The MIFC is the perspective of the Indian investor class. I have looked around and I cannot find who else other than the CII funded this committee and the report.Is financial deregulation worth the threat of financial instability and in turn social instability in a country that is prone to deadly riots? The author dismisses out of hand the repeated episodes of financial crises brought about by deregulation.Like in China, Indian politicians see the importance of political and social stability. They are ready to sacrifice the chance of growth on financial steroids for overall balanced growth and rightly so.
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