The reforms of the early 1990s did not bring economic freedom to a majority of the population. That explains a large proportion of the economic and social ills that affect India today. Why is economic life in India of the ‘Taliban type’? Why is illiberal thought still our guiding principle?
Economic liberalism is easy to define – it is what India does not have. And barring a few well-known exceptions, in terms of economic liberalism, India has been, and is, among the most ‘Talibanic’ of nations. This is surprising and counter-intuitive, given that we are celebrating the 66th anniversary of India’s independence and the gain of political freedom.