Towards a meaningful market economy

Currently the emphasis is on government schemes and projects. The focus needs to shift to enabling policies

Over time, India has attempted to move from creating a planned to a meaningful market-oriented economy. We are quite familiar with what the government should not do. What is less familiar is what the government should still do, or do more emphatically. That is the main concern here. 

Contract enforcement and respect for property rights are crucial in a market economy. However, this is possible only if we have considerable expansion of and improvement in institutions like the judiciary in India. At present, there are serious weaknesses on that front. Also, there is a need for consistent rule of law, not