Good Crisis Budget : Investment-Led Crisis Next Year Could Make Growth Plummet, Says Pronab Sen

Good Crisis Budget But Investment-Led Crisis Next Year Could Make Growth Plummet, Says Dr.Pronab Sen
                                                                                                                        Rajiv Upadhyay rku
Dr Pronab Sen , former Chief Statistical Officer GOI and an economist , in an interview with Karan Thapar states the unstated facts in budget . The most important thing being that much of the quoted increased expenditure was actually clearing old pending bills . The total arrear payment could be more than 3 lakh crore for FCI alone . Other pending bills were about 1.5 lakh crore . Actual increased expenditure / investments are highly over stated . The real contraction in economy could be about 11 % because of lack of data about unorganised sector , the official calculations are incomplete . Next year there will possibly be an investment crisis . Consequently the growth and employment will dip again . I think some other economist had called it a ‘W ‘shaped recovery . Eventually in 2022 we will be where we were in 2019 before COVID . Government is not responsible for Covid and it operated in absence of any scientifically proven path to save our population . While Korea , Taiwan did a better job due to much better national culture but Bangladesh had again beaten us by saving its population as well as economy .yet partially . One of the reason was that our bureaucracy operates in vacuum with the confidence of a night walker and keeps bumbling repeatedly like in new note size not fitting ATMs in demonetisation days which lead to even riots at many places .
members wanting to know more may view the interview ,. Karan Thapar is emerging as the best journalist  on analysing our economy with the help of superb commentators like Dr Sen . One wishes he had kept his sanity in Godhra days . He has lost credibility in spite of his excellence .
      dr sen karan thapar
Filed in: Articles, Economy

One Response to “Good Crisis Budget : Investment-Led Crisis Next Year Could Make Growth Plummet, Says Pronab Sen”

  1. Prabhat
    February 15, 2021 at 1:23 pm #

    The comment about riots during demonetisation reveals where he is coming from.These armchair experts are far removed from ground reality and keep painting a gloomy scenario due to the tinted glasses they wear.

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