Economic Governance and the Wheels of Justice

Economic development results from an inter-play amongst four factors of production being (i) labour (ii) land (with underlying minerals and natural resources) (iii) capital and (iv) entrepreneurship. Over the last few decades India has seen increased private participation including foreign investment in developing, operating and maintaining infrastructure facilities and utilities. With the challenges of distributive justice in an unequal world this phenomenon has tested the boundaries of balance between growth, entrepreneurship, social justice and welfare; particularly in the face of unpredictable divergence of views amongst the legislature, executive and the judiciary on issues related to policy choices governing natural resources, infrastructure and capital.

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