Financial Daily from THE HINDU group of publications
Wednesday, Sep 15, 2004
Financial Daily from THE HINDU group of publications Wednesday, Sep 15, 2004 |
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Opinion
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Letters Plan panel
This has reference to the article on induction of foreign agencies in the Plan panel (Business Line, September 14). The introduction of IMF, ADB and private consulting firms has-far reaching implications which may cut at the various root of our economic policy framework. This move will give such agencies a direct opportunity to impose "IMF" prescriptions from inside the Government. Even as outside agencies, they have vociferously implemented capitalist prescriptions in the South Asian and Russian economies, with disastrous results. Once they are allowed to have a say on the country's highest policy-making panel, the aggressiveness with which they will move to implement the World Bank prescription may be more pronounced. Leave alone the World Bank agencies, the induction of McKinsey and Co, a private consulting firm at the highest level, is also fraught with worrisome consequences. Such agencies cannot but be expected to ruthlessly promote private western interests to the detriment of the Indian economy. The whole idea needs a thorough and urgent review. R. Devarajan Noida
Letters to the editor and contributions can be sent by e-mail to: bleditor@thehindu.co.in
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