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realisation that ultimately without coming back to the home market as the basic fulcrum there is hardly any real possibility to successfully carry out any anti-cyclical policies. Probably the pro-poor measures are a limited corrective in this respect. For this purpose pump priming by means of big-ticket public spending on welfare and entitlement programmes for the masses is the only way. To the extent the Budget for the year has shown a live concern at least marked by a spate of announcements that punctuated the Budget speech (a detailed arithmetic has to be undertaken to see the real connotation of these moves), it is a step that delivers a clear political message and has to be sustained by ground-level action by enhancing the relative significance of these measures and the method of their financing as any shifting of the burden of additional finances on to the common people would make such steps an illusion. The rebound of these income injections on business turnover and profits should enlighten the business classes to subdue their opposition to such shifts in the pattern of public spending. After all, the slowdown has been in India prior to the global slowdown, especially in the manufacturing sector even in the face of about 30 per cent investment growth in this sector (on top of the dismal performance of the farm sector witnessed over a long stretch of time). Thus the global slowdown came at a time when the inner contradictions flowing from the neglect of the home market, qualitative and structural aspects of the growth process capable of responding to the indigenous conditions and compulsions, including welling up and periodic bursting out of pent-up social tensions were already making their presence felt.

 

In brief, the move towards a somewhat more liberal spending by the government on social programmes, not very sizeable compared to the customary spending on infrastructure for the elites and rich men's other public and quasi-public goods and services, seems capable of combining in the short term the pursuit of the narrow economic agenda with a little broader social agenda. If this is what has been done, one may say that a process of reconciling conflicting pulls and pressures has been initiated in a manner that is somewhat new for the regimes we have been seeing for quite some time now.

 

However, one cannot ignore the trends of a different kind running parallel to the relatively more open-fisted public spending for the common people approach. Obviously with the stated and relatively fixed policy preferences and processes of visible open mutual consultations with the big corporate entities and their lobby organisations on an ongoing basis, the G-20 postures and substance and the imprecise and vague references to inclusive growth (reminiscent of the rhetoric of the earlier period with many fancy words that accompanied disequalising, eco-hostile, dependence-fostering growth) it would have been a miracle that the Verdict 2009 can go so far as to make the powers-that-be downgrade the salience assigned to the private capital both local and alien. Clearly all that seemed feasible and consistent with the above basic commitment has been largely attempted. Hence it gives us a somewhat revamped model that tries to operationally reconcile the growth, gl本论文由英语论文网提供整理，提供论文代写，英语论文代写，代写论文，代写英语论文，代写留学生论文，代写英文论文，留学生论文代写相关核心关键词搜索。