Bloomberg Article – Why I’m Losing Hope in India
bloomberg.com
bloomberg.com
> Zombie business groups are perched atop the debris of debt-fueled expansion
> inept authoritarianism
> But not much is being done to revive demand, either in the short or the long run.
> The state, we hoped, would shrink as an economic player, and become a more robust referee.
> the government’s whimsical decision-making has intensified. Don’t like what a consumption survey shows? Suppress it. Getting flak for a slowing economy? Publish unbelievably rosy GDP data.
> Homebuyers don’t trust builders to deliver homes; financiers don’t trust property developers to repay loans. The government doesn’t trust either the builder or the lender. Nobody trusts politicians
> One, how will supply-side reforms fill the demand gap? Two, when will the broken financial system be made whole?
Going to have to lose hope on a lot more countries than just India… these things can be said/asked for pretty much everywhere… and the whole covid situation has pretty much accelerated a lot of the above
> "India Is Letting Grain Go To Rot—While Thousands Of Indians Die Of Malnutrition Every Day"
While is true - this is a systemic problem much older than Modi.
Also FYI article is from 2012, Modi became PM in 2014. While I believe the Modi government has behaved dangerously and has pushed several harmful ideologies and policies - this particular problem with food distribution is older than his regime.