In response to the Prime Minister’s comment some time back that money did not grow on trees, Narendra Modi recently said that“money can be grown even on farms and factories under the right leadership”During the Zee Business India’s Best Market Analysts Award event Narendra Modi said that the farmers and the laborers of our country could grow money on their farms and factories if there was the Right leadership in the Country that was capable of better serving our Economy. Mr. Modi also had this to say :When I was sworn in as the new chief minister of Gujarat the state had a deficit of Rs. 6700 crores but now it sees a surplus revenue. The electricity department used to run at a loss of Rs. 2500 yearly now the department is getting a profit and provides electricity regularly without increasing the tariff.India can regain what was lost the only thing required is to make right decisions and to put power in the right hands.What Experts feel on India’s Economic Growth“As recently as 2006, when I first visited India and China, the economic race was on, with heavy bets being placed on which one would win the developing world sweepstakes,” the chairman of Willett Advisors LLC, Steven Rattener writes and adds “Now the contest is emphatically over. China has lunged into the 21st century, while India is still lurching toward it.”“The Reserve Bank’s actions have failed to control currency volatility,” said Partha Bhattacharya, deputy chief executive, Mecklai Financial.According to Arvind Panagariya professor of economics at New York’s Columbia University,” If a political opportunity occurs to open the door to FDI wider, we should make use of it. But corruption and hyperactive environment ministers in the current government have added to the paralysis.”Our ViewFor the Indian Economy to recover we will need among other things :Fast Track Clearance of projects to keep the economic recovery goingInfrastructures building at a much faster paceReforms need to take place with a long term perspectiveAbove all else of course is the need for the right kind of Leadership that is capable of making the kind of decisions our Economic Recovery demands. Mr. Modi also had this to say :When I was sworn in as the new chief minister of Gujarat the state had a deficit of Rs. 6700 crores but now it sees a surplus revenue. The electricity department used to run at a loss of Rs. 2500 yearly now the department is getting a profit and provides electricity regularly without increasing the tariff.India can regain what was lost the only thing required is to make right decisions and to put power in the right hands.What Experts feel on India’s Economic Growth“As recently as 2006, when I first visited India and China, the economic race was on, with heavy bets being placed on which one would win the developing world sweepstakes,” the chairman of Willett Advisors LLC, Steven Rattener writes and adds “Now the contest is emphatically over. China has lunged into the 21st century, while India is still lurching toward it.”“The Reserve Bank’s actions have failed to control currency volatility,” said Partha Bhattacharya, deputy chief executive, Mecklai Financial.According to Arvind Panagariya professor of economics at New York’s Columbia University,” If a political opportunity occurs to open the door to FDI wider, we should make use of it. But corruption and hyperactive environment ministers in the current government have added to the paralysis.”Our ViewFor the Indian Economy to recover we will need among other things :Fast Track Clearance of projects to keep the economic recovery goingInfrastructures building at a much faster paceReforms need to take place with a long term perspectiveAbove all else of course is the need for the right kind of Leadership that is capable of making the kind of decisions our Economic Recovery demands.
Posted on: Sat, 17 Aug 2013 04:12:10 +0000
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