June 22, 2016
The New Delhi Consensus is responsible for the tragic rural scenario in India.
Niranjan Rajadhyaksha has written an article discussing the New Delhi Consensus about the pace and methods adopted for liberalization in India.
Along with its pros, he has also said that “Inequality has increased. Many social indicators are still scandalous. Perhaps the most serious failing has been the inability to create adequate jobs in the modern sector to absorb the surplus labour in agriculture”.
This has also underlined the blunders in identification of priority areas for economic reconstruction and liberalization. We should have started from those sectors which have been under draconian controls first. Agriculture.
The New Delhi Consensus has resulted in the collapse of rural economy and agriculture leading to lakhs of farmers to commit suicides.