September 1, 2011
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Dear friends India is witnessing a defining moment of our Democracy having unanimously passed a resolution by parliament to include three important aspects in the proposed Lokpal Bill as suggested by civil society. This is a victory of people of India and hopefully this momentum would continue and active civil society involvement would enhance credibility of our democracy, better governance etc., in the years to come. I would like to quote from a recent Article by Kumar Mangalam Birla titled - India’s economic vision and forceful assertion are critical after US downgrade leading to global stock market crash in the Economic Times:
- This is a schizophrenic economic world. The developed economies are mired in high unemployment, slow growth and high fiscal deficits. Asia and other emerging economies are experiencing high growth and a relatively better fiscal situation. While one part of the world is trying to induce growth with loose money, another part is fighting inflation with tight money.
- India is pushing far, far below its potential. This is the time, and the moment for the nation's economic batteries to be re-energised and rejuvenated. First, we must boost creativity, agility, quick responses and a lot of experimentation. New ideas often need to be implemented quickly, even if on a pilot scale. We also need policy facilitation to increase domestic investments.
- India's forceful assertion becomes even more critical in a world where many problems - pollution, environment, migration, for instance - are global.
- In sum, I want to say that India launched its last big reforms drive in 1991. That single push worked magnificently. It's time to hit the accelerator again, with double the vigour.