Economic policy in India has lost its focus

Economic policy in India, especially in the last two years, has been unfocused on the real issues and instead has diverted attention to more peripheral ones. The separation of political power from the leader of the government has made things much worse. The National Advisory Council is the ultimate policymaker, particularly on all domestic economic policy issues, not the cabinet; that is, the leader of the Congress, not the prime minister. The NAC is composed of many extraordinary and compassionate people, with sympathy for the poor and vulnerable, but little capability for thinking through the mechanics for policy implementation.

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