March 25, 2019

Economy: good, bad and ugly views

In this article for the New Indian Express, Shankkar Aiyar discusses the good, bad and ugly views surrounding the debate around the economy as we approach the 2019 general elections in India.

 

He starts off by describing that India has stuck to its argumentative tradition but unfortunately, it has not helped inform the broader debate around the recasting of the GDP data and withholding the release of NSSO employment and labour. He says "In the run-up to the 2019 elections, argumentative Indians are arguing not with but past each other. It is at best a dialogue of the deaf." 

 

He continues this discourse by categorising the current developments such as the debate around job creation, disinvestment, direct tax collections as good and bad. "On Friday, India was informed the government had collected Rs 85000 crore against the target of Rs 80,000 crore from disinvestments. The good news is the hole in the fiscal bucket will be smaller. The bad news is that disinvestment is no longer about dis-investing but getting Peter to buy PSU to pay Paul."

 

Finally he approaches the realm of ugly with the the position of IL&FS and state plans to rescue Jet Airways. He sums up by saying, "The good sure doesn’t look as good and the incoming government sure has fiscal ‘ask’ and ‘task’ cut out come June."

 

Read the full article here.

Topic : State Capacity / In : OP-EDS
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