The Parliamentary statement the government gave on the Pegasus imbroglio is that it is a conspiracy hatched by the powers envious of the country‘s progress. Does this statement sound like the foreign hand bogey of Indira Gandhi days? For a government which believes that everything started in 2014, it must be progress since that year alone. Envy comes from wanting something India has achieved during the interregnum. An analysis will establish whether it was meant to be a red-herring or truly delusional understanding.
We were logging about 8% GDP growth earlier. Pre-pandemic, it had come down to 4% before recording a negative -7% de-growth during the pandemic year. The economy is yet to perk up during the current fiscal. Our GDP shrunk from $2. 7 trillion dollars and the signs are not very bright that the economy is resurgent yet; Educated unemployment rate of the country is 17%, and the average rate is 11%. New jobs are not being created. The share of the profit in the earnings of companies is now becoming larger, and the share of wages is coming down. Various people have seen the possibility of reaching $ 5 trillion to $15 trillion. The first one is not happening in a hurry and could be only after 2030. It is not rocket science to decode when we achieve the latter. India has already entered the orbit of jobless non- growth.
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