I read an interesting and thought provoking article about Populism in TOI today. All the political parties in India have been engaging in the policy of giving freebies for votes under the guise of being Pro-Poor. This has grown to the extent that one has to wonder whether India has three different systems - Capitalism (for rich), Socialism (for middle class) and Communism (for the poor) all simultaneously existing together. How long will the party go on like this?
Not for indefinite period for sure.Mainly due to these policies, Many of the states of India are heavily in debt to the tune of laks of crores, not unlike the United States. As the US has come to realize, the laws of economics will one day catch up with these governments.
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