Editor in Chief: Moh. Reza Huwaida Sunday, July 7th, 2024

The Economy of Politics or the Politicization of the Economy of India

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The Economy of Politics or the  Politicization of the Economy of India

Sharp criticism of the current federal government of India has been visible in the national media, the opposition and some sections of the public regarding the performance of the emergent Indian economy. Innumerable questions are being raised about the government trying to uphold the image of India on a global platform as a regional and global strategic power, an emergent economy and to convince the world to make India a premier investment destination. While in democracy, all kinds of criticisms and introspections are welcome; but, at the same time one has to be objective and unbiased regarding their evaluations. The opposition must protest when a wrong policy is being adopted in the parliament; but one also needs to extend the support when a government works towards the long-term future of the nation. India has a huge population and a multi layered society with numerous complex century old issues. One has to remember that it is not easy to rule such a critically complex and heterogeneous multi-ethnic, multi-lingual and multi-faith nation easily. No government can ever solve all the problems and issues of the nation whatever may be their electoral promises. Rather than looking to the government for everything from monsoon rain to employment the public has to do self-introspection too; and think what they are individually contributing for the long-term future of their nation.

For the first time in the post independent history of the nation, India is being globally appreciated for the broader role played in establishing peace and stability in the Asia-Pacific region. The federal government should be commended for their relentless efforts in working towards that. India’s role in extending cooperation to the earthquake ravaged Nepal has been internationally praised and the current government deserves appreciation for that. The federal government has been criticized for their enhanced focus on building strategic and diplomatic relationships with the neighboring countries over pressing domestic issues by the opposition. Our planet has transformed into a global village and to survive any country will now need foreign investments and international support. Without international engagement no country can prosper under the current global scenario. The successive previous national governments had concentrated most of their efforts in dealing with internal issues. Did this solve all of India’s complex internal issues and problems? There has been no major complain regarding corruption in the first year of the government; and the peace and economic progress of the nation has shown some directions from the last decade however small it may be. The opposition needs to remember that they should be objective and constructive of their criticism; and hence coordinate and cooperate with the government for the future prospect of the nation rather than just pointing fingers at one another for their individual political agenda and personal gains.

The government must be appreciated for proposing a sensible railway budget with long-term sustainability and improvement in the infrastructure and service. For several years the railway budgets have been a document of appeasement and gimmicks for the public rather than facing the reality. The financial situation of Indian railways has been deplorable and that it needs efficient management rather than subsidized packages. It will be important to increase the railway footprint in the country and extend the service to as many remote corners of the nation as possible. Bullet trains and other services are distant dreams for the nation that does not even have minimal railway infrastructure connecting all the states 69 years post independence. Rather than criticizing the budget for not having cheap attractions, one should look for accepting a sensible budget that attempts to build a stronger foundation for future opportunities.

India has done enough experiments in the past following British, Soviet and partly American free market economy with each system having its own merits and demerits. India should follow the economic strategy that caters best to her vast population including millions of rural poor and under privileged members of the society. There is no need to copy the exact success of another economy. Off course it is important to draw inspiration from others; however, the future growth of a nation is governed by numerous factors that are not taken into consideration by main stream economists such as political philosophy, national peace and stability and the numerous socio-cultural factors shaping the cumulative day to day impact on the sock markets, climatic fluctuations impacting agricultural productions, import and export balance, success in bringing foreign investments, stable internal growth rates, level of corruption within the nation, moral ethics and population growth rates. Several of these factors are way beyond the control of the administrative, economic and political machinery of a nation. Hence instead of surpassing anyone, India should focus in dealing with her own economic challenges and maintaining an environment of peace, political stability and a steady but continuous economic development across different states and union territories to reach its due place in time.

Last but not the least, it is important to face the crude realities of life without prejudice for a better future. The federal government of India may have been worried about the political backlash that it may receive by releasing the caste based socio-economic review report. This approach should be criticized. The Indian subcontinent has suffered in the rural front for centuries when the region was ruled by numerous small kingdoms and feudal landlords dating pre colonial period; and the situation has not changed even in the pre and post independent India. However, it is not just the result of the political failure but a complex problem of a social system with severe discrimination, lack of economic opportunities, education and scope of empowerment for the rural poor for centuries; and this could not be fixed in a day or by a single government. India needs to face the realities to identify the loopholes of her socio-economic dynamics and work with dedication, sincerity and enthusiasm to slowly but eventually bridge the gap between rural and urban India. But first it will be best to accept the truth and make sure that the nation works towards finding a proper solution to these challenging issues without being blocked by static and negative politics of the government and the opposition. The claustrophobic fight between the government and the opposition will not help Indian economy and her people to progress in the right direction.

 

Saikat Kumar Basu is a Canada and India based freelance journalist specializing in global geo-political, strategic and foreign policy issues, science & technology and environment & conservation related themes. Regularly contributes to newspapers, newsletters, bulletins, magazines and journals in Asia, Africa and the Americas.

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