Now Reading: Chidambaram attacks current economic model, questions growth
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Chidambaram attacks current economic model, questions growth
Former finance minister P Chidambaram has criticised India's current economic model, saying it is not based on ground reality or economic expertise. Speaking at BusinessTodayIndia@100, he said the economy is caught in…
Former finance minister P Chidambaram has criticised India's current economic model, saying it is not based on ground reality or economic expertise. Speaking at BusinessTodayIndia@100, he said the economy is caught in a web of regulations, inspections, crony capitalism and bureaucratic hurdles, which he described as a new 'license raj' worse than before 1991.
Chidambaram questioned the effectiveness of Make in India, Atmanirbhar Bharat and PLI schemes, noting manufacturing's share in GDP remains stuck at around 13.5-14 per cent. He cited semiconductor plants receiving 80-85 per cent government subsidy, arguing this cannot be seen as private investment success. He also asked why India has no free trade agreements with major partners like the US, China, Germany and France, only with smaller countries.
He called for a clear economic vision that creates jobs and infrastructure, not just growth numbers. Citing the example of PV Narasimha Rao and Manmohan Singh, he said strong political leadership must be matched by deep economic understanding.
Indian Opinion Analysis
Both sources from Business Today India carry the same speech by Chidambaram, presenting his criticism without rebuttal from the government. The coverage is straightforward reporting of his remarks, with no independent analysis or official counterpoints included. A careful reader should note this is one politician's critique, not a verified assessment. The absence of government response in these reports leaves the claims unchallenged. Watch for whether the finance ministry or ruling party issues a statement in the coming days.
Coverage: 7 sources, 2 government-critical, 5 neutral
Sources (7): bazaar.businesstoday.in (government critical), bazaar.businesstoday.in (2) (government critical), tupaki.com (neutral report), tupaki.com (2) (neutral report), tupaki.com (3) (neutral report), tupaki.com (4) (neutral report), tupaki.com (5) (neutral report)
This story was synthesised by AI from the 7 sources linked above.
Updated: this story now draws on 7 sources.
