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Political Play
CA Dr Sunil Gupta
Endeavors to turn developing India to developed India 22 July, 2014
Many years ago, India was anticipated to supersede almost every developed country. 'The upcoming superpower- India' was the phrase that presented a dream of prosperity and dignity to all Indians.
Should we blame the past governments, our political leaders, the corporate world, India’s judicial system, or ourselves for the uninterrupted downfall of our economy, our security, and above all, the standard of our living? Passing over the blame to the government, to opposition, to bureaucrats, and to the common man has just not served any purpose. Then, what is the answer that we have been unable to locate? Definitely, ‘renovation’ is the key.

We have been debating over the hiked petrol rates, dropping currency valuation, elevating current account and fiscal account deficit, and the uncontrollable interest rates. Did any of these so called essentials of our economy exist when we started off our voyage towards an organized economic set up?

Hence, when we think of renovating our fiscal and economic structure, shall we not locate the underlying causes of disaster, which once taken care of will automatically boost the overall setup? Mentioned hereunder are some endeavors, which in case paid proper heed to by the new government, can surely prove to be a blessing in disguise.

An unbiased subsidy structure:


The foremost area of concern shall be equivalent flow of paybacks. Be it the perks extended by the governments to the reserved classes, or the funds allocated by the central government to the states, every single penny should be assigned to the most justifiable part. Herein, a complete restructuring of our vote-motivated subsidy regime will prove an effective weapon.

When we all know that most of the recipients of our subsidy regime are those who can afford these benefits on their own, why should government’s limited resources be misused? Detecting states that need urgent funds to enhance the living standards of residents is the need of the hour.

Education at any cost:

Would the declined interest rates prove to be of any help in case the youth of the country remains uneducated and unemployed? Education shall begin with the commencement of life so as to let the person match steps with the society. 8 million children of our country are spending their crucial childhood days working at fireworks factories, local eateries, or as pity house maids.

Is the Right to Education Act serving any purpose? Street children beg for their living and even the ministers pass by disregarding the fact that the upcoming shoulders of India are weakening to the core. Not just compulsory, but vigorous efforts to bring kids to schools are looked for. Street children do not dream for cut down diesel prices, they just hunt for books.

Cooperative legislation for businesses:


Can the economy survive for even a single day without the business sector? Be it a sole proprietorship concern, or an MSME, or an MNC, the corporate sector prospers only when the laws of the land are supportive and unambiguous.

While many sectors scuffle with limited supply of resources, the others are punished with retrospective taxation, delayed clearances, never-ending corruption, and vicious rules of ministries. Easy finance, clear-cut taxation laws, fast clearances, and quick supply of essentials such as power, coal, and other natural resources should be the main concern of the new government.

Intact security to all:

Prosperity cannot stand for long in case the security wing of the country is vulnerable. Ranging from cyber to terrorist and naxal to communal, riots and attacks have been shattering the mankind as well as the economy of India. Be it the police administration, cyber security, or the trial structure, the country expects workable reforms that can assure every Indian a secured livelihood.

Herein, enhancement of our technology and tools is much-needed, along with allocation of funds towards the security wing. The new Prime Minister has displayed his urge towards bettering the security structure of India; however backing from states is much-needed.

Basic amenities for sure:

When a report reveals the fact that 80 percent of sewage is drained into our rivers untreated, you can understand what we all are drinking. Slums in every metro city depict the unequal distribution of wealth which has been prevailing since ages; however none of the governments could come up with any workable strategy.

Further, every other child in India suffers from malnutrition, which can never be a position in a developed or even a developing economy. Funds of the government have to be wisely routed towards enhancing the living standard of the underprivileged. Else, we will continue to be listed among the array of poor nations.

Affordable and speedy justice:

The ever-escalating count with respect to number of undecided suits in our courts stands at more than 32 million, which is sure to elevate as the way for new courts is rarely being paved. Our judicial system, which was once looked upon as the most esteemed wing, has on number of occasions been blamed for unethical conduct. The Judicial Standards and Accountability Bill as proposed by the government encountered unjustifiable protest from the components of our judicial structure. Transparency in the working of the judiciary and uninterrupted enquiry into charges of judicial corruption was the aim of this revolutionary bill.

We can understand that the new government needs adequate time to repair the very roots of our economic, political, fiscal, and social wings. The PM, Mr. Narendra Modi, has been voted for in the hope of a recovered India. Unwanted criticism will be like hampering the pace of the ministries, which are the sole groups that can vary the complete picture.

The areas as mentioned above are not just the only spheres of responsibility; however with enhancement of these vital areas, the roots of our overall structure can be expected to strengthen. Not just the government, the states, the opposition parties, and above all, every Indian will have to put in the hard work.

Editorial NOTE: This article is categorized under Opinion Section. The views expressed in this article are solely those of the author and do not necessarily represent the views of merinews.com. In case you have a opposing view, please click here to share the same in the comments section.
About The Author
A Chartered Accountant by profession and Director on the board of Punjab National Bank (PNB), General Insurance Corporation of India (GIC) and Rural Electrification Corporation Limited (REC). Dr. Sunil Gupta is working flawlessly for the economic and social prosperity of India.
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