Oh what a coincide just now I was telling someone to read zerohedge to know what is happening in global financial circles.
However, non of these need to put off the optimism regarding India's and some other Asian countries economies because of their inherent strength and potential, only thing is that it remains a potential which has not been unearthed or optimally used till date.
India's unique strengths are too many but its massive shortcomings are lack of cooperation and coordination in implementing anything; lack of proper management; bureaucratic hurdles; regulators harassing in the name of implementing regulations; still unrealistic tax structure devoid of justifications in terms of the trade of the tax payers get; lack of practical inputs on ground realities; excessive and illogical freedom to media to sit on judgement over everything and scarring officials through media trials ( no one has the spine to control them); ministers are inaccessible and still lobbies decide.
If only India's unutilized resources and potentials are fully exploited India can become 5 times bigger than US economy.
I am sure the present governemnt is addressing the issues one by one to create a stable platform to take off the developmental agenda in top gear
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