Saturday, 7 January 2012

India - Road to economic recovery and revival of growth

The Congress nay, let's say the ruling party is today faced with the not so envious task, of pulling the country back to the road of economic recovery. At the same time it has to keep the opposition at bay, as well as fight with corruption within its own ranks. Very few would disagree with me, if I say that the topmost priority of the government today, is  economic recovery, and growth of goods and services. Making laws apart, creating a healthy climate for investment in and outside the country is very essential if we have to sustain and grow as an economic power. While countries the world over are taking concrete steps to build their economic status, most of them are going in for a complete makeover so that it would make them an attractive destination for foreign investment, our country, it seems is being pulled down by our own so-called nationalists. I've written earlier also, that the Government needs to be given a free hand so far as framing and implementation of economic policies are concerned. Petty politics should not be allowed to rule the destiny of the country. Everyone would agree that the present Prime Minister is an economist first, and a politician later. Let the economist in him take over, and give him all the support needed, in order to let him implement the economic programmes and policies, which he has planned for the country.

For the first time we have seen that economic progress has slackened, the rupee has taken a beating, manufacturing process has gone down, and foreign investment is at a standstill. The government in its wisdom has the capability and capacity to stem this rot, provided the entire opposition puts its weight behind the government and speaks in one voice. The opposition should also realize that when it comes to the country's progress, and its own progress, the former should prevail and their own growth should not be at the cost of the country's growth. The kind of leadership which they are seeking to provide now at this critical juncture, will ultimately decide the future of the opposition also. People are watching carefully the conduct of the ruling party, but at the same time they are equally carefully watching the role of the opposition. Let no one be mistaken that the sins of today which the opposition commits, by paralyzing the country, will be forgotten by the electorate tomorrow. They will come back in full force to haunt them tomorrow.

The country needs to take urgent decisions, like bringing in and implementing laws and policies which build certain amount of confidence in investors abroad as well as the industrialists of the country. Be it Ratan Tata, Ambani brothers, or a person like Rahul Bajaj, have all come out in one voice, urging the ruling party to act, and to be seen to be working for an economic revival. The United States of America, in spite of severe economic depression and other related problems, has been able to create two lakh new jobs in the month of December 2011, and has brought down its rate of unemployment to 8.5%. This shows that countries the world over, including the superpowers are working overtime, to solve the problems facing the common man today. If the common man is happy and feels contended, the country's growth is more or less guaranteed. India today, is also faced with the massive growth of population. This in turn negatives the effect of the growth which the government tries to implement. Nothing can be done about that today, except to make the people understand that besides population, the country needs to grow economically strong also. At the outset of 2012, I had expressed optimism that a messiah would rise from the ashes to lead the country forward, and rule with an iron hand, not that of a dictator, but that of a person who knows the requirements of the country and commands the respect of the people to help him fulfill that dream. I have not given up on that hope, and whether that messiah is around the corner or not, the country needs to progress fast, and there can be no compromise on that. Hope the government wakes up to this reality, and as they have been able to sort out the problem of Anna and his team, they will be able to bring the country out from the doldrums of economic misery and bring it back to its rightful path of economic revival and growth. Cheers!

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