Our freedom fighters gave us a Mixed Economy, a middle path between Capitalism and Communism. Indira Gandhi brought in Socialism, sister of Communism. Dr Manmohan Singh turned it to Market Economy, brother of Capitalism. Economy cannot be a pendulum. Capitalism survives with effective govt control and competition. Communism survives with force. In India we don’t have the former and can’t have the latter.
Also read: John Milton (2)
The privatization spree that is going on now is not healthy for a country in which manufacturers do form groups to hold public to ransom of high prices without quality. Then the situation would not be different from that of one in earlier Liscence Raj. Having PSUs will be an effective check on harmful practices of business groups. If PSUs are in losses make necessary changes to set them right. Inability to control rats should not be the proper reason to burn the house.
Also read: “Corruption”
