Wednesday, May 30, 2012


India   is  at  the  thresh  hold  of  a  huge  step forward to become one of the economic super powers of  21st century and the opportunity is there for the taking  if and only if the country's rulers and planners put their best foot forward rather than  moaning and groaning  about  the financial problems faced by world  in  general and the developed economies in particular. In fact if there were no problems in the developed economies of this globe this much talked about opportunity  window   would  not   have been available to India in spite of huge technical and management  human  resource,  an  awesome demography  advantage   coupled   with   an enormous demand for all kind of consumer goods, infrastructure, housing and healthcare needs even if one talks about extending  the benefits of development to a level of reasonably good living as per the European standards to the 1 billion plus population of the country. Add to this the need and inner desire on the part of all nations to shift over to renewable energy sources for energy security because of global environmental concerns and finite nature of all fuel based energy.
The Indian polity and planners must understand that prosperity and global leadership is something that they have to strive for and no other country of this globe will help them achieve this by jeopardising their own global leadership status.After all it is not wrong to presume that leaders of western economies shall work in the best interest of their own countries and economies and leaders of countries like India who are looking up to them for their salvation will end up with crumbs only.
Let Indian polity not wait for the improvements in global economic scene and work single-mindedly on problems that are dragging Indian growth. The two main present problems of Indian economy i.e. the inflation and rupee depreciation are both interlinked and require stringent and harsh measures on many fronts and cannot be sorted out with patchy controls by Reserve Bank of India (RBI). This has been seen in the case of efforts to rein in inflation through rate increases by RBI and the results are there for every one to see. The inflation menace has resurfaced after a small time correction and the negative effect on growth as surfaced with a big bang. Similarly, the efforts to control rupee depreciation has not lasted beyond a couple of days even. The real answer to both these problems lies in a path guided by good economics, governance and increase in productivity with politics taking a back seat for some time. If the fiscal deficit and current account deficit are managed well through austerity measures, control on imports, wise pruning of the Indian budget, corruption mitigation and management of energy resources through governance, ( India calling for nationalistic polity) the retrograde effects of policy paralysis could take the back seat.
Let the country understand that big dreams are realised through hard work,dedication and sincerity of purpose and not through mere wishful thinking and vote catching rhetoric as is being done by Indian polity at large. Otherwise the Indian dream and chance to become world leaders will end up in fiasco.It is now or never. Let us not waste this God sent opportunity.