Further reforms are needed in sectors which are still protected. For example, liquor production, distribution and selling. Another is electricity, transparency in accounting of state electricity board will show that many Power Purchase agreements are made with coal power plants that make state pay high cost when plant is not used. Cost must paid to keep base load power available, but what is being paid is very high.
Indian economists and policy analyst must focus on cultural reforms to achieve further progress. Enmity with neighbors , competitive nationalism etc. are drag on economic reforms. Assumption that economic progress will lead to cultural progress is wrong.
The cultural practices of discrimination do not allow access to education and healthcare for masses. In developed countries public education reaches masses, like USA or Japan, 85% of people attend public schools. Indians must stop seeing poor and remote communities as lesser beings and give them education, only that will lead to further progress.
The elephant in the room for India is religion. There is a competition for religion fanaticism and practices. These practices such as horoscope, astrology etc make people less confident about themselves and their capabilities. These practices lead to diversion of precious resources in unproductive activity. The govt, media, politicians etc are all making money by selling opium of the masses. Unless these retrograde practices are stopped, improvement in productivity will stop.
I am from non finance background. I find your writings interesting and insightful. Thanks!
Further reforms are needed in sectors which are still protected. For example, liquor production, distribution and selling. Another is electricity, transparency in accounting of state electricity board will show that many Power Purchase agreements are made with coal power plants that make state pay high cost when plant is not used. Cost must paid to keep base load power available, but what is being paid is very high.
Indian economists and policy analyst must focus on cultural reforms to achieve further progress. Enmity with neighbors , competitive nationalism etc. are drag on economic reforms. Assumption that economic progress will lead to cultural progress is wrong.
The cultural practices of discrimination do not allow access to education and healthcare for masses. In developed countries public education reaches masses, like USA or Japan, 85% of people attend public schools. Indians must stop seeing poor and remote communities as lesser beings and give them education, only that will lead to further progress.
The elephant in the room for India is religion. There is a competition for religion fanaticism and practices. These practices such as horoscope, astrology etc make people less confident about themselves and their capabilities. These practices lead to diversion of precious resources in unproductive activity. The govt, media, politicians etc are all making money by selling opium of the masses. Unless these retrograde practices are stopped, improvement in productivity will stop.
Superb analysis.
Brilliant. This series has shown a complete different side of our Economic Reforms.