Sunday, May 29, 2016

Won't be easy if the system changes permanently.

Prime Minister Modi has completed 2 years in government and the analyses of his achievements and failures have been extensive. We do not remember such minute dissection of policies during the 10 years of Congress raj, when the economy was being ruined, money looted from scams was counted in trillions, double digit retail inflation was eating vast chunks out of our savings and the rupee almost collapsed into oblivion. The reason maybe that Narendra Modi is completely different to what has gone before. For 68 years since independence India has been shackled by socialism, crony capitalism, corruption and leftist liberal flimflam. Modi is completely different because he talks of development instead of more handouts, because he is not interested in accumulating wealth by looting the exchequer and because the BJP won absolute majority in the lower house, the Lok Sabha. Modi has clamped down on corruption so that those who were milking the system find their earnings disappearing. He stopped taking journalists on his official visits abroad so they miss out on foreign junkets at taxpayer expense. The real estate sector has almost seized up because Modi has clamped down hard on black money. There is immense rage because all those who were living in unbounded luxury by gaming the system suddenly find their sources of illicit wealth cut off. They have mounted a ferocious campaign of vilification through a pliant media, smarting from the loss of their privileges. A common refrain is that Modi is a Hindu nationalist. It has never been explained why being a Hindu is a crime so that conversion by other religions are encouraged, Bangladeshis are allowed to flood into India without restriction and Pakistan has to be embraced even though it is officially committed to terror attacks on Indian soil. Why is it wrong for an Indian to be a nationalist when the US proudly celebrates its armed forces on Memorial Day and politically correct Europeans strut around on VE Day to celebrate victory over Axis forces in World War II. Modi boosted money transfer to states so that each state is able to finance its own programs for development. This has boosted competitive federalism so that regional parties will be forced to perform or lose elections. Those who are still managing to win elections by throwing handouts at voters will face mounting debts and may suddenly find difficulty in carrying out basic functions such as paying salaries of government staff. So the attacks on Modi. He had said that if all the black money stashed abroad is brought back into India each person will get Rs 1.5 million, which has been held against him as a broken promise. He has been mocked as 'suit, boot ki sarkar' when it has not been explained why we should perpetually continue to have a 'loin cloth ki sarkar'. The fear is that he will change the system permanently so that they will not be able to loot even if they come back to power. Poor crooks.

1 comment:

Sakti Deb said...

Wish you all the best. Hope to see you as manager at my bank.