India's Economic Reforms: Dismantling the Machine for Going Backwards
This paper by Jagdish Bhagwati presents a critical appraisal of India's economic strategy over the last five decades. According to Bhagwati, while India's democratic success has been outstanding, her economics has been a big disappointment leaving the economy in a state of economic backwardness. By 80s⁄ India's economic failure became a classic case study to lean what not to do. Recent reforms, which signal the final discrediting of the failed ideas⁄ have started dismantling the past policies that crippled India's performance. However⁄ Bhagwati feels that the prospects for a complete transition still remain problematic partly on account of the politics of coalitions at the centre and partly because the dissent from the supporters of India's earlier policies may create confusion and delays.