2009 to 13 period: corporate investments boomed, govt did spend ok on infra, household investments ( real estate) boomed. Household incomes grew decent and consumption was robust

Yet corporate profits as a % of GDP declined. And GDP itself grew rather tepidly.... why?

One word answer: very heavy current account deficits. And somewhat slow foreign investments.

In other words, we were in some ways funding the growth of rest of the world with our (mal) investments and heavy consumption

Ofcourse current account deficits are in some ways a consequence Consequence of existing bottlenecks
Capacity constraints ( which didn't get solved because of investments because investments took too long to eventually come on board)

And just lack of efficiency or competitiveness relative to the rest of the world