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:
“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.”
—Hannah Arendt (1906–1975)
“Every expansion of government in business means that government in order to protect itself from the political consequences of its errors and wrongs is driven irresistibly without peace to greater and greater control of the nation’s press and platform. Free speech does not live many hours after free industry and free commerce die.”
—Herbert Hoover (1874–1964)
“We are still barely conscious of how harmful it is to treat children in a degrading manner. Treating them with respect and recognizing the consequences of their being humiliated are by no means intellectual matters; otherwise, their importance would long since have been generally recognized.”
—Alice Miller (20th century)