…the opportunity was wasted. Infrastructure did not keep pace with the economy’s needs. And, more deplorably, educational standards lagged.
To dampen the additional inflationary pressures implied by a weaker rupee, more aggressive fiscal retrenchment is needed.
So, if India still needs infrastructure and educational improvements yet fiscal retrenchment is being called for, then one need assume the infrastructure and educational facilities are only to be privately held. Would that be the wisest choice?
America’s superhighway system, for instance, was built with public funds and is largely still operated by government. Was it wrong to publicly fund “freeways,” or should they have all been private toll roads all this time (assuming they would have been built at all)?