Advertisement
Tuesday, Nov 30, 2021
Outlook.com
Elections '98

Selling Reforms, Not Guilt

The Congress is no longer on the defensive about the reforms and says it sticks by what it started

Selling Reforms, Not Guilt
Selling Reforms, Not Guilt
outlookindia.com
-0001-11-30T00:00:00+05:53

 On most economic issues, the Congress manifesto is explicit: full steam ahead with reforms. Compare this with the 1996 one which hardly said anything on economic policy. One reason for this was that the man who was supposed to write the chapter on the economy, P. Chidambaram, had left to form the TNC while the manifesto was still being written. But the deeper reason was growing doubt in the Congress leadership that the economic reforms had alienated the common voter from the party. For the last two years of the Narasimha Rao government, ever since the Congress fared badly in four assembly polls, reforms had been more or less on hold; economic policy concentrated instead on curbing money supply to slash inflation and bring down prices, and so win the 1996 Lok Sabha elections.

The result: prices did not come down, throttled money supply caused a credit squeeze and slowdown in industrial growth, and the Congress did not even make it in the polls.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

How Parag Agrawal Obsessively Focused On Controlling Hate Speech As Twitter CTO

How Parag Agrawal Obsessively Focused On Controlling Hate Speech As Twitter CTO

After taking over as CTO of Twitter, Parag Agrawal’s main focus was on using AI and ML to identify hate speech and bots that were used to spread misinformation through the microblogging site.

'Omicron Virus' Or 'South Africa Variant'? Here's What Not To Call New Covid-19 Strain

'Omicron Virus' Or 'South Africa Variant'? Here's What Not To Call New Covid-19 Strain

The Omicron variant of Covid-19 has led to several discussions on WHO's method of naming virus variants on Greek alphabets. But terms like 'South Africa virus' have remained in use.

IPL Retention, Live Updates: Rashid, Hardik Not Retained

IPL Retention, Live Updates: Rashid, Hardik Not Retained

Will the IPL team owners value loyalty, performance, or a combination of both while retaining players? As the drama unfolds, follow live updates here.

Opposition Unity: Act Fast Or Perish, TMC Makes Its Message Ring Louder

Opposition Unity: Act Fast Or Perish, TMC Makes Its Message Ring Louder

TMC Supremo Mamata Banerjee is set to meet the leadership of the Shiv Sena and NCP in the backdrop of her deliberate decision not to meet Sonia Gandhi.

Advertisement