Consequences
India had started out in the 1950s with:
- high growth rates
- openness to trade and investment
- a promotional state
- social expenditure awareness
- macro stability
However, by the 1980s, the country was left with:
- low growth rates
- closure to trade and investment
- a license-obsessed, restrictive state
- inability to sustain social expenditures
- macro instability, indeed crisis
Read more about this topic: Licence Raj
Famous quotes containing the word consequences:
“Resistance is feasible even for those who are not heroes by nature, and it is an obligation, I believe, for those who fear the consequences and detest the reality of the attempt to impose American hegemony.”
—Noam Chomsky (b. 1928)
“Cultivate the habit of thinking ahead, and of anticipating the necessary and immediate consequences of all your actions.... Likewise in your pleasures, ask yourself what such and such an amusement leads to, as it is essential to have an objective in everything you do. Any pastime that contributes nothing to bodily strength or to mental alertness is a totally ridiculous, not to say, idiotic, pleasure.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“Without being forgiven, released from the consequences of what we have done, our capacity to act would ... be confined to one single deed from which we could never recover; we would remain the victims of its consequences forever, not unlike the sorcerer’s apprentice who lacked the magic formula to break the spell.”
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