The Book ReviewThe New York Times
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Coal output crashes by over 20 percent. Overall, eight core sectors lose a stunning 5.2 percent year-on-year over September 2018, contracting to an 8-year low. GDP hits a 6-year low. And yet, India’s stock markets hit an all-time high!
Why, you ask?
To understand this conundrum, let’s dial back a few months, to May 2019. Everybody thought that a struggling economy would dent Prime Minister Modi’s 2014 mandate. But he shocked the whole world by improving upon his tally, crossing a breath-taking 300 seats in Lok Sabha. The markets broke into a euphoric dance of crazy expectations. Surely, he would use his vastly enhanced political capital to finally essay deep, difficult reforms to unshackle the economy, once and for all, right? Full the full story tune in to the podcast! Learn more about your ad choices. Visit megaphone.fm/adchoices
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