Inclusive. Remember this word, you will be hearing it many times in coming months. From all sorts of folks, politicians to business leaders. Because suddenly realisation is drawing that the last couple of years of runaway growth and prosperity has not resulted in inclusive growth. Rather only in a few getting wealthier.
Even China gets worried about such things so presumably we should be too. That we not only do not have inclusive growth but we have runaway inflation from rising prices of goods and services. I now understand that finance minister P Chidambaram and his team have been furiously reworking their Union Budget 2007 proposals so as to ensure that there are more specific steps to fight inflation.
And yet I wonder why we did not see it coming. We all got caught in the great India Shining mirage three years ago and vowed that we would always watch out for such signals. And yet we've had a near encore. Forget wheat prices and onion prices. Real estate prices have doubled in ma…
Even China gets worried about such things so presumably we should be too. That we not only do not have inclusive growth but we have runaway inflation from rising prices of goods and services. I now understand that finance minister P Chidambaram and his team have been furiously reworking their Union Budget 2007 proposals so as to ensure that there are more specific steps to fight inflation.
And yet I wonder why we did not see it coming. We all got caught in the great India Shining mirage three years ago and vowed that we would always watch out for such signals. And yet we've had a near encore. Forget wheat prices and onion prices. Real estate prices have doubled in ma…