Even more scathing, perhaps, was his comment that as a policymaker he had found essentially no use for the vast literature devoted to providing sound micro-foundations to macroeconomics.

As a chapter in the Economic Survey on the “Micro-foundations of Growth” argues, even “India's unpardonably large bureaucratic costs are like a valuable resource buried under the ground”.

As a chapter in the Economic Survey on the "Micro-foundations of Growth" argues, even "India's unpardonably large bureaucratic costs are like a valuable resource buried under the ground".