Khao Aur Khilao budget by Arindam Chaudhuri
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Sheer disconnect between government’s fancies and reality is decaying India...
For the past few days time since realisation dawned upon the government that elections are just round the corner, newspapers all across the country have been flooded with a literal propaganda blitzkrieg unleashed by the government to showcase its achievements. Giant full page advertisements by different ministries as to how much they have been spending on social development and in improving the economy have become a norm than exception. To whom all the credits are being attributed to or on whose behest all these advertisements are being given is a known fact and needs no elaboration. All this for wooing the voters and to make all believe that the government has done a splendid job in the last five years and that it rightfully deserves to be voted back to power. Interestingly a few days back in one of the leading English news dailies of India, there was an article about a UN Report which stated that India is home to the largest number (230 million) of malnourished people on earth. And right in that very edition of that news daily, just a few pages later there were one page advertisements each (albeit with taxpayers’ money) by India’s Ministry of Health and Family Welfare, Ministry of Rural Development and even by the state government of one of the poorest states of India. Each of the ads was a blatant propaganda trying to prove how government has developed rural India, the UN report notwithstanding. As if not confident enough whether this daily dose of half truths are good enough to fetch votes, the government reduced the occasion of the Interim Budget to literally a tool for advancing its own personal agenda and did every type of populism possible to make the concerned vote banks happy. It didn’t care two hoots about the burgeoning fiscal deficit (expected to be 6%) and what impact it could have in the long run on the economy. This was complimented by several doses of post budget financial packages, subsidies and enhancement of dearness allowance for the already pampered government employees. The typical excuse given by the government was that such fiscal measures were needed to boost the economy in times of recession. Well, only if such money were to be spend on capital expenditures and not on typical revenue expenditures which do no good except for increasing government's borrowings and thus the internal debt of the economy. It took only a few days to vindicate how all of it is futile as recent estimates by the Central Statistical Organisation stated that the GDP growth rate for the third quarter has come down to 5.3%. This, in spite of two rounds of fuel price cut and increased salaries due to Sixth Pay Commission.
Thus, there is a sheer disconnect between what the government claims to do and how much impact it has on India. A recent Assocham report stated, ‘The 18 strangled projects of India Inc. to the tune of Rs. 2,44,815.5 crore remained on papers, in the form of MoUs and agreements over the past three-four years, however the smooth implementation could have created job opportunities for at least 1,64,000 people directly and 2,70,000 people indirectly’. This further vindicates that India's problems, be it social or economic can be solved if the government reforms its own bureaucratic style of functioning. The reasons for which projects get delayed are same for which in spite of spending billions, India remains a nation of malnourished. Need more reasons as to why strong institutions are need of the day?
Pathikrit Payne
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
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Shahrukh khan to Host IIPM 4Ps Annual Business and Marketing Quiz
2,300 IIPM students get jobs
Sheer disconnect between government’s fancies and reality is decaying India...
For the past few days time since realisation dawned upon the government that elections are just round the corner, newspapers all across the country have been flooded with a literal propaganda blitzkrieg unleashed by the government to showcase its achievements. Giant full page advertisements by different ministries as to how much they have been spending on social development and in improving the economy have become a norm than exception. To whom all the credits are being attributed to or on whose behest all these advertisements are being given is a known fact and needs no elaboration. All this for wooing the voters and to make all believe that the government has done a splendid job in the last five years and that it rightfully deserves to be voted back to power. Interestingly a few days back in one of the leading English news dailies of India, there was an article about a UN Report which stated that India is home to the largest number (230 million) of malnourished people on earth. And right in that very edition of that news daily, just a few pages later there were one page advertisements each (albeit with taxpayers’ money) by India’s Ministry of Health and Family Welfare, Ministry of Rural Development and even by the state government of one of the poorest states of India. Each of the ads was a blatant propaganda trying to prove how government has developed rural India, the UN report notwithstanding. As if not confident enough whether this daily dose of half truths are good enough to fetch votes, the government reduced the occasion of the Interim Budget to literally a tool for advancing its own personal agenda and did every type of populism possible to make the concerned vote banks happy. It didn’t care two hoots about the burgeoning fiscal deficit (expected to be 6%) and what impact it could have in the long run on the economy. This was complimented by several doses of post budget financial packages, subsidies and enhancement of dearness allowance for the already pampered government employees. The typical excuse given by the government was that such fiscal measures were needed to boost the economy in times of recession. Well, only if such money were to be spend on capital expenditures and not on typical revenue expenditures which do no good except for increasing government's borrowings and thus the internal debt of the economy. It took only a few days to vindicate how all of it is futile as recent estimates by the Central Statistical Organisation stated that the GDP growth rate for the third quarter has come down to 5.3%. This, in spite of two rounds of fuel price cut and increased salaries due to Sixth Pay Commission.Thus, there is a sheer disconnect between what the government claims to do and how much impact it has on India. A recent Assocham report stated, ‘The 18 strangled projects of India Inc. to the tune of Rs. 2,44,815.5 crore remained on papers, in the form of MoUs and agreements over the past three-four years, however the smooth implementation could have created job opportunities for at least 1,64,000 people directly and 2,70,000 people indirectly’. This further vindicates that India's problems, be it social or economic can be solved if the government reforms its own bureaucratic style of functioning. The reasons for which projects get delayed are same for which in spite of spending billions, India remains a nation of malnourished. Need more reasons as to why strong institutions are need of the day?
Pathikrit Payne
For more articles, Click on IIPM Article.
Source : IIPM Editorial, 2008
An Initiative of IIPM, Malay Chaudhuri and Arindam Chaudhuri (Renowned Management Guru and Economist).
For More IIPM Info, Visit below mentioned IIPM articles.
IIPM 4Ps Quiz- Shahrukh Khan Video
IIPM - Most Innovative B-School
IIPM Best B-school
IIPM
IIPM Global B-School
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IIPM 4ps Quiz
IIPM: History, and Founder Director Dr. M.K. Chaudhuri
IIPM New Delhi, The Indian Institute of Planning and Management, India
IIPM Placements New Delhi, India
IIPM New Delhi India
IIPM MBA Institute India
IIPM - International
Business and Economy - India's Most Influential Business and ...
Rankings IIPM, The Indian Institute of Planning and Management India
Management Certification, IIPM India
(IIPM) Management Education Institute India
Moneycontrol >> News >> Press- News >> IIPM ranked No1 B-School in ...
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The Hindu Business Line : IIPM placements hit a high of over 2000 jobs
Deccan Herald - IIPM ranked as top B-School in India
India eNews - IIPM Ranked No1 B-School in India
IIPM Delhi - Indian Institute of Planning and Management New Delhi ...
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IIPM makes business education truly global-Education-The Times of ...
