As suggested yesterday, the Nehruvian model of industry led
growth has mostly failed in evolving a strong structural base for the Indian
economy in past more than 6 decades. Consequently, we still continue to be an
economy largely dependent on labor & resource arbitrage and trading. We
have failed in making significant progress in the areas such as technological
advancement, productivity gains, innovation and localization.
In our view, we have focused too much on our weaknesses and
tried hard to overcome by importing technology, energy, intellectual property,
capital and consumption patterns. We have thus failed in exploiting our
strengths and allowed outflow of precious resources both natural and human.
We can hope the things to change in any substantial manner
only if material corrections are made to the current economic model. Narendra
Modi has indeed raised hopes. A mission scale program to reverse the flow of
trade to pre British era is what we need to ensure inclusive, equitable,
sustainable and faster economic growth
The following 20 point program could help to achieve the
objective by 2020.
1.
Overhaul education system to make it job
oriented. Inculcate enterprising skills in students from primary level.
2.
Skill youth.
3.
Promote co-operation movement in industry.
4.
Enhance agro productivity to highest level.
Promote collective and commercial farming.
5.
Enforce energy efficiency.
6.
Make at least 5 global education clusters by
creating special zones.
7.
Make at least 5 world class international
tourism centers.
8.
Stop river waters from flowing into sea.
9.
Give equity in natural resources to local
population.
10.
Transform RTE into “Right to equal and uniform
education”.
11.
Minimize the size of central and state
governments.
12.
Devolve powers to Panchayti Raj Institutions.
13.
Reform police force.
14.
Declare sports an industry.
15.
Invest in conservation of Indian culture and
traditions.
16.
Enforce fiscal discipline legally and
constitutionally.
17.
Make public offices unremunerative by stripping
most discretion.
18.
Implement electoral reforms, especially state
funding of elections.
19.
Introduce inheritance tax.
20 Introduce GST,
abolish octroi and entry tax, abolish toll on less than 6 lane roads and
highways.
Thought for the day
“We have two American flags always: one for the rich and one for the poor. When the rich fly it means that things are under control; when the poor fly it means danger, revolution, anarchy.”
Henry Miller (American, 1891-1980)
Word of the day
Esse (n)
Being; Existence.
(Source: Dictionary.com)
Shri Nārada Uvāca
What is worse – “economical truth” or “extravagant truth”?
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