Mr Reddy has cleverly hid the ill effects of socialism we underwent from late 60s to early 90s;When many countries including China,UK,Far East countries and even srilanka were opening up their markets and liberalising the Economy from early 80s,India was following pseudo Russian communism and was stagnating;we recall the long Q for Trunk calls/STD [only available in Telegraph office!,Bajaj scooters,telephone connections,colour TV,TVChannels,outdated Industrial & Economic policies throwing up rampant corruption,Licence Raj demanding all corporates to have PRO[bribe giver!]in Delhi etc; it is only when we were forced to a corner and had no hopes in 90/91,that PVN & Manmohan singh took a bold step and opened the Economy and this is the main reason for all our economic growth today.I still recall Rajivji rushing to moscow unscheduled after going to meet US President in US since our political Babus were worried that we will abandon USSR and shift to US Capitalism! Rajivji had to pacify the USSR govt at that time and the collapse of the USSR was one of the reason that drove the nation towards liberalisation of economy.Old timers will still recall JRD & Nani Palkhivala pleading for a liberal economy those days! The RBI chief has conveniently forgotten this truth.
RE:RBI chief speech
by Bharat Express on Oct 17, 2007 07:10 PM Permalink
more than socialism family raj has denied India it worthy place in world and cheated crores of Indians decent living
yes the rupee is getting stronger. But the cost of living going on increasing. The cost of daily necessities for common man increasing day by day. Quantity of Import materials increasing ! But with a far below grade quality. Export declining !!
Bank balance of our politicians in Swiss bank increasing. commission for agents /brokers for arms sale and projects on a roll.
MNC established in India selling products in indian market pumping money out of the country.
The topic is good to listen. But why Mr.Reddy put another 20 years. Earlier every body was saying in 2020 India will be the super power and in a chainging world and also entire world will look at India for their development and growth. I did not know that Mr. Reddy is also a politician and he is also predicting like Lallo Yadav. We only can expect politically told things not statistically told things in our life. It is India's and Indians fate.
with my all due respect to Mr Reddy.. i dont think his speach is impressive at all.... I think he should have talked more from RBI governer point of view than making generalized statements about indian growth.. people want to know how an institution such as RBI help its nation for a double digit growth and what is its role and how they have done it.. what he spoke I think most of the ppl already know...
RE:nothing great in the article..
by Tushar Lad on Oct 17, 2007 06:49 PM Permalink
Yes ur right but its like a desclosing the rbi future startergy...that may be confidential... a scret formula of indian growth..:)
