Arvind Virmani, former Chief Economic Advisor to the government, tells NDTV Profit that given the free fall in the rupee and in equity markets, a bold programme of structural changes is needed. He suggests bold, unconventional steps like cutting government consumption sharply and dismantling infrastructure monopolies like in coal, railways, ports etc. Mr Virmani says too little has been done, and too late, and a majority of the government machinery does not understand the seriousness of the situation.
