Monday, July 30, 2018

Dinesh Kamath's Editorial 'Why only UP? Why not other States too?' that was published in Newsband


Why only UP? Why not other States too?
Modi has launched 81 investment projects worth over ₹60k crore for UP. These projects have the potentials of creating over two lakh new jobs. The projects are expected to give a big boost to industrialisation in the state.
Is Money from other regions is being diverted to UP so that Modi can win re-election? It is patently unfair and unjust. The question everybody asks is why Modi didn't launch these so called 81 investment projects earlier? Is this act a part of electioneering?
Also the list of invitees present on this occasion shows the prospective beneficiaries. In case the projects take off as envisaged and if lakhs get employed the losers will be the realtor enterprises who have a chunk of workers in their construction work from U.P. (Bihar) spread over the country.
While on this, it makes one wonder what type of projects are these as none have been specified. Secondly, why all these are in one State, viz. U.P. only? Modi should have specified the projects instead of leaving the people guessing or is there any secrecy factor preventing him to do so?
Increasing private investment is indicators of improving legal situation and systemic inertia. Anyway credit should go to Yogi government for improving business sentiment. Now time for results.
It is a matter of pride that 81 new projects worth 60,000 crores have been launched by the PM in UP on a single day all of private entrepreneurs. This certainly will generate more employment and ancillary units and other business to support these units. But why PM's all benevolence is restricted only for UP? As a PM, he is supposed to look after the development of whole of the country and not one or two states dear to his heart. Or is it the game of 80 MPs Vs 13 MPs from state like Punjab or with other states still having less numbers of MPs.
Before implementing these projects, better set right the officials who (majority) are highly corrupt and then projects may be announced.
Some people call this act as spending out of proportionate money in UP for its 80 Lok Sabha seats. Money is mostly wasted for unproductive causes. Hence the rupee is going down. Modi needs to focus on measures to increase productivity. Spend more money on southern states. That is the bread and butter of this economy.
Maybe Modi thought that UP being one of the biggest state of India have huge potential in terms of employment, industrialization, agriculture, SME, skill development. UP for the first ever time accept development as its first & foremost agenda. So it’s time for PM to showcase the growth like his own native state not only to gain the voter for coming 19 election but also move towards a developed India.
It marks a major shift. Clearly the emphasis is now on the private sector that is going to play a major role in these projects. For too long we have suffered with mega government projects that invariably end up in scams and delays.
However, we cannot simplistically assume that private sector is scam-free. Secondly, there is no doubt that announcement of these projects in the electorally central and biggest state of India is simply an election stunt. The PM is going to UP every weekend and his party has been using symbols like a Yogi as CM to keep the cadre happy.

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