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Nehru’s chequered legacy is used selectively by no less than his own party, the ruling Indian National Congress (INC). Putting an abrupt end to his socialist programs with economic liberalisation policies in 1991, the Congress party nonetheless chose to kick-start its political campaign for the recent Uttar Pradesh (UP) state elections, with Nehru as a poster child.
1991 goes down in history as the year that marked the ideological defeat of socialism in India at the hands of economic realism. There was little choice. India’s economy was in a shambles, with fiscal deficit at an unsustainable 8.5% of the economy and the current account deficit touching 3.5%. With total external debt at US$72 billion, India had become the world’s third largest debtor after Brazil and Mexico.
There is no one perfect way to raise model children I must admit I am terribly scared of leaving my one-year-old daughter alone with my wife. And I blame Yale Law School professor Amy Chua for my paranoia. My little one was born barely three months after Chua horrified the Western world with her parenting […]
For the young activist in Malaysia, idealism has acquired a sheen of pragmatism For much of the month of April, student groups in Malaysia marched in the streets of Kuala Lumpur, demanding the abolition of the National Higher Education Fund (PTPTN), a student loan scheme that the protesters criticised as an exploitative, anti-poor commercial scheme. […]
India allays fears over its latest ballistic missile launch A week after successfully testing its maiden Long Range Ballistic Missile (LRBM) Agni-V, India sought to downplay the regional security implications of the launch by dubbing the missile as a “weapon of peace”. “We were asked to develop a national deterrent as part of a government […]
China and India lead boycott of Europe’s carbon tax regime Asia is taking the global trade war to the skies. Following the outcry over the January 1 decision by the European Union (EU) to levy carbon taxes on all airlines serving EU airports, China and India are leading a boycott of what they call a […]
India’s food bill is nothing but a political move to woo poor in blatant re-election bid India’s corruption-tainted federal government may just have found a way to resurrect itself in the eyes of the country’s largely poor electorate. Ahead of the 2014 federal elections, the Congress Party-led United Progressive Alliance government is preparing to introduce […]