Basically the gist of this article(which is like a synopsis for his book) is India is looking at a economic catastrophe and buy this book to know about it and to protect youself(not sure how you can use it )
While definitely i dont disregard the basic premise and also facts of the book ,we also have to be aware if you look closely the major risks which he points are actually known to every one who are regular watchers of Indian economy.
Major risks he outlines are
1.India's inability to generate Jobs catering to india's upcoming massive young workforce
The government recognizes this as the major risk and you can hear a lot of talk on it.Also this one is not something new to India but we have also faced this in 70s and 80s .Whether the government is able to manage it this time via economic reforms like in 90s will be an interesting watch for the next few years but impact on the stock markets is actually not linear. Actually the correlation between economic state of a country and stock markets performance have been differing in recent years.EVen Mr.Goel in one of his newsletters acknowledged it.
2.India's loss making public sector companies
From Air India to BSNL,every one in India knows about the shape of our public sector companies and this govt (support it or oppose it) is taking it head on by trying to privatize the public sector or restructure them as much as possible and i believe this risk is being the one which is being most mitigated
3.Corruption in Govt Schemes like MNREGA
Saying corruption is a problem for India's growth must be one of the clique statements ever used .While it holds good,its not that is going to make India suddenly face a economic disaster.Present Govt through DBT is actively addressing it and if it is to be believed ,in the implemented sectors and locations,leakage has come down by 30%.
While we can definitely not dismiss the facts mentioned in the article,i feel everything written here need not be taken as on face value as the immediate threats for our impeding economic disaste or our markets.
Stock markets in recent times have been driven to crazy valuations because of global liquidty supply and India's domestic inflow.
While one thing is out of India's control ,the other phenomena has to be closely watched if its a structural shift or just a momentum based play driven by positive investor sentiment.If second thing is a structural shift,we might be in for some unwitnessed surprises in Indian market.