The troubled economic times were the focus of discussion on the second day of the Jaipur Literature Festival here today, as author of "Breakout Nations" Sharma discussed the prospects and pitfalls of development in India.
"For the first time in our history, we have six chief ministers who have been elected three or more times, all on the platform of development.
That is a source of optimism," he said, adding, "Also, the reforms undertaken after a long gap during 2012 is a good sign."
But in the same vein, the Jaipur-born author struck a note of caution, listing a number of reasons why things could still go wrong for India, one of them being crony capitalism, which discourages "genuine entrepreneurs".
"In addition, one-third of people in the billionaires list consist of those who have made their money from selling natural resources, not through actual entrepreneurship. Besides this creation of wealth from commodities, the names in this list in India have almost been a constant
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.