In Search of a Dream; India  

Oleh:

[s.n]

Jenis: Article from Bulletin/Magazine
Dalam koleksi: The Economist (http://search.proquest.com/) vol. 404 no. 8804 (Sep. 2012), page 13.
Topik: Politics; Economic Reform; Foreign Investment; Regulation; Problems

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Perpustakaan Pusat (Semanggi) Nomor Panggil: EE29.73 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada

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When India won independence 65 years ago, its leaders had a vision for the country's future. In part, their dream was admirable and rare for Asia: liberal democracy. But the economic part of the vision was a failure. That led to a balance-of-payments crisis 21 years ago which forced India to change. Guided by Manmohan Singh, then finance minister, the government liberalised the economy, scrapping licensing and opening up to traders and investors. The results, in time, were spectacular. A flourishing services industry spawned world-class companies. The economy boomed. Wealth and social gains followed, literacy soared, life-expectancy and incomes rose, and gradually Indians started decamping from villages to towns. But reforms have not gone far enough. Indian policy still discourages foreign investment and discriminates in favor of small, inefficient firms and against large, efficient ones. The state controls too much of the economy and subsidies distort prices.

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