Today, privatisation, consumerism and market-economy are the fashionable 'in things', and are no longer apologetic words among the dominant political ideologues in India. Nationalisation and public sector are out. Nehruvian socialism is an anathema, if not embarrassment. Until recently, however, 'socialism' formed the political ideology of the state policy. Politicians vied with one another in being 'socialistic'. Indira Gandhi's populist nationalization of major ...
