T N Ninan: Beyond the numbers

The govt should be using the time it still has to address the structural reform issues it has ducked these last three years

When the Indian scene is viewed through the prism of macro-economic data, the economy gives every impression of being in a sweet spot. Inflation is low, the central fiscal deficit has been falling steadily, and the external account is comfortably balanced. Growth could be better, especially after the slowdown last year, but most forecasts suggest a continued GDP growth rate of more than 7 per cent because of the fading effects of demonetisation, the expectation of another good monsoon, and improvement in the global economy which finds reflection in better export figures for India. The political complement to the positive