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:
“The horror of Gandhi’s murder lies not in the political motives behind it or in its consequences for Indian policy or for the future of non-violence; the horror lies simply in the fact that any man could look into the face of this extraordinary person and deliberately pull a trigger.”
—Mary McCarthy (1912–1989)
“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)
“War is thus divine in itself, since it is a law of the world. War is divine through its consequences of a supernatural nature which are as much general as particular.... War is divine in the mysterious glory that surrounds it and in the no less inexplicable attraction that draws us to it.... War is divine by the manner in which it breaks out.”
—Joseph De Maistre (1753–1821)