Let’s wake up

India is to beat China as the world's biggest economy by 2050. So says a report by a global property firm. A projected GDP of $86 trillion by purchasing power parity sounds good, save that the anticipated feat is some four decades away. China, by contrast, is slated to outstrip the US as the world's largest economy by 2020. Another problem with such long-term forecasts is the big assumptions they seem based on. The biggest is that those in charge will do what's needed to propel India to the top. If policy inertia coupled with populism remains our style of economic management, that's not going to happen.

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