India’s economy stalled after 2010, the data just didn’t say so
In a searing reassessment of India’s post-2008 economic trajectory, economist and former Chief Economic Advisor to the Government of India Arvind Subramanian and political scientist Devesh Kapur argue in their new book that the country’s much-touted growth resilience after 2010 was largely a statistical illusion. Beneath steady official GDP numbers lay a decade-long slowdown driven by collapsing investment, stalled credit and a prolonged twin balance-sheet crisis that policymakers and critics alike failed to diagnose in time
In a searing reassessment of India’s post-2008 economic trajectory, economist and former Chief Economic Advisor to the Government of India Arvind Subramanian and political scientist Devesh Kapur argue in their new book that the country’s much-touted growth resilience after 2010 was largely a statistical illusion. Beneath steady official GDP numbers lay a decade-long slowdown driven by collapsing investment, stalled credit and a prolonged twin balance-sheet crisis that policymakers and critics alike failed to diagnose in time
