People compare India in 1993 to Greece in 2015 and point that congress had nearly bankrupted India by ruling the country for four decades before the event. And they also believe that the bjp was instrumental in making India a economic powerhouse, even though they ruled India for few years.
So I have to get some facts.
Me: 1991 was a critical period in world economy. Much of the socialist regimes were on brink of collapse following the collapse of the Soviet Union. So one cannot compare India's situation in 1993 with that of Greece today. And not to mention that India was targeted for 20 years by western nations for liberating Bangladesh. And one have to agree that the same congress under Narashimma Rao brought India out of bankruptcy and laid the foundation for current economic growth.
So my question is, what would have bjp/Janata party done to avoid bankruptcy in 1993 if Janata would have ruled this country from 1977 to 1993?
Answer : they would have done what they are doing now and did during vajpayee period...
Me : Not possible. Because the idea of economic liberalization was brought into Indian policy making during the time of Narashimma Rao. I would like to know the economic policies that the 1977 Janata govt came up with to make India rich/super power.
Answer : u mean to say liberalisation will propser the country?!?! froget it.. no party will make the country to near bankruptcy.. as simple as that...
Me : Then why are bjp govts upholding liberalization? Even in defence sector the current bjp govt has made it law to allow 49% fdi. So can we say that such acts don't count as liberalization of the economy? And what about Modi's swearing on ending red tape and making India a better place for doing business!! This too don't count as liberalization?
Answer : we are talking the facts.. not the hypothetical questions like what BJP will do in 1977 like that.. if that is the case, i will ask the other way.. what congress did for the country from 1947 to 1977? 30 years is very decent period to launch their agenda..
Me: They were straight forward on socialism during the above mentioned time frame.
I Didn't ask a hypothetical question, I wanted to know what are the understandings on the economic policies of Janata govt. And how India would have progressed under their rule until the bankruptcy in 1993.
If we are talking facts, the Janata govt in 1977 was responsible for capital exit. IBM and coca-cola exited their India operations in 1978 following Janata govts economic policies.
Answer: u mean to say.. these two companies were holding indian economy!
Me : I mean to ask whether the capital exit in 1978 did contribute to economic downturn in 1993!
If we are speaking about make in India, then these are some facts to know. During The congress govts from 1951 to 95 and 2004 to 2014 India manufactured close to 2000 military aircrafts, more than 1500 military tanks, two naval sub marines, close to 20 capital warships. India also researched, designed, developed and manufactured more than 7 types of aircrafts, a wide array of missiles, became a leader in nuclear power research, became a nuclear power, constructed stealth ships, nuclear powered submarine, aircraft carrier, became a space power by reaching moon and mars, developed Indian alternate to GPS etc. Maruti was established as a car manufacturer and now has nearly 40% of market by sales. These may just look like ordinary facts but are actually influences to the current governments flagship policy, "Make in India".
We need to debate as responsible citizens of this country on what is good for our collective progress. Mere demonizing of past regimes will never let us to learn from the mistakes and successes alike.
And finally, I'm not a congress supporter, I'm a Indian by inheritance.
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