ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846
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From 50 Years Ago: CAPITAL VIEW

Vol IV, Nos 1 and 2 JANUARY 1969

CAPITAL VIEW

Let’s Be Optimistic

Romesh Thapar

Indira Gandhi’s assertive press conference to mark the start of another year might suggest to some that she be named permanent executive of the ‘Flat Earth Society’, that much-publicised body which will not permit facts to disturb its fond beliefs. But the Prime Minister’s optimism is widely shared in the Establishment, even though at Cabinet level there is great confusion when attempts are made to substantiate the new feeling.

It is becoming very apparent that the country at large is unaware of the drastic changes in economic policy which are taking place and which obviously provide the background for the flood of optimism now washing away the grim calculations of yesterday. We may continue to expend much time and energy following the exercises in the Planning Commission, but it is beginning to dawn upon us that the catalyst is no longer the resource mobilisation and investment programme of GOl. Attention is now finally fixed on foreign capital as the engine of progress, and no effort is to be spared to facilitate its operations in India. The Minister for Industry, who was daily being denounced as a socialist saboteur determined to paralyse growth, has now emerged as the herald of an era which promises to be quite the reverse in content. If these are matters decided upon in Cabinet, there is every reason to believe that during the next few weeks many strange ideological transformations will be witnessed.

Updated On : 11th Jan, 2019

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