ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

Mani Shankar AiyarSubscribe to Mani Shankar Aiyar

Economic Policy in a Democratic Polity

Does not the poor performance of Indian manufacturing under reforms have something to do with the disjunction between economic policy and the democratic polity that has become increasingly apparent over the last decade? Our reform paradigm cannot take the polity of the 'Asian tigers' as its exemplar. It has to be based on the imperatives of our democratic polity. This essay pleads for panchayati raj to be made the centrepiece of the reforms process instead of the sideshow to which it has been relegated. Not until they are carried to the people through institutions of self-government at the district and sub-district levels will reforms acquire the popular momentum they need to be sustained in a democratic polity.

Stock Market Scam and UTI Imbroglio

The issues dealt with in the report of the Joint Parliamentary Committee pertain to the `persistent and pervasive' failure of the key regulators to perform their duties and the failures of governance pertaining to the failure of the ministry of finance to perform its duties. They also include the failings of the department of company affairs, which is both a department of government and a regulator, as well as of the investigative agencies (CBI, Enforcement Directorate, etc) which fall directly under the prime minister.

Panchayati Raj: The Way Forward

Those responsible for implementing economic reforms have unfortunately regarded panchayati raj as a sideshow. But not until economic reforms are integrated with planning and implementation through institutions of self-government will grass roots empowerment lead to grass roots development. This then is the right moment to ensure that both move together in tandem. Indeed panchayati raj needs to be made the fulcrum of the reform process.
Back to Top