Bikash Choudhury
Prime Minister Man Mohan Singh is blatantly misleading the
Nation on Economy; as an ace economist himself must know that at this stage
Indian economy could get much worse, before it could get better as all the
vital parameters of the patient in the ICU points towards looming disaster.
But, the Prime Minister is constrained to hide facts about his own gross
incompetence in managing the Governance of the Country which is one of the
principal reasons for disastrous economic performance of the Nation. First of
all, he was chosen for the position as he was the politically light weight and
even failed to secure his own parliamentary election from Delhi ;
which suits the political leadership of the Congress Party. However, of late
senior leader Digvijaya Singh aired his views in public “the dual centre of
power is not working”; wily politician that he is can’t be more right. At the
moment Cabinet Colleagues and the Council of Ministers have lost complete faith
on the Prime Minister and Top Bureaucracy lost confidence on the Govt.
therefore the decision making apparatus of union Govt. has gone into limbo
which is reflected in sliding investor’s confidence and deepening exchange
value of the rupee against US Dollar. The bravado of Prime Minister in
Parliament that economy could return to growth in the next quarter is much like
astrologer’s prediction and not based on facts. The strength of any economy
represents the ‘intensity of human activity’ in the country;
when, the Govt. being one of the principal actors of the economy in Limbo with
Policy paralysis; where and how the growth momentum would return to the economy
in the next quarter? However, intensity of human activity at the present
juncture could be restored in large measure by going for snap general election
by the end of the year which could save the economy partially. The other
important step that our Prime Minister could take is to order all his
ministries, more specifically the infrastructure related departments to burn
the midnight oil to clear all asset creating projects through a high powered
standing committee that sits every day to clear projects and monitor the
implementation with existing and unspent budget provisions; subsequently, PM
could get the Chief Minister of States to do the same in their domain to revive
the growth sentiment; while persuade private sector to earmark 1% of profits in
Innovation & Entrepreneurship inside their own organizations to create new
value propositions and help create a robust environment for economic growth.
Further, Govt. could take up the development of civic amenities in four metros,
give emphasis on value added Agriculture through organic farming, converting
the organic waste into compost in urban areas with the help of fertilizer
companies, give fresh impetus to Ganga Action Plan to make it navigation ready
and reviving the In land river highways and coastal navigation to cut logistic
cost. If prime minister him self can’t travel and connect with young India
in university campuses; at least he could depute young and articulate ministers
to galvanize students behind Nation building. PM could even appeal to
Non-Resident Indians to organize and contribute resources, technology and
management depth for large public projects. Adam Smith in his “Wealth of
Nations” emphasized on division of labor and specialization for opulence of
Nation States. Therefore, India
could rely on its old civilization and rich art, craft, culture, handicraft,
literature, traditions, food and textiles to export with American style
branding and distribution to generate wealth for the country in the long run.
Twitter: @ideasofhope Blog: www.ideasofhopebikash.blogspot.com
E-mail:streben.market@gmail.com
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