"In particular we are trying to do is to signal a change in the way we think about development and economy in our country... First we view jobs, demand, exports etc. in silos - trying to solve separate problems - when they actually are complementary to each other one without the other does not work," Krishnamurthy Subramanian told NDTV.

"Secondly, one of the ways in which we are departing is that rather than thinking about the economy being in an equilibrium, economies are actually either in a virtuous cycle or a vicious cycle."