Commanding Heights: The Battle for the World Economy Watching Russia go down Bankruptcy ahead Turning against the party Ending the Permit Raj Watch all of Commanding Heights at PBS.org www.pbs.org/wgbh/commandinghei...
All of the above said transformation and new make over of indian economy is done under the leadership of PV Narsimha Rao, architect of Modern India. However there was no mention of him in the video. He is one of greatest unsung heroes of India.
governments should be the policemen of the free market... nothing more, nothing less... just act when needed and don't finger the economy too much either... keep tabs and hold bigshots accountable... so that we don't get another harshad mehta... India is well on this path and just wait and see how we improve over the next 10 years... I hope Congress doesn't mess it up... they have the right formula as of now
It was the great Mr. P.V. Narasimha Rao, who disregarded Fonia Gandhi and her stooges and appointed a committee with MMS at the helm to redraft Indian fiscal policy. MMS, an economist did the job as wanted by his boss. This nation could not be more thankful to legendary P.V who revived an ill-advised Nehruvian economy from the shambles of bankruptcy. Mr. Rao stood up to the pressure exerted by Congress party in liberalizing, privatizing and globalizing Indian economy. Of course, MMS, Vajpayee firmly bolstered the market economy. Prime Minister Modi now takes it to dizzy heights. Indian economy doubled several times after the economic reforms have been put in place by Late Mr. Rao. The fact that Fonia and her stooges humiliated him, even after his death was an ample testimony to Congress' legacy. With the demise of Late Mr. P.V. Narasimha Rao, BJP is the only hope in modern India. If Congress is voted back, India will go back into the medieval age.
Right after independence, I believe that India needed socialism at first because the poorest needed to feel that they weren't being left behind. Now the country's political roots are secure and it is time for India to shine in the competitive global economy. But the poor of the country must never be left behind.
It is a nice compilation (as expected) fro PBS, but I have a complain though. No one needs to be rocket scientist to know that turning country's economics upside down is not an economics decision, but political. Being an Indian I know how chaotic was/is the situation. I will give greater credit to P V Narasimharao, than Manmohan Singh. It is sad to see that PBS didn't even mention his name once, perhaps interviewees put those conditions. Sad and painful really!
pm2324 I used the US, Canada and Hong Kong, to show what has happened in countries that have had a relatively free-market for a while so as to illustrate how those countries turned out. China particularly, now has more economic freedom than either the US or Canada. That is why their growth rate is much higher. The only way for a society to prosper is for the government to get out of the way with less taxes, less spending, less regulations and bad laws.
Who was the Prime minister of India in 1991 ?? Why they haven't showed anything about him ?? I guess after Britishers left India aren't these congress people ruled majority of this time ?? whom these fellows blaming ??
The simple fact of the matter is that India is slowly becoming more free market oriented, and this is raising the standard of living of the average indian, and this is nothing but a positive development. And it is not possible for the average standard of living to rise without it helping the poor. In all advanced countries the poor are better off. It is because of people like you that countries like India have been poor so long.
This idea that we should not go too far in the direction of the free-market so as not to hurt the poor is fallacious. In the countries that have gone the farthest in the direction of the free-market, the US, Canada, Hong Kong, etc., the poor in these countries are much better off than the middle class in 3rd world countries that have not given their people economic freedom. Economic freedom that is good in small doses, is much better in larger doses.
pm2324 India per capita GNP is only about $4000. The poverty line in the US is around $15000 so you are wrong again. They may be hard working and skilled, and they are going in the right direction, it's just that wealth and capital build up does not happen overnight. The middle class in India is not financially secure, not in any sense we are used to, you don't what your talking about.
pm2324 About China, it's laughable how uninformed you are. China is one of the least regulated markets in the world. And that is a good thing. Independent monetary policy? The Chinese have raging inflation, much higher than in the west, this is a big weakness, not a strength. And they made a mistake in taking on so many US dollars which they will end up getting only a fraction of the value back.
