Moody's thumbs up for Modi's policies | Business Standard News

Moody's thumbs up for Modi's policies | Business Standard News

My VIEW:

India is a victim of
foreign domination even today when it comes to assessment of the country’s
self-esteem. It is comforting to see that a change in approach in Delhi through
various initiatives including the effort to promote slogans like ‘Make in
India’ acceptance of the need for infusing professionalism in governance and better
financial sector management have started yielding results.
But, it is agonising to
see the dependence of the Indian elite which waits for a Prime Minister to
speak from the ramparts of Red Fort to take cleanliness and toilet facilities
for all seriously or to move forward in the direction of indigenous minting of
coins or producing quality paper and  ink
inside India for printing currency notes. Successive RBI Governors have
expressed their concern about reliable current data to base their policy
decisions. These are areas where perceptible improvements can be made without
‘huge’ financial investment.
Now that NITI Aayog has
relatively less responsibilities, this body could be entrusted with the task of
making the existing organisations responsible for compilation of statistics and
rating the country in relation to other countries with reference to different
parameters factoring in purchase power parity and aggregate resources
availability and institutions like banks using internationally acceptable
standards. If existing organisations are irreparably incompetent, new ones
should replace them fast.


M
G Warrier, Thiruvananthapuram

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