Mr Modi\'s last chance to jump start the economy

Mr Modi's last chance to jump start the economy

Economic historians will judge him by this, just as they judge P Chidambaram by his bold cuts in income tax rates in 1997 and Manmohan Singh by his 1991 reforms

Topics
Narendra Modi | Modi govt | Gross domestic product

T C A Srinivasa-Raghavan 

T C A Srinivasa-Raghavan

Now that practically every economy in the world is down on its knees, a question that was frequently asked 75 years ago, when the Second World War ended, is being asked again: How to get them back on their feet and trotting again? It’s not that hard a question, provided you remember two answers from back then. If you don’t — and it is likely that you either don’t or were never taught it — here it is.

One is known as the Harrod-Domar model. The other is the Big push Theory. The former is named after a British economist, Sir Roy Harr­o­d, and ...
First Published: Fri, July 17 2020. 22:47 IST