The story of India somewhat has shown downward slides in the recent past.The surging economy of over 8% GDP faced a sudden backlash as policy paralysis gripped the centrestage with a somewhat Quasi blind executive lacking the clue or assertion to forbid the rotten egg.The lets go back to the control era type of caricature under Pranab influenced the country to an extent where the dwindling economy jumped into the ICU.
The retrospective taxation hit the bull’s eye as investors started to loose faith in the mechanism of Indian polity and scope towards investing large sum of foreign currency in a liberalized India.The close shove being the fact that Pranab was soon shifted to Raisina Hills and the incumbent home minister Chidambaram taking charge.Noted counsel,Harish Salve jumped into shoddy waters to protest against the retrospective taxation issue.
Harish said,‘If somebody today asks me whether to invest in India or not,I would say don’t”.Unfortunately,the top corporate honchos and bigwigs lacked such a composure or bravado to share the view.The corporates are always most unwilling to irk the Government of the day.The reason? Well,not too hard to guess,I guess!An Outlook report corrctly suggested the tone of appreciation always garlanded at the Finance Minister after the budget every year.
But the turn that the Indian economy taken post 2014 elections has been smoky but a thousand leaps ahead of the previous regime.You can feel a sense of thrill,when India today again is being presented in the word stage as a power of the present.The Modi charisma or enigma,whatever monologue one prefers to select, has given fantastic dividends in the first year of achche din.
Dalal Street and BSE-35 have again refunded the faith lost in the last part of 21st Century’s first decade.But somehow the revised GDP with added features according to a recent report paints the UPA economy with better colours than what it was thought out to be.The economic growth was perhaps 6.9% and not 4.9% as it was referred to be.Well,one can of course adjust such report with what MMS said in January last year.
Manmohan said, that History would judge him better than contemporary anaysts and commentators.The perception of the reawakening of the Indian growth has to be accorded to the present Government’s steps of no nonsense(excluding Godse sycophants like Sakshi Maharaj and Yogi Adityanath) and rapid application of rules requiired to boost up the financial progress.
The rewarding faith and belief in the present Government will only be encashed if the rich discrimination between the agricultural and the industrial economy be bridged on the first hand.India has been sharply demarcated between the east and west-between agriculture and industry.The two somewhat subverted economies can play somewhat a complementary role with agriculture still being the dominant factor.
Mechanisation of agriculture though not free from flaws,has a more positive influence from a retarded effect.An aspirational middle class is looking at the prospects of better employment.So a surging economy with an inclusive approach(to quote the Congress word) has the capacity to give a party rich electoral gains.Hence,politically,socially,rationally and not to mention financially,economy has a long lasting fragnence.To partially quote Surjeet Bhalla,its the economy stupid! which shapes today and tomorrow!