Mr. Market victim of his own expectations
A full reading of the Economic Survey for financial year 2019-20 makes is unambiguously clear that the policy advisory organ of the incumbent government is overwhelmingly dominated by the 'market economists'. These economists want the government to follow the global best practices to make India a vibrant market economy. Hitherto the domain of Indian policy making had been predominantly occupied the left leaning development economists, who focused more on the government's role in poverty alleviation and inclusion. The policy documents therefore mostly spoke about the government achievements and future targets. But now, not only the jargon like Wealth creation, private enterprise, free market, decontrol, pro business, stock market, privatization, creative destruction, etc has recently entered the policy corridors of the Indian government; the formats of the policy documents have also changed their appearances dramatically. The colorful graphics, literary qu...