Honorable - Prime Minster Shri Modi Ji
The Art of Policymaking
The prime minster is a very popular speaker. He is great on the gusting: some may say he is a superb rabble- rouser. But that would be unpar- liamentary language. Anyway, he is good at it; the names he calls his opponents may be impolite, but are memorable. The prime minister has practiced a different art of communication, though, in his weekly radio talks.
The prime minister picked up the issue. He was told that black money is stashed in jewellery and property; but for him, it all begins with cash: whoever buys such assets has to pay cash, for payment by cheque or draft will create a record that will make tax evasion difficult. But his advisors are mistaken. Cash may be the medium, but black money resides, not in any asset, but in a transaction.
It is no unusual for advisors to be wrong. Anyone can get economics wrong. Even where there is no mistake, there are often many policy option, and choosing one requires judgment. This is why the This is why the finance ministry has had an economic advisor ever since I.G. Patel was borrowed form the International Monetary Fund in the 1950s. when I was economic advisor, I did not put all my trust in my judgment; before the budget, I would call in a dozen or so of India’s best economists to meet and advise the finance minister. Prime Minister Vajpayee did even better; he met a dozen good economists, including me, once a month. Narendra Modi also needs to consult, not just economists, but knowledgeable people with differing views:- Says Ashok V. Desai
Demonetization is for losers says world renowned world economist – STEVE HARKE“Criticizing India’s decision to scrap high value currency nots, noted U.S. economist has sad Demonetization is for losers and has been bungled from the start. No one not even Modi knows where India is heading, he further Stated India does not have the infrastructure to adapt to Modi’s Demonetization, He should have known,”