Indian institutions going down in quality: Chidambaram

August 25th, 2008 - 12:08 am ICT by IANS  

Chennai, Aug 24 (IANS) India has good institutions but their quality is going down, Finance Minister P. Chidambaram said here Sunday.”We have high quality educational institutions but have poor quality teachers. There is a strong Election Commission but criminals contest the elections. The country has well qualified judiciary but corruption is seeping into its ranks, and even the free press has now become politically biased,” he said.

He was speaking at the launch of the book “India’s Turn: Understanding the Economic Transformation” by Arvind Subramanian, senior fellow of the Peterson Institute for International Economics, Washington.

Subramanian said the Indian economy started growing from the early 1980s and is set to grow seven percent a year.

C. Rangarajan, MP and chairman of the Madras School of Economics, said the growth rate can be sustained and a nine percent growth is possible.

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