Narendra Modi, India's new prime minister, has, since coming into office, made some interesting economic decisions. The article below describes them well, but only in its last paragraph does it elucidate the most interesting decision: Modi's intention to "discontinue, revise or delay some official data that does not flatter [the economy]."
It is understood that a full information economy is most helpful for a market's successful operation, and Modi's decision has made it more difficult for people to gather that information. Without said information, it will be difficult in the future for individuals and firms to make educated decisions about how to act.
Additionally, on the world stage, only limited information will be available to other states, leading to a skewed understanding of India's economic situation.
The other interesting part of the article is that despite Modi's promises of radical change, he seems to be following the preceding UPA policies at least for the most part.
Article: https://www.economist.com/finance-and-economics/2019/02/28/narendra-modis-most-distinctive-economic-policies-were-his-worst
3 comments:
I completely agree, it is suspect that he would want to hide information about the economy. I believe that if a government decides to publish information about the economy it should be accurate.
I'd agree that this practice is shady. Moving forward, I am very interested to see how their economy starts to move or fluctuate now that it is farther away from full information.
I agree with both Jacks in this situation. I don't understand why a prime minister and leader of a country would seem to hide information about their current economy. I think that this misleading information shouldn't have been published in the first place, thus making their citizens feel they aren't receiving full information, as Jack Dugan said. It will be interesting to see what happens in the future.
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