Former Chief Economist of World Bank hints why India can become world's worst performing economy
New Delhi: Former Chief Economist of World Bank, Kaushik Basu recently took to his Twitter handle and briefed his views about how North Korea went on to become one of the worst-performing economies in the world.
In the tweet, Basu added that North Korea became one of the worst-performing economies in the world by dismissing reports and data that showed its economic slowdown as “anti-national propaganda” instead of taking corrective actions.
“North Korea became one of the worst performing economies in the world by a simple technique.—Every time data emerged showing that its economy had slowed down, instead of taking corrective action, this was dismissed as anti-national propaganda” Basu who is also a Professor of Economics, Cornell University, wrote in his tweet.
Although not in clear words, it was evident Basu was taking a dig at the approach of right-wing Indians, and those who are part of the government, who are often seen siding with and defending the government on the emergence of poor economic reports and data of slowdown.
Basu’s followers and other Twitter users were also quick to pick up and the hint Basu dropped with the tweet. While many users agreed with Basu’s views, some believed otherwise.
North Korea became one of the worst performing economies in the world by a simple technique.—Every time data emerged showing that its economy had slowed down, instead of taking corrective action, this was dismissed as anti-national propaganda.
— Kaushik Basu (@kaushikcbasu) December 10, 2020
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Cargo vessel heading to Lakshadweep from Mangaluru port sinks, 6 crew members rescued
Mangaluru: A cargo ship identified as 'MSV Salamat', which was en-route from the Mangaluru port to Lakshadweep, reportedly sank on Wednesday morning, about 60 nautical miles southwest of Mangaluru on the Karnataka coast. The Coast Guard has rescued 6 crew members on board.
The vessel had departed from Mangaluru port on May 12, carrying cargo including cement and construction materials, and was scheduled to reach Kadmat Island in Lakshadweep by May 18. However, on May 14, at around 5:30 am Indian Standard Time, it was hit by a massive wave, which is believed to have caused the ship to sink.
However, The exact cause of the incident is yet to be confirmed.
According to reports, the crew managed to abandon the sinking ship and took refuge in a small boat. They were later spotted by the crew of another passing vessel, who alerted the Indian Coast Guard in Mangaluru.
The patrolling ICG ship Vikram rescued all the crew from the dinghy boat, provided first aid and brought them to the New Mangalore port on Thursday, Coast Guard officials said.
