22 June, 2021

Future Shock?

The post-poll economic scenario remains largely unpredictable

Future Shock?
IS the future of India's historic economic reforms programme as bleak as the chances of a single political party capturing power in the Lok Sabha polls? As a coalition government appears more inevitable by the day, the confusion index keeps rising. And politicians are doing little to allay fears. Read these lips:

"Starting from 1953, when the Jan Sangh was founded, we have reposed our faith in liberalisation," says Atal Behari Vajpayee.

Clear commitment, right? But what about the Swadeshi Jagran Manch and its radical economic agenda, which sees foreign investment even in hi-tech sectors, as unnecessary? "The process of economic reforms is a continuing one; it can never be a stop-and-go situation or a one-time exercise," says External Affairs Minister Pranab Mukherjee.

But then why does the Congress election manifesto not mention the word 'globali-sation' even once?

"We no longer believe that nationalism is a panacea. We are for liberalisation, but our concept is different from that of the Rao-Singh duo," says Janata Dal General Secretary Jaipal...

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