What is the economic legacy of Manmohan Singh in India? Both the Left and the Right would like to remember him as the man who brought economic reforms and privatisation to what was a State-dominated Licence-Quota Raj economy. Singh, himself would have liked to differ. "What is the future of capitalism especially in India?" Singh was asked in a 2009 Financial Times interview. His answer would have disappointed market fundamentalists. "Capitalism with a human face. We are a mixed economy. We will remain a mixed economy. The public and private sector will continue to play a very important role," he answered.
To be sure, Singh's ideas of a mixed economy were radically different from what his party, the Congress, tried to achieve when India gained Independence. The Report of the South Commission, published in 1990 (Singh was the secretary-general of the commission) provides some insights into Singh's thoughts on the misplaced romanticism on State-led development strategies in the Third World.
"In many countries, the State has underachieved precisely because it has tried to do too much, too soon... In such conditions, the withdrawal of the State from some activities may well enhance its effectiveness as an instrument of development," the report said.
Denne historien er fra December 27, 2024-utgaven av Hindustan Times Haryana.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 27, 2024-utgaven av Hindustan Times Haryana.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
Nagal Continues To Stay Away From Davis Cup
India's singles No. 1 Sumit Nagal continues to remain absent from national duty as his name was missing from the team's upcoming Davis Cup World Group I play-off tie against Togo, to be held in New Delhi in February.
Tough beginning for world No. 1 Carlsen; Raunak stuns Firouzja
World No. 1 Magnus Carlsen had a torrid start to the World Rapid and Blitz Championship, losing in one round and escaping with draws in two others to end Day 1 of the rapid event at 2.5/5 in New York.
Back in hockey, Ward hopes to shine in HIL
Sam Ward can easily be spotted on a hockey turf, wading past defenders as a skater would glide on ice, but what really sets the 33-year-old apart is his mask.
Jayasuriya aims to make SL cricket happening again
It's been only two months since Sanath Jayasuriya took over as full-time head coach of Sri Lanka's men's cricket team.
With a bit of luck and lots of faith, you can get back to scoring big runs: Smith
You are one of the best batters on the planet and then, the centuries dry up. That's how fickle form can sometimes be.
Renuka and Deepti star as India women sweep ODI series vs WI
Renuka Thakur and Deepti Sharma delivered a bowling masterclass to trounce West Indies by five wickets and seal a dominant victory in the third and final ODI of the series at the Kotambi Stadium, Vadodara on Friday.
Rohit's insipid captaincy lets Australia take control
It was a slow trudge out, with head bowed, for India's captain Rohit Sharma. The imagery just fit. He had just been dismissed for 3, trying to play a tentative pull shot that was a cross between something you play in gully cricket and how a tailender usually responds to a short ball.
Rupee Falls to Record Low as Dollar Bids Spike
The rupee fell to an all-time low on Friday, as maturing non-deliverable forwards and currency futures boosted dollar demand, while the sharp fall led to panic dollar buying by importers.
Azerbaijan Airlines 'Thought The Plane Would Fall Apart' Plane crashed due to 'external interference'
The Azerbaijan Airlines plane that crashed in Kazakhstan this week suffered physical \"external interference\", the airline and Azerbaijan's transport minister said, on Friday, citing preliminary results of an investigation, adding to speculation it was hit by a Russian air defence system.
Israel Burns the Last Functioning Hospital in Gaza
Israeli troops stormed one of the last hospitals operating in northern Gaza, on Friday, igniting fires and forcing many staff and patients outside to strip in winter weather, the territory's health ministry said.
