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Showing posts from April, 2022

Indian Economy Needs Rekindled Animal Spirits

                                   Economics is not a science. Economists and textbooks of economics will die trying to convince you that it is indeed a science but let me tell you, it is not. Economics is more of an  ex post facto  kind of science, even if it is any. It is a rarity when it is able to predict correctly the outcome or repercussions of any measure, which is the touchstone of any scientific discipline, the capacity to foresee. It does explain, with great precision, the rationale behind the events that have already taken place. In those aspects, it does work on logic and has theories and principles of its own. But for ensuing events, it relies more on sentiments than on any logic or equation. Sentiments of the market I mean. With the world market nose-diving, courtesy trade war, rising oil prices, trade protectionism, geopolitical tensions, and numerous other reasons, the resilient Indian economy has also been gasping for breath. The GDP growth percentage has almost