Indians will from Thursday begin heading to the polls in a month-long election for a new government. The Congress party is standing on the record of the government it has led since 2004. But polls are taking place when the Indian economy has taken a sharp turn for the worse, in a climate of global economic crisis. This exposes the do-nothing, zero-reform record of Manmohan Singh, prime minister, and his government. More generally, it lays bare India’s huge reform gaps and its brittle, decaying institutions. Finally, it deflates the “India hype” peddled by smooth-talking upper-caste politicians, ambassadors, businessmen, management consultants and some academics.

A word about India hype. It highlights high-end services, and now manufacturing sectors, with their globalising, world-beating companies. But it overlooks reform deficits in agriculture, services and manufacturing. It talks of “Chindia”, the notion that India plays in the same league as China as an emerging superpower – which is pure myth. Not least, it glosses over the record of the present Congress-led government.