From “socialism” with restricted entry to “Marketism” without exit: The Chakravyuha Challenge

Supreet Johal, Monika Dahiya

Abstract


India has made great efforts for overcoming the barriers to the entry of firms, talent, and technology into the economy. But hardly any effort is made for a smooth exit. Therefore, the country has now moved from ‘socialism with limited entry to “marketism” without exit’. Delayed and critical exit has substantial fiscal, economic, and political costs associated that are not just effecting the public sector and manufacturing but the private sector and agriculture too. A number of solutions to facilitate exit are possible. The government’s initiatives including the new bankruptcy law, rehabilitation of stalled projects, proposed changes to the Prevention of Corruption Act as well as the broader JAM agenda hold the promise of facilitating exit, and providing a significant boost to long-run efficiency and growth. The objective of this review paper is to study the various problems associated with the Exit Policy in Indian Economy.

KEYWORDS: Chakravyuha, Fiscal, Economic, Political, Interest, Institution, Ideology.


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ISSN : 2251-1555