Government must let the debt market grow

The Planning Commission is not infallible. Despite the awesome collective intellect it possesses, it can sometimes go embarrassingly wrong, as the recent contretemps over the poverty level has shown. By claiming that less than a thousand rupees a month is sufficient to meet the food, shelter, clothing, education and health needs of an individual in a city, and that anybody earning that much does not need any form of state assistance and subsidy, since that individual, by definition, would be ‘ not poor’, it has exposed itself to anger and ridicule. Furthermore, it has provided handy fodder to political parties gearing up for elections.

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