Monumental Mismanagement

An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance.

Leaving aside apologists for the Modi regime, most independent economists are agreed that GDP for the next two and possibly three quarters has taken such a hit that GDP growth will decline by at least one percentage point or more, with Ambit Capital estimating that GDP growth will be more than halved to 3.5% for FY 2017.

Prime Minister Narendra Modi was present in parliament as his scheme to abolish 500 and 1,000-rupee notes was labelled "a monumental management failure" by his predecessor, Dr Manmohan Singh.

An airport without planes, a revolving restaurant with no diners, a debt-laden seaport -- Sri Lanka's economic crisis has been exacerbated by Chinese-funded projects that stand as neglected monuments to government extravagance.

Leaving aside apologists for the Modi regime, most independent economists are agreed that GDP for the next two and possibly three quarters has taken such a hit that GDP growth will decline by at least one percentage point or more, with Ambit Capital estimating that GDP growth will be more than halved to 3.5% for FY 2017.

Prime Minister Narendra Modi was present in parliament as his scheme to abolish 500 and 1,000-rupee notes was labelled "a monumental management failure" by his predecessor, Dr Manmohan Singh.