Unlike most other major economies, India managed to prevent any serious damage to it’s economy during the financial crisis of 2008-09. Public memory is short, but it’s important to remember how Dr.Manmohan Singh and Mr.Pranab Mukherjee navigated the ship through the storm.
Also, it’s unfair to club the 6 years between 2011 & 2017 into one homogenous period for comparison purposes.
Between 2011 & 2014, crude oil prices were at punishingly high levels and this had an adverse impact on our Current Acct deficit. That in turn hampered growth.
But after 2014, oil prices have been benign. Despite that, M/s.Modi, Jaitley & co. haven’t managed to ramp up the economy.
It’s convenient to fall in line with the popular narrative that UPA2 was a disappointment & club today’s economic under-performance with the growth figures of UPA2.
But if a commentator is fair & truly honest, he will place the economic indicators of both these eras in the proper context.
Here is a write-up that only sees the pitfalls but has no solutions. Why waste time of yourself & others.
hi, appreciate your thoughts, but please suggest what serious attempts goverment should undertake to revive the growth…
We seem to forget 2 things.
Unlike most other major economies, India managed to prevent any serious damage to it’s economy during the financial crisis of 2008-09. Public memory is short, but it’s important to remember how Dr.Manmohan Singh and Mr.Pranab Mukherjee navigated the ship through the storm.
Also, it’s unfair to club the 6 years between 2011 & 2017 into one homogenous period for comparison purposes.
Between 2011 & 2014, crude oil prices were at punishingly high levels and this had an adverse impact on our Current Acct deficit. That in turn hampered growth.
But after 2014, oil prices have been benign. Despite that, M/s.Modi, Jaitley & co. haven’t managed to ramp up the economy.
It’s convenient to fall in line with the popular narrative that UPA2 was a disappointment & club today’s economic under-performance with the growth figures of UPA2.
But if a commentator is fair & truly honest, he will place the economic indicators of both these eras in the proper context.
So who or what is preventing a government with a clean majority from making that attempt …