P Chidambaram – Former Union Finance Minister:
The best decision taken by the government is the decision not to print the Economic Survey
Once upon a time, the Survey was the vehicle to communicate to the people in simple language the state of the economy and the prospects in the coming year
Now, the Survey has apparently a different purpose, although the purpose is not clear
Will someone please explain to me the meaning of the sentence “(Granger and Newbold) also illustrated that the regression residuals are likely to be autocorrelated, as evidenced by a very low value for the Durbin-Watson (DW) statistic”?
All this in aid of the self-congratulatory conclusion that government implemented “far sighted policy response for economic recovery” !
The most frequently used word in the Economic Survey is “regression” The current government has taught us the meaning of “recession” When you learn the meaning of “recession” and “regression”, you will qualify to be included in the team to write the next Economic Survey