Misgovernance is a major threat

     While I am bullish on the fundamentals of the Indian economy, I consider misgovernance is a major threat to India's growth.
   
    Of late Indian cabinet ministers are giving contradictory statements on foreign policy towards China, interior policy towards Naxalite movement, towards 'Khap panchayat' ( rural local government bodies). TRAI, the telecom regulator is issuing new guidelines that go against the very fundamentals of business practices. RIL and RNRL dispute is decided by the Supreme Court but as yet there is no higher policy towards energy security in India. Our media debates IPL controversies more than the rise in food prices, impropriety of powerful politicos holding offices of profit, delayed justice and deteriorating law and order in many states.

    We need systems that reach out to the common man, care for his/her needs, provide healthy food, potable water, secure shelter, medical support and education to the poor. This is inclusive growth. For this to happen our leadership must focus on governance. Opposition should not stall parliamentary proceedings, should not stage a walk out when 'Civil Nuclear Liability ' bill is introduced. There is a need to have healthy debates, politics of cooperation, not of appeasement.

    Being an optimist, I feel these issues would be settled and we shall move forward. Whatever that be, in my opinion these remain the main threats to Indian economy. The only way to bring in accountability in our
politicians is to bring in electoral reforms. I shall be writing about it in my next post.

   rgds
   Vibhas