Former Union Minister, economist, journalist and author Arun Shourie has slammed the government for working without following the democratic process of consultation. Excerpts from an interview with ETNow.
ET Now: How do you comment on the state of the economy? The GDP numbers are bad, but we also see green shoots of recovery. Is the government doing the right thing?
Arun Shourie: It is an event management company. I feel so because there is no dialogue, because there is no consultation, there is no feedback. It is just one man, one instrument and one legitimiser. The stage is set for great blunders like demonetisation. The only saving thing about demonetisation was that it was a blunder, which was related to domestic policy. But if a blunder of this magnitude occurs to national security or in relation to foreign policy or in relation to our relationship with China, then it will be very bad. The results will be catastrophic for India.
Today, investment has not been revived; private investment has not revived. The banking sector problems remain as they were. Exports have revived now only in the last three months, because the world economic situation is better today than it was earlier.