https://www.taxtmi.com/news?id=22443 Promoting pro-business policy to strengthen competitive markets is essential for wealth creation through market dynamism and creative destruction. Post 1991 liberalisation increased firm churn, diversified sectoral composition and fostered innovation, while pro-crony policies-manifest in discretionary allocation of resources and crony lending-erode value by enabling rent seeking and wilful default. Shifting to market based allocation and addressing crony lending reduces rent extraction, lowers borrowing costs distortions, and supports productive investment and employment. en-us Fri, 31 Jan 2020 14:31:56 +0530 Fri, 31 Jan 2020 14:31:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=22443 Promoting pro-business policy to strengthen competitive markets is essential for wealth creation through market dynamism and creative destruction. Post 1991 liberalisation increased firm churn, diversified sectoral composition and fostered innovation, while pro-crony policies-manifest in discretionary allocation of resources and crony lending-erode value by enabling rent seeking and wilful default. Shifting to market based allocation and addressing crony lending reduces rent extraction, lowers borrowing costs distortions, and supports productive investment and employment. News - Fri, 31 Jan 2020 14:31:56 +0530 https://www.taxtmi.com/news?id=22443