India’s MoS for HRD tries to defend NFSB / LARR

India’s MoS for HRD Mr Shashi Tharoor has this http://www.project-syndicate.org/commentary/india-embraces-the-welfare-state-by-shashi-tharoor piece on the two most “crucial pieces of legislations’ of the Congress, i.e. NFSB and Land Acquistion (may be just before the elections we could see it being renamed with some of the dynasties famouus leaders).

We had earlier argued that how NFSB http://wp.me/p3FAl7-78 / LARR http://wp.me/p3FAl7-7d are just populists pieces of legislations.

Since it failed to promote policies that promote growth (India’s poverty alleviation coincided with high growth rates experienced by the economy), India’s growth collapsed and now we are stuck with an economy thats sputtering along @ 4 – 5% for next 2- 3 years may be. With elections round the corner, the government needs a facesaver, it hopes that these populist legislations would garner votes.

But sadly for the ruling dispensation, election after elections in states offlate, it has been noticed that states with high economic growth rates vote back the ruling party to power.

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