It is going to be an economy like Egypt, with similar consequences in future.
Remember there are only few ways that economies have emerged at world stage:
1. Majority of the things of development controlled by government like housing infrastructure development, medical facilities, etc. e.g. China, communist states, welfare states, etc.
2. Resource to people ratio is very big like USA, Kanada, Australia, etc.
3. Educated societies are present and lead the country without trouble. Like Japan,
North Korea, etc. Such education in societies do not emerge in one generation and with any quick result.
India is not present in any of these models. An economy based on consumption will create unrest in future as is happening now, with ever increasing crime, polluted cities increasing at a buffalo brain speed , dominance of buffalo brains in parliamentary structures, rivers becoming drains. etc.
Then there are religious cults/ people and communities of people who have been the owners of religion and want to ensure lot of things for these uneducated masses out of thin air though religious miracles by accumulating mass wealth though temples, etc.
Religious cults and religious communites/casts and people have existed though out history and rise of communism was a though process to bring some stability in such regions of mass religious crap with which India suffers.
http://news.bbc.co.uk/onthisday/hi/d...00/2540209.stm
https://www.google.com/search?newwin...28.Sw0ZTEcODNA
Out of India funds/people/ communities etc. fund and control the religious people/communites/casts to move economies.
It is even interesting to know that even home grown companies like TATA Motors is ailing:
http://timesofindia.indiatimes.com/b...w/46591174.cms
This fact states something. That something is the education and work culture of India.
All the governments in India are en cashing and riding a bandwagon of infrastructure development based on farming land and wrong policies. Governments ensure wrong things to people like employment to a farmer in government job is the farmers land is acquired. Giving farmers large amount of money for land without education will ruin the economy. Education is totally privatized and farmer will be drained of all the money that government gives it. So, on one hand it given lot of money on the other hand it takes away money making the trader communities rich in the country through privatizing the education sector and no control and standardization of trade. Non standardization of trade allows traders to accumulate vast wealth and create trade lobbies. The government must raise revenue though higher taxation and trade standardization and not though giving huge amount of money to farmers though land acquisition, education to farmers does not come in one generation, giving them huge amount of money for their land and pushing them out into cities is directly throwing them into the hands of trade sharks and religious communities and people.
No government is addressing the basic issue of educating the citizens and improving and changing the government machinery.This can only happen when the parliamentary structure and the kind of people that reach parliament is corrected. If proper educated people reach parliament that also means proper structure below will be created.