In a few recent articles, we have dealt with the deep and growing problems of the once "incredible India".  The Economist magazine has also be weighing in on the topic in recent weeks.

The Economist quite rightly paints a dire portrait of an India with weakening growth, and high inflation and budget deficit.  Since the impressive reforms undertaken two decades ago, reform has basically ground to a halt.  There has been no serious reform in years.  And there is very little support for reform, with the domestic bureaucracy and other vested interests providing resistance. 

India's weak and fractious government is showing no leadership.  The country continues to be dogged by masive corruption, and poor infrastructure, and recent anti-foreign investment laws are only making things worse.

The emerging economy star may now be fading after being the one bright spot in the global economy in recent years.

Reference:

"India's slowdown".  The Economist

http://www.economist.com/blogs/banyan/2012/06/indias-slowdown