Mr
Iyer’s change of mind is understandable but he should refrain himself from
giving suggestions to the new Government at this point of time. Mr Modi has his
own plans and ideologies and as it is he has his own agenda as to how to take
the country and economy forward. The economic policies pursued so far by the
UPA 1&2 are faulty and created all possible ills in the economy beyond easy
solution. Mr Modi has to understand first what is wrong, why it is wrong and
where it is wrong? The subsidies and fixation of prices need a total review and
the inefficiencies and wastages observed in the functioning of PSUs and PSBs
need to be completely eliminated by bringing them under highly skilled,
professional and expert management with accountability to parliament. The
taxation and other economic policies need to be revisited to generate wealth at
the national and individual levels. The gaps between the rich and the poor need
to be gradually bridged and this is not an easy task as the economy as it is, is controlled
and dictated by vested interests. A lot needs to be done and it is better to
wait and watch as to how Mr Modi makes his initial steps.
Dr.T.V.Gopalakrishnan
(This comment is in response to Mr SA Iyer's article that appeared in ET dated 14/5/14).
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