ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Calcutta Diary

AM BY now it is blase to quote Eliot, so let us stay away from the after-such-knowledge- what-forgiveness stuff. One should be frightened out of one's wits nonetheless. Please took up on page 7 of the special supplement brought out by a national financial newspaper on the occasion of its completion of a quarter of a century of existence. An oracle has spoken there. The particular oracie is generally described as one of the principal advisers on economic matters to the government in New Delhi; so what he states can be taken as approximating to official view. And he makes two important statements. How docs it matter, he says, if the government prints more and more notes since "much of the deficit does not well the incomes of the poor", but adds to the earnings of those who "live in 7-star hotels". Monetary theorists can grapple with this one; the dividing line between profundity and banality

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