Subramanian Swamy says only people with solid grounding in macroeconomics can revive economy

Subramanian Swamy has come out with a book in which he takes a critical look at various aspects of the Indian economy, both past and present New Delhi: BJP MP Subramanian Swamy, who has often criticised the government’s economic policies, believes only people with solid grounding in macroeconomics can pull the economy out of its current tailspin. “Today, the economy suffers from clueless economic stewardship, cloaked in spin, and media management, while the economy is debilitated by serious multiple structural flaws that make this current slowdown unlike any other we have experienced in India since 1947,” he writes in Reset: Regaining India’s Economic Legacy. In the book, the author uses a period of 150 years from 1870 to 2019 to “focus not so much on the historical narrative of India’s economic development or the lack of it but on distilling out the consequences of the economic ideology adopted in three main phases” - British imperialism, period when the Soviet command economy model took root, and the period 1991-2019. He rues Modi has to depend on people who “never tell him the bitter truth about the economy or explain the macroeconomics or that he needs to figure the way out of a crisis”.