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Nehru, Indira's policies hurt Indian economy for first five decades: FM

Finance Minister Nirmala Sitharaman criticized the economic policies of former Prime Ministers Jawaharlal Nehru and Indira Gandhi, stating that their socialist and protectionist approaches stunted India's economic growth for the first five decades post-independence. Speaking at the launch of the book "Made in India: 75 Years of Business and Enterprise" in Mumbai, Sitharaman highlighted that these policies led to a lack of industrial growth and entrepreneurial spirit, with the economy being overly regulated and controlled by the government. She contrasted this with the economic liberalization that began in 1991, which she credited for unleashing India's economic potential, fostering entrepreneurship, and integrating India into the global economy. Sitharaman also mentioned that the current government under Narendra Modi has continued this trend by promoting ease of doing business and reducing bureaucratic hurdles.

Read the Full Business Standard Article at:
[ https://www.business-standard.com/politics/nehru-indira-s-policies-hurt-indian-economy-for-first-five-decades-fm-124121601311_1.html ]