One of the stories doing the rounds after the elections is about the end of entitlement. We are no longer willing to reward privilege, instead appreciating hard work, it says. The economic reforms of this government must draw from this lesson. It is so badly needed in the Indian debt markets.
We have an entrenched system of entitlement. It has been allowed to so fester that the much-needed efficient market for credit that benefits all requires deep reform. It will need a lot of courage ..
