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Browse Articles by "Economics"
Title: Economics, Politics, and Governance
Authors: Bimal Jalan - -
Issue/Year: Apr-2004
Section: Perspectives
Abstract: Though India has had good economists, an operational governance structure, and a vibrant and functioning democracy; post independence economic development has not been very satisfactory. This paper discusses why this combination of economics, politics, and civil service did not lead to the expected results. The author feels that this may have been due to the fact that, in our country the political decision-making on economic issues is often driven by special interests rather than the common interest of the general public. The problem, therefore, with the Indian economy is not that its market is less or more free but that its freedom is in the wrong domains. Improving our economic decision-making processes, removing the scope for political discretion, reducing unproductive expenditure, and improving the quality of governance at all levels could rectify this. The author calls for legal reforms focusing on the interest of general public for the administration to work with accountability. According to him, simplifying policies and procedures should be an absolute priority.
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