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What is ‘truth’ of Indian Economy? P Chidambaram explains

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As Parliament’s delayed Winter Session was nearing an end, the finance minister found himself in an awkward situation. On January 4, 2018, the Rajya Sabha had listed a short duration discussion on the state of the economy and he was required to reply. Twenty-seven days before the Budget, it was an awkward time to speak extensively on the state of the economy or to give any assurances. The truth about the economy is known to everyone. Mr Jaitley’s reply was the post-truth. I think it is necessary to state the truth once again.

Growth Rate, Fiscal Deficit

1. FM: “Over the last three-and-a-half to four years, the government has taken several steps to ensure that the decision-making process with regard to economy is in the interest of both public and economy and remains reliable.” The decision-making process of the NDA government was either opaque (demonetisation) or erratic (GST). Given the many instances of reneging on promises, certainly there was no reliability. The result is the slowdown, now admitted, reluctantly, by the government. In the seven quarters beginning January 2016, the quarterly growth rate of........

© The Financial Express