The bust of the 2010s after the boom of the 2000s can be repaired only by an investment revival that is led in good part by the public sector. But one must first have a clear idea of what lies behind the slump and acknowledge the depth of the crisis.

An analysis of the draft NSO report that the Government has decided not to put out shows a deterioration in 2017-18 in consumption and poverty levels in rural India. The reasons may be the demonetisation of 2016 and the shoddy introduction of GST in 2017.