Analysis

Growth Predictions

Sometime in August 2010, Rediff, an e-portal reported Mr. Montek Singh Ahluwalia’s prediction " Inflation to be 6% and growth 10% soon.

For the uninitiated, Mr. Monte  Singh Ahluwalia is the Dy. Chairman of the Planning Commission. He has been recently conferred with a Padam Vibhushan for his contribution to (hilarious predictions in) public affairs !

Montek’s predictions remind me of a famed cartoonist, Mr. Sudhir Dar, whose cartoons in the Hindustan Times were a delight. I recollect one particular catoon.

The metrological department had given out a rosy picture of above average rainfall. However the monsoon had failed. The cartoon showed a van of the department 200 kms out of Delhi and a metrologist leaning out to ask a villager “ Kyun bhai, any sign of monsoon ahead”

I have observed that Montek’s mouthing’s are as out of sync with reality as the metrological predictions of the 60’s and 70’s; the others being ‘India Shining’ of the NDA and predictions of astrologers !

He appears to be living in a world of his own, 'a world of economists', a world of make belief. I would rate him a fiddler on the roof at best

Post this reporting on rediff, a reader commented -

I miss those days we found sardars in hilarious jokes and not in the drivers seat of our nation's destiny.

In the first week of Sept 2010, it was reported 'Govt corrects GDP figures'

The report went " Facing embarassment after showing sharply different economic growth fighres based on two different methodoligies, the government has set the record straight on the pace of economic expansion. Admitting the faux pas within a day, the government has revised the economic growth at market prices to 10.02 per cent for the quarter ending June 2010, from 3.65 percent stated earlier.

In a nation that takes everything so lightly -' chalta hai' it comes as no surprise that GDP figures, like everything else including balance sheets are fudged. 

It is high time the nation thinks of introducing some seriousness into governance. How long can we suffer jokers. 
 

05-Mar-2011

More by :  Ravinder Malhotra

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