the Indian economy - an analysis
Thanks to chandru, who always gives us good articles, I found the following article about our Indian economy being analzyed by Raghuram Rajan & TN Ninan. A real food for thought. With my inlaws coming from a village where the primary activity is Agriculture and having experienced first hand how year after year, we had to spend money with no returns but a lot of debts, I agree with this article fully. I have also given the link to this article at the end. - Explaining India’s economic troubles Posted: 17 Dec 2011 08:28 AM PST The most lucid insight comes from Raghuram Rajan and TN Ninan This is perhaps the best way to understand what went wrong with Indian economy in the recent years under the UPA. The insight comes from noted economist Raghuram Rajan: Rajan said the problem in India was due to low growth in rural productivity, unlike China where rural entrepreneurship was the biggest growth driver for years. According to him, India has simply shifted resources to