Nilgiri
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- Aug 4, 2015
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Indian economy was already well managed
No it wasn't. The country was growing inspite of the reckless fiscal situation the UPA 2 govt had got itself into....not because of it. I'm not even going to bring in the corruption, lack of direction of reform, over reliance on trickle down effect and complete long term paralysis......because just the fiscal deficit profligacy is quite sufficient in illustrating how bad the UPA 2 administration was.
but Pakistan economy under Zardari govt had not only the problem with growth but be it close to 9% deficit,revenue growth rate on average was 3-4%(except for last year) and even on inflation front(inflation in 2009 when in the region was at historic low like today,Pakistan inflation was beyond 20%)
Fair point. Yes if we are talking relatives, you have a solid point and I won't dispute it. The benchmark that I have for India has always been China (and South Korea in the 70s and 80s) regarding growth trajectories. Whenever it underperforms severely (in my view and sheer growth rate is only one part of the story)....I basically call it mismanagement....even though it can be tempered by comparing with various other countries.
The IMF program for Pakistan was not growth oriented,i remember reading something like this when they agreed to it in 2013 but rather to stabilize the economy indicators.
The IMF is a farce when it comes to promoting growth. @Jacob Martin (when he is back from his ban) can explain it much better than I could. So I am not surprised at all.
My own prediction for this year growth are 4.8-5% because LSM performance also improved in the first quarter
Well lets hope this growth increases more in the coming years. Pakistan cannot afford to be stuck at 5% growth in the long term.