ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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Indian Development Strategy-An Exchange of Views

Indian Development Strategy An Exchange of Views Arun Ghosh There is much cause for apprehension about the sequencing of many of the policy decisions taken in the last two-and-a-half months, To open up the Indian economy to external competition before removing the shackles on Indian industry is tragically misguided. It is difficult to see how, from a current account deficit of some $ 4 billion per annum, we can, in a matter of three years, move to a surplus of $ 3 billion per annum. By going in for a large 'structural adjustment' loan we are once again taking the 'soft' option of reliance on external finance.

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