Pranay presented it in a way as if India is on the verge of becoming another Venezuela
That's why I don't like to watch NDTV. Channel with a loaded agenda, clueless, masquerading to be educated. Moreover while facing loaded questions, there's almost nil possibility to give a genuine answer.
India's forex reserves and debt to GDP ratio and wealth is capable of fend off or at least humble crises like great depression, has highly active supply chains and purchasing class. Further, India is world's most complex economy outside East Asia and Western world. Low income level continues to improve efficiency of industries (and allied services because of that) which makes bulk of India's economic growth. It isn't a commodity based economy with an uncertain future.
For even moving towards a Venezuela like crisis, situation is supposed be preceded by high national debt and dues, internal instability, declining income levels & consumption and stagnation in generation of wealth which is nowhere in sight for India. Economic reforms made less than just 30 years ago have made India's forex alone far exceeding GDP of that time.
The definition of "economic crisis" in Indian context is too far and different from global context where countries like Canada whose GDP has growth 0.5% in 10 years are normal or growth exceeding 3% is considered good. For being like of Venezuela, for which you have to be a commodity based, socialist state, deliberate mismanagement in economy, foreign interventions and internal instability, a civil war like situation. Won't expect in a country like India that has sustained its system ever since adopted in 1950.
Republic of India is probably only large and diverse state after USA to sustain this idea for this long.
Pranay Roy btw seems to have moved away to throw shenanigans on economics after ISRO ruckus.
