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The waves

As the Wind Blows

Name:
Location: Chennai, Tamilnadu, India

14 February 2004

As I said before in a post, the BJP is rubbing its hands in glee about the "Feel Good Factor". Advani says he coined the catch phrase for polls, in ET award function.

but the moot question remains, is India really shining and even if it does, could the govt, take credit for it? How far does the "feel good" factor really reflect the real economic scene of the country? now that elections are round the corner, BJP is trying to cash on this "bubbling economy". but is the economy bubbling really?

A recent cover story in Business World poses these posers and has done a good analysis. the story warns about the growing fiscal deficit and how the govt is trying to draw wool on our eyes completely ignoring this aspect.

the story also says that RBI is majorly responsible for the feel good factor. but gives half hearted credit to the government also - particularly to the individual minsters who were pushing the reform process.

some paragraphs are real amusing, particularly in its insinuations that Vajpayee and his team lack economic perspectives. sample this in another segment of the same story : " People who have interacted with him (Vajpayee) say he is not a man for details. "One of the phrases I often hear from Vajpayee whenever I meet him is: Sab kuch siddhant ke aadhar pe hona chahiye," says a senior economic administrator. Vajpayee is evidently more focussed on the core philosophy - siddhant - rather than the administrative details This characteristic is perhaps why others who have interacted with the prime minister have come back a bit puzzled. "I went to some of his advisory council meetings," says an economist. "We would make our speeches, he would silently sit through them, then thank us politely and leave. There was always a good dinner spread after that." So how does a man who is disinterested in economics and impatient with policy details manage to steer his government towards economic reforms?"

howz that? :-)

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