Policy matters

Crony capitalism and state capture

Print edition : March 21, 2014

Finance Minister P. Chidambaram with industry representatives at a pre-Budget meeting at North Block in New Delhi in January 2013. Photo: Shanker Chakravarty

If business groups in post-Independence years drew their strength from their ability to circumvent state policy and the state’s failure to discipline them, big business’ rise in neoliberal times is marked by the nexus between the state and private capital.
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