Why is the Prime Minister frustrated?

At a meeting with our extremely wealthy industrialists the Prime Minister vented his frustration saying," Risk taking is in your DNA that is why you are businessmen and not a consultant drawing a salary." Er, no sir. Our fellows are not businessmen or consultants, they are hustlers. They have been dependent on government contracts, achieved through bribes, which are funded with loans from public sector banks, not risking a paisa of their own money, and then being bailed out by the government with taxpayer money when they are unable to complete projects. The much touted Public Private Partnership in road construction is a perfect example. Construction starts with loans from public sector banks, tolls are collected from the start, even when the construction activity causes massive traffic jams, and if revenue collection is poor the government fills in through the Viability Gap Funding and extends the period of toll collection. If the government builds a supplementary road to ease traffic congestion the contractor has to be paid a compensation. It is the same story in the electricity sector. Distributing companies, which are usually state owned, have long term power purchase agreements with private plants which guarantees purchase of the entire capacity of the plant even if the plant is not producing any electricity. Cost of electricity is going up, when international prices of oil, gas and coal are at very low levels, so that there is a surplus of power because 300 million people are unable to pay for it. The number of dollar millionaires in India has risen even while 2.3 million apply for 368 posts of peons in UP. Their wealth is mostly in shares and real estate which is why they keep on screaming for interest rate cuts, causing frustration for the Governor of the Reserve Bank. He criticised the tendency for 'jugaad' and said that for sustainable long term growth we need to build the necessary institutions. " For this, we need the understanding and co-operation of business, not impatience and pressure for quick, impossible fixes," he said. However, it is not wholly their fault. Socialism is written into our constitution which gives control to politicians and civil servants who award contracts to their cronies in return for a share of the spoils. IAS officers are running away from Delhi. The government is weeding out those who have become too comfortable in their positions and are content not to do anything. But what about politicians? They are the main cause of the illness affecting our country. Why are farmers cultivating sugarcane in the driest districts of Maharashtra? Because local politicians own the sugar mills and have diverted all the water for their own use. Unless we get rid of our politicians we will never create wealth, and that is not possible.