The semantics involved in the presentation of the Annual Economic Survey and the Union Budget are rather amusing. There was a time when GDP growth expectations would be in double digit levels and one would be talking of 10-12% growth in a matter of fact manner. Thereafter growth of 8-9% became the norm which qualified as normal. However, this year we see that 6-6.8% predicted for 2023-24 is described as robust growth. While just earlier during the Covid times we were fighting to maintain a growth rate of 7% and taking umbrage when the IMF, World Bank and other multilateral agencies were projecting an India growth below 7%. But we are now taking the 6-6.8% growth as 'robust'! It is good that our government is recognising the worldwide recessionary trends and settling for a reasonable growth rate. It was also said that the Budget presented for 2023-24 has nothing for the poor and the SME sector. There was a headline in the papers saying that our FM will have a session with the BJP MPs to educate them on how the Budget benefits the poor and the SME sector. Another 'jumla' on the way!
