IndianHawk
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Agreed. Entire Indian polity was pretty biased toward socialism at that time. The second biggest political power after congress was leftist parties.Its a wrong perception of history... socialism was fashion in those time... RSS and other right wing were not supporter of open market in those times ,they opposed everything from culture to product.. They would nt have done anything better . Even bhagat singh,subash chandra bosh all belonged to socialist catagory..That was the age when foreign companys were feared.. It was Manmohan singh in 1991 who brought economic liberalization despite critics from right and left..which gradually resulted in faster growth.. And GST as a concept was introduced by Atal Bihari Bajpayee and GST bill was 1st conceptialised by UPA 2 ... Supporting Modi on defence matter is fine but lets stick to the facts.. demonitization was a stroke for small and medium industries..corporate investment was down by 60%..Modi govt on economic front has more or less failed.. Our growth is at 5% now..That too after changing base year.. and God knows wht changes they might have brought in to statistical calculation.. manufacturing growth is at historic low.. Lets hope future ll b brighter..
Also after worldwar ended soviet model was very attractive and was growing fast while western Europe was shattered. The limits of socialism only became apparent by 1970-80 when PSU have failed to generate wealth and five years plans only generated more bureaucracy.
That's where we failed again rather than opening we doubled down with bank nationalisation and more inspector Raj.
Chinese opened up in 1978 and we did only at 1991. And we are still trailing china on same curve. In 2019 we are a 3 trillion dollars economy china was already 3 trillion in 2006-7 . Exactly 13 years difference.