Licence Raj

Why the death of the Ambassador car and the licence raj is good news

In a way, the death of the Ambassador (it’s not officially dead, but it seems imminent) underlines the distance that India has travelled in the past three decades –and the vice-like grip that the beneficiaries of the infamous licence raj and crony capitalism once had on Indian consumers.

Why cronyism peaked during UPA, and why it may now be in remission

Crony capitalism is the inevitable fallout of an endlessly expanding state - especially a state that is weak and lacks authority. But state bankruptcy may be helping reverse this trend