'The Fact of the matter is' is seemingly an interesting used phrase these days in Indian Politics. I find Pranab Mukherjee using quite often to bury some hard facts as the 'Fact of the matter is' and today I found Mani Shankar Aiyar using the same phrase in NDTV interview conducted regarding Indo-Pak diplomatic relations and Fuel Price Hike in order to bury some hard facts again.
The fact of the matter is - it's not really a fact of the matter. It's a phrase which is being used in all sorts of negative assessment which one can neither assume off nor can observe any tangible value.
The fact of the matter is - we keep listening to these explanations quoting a pharase within the language in a malicious way. Red Card to both Pranab Mukherjee and Mani Shankar Aiyar.
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There's another man who was found in an interview by NDTV (Walk the Talk) using the same phrase (possibly in the right sense) - Hernando De Soto, the Peruvian economist who was regarded as " The world's greatest living economist" by Bill Clinton and warmly acknowledged as the "poor man's capitalist" for his insistence that market economies must work to include their poorest citizens socially, legally and economically. He and his 'Institute for Liberty and Democracy' were responsible for some four hundred initiates, laws and regulations that changed Peru's economic system. ILD has worked with 23 countries including India (presently working).India could present his greatest challenge yet, for here dead capital is king: In its urban slums (like the bustling economy of Dharavi, almost entirely off the books), and its piles and piles of hoarded, unaccounted for gold and precious stones, the bribes and massive under-the-table payments that are part and parcel of doing business here.
Some estimate that 40 per cent of India's economic activity takes place unofficially without documentation.
For de Soto, it's time to raise this dead capital back to life, to truly unleash the Indian market's promise and potential.
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