Former mathematical economics professor of harvard university, estimates that the Indian black money economy is 120 lakh crores - that is around two billions US $? That is the size of the official Indian economy? An unknown proportion (minimum 20%) is held in overseas accounts (predominantly Swiss and other European tax shelters?). This makes a complete monkey of all the monetary and fiscal economic policies and strategies, of the learned mandarins, with fancy international degrees, sitting in Finance ministry and in the RBI? If a factory manager, says that half of his factory is a black box without any information - he is not managing - he is reacting to events beyond his control, on a day to day basis - and praying that things go off well, at the output stage!? That seems to be an apt description, of the learned economists, now managing the Indian economy?
Posted on: Tue, 28 Oct 2014 15:16:01 +0000
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