A crisis going waste

INDEPENDENT INDIA HAS found itself backed into serious crisis several times in the past (political, economic and national security crises), and each time found the resilience to bounce back and enter a new phase of expansive growth. The Green Revolution, the 1991 reforms and the Kargil War are three of the more salient instances. Thus a crisis could be an occasion for catharsis – an opportunity for the system to purge itself of dysfunctionalities and transform itself. “Never let a crisis go waste”, as was famously said by Rahm Emmanuel...

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