Thursday, April 18, 2013


The whole world recognises the potential of India to become a global economic superpower in the next few decades 
  • in the light of availability of global opportunities arising out of the problems being faced by today's economic giants because of 
  1. Unsuitable demography
  2. Improper mix of human resource
  3. Extremely high wage structure not in sync with the commercial aspects of all industrial activity.
  4. Over spending on social security and welfare schemes
  5. Need to replace current nearly obsolescent technologies with newer revolutionary technologies in the fields of energy security, logistics and transport incurring huge replacement costs. 
  6. And above all, depletion of conventional natural resource reserves which have been the strength of twentieth century industrial revolution.
India is most favorably placed as far the demography, human resource and wage structure are concerned. The other irritants can be taken care of with a judicious proportioning of expenditure on welfare schemes and industrial productivity. But strangely enough no big results are either forth coming or appear to be forthcoming in future. Aptly one is forced into asking, ' What ails India' and it is not very hard to find out the answer to this. The following come to one's mind if you try to dwell on this subject.

  • Lack of Vision and far sight: In the history of independent India, the vision and far sight were seen only during two periods, firstly during Nehru's times in the fifties and sixties of the last century covering the first three five year plans and  secondly during the time of Vajpai. After Nehru's era India went into a period of what has been described as a plan holiday by several analysts and a similar condition has perhaps developed during the last ten years also. During these periods the Indian leaders have only concentrated on hollow promises, vote catching gimmicks and rhetoric and worst still all government decisions seem to be motivated by politics and corrupt governance. The decisions on two main pillars of any booming economy i.e. the energy security and natural resource management neither show any vision nor any concern for the poor citizenry of this country. When the whole world seems to be moving towards renewable energy sources for ultimate, ever lasting, and relatively inexpensive energy security, India is lagging behind and is perhaps is being guided by national and international cartels of industry, nations and even scientific and technological power centres. Indian geographical and habitation scenario is perhaps most suited to Energy security with solar and wind energy but is perhaps not being pursued because these energy sources are not owned by any cartel or any power centre or any lobby. Water resource management has suffered because of this lack of vision, so much so that a country bestowed with abundant water from perennial rivers, a lot of rainfall is in the danger of a water crisis with ground water tables moving deeper and deeper. On one hand every year floods cause huge loss to agriculture and property while on the other millions suffer because of famines occur as a result of severe drought in many parts of the country.
  • The lack of governance is the other major ailment that is pulling down India. In fact Indian government is a government sans governance. One is astonished to hear from the government that India neither has proper laws to fight crime, bribery, corruption etc. nor has the requisite infrastructure for quick disposal of law cases.The government seems to be a mere informer to the nation and takes pride in that. Who will find solution to these ailments is not known? Day in day out the country is made to understand that no individual or leader alone can fight these maladies and that the people have to become honest and responsible. If that happens by any miracle will the country need these rulers to waste national kitty on them, a vast majority out of them are   goons and buffoons who are ruling/ruining India. A reminder to the ruling class of the country
Good Economics and Good Governance is Ideal
Bad Economics and Good Governance is A Compromise
Good Economics and Bad Governance is Undesirable
Bad Economics and Bad/Corrupt Governance is A Disaster
  • The irony of Indian situation is that India has embraced the last of the above four options with utter disregard to the quantum of doles, freebies, subsidies and administrative expenditure an economy can sustain. As if that were not enough every action of government with regard to natural resources like minerals, water, spectrum, land etc. is meant to be to the detriment of the nation and benefit of polity, powerful bureaucrats, industrialists and their stooges and cronies. So much so that India has  ignominiously earned for itself the epithet of A land of scams.