In this Financial Times article, Reuben Abraham, CEO and Senior Fellow at IDFC Institute, is quoted speaking on India's plans to build the world's largest statue, that of the 17th century Hindu warrior king Shivaji. Excerpts:
"'From an economic perspective, obviously it makes no sense at all,' said Reuben Abraham, head of the IDFC Institute, a think-tank. 'But the idea is to energise your political base.'
Complaints about supposed vanity projects go well beyond statuary. One of Mr Modi’s landmark initiatives as prime minister is a $15bn high-speed rail link between Mumbai and Gujarat’s industrial hub of Ahmedabad. Opponents have lambasted that project as benefiting a small number of rich business people, when India’s overall train network is struggling with slow speeds and a poor safety record..."
Read the whole article here.