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Saturday, Dec 04, 2021
Outlook.com
opinion

Book Of Blunders

The UPA squandered the opportunity to deliver on good governance

Book Of Blunders
Illustration by Sorit
Book Of Blunders
outlookindia.com
-0001-11-30T00:00:00+05:53

The UPA's irresponsible management of government finances ensured it had little room for manoeuvre when the downturn came. The government is announcing package after stimulus package. But it is unable to spend the money it has sanctioned. Road construction—an activity central for jobs, inclusion and growth—slowed down because the government endlessly procrastinated over simple contracting issues.

The government wanted inclusive growth, yet it has done virtually nothing for small and medium enterprises and the informal sector, the real drivers of growth. Big industry could rely on captive power plants and special treatment, while small entrepreneurs had to bear the cost of bad public infrastructure. It spent all its political capital on subsiding big business, creating SEZs that are, to put it simply, the largest granting out of private diwani rights since the coming of the East India Company.

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