Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 150
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Deprecated (16384): The ArrayAccess methods will be removed in 4.0.0.Use getParam(), getData() and getQuery() instead. - /home/brlfuser/public_html/src/Controller/ArtileDetailController.php, line: 151
 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php. [CORE/src/Core/functions.php, line 311]
Code Context


        trigger_error($message, E_USER_DEPRECATED);

    }
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 You can disable deprecation warnings by setting `Error.errorLevel` to `E_ALL & ~E_USER_DEPRECATED` in your config/app.php.'
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deprecationWarning - CORE/src/Core/functions.php, line 311
Cake\Http\ServerRequest::offsetGet() - CORE/src/Http/ServerRequest.php, line 2421
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Cake\Controller\Controller::invokeAction() - CORE/src/Controller/Controller.php, line 610
Cake\Http\ActionDispatcher::_invoke() - CORE/src/Http/ActionDispatcher.php, line 120
Cake\Http\ActionDispatcher::dispatch() - CORE/src/Http/ActionDispatcher.php, line 94
Cake\Http\BaseApplication::__invoke() - CORE/src/Http/BaseApplication.php, line 235
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Routing\Middleware\RoutingMiddleware::__invoke() - CORE/src/Routing/Middleware/RoutingMiddleware.php, line 162
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
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Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Error\Middleware\ErrorHandlerMiddleware::__invoke() - CORE/src/Error/Middleware/ErrorHandlerMiddleware.php, line 96
Cake\Http\Runner::__invoke() - CORE/src/Http/Runner.php, line 65
Cake\Http\Runner::run() - CORE/src/Http/Runner.php, line 51
Cake\Http\Server::run() - CORE/src/Http/Server.php, line 98

Warning (512): Unable to emit headers. Headers sent in file=/home/brlfuser/public_html/vendor/cakephp/cakephp/src/Error/Debugger.php line=853 [CORE/src/Http/ResponseEmitter.php, line 48]
Code Context
            if (Configure::read('debug')) {

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        LATEST NEWS UPDATES | Institutions weakened, economy crippled -M Suresh Babu    </title>
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-The Hindu





The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference





Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of..."/>
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-The Hindu





The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference





Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of..." />
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                            <div style="text-align: justify">-The Hindu</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of economic development practitioners and reformers so often disappointed?&rdquo; According to him, &ldquo;one answer is that development policymakers and reformers are congenital optimists. Another answer is that good plans are regularly defeated by those who occupy strategic positions. An intermediate answer is that institutions are important, yet are persistently neglected in the planning process.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The question and all the three answers assume relevance in the context of India&rsquo;s recent economic performance. The slowdown in GDP growth rate has been dissected, digressed and disowned by analysts, commentators and policymakers. However, the diagnosis is far from complete and the growth engine is running out of fuel. Both the demand- and supply-side factors have been central in all the analyses, but the crucial role of institutions in shaping the outcomes of both the factors in this episode of slowdown has been neglected. This has resulted in a series of banal policy measures for reviving growth.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">A market-centred economic model necessitates creating and sustaining credible institutions that further the efficiency of market mechanism. Given the possibility of &lsquo;market failures&rsquo;, such institutions assume a larger role in the economy in shaping expectations and decisions. Journalist Henry Hazlitt grouped the pillars of market economy into private property, free markets, competition, division and combination of labour and social cooperation. Institutions are needed to strengthen these foundational pillars are a prerequisite for markets to work.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Please&nbsp;<a href="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U" title="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U">click here</a>&nbsp;to read more.</div>                                                           
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        LATEST NEWS UPDATES | Institutions weakened, economy crippled -M Suresh Babu    </title>
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-The Hindu





The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference





Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of..."/>
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-The Hindu





The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference





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                            <div style="text-align: justify">-The Hindu</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of economic development practitioners and reformers so often disappointed?&rdquo; According to him, &ldquo;one answer is that development policymakers and reformers are congenital optimists. Another answer is that good plans are regularly defeated by those who occupy strategic positions. An intermediate answer is that institutions are important, yet are persistently neglected in the planning process.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The question and all the three answers assume relevance in the context of India&rsquo;s recent economic performance. The slowdown in GDP growth rate has been dissected, digressed and disowned by analysts, commentators and policymakers. However, the diagnosis is far from complete and the growth engine is running out of fuel. Both the demand- and supply-side factors have been central in all the analyses, but the crucial role of institutions in shaping the outcomes of both the factors in this episode of slowdown has been neglected. This has resulted in a series of banal policy measures for reviving growth.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">A market-centred economic model necessitates creating and sustaining credible institutions that further the efficiency of market mechanism. Given the possibility of &lsquo;market failures&rsquo;, such institutions assume a larger role in the economy in shaping expectations and decisions. Journalist Henry Hazlitt grouped the pillars of market economy into private property, free markets, competition, division and combination of labour and social cooperation. Institutions are needed to strengthen these foundational pillars are a prerequisite for markets to work.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Please&nbsp;<a href="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U" title="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U">click here</a>&nbsp;to read more.</div>                                                           
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-The Hindu





The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference





Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of..." />
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                            <div style="text-align: justify">-The Hindu</div><div style="text-align: justify"><br /></div><div style="text-align: justify"><em>The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference</em></div><div style="text-align: justify"><br /></div><div style="text-align: justify">Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: &ldquo;Why are the ambitions of economic development practitioners and reformers so often disappointed?&rdquo; According to him, &ldquo;one answer is that development policymakers and reformers are congenital optimists. Another answer is that good plans are regularly defeated by those who occupy strategic positions. An intermediate answer is that institutions are important, yet are persistently neglected in the planning process.&rdquo;</div><div style="text-align: justify"><br /></div><div style="text-align: justify">The question and all the three answers assume relevance in the context of India&rsquo;s recent economic performance. The slowdown in GDP growth rate has been dissected, digressed and disowned by analysts, commentators and policymakers. However, the diagnosis is far from complete and the growth engine is running out of fuel. Both the demand- and supply-side factors have been central in all the analyses, but the crucial role of institutions in shaping the outcomes of both the factors in this episode of slowdown has been neglected. This has resulted in a series of banal policy measures for reviving growth.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">A market-centred economic model necessitates creating and sustaining credible institutions that further the efficiency of market mechanism. Given the possibility of &lsquo;market failures&rsquo;, such institutions assume a larger role in the economy in shaping expectations and decisions. Journalist Henry Hazlitt grouped the pillars of market economy into private property, free markets, competition, division and combination of labour and social cooperation. Institutions are needed to strengthen these foundational pillars are a prerequisite for markets to work.</div><div style="text-align: justify"><br /></div><div style="text-align: justify">Please&nbsp;<a href="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U" title="https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U">click here</a>&nbsp;to read more.</div>                                                           
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Institutions weakened, economy crippled -M Suresh Babu

Published on Sep 29, 2019   Modified on Sep 29, 2019

-The Hindu The credibility of the RBI, the CSO and the Niti Aayog has taken a beating in recent times due to political interference Nobel laureate Oliver Williamson pondered over an important question, around 25 years ago: “Why are the ambitions of economic development practitioners and reformers so often disappointed?” According to him, “one answer is that development policymakers and reformers are congenital optimists. Another answer is that good plans are regularly defeated by those who occupy strategic positions. An intermediate answer is that institutions are important, yet are persistently neglected in the planning process.” The question and all the three answers assume relevance in the context of India’s recent economic performance. The slowdown in GDP growth rate has been dissected, digressed and disowned by analysts, commentators and policymakers. However, the diagnosis is far from complete and the growth engine is running out of fuel. Both the demand- and supply-side factors have been central in all the analyses, but the crucial role of institutions in shaping the outcomes of both the factors in this episode of slowdown has been neglected. This has resulted in a series of banal policy measures for reviving growth. A market-centred economic model necessitates creating and sustaining credible institutions that further the efficiency of market mechanism. Given the possibility of ‘market failures’, such institutions assume a larger role in the economy in shaping expectations and decisions. Journalist Henry Hazlitt grouped the pillars of market economy into private property, free markets, competition, division and combination of labour and social cooperation. Institutions are needed to strengthen these foundational pillars are a prerequisite for markets to work. Please click here to read more.

The Hindu, 27 September, 2019, https://www.thehindu.com/opinion/op-ed/institutions-weakened-economy-crippled/article29522869.ece?fbclid=IwAR2w6GzDqoveq2nMppMXiHuORaLvF81VDb5e4UNzE5GuzQ9vDRa8KPFCn-U

Tagged with: National Institution for Transforming India Aayog Central Statistics Office NITI Aayog Institutions Reserve Bank of India RBI Economic Growth

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