Just 10 years back no one in India can think in dreams also that most powerful country in the world USA will come to third world country India for creating jobs in USA. I can't believe it. India has reached this leave in short time All because of Dr Singh as Finance Minister and now PM. Just 10 years back no one even talks about China and India. Only USA, UK and Europe were King. But time cycle changed so fast that today everyone even in developed countries all are taking about India and China success.
The writings of Prof Jagdish Bhagwati provided the first cogent arguments to step beyond license permit raj and transit to market economy. The hard work he had to do against the overwhelmingly Left of Center economists schooled in British Left and Fabian traditions is perhaps impossible to be even perceived today. It was a long wait, more than 20 years in making, and the reluctant reformer MMS was also known to be sympathetic or may be apologetic to the establishment crowd to which he also belong.
Mr. Bhagwati with his base in US had a different set of insights which proved to be winner for India when those were finally adopted.
Earlier, Licence Permit Raj used to be seen as the endemic source of corruption. Now as Prof writes :This means that other forms of corrupt ways of raising political funds have proliferated. We need therefore legal ways to raise campaign finance.Americans have done this; we need to do so as well.
India listened belatedly to his words of wisdom, only after few hundred ton of RBI Gold was pawned. Which crisis can be big enough to trigger the politicians out of their collection greed remains to be seen.
Re: pinpointing the structural defect
by Anurag Kumar on Dec 08, 2010 03:22 AM
Great! Now that we have patted ourselves on our backs for this phenomenal achievement, may be you or the great Dr. Bhagwati can predict when we will stop being a third world socialist toilet and be able to provide India's citizens a life fit for humans not the cattle they are treated like!!
All PSUs must be privatized as early as possible. This is an integral part of reforms. The shamelessly wastes crores of rupees of tax pyer money to run PSUs just to give a cosy secure employment to babus employed in these PSUs. It is absolutely ridiculous that the Government of India runs steel plants, hotels, shipping companies, aluminium plants, airlines etc. All these companies must be privatized immediately for Why should the poor Indian tax payer pay from his pocket to give a secured Government job to a babu employed in a PSU.
Re: Privatize all public sector units
by kapali on Dec 07, 2010 11:19 AM
Before privatizing the public sector units, there needs to be crucial government and private sector reforms. Hasty privatization can only create a Russia out of India.
Re: Re: Privatize all public sector units
by Anurag Kumar on Dec 08, 2010 03:27 AM
Well said, Kapali!
This notion that 'Private- sector-has-all-the-answers-to-India's-problems' is a myth propagated by cunning b a n i y a people, who want to convert all their ill-gotten wealth into legitimate fixed assets!
The real solution is co-operative ownership with complete transparency!!
Re: Privatize all public sector units
by avinash raikar on Dec 29, 2010 09:58 PM
Can you give me a figure of amount of tax payers money paid by government to keep PSU a float. Infact amount of revenue given by these PSE to govt. is enormous. What you have to say when Private banks were bailed out in US and Europe by tax payers money. In fact, efficiency of enterprise is determined by management and ownership has no role to play as long as there is functional autonomy. The problem of mounting losses of PSU like BSNL is a result of corrupt government headed by the so called "Honest PM"
Reform is a cunning term for "The Transfer of National Wealth To Private hands",by the Globalist,of which MM Singh is one as he is a member, Club Of Rome.In addition he is suspected to be planted by the Rothschikds,the Siper-Globalists..
Re: Transfer of National Wealth To Private hands.
by kapali on Dec 07, 2010 11:16 AM
Are the private hands part of the nation or not? If they are not a part of the nation, then why should the "Nation" collect taxes from them and build its wealth?
The key is to have an open, transparent, and egalitarian nation where every entity can have equal opportunity.
w h t the h e l l there was no other option to save i n d i a from becoming an another s o m a l i a..these people did it too late and the i r r i t a t i n g thing they are proud of doing it.
w h t the h e l l there was no other option to save india from becoming an another somalia..these people did it too late and the i r r i t a t i n g thing they are proud of doing it.
w h t the h e l l there was no other option to save india from becoming an another somalia..these people did it too late and the i r r i t a t i n g thing they are proud of doing it.
