Wednesday, May 31, 2006

Can India achieve a growth percentage of 12%?

This is an article written by one of my friends. I am posting this after the commies expressed thier displeasure at the government's proposal of hiking fuel prices today. If the fuel rates stay the same, our oil companies will lose a huge amount of money. The daily loss of these oil companies is pegged at Rs 100 crores a day(guessing!!).

Happy reading.

The Indian GDP growth of 8.1% is ok, but the problem is we, as Indians seem to be satisfied with this growth, the problem lies there. India should be looking at a growth rate of 10-12% which can very much be achieved. Firstly we have to remember the reason why India never grew well in the 1st 40 yrs after independence, was our problem of being satisfied with whatever we had. As the saying goes only a crying baby gets milk. The people of India should be like the crying baby that needs to ask more from our politicians and bureaucrats. It is quite an achievement that India is growing at 8.1% but that doesn’t mean we should fall back on our laurels and let complacency creep in.8.1% is a good start but we should also remember that it is only a start and to reach the goal of 10-12% GDP Growth a lot more needs to done. Firstly we have to move faster on our Economic Reforms process. We should not only open up the retail sector for Foreign Direct Investment but also raise the FDI caps in the Insurance and banking sectors. We should also reduce agricultural subsidies and slowly start opening up our agriculture sector to foreign players. The opening up of retail, insurance and banking sectors would not only generate huge levels of employment, but also improve competition among Indian businesses, thus leading to a Win-Win situation where both the consumer benefit and also make Indian business more competent in the global market. The Indian businessmen are no more skeptical about global competition in fact it has made him more confidant about the global arena and thus giving rise to Indian Multinationals like Infosys, Wipro, Tatas and Reliance Industries. But there are problems we face.1.lack of political will & 2.infrastructure problems. But when we look at the brighter side, at least there seems to be an affirmative political consensus towards economic reforms except for the Left Parties. The Left parties seem to be the biggest stumbling block towards a robust GDP growth, and we shouldn’t take the Left parties lightly. They may use any trick up their sleeve to derail India and its path to progress thus take us back to the days prior liberalization. The only way to get rid of the threat of the left parties is to crush them out of the Indian political system and not ally with them for short-term political gains. The present UPA in this context has made one of the biggest political blunders by allying with the Left. The Left parties have their own agenda that can be very dangerous for the Country. Remember the Left parties have never had a nationalistic sentiment and to put it mildly are in fact the biggest Anti-Nationals in India. If we rewind back to the 1962 Indo-China War it is a well know truth that the Left Parties supported China during the War. These Anti-Nationals (The Communists) again would like to derail India’s dreams using their antiqued ideology, which has been put to rest forever by 95% of the countries all over the world. The Communists Parties talk about the poor but have never done anything for the poor, except for harping about land reforms which they had done 25yrs which itself has become an antiqued subject to talk about, they are just a party of big slogans and small minds who are not really interested about the poor or their needs but are more interested about propagating Marx and his needs to our illiterate poor. It is time the people of India put their foot down against these Devils in Saints clothing. In fact the Communists use the name of the people for everything they do, thus indirectly putting the blame on the people of India for all their ills of an antiqued ideology. The communists are people who should be slapped on their faces for not doing anything in their heartland of Bengal. Unfortunately they have rigged the elections in Bengal ever since they came to power there. Pity the people of Bengal the communists rule them in their name even if they wouldn’t want to be ruled by these low lives.


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