Given that the busting of the oversized financial sector has a devastating impact on the real sector, it becomes important to (i) examine the optimal size of the financial sector relative to growth and development needs and (ii) make financial sector innovations more meaningful to cater to the needs of the real sector.
For sustaining the high growth path, it is imperative that we bring in reforms in the agriculture, industry, infrastructure and services sectors. I would like touch upon some of the elements of these reforms.