Tuesday, July 31, 2012

DEMONS of INDIAN ECONOMY and GOVERNANCE

In spite of the wonderful opportunity knocking at the doors of Indian economy to catapult per capita income of India to a level at par with many of the prosperous countries as a result of huge technical and management resource, an awesome demography advantage coupled with an enormous demand for all kinds of consumer goods, infrastructure, housing and healthcare needs.Gods in the shape of global economic health and commodity prices are helpless in the current scenario and the various demons of Indian economy and governance are pulling it down  with all their might and the Indian government appears to be a moot hapless observer to the whole process. The various demons are described in the following paragraphs:
Politicians of all hues who are only clamouring for their own share of the  pie of national loot by providing oxygen to the sick government through their votes and support. Sharad Pawar, Ajit Singh, Mulayam Singh and Ms Mamta Banerjee are guilty of asking for plum ministries and huge packages for their states. In  normal parlance such activity  would be termed as blackmail. But strange are the ways of polity and they like to term it as politics. So much so every single vote owner, be it from the main ruling party or its supporting parties, has to be kept in good humour at the cost of good economics, good governance and good politics.
  • CORRUPTION and BLACK MONEY DEMONS 
    • Individuals including a vast majority of legislatures, members of executive machinery dealing in public works, procurement and inspection, excise and taxation, law enforcing agencies.
    • Realty sector including sale purchase, renting etc. and all businesses associated with construction, materials, fittings etc that go in a building.
    • Natural resource sector allocations: A few notable examples are spectrum, coal and iron ore, river bed quarries etc..
    • Tax avoidance by a vast majority of self employed professionals including architects, advocates, medical practitioners, businesses in the small and medium sector particularly in the auto parts, hotels, restaurants, Dhabas, sweets/confectionery, snacks, savouries producers and sellers to name only a few.
  • POLICY DICTATING DEMONS
    • Nuclear industry lobby
    • FDI in retail lobby
  • POLICY PARALYSIS DEMONS
  • BAD ECONOMICS and BAD GOVERNANCE
Good Economics and Good Governance is Ideal;
Bad Economics and Good Governance is A Compromise;
Bad Economics and Bad Governance is A Disaster;