Saying that the "1991 miracle" had diminished rather than enhanced India, senior Congress leader Mani Shankar Aiyer called for a "re-think" on the country’s economic policy on Thursday.
"The entire world is moving closer to the 'Nehruvian economic model' of mixed economy, while, regrettably, India is drifting away from it," Aiyer said while releasing a book by Arun Kumar, professor at the Jawaharlal Nehru University.
Advocating an "alternative economic model", Aiyer said the liberalisation policies – initiated in 1991 – had led to various discrepancies. "While GDP rates have grown, progress poverty alleviation programs have remained stagnant," Aiyer pointed out.
It is being said that the "CIA is determining our politics and the CII is ruling the economy", Aiyer quipped.
Titled Indian economy since Independence – persisting colonial disruption, the 800-paged book presents a historical and political survey of India’s economic development since 1947.
Published by the Vision Books, the hardback – priced at Rs 1450 builds on the theme that the disruption in Indian society is a hangover of the colonial rule.