Wikipedia defines a Banana Republic as follows:
Banana republic is a term that refers to a politically unstable country dependent upon limited agriculture (e.g. bananas), and ruled by a small, self-elected, wealthy, corrupt politico-economic plutocracy
Well, we are almost there, aren't we? Only the part about limited agriculture is missing. But with the land - agricultural or otherwise - being grabbed for constructing sky-scrappers all over the country, unpredictable weather and the farmers committing suicide, I think we will get there sooner rather than later.
As for the rest, there is corruption everywhere you turn. People who were elected to serve the populace are refusing to step down even when there is clear evidence of their wrong-doing. There is no hope that they will ever be punished. People are taking to streets and resorting to destruction of public property at the drop of a hat. Hindus and Muslims are busy fighting each other. And sections in different states are forever on the lookout for a reason to demand a separate state.
Enough of a reason to officially change our motherland's name to "The Banana Republic of India"!
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