Partho-Arnab WhatsApp chat leaks : on the economy

[Ryzen_renoir]

Partho-Arnab WhatsApp chats deal with economy

A message attributed to Dasgupta said: 'NM/AS should first rejig finance ministry in the second term — the economy is screwed — no matter what we tell outside'
 

Arvind Subramanian did flag grave concerns on the economy. So did Kaushik Basu and several others.

The dire remarks fell on deaf ears in the Narendra Modi government. Understandably, because Subramanian, Basu and the others are economists — a source of mistrust for a regime sceptical of domain expertise.

Now, possible evidence has emerged that a non-economist whose credentials and intentions the Modi government trusts was privy to a blunt insight, shorn of tiresome jargon, on the economy as far back as April 2019.

The purported WhatsApp chats — attached to a supplementary chargesheet filed by Mumbai police — between Republic TV managing director Arnab Goswami and Partho Dasgupta, the then CEO of rating agency BARC, have a segment that deals with the economy, so to speak.

On April 10, 2019, at 12.07pm, a message attributed to Dasgupta and sent to Goswami said: “NM/AS should first rejig finance ministry in the second term — the economy is screwed — no matter what we tell outside.”

The message does not expand “NM” and “AS” but there aren’t too many duopolies with the telling abbreviations in the country that can “rejig” the finance ministry at the drop of a hat.

The concluding part of the purported message from Dasgupta — “no matter what we tell outside” — is certain to ring a bell among several corporate chieftains and industrialists, post-demonetisation.

Although the economy has been in the doldrums since then, almost every industrialist, barring a handful, has sung hosannas to the Modi government in public while some criticised it in private.

The message credited to Dasgupta also confirms another point: after the Pulwama terror attack and the Balakot strike, there was little doubt that Modi was on the verge of a second term.

On that summer day two years ago and a day before the first day of polling in the general election of 2019, there was no reply from Goswami over WhatsApp to Dasgupta for over half an hour.

In spite of the lack of response, another message attributed to Dasgupta added: “Jaitley is their biggest failure.”

This time, a purported reply from Goswami arrived fast. At 12.45pm itself, the reply said: “That I agree totally.”

Many would consider it an unfair assessment as it was well-known that Arun Jaitley, the then finance minister, had not been given a free hand on the economy.

It’s not clear whether the purported agreement on the part of Goswami was confined to the sweeping judgement on Jaitley or whether it covered the preceding message on the state of the economy, too.

Traditional wisdom (silence is concurrence) suggests that there was consensus on both counts. If Goswami had a different perception about the economy — and no evidence is needed on his skills to get across his views — he could be counted on to challenge the purported opinion of Dasgupta, rectify the crude categorisation of the economy and restore the reputation of the Modi regime.

Especially since the Modi government is not known for taking kindly to uncharitable descriptions of the economy on its watch.

If Goswami had the kind of access he boasts, and given his well-cultivated image as a fearless and ruthless inquisitor in selfless service of the nation, he could be expected to have done the right thing after not disagreeing with Dasgupta’s assessment of the economy.

Which is to convey to Modi how bad the economic situation was in the last leg of his first term as Prime Minister.

It is not known whether Goswami briefed “NM” or “AS” on the dire economic straits. A new finance minister was indeed found in the second term but that was because an ailing Jaitley had by then sought retirement from public office.

If Goswami did warn the government, it did not appear to have had the desired result. In the financial year that followed (2019-20), economic growth in India plunged to an 11-year low at 4.2 per cent. And Covid cannot be blamed entirely because the lockdown kicked in only in the last week of the financial year.

Some of the messages attributed to Goswami do stand out for their insensitivity, especially on Jaitley and just five days before the former finance minister breathed his last.

 

 

[dewarist]

Do not discuss the deeds of a Honest & Hardworking Journalist.

[Ryzen_renoir]

Even all of BJP's allies and insiders know the truth about the dismal management  of economy . 

China managed to grow 2.3% last year while india is expected to decrease by -10% 

[dewarist]

2 minutes ago, Ryzen_renoir said:

Even all of BJP's allies and insiders know the truth about the dismal management  of economy . 

China managed to grow 2.3% last year while india is expected to decrease by -10% 

people are not interested in these things. Look at the mandate in Bihar, you'll realize.

[Ryzen_renoir]

Systematically  destroying MSME sector to favour large family owned coorporations , destroying banks by refusing to go after willful defaulters , huge credit squeeze on non party affiliated companies ,treating opposition ruled states like enemy countries  are some of the great achievements of NDA 

[Ryzen_renoir]

2 minutes ago, dewarist said:

people are not interested in these things. Look at the mandate in Bihar, you'll realize.

True , when your audience is a circus , you will only elect a clown 

[Epic]

So these chats were retrieved from Arnabs Phone when he was arrested or WhatsApp disclosed the encrypted chats to police?

The purported WhatsApp chats — attached to a supplementary chargesheet filed by Mumbai police — between Republic TV managing director Arnab Goswami and Partho Dasgupta, the then CEO of rating agency BARC, have a segment that deals with the economy, so to speak.

On April 10, 2019, at 12.07pm, a message attributed to Dasgupta and sent to Goswami said: “NM/AS should first rejig finance ministry in the second term — the economy is screwed — no matter what we tell outside.”

[sunnam]

Still MODI/Amit Shah is trying to increase Tax on Refrigerator, AC, Small ELectrical Appliances, Electrical Vehicles in Next Budget.

They don't care corona pandemic or economy or middle class. They want to juice everything from india public and give it to Ambani or Adani. 😁

[dewarist]

Just now, Ryzen_renoir said:

True , when your audience is a circus , you will only elect a clown 

Keeping the audience entertained with other things is a great ploy that has worked over the years, be it any party. Sad to see no other comments being posted in this thread.

 

[dewarist]

1 minute ago, sunnam said:

Still MODI/Amit Shah is trying to increase Tax on Refrigerator, AC, Small ELectrical Appliances, Electrical Vehicles in Next Budget.

They don't care economy or middle class. 😁

Blame it on Nirmala Taayi, Modi & Shah have nothing to do with this.

[Ryzen_renoir]

Just now, dewarist said:

Keeping the audience entertained with other things is a great ploy that has worked over the years, be it any party. Sad to see no other comments being posted in this thread.

 

Even most of the so called educated people are not interested about real problems . 

Just post something about Pakistan , some random temple ,  it will have 100 replies in a hour 

[r2d2]

it is an open secret...

[sunnam]

Just now, dewarist said:

Blame it on Nirmala Taayi, Modi & Shah have nothing to do with this.

Naah. FInal say is MODI/Amit shah. MOSHAs themseelves asked to raise taxes so what she will do. Covid tax ani kotha cess kuda vestharanta. MOSHAs won't listen to anyone

[dewarist]

Just now, sunnam said:

Naah. FInal say is MODI/Amit shah. MOSHAs themseelves asked to raise taxes so what she will do. Covid tax ani kotha cess kuda vestharanta. MOSHAs won't listen to anyone

Actually it is a "Act of God". Don't ask me which type of God

[Ryzen_renoir]

3 minutes ago, sunnam said:

Still MODI/Amit Shah is trying to increase Tax on Refrigerator, AC, Small ELectrical Appliances, Electrical Vehicles in Next Budget.

They don't care economy or middle class. 😁

I don't understand their obsession with strict fiscal deficit even when all other economies are not .  Are all the so called major economists around the orld wrong ? and our ancient Hindu economists so great that they are beyond mortal comprehension