26 November, 2020

The Doctor Is In, But Only Just

The NAC lies defanged; the markets leap for joy at Manmohan’s & Co’s charge of a ‘new’ economy

Jitender Gupta
The Doctor Is In, But Only Just

How swiftly things change. Just a month ago, the great Indian growth story was being written off. Now, the “new economy”, run by the PM-cum-FM, will sift through the rubble of under-seven per cent growth, find the hidden springs of recovery and throw in some reforms for good measure. A top taxman says Manmohan Singh has the “credibility for economic reform”, that he’s best placed to manage the often competing demands from states. Yet, within a week of being at the economy’s helm, his shadow over the UPA’s other project—inclusive growth—has been neither benign nor encouraging.

Three of the National Advisory Council’s senior members, agriculture expert M.S. Swaminathan, social activist Harsh Mander and environment expert Madhav Gadgil have been summarily shown the door. Sources in the NAC say things got progressively worse for them. “Over the last six-eight months, NAC members were expected to comply with an increasing number of bureaucratic hurdles,” one NAC source...



To read this piece, and more such stories in India's most exciting and exacting magazine, plus get access to our 25-year archives goldmine, please subscribe.

More from Lola Nayar

Latest Magazine

November 30, 2020

other articles from the issue

articles from the previous issue

Other magazine section