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Saturday, August 6, 2011

India should stay focussed on growth: Kaushik Basu

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PTI / The Hindu / NEW DELHI, August 6, 2011.

Standard & Poor’s downgrading of U.S. sovereign rating is a wake-up call for the American economy but India should keep up its “excellent” growth record, Chief Economic Advisor Kaushik Basu said on Saturday.


“While I personally feel the U.S. economy is very strong, rating downgrade like this is a wake-up call,” Mr. Basu said.

The Standard & Poor’s downgraded the U.S. government’s ‘AAA’ sovereign credit rating, stating that predictability about American policy making and political institutions have weakened at a time of fiscal challenge.


Dear Mr. Basu,

01) Growth that cannot control prices and make life miserable for middle class and lower classes in no growth;

02) Growth that could not create more jobs than it takes away from the Agricultural Sector is not Growth either;

03) Growth without equitable distribution of wealth to all stake-holders is a curse to the Economy!

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