Economy on the recovery path, says Rajan... | Business Line

Economy on the recovery path      , says Rajan... | Business Line


       Like money, statistics
also has become an integral part of modern life. While speaking about
forecasts, or while making a forecast, remembering the most uncertain weather
forecast is normal. It is safe for RBI Governor to say at this stage that
Indian Economy is on the recovery path. To balance domestic optimism, it is
also part of job for international rating agencies to play with figures and
dampen the enthusiasm of developing countries. Yes, the reference is to the finding
of global rating agency Fitch that its own earlier assessment that India’s GDP
was expected to grow at 8 per cent and 8.1 percent during FY2016 and FY2017 was
wrong to the extent of 20 basis points each(published in Business Line, July
3). When it is forecast, dependent on several variables, such errors are normal
and subsequent corrections are welcome.

M G Warrier, Mumbai


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