Interest rates hurting stock market culture in India: Experts
"This is something we need to be cognizant and careful about in a democracy. At times we blame the slowness in the economy on our democracy, but it is the democratic systems and institutions which ensure that the aspirations of our citizens are met.
"If the aspirations are not fulfilled and we do not provide the opportunities to our youth, then not only is it an unused asset but the accumulated unfilled aspirations can be a huge debt that we will have to service," he said.
Asked about the issues before Indian economy, MIT Sloan School of Management's Deputy Dean S P Kothari said leaders of the country need to introspect why India is given low rankings on various economic parameters by the agencies like the World Bank and UN.
"We should understand that they are not conspiring against India and if you see there is actually a good amount of goodwill out there for India. There is a lot that is going on in favour of India, but at the same time we need to understand that we need to change. We have to change quite dramatically," Kothari said.
Asked whether the delays caused by democratic processes are coming in way of India's growth on global stage, Kothari said that many countries have got democracies but they do not necessarily come in the way of conducting business.
"For example the
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