Wednesday, Sep 28, 2022
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What If Reforms Had Taken Off 13 Years Earlier?

It wouldn't have made us a developed country by now. But from refusing-to-develop country (RDC) we would have moved to the willing-to-develop country (WDC) category.

What If Reforms Had Taken Off 13 Years Earlier?
Madhu Kapparath
What If Reforms Had Taken Off 13 Years Earlier?
outlookindia.com
-0001-11-30T00:00:00+05:53

One must be careful. In asking this question, there is a presumption that reforms began in 1991 and everything before that was a deluge of state intervention. That’s not really true. Reforms did begin in the second half of the 1970s and gathered momentum in the second half of the ‘80s. There is continuity to the reform exercise, although what has happened since 1991 is undoubtedly more comprehensive.

There is a second problem. Reforms are a bit like sex. People talk about it and think about it all the time. But not too many people do very much about it. In the post-1991 world, barring the external sector, the financial sector and removal of entry restrictions in manufacturing, how many reforms have actually been implemented as opposed to being talked about? How many reforms that benefit the poor, including public sector delivery in physical and social infrastructure, have happened?

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