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Letter to BS: GDP growth slowest in 11 yrs due to govt's fixated politics

The government had no inkling of the ensuing collapse of every facet of our economy

Business Standard 

economic slowdown
Illustration: Ajay Mohanty

The government has brought GDP growth to the slowest in 11 years, a result of its fixated politics and prescriptive economics. This regime came in by building up suspicion over every sphere of governance by its predecessor.

However, it ended up implementing ideas such as demonetisation, only to find those disproved and, in the process, knocking out the cornerstone of our cash centric architecture. It had no inkling of the ensuing collapse of every facet of our economy.

More than a flagging economy, it is the feckless efforts at its repair that is a bigger concern and it is made worse by the government’s apathy to economists and its disregard for the autonomy of pivotal planning and oversight institutions.

There is frenetic activity but little progress in the economy ,made worse by the unsettled socio political environs induced by the energetic propagation of inconsequential themes .

R Narayanan, Navi Mumbai

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First Published: Wed, January 08 2020. 21:55 IST