Kaushik Basu on growth - predicts double digit growth in 2 years time...he has been unusually prescient till now (he predicted that growth would be back to 8% in 2009, that India should overtake China's growth by 2012)...http://www.indianexpress.com/news/econo ... u/755188/0
SharyaT-ji, you are right..It is impossible to discuss economic policy choices without getting into the political economy...(Which is why it is critical to have a Finance minister who has the instincts and political heft rather than technical competence...)
I agree also on the fact that no country has the same set of issues, therefore solutions need to be different...I went through the SJM site - here's there latest resolution..http://www.swadeshionline.in/resolution-1
I havent seen a more eclectic mishmash of motherhood statements and cliches without an iota of thought - no wonder, they work at cross purposes..Sample this..
1. The Govt. should put and end to deficit budget regime and adopt soon surplus budgetary policy.
3. Greater importance to be given for agricultural production through proper pricing policy.
8. The Govt. should adopt a true universal public distribution system and enlarge the commodities offered. They must be managed efficiently.
The Central Govt. is running huge fiscal deficit due to wasteful expenditure. It was Rs. 3,36,992 crores in 2008-09 climbed to 4,14,041 crores in 2010-11. This is pumping more & more money into the economy causing inflationary spirals.
Govt should run a "surplus" - how? No mention or study of how India can run a surplus fisc....Pricing on agri commodities need to be hiked, and PDS expanded - obviously they dont realise that both these go against the imperative of running a surplus fisc...further, the govt is "pumping more money" by running a deficit - again obvioulsy these guys dont realise that India stopped monetising deficits many many years ago...
You will never see this in any output of a rigorous think tank - including (say) the NAC...You can disagree on the policy assumptions and choices, but would never be confronted with infantile sloganeering...
Why is SJM/RSS-types important? Because they are the patron saint of the premier opposition party, and a wannabe ruling party...And an active participant in executive decision making, when BJP is in power...It is the imprint of the same philosophy that made the BJP preface the agri policy section of its last election manifesto by saying that in the 14th century India had a paddy-productivity of 20 tons/hectare, whereas the curent situation is 5! (BTW, the best in the world is Australia, that has around 10)....Which is precisely why a YS needs to be appointed as FM (against the wishes of the then PM), and then a policy hotch-potch followed for the better part of the term...As Patrick French writes, one of these guys spoke to him seriously on how there were aeroplanes in the VEdic age!
Anyhow, enough of this for now...Once the budget is done and over with, it might be a good idea to examine the impact of NREGA- which is the most contentious of all policy choices made by the INC..."Proof" of its leftist bias in some circles...We have some data now on NREGA - so it would make for interesting analysis and discussoin....I will try and put togtehr a compendium of available resources on the topic...