Indeed, electrici
ty is another example of how Santa Claus economics is completely derailing reforms and threatening to scuttle growth prospects. The crucial amendments included in the Electricity Act, 2003, to reform the state electricity boards are lying in a limbo because many state governments are refusing to honour their commitments to reform their power sectors. Chief Minister Amarinder Singh is a classic example of continuing populism, even while staring at fiscal disaster. He has consistently refused to stop supplying free electricity to ‘farmers’ despite the state government hovering on the edge of bankruptcy. All this attention to doling out largesse comes at a time when the Planning Commission is talking about dramatic reform steps required to sustain a GDP growth rate of 8% to 10% that is required to eliminate poverty in the long run.
For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
ty is another example of how Santa Claus economics is completely derailing reforms and threatening to scuttle growth prospects. The crucial amendments included in the Electricity Act, 2003, to reform the state electricity boards are lying in a limbo because many state governments are refusing to honour their commitments to reform their power sectors. Chief Minister Amarinder Singh is a classic example of continuing populism, even while staring at fiscal disaster. He has consistently refused to stop supplying free electricity to ‘farmers’ despite the state government hovering on the edge of bankruptcy. All this attention to doling out largesse comes at a time when the Planning Commission is talking about dramatic reform steps required to sustain a GDP growth rate of 8% to 10% that is required to eliminate poverty in the long run.For Complete IIPM - Article, Click on IIPM-Editorial Link
Source:- IIPM-Business and Economy, Editor:- Prof. Arindam Chaudhuri - 2006
No comments:
Post a Comment