When the Indian farmers are protesting against the farm laws (which the Govt thinks in its wisdom that they are for their benefit) and the others opposing National Asset Monetisation scheme, it reminds us of late 80s and early 90s when India had launched its economic reforms. Rather the whole era right from the time when Mr Rajeev Gandhi tried revolutionizing the telecom sector and opening up of the economy, India witnessed almost similar kind of voices from opposition ; India is being sold to capitalists, India’s integrity will be endangered, Govt is once again inviting East India Company ,The Govt is anti poor and so on.
The economic reforms although heralded a new era in India’s history but we continue to hear similar kind of noises, whenever the reforms are brought in, the only difference is – Earlier BJP was opposing and now it is trying to bring reforms.
In 90s the Bharatiya Janata Party under the leadership of Atal Bihari Vajpayee was extremely critical of the Govt’s approach to foreign investment and as usual it argued that Foreign Direct Investment would be detrimental to India’s interests. Even Yashwant Sinha, criticised the industrial policy reforms. They blamed the Govt for selling India. The Left parties position has not changed, they were then also opposed to the liberalization process that Prime Minister P.V. Narasimha Rao and Dr. Singh had embarked upon.
Thus the economic reforms that kick-started in 1991 despite the massive opposition both by the BJP and Leftists brought about expansion of the services sector that was helped largely by a liberalised investment and trade regime. The reforms also reduced poverty significantly as has been indicated by various Human development Indices over the years.
The share of services in GDP has increased 20 percentage points since 1991, reflecting a decisive change in the nature of India's economic output. The chart on top is an indicator as to how the Reforms changed the course of Indian economy.
It would therefore not be wrong to state that - What we are today in 2021 is purely because of the conviction and commitment of Dr Singh and Narsimhan Rao towards Reforms.
And when we started in 1947 , it was a compuslion of the Govt to be Socialistic as the Nation got freedom after an unprecedented Pan India mass movement on a promise that NO ONE WILL SLEEP HUNGARY AND THERE WILL NOT BE ANY FAMINES.
Some one very rightly pointed out ;
“June 21 to July 24, 1991 India witnessed an intellectual revolution, but it was an evolutionary one — both the crisis and the response were some years in the making. To borrow an analogy from the great historian of ideas, Isaiah Berlin, if Dr. Singh was the hedgehog who knew only one big thing and that is economic reforms, Rao was the crafty and cunning fox who knew many things. It was this unusual jugalbandi that rescued India at its darkest moment when India could well have mirrored Greece in 2015”.
This is surely no exaggeration as we could have faced a huge economic crisis like Greece or Venezuela have faced, had those economic reforms not been launched in 90s.
Youngsters who are today 30 years old shouting lungs out Modi- Modi/BJP-BJP and the farmers and the opposition leaders who are accusing the Govt for selling India to Ambani and Adani should realize that those who are in their 50s and 60s have heard all THESE slogans before.
The cars, the mobikes of different models and make, the consumer items, the mobile phones, that these young men are seeing and using today are the result of those reforms which were opposed by the same parties and its leaders who are being revered today.
The point to be understood is ;
Did Dr Singh and Rajeev Gandhi push the reforms without any opposition?
The answer is No. There was uproar in India ; both inside Parliament and Outside and it was led by BJP, but the duo PM Rao and Dr Singh continued the reforms and when BJP came to power it continued the reform process but it was then opposed by the Cong which was in opposition.
Therefore, the ultimate essence that needs to be understood is ;
The Ruling Govt must continue with Reforms process in the interest of people and Opposition must oppose and keep the Govt on toes.
As regards, common man ( be it a farmer or an office goer or a trader) -
it must understand that ECONOMIC REFORMS are not a ONE TIME EVENT but are a continuous process and he will undoubtedly benefit from the reforms if the Opposition keeps the Govt on toes.
As regards these slogans ; India is being sold to Ambanis and Adanis , Govt is anti poor etc etc , these serve the purpose of only opposition parties and their supporters to keep their morale high. Because, Ambanis and Adanis will continue to grow as they have been growing for last 40-50 years irrespective of whosoever was in power.
And as regards Dr Singh ; he might say BJP is getting the taste of its own medicine.