Why The Indian Economic Bubble Burst ?

What will the FSB achieve : employment, enterprise, infra, social good, plugging of govt waste, mammoth corruption … what ?

Truth Within, Shines Without

Adapted from a feature article by Ranjit Goswami, Dean 

Institute of Management Technology (IMT), Nagpur.

Published by East Asia Forum

Source : http://www.economywatch.com/

I always felt it was a case of deteriorating values, when moral erosion was far too offset in the public mind by the gyrating rhetoric of the popular song, Phir Bhi Dil Hai Hindustani. Through the much-touted reform years of the 90s, the ebullience after a sad decade of empty values could brook no caution. Not unlike the high effect ponzi schemes have on people before they burst.

Reforms are projected with the broad aim of improving the economic efficiency of the nation. They naturally gain the affirmation of the elites and ryots but, as it was, for different reasons. It turns out that India’s particular brand of economic reforms were quite like the con jobs that leave so much grief in their wake. Sure, they…

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