Be realistic: Economic advisor tells Bengal

He said West Bengal slipped down in parameters like literacy,health and education over the last 30-odd year. At the time of Independence,West Bengal topped the parameters of literacy,health and education. But the state has slipped to low levels in the last 30 or so years.

Basu said driving away industry and capital would not help in generating growth and development.

Industry and capital were driven out by driving a hard bargain. The former Left Front government had realised at the last moment, but it was too late and the onus had come upon the new government, Basu said.

He said the new government had good intentions but there was a need for designing of good policies and professional intelligence.

On inflation,Basu said that while seen in the global context,inflation averaging between 10-12 per cent was not bad,ideally it should be lower. There are a couple of blunt instruments with the government like taking money out of the system that might have an immediate impact on bringing down inflation. But this can be devastating as well, Basu said.

He predicted a time frame of end-December as when the food inflation and price index may go down.

With PTI