Dinesh Kamath's Editorial 'Modi govt. wants India to be among top 50 countries' that was published in Newsband

Modi govt. wants India to be among top 50 countries

The Narendra Modi government had set itself the target of breaking into the top 50 in the World Bank’s annual ranking of countries. The Bank in its Doing Business 2017 report now ranks India 130 among 190 countries. This is the signal of the snail’s pace of economic reform.

Are we becoming a paper tiger? Before we become a super power we should become a power that can avoid malnutrition, a power that can educate and skill its people, a power that can shelter its people and a power that can find employment for its people to feed. India need further land reforms. India need to recognise the farmers and farm workers like the businesses.

Modi and his team want to run faster, but there are several Speed Breakers in the track. In the larger national interest, these Speed Breakers must be removed. With their total removal, India will definitely be in the top 100 in ease of doing business, in the remaining part of the tenure of the present government.

While lots of governmental schemes being introduced everyday by the government and PM Narendra Modi, the question about the inclusion of lower economic class people (BPL) comes into account. Until some massive economic reform for achieving EQUITY comes into implementation (such as employment opportunities, rural developmental activities), there cannot be any significant change in the lives of people and thereby the country as well.

Modi government came to power in 2014 with lots of love and hope but it seems to be very slow pace development. There is a huge gap what ought to be filled. Modi government need to fill this gap before it gets too late. This can only be done by taking strong steps instead of rhetoric.

Bureaucratic lethargy at central and state levels are the primary reason for low ranking. Babus will simply not do any work nor will allow any progress irrespective of the government at the centre or states

It is responsibility of PM Modi to improve our country’s ranking in the report. Our economists should introspect why India could not improve its ranking despite reform measures that have been lauded in the report? India continues to be a self-praising and tom-tomming nation with very low productivity and efficiency at the Socio-Economic and Environmental levels. India cannot reach anywhere without sustained efforts to improve the following: (1) Education; (2) Village developments; (3) Excellence in Science, Technology, Medicine and Self defence.

The Indian conditions for augmenting the ease of doing business is not upto mark for overseas investors. Even the domestic investors find it hard to establish a business in the midst of political hurdles and no conducive atmosphere for doing trade. The Singur failure caused by political interruption is a big blow to Tata on Nano project. If such is the plight of the domestic investors how the overseas investors will have the optimism to invest in India? Nevertheless the snail paced structural reforms, absence of investor friendly tax structure, rigid labour laws and bleak state central coordination are the major causes for the ease of doing business being murky in India. But an optimistic government with ‘Make in India’ concept and GST laws will augment optimism to do business in India.