Monday 13 December 2010

9% growth… from selling the country

“Rajeev Chandrashekhar, a Rajya Sabha MP and former FICCI president, has pointed out that agriculture has grown at a dismal one per cent and manufacturing at no more than three per cent. The so-called miracle has been achieved through phenomenal growth in mining, real estate, construction.” So says Neelabh Mishra in his article in Outlook, titled The Banana Sheikhs.

Read this with Jagdish Bhagwati’s lecture The Unfinished Reform Agenda. The good professor says nothing about the sources of growth, even while  he rages against Indian novelists being allowed to write on the economy.

When ordinary people cannot see the growth they are supposed to be enjoying, who do they turn to, economists with figures or novelists with facts?

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