I don’t think so; many members share the same vision. For instance, Andhra Pradesh Chief Minister Chandrababu Naidu is unlikely to act like the Opposition. Modi’s initiatives, like building toilets for women, have broad support. He prioritises women’s issues and continually seeks to improve. The women in his Cabinet, including the finance minister and Smriti Irani, are impressive figures who have risen without dynastic connections. This is big, especially since women make up half of India’s population. The Prime Minister understands their needs, marking a historic shift for women’s empowerment. We’re fortunate to have him, as he maintains a form of quasi-Opposition within his coalition. I am suggesting that the coalition should be looked upon as something good. Proper Opposition can only emerge from within, given that the Congress party isn’t providing it.
I think it is a passing phase. The world is always moving in different directions, which we can’t control. However, many recognise that we would do better with a more open economy. Professor (Arvind) Panagariya and I knew the efficacy of our industrialisation was lacking, but that has been accepted. Despite political issues, the country as a whole understands this.
The notion that you can pick and choose areas where you can grow is a fallacy. By now, we have enough skilled manpower and people willing to invest. We don’t need specific targets. We just provide general incentives and then let things work out. It is time for us to shift to that way of thinking. We don’t need the government to tell us what to do. We’ve moved to another stage. Which country has these kinds of entrepreneurs? Not even the US. We’ve reached a higher plateau, which means we should not think in terms of the government telling us where to invest. It’s like rolling the dice.
It’s on autopilot. It’s a great country with a lot of research and young people. There are lots of opportunities now. We don’t have to go abroad for anything. Anyone who thinks we have a lot to learn from the US needs to have his head examined. We are in a new era.
These are statistical artefacts. They believe this rubbish. What is the point of doing it? That’s a speciality of the World Bank, International Monetary Fund-type thinking. We just need policies to promote growth and local entrepreneurship.
Rapid growth will enable us to absorb these resources and create jobs. One thing I was happy to see the finance minister talk about is the role of quality education. We haven’t had that, and even our IITs and IIMs are not highly ranked. That should be the next step. We should identify our people, send them to specific places, and get them back. Like Dr. Manmohan Singh — his father was poor, and he came on his Vice Chancellor’s programme. We all knew he would be something dramatic, but not a Prime Minister.
No. As my teacher, Joan Robinson used to say, “If you cut off your nose, I won’t cut off mine to match yours”. Your policy is independent of what others are doing. If they want to do foolish things, that’s their problem. Of course, it restricts trade, but they will learn it’s a foolish policy. Can we be for free trade when everybody else is not? But why join them? If you’re the only open one, you’ll gain from that. We have discussed whether you can have unilateral free trade. I have a Big Fat Book arguing for it, with reason. All propositions should be taken with moderation.
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