Is India becoming a “Capitalist Economy” in the name of “Atmanirbhar Bharat”
Hello folks, I’m back with
a brand new story (:
As Investopedia says ( Capitalism is an economic system in which
private individuals or businesses own capital goods. The production of goods an
services are based on supply and demand in the general market)
In simple terms, if I had to
say Capitalist economy referred to as the economic system wherein the factors
of production (land, labour, capital, entrepreneurship) is controlled and
regulated by the private sector.
Now the question comes ….
India is a mixed economy so now how they are transiting from mixed to
capitalist?
Well, guys with the massive
increase in the privatization in different sectors and the rising disinvestment
in different wholly-owned subsidiaries by the government indicates their inability
to handle growing demand.
So what exactly is happening
now?
From Space to the Insurance
sector government is inviting private players to take on a leap as one of the
statements quoted “We want to act as a
facilitator and want private players to control it better”
And you know what govt is in
rush to privatize as many industries as possible and want to weigh down
higher on capitalism rather than welfare and just to add a key point government
is keen to privatise 6-10 airports in the coming fall.
They have already given
greater leeway in Public-private partnership to private companies and corporates
are benefitted because they now can systemise and structure their services
based on demand whether you talk about railways or highly regulated defence
manufacturing.
As a matter of fact India’s
top ten billionaires rose rapidly between 2014 and 2018 and this gave rise in
extreme income inequalities and as an article from the print quotes that “Capitalism in India operates in a system
that is characterised by both formal rules and less formal deals.”
A rise in different public
sector bank’s NPA(Non- Performing Assets) even indicate the financial crunch of
India’s shadow banking Industry.
Well, what do you think…….!
What is the way from hereon ???????
Do let us know in the
comments section
Until then
Keep Safe and Keep Happy
♥♥♥♥♥
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