From the ringside: Stay the course

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New Delhi, Jul 29: Economic reforms over the past decade and a half have shown an India that was previously unknown to the rest of the world. In the last two years, India’s growth story has just got that much better with the economy clocking 9% GDP growth in consecutive years.

For N K Singh, who has been the in the centre of decision-making right through the years of liberalisation—ranging from the finance ministry, Planning Commission and even the Prime Minister’s Office, what he calls is being “in the ring” —”there is still a large unfinished agenda” for this reform-led growth story for it to be more widespread and sustainable.

In his book The Politics of Change: A Ringside View, a collection of articles written by him in The Indian Express and The Financial Express, Singh highlights the task ahead for the country in a rapidly changing economic and social landscape.

Over the years, “much has changed” but “much more needs to change” and it is these changes that are not easy, says Singh, but the important thing to be realized is that the country “must stay the course” and allow “the politics of change to be binding, and not a divisive, influence in realizing our untapped growth potential”.

Unlike the early and mid-90s, it’s no longer marketing the India story. “Everybody has bought that” says Singh, but now is the time to come out with innovative models and ideas and find localized solutions to problems faced in various part of the country that are yet receive the benefits from the trickle down effect.

While his book touches upon issues as wide-ranging from multilateral relations to energy and infrastructure development and very often pointing out what is lacking in the approach, N K Singh told The Indian Express that at our present stage of development, it is still surprising to find a maze of bureaucracy in the education sector—a key sector where reforms are critical to ensure furthering of the benefits of reforms—that puts the license-permit raj era to shame.

In sectors such as these, mere lip service will not do—much more needs to be done and that “it’s too early to declare victory” Singh said. In an era of coalition politics, Singh, in his book says, the “consensus mantra” should not be a device “for leadership to postpone decisions”. Rather “resolving contentious issues cannot be postponed if the lofty aim of 10% growth is to be realised”.