Government Subsidies: Are They Solution To A Bigger Issue Or Development’s Foe?
Subsidies are one of the quintessential attributes of any state. When it comes to India, on the eve of independence was left with an uphill task of socio-economic development. Markets were almost nonexistent, the masses lived in abject poverty and illiteracy, we weren't producing enough food to satiate the hunger of the masses, and our lifespan was just 32 years. There was a crisis in every sphere -- agriculture, industry, health or education -- partly due to colonial legacy. Given such circumstances, the founding fathers of democratic India rightly envisaged the Indian state to be a state. However, 70 years down the road only a few problems have abated, while new ones cropped up and poverty still stubbornly remains a pressing problem. In this context, the latest economic survey rig...
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