another area of UPA 'accomplishment': a C in economic policy

aug 24th, 2006

after all, the UPA's objective is to keep india poor and enslaved and personality-cult-sodden. that they are accomplishing splendidly, just as nehru did for so many years.

Shankar Acharya: Economic Policy: Mid-Term Report 

       A PIECE OF MY MIND
http://www.business-standard.com/common/storypage.php?autono=102227&leftnm=4&sub\ 
Left=0&chkFlg=

       Shankar Acharya / New Delhi August 22, 2006



       In a few weeks the UPA government will reach the mid-point of its
five-year term. It's an opportune moment to assess the government's economic 
policy record (my focus is on policy rather than outcomes, since the latter
typically come with a lag and are also influenced by other factors such as
global economic conditions). I have chosen ten key policy dimensions and 
ascribed (subjectively) marks out of a maximum of 10 for each, with the proviso
of giving a minimum of 2 marks as sort of "grace" marks or to cover some good
policies I may have overlooked. Broadly speaking, the first five policy 
dimensions are "macro" and the latter five "sectoral". The marks are in the
table but let me comment briefly on each assessment.

... deleted

       Totting up, that yields a 'barely passing' 21 (out of 50) for "macro" 
policies, a shameful 17 (out of 50) for "sectoral" policies and a flunking 38
per cent overall.

       If policy is this bad, how come the economy is growing at 8 per cent? For
clues to this puzzle see my columns (BS, 23 May 2006 and forthcoming). 

       The author is Honorary Professor at ICRIER and former Chief Economic
Adviser to the Government of India. The views here are personal





Sanjeev Nayyar