Thursday, September 20, 2012

The accusation of the finest hour

Why "The CPM that had to eat crow." and the "...shady figures in his own party who cut unsavoury deals ostensibly to fill the coffers of the Congress. This could then be the advent of Manmohan Singh's finest hour in office."

Indian economist C Rangarajan says "..certain amount of economic literacy that is also required. Even those who oppose certain decisions, if they come to power will also realise that these decisions are unavoidable." 

"Every single piece of economic reform introduced in India has been stoutly opposed by the Left, from the introduction of computers by Rajiv Gandhi to the removal of quantitative restriction on imports and India joining the WTO, and everything else in-between: delicensing, loosening of forex controls, lowering of import duties and income-tax rates, opening up to foreign direct and portfolio investment....These critics have been proved wrong every single time. The Indian economy has thrived. Instead of being colonised further, India has shaken off aid dependence and is a major exporter of direct investment abroad." More here.

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