The latest punch to the rupee is yet another wake-up call to reassess sustainable growth dynamics
The coming weekend marks the 10th anniversary of Lehman Brothers filing for the largest-ever bankruptcy in the US. Few economies were unaffected by the subsequent global financial crisis (GFC) and India was no exception. A quick review of India’s pre- and post-crisis experience would be instructive in order to focus on a key issue currently affecting the rupee. This issue appears to have escaped the collective wisdom of Indian policymakers.