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Budget 2021: An Import Substitution Relapse?

Modiji’s foreign trade policy looks ever more like that of Panditji and his daughter, writes Raj Bhala.

Jawaharlal Nehru and Indira Gandhi touring Disneyland, Anaheim, California, on Nov. 13, 1961. (Photograph: UCLA Library/LA Times)
Jawaharlal Nehru and Indira Gandhi touring Disneyland, Anaheim, California, on Nov. 13, 1961. (Photograph: UCLA Library/LA Times)
Plus ça change, plus c’est la même chose. (‘The more things change, the more they stay the same.’) This epigram, coined by Jean-Baptiste Alphonse Karr, Editor of Le Figaro, in 1848-49, is such a cliché it should be avoided. Except when it’s unavoidable.
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