Abstract
This is the first of my series of talks as Guest Faculty of Kuvempu University, Shimoga, Karnataka. I begin with a sneak peak at the role that the Indian Govt plays in the business and economy of the country. I then trace the historical perspective, the history of Govt intervention in the economy, which has undergone considerable transformation from 1947, when India became independent, until today. The break came in 1991 when there was great turnaround and many changes were made. In the light of this historical background, I look individually at the different roles that the Govt plays, as regulator, promoter, entrepreneur, planner and partner. I close with an assessment of the achievements of the state, and the challenges that still remain to be overcome.
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