>>212353679
This is why ML>Fabian Socialism. Fabian socialism was meant to be a bandaid for rich countries and it eventually succumbs to neoliberalism like it did in Britain. But for a poor country to pursue fabian socialism with an already weak economic base, well that's putting the cart before the horse. You end up with an entrenched bureaucratic state, excessive red tape, and once market reforms are introduced, a plutocracy where famalies like Adani have immense power over the state. Meanwhile, the political system remains sluggish and prone to legislative gridlock that lags behind the pace of ecomomic change.