Académique Documents
Professionnel Documents
Culture Documents
me/TheHindu_Zone_official
EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
THE HINDU
FRIDAY, JUNE 1, 2018
NOIDA/DELHI
EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
EEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEEE
OPED 9
YES, NO, IT’S COMPLICATED
NO
All our institutions have been compromised alone won’t do justice.
What has set India apart
ment has failed the coun
try. The Election Com
mittees. Parliamentary scrutiny of
legislation is also compromised. A
important structural recommenda
tions of the Justice Verma Commit
under this government is the way we uphold mission, the Governor’s closer look at policymaking under tee still await implementation. The
our Constitution and offi ce, the Reserve Bank this government reveals that while government claims to have the
h
Te 2014 election was no ordinary performance of the government on how those who don’t are of India, the courts and the government boasts of its brute maximum number of women in its
election. A single man travelled the all these issues has been poor. Fur made accountable, how journalists are all an inte majority, it has failed to usher in the Cabinet but in a country that has
length and breadth of the country thermore, communalisation has our parliamentary de gral part of a system that real game changers. It has no answ had a woman Prime Minister early
telling the people that the time had become an inherent part of the go mocracy works in favour is based on checks and ers to why in four years, and des on in its democratic history, is this
come to do things diff erently. He vernment’s rhetoric and is resorted of allowing all possible opposition, balances and keeps the government pite the government’s majority, In really a milestone to be celebrated?
held his opponents responsible for to before every election even as all how our judiciary can fearlessly accountable. All our institutions dia still awaits its biggest social and Everything for this government
Sushmita Dev the state of the nation and played to the other issues of the 2014 cam strike down legislation ultra vires of have been compromised during the political reform in the form of the is rooted in tokenism and photo
is a Congress MP from the gallery. Corruption, crime, paign have become nonissues. the Constitution, and how the tenure of this government. Women’s Reservation Bill. The go ops. It is about what makes Naren
Assam jobs, economy, fuel prices, farmers fourth pillar of our democracy vernment’s narrative on women’s dra Modi and the BJP look good.
— everything was an issue. And how What sets India apart functions not just as a business but Missing the real game changers empowerment is the triple talaq This comes at the cost of our insti
can I forget religion, which was ve To my mind, the evaluation of India also as the conscience of the nation. The Parliament, which stands for Bill which criminalises an act that tutions. We are still waiting for the
ry carefully taken right to the grass as a nation cannot be merely on the These are the real yardsticks to representation and accountability, has itself been nullifi ed by the apex government to make good on its va
roots by his workers? I could fi ll this number of villages electrifi ed or toi measure how a government is real has also been compromised. Parlia court. The death penalty for the rious promises — bringing back
space with innumerable fi gures, lets built or the allotment of gas ly treating a nation and its people. ment is often subverted and fewer rape of a child is the recent entry in black money and changing the edu
but I hope it suffi ces to say that the connections. These parameters This is where the current govern Bills are sent to the Standing Com this tall list of claims, while many cation policy, to name a few.
IT'S The micro is looking stronger but the macro is authority in disbursing
funds to the States. A
tio, massive job creation
or revamp of the banking
process was supposed to be eased
but it remains a big hurdle for ex
nomy paid a huge price in terms of
loss of national income and jobs.
COMPLICATED now facing some very severe adverse winds new monetary policy sector. The economy be pansion of industrial activity. The continuing farm distress needs
framework is in place, nefi ted cumulatively over deeper structural reforms and se
N
arendra Modi came to power with obviously very high expectations. focussed only on infl a two and a half years an A mixed record rious unshackling of the farm sec
an unprecedented mandate. His His party’s manifesto and promises tion targeting and the estimated ₹ 10 lakh crore. Thus, at the end of four years it tor. Banking woes loom large.
victory was on the basis of his own too had raised expectations. streamlining of the va This should have given a looks as if the micro is looking That’s why it is a mixed record.
personal credibility and charisma. rious subsidy and wel much bigger punch to stronger but the macro is now fac The economy is stronger and the
His campaign was run in a presi Hits and misses fare programmes, and widening the economy. In fact, the experi ing some very severe adverse micro foundations are getting
dential style and there was no Against this backdrop of the electo the direct benefi t transfer (DBT) ment of demonetisation hurt the winds. This is mainly because of stronger. But the electoral man
Ajit Ranade doubt that he was going to be the ral mandate, macroeconomic luck scheme. More than 300 schemes of GDP, and jobs especially, in the high oil prices, which means higher date, lower oil prices, and national
is chief economist at Prime Minister of the National De and promises, the Modi govern the government now make use of farm and informal sectors. We also infl ation, interest rates, and higher expansion of the footprint enabling
the Aditya Birla Group mocratic Alliance government. ment’s performance is mixed. the DBT, made possible with the did not see the government doing fi scal and current account defi cit. better CentreState coordination
Soon after securing a simple major There’s no doubt that there have opening of 315 million new bank ac well on the disinvestment front, es The fi scal defi cit faces additional have not led to a proportionate per
ity, he was also blessed with the been some signifi cant and deep counts, especially for the poor. pecially in many public sector units pressure due to various loan wavers formance outcome in terms of in
boon of oil prices crashing from ov structural reforms such as the pas So, these are the structural fea which had been lined up, including and the need to cut excise duties. creased investment ratios, capital
er $100 to less than $35, which sage of the insolvency code and the tures which will eventually benefi t Air India and in banking. We did Demonetisation was a very expen formation, exports, industrial
meant a big bonanza for the econo roll out of the GST, a decisive culmi the economy. What was missed out not see the opening up of FDI cru sive experiment even though the growth, disinvestment and readi
my. Subsequently, his party was al nation of a long, halting process. is that the huge fi scal bonanza that cially in retail, and now that ecom Prime Minister enjoyed tremen ness to face the coming adverse ma
so able to secure offi ce and run go The shutting down of the Planning the economy enjoyed in terms of merce has such a huge presence of dous public support. No doubt the cro economic headwinds.
vernments in over a dozen States. Commission is to be lauded, since it the fall in oil prices did not lead to FDI, it is de facto backdoor entry in taxpayer base increased and digital
Against this backdrop, there were had become an extraconstitutional an increase in capital formation ra to retail. Also, the land acquisition payments got a push, but the eco As told to Sonam Saigal
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC