Economist Surjit Bhalla Flags 'Deep State' Impact on India's Economy

Economist Surjit Bhalla states that India's Prime Minister and Finance Ministry acknowledge the need for economic improvement but fail to translate it into government actions. He criticizes the 'deep state' for acting in its own interest, not the nation's.

Mon Jun 01 2026

Government Policy Discrepancy and the Deep State

Renowned economist Surjit Bhalla, in an interview with NDTV, highlighted that while India's Prime Minister and Finance Ministry seemingly accept the need for economic improvement, this understanding does not translate into concrete government actions. He argued that this discrepancy is a significant factor hindering India's economic progress. Bhalla emphasized the need for a deeper examination into why obvious economic solutions are not being implemented effectively.

The Role and Influence of the Deep State

Bhalla identified four key decision-making influences, with the last being the 'deep state'. He asserted that the deep state acts according to its own interests, not the country's or any political party's interest. Additionally, he noted that opposition parties often do not wish for the economy to perform well, believing it would make the incumbent government unpopular. Bhalla criticized this political and institutional interference for negatively impacting key policy decisions, the investment climate, and India's long-term economic performance.

*Source: YouTube: NDTV (2026-06-01)*

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