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Would you say the socialist policies of the government have had a negative effect or a positive effect on the country's economy? In your opinion as a resident,

Would you say the socialist policies of the government have had a negative effect or a positive effect on the country's economy? In your opinion as a resident, does this play at all into why things are the way they are economically?

thawaway1837 7y ago
You can hardly call the policies socialist, because there is no coherent thinking behind any of the policies. Rather, the current government’s actions seem to be driven solely by the government’s electoral needs of the day. New election coming up? Announce huge “socialist” policies promising free stuff to a lot of people. Massive foreign rally where the economy will be a rallying point coming up, but your markets are at a low and falling? Announce a huge “capitalist” 10% corporate tax rate cut that boosts the markets and doesn’t throw a dampener on your rally.
- sbmthakur 7y ago
  > Rather, the current government’s actions seem to be driven solely by the government’s electoral needs of the day. That's what any Government does in India. https://m.timesofindia.com/city/bhopal/farm-loan-waiver-takes-off-in-madhya-pradesh-40k-benefit-on-first-day/articleshow/68121687.cms https://m.timesofindia.com/city/bhopal/farm-loan-waiver-take...
sn41 7y ago
There are both good and bad aspects to the socialist approach taken by India. (+) The biggest gain: There have been no famines in Independent India - in the previous 80 years, around 20 million died in famines. This was a massive issue during the freedom movement. (+) State-subsidised education has succeeded in producing an elite which is world-class. However, state-subsidised _basic education_ is non-existent in many places, and literacy rates have been slow to grow nationally. (-) Excessive regulations have stymied industry, and led to massive corruption. The regulatory codes in India are needlessly complex and stringent. Many people opt to bribe out than comply, it is much cheaper that way. Overall, it has taken India more or less along a path of progress and is less of a mess than others think it is (see Hans Rosling's informative presentations for this). But, Indians feel frustrated because we feel the pace of progress should be much more.

thawaway1837 7y ago

You can hardly call the policies socialist, because there is no coherent thinking behind any of the policies. Rather, the current government’s actions seem to be driven solely by the government’s electoral needs of the day. New election coming up? Announce huge “socialist” policies promising free stuff to a lot of people. Massive foreign rally where the economy will be a rallying point coming up, but your markets are at a low and falling? Announce a huge “capitalist” 10% corporate tax rate cut that boosts the markets and doesn’t throw a dampener on your rally.

sbmthakur 7y ago
> Rather, the current government’s actions seem to be driven solely by the government’s electoral needs of the day. That's what any Government does in India. https://m.timesofindia.com/city/bhopal/farm-loan-waiver-takes-off-in-madhya-pradesh-40k-benefit-on-first-day/articleshow/68121687.cms https://m.timesofindia.com/city/bhopal/farm-loan-waiver-take...

sn41 7y ago

There are both good and bad aspects to the socialist approach taken by India. (+) The biggest gain: There have been no famines in Independent India - in the previous 80 years, around 20 million died in famines. This was a massive issue during the freedom movement. (+) State-subsidised education has succeeded in producing an elite which is world-class. However, state-subsidised _basic education_ is non-existent in many places, and literacy rates have been slow to grow nationally. (-) Excessive regulations have stymied industry, and led to massive corruption. The regulatory codes in India are needlessly complex and stringent. Many people opt to bribe out than comply, it is much cheaper that way. Overall, it has taken India more or less along a path of progress and is less of a mess than others think it is (see Hans Rosling's informative presentations for this). But, Indians feel frustrated because we feel the pace of progress should be much more.