- Jan 9, 2022
No. In their case it happened because they spent money on infra projects which had no financial viability. For eg :what good is high HDI, when it couldn't prevent economic disaster.
in SL's case, economic disaster happened precisely because they put all their money on state sponsored HDI numbers instead of economic stability. most of their tax revenues went into govt jobs, state sponsored education, state sponsored health etc. leaving little for industrial development.
more importantly what's the point in comparing to country whose population is less than residential population of mumbai and land area less than that of assam.