Saturday, February 13, 2016

Fwd: The right way for India


---------- Forwarded message ----------
From: S G Naravane
Cc: 


Published:Feb 14, 2016, 0:03
 
 
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Out of my mind: The right way for India
India has failed to industrialise the way its South East and East Asian neighbours have done.
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India has failed to industrialise the way its South East and East Asian neighbours have done. 

Few people noticed that the Centre for Civil Society (CCS) was the only Indian think tank to make it in the top 100, coming 79th. In a country where to be of the befuddled Left or populist Right is de rigueur, the idea that a genuinely libertarian think tank can not only flourish but be known around the world is novel. The CCS has been championing free market economics, and the ideas of libertarians such as Friedrich Hayek.
India has no libertarian political party. Indeed all political parties from the CPM to the BJP and beyond subscribe to a sort of khichadi of economic ideas — lot of Statism, surreptitious support for private business (avoid wearing suit-boot), discomfort when attracting FDI, love for protectionism and subsidies for anyone who can take out a procession to stop traffic. There is no love of private business, no awareness where the governments get their money from nor any understanding of the market. Right and Left in India are defined along secular/Hindutva lines. In economics, the policies enunciated by the Congress in 1947 and updated in 1991 are still the only one going.
Narendra Modi is more decisive and more likely to implement policies but they are no different from UPA-II or NDA-I.

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