75th Independence day – Jingoistic nationalism vs self-reliance
On the eve of 75 th Independence Day when you buy a plastic Tricolour from a young child on the traffic signal, would you (a) pause to think that this flag may be of Chinese origin, (b) buy with the idea of helping the poor child; or (c) just buy to demonstrate your feeling of patriotism? In the post-independence period, the Indian economy has been persistently suffering from a variety of deficits. Though in the financial market parlance the twin economic deficits, viz., current account deficit and fiscal deficit, have been discussed most, these could be the least of worries for Indian economy in the current circumstances. Some of the most worrisome deficits, in my view, include: · Growth capital deficit · Advanced technology deficit · Skill deficit · Trust deficit · ...