Article Type

Article

Description

A question often asked is that when current economic ills have been diagnosed and we know what needs to be done, why doesn’t it happen? The reason is the inherent disjuncture between the political risks a ruling party is willing to take and the economic rewards accruing through prudent economic management that will take care of these economic ills.

This asymmetry between the incurrence of the costs and the appropriation of benefits lies at the heart of the non-reformist stance of democratically elected governments. India – the largest democracy in the world – has recently been faced with a similar dilemma. The Coalition UPA Government was – and is still – under serious threat of rupture because of the courageous economic reforms recently initiated by Prime Minister Manmohan Singh.

Publication Source

The News

Publication Date

10-22-2012

Pages

1-3

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