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Modi Govt’s tenure ‘best years’ of Indian economy: EAC-PM member

Surjit Bhalla, on Tuesday said that the four years of the Modi government are the ‘best years’ of the Indian economy Bhalla also said although the macroeconomic parameters have shown good performance in the last four years, there are concerns over bad loans, and part of the problem can be attributed to the RBI Monetary Policy Committee’s (MPC) decision to keep the interest rates high. We have the NPA crisis that by all account is a lot worse now as a share of GDP or as a share of loans. We should remove the ban on exports and imports on agricultural goods and we should move towards income transfer for farmers, like it is in Telangana, rather than doing it through MSP, Bhalla said. The EAC-PM member also observed that the rupee fall has not been beneficial for the Indian exports. I don’t think rupee depreciation helped India’s exports, he said. Bhalla also pitched for privatisation of public sector undertakings saying there are very little arguments for government running businesses. Story around the world is more and more privatisation not less and less. Air India should be privatised. Government can keep ownership in it but certainly should not be managed by the government, he noted.

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