28 November, 2020

From Onions To Auto And Housing, Why Indian Economy Is Full Of Bizarre Contradictions

Food inflation is up three times but huge discounts in auto and housing indicate that economy is in a confused flux with all vital signs looking bleak

From Onions To Auto And Housing, Why Indian Economy Is Full Of Bizarre Contradictions
outlookindia.com
2019-12-20T13:32:19+05:30

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...
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