Indian Economy and Governance



Every countries driving policy is always based on its economy but unfortunately the policies of our present government look absolutely unclear. It appears like they are basing their decisions haphazardly and everything seems to be in utter chaos. 

Heads of Governance don’t come forward to interact with the countrymen to explain the vision of the government. This is in fact their duty and their responsibility to provide understanding regarding policies related to Inflation, Unemployment, Law and Order, Farmer's agitation, Unemployment ,Effect of Covid 19, etc. Our PM came only in front of the country when he had to announce his disastrous decision regarding Demonetization, GST and to hold unlimited election rallies! 

I understand every government in their tenure use Central agencies but what the country is witnessing now is a matter of concern. Few days back ,ED raided a powerful Sena MLA because the defeat of Maharastra is hurting the present filling party of Central.

Three days back Central Bank has amended and recommended a policy to the Government to allow the Corporates to open and run Banks. This policy is being widely criticized but it appears like they will move ahead as the government looks like they are under pressure from their favorite Corporate Houses. Something to note is that that approx. 4500 small and big corporate houses heads have defaulted and run away from the country after taking loans from Bank and become NPA. After our Independence, between 1947 to 1956 approx. 525 banks become insolvent (during that time Banking was under Private regime and most of them were owned by Corporates) and Taxpayers lost their money due to which Late PM Smt. Indira Gandhi decided to move ahead with the nationalization of Banks to give assurance to the Nation about the safety of their money. The way LVB was recently handed over to DBS Singapore,  it's an example of present governance rigidness. LVB was running most of their branches on its owned property. Again DBS got LVB under the pressure of present governance favourite corporate houses who do lot of International investment and businesses through DBS.

Jaihind

Manoj Joshi