India after the Global Crisis assesses India’s resilience in the face of the global financial crisis but then shows how the global crisis and our domestic policy failures have taken a toll on India’s economic performance: growth has slowed significantly, inflation has remained high, the external current account deficit has more than doubled, and the rate of domestic investment has fallen.
Drawing upon four decades of experience in the World Bank, the Central Government, academia and India Inc., Shankar Acharya probes deep into the daunting challenges that lie ahead for India. This volume is written against the backdrop of renewed global economic turmoil—stalled economic revival in 2011, mounting problems of sovereign fiscal stress and banking fragility in Europe and US—and clear signs of economic slowdown amid political weakness and indecision in India. The author also outlines the priorities that the government must focus on to overcome these challenges, and debunks several myths that weaken current policies.
A must read for economists, financial analysts, policy-makers, students and the interested general reader.