A giant street mural depicting the euro crisis, in Greece. (Photographer: Konstantinos Tsakalidis/Bloomberg)
Here’s a topical debate for us students of economics and markets. Large swathes of India’s economy appear to be in distress. Yet, India’s key equity indices Nifty 50 and Sensex are close to their all-time highs. How do we account for this divergence? What are the implications for policymakers?