Gandhi Journal Article-I ( January 2017 )
By Dhiru MehtaThe business community hailed the economic policy of liberalization and globalization first enunciated by Manmohan Singh in 1991 as finance Minister of our country in the Government of P. V. Narasimha Rao. The same policy continued to guide the later governments. In the thinking on economic policy and matter there is no substantial difference between the different governments. Our country has practiced socialist economic policies for 40 years from 1951 to 1992. Since then the governments have been following policies of liberalization and globalization. At the advent of independence, the combined population of India then consisting of present India, Pakistan and Bangladesh was around 40 crores. Today the people living below poverty line in India alone are over 42 crores. It is reported that 1% of the population of the world would 99% of the resources of its wealth by 2016. The case of India is not much different. This clearly shows that neither socialism nor liberalization is the correct instruments for the economic growth and prosperity of this country. For solving countries economic problems one has to accept Gandhi’s economic solutions. Pandit Nehru realized it in his last days, which was too late for him to change the course. Advocates of present economic policy are getting highly intoxicated. The one of the idea of Gandhi’s economics was the concept of “Trusteeship”.