COMMUNICATION WITH Mr. GURUMURTHY(Columnist)

 Apropos “reforms not outdated, Mr. PM?” There is no two opinion on Indian ‘reform’ process should be endogenous. However, the economic theory of ‘returns to scale’ also applies to reforms driven by free market economy and therefore, current reforms would most likely to provide increasing return at an increasing rate since Indian economy has large amount of inefficiency in Agriculture, Energy, Education, Healthcare and even in Retail sector; which can be expected to contribute to the Indian growth story by attracting FDI and domestic private capital and management helping to eliminate legacy of inefficiency and unlock value which would not have been possible by our bolted Govt. & Public sector. This can not be called ‘waste paper basket of outdated Ideas’; though, celebrated author has made an attempt to reinvent a very “colorful phrase”. Author has wrongly compared American Economy with Indian Economy; which is as same as ‘chalk from cheese’ in its size and sophistication. Therefore, what applies to USA does not apply to India and vice- versa. Author has apparently tried to cloth his Ideological position with Intellectual arguments which should ideally be treated with contempt for Intellectual dishonesty and heresy.  

Bikash Choudhury, Bhubaneswar