Remember how Athletico Madrid competed so well against Real Madrid and Barcelona for multiple years in the last decade even though their resources were a fraction of them?
When you don't have the $$$$, you must ensure that the coaching and support system is extremely efficient and top notch like Diego Simeone did for Athleti.
You are admitting yourself that India's Football management screwed up. It's better to fix it than keep asking for more $$$$. Indian Football needs to realise that nobody is going to pour $$$$ into them till they draw eyeballs.