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  1. Real Growth as against Apparent Growth

    If there is one statistic that influences most the policies of a government and by extension the collective policy of the world at large, then it is the ‘growth’ of the nation; by usage this implies the GDP growth of the nation. ‘Growth’ has become synonymous with the health of the nation’s economy. A poor growth rate seems to imply poor prognosis for the ‘health of the nation’ itself.

    The present Indian government led by the ‘economist’ PM bets on ‘sustained high growth rate’ as the panacea for all the problems afflicting the nation. When the growth rate is falling the credit rating given by international agencies goes down and the government goes all out to improve the growth rate by spurring economic activity through various means. ‘Growth rate’ has become the key determinant ...