(This article first appeared in Deccan Chronicle on August 18, 2022)
Around August 15, we have the usual litany of lies about seventy-five wasted years. Were they? The Indian economy is now the fifth largest in the world, measured by nominal GDP, and the third largest by Purchasing Power Parity (PPP). Its GDP in 1950 was $30.6 billion and in 2021, India’s GDP was $3.53 trillion or $3.69 trillion (PPP)…