Posted 12/3/2023, 12:00:00 AM
India's Economic Growth Potentially Overstated; Hasty Decisions Without Consensus Pose Risks
- India's economic growth may be overestimated; actual rate likely below official rate per authors Raghuram Rajan and Rohit Lamba
- Hasty decisions made without consensus, often by a single leader, have led to disasters like bank nationalization, Emergency, demonetization, lockdowns
- Favoring large companies risks consumer prices and long-term competitiveness
- Current growth is "jobless," needing more growth for employment as demographics demand
- Distracting social/cultural issues accentuated by social media keep people from focusing on economic plight