Eavesdropper: Poor in US, rich in India

Updated: Jul 29 2013, 10:29am hrs
The media is accused of creating a controversy out of nothing by asking tough questions to policymakers and then quoting them selectively. A similar attempt was made with RBI deputy governor KC Chakrabarty. Asked whether the new poverty line was fair when inflation was running high, Chakrabarty cleverly dodged the question saying it was a relative measure. Someone can be poor in the US but rich in India, he said knowing full well that few journalists would understand the concept of purchasing power parity and its relevance in poverty measurement.