Tuesday, May 13, 2014

Wait for Mr Modi to settle down

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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