Darkening clouds: Govt denial, inadequate response are not helping economy

If we go on being inward-looking, how will the system open up? Those that are not competitive locking competitive ones out of markets cannot be a way to get to the $5-trn dream, writes T N Ninan

There is simply no way to get away from the fact that the clouds over the economy continue to darken — not just because of events already unfolding but equally because of the quality of government response. Moody’s decision to put out a warning on its India rating may be nothing more than recognising the changes in economic prospects that have already occurred, since rating agencies typically react slowly and tend to be behind the curve. What should worry forecasters (and everyone else) is the risk that the minor upswing in economic growth that most of them expect in the