Shiban Khaibri
We, as a fast developing nation, are aspiring for a high and sustainable growth for obvious reasons. Growth and the resultant development are both inversely related to change. Change, we could term also as reforms. Every ordinary citizen understands that the individual requirements have not only changed but expectations of quality improvement in life are gaining ascendancy. We are a young nation, the young India, which is repeatedly being stressed upon by the Prime Minister with phenomenal potential. Pragmatism and visionary approach of the PM has, at the outset, given a boost to the Digital India and the middle class which had so far been at the cusp of feeling what it means to be digital has become digital. Looking to the lavish criticism by the select opposition parties to every move by the Government in power that calls for a change and an innovative approach, the temptation of succumbing would result in utter dormancy and risking stagnation. Criticality of the matter can be gauged by the population explosion in the country which for vote bank and petty political considerations over seven decades of our having gained independence, has deliberately been kept on the back burner. With this huge problem faced by the country, we have to move fast and for that, we have to build skills and capabilities which are pivotal for innovation. We have to create capabilities for growth and new innovations to attract investments both from home and abroad and both are in huge measure with little limits.
This writer has been highly critical of the opposition parties especially the Left who are not tired of attacking the corporate world for reasons best known to them when they , in fact , play a very important role in the building of our economy in various ways. The Communists and other Left political parties are still bogged with obsolete socialistic and Marxian solutions to cure present day economic problems, in particular the unemployment problem while they still cling to state control of means of production. That having turned now stale and out of tune with changing times especially in respect of agriculture which worldwide now is not a profitable venture despite inducting of various support system including heavy doses of subsidies to fight falling prices and mismatch between the input costs and the price on the yield. On the other hand, Corporate India has been playing and does play in transforming and building shared prosperity for our huge population. In particular, if we refer to the entrepreneurial sector, it has been performing in and catering to this vital sector in a big way. This sector is very much vibrant and promising as well.
On the other hand, in case the Government does not work in partnership with Corporate India, new developmental approach cannot get materialized. The Holy Rig Ved says, “May we be blessed with the wealth of maximum capabilities”. It is high time, we aspire for a big leap, the winning leap and in this, the entrepreneurs in the private sector can do a lot as it is blessed with a lot of capabilities. Specific capabilities need to be identified and fortified as also solutions devised. We therefore need to be aggressively going about changing of obsolete procedures and practices so that we pull ourselves from 7 to between 8 and 9% growth with no slippage whatsoever. Entrepreneurs and the private sector on the whole, must be willing to take risks, a habit of taking fast decisions with bold and expert leadership . To repeat, the responsibility ultimately has to fall on the corporate sector though it has limitations when we analyze the huge population which requires on an average 12 million jobs each year to “adjust” the unlimited supply of job seekers unleashed by our country’s demographic dividend. What is peculiar about our country and hence our economy is that the concept of entrepreneurship should undergo a transformational shift in that not only in high urban areas only but it must get percolated in semi urban and rural areas as well. In this the quantum of risks, if any, shall get neutralized because of the world known super capabilities and inherent strength of our young entrepreneurs. India’s Information Technology’s success (I T) is worth to be cited here as the entire world has seen our exports not only increased but exploded.
Once Mahatma Gandhi said, “The difference between what we do and what we are capable of doing would be solving most of the world’s problems.” Ease of doing business, therefore, emanates from this belief. In fact, country’s development, in easy parlance, is related to ease of doing business. We have to bid adieu to obsolete, worn out and lengthiest procedures and approaches if we have to aspire for higher annual growth and development which are guarantees to higher income levels and improvement in living standards. Have we not been “known” as a destination for a difficult market to do business? This approach discourages investment and most of the investment plans, otherwise lucrative, get abandoned to the peril of our growth. Modi Ji recognized this critically and has therefore been laying stress on ease of doing business. He is out and out to demolish the barriers in the business climate and environment. So far, especially during the last UPA regime, we saw such a business environment which inhibited growth rather than expanding it not because this simple rule was not known to policy makers but because to keep alliance partners in good humour especially the Communists who have been deadly against not only giving concessions to the corporate India but weary of initiating any labour reforms. Politics was made to triumph at the cost of economic considerations. The paradigm shift in this vital mind set and thinking on innovative lines has earned India appreciation from the World Bank in the area of ease of doing business. We have shown remarkable improvement which, however, again has been traditionally mocked by the select opposition.
Late last year in its report, the World Bank has noted that India jumped 30 places thus ranking now at 100th position from its 130th position among 190 countries in this regard. There were no celebrations across the country by our political parties as this “feat” was achieved under the leadership of Narendra Modi although it was the country’s achievement. Not only this, there was another feather in India’s cap, that of being one of the top 10 improvers. So, whatever was mentioned in the lines above has been underlined in the ranking as interaction and cooperation between the entrepreneur leadership and political leadership being critical and most important. Better economic environment is vital for our small business and micro enterprise in particular. If we term it virtually a single minded pursuit of Modi Ji, it will not be any exaggeration. Providing a protection of small shareholders, sanctioning power connections, reforming tax laws, cutting down red – tapism in bureaucratic offices, single window sanctions and redressing of issues are some of the measures taken and the process is on continuing basis.
Our performance was not reflected in terms of other countries only but in terms of our high scores in comparison to our earlier performance. We have not to be complacent having jumped 30 points and being at No. 100 but we have just begun where we should have been half way ahead, at least lower than 50th ranking which calls for our incessant improving . Our laws and regulations have a direct bearing on our doing of ease of business. We have to be on the reforms path though they are to give us less in short term immediately but promise handsome returns in the long run. Only then can we appear fighting the biggest problem of adjusting ever increasing working force not by stalling important legislations to pin down the Government and keep yelling , “Where are the jobs , you promised” without giving an explanation where were those during the last nearly.70 years.
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