The Indian economy is going through a period of uncertainty. Growth has declined, and important economic health indicators such as the current account deficit and the Sensex are not providing source for much hope. Add to the mix the political uncertainty arising from the upcoming national elections, and we have the stage set for dire predictions.

Businesses in India now need to deal with outflow of foreign investment, especially from institutional investors. Some of the businesses also have large foreign debts (ECBs or external commercial borrowings) the risks related to which were not adequately hedged against. Banks are subject to even more trouble, in the form of poor loans (NPAs or non-performing assets).

And yet, as a recent Mint article says, it doesn’t cost us anything to contend that Dr Feelgood has taken charge. As a country, India has the resources and the markets to solve its own problems, to raise everyone above the poverty level, and to make sure that every child gets to eat nutritious food. The entitlement economy of ours –  as this welfare state is sometimes called – will get there, wherever that means. But we will get there together, not just a few of us.

Related articles

• 5 bold measures to set the Indian economy right (rediff.com)
• 5 reasons why RBI’s rate hike is good for India (profit.ndtv.com)
• Crisis looms on the horizon (thehindu.com)
• The malaise that drove down the rupee (thehindu.com)
• India’s Rupee Slides to a Record Low (businessweek.com)