Arvind Panagariya: The revival of optimism
It is no exaggeration to say that the defining event of 2014 was the emergence of Prime Minister Narendra Modi as India's most popular leader. In April 2012, Fareed Zakaria of CNN had predicted that the December 2012 Gujarat election would spell oblivion for Mr Modi. But exactly the opposite unfolded - it propelled him into national prominence.
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