Indian economy is under great chaos and the government is seen rubbishing the claims ever since the opposition had raised a protest. Showing the mirror to the government, Nirmala Sitharaman’s husband Parakala Prabhakar has criticized the center’s economic framework.
Weak economic framework
Parakala Prabhakar, who happens to be an economist and husband of Indian Finance Minister Nirmala Sitharaman has expressed concern over the country’s scathing economy. The 60-year-old has said that Narendra Modi led-government has not shown willingness to frame its new policies.
Accusing the government of denying the economic crisis, Prabhakar said, “While the government is still in denial mode, data flowing uninterruptedly into the public domain show that sector after sector is staring at a serious challenging situation.”
Nehruvian ideas of socialism
He has criticized the ruling Bhartiya Janatha Party for not developing its road map of the country’s economy. He said that BJP rejected Nehruvian ideas of socialism for political agendas. “The issues that catapulted the party on to the center stage of the country’s political discourse and then to the seats of power both in the Centre and in various States had little to do with the articulation of an economic road map and its endorsement by the electorate,” he said.
He further advised the government to adopt Narasimha Rao- Manmohan Singh’s economic architecture. He said, “The Rao-Singh policy scaffolding remained largely unaltered in the last quarter-century. The Congress came to terms with the repudiation of Nehruvian economics by erasing Rao’s memory from its organizational hard disk. But it still kept its connect with the 1991 shift by retaining Dr. Singh. It thus came to terms with the dismounting from the Nehruvian ‘commanding heights of the economy’. It did not flinch from anointing Dr. Singh as its Prime Minister in 2004.”
“The BJP could, therefore, have released itself from that limiting agenda by wholly embracing and even owning the Rao-Singh economic architecture.”
The following article is based on Parakala Prabhakar’s statement in The Hindu
