Finance Minister in a Google+ Hangout: March 4, 2013 – News n Analysis by Dr. Raj Baldev, Cosmo Theorist, on Finance Minister P. Chidambaram on Monday on Google + Hangout, he was answering to the queries of the Indian citizens about the budget.
He also tried to discuss about the Indian economy with certain industrialists like India chief economist, JPMorgan; Anand Mahindra, chairman and managing director of Mahindra & Mahindra; and Amit Singhal, senior vice-president, Google. What would you like to say?
In his first Google+ Hangout interaction, Chidambaram on Budget, praised himself and his budget, he said the government has done all that was possible within the forced or controlled economy.
To sum up on one vital question, to escape the right answer, Mr. P.Chidambaram took a roundabout way, he looked to have intentionally taken the issue of recession in the EuroZone including Germany.
He also took the example of UK, about which he wanted to impress, is also running in hot water, he explained that UK has constricted in the last quarter.
After making this ground, he came to the subject of India, just to convince that there is no fault of his govt. in any type of result of the growth how it went so low, and said: “We are trying to stabilize our economy and get the growth engine started”.
“In 6 years we have grown by over 8% This year we slipped to 5% but we can climb up again We have not gone so very wrong that we have to wear sack-cloth and ashes”, he added.
To my analytic view, his answers were not convincing, why India slipped to 5% because of the faulty policy of the govt., the deep fall of Indian growth has not come from Europe, Germany or UK or as he wanted to convince. It has occurred due to wrong policies of the govt. and there is no harm in admitting it.
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