Topic of Discussion: India`s Growth - Story - Political Economy & Liberalization Part I (Mr. Arun Jaitley, Member of Parliament, Former Law Minister & BJP Spokesperson).
Speaker:
Mr. Arun Jaitley. (Member of Parliament, Former Law Minister & BJP Spokeperson).
Abstract:
India is growing very well in the context of political economy and democracy. These developments have brought out many success stories like the one in the telecom sector. This was a result of introduction of private players in the telecom sector, which resulted in reduced prices, wide coverage, better service & employment. In the same way, due to liberalization of political democracy, other sectors like education sector, housing & real estate have also seen a prosperous growth. All these developments brought out some very good results, the most important one being the generation of employment. All the sectors of India have a capability of becoming world masters if provided with adequate support from the government. There are still some sectors which are totally working under strict monopolies, like the defense sector in which no private players are allowed to contribute in the production of arms and equipments, however, foreign players even private ones are allowed to that. These loopholes of our economy have to be checked and should be given a proper and better solution.
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