Monday, June 04, 2012

MMS: Yesss! Finally! We did it!

jun 4th, 2012 CE

yes, back to the nehruvian stalinist rate of growth. 

mission accomplished.  

every time chidambaram becomes FM, growth goes from 8% to 2% in short order (no, pranab cannot take all the credit for this). pc is a true bharat ratna. we should loan him out as 'assassin of national economies'. send him to the IMF or the world bank. he can be jeffrey sachs 2.0.

---------- Forwarded message ----------
From: K

Party hard, sleep tight.

1 comment:

Arvind said...

Excerpts from an article published in 1999. Notice that the author did not fall for the "dream budget" claims.

How India Holds Itself Back
By Kenneth J. Cooper, Washington Post
Sunday, May 30, 1999; Page B02

A decisive difference is that Beijing has an economic strategy, one geared to promote growth, and New Delhi doesn't seem to have any kind of strategy.

I once asked P. Chidambaram, a Harvard Business School graduate and India's market-oriented finance minister from 1996 to 1998, to outline his coalition government's economic strategy. Instead of outlining goals and priorities, he launched into a laundry list of changes in bureaucratic procedures for reviewing foreign investment proposals, a torrent that left me dazed.

Other Indian leaders...

Like Chidambaram, they missed the point: India needs a economic strategy of its own making, suited to its national strengths, weaknesses and needs.