Inclusive growth in neoliberal India: a facade?
- 2010
- p.43-56.
- 20 Feb
The Congress-led United Progressive Alliance's commitment to inclusiveness is a facade that attracts the Aam Admi, but obscures the ugly reality - India is on track to become another oligarchy like post-Soviet Russia. The super-rich now have an important voice in the formulation of government policies. The government has failed to fulfil the common minimum programme agenda on inclusiveness. Its claim to have raised substantially the aggregate tax-gross domestic product ratio does not stand the test of scrutiny. The credit needs of small borrowers from agriculture and small-scale industry remain unfulfilled. The move to extend social audit to plug the loopholes in the rural employment guarantee programme has been scuttled, while measures for social security for the unorganised workforce financed by the budget promise to open up new markets for businesses in insurance and healthcare. - Reproduced.