Why is Manmohan under attack?
Suddenly, the Indian government and Prime Minister Manmohan Singh have come under sharp attack of the international community. Recently, the US magazine Time, the Independent of the UK and US President Barack Obama criticized Manmohan Singh in no uncertain terms. Each of them chose to lash out at the UPA II government and Singh for their failure to push economic reforms in India. This trend of taking on a 'proclaimed world leader' and eminent economist is, somehow, baffling, and it smacks of some other inherent designs.
LET'S FIRST see the case of Time magazine, which carried a cover story on Manmohan Singh dubbing him as an underachiever and concluding that India's economic software had crashed and needed to reboot. The magazine wants India to reboot itself. But, for whom - India or the crashing hardware of the US and EU economy? Surely, Time is not so generous to think of India exclusively. It didn't think of any such reboot while India was going through a worse phase and the US and the European Union were in sound economic health.
While the dust had not settled, the US President Barack Obama found fault with India’s economic policies, thus attacking economist Manmohan Singh. Obama found Manmohanomics obstructive in nature and that it did not allow foreign direct investments in many sectors in India. He practically went ahead to blame India for economic downturn in the EU and the US.
Thankfully, this time around, the Indian politicians stood by the government while lashing out at Obama for targeting India and infringing upon its sovereign (albeit, hugely diluted) right to choose its economic course. It was nice to see BJP leader and former Yashwant Sinha come out and take on Obama and the US’ hegemonistic tactic in exhorting India to expand reforms. India cannot and should not be dictated by the US or any other country or bloc.
Clearly, the pressure that is being applied on the Indian establishment led by Manmohan Singh is an attempt by the west to seek more ground for their big corporations, which are rapidly going bankrupt putting enormous socialistic burden on the capitalist governments. India and China can easily provide them the required space as these countries have big areas, resources, markets, and population.
While China has improved its technology and has socialistic capital to take on both the capitalist capital and market, India is an easy hunting ground for the US and the EU. They hope that if India opens up more sectors for their corporate money, it would help them revive their markets and sentiments. This explains why there has been an entire gamut of sustained efforts through leadership, diplomacy and press to put question the credibility of Manmohan Singh his UPA II government.
This is where Manmohan Singh government’s policy paralysis is working in India’s favour. If the much criticized policy paralysis is a conscious effort by this government, it is praiseworthy. There is no reason as to why should India be used as a growth engine for the EU and the US.
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Atul
Mr. Singh is under attack because of his inability to do anything... that too because of Mrs. Sonia.....No doubt Dr. Singh is a great PM but he is just a remore control in the hands of Mrs. Gandhi
Sunil
Poodle doesn't mean he is a dog breed but it means he is 'servile' to Sonia Gandhi. Isn't that right? Going by your argument, why Western media is concerned about Indian economy, doesn't that mean media of a particular country should limit its reportage to its borders? Percentage is another issue but FDI provides jobs here. You seem to be a Manmohan Singh fan and I am sure you have a poodle attitude as well - not dog bur servile.
Dilip Buragohain
Your logic would have made perfect sense had we been living in a self-sufficient, isolated envioronment with controlled population and resources. But the fact is that, we are not. So if US or Europe fails, it will pull us down. For example - IT companies will see mass job cuts and salary cuts which in turn will pull down Auto segment and which will in turn pull down media industry. The fear psychosis will catch up and other industries will soon get into a reserve mode. Another recession - and this time it may be worse than 2008. Can we afford that?
Deepak Manocha
Very funny. Have you taken into account the fact that we live in the era of globalization? Why would India's be deprived of Mc.Donald to Ferrari cars to Walmart? Just because they are produced or originated in US? That sounds like a stone age policy where Neanderthals used to protect their areas. Had we kept telecom sector under the same philosophy we would have been paying INR 30 for a mnt even now. I am not saying we should open doors to everybody - but 'not taking a decision' at a time when we are nearly at the verge of recession doesn't seem to be a good thing.
Rajiv Kumar Jha
I agree with you on the fact that India should not be a hunting ground for US and UK. There is no point of us becoming a pseudo marketing ground for the western countries. India have enough resources to become a self sustained economy. Well written.
Ashok Pundit
Your article comes out as a optimism in midst of all gloomy news. So you feel the decision making paralysis is doing good to India? Great!! But then how come every industrialist entrepreneur is bashing up the govt.? How come India's growth index is downgraded by every other agency? Why is inflation and country's economy seems to be going out of control?
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