Changing face of economic management
It is clear that something has changed inherently as far as perception of economic health is concerned. It appears that the world economy has characteristically moved away from GDP and Growth numbers in real time. “Individual human well being” as quantified by “job” is now a crucial factor in the economic assessment. The new found emphasis on job creation in western world, struggling to balance its act against highly skewed economic distribution is, however, understandable.
The price indicators seesaw of anything and everything post economic upturn testifies this economic criticality of job creation. It is surprising then why India is not picking up this shift in economic planning particularly when its economic thinking is copied from the Developed countries on daily basis.
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