Base year change pushes GDP growth to 6.9% in 2013-14 - The Hindu
Base year change pushes GDP growth to 6.9% in 2013-14 - The Hindu
My VIEW:
My VIEW:
Change
in base year may not change realities at the ground level.
in base year may not change realities at the ground level.
But, it is
comforting to find that slowly we are moving to a scenario when more authentic
and current figures will guide our own planning and assessment of our country’s
position vis a vis other developing nations by other countries and rating
agencies.
comforting to find that slowly we are moving to a scenario when more authentic
and current figures will guide our own planning and assessment of our country’s
position vis a vis other developing nations by other countries and rating
agencies.
The previous RBI Governor
Dr Subbarao had often expressed anguish over the obsoleteness of figures which
formed the basis for crucial policy decisions. India was late in introducing even
the concept of purchase power parity while making projections and comparisons
and has been very conservative in assessing the country’s net worth. All these
allowed other countries to show India in poor light.
Dr Subbarao had often expressed anguish over the obsoleteness of figures which
formed the basis for crucial policy decisions. India was late in introducing even
the concept of purchase power parity while making projections and comparisons
and has been very conservative in assessing the country’s net worth. All these
allowed other countries to show India in poor light.
We should not further
delay creating a reliable record of our country’s resources irrespective of
ownership and classifying the gross assets into categories like:
delay creating a reliable record of our country’s resources irrespective of
ownership and classifying the gross assets into categories like:
(i)
Assets which have to be protected, but not
available for immediate use(illustratively, these may include heritage assets,
wealth with religious organisations etc)
Assets which have to be protected, but not
available for immediate use(illustratively, these may include heritage assets,
wealth with religious organisations etc)
(ii)
Assets which can be brought to the mainstream
and can be put to productive use.
Assets which can be brought to the mainstream
and can be put to productive use.
(iii)
Assets which should be part of the
planning process with nation’s priorities in economic development in view.
Assets which should be part of the
planning process with nation’s priorities in economic development in view.
M G Warrier,
Thiruvananthapuram
Thiruvananthapuram
Comments