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LATEST NEWS UPDATES | A brief exercise in not taking the Economic Survey 2020 seriously -S Subramanian

A brief exercise in not taking the Economic Survey 2020 seriously -S Subramanian

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published Published on Feb 7, 2020   modified Modified on Feb 7, 2020
-TheWire.in

This survey was about wealth and entrepreneurship and free markets and privatisation, not about poverty or inequality or public employment schemes.

This is a quick summary review of the latest Economic Survey (2019-20). I have to admit that this quickly-written assessment is a product of an equally quickly-read Survey. If I have not quite pored over it, it is because I found no evidence in the Survey to suggest that it is a document that was intended to be taken seriously – solemnly perhaps, but not seriously. Under the circumstances, I hope I will be forgiven for having spared myself the ordeal of a detailed study of the Survey, and the reader the even greater ordeal of a detailed review of it. Hence this considerately brief commentary.

The Survey is in two volumes, Volume 2 being given over to a purported assessment of the state of the economy, and Volume 1 to the—ah—philosophical perspective guiding it. As far as one can tell, the Vision directing the enterprise seems to be inspired by an infatuation with the perceived virtues of wealth creation and the market. These virtues are seen to be embedded in our civilisational origins (there is much talk of Kautilya and the Thirukural in this tract), and they are extolled with a somewhat startlingly passionate ardour for freedom of the market and against intervention by the government.

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TheWire.in, 6 February, 2020, https://thewire.in/economy/union-budget-economic-survey-2020


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