Oft-repeated chestnut abt India's growth - how "global uncertainty" makes it tough for us to do 2003 (or China) encore. Uriah Heep cop-out - cheap money, cheap cmdty - ⬇️ in India's 2 big drags (capital + imported cmdty) shd have enabled us speed up, regardless of global winds

We goofed up macro policy in 2011-13,but recovered quickly. Learnt too many wrong lessons - Inflation targeting voodoo, tht kept rates far too hi for too long. GST, tht swapped revenue efficiency for growth. Obsession w/NPA, which is a feature of banking, not a 4 letter word..

Last but not least, unhealthy obsession w/fiscal deficit. Giving up the biggest macro asset in our arsenal - large domestic savings pool tht can fund large deficits easily,as long as credit growth isnt brutally suppressed. Tried addressing a demand-side issue w/supply side soln..

Some of the things achieved in the 2010s (much of it by Modi) r breathtaking (if only for just how long it took for some1 to notice amd act on them) - toilets, fin inclusion, digital stack, e-ways. But for nominal income growth, its been a bit of a lost decade...