The recent election results show that the electorate of India has not shared fully the widely publicised optimism about our present and future economy. Not that there is no recognition of the continuing growth of the economy. A person who surveyed individuals in Uttar Pradesh (UP) reported that when asked about their economic condition, they often said: “Yes, the economy is doing well but we are not better off!” This discrepancy between growth and income opportunities for the underprivileged is at the heart of the people’s assessment of policy performance.
The three decades since the liberalisation reforms of 1991 have
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