GDP and India Inc
GDP and India Inc
This refers to your edit “GDP vs. India Inc” (June 2). Your editorial has commented on the paradox of the disconnect between the GDP and India Inc’s earnings during the last 12 months. The period also coincides with the completion of Narendra Modi government at the Centre. The Modi government has been initiating incremental reforms. India Inc expected big-bang reforms instead of incremental reforms. But the government believed in damage control for the economy first and then bringing in reforms. India Inc’s expectations relating to the performance of the Modi government on economic reforms were, therefore, a little misplaced. There is another angle as to why India Inc’s earnings are not catching up with macro-data of the Indian economy. It is an open secret that there are millions and millions of rupees in unreported and unbilled transactions by several members of India Inc. The present government’s policies aim at transparency and full disclosures. A segment of India Inc is not happy with this situation. They have been finding it difficult to adjust to the new situation. The business environment under UPA-I and UPA-II regimes was conducive to the operators in black economy. It was some sort of a win-win situation to the then government and certain players of India Inc. These players would be wiped out if the present business environment continues for the next 10 years or so. Till such time, the Indian economy would experience the contradictions mentioned in the edit.
Meet aam aadmi’s expectations
The true measures of good governance are the changes that the citizens of a country feel. Though there were many good initiatives in the last one year, people still don’t feel the any change in day-to-day living. All reforms were mostly macro-level ones and the common man is still devoid of any benefit. Unemployment, power cuts, middlemen and crony capitalism still prevail. Farmers are in distress.Expectations of the common man have not been met. Apart from insurance and bank accounts, there doesn’t seem to be much gain for the average rural Indian. It is responsibility of the government to ensure that the benefits trickle down and the poor too feel like a partner in development.
Badal Jain , Jalgaon
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