Opinion | Economics & Politics
India’s former Prime Minister Manmohan Singh speaks little, but when he does, he has avid listeners
Manmohan Singh speaks little, but when he does, he has avid listeners. This is especially so of the former prime minister’s critique of how the government is handling the economy. After demonetization in 2016, he had warned of growth dropping by 2 percentage points. On Sunday, he pinned the 5% growth figure for this fiscal year’s first quarter on “all-round mismanagement", arguing that India has the potential to grow faster. Despite the fault lines of Manmohanomics, let’s look at his broader message.
Singh has pointed to a stagnant manufacturing sector as a sign that the economy is yet to recover from the “man-made blunders" of a note ban and a hastily-imposed goods and services tax. He has also called for the Centre to reach out to other sane voices for advice. Will his call be heeded? It may be unwise to bet on it, but with our economy in dire straits, it would be best if the Centre broadens the roster of those it consults on economic policy. In the interest of “India first", it should pay attention to voices of reason from across the aisle as well. While many of its revival measures are sensible, a wider discussion on the matter would serve the country well.
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