Is India's economy crashing?

Or do we need to retool our country?

Open any newspaper or news website and the bad news is unrelenting. It looks like a whole slew of industries is crashing: The passenger car manufacturers, telecom service providers, airlines, banks that lend money to small businesses, real estate developers, civil construction companies, TV broadcasters and — hold your breath —even information technology (IT) services export behemoths.

And the headline news makes it looks as if every indicator that economists follow — gross domestic product (GDP), employment rate, the rupee to dollar rate — is also heading downwards.

And depending on his political posture, the writer/columnist picks who or what