Question

Debate on Liberalisation Market versus state​

Answer 1

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For much of the 1990s, the debate in India gradually shifted against a major role for the State in the economy and for primacy to the market and private enterprise. Even services like water and electricity were considered for transformation into private market-driven enterprises. Dr Ravi Kanbur of Cornell University pointed out in a recent lecture at ISEC in Bangalore that this shift was not confined to India and had occurred during the 1980s in Latin America, Africa, Asia and the old Soviet Union and its satellites.

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