It was mounted on the scale of another tryst with destiny, the 1991 shift of our ‘mixed economy’ in favour of the free market. The idea of market freedom as a better—or less fallible—way ahead for India seemed unstoppable. The reforms of 1991 were ‘big bang’ alright. While our market reforms worked, they did not do well enough, alas, to perpetuate themselves. All said, we mustn’t let the spirit of competition get stifled again, lest our second tryst ends in a whimper.

Source: Mint July 22, 2021 17:15 UTC