Liberalisation 2.0

The liberalisation ushered in by the Congress government 20 years ago opened up enormous new opportunities. It removed the restrictions on markets and trade that had been imposed during the socialist era. Getting the government out of meddling in the economy was valuable, and a lot more needs to be done in that spirit. However, the looming challenge that India now needs to confront is not that of mere deregulation, but that of building the legal and institutional infrastructure for a market economy.

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