As recently as 1990, India was 30 places ahead of China in the global competitiveness index. We are now 30 places behind China. As recently as 2000, there was at least one Indian university/institution in the top 100 global institutions while China had none. Today China has five and India has none.
If confidence in future stability is to be ensured, now is the time to set out an effective fiscal exit strategy. 4  BIS Review 103/2009