Praxeology: My Reflexions on India

In the second episode of Mises Interviews I sat down with Mr. Jayant Bhandari to discuss Indian economy, society and culture. Mr. Bhandari throws light on the underlying cultural factors that are necessary prerequisite for the progress of India. He also analyzes the economic policies of Modi and all other past governments while discussing the future of the Indian economy. P.S. This interview is in Hindi language to cater the Indian listener.

As we all know, the Indian economy is going through one of the worst economic recessions it has ever witnessed in modern history. Starting from   auto   and realty sector, manufacturing, FMCG (Fast Moving Consumer Goods), agriculture and even   underwear   industry are facing big sale drops and inventory pile ups. All these symptoms are of a typical business cycle. I do not want to discuss the causes of this business cycle here in detail as I have already done that   elsewhere . In short, the Indian central bank RBI and its master government are solely responsible for the recession. Industry leaders were panicking and demanding that the government announce some kind of a relief and rescue package. The finance minister Nirmala Sitharaman so far was in denial about this recession as she was not ready to accept publicly that there is any recession in the Indian economy, but major policy decisions declared last week  show that she can no longer ignore this mammoth problem. Last Friday