Economist Meghnad Desai says Chacha “Manmohan Singh began the new economic policy in 1991 and lifted India out of the old Mahalanobis nightmare.” And “There were doubters at that time whether liberal economic reforms would work or whether India would be signing itself for a new slavery or get trapped in a debt-default saga. None of these happened, and India began a regime of growth rates which never went below 5 per cent when, in the previous 45 years, they had rarely been above.”
It is not “there were doubters at that time whether liberal economic reforms would work” or not. The same sentiments prevails every economics department in Indian university even today. When will these folks give up their dogmatic marching towards “old Mahalanobis nightmare”.
No comments:
Post a Comment