The International Monetary Fund recently stated that India is set to surpass Japan to become the fourth-largest economy in the world in 2025. While the projection masked the underlying realities of the average Indian, it was enough for the mainstream Indian media to rush to celebrate.
Some of the cheer was also linked to Niti Aayog CEO BVR Subrahmanyam’s statement last week that India had already surpassed Japan, a claim contradicted by several experts, including Niti member Arvind Virmani.
