Unrealistic divestment targets and dubious asset sales are standing in the way of New Delhi's goal to reduce its public sector and improve its public finance.
Ailing state lenders, struggling with regulatory requirements, are in trouble as pressure on distressed assets grows. Distressed debt investors smell blood.
For the seventh year in a row India has failed to meet its divestment target. But as our graphics show, the government is still shooting for the stars.
While its neighbours embrace the initiative, India is one of the few nations opposing the China-led Belt and Road push. That is bad news for cross-border dealmakers.
The chief global strategist and head of emerging markets for Morgan Stanley Investment Management explains why growth has slowed and looks for signs of optimism worldwide.