“Shankar Acharya stands out among India commentators for the clarity of his prose and the judiciousness of his judgments. He refuses to be swept away by undue enthusiasm for India's welcome improvement I economic performance. A long-time in the making of economic policy, Mr. Acharya understands how limited the reforms have been, how far from outstanding economic performance remains and how much India needs to do if it is to achieve rapid, sustained and broadly shared increases in prosperity. The great enemy is complacency. Attentive readers will realize how little such complacency is justified and how many still needs to be done.”