Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 73
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 73
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 74
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
App\Controller\ArtileDetailController::printArticle() - APP/Controller/ArtileDetailController.php, line 74
Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\AssetMiddleware::__invoke() - CORE/src/Routing/Middleware/AssetMiddleware.php, line 88
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

                trigger_error($message, E_USER_WARNING);

            } else {
$response = object(Cake\Http\Response) {

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&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;

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Well-off are doing fine; stagflation confined to middle and lower-middle classes

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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...&#039;
$disp = &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-TheWeek.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&amp;rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&amp;rsquo;s economy makes it clear that the situation is worrying.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot; title=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot; title=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;&#039;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,..."/>
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                <strong>Kaushik Basu, currently teaching at Cornell University in the US, interviewed by Abhinav Singh (TheWeek.in)</strong></h1>
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                <p style="text-align:justify">-TheWeek.in</p><p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p><p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p><p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p><p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p><p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p><p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p><p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p><p style="text-align:justify">&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&amp;rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&amp;rsquo;s economy makes it clear that the situation is worrying.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...&#039;,
	&#039;disp&#039; =&gt; &#039;&lt;p style=&quot;text-align:justify&quot;&gt;-TheWeek.in&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&amp;rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&amp;rsquo;s economy makes it clear that the situation is worrying.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot; title=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot; title=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;&#039;,
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&amp;rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&amp;rsquo;s economy makes it clear that the situation is worrying.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...&#039;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,..."/>
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                <strong>Kaushik Basu, currently teaching at Cornell University in the US, interviewed by Abhinav Singh (TheWeek.in)</strong></h1>
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                <p style="text-align:justify">-TheWeek.in</p><p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p><p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p><p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p><p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p><p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p><p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p><p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p><p style="text-align:justify">&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>               </font>
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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Q/ Is the Indian economy moving in the right direction?&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&amp;rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&amp;rsquo;s economy makes it clear that the situation is worrying.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

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&lt;p style=&quot;text-align:justify&quot;&gt;&lt;em&gt;Well-off are doing fine; stagflation confined to middle and lower-middle classes&lt;/em&gt;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:&lt;/p&gt;

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&lt;p style=&quot;text-align:justify&quot;&gt;India&amp;rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&amp;rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&amp;rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&amp;rsquo;s national income is 0.7 per cent.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;In addition to the low growth, all data coming out over the last year show that India&amp;rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;Please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to read more.&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&amp;nbsp;&lt;/p&gt;

&lt;p style=&quot;text-align:justify&quot;&gt;&lt;strong&gt;Image Courtesy: PTI, please &lt;a href=&quot;https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI&quot;&gt;click here&lt;/a&gt; to access&lt;/strong&gt;&lt;/p&gt;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...&#039;
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,..."/>
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                <strong>Kaushik Basu, currently teaching at Cornell University in the US, interviewed by Abhinav Singh (TheWeek.in)</strong></h1>
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                <p style="text-align:justify">-TheWeek.in</p><p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p><p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p><p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p><p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p><p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p><p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p><p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p><p style="text-align:justify">&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>               </font>
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<p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p>

<p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p>

<p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p>

<p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p>

<p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p>

<p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p>

<p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>
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Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...',
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<p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p>

<p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p>

<p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p>

<p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p>

<p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p>

<p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p>

<p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p>

<p style="text-align:justify">&nbsp;</p>

<p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>
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$metaTitle = 'Interviews | Kaushik Basu, currently teaching at Cornell University in the US, interviewed by Abhinav Singh (TheWeek.in)'
$metaKeywords = 'Stagflation,Kaushik Basu,Economic Growth,Indian Economy,disinvestment'
$metaDesc = '-TheWeek.in

Well-off are doing fine; stagflation confined to middle and lower-middle classes

Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction,...'
$disp = '<p style="text-align:justify">-TheWeek.in</p><p style="text-align:justify"><em>Well-off are doing fine; stagflation confined to middle and lower-middle classes</em></p><p style="text-align:justify">Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts:</p><p style="text-align:justify"><em>Q/ Is the Indian economy moving in the right direction?</em></p><p style="text-align:justify">A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India&rsquo;s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India&rsquo;s economy makes it clear that the situation is worrying.</p><p style="text-align:justify">India&rsquo;s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India&rsquo;s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year&rsquo;s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India&rsquo;s national income is 0.7 per cent.</p><p style="text-align:justify">In addition to the low growth, all data coming out over the last year show that India&rsquo;s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline.</p><p style="text-align:justify">Please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to read more.&nbsp;</p><p style="text-align:justify">&nbsp;</p><p style="text-align:justify"><strong>Image Courtesy: PTI, please <a href="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI" title="https://www.theweek.in/theweek/statescan/2022/02/24/kaushik-basu-india-is-facing-gated-stagflation.html?fbclid=IwAR2LxulJ5FAEZ6O1XWuhvwJ1ysL8Rr_tLnWGg7j20GlmweyDM1ol6i8ceuI">click here</a> to access</strong></p>'
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Kaushik Basu, currently teaching at Cornell University in the US, interviewed by Abhinav Singh (TheWeek.in)

-TheWeek.in Well-off are doing fine; stagflation confined to middle and lower-middle classes Kaushik Basu, former chief economic adviser to the government and former chief economist of the World Bank, is currently teaching at Cornell University in the US. In an exclusive interaction, he talks about the current challenges before the Indian economy and its future growth prospects. Excerpts: Q/ Is the Indian economy moving in the right direction? A/ The performance of the Indian economy is disappointing. It is sputtering in ways rarely seen before. We can see this from the international media. There is no longer the buzz as there once was about India’s phenomenal rise and of India as one of the growth leaders of the world. Even if you dismiss the international media as biased, though that is a dangerous path to go down, a study of the statistics pertaining to India’s economy makes it clear that the situation is worrying. India’s growth in 2021-22 is expected to be high. The latest Economic Survey projects the growth to be 9.4 per cent. In itself this looks good. But as soon as you look at the previous year, it is clear that this is the effect of recovery from the crash of 2020-21. India’s economic crash was one of the biggest in the world. Just like climbing out of a well that you have fallen into cannot be described as mountaineering, this year’s growth cannot be described as a great economic achievement. In fact, over the two-year period, from 2020 to 2022, the annual compound growth rate of India’s national income is 0.7 per cent. In addition to the low growth, all data coming out over the last year show that India’s unemployment is high and the level of inequality is getting worse. The World Inequality Report 2022, authored by Thomas Piketty and others, finds that India has become one of the most unequal nations in the world. An Oxfam study released earlier this year estimates that in 2021, 84 per cent of households in India saw their incomes decline. Please click here to read more.    Image Courtesy: PTI, please click here to access