Page 7 - Intl. Review (Draft 1.3)

FEATURED

of 21 whole pages encompass- Sticking close to its Chapter 1 perfection is after all an elusive
ing their chapter on “Undermin- motto, stressing the “The Invis- idea, nevertheless for a country
ing Markets: When Government ible Hand (of the market) Sup- standing at the crossroads of a
Intervention Hurts More Than It ported by The Hand of Trust”. The great potential lying decadent,
Helps”. With particular limelight amendment limits when & where the rallying cry of active liberali-
shed onto the anachronistic na- the government can intervene sation is a tempting idea. Teeter-
ture of the Essential Commod- against price-rises only on pre- ing over dangerous territories at
ities Act (ECA) from 1955, half determined crisis situations, and a time where mass rage engulfs
a century hence. It was an ex- that too, surrounding essential the huddled masses flustered
haustive analysis of all the ways commodities that the central with the stormy waves of dreary
ECA was hurting and exacer- govt. would define time-to-time. times. Times like these, of wide-
bating market failures if & when The looks of it seemingly a cen- spread grief and shared trauma
they flared up, however, it did so tralising move, placing more can be one where change can
with the over-arching acknowl- onus in the hands of the cen- be scary, understandably so it
edgement of the superseding tral govt. However, by nature it’s spills over into transgression. But
supervisory involvement of the another privatising move giving if we are ever to see the light
government, state or central. more freedom to price-setting of day with the sun shining over
market players to operate more a rebuilding economy flourish-
independently before. Allowing ing at the rapidity it deserves to
the market more breadth to sort bloom with, then we as a union,
any volatilities out which were as a republic, should aspire to
hitherto rife with governmental come together, coalescing into
intercepts. Involvement which realising our golden ideas of to-
has long been proven to be ex- morrow with the spirit of unifying
acerbating rather than normal- colours, built on trust & hope.
ising, as evidenced by the onion Good faith and tenacity.
crisis of 2019. Happy New Year; to the
People of the world & the Peo-
Deliberation, not disputation ple of India, the Republic of In-
All-in-all, the reforms to- dia.
gether speak a clear directive,
that the way forward for the on- At the time of writing,
going administrative is going to govt. authorities had
be drifting into laissez-faire ter- agreed to sit-down in de-
ritory. With the go-to response to liberating panels seeking
all inefficiencies being minimum amendments but opposed
government, maximum gover- any repeals, following
nance. which the Supreme Court
Moving forward, what do put a stay order upon the
we take from this action & its laws. The remainder of
public counteraction? It all stems how it plays out remains to
down to what you, as the ob- be seen, and as & when it
server, views the current stand- wounds around a conclu-
ing of the country as being. Is sion, it’ll reflect in updates
the country maximally efficient? to this journalistic piece.
Or are their cracks to be fixed?
If it’s the latter, then there’s no
doubt these are attempts at
moving forward. Freeing the
establishment from the yoke of
bureaucratic weight pulling it
down over the years. It may very
well be a far cry from perfect,

Volume #01 6