It took full blown balance of payment crisis in 1991 for the government to realize that the then prevalent model of economic development was no good.
This time, rating agencies were giving final touches to their communique, reducing India's credit rating to junk, which prompted some policy action.
Economic prosperity comes when we grow at a rate substantially higher than inflation. In our case, however, we have to work even harder, we have a huge backlog to clear. We have to lift existing people out of abject poverty, we have to account for new people we are adding to our population.
Our collective psyche has been shaped by our distrust of foreigners who ruled us, used us and left us in economic ruin. Earlier, we were fighting between ourselves and allowed outsiders in to come and take advantage of us. This time, we are fighting among ourselves and shutting them out and letting opportunity pass by.
It would be so nice if political parties who dispose of a specific policy action can come up with an alternative as well. It is so easy to destroy or reject something, it is extremely difficult to come up with an alternative. Let all political parties share their economic plan of getting India on a 9% + GDP growth path. Let these plans be scrutinized by eminent economists. Let there be debate on the over all economic plans of these parties, vs street fights on a specific policy action.
Let us not wait for the shit to hit the fan every time, for us to take action!
This time, rating agencies were giving final touches to their communique, reducing India's credit rating to junk, which prompted some policy action.
Economic prosperity comes when we grow at a rate substantially higher than inflation. In our case, however, we have to work even harder, we have a huge backlog to clear. We have to lift existing people out of abject poverty, we have to account for new people we are adding to our population.
Our collective psyche has been shaped by our distrust of foreigners who ruled us, used us and left us in economic ruin. Earlier, we were fighting between ourselves and allowed outsiders in to come and take advantage of us. This time, we are fighting among ourselves and shutting them out and letting opportunity pass by.
It would be so nice if political parties who dispose of a specific policy action can come up with an alternative as well. It is so easy to destroy or reject something, it is extremely difficult to come up with an alternative. Let all political parties share their economic plan of getting India on a 9% + GDP growth path. Let these plans be scrutinized by eminent economists. Let there be debate on the over all economic plans of these parties, vs street fights on a specific policy action.
Let us not wait for the shit to hit the fan every time, for us to take action!
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