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The freer play of market forces has led to increasing tensions, according to an economist.
Delivering the inaugural address at a conference on ‘Market, State and Society in Emerging India’ at the Justice K.S. Hegde Institute of Management at Nitte in Udupi district, Vinod Vyasulu, advisor at the Bangalore-based Centre for IT and Public Policy, said that the market-oriented economic reforms have led to rapid growth in the last two decades. But the freer play of market forces has also led to increasing tensions.
The Government has to shoulder the responsibility to govern and regulate markets for executing corrective measures, he said.
Though the country has a democracy, many representatives get elected with the support of small groups. Obviously, after getting elected they try to protect the interests of such small groups. They do not try for the whole country, he said.
Huge cities are coming up as a result of wrong priorities and defective planning. Though there is plenty of sunshine, no serious effort is made to generate renewable energy, he said.
A statement said here that N. Vinay Hegde, Chancellor of Nitte University, presided over the inaugural function. The Registrar of Nitte University, M.S. Moodithaya, released the conference papers. K. Sankaran, Director of Justice K.S. Hegde Institute of Management, and G.V. Joshi, conference convenor, spoke on the occasion.
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