The Economist calls bluff of “India shining” GDPwalas: Rulers giving false statistics

The cat is out of the bag. The world’s most authoritative economic journal, the Economist (Jan.27, 2007), and also sympathetic to Brahminical rulers, has said India’s GDP bragging and boasting is wholesale bluff and bunkum.

Did we not say that the rulers are simply misleading India and deceiving the outside world on the country’s “booming and bursting” GDP?

The article in the “Finance and economics” section of the Economist by its editor in charge says “comparison with China shows India’s boom may be less impressive than it seems”.

Slap on face of India: What a shame on India’s bragging and boasting Brahmins that the world famous journal so favourable to India’s rulers had to give a slap on their face annoyed by their noisy song and dance over the “soaring GDP” of India claiming that it is about to exceed that of China.

The Economist could not tolerate the bundle of lies and finally had to come out with an authoritative article refuting the official claim of the Manmohan Singh Govt.

The Economist says:

India has been swept by optimism that its economy can do as well as China’s. A recent article in the Economic Times claimed that the growth in India’s total factor productivity (TFP), the efficiency with which inputs of both labour and capital are used, had accelerated, whereas China’s had slowed owing to wasteful investment. As a result, the article boasted, rising productivity — the main driver of long-run economic growth — is now running neck and neck in the two economics. Close inspection of the numbers, however, reveals that China remains well ahead.

False hope of moksha: It is well known how the Brahminical people have been ruling us from thousands of years by giving false hopes. Their “sacred scriptures” are themselves a bundle of lies assuring moksha to all those who bribe and surrender to the Brahmin.

The problem with these people is that they never believe in facts, rational thinking, scientific analysis or logical conclusions. The Brahminical Hindu believes what he wants to believe. And this belief system is killing the country.

Spit on their face: Otherwise, where is the need to bluff on vital statistics which are available to all thinking people the world over and better experts than the Brahmins. Can they (experts like the Economist) not check these facts and figures and spit on their face?

The Economist adds:

Both India and China have large population, low incomes and rapidly rising GDP, yet the composition of their growth has been quite different. A recent paper by Barry Bosworth and Susan Collins, of the Brookings Institution in Washington, DC, explores the source of expansion in both countries, breaking down total GDP growth into increase in inputs of labour and capital, and gains in TFP. In the period 1993-2004, China’s GDP grew by an average of 9.7% a year, India’s by 6.5%. Employment increased faster in India than China, but this was more than offset by a much slower rise in output per worker: only 4.6% a year, compared with 8.5% in China. This reflected both stronger capital investment in China and much faster growth in TFP, which increased at an annual rate of 4% against India’s 2.3%. Contrary to the popular claim that China’s TFP growth has slowed, the authors find that it has accelerated from a pace of 3.6% in 1978-93.

(“Accounting for growth: Comparing China and India” www.tcf.or.jp/data/2006120607_B_Boworth-S_Collins.pdf. “Sources of Growth in the Indian Economy:, www.brook.edu/views/papers/20060803india.pdf.)

Ahluwalia’s bluff: Recently, we had an occasion to hear Planning Commission chief Montek Singh Ahluwalia at the Indian Institute of Science, Bangalore. The packed upper caste audience all came to hear the ex-World Bank official’s fairy tales about “India shining”, and India floating in GDP clouds. They had their hearts fill.

But this “merited” upper caste audience did not have the “merit” to understand Ahluwalia telling that in all the different sectors of the Indian economy (like agriculture, education, health, infrastructure and other social sectors) India is collapsing.

The United Nations Millennium Development Goals (MDG) has said that in social sectors Pakistan, Bangladesh, Lanka are way ahead of India.

Sonia admits India’s pain: When over 85% of the Indian population comprising SC/ST/BCs and Muslim/Christian/Sikhs are in great pain, how can India be flying and shining? This 85% is non-Hindu and they feel they are left out.

Here is what Sonia Gandhi herself admitted on Jan.29 on the health of India:

New Delhi: Facing criticisimg over issues like that of SEZs and farmers’ suicides, UPA chairperson Sonia Gandhi on Jan.29 virtually admitted that economic liberalisation had not been able to include all sections of the society.

But destitution, poverty, malnutrition and illiteracy are still widespread. Inequality is very visible.

Fruits of this achievement and advance is still inequitably distributed. Is it not the case that a few enjoy the gains, while many bear the pains, she said. (Deccan Herald, Jan.30, 2007).

Sonia alone can get votes for her party (Congress) and that is how she knows where the shoe is pinching. Manmohan Singh is a Babu who can never get elected even to a village panchayat. His policies have led to ruination. And that is why Sonia is deeply worried.

Did we not say that it is high time she removes this fellow who is pushing the country to greater and greater misery and chaos? (DV Edit July 16, 2006: “India grounded & refusing to take off: Manmohan Singh & Co. misleading people”).

Is it a conspiracy of these GDPwalas to ruin the Congress and help the Brahmana Jati Party (BJP) to win?

It needs no expert to say that India is socially and economically sinking.

But our “experts” go on bluffing giving false figures that India is overtaking China which has emerged a world power while India is reduced to a beggar nation. (See also p. 25: “India gets isolated”). But the same Indians were seen begging at Davos.

The rulers will not stop boasting and misleading the people inside India and outside. The masses are helpless. They can react only during the elections.

Sonia Gandhi will learn the lesson only when her party gets defeated.