More ad hominem! So typical of the uninformed!
It was economically uninformed people like you who had said back in the 90s that deregulation & privatization will kill India as foreign companies & products outcompete Indian ones & private businesses will raise prices so much that poverty will increase, etc etc but the opposite has occurred, foreign competition raised local standards & improved resource-allocation within the economy & increased availability of real wealth aka goods & services, & people's living standards.
It was people like you believed that "evil speculators" & not supply & demand that causes commodity-prices to rise & because of such people, India didn't have a functioning commodity market for hedging & price-discovery; now that it's been allowed to work, it's one of the largest markets in the world.
Index & stock futures were restricted back then, now India's stock-futures market is one the largest.
And now the same old "protective" rhetoric being thrown around against floating INR, without an iota of understanding of basic economics!
Don't try to think for yourself, keep believing the government because as we know, governments are always full of honest & trustworthy people :thumb:
It was economically uninformed people like you who had said back in the 90s that deregulation & privatization will kill India as foreign companies & products outcompete Indian ones & private businesses will raise prices so much that poverty will increase, etc etc but the opposite has occurred, foreign competition raised local standards & improved resource-allocation within the economy & increased availability of real wealth aka goods & services, & people's living standards.
It was people like you believed that "evil speculators" & not supply & demand that causes commodity-prices to rise & because of such people, India didn't have a functioning commodity market for hedging & price-discovery; now that it's been allowed to work, it's one of the largest markets in the world.
Index & stock futures were restricted back then, now India's stock-futures market is one the largest.
And now the same old "protective" rhetoric being thrown around against floating INR, without an iota of understanding of basic economics!
Don't try to think for yourself, keep believing the government because as we know, governments are always full of honest & trustworthy people :thumb:
At the time of 90...when Indira and Rajive were trying to put India on self sustaining economy rather than foreign dependent....
foreign companies and govt...started funding strikes , riot, protest...violence and what not..
now those same company do the business in India freely...
India could progressed far far more without deregulation & privatization.
foreign competition has not raised local standards and people's living standards. it is companies formed by govt in 90's which sustaining india.. each and every company setup by indira and rajive are worth thousand and lacs of crores...which govt is selling now..
India progressed because base was created during pre 90's...not because foriegn companies...