India Tryst with Destiny Debunking Myths that Undermine Progress and Addressing New Challenges Jagdish Bhagwati Arvind Panagariya 9789350295854 Books
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Policy discourse in India tends to be dominated by assertions unsupported by facts, with the media indulging one and all without proper scrutiny. Often, the result is the creation and perpetuation of myths of all kinds. Thus, many believe today that poverty, illiteracy and ill-health afflict India because its leadership ignored them in favour of growth for its own sake; that the economic reforms that focused on growth have failed to help the poor, especially the socially disadvantaged; that any gains claimed in poverty alleviation derive from the use of progressively lower poverty lines; and that even if gains have been made, with one in two children suffering from malnutrition, reforms have done precious little to improve health outcomes.
In this definitive book on economic reforms in India since Independence, Bhagwati and Panagariya decisively demolish these and other myths, which critics use as weapons to wound and maim the reforms. Using systematic data and analysis, they forcefully show that once the debris of critiques of India s reforms is cleared, it becomes evident that intensification of reforms that allows sustained rapid growth is the only way to lift millions out of poverty, illiteracy and ill-health. They argue that only growth can provide sufficient revenues for the provision of education and good health for the masses.
India Tryst with Destiny Debunking Myths that Undermine Progress and Addressing New Challenges Jagdish Bhagwati Arvind Panagariya 9789350295854 Books
Policy discourse in India is always a slanging match between the pro and anti-globalization forces. The Left and the Liberals focus on the downside of India during the past twenty years of reforms which have moved India towards greater integration with the globalized world. They argue against the need for growth saying that it hasn't helped the poor and that poverty has not declined and that Indians are malnourished more than ever before. Even eminent Leftist economists like Joseph Stiglitz, Amartya Sen and Jean Dreze have been skeptical towards the need for growth to alleviate poverty, though they couch their arguments under 'growth not just for growth's sake'. For one who grew up in a lower middle-class milieu in India like me, this does not ring a bell. When I read such opinions, I get the impression that they do have a vested interest in saying so because socialism and the public sector have failed to reduce poverty significantly in India during the first 40 years after independence. If they accept now that neo-liberal policies have delivered growth and reduction in poverty, then it would be an admission of having been wrong. I suppose even Nobel laureates wouldn't do that.Dr. Bhagwati and Dr.Panagariya belong to the opposite camp which believes strongly in globalization and growth as a means to alleviate poverty and promote inclusiveness. If this book has to be summed up in a few sentences, it would be as follows: "Growth is the single most important instrument of poverty reduction; and India needs to both accelerate growth and make it more inclusive through track-I reforms and make its redistribution programmes more effective through track-II reforms. Track-I reforms are about reforms in labor laws, acquisition of land for development projects, infrastructure development and higher education. Track-II reforms are about reforms in subsidies through direct cash transfers, nutrition, food security, health care and elementary education".
The book takes aim at the plethora of mostly negative views ( termed as 'myths' by the authors) that surround the reform efforts in India. In the authors' opinion, these myths and half-truths distort execution of economic policies and ironically, harm inclusiveness of economic growth. Most of the 'myths' are quite familiar to readers who have been interested in India's reform efforts and growth. Some of them have become so accepted as 'facts' that even eminent economists and civil society activists in India, such as Dr.Amartya Sen, critique economic policy in India with these 'facts' as a given. I was particularly interested in the way the authors have demolished a couple of them, which I also held to be facts rather than myths. They are:
1."The Kerala model has yielded superior education and health outcomes".
Contrary to the Left view that Kerala has advanced due to its traditionally socialist model, the authors show that two-thirds of primary and secondary education in Kerala is provided by private-aided schools, and almost half the people have shifted from government to private health service in view of the deteriorating performance of the former. Most of this has been made possible by the vast numbers of Keralites working in the Gulf and remitting money home. Also historically, Kerala's early integration with globalization through spice trade is a factor in giving Kerala a leg up when India became independent in 1947.
2. "India suffers from the worst malnutrition anywhere in the world, including the much poorer countries in sub-Saharan Africa".
The authors question the decline in calorie consumption as an indication of increased hunger and show through systematic data that, based on various health indicators, household expenditure data and other social indicators, this conclusion of 'malnutrition' is a myth.
3. "Reforms have led to increased inequality and ushered in the 'Gilded age' in India".
The authors, with the aid of data, show that this is not the case. Further, they also point out that income differences between the historically disadvantaged groups such as the Scheduled castes/Tribes and the others have NOT gone up during the years of rapid growth.
The authors provide sound reasons for medium and long-term optimism on India's prospects. One can argue that they are biased in this optimism. However, I agree with their poser, 'unless we expect that we can change the world, why turn to policy analysis at all?'. For people like me, who believe in the beneficial effects of globalization in poverty reduction, this book comes as a positive analysis based on statistical data and as an anti-dote to the prevailing negativity about India's present and future. Even people who are against India's reforms approach and neo-liberal economics, would find that they need to supply hard, data-based evidence in order to refute the arguments of Dr.Bhagwati and Dr.Panagariya.
This book would do a lot of good to the many middle-class English speaking Indians, who are not ideologically committed one way or another. It would help to dispel their current bout of negativity and pessimism, which are based on half-truths, partisan politics and often, lies.
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Tags : India's Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges [Jagdish Bhagwati, Arvind Panagariya] on Amazon.com. *FREE* shipping on qualifying offers. Policy discourse in India tends to be dominated by assertions unsupported by facts, with the media indulging one and all without proper scrutiny. Often,Jagdish Bhagwati, Arvind Panagariya,India's Tryst with Destiny: Debunking Myths that Undermine Progress and Addressing New Challenges,HarperCollins Publishers,9350295857,Nonfiction Social Science
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India Tryst with Destiny Debunking Myths that Undermine Progress and Addressing New Challenges Jagdish Bhagwati Arvind Panagariya 9789350295854 Books Reviews
"India's Tryst with Destiny..." are words echoing from Pundit Nehru's midnight speech on 15 th August 1947, which heralded India's Independence. Memorable words with lofty ideals. The Fabien Socialist was guided by his heart in his historic speech. The pride of freedom and the passion to create a new vibrant India were at the core of these golden words that inspired the world's largest Democracy. Gone were the shackles of the Colonial rule. India was free to guide her own destiny after three centuries. Britannia no longer ruled India or her waves.
The British conquered a prosperous nation three centuries ago. After systematic colonial exploitation, independent India was a dilapidated economy, in 1947.
Pundit Nehru would not let this pitiable situation to continue any longer. India adopted a model of "Mixed economy", led by Central Planning, to optimize national resources, maximize growth and eliminate poverty. In the process, the Government took core responsibility for all economic activities.
In this book, a clear distinction is drawn between the economic policies of Pandit Nehru and his daughter Mrs Indira Gandhi. It is mentioned that Mrs Gandhi was more leftist, and was responsible for ushering in the `Licence Permit Raj'. Her aggressive policies included nationalisation of large private sector banks, abolition of privy purses, and even declaration of national emergency.
In my opinion, Mrs Gandhi did what was right during her tenure. The captains of Indian Industry, who claim themselves as saints today and complain of her high handedness, on hindsight, were themselves not clean.
This book very briefly discusses India's economic trajectory from 1947 till 1991, where India was not only the world's largest Democracy, but also was home to world's largest number of poor people, in addition to the dubious distinction of being labelled as one of the world's most corrupt countries.
On an optimistic note, `When all else is lost, the future is still there'.
This book is then, about the future of India, tracing economic policies and performance from 1947 till date and prescriptions for beyond.
There is specific focus on the reforms of 1991. It dispels the popular myths (mostly leftist) that criticize government policies.
Examples of such myths listed in the book
-Myth 2.1 `Indian planners pursued growth..... Ignoring poverty reduction'
-Myth 2.5 `By itself, growth makes `the rich richer.....'
-Myth 4.1 `Reforms have led to increased inequality'
-Myth 6.1 `Reforms have led to increased suicides by farmers'.
Myths dispelled, with accurate data and convincing arguments, the authors proceed to the most important agenda of the book.
The next part of the book focusses on policy prescriptions to attain the twin objectives of economic growth and poverty alleviation.
The discussion on Track I and Track II reforms in this book is outstanding. From an Economist's perspective, this is a great way ahead.
Track I Reforms aimed at accelerating and sustaining growth while making it even more inclusive.
Track II Reforms to make redistributive programs more effective as their scope widens.
It is a shame that even today, after all the bold political proclamations and economic theories, India is one of the poorest and also the most corrupt countries in the world.
Compare India with South Korea. Both countries were on par in 1961. Today South Korea has a per capita income of about USD 20000 compared to India's USD 1500 at best.
The authors are most well read, recognized and celebrated. Their recommendations in this book are purely from an Economic perspective.
Economic reforms can reduce the chances for corruption by removing discretion, improving transparency and speed. Every government scheme launched, with laudable objectives ends in failure due to corruption and inefficiencies. Ending subsidies, lowering governmental control and direct cash transfers to the poor are the best possible measures under these circumstances.
The book suggests many bold and practical measures, to ensure growth and eliminate poverty. Litmus test for India's growth is not increase in GNP (Gross National Product), but the total elimination of GNP (Gross National Poverty).
Good economics alone is not sufficient to steer a country towards prosperity. We need a change of heart, courage, a clear conscience in public matters and zero tolerance for corruption. If we can achieve this, in my opinion, all else will fit in. Economics is incidental.
My 5 star rating for this book for great insights on failed economic policies of the past and some bold prescriptions for the future.
Policy discourse in India is always a slanging match between the pro and anti-globalization forces. The Left and the Liberals focus on the downside of India during the past twenty years of reforms which have moved India towards greater integration with the globalized world. They argue against the need for growth saying that it hasn't helped the poor and that poverty has not declined and that Indians are malnourished more than ever before. Even eminent Leftist economists like Joseph Stiglitz, Amartya Sen and Jean Dreze have been skeptical towards the need for growth to alleviate poverty, though they couch their arguments under 'growth not just for growth's sake'. For one who grew up in a lower middle-class milieu in India like me, this does not ring a bell. When I read such opinions, I get the impression that they do have a vested interest in saying so because socialism and the public sector have failed to reduce poverty significantly in India during the first 40 years after independence. If they accept now that neo-liberal policies have delivered growth and reduction in poverty, then it would be an admission of having been wrong. I suppose even Nobel laureates wouldn't do that.
Dr. Bhagwati and Dr.Panagariya belong to the opposite camp which believes strongly in globalization and growth as a means to alleviate poverty and promote inclusiveness. If this book has to be summed up in a few sentences, it would be as follows "Growth is the single most important instrument of poverty reduction; and India needs to both accelerate growth and make it more inclusive through track-I reforms and make its redistribution programmes more effective through track-II reforms. Track-I reforms are about reforms in labor laws, acquisition of land for development projects, infrastructure development and higher education. Track-II reforms are about reforms in subsidies through direct cash transfers, nutrition, food security, health care and elementary education".
The book takes aim at the plethora of mostly negative views ( termed as 'myths' by the authors) that surround the reform efforts in India. In the authors' opinion, these myths and half-truths distort execution of economic policies and ironically, harm inclusiveness of economic growth. Most of the 'myths' are quite familiar to readers who have been interested in India's reform efforts and growth. Some of them have become so accepted as 'facts' that even eminent economists and civil society activists in India, such as Dr.Amartya Sen, critique economic policy in India with these 'facts' as a given. I was particularly interested in the way the authors have demolished a couple of them, which I also held to be facts rather than myths. They are
1."The Kerala model has yielded superior education and health outcomes".
Contrary to the Left view that Kerala has advanced due to its traditionally socialist model, the authors show that two-thirds of primary and secondary education in Kerala is provided by private-aided schools, and almost half the people have shifted from government to private health service in view of the deteriorating performance of the former. Most of this has been made possible by the vast numbers of Keralites working in the Gulf and remitting money home. Also historically, Kerala's early integration with globalization through spice trade is a factor in giving Kerala a leg up when India became independent in 1947.
2. "India suffers from the worst malnutrition anywhere in the world, including the much poorer countries in sub-Saharan Africa".
The authors question the decline in calorie consumption as an indication of increased hunger and show through systematic data that, based on various health indicators, household expenditure data and other social indicators, this conclusion of 'malnutrition' is a myth.
3. "Reforms have led to increased inequality and ushered in the 'Gilded age' in India".
The authors, with the aid of data, show that this is not the case. Further, they also point out that income differences between the historically disadvantaged groups such as the Scheduled castes/Tribes and the others have NOT gone up during the years of rapid growth.
The authors provide sound reasons for medium and long-term optimism on India's prospects. One can argue that they are biased in this optimism. However, I agree with their poser, 'unless we expect that we can change the world, why turn to policy analysis at all?'. For people like me, who believe in the beneficial effects of globalization in poverty reduction, this book comes as a positive analysis based on statistical data and as an anti-dote to the prevailing negativity about India's present and future. Even people who are against India's reforms approach and neo-liberal economics, would find that they need to supply hard, data-based evidence in order to refute the arguments of Dr.Bhagwati and Dr.Panagariya.
This book would do a lot of good to the many middle-class English speaking Indians, who are not ideologically committed one way or another. It would help to dispel their current bout of negativity and pessimism, which are based on half-truths, partisan politics and often, lies.
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