I really can't give you a detailed answer to that question because I have so little expert knowledge in this field. But I know that the officials who have run the ministry of finance in India have always been a very conservative bunch. It is greatly to their credit historically that India did not suffer from the debt crisis that so many countries, erstwhile third world countries, suffered from in the 1980s.
There's an account of that period by two very distinguished Oxford economists, who try to answer the question of why India did not suffer from those sorts of problems. It concluded that the answer was actually in the quality of the officials in the ministry of finance and their extremely cautious kinds of attitudes. There's a real tradition of caution, and that tradition was confirmed. Certainly that's what the governor of the Reserve Bank of India talked of when I heard him speak here three years ago on their observation of the crisis of 2008.
Sorry, that's a very general and a rather woolly kind of an answer, but I think that's what you have to bear in mind.