Has the editorial policy of Indian newspapers changed overnight. From a pessimistic cast, they have moved to an optimistic mould. They find good in everything. Economy is expcted to grow over 6 % next year and even peak at 7% or so by the end of the next year. Interest rate is likely to come down. Fiscal deficit is likely to touch the lowest ebb. Inflation will be contained. Both wholesale and consumer index are going south, which will be an enabler for cutting the rate of interest by the RBI. Stock market is at an all time high etc. etc.
That evokes in me some kind of nostalgia. During the last NDA regime, some uncommon terminologies have cropped up such as " India Shining", "Feel Good Factor" and now it is more Indianized "Acha Din" (Good Day). The well being of a nation is counted in terms of the state of living of the men who have the least income. What they can afford? Whether, they can buy the basic necessities with the money they have in their pocket? A visit to the market will give one more insights into the conditions there. Onions are priced close to Rs 20 ( for ordinary variety) for kilogram and for good variety, the prices still hover around Rs 35. For tomatoes, it could vary between Rs 25 to 40 depending on the variety. For the common man's subzi -aloo- cost is between Rs 25 to Rs 50 per kilogram, depending on the quality and from where one is buying. Is it heralding of Acha Din. We have to reckon that during this season last year, all these vegetables were sold at much a cheaper price. For instance, for Rs 15, one could get two kilograms of aloo and so on.
What made the journos change the track? If it is a break from the past and to shower some cheer into an otherwise morbid situation, it is okay. But that is not the dharma of the journalists. They have to place the facts before the public and for that they have to move from their seats. In stead of getting a quote from a well known economists or a political commentator, they should listen to a homemaker from a poorer set up to know how she is finding difficult to make both ends meet. Her husband who is working as a plumber, daily wager, loader etc may be earning a few hundred rupees whenever they get the work. It is absolutely dificlt for them to feed the family apart from educating their younger ones. On the top of it, there are the expenses towards medicine, transport etc, which make him or her broke in the first half of the month itself.
During the peak of wiki leaks, The Hindu newspaper serialized the exposes and some of them were realting to India. I distinctly remember that there was a dispatch sent from India by a US diplomat, which clearly tells that to create a public opinion in favor of any issue or against , it is prudent to invest in the growing tribe of economists in the country. They can calibrate their comments in whichever way that one wants.
The bottom line is that when the stock market zooms high, it is not acha din, when the estimates for growth is pegged up, it will not change the life of an ordinary citizen qualitatively. They feel good only when things are good. They also know that illusions are man made to mislead people.
Business Economics & Services Team
0 comments:
Post a Comment