The 5% GDP growth in the first quarter of this fiscal is cause for alarm as it reflects how bad the slowdown is. This cannot be fixed with tweaks to economic policies or sentiment boosters. Consolidation of PSU banks will also not help much. Indian economy needs serious structural reforms.
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Economy tweaks & banks consolidation not enough, we need serious structural reforms
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We are in a fog of uncertainty. Some are questioning whether this figure of 5% actually works out to 2.5% as per the Dr A S formula. What is undeniably true is that the economy is in far worse shape today than it was in May 2014. Despite a number of favourable factors being at work. A lot of chickens are coming home to roost, without dilating further. 2. The government should treat this as its 1991 moment. Itna political capital hai, make good use of it. Neither the NRC in Assam nor Article 370 in Kashmir is going to take us within a mile of $ 5 trillion. Get rid of the darbari types, bring in people whose intellect is undergirded with integrity. What reforms are required, there must be a million edits on the subject. Hazaar do hazaar toh hamare comments bhi honge, including many on the BS site.
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