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Arvind Kejriwal seems to be trying to assuage people who fear he will turn the clock back on economic policy.

The AAP leader has stated that he is opposed to crony capitalism rather than capitalism in general. He said he admires honest businessmen such as N.R. Narayana Murthy and Azim Premji; his fight is against those like Mukesh Ambani who he alleges corrupt the system. He also believes the government should not be in the business of business.

Kejriwal should now clarify what policies he thinks will undercut crony capitalism in India. Is it another layer of bureaucracy to oversee companies? That is the essence of his fight for a Lokpal. Or, is it a framework for rule-based economic policies, competitive markets, easier entry for new companies, independent regulators for natural monopolies, sanctity of contracts and overall policy stability?

If it is the latter, then Kejriwal should come out in support of liberal economic reforms.

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