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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India moving towards becoming global economic powerhouse: Kovind
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Amritsar (PTI): Former president Ram Nath Kovind on Friday said that with digital transformation, economic reforms and a strong focus on the ease of doing business, India is moving towards becoming a global economic powerhouse.
He was speaking after inaugurating the 19th edition of the Punjab International Trade Expo (PITEX) in Amritsar.
The former president said that this 19th edition of PITEX is being organised at a time when India is recognised as one of the fastest-growing large economies in the world.
Speaking at the inaugural ceremony of the event organised by the PHD Chamber of Commerce and Industry (PHDCCI) the former president, while referring to Punjab, said the state is a living example of courage, sacrifice and enterprise.
"The spiritual light of Sri Harmandir Sahib (Golden Temple) inspires peace and humanity across the world. The heritage of Punjab is deep and inspiring," Kovind said, according to a statement issued by the PITEX.
The former president congratulated the PHDCCI for hosting the 19th edition of PITEX and suggested that the chamber should expand PITEX outside Punjab.
He proposed that a similar event should also be held in New Delhi.
