Dehradun, May 26 -- India has become the fourth largest economy pulling ahead of Japan and is soon expected to overtake Germany to take the third position. This is obviously the result of, first, the 'liberalisation' that took place in the times of PM Narasimha Rao, when the nation was teetering on the edge of bankruptcy, and then the fillip given by the pragmatic policies adopted under PM Modi. There is criticism that the economic growth has not resulted in enough jobs and equitable distribution of wealth, but is it anybody's argument that the earlier situation was better?
One must recall how South Korea transformed its economy based on the principle, 'This generation for the next'. This implied that sacrifices and efforts have to be made...