Chasing mirages

Oxford economist Vijay Joshi calls for 'more sweeping reforms of a deeper variety' for India to make a rapid ascent to prosperity. The billion-dollar question is how feasible this is even under ideal

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INDIA'S LONG ROAD The search for prosperity Author: Vijay Joshi Publisher: Allen Lane/Penguin Price: Rs 699 Pages: xii+422 "The highly protectionist, highly controlled 'Old India Model' that guided economic policy in the first three decades after Independence was…a failure…[It] was abandoned at first gingerly in the 1980s and then more robustly in the 1990s. The response was indisputably dramatic. India's national income has grown at more than 6 per cent a year (around 4 per cent a year per capita) during the past three decades, a major achievement ...

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Chasing mirages