Putrajaya, Malaysia: Does Indian Prime
Minister Manmohan Singh rely on theoretical reasoning or gut
feeling while taking decisions on the economy?
This query was posed to him after he delivered the
prestigious Khazana Global lecture on `India`s Development
"I have no definite answer, but I do know Lord Keynes
once said that most practical politicians are slaves to some
defunct economics," the economist-turned premier told over
500 corporate leaders and business leaders, who loudly
cheered, laughing at his reply.
However, the Prime Minister admitted that anyone in
politics must have some theoretical perception while
formulating his views.
"Whether that is good or bad will be judged by
history," he noted.
Singh added that they would also have some notion
about what was workable and feasible.
"But the real challenge for women and men in practical
politics is not to remain slaves to some defunct economics,"
he added to loud applause from the audience.