The Indian economy is in the clutches of bizarre paradoxes. It’s not a case of a glass that’s half-full or half-empty. It is an inexplicable scenario where the glass sometimes seems empty, other times full, and sometimes half-empty or half-full. It depends on the specifics that you glean and analyse. However, people—from the rural farmer to the urban middle class—and decision-influencers—from policymakers to economists—are bewildered.
For every element of bad news, there seems to be corresponding good news. For every argument, there seems to be a cogent counter-argument. Even as critics flay the government over the state of the economy, Union ministers slay the censures. The economic ball is consistently kicked and re-kicked from one half to the other. The people, meanwhile, are simultaneously angry, frustrated, elated, depressed and happy with the unruly game.
Consider the following examples to get a feel of what’s happening around us:
- High prices of food items such as onion, garlic and milk co-exist with...