How serious is the current economic crisis in India?
I don't think the crisis is very serious for the simple reason that the economy which is growing at 9 per cent has enough resilience to adjust itself. Of course, price rise is there; accordingly we have to reduce our consumption, change spending style. Global oil price is beyond our control, so there is no point in resisting the hike in our market.
You are underplaying inflation?
Market economy is a reality. I cannot wish it away. We have to accept it and work on it. We have to protect poor class.
Image: An Indian man and his blind daughter beg in the streets of Hyderabad. | Photograph: Noah Seelam/AFP/Getty Images
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