Get Even More Visitors To Your Blog, Upgrade To A Business Listing >>

A rosy economic picture.


It is the moral responsibility of the Economy of any country that the Economic principles of the Government do not come close to the principles of Charvaka of Mahabharata. Go into debt and drink ghee is indeed a border line of non-implementation, but Union Finance Minister Nirmala Sitharaman's approach seems to lean towards Charvak. Chief Economic Adviser to Govt. V. Subramanya's words in advocacy of the Center are intellectually appealing, but on the ground, the government's financial infrastructure is fraught with danger. It is indeed true that the economy, which sat at the bottom due to the lockdown, after taking a V-shaped nose dive, started to rise again after the unlock, but an era can now be said to have passed. The condition of many countries of the world was similar due to Corona, but how and in which way the government is making the country sit is a matter of curiosity for the people.

A summary of what Sitaram has repeatedly said is that the country's economy has passed through its worst phase. A dark night has passed and now the rays of a new dawn have dawned. Thus, the position of Finance Minister is the responsibility of keeping hopes alive. The closer it is to the reality, the healthier the country's economic future will be. What the government calls a V-shape recovery is possible only if the government corrects the central policy economic mistakes of the previous years. According to the government's assumption, the GDP based comprehensive growth rate will increase to 11 percent in the next financial year 2023-24. Although the government has shown the possibility, it seems like a pipe dream these days. Surprisingly, this estimated growth rate is calculated from a base figure of a collapsed rate of minus 7.7 percent.

Just as Arun Jaitley's mathematics was beyond the rules of mathematics, Nirmala Sitaram's mathematics is a determined rulelessness. It is not easy to understand. The same was true of the disputed unemployment figures. A (Kapol) notional growth rate of eleven percent is a huge leap. It is a matter of faith for all BJP-inspired economists and therefore cannot be challenged now without the ravages of time. The question is the intentions and tactics of the government to achieve the target. It is certain that the government plans to pour billions of rupees in public works through various infrastructure works. How the government will raise the capital for that has not yet been clarified. So those schemes will run mainly on the basis of borrowing and drinking ghee.

The import-export picture is very encouraging. Even though the volume of total goods decreased due to the lockdown, this time the current account surplus (increased current account profit) shows a growth of three percent, which is also a record recorded in the last seventeen years. Foreign exchange reserves also reached $586.1 billion, the highest level till date. China's sudden increase in imports for the past six months has also contributed significantly to this. China is building new reserves of essential commodities for the next five years. This Chinese activity is also mysterious and typical of pre-war preparations. Various levies by the government have also gone up. The GST collection of last June has also been half done.

Global rating agencies make a variety of conclusions and some of them are artificial. If the government pays attention regardless of it, there are many positive signs in the country's economy, but for that, the NDA government has to pay as much attention to the government as it pays to the party, which is a tough mountain for it. Therefore, the highway remains the same for the government or only if the government expenditure increases, the stagnant economy can get vitality and catch the boom.



This post first appeared on The Editorial News, please read the originial post: here

Share the post

A rosy economic picture.

×

Subscribe to The Editorial News

Get updates delivered right to your inbox!

Thank you for your subscription

×