The whole nation is now on a high tide of electioneering and once the tide settles down, would we be left behind for solifidian sanctity of our political prudence or rise to the reality ? Lets hope we get a good government. And good governence must pay serious attention to many essential needs, especially of the poor, and above all, of women. Rapid economic growth has co-existed with grossly inadequate social services (education and health) and physical services (safe water, electricity, drainage, transportation and sanitation). Successful countries like Korea and China to argue that fast economic growth is not sustainable without strong development of human capital and essential infrastructure. India lags behind many countries at a similar level of development, and even behind poor Bangladesh. Rapid economic growth is crucial. Fast growth provides rising opportunities, jobs and incomes. Moreover, fast growth also produces revenues that can be used for essential social services and infrastructure that create more equality of opportunity for all — especially the poor and women. There is no trade-off between fast growth and human development: the two buttress one another. Red tape and senseless regulatory barriers that hit economic growth and benefit only the corrupt and powerful. Many sorts of regulations are indeed needed, but India is full of perverse ones. Populist subsidies that are not targeted at the poor should be denounced. By eliminating stupid subsidies and many unwarranted tax breaks, it will be quite feasible to finance subsidies and essential services for the poor, and will not entail populist financial excesses. Lets also hope we get a formula of strong measures to punish the anti-nationals and non-performers. .
Posted on: Sat, 15 Mar 2014 18:30:59 +0000
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