"Wisdom stands at
the turn in the road and calls upon us publicly, but we consider it false and
despise its adherents."
— Khalil Gibran
(Lebanese, 1883-1931)
Word
for the day
Luciferous (adj)
Providing insight or enlightenment.
Malice
towards none
Let's hope with a BJP led
government in Manipur, would make Delhi people realize that Manipuri people are
very much Indians and deserve to be treated like that when they come to Delhi
for study or work.
First random
thought this morning
It is truly sickening to see that most senior journalist and so
called veteran political analysts continue to see the election results from the
prism of caste and religion.
Can't for a moment they assume that "youth, women, poor and
farmer" group encompasses most people from minority communities, dalits
and backwards also!
What could be the basis of their belief that a young woman MLA
from economically poor background will not adequately represent Dalit and
Muslim women?
Has anyone tried to report, how many youth, women, poor and
farmers contested on BJP ticket in UP and won?
The road ahead
The recently concluded assembly election results,
especially for the largest state of Uttar Pradesh, have triggered a number of
debates in the society.
On the political front, it is now
widely accepted, even by his most vocal adversary like former Finance Minister
P. Chidambaram, that the Prime Minister Modi has inarguably emerged as the
tallest political figure in the country. The UP and Manipur elections establish
that his area of influence is now all encompassing.
To that extent, it would be safe
to presume that the crisis of leadership with which we have struggled since
2004 is mostly resolved.
Most observers and commentators
are interpreting the current assembly election results to mean a rather long
period of policy continuity along with political stability, something we have
not seen in a long time.
This may motivate skeptics to
portend that we may see even more unconventional measures like abolition of 86%
currency notes.
But, at the same time, it gives
confidence that we may continue to see politically tough but economically
prudent decisions being taken and implemented. The case in point, total
decontrol of transportation fuel, gradual decontrol of cooking fuel and
rationalization of farm subsidies. Something, Indian politicians have
notoriously avoided to do in past.
From social viewpoint, the
apparent acceptance of PM Modi by large minority communities and socially
backward and most backward sections of the society (not traditional supporters
of his party) is an encouraging development.
One, it is likely to reduce
unnecessary friction in the society, allowing the government to focus on the
growth agenda.
Two, it shall increase the
pressure on the government to make growth more inclusive.
Three, it may help in repairing
the image of the Indian state in international arena; especially in light of
the adverse publicity it earned during the past three years on account of the
allegations of mistreatment of dalits and oppression of minority community.
The direct economic impact of the
emergence of PM Modi as undisputed leader of India, is still uncertain.
From macro economy viewpoint, PM
Modi's resolve to maintain fiscal discipline, avoid unproductive doles, and
making the growth deeper and broader should support macro and external
stability for Indian economy.
However, from micro viewpoint, we
may see significant disruption in many areas. The key things to be watched
would be (a) the form, pace and extent of wealth redistribution he is
promising; (b) how the needs for foreign capital & technology and protecting
the domestic businesses are balanced; (c) how the need to modernize and
organize the businesses is balanced with the need to promote labor intensive
small and cottage businesses; and (d) how the public sector investment is used
to catalyze the private investment.
...to continue tomorrow.
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