Those in power must empathise

Apart from the hardware of macro-economic policy, officials in power must implement a software solution of listen, listen and listen

Until just a few months ago, the Indian economy was supposed to be booming, among the world’s fastest growing. Suddenly, high-level discussions are going on about a slowdown amidst disbelief and confusion. Although the Prime Minister welcomes businessmen as wealth creators, others in authority browbeat (like threatening a jail term for not spending corporate social responsibility or CSR budget), bureaucrats interpret data to avoid upsetting ministers, while bankers and economists diagnose ailments from 30,000 feet height.

I have no doubt that government wants to appreciate the real problem, but it must first admit that there is a problem. Maybe it can