Thought for
the day
“Continuous effort - not strength or intelligence - is the
key to unlocking our potential.”
-Winston Churchill(English, 1874-1965)
Word of the
day
Ashen (adj)
Extremely pale; drained of color;
Extremely pale; drained of color;
(Source: Dictionary.com)
Shri Nārada Uvāca
What are the top concerns of the country today? Rank these
on the basis of media coverage:
1.
Gutthi
2.
Tarun Tejpal
3.
Talwar couple
4.
Snooping in Gujarat
5.
Asaram and his son
6.
Shruti Hasan’s stalking
7.
Vegetable prices
8.
5 State elections
9.
Corruption
10.
Unemployment
Great hopes - II
Based on our intense discussion with some investors, fund
managers, businessmen, farmers, bureaucrats, and young students we found that
the people may in general be expecting the following from Modi, should he
become the next prime minister of India. Surprisingly, the expectations from
Rahul Gandhi are no different, but few believed that he could become prime
minister.
(a)
Modi will provide a clean, responsive and
business/investment friendly administration.
(b)
Modi will provide a proactive administration.
(c)
Modi will ensure higher economic growth and
lower inflation.
(d)
Modi will provide an accountable and responsible
administration and protect bureaucracy for their bona fide actions.
(e)
Modi will help eliminating corruption from
public life.
Unfortunately, no one could produce an iota of substantive
evidence that would suggest that Modi is competent enough to meet their
expectations. The only argument in the support of Modi is the media coverage
mostly fed by BJP itself. We got further confirmation to our earlier
finding that the traditional Indian belief of divine intervention at the
time of crisis is playing in his favor. Modi is being seen as divine
intervention that will get India rid of the current social, political, and
economic crisis.
In our view, Modi does appear assertive and has shown tendency
to take quick decisions in economic administration matters. A few quick
decisions could boost the sagging business sentiment and help kick start the
stalled investment cycle. Fortunately, many other things are already falling in
place and would work in his favor.
In our view, the following positives could emerge if Narendra
Modi gets to lead the next government with a clear mandate:
(a)
Business
and investor confidence may recover on the hopes that policy making will be
proactive, business friendly, consistent and faster.
(b)
Important economic and financial legislations
like GST, DTC, Insurance and Pension Bills etc. may get cleared in FY15 itself.
(c)
Important administrative reforms are implemented
to uplift the morale of bureaucracy. This is expected to expedite the project
execution.
Besides, the macroeconomic environment may also begin to improve
on its own as core inflation and therefore rates bottom out, and consumer
demand recover post good Rabi harvest.
This best case scenario is however not free from risks. In fact
there are significant risks to this view.
…to continue
Also read:
Letter to Mr. Narendra Modi
No comments:
Post a Comment