As a country that does not belong to any power bloc, India cannot afford to put itself in the position of needing multilateral support – a trap into which even developed countries, like Portugal and Spain, have fallen. There is the risk of overstimulation, with fiscal deficits fueling large current-account deficits and debts, which suddenly become unsustainable when money gets tight.
通过国内需求推动经济发展需要认真加以管理。因为不属于任何权力集团，印度不能将自己置于需要多边支持的地位&mdash;&mdash;就连像葡萄牙和西班牙这样的发达国家也未能躲开这样的陷阱。此外还有可能过度刺激，表现为财政赤字推升巨额经常账户赤字和债务，并在流动性收紧时突然变得不可持续。坚持稳健的政策框架是少数几个成功避开繁荣萧条循环的新兴经济体的秘诀。