"A Decade of Economic Destruction... by Shri S Gurumurthy" Full Video
It is easier and fancier to criticize and find fault with every macroeconomic policy with nuanced jargon or newly coined ones but very difficult to frame one and also execute especially when there are multiple forces to cripple the economic development or divert the attention.
I would side with Prof. R. Vaidyanathan and S.Gurumurthy when analyzing the macro economy viz à viz Indian conditions.
Therefore, using any imported models to evaluate all aspects of the economy by itself is starting on wrong premises.
We all need to accept that life is complicated and modern day economics is too complex with multiple players ,various dimensions and each dimension with multitude of dynamics all playing their roles with varying degrees of intensities.
Besides we must understand any government can only bring about procedures, processes and systems to address issues based on priorities and not offer a panacea.