Many people seem to be bewildered by the sudden slowdown in India’s economic growth. But had you kept your gaze firmly fixed on India’s policymaking, the slowdown would hardly be surprising, let alone inexplicable. Since public memory is short, here is a quick recap. For the first few years of Prime Minister Narendra Modi’s tenure, India’s economic policy was largely incoherent. India went through two Reserve Bank governors and a finance minister who didn’t exactly set the Yamuna on fire. The government’s main focus was on a bunch of social schemes: Swachh Bharat, Jan Dhan, Digital India, Beti Bachao Beti
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