India is moving in the same direction as the Bretton Woods Washington Consensus, following policies of austerity (FRBM laws capping government spending) and privatization (DIPPAM department for privatization), which are self-destructive.
factualpending
Speaker
Unidentified Speaker — Michael Hudson: Why the US has a unique place in the histor… [K9nbj4X556A]Evidence Quote
“there was a law that came up under the finance FRBM financial responsibility and budget management which was like bringing a cap on the amount of money to be spent by government and it's it's like an austerity and you know there is a there is now a department in the Ministry of Finance called as DIPPAM which is basically you know a department for privatization.”
Source
Michael Hudson: Why the US has a unique place in the history of imperialism? #Russia #US— India & Global LeftCreated: 8/10/2026, 10:46:20 PM
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