Economic Survey: Will this years one be just a namesake?

CNBC-TV18 asks Dr Kaushik Basu if he should bother at all as he gets set to present his last economic survey tomorrow. After all, none of his fresh ideas have found acceptance in the FM's policies.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead master your money SME Special
moneycontrol.com

Home » News » Economy

Mar 15, 2012, 03.57 PM | Source: CNBC-TV18

Economic Survey: Will this year's one be just a namesake?

CNBC-TV18 asks Dr Kaushik Basu if he should bother at all as he gets set to present his last economic survey tomorrow. After all, none of his fresh ideas have found acceptance in the FM's policies.

Like this story, share it with millions of investors on M3

Economic Survey: Will this years one be just a namesake?

CNBC-TV18 asks Dr Kaushik Basu if he should bother at all as he gets set to present his last economic survey tomorrow. After all, none of his fresh ideas have found acceptance in the FM's policies.

Post Your Comments

Share Cancel

At the end of a three-year term, as Dr Kaushik Basu gets set to present his last economic survey tomorrow, CNBC-TV18 asks him, should he even bother? After all, none of the fresh ideas proposed by him have found any acceptance in the finance ministry's staid policies. Aakansha Sethi of CNBC-TV18 brings a quick heads-up on what is to be expected in the survey.

Basu has been one of the finance ministry's most eclectic chief economic advisors, she reports. In his first year at North Block, he introduced several fresh ideas to tackle inflation, corruption and boost investment.

However, three years later, as he gets set to present his last survey, the team at North Block is faced with high inflation, moderating growth, a burgeoning deficit and a weak political economy.

While FY13 growth is likely to be forecast at about 8.5%, what are the solutions that Basu will propose this time? Remember that FY12 growth forecast at 9% is likely to be missed by two percentage points. Recommendations like FDI in retail have borne the brunt of politics while direct transfer of subsidies is still at trial stage.

"I was frightened about everyday decision-making and the speed with which we okay, we give permission to someone to start something, the speed with which we allow a firm to close down. On FDI in retail, decontrol of diesel I might have a view, but I accept that India is a democracy, there is a collective decision-making, and I don't have all the wisdom. There are other opinions, other views; we want to bring it on broad. It has to happen at some point or you have to take a decision not to do it," Basu said on April 24, 2011.

The last survey spoke of the need to foster the culture of honesty and trustworthiness for rapid and robust growth- a suggestion that has possibly been the least implemented. The next year will perhaps tell if FY13 will be a similar story.

Ads by Google

Buy, Hold, Sell ? Hear it first on M3
Economic Survey: Will this years one be just a namesake?

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login