Former prime minister P V Narasimha Rao delivered the second JRD Tata Memorial Lecture, organised by the Associated Chambers of Commerce and Industry of India, New Delhi, on November 1, 1999. The article is based on his speech. The Rediff Business Special
Socially-conscious thinkers from all over the world, at all times, as well as far-sighted institutions, have forced us all, particularly in recent years, to reconsider the goals of development. Professor Galbraith and several others have written of the wisdom and need to perceive the difference between luxury and necessity, a topic that was considered elementary in our economic text books long ago. It seems to have been practically given up in recent years and everything is seen as necessity today -- or caused to be seen so. I am inclined to think that the Indian housewife, at least until very recently and even now in many cases, is the best judge of this very real distinction.
Towards the end of the 20th century, a galaxy of thinkers were saying things which sometimes made us happy, but sometimes also made us see how Mahatma Gandhi was almost a century ahead of his time. He said those very things but no one listened to him including ourselves. Today, Gandhi's voice is coming from different throats. He is no more. But the same voice is coming from different people who count, whose opinions count, who are trend-setters. If I read one of these comments and do not tell you who has said this, all will say this is Mahatma Gandhi himself. But this was said in the last two or three years of the 20th century. The exact words are:
''We allowed our wants to grow unchecked and are now at a loss where to direct them and with the obliging assistance of commercial enterprises, newer and yet newer wants are being created, being concocted, some of them are wholly artificial and we chase them en masse but find no fulfillment."
At least beyond 2005, I have no manner of doubt that this one sentence is going to assume enormous importance and relevance in India.
I want liberalisation to grow as a sturdy child; I look upon it almost with parental affection. But I know that when it was conceived, it was meant as a means to transform the society -- purely as a socio-political process than as a business policy or ploy.
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