India
TIME RIPE FOR ECONOMY’S TAKE-OFF
DOMESTIC INVESTMENT HAS TO PICK UP FIRST
2014-05-22 01:54
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The return of the National Democratic Alliance (NDA) and the Bharatiya Janata Party (BJP) in particular in an electrifying electoral result that took the world by surprise has demonstrably re-established India’s firm shift to right and conservative economic policy. Since Independence, India has seldom given such a decisive say to any conservative economic ideology as mostly it had been content with joint-sector ideology or left-of- centre ones with no pronounced predilection for pure rightist tack for economic development. Not that any such tilt towards right could be politically suicidal that it was skirted by successive governments. Like the obsessive concern with secularism that invariably led to pseudo-secularism so much so that even minorities had lost faith in it, the political parties that ruled the country either alone on their strength till 1977 or much later with the dawn of coalition era governance must perforce trade in left-of-centre or centre-left or left-right mix of policies to give the façade of concern for the poorest of the poor who constitute the largest chunk of the country’s population.