Shankar Acharya: Politics, priorities and policies | Business Standard Column

Shankar Acharya: Politics, priorities and policies | Business Standard Column

My VIEW:





Besides being a succinct inducement for NDA government to
run faster, if they are serious about remaining where they are even after  2019, the article also serves as a brief to
revisit economic reform priorities in the context of promises made by Modi
during the run up for Elections 2014 and the hope generated in the minds of
people after becoming Prime Minister.
It is time to forget the
‘trickling effect of wealth creation to alleviate poverty’ which may suit the
objectives of developed nations (which have enjoyed the fruits of industrial
and social development for more than a century) and think of management of
nation’s resources for ‘elimination of poverty’ and inclusive economic
development.
Besides slogans like ‘more jobs, less
inflation and better public services’, this will call for ground level reforms
which will be painful for  the rich and
the powerful who so far thought ‘Sab
Chalta Hai’ when they were confronted with issues like inefficient
management of resources, corruption and black money. This will also need
breaking of the public-private sector concepts and ensuring that nation’s
resources are managed for the benefit of the people of the country who are the
rightful owners of the resources. Reform priorities will have to be redefined
to the  extent necessary to put in place
a regulatory environment conducive to achieving this goal.





M G Warrier,
Thiruvananthapuram

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