The government has neither the mental model nor the political courage to effect real change, point out Ashoka Mody & Michael Walton.
India's real risk is not that crony populism would fail, but that it would succeed, consolidating a path that is fundamentally a trap, both in terms of social inequalities and long-term growth, says Michael Walton.
The study claims that from its peak of 18 per cent of gross domestic product in 2008, the crony capitalists' wealth is now down to three per cent
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