An economic agenda for 2020

[vgane]

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A well articulated economic agenda by Dr Subramanian Swamy..The vision is grandeur but it needs a meticulous and effective implementation at the grass roots level with rigorous monitoring & review mechanisms in place

Is Swamy gunning for the Finance or Commerce Ministry?


I liked the following 2 parts:

1. Thus, India has now become, by unintended consequences, gifted with a young population. If we educate this youth to develop cognitive intelligence to become original thinkers, imbibe emotional intelligence to develop team spirit and a rational risk-taking attitude, inculcate moral intelligence to blend personal ambition with national goals, cultivate social intelligence to defend the rights of the weak, gender equality, the courage to fight injustice, and the spiritual intelligence to tap into the cosmic energy (Brahmand) that surrounds the earth, then we can develop a superior species of human being, an Indian youth who can be relied on to contribute to make India a global power within two decades. Only then, our demographic dividend will not be wasted. This has to be the core of the economic agenda for a new government in 2014.

2. To become a developed country, India’s GDP will have to grow at 12 per cent a year for at least a decade. Technically this is within India’s reach, since it would require the rate of investment to rise from the present 28 per cent of GDP to 36 per cent while productivity growth will have to ensure that the incremental output — capital ratio declines from the present 4.0 to 3.0. These are modest goals that can be attained by increased FDI and by use of IT software in domestic industry.
Need for more reforms

But for that to happen, more vigorous market-centric economic reforms to dismantle the vestiges of the Soviet model in Indian planning, especially at the provincial level, are required. The Indian financial system also suffers from a hangover of cronyism and corruption that have brought government budgets to the verge of bankruptcy. This too needs fixing.

An economic agenda for India 2020 - The Hindu

 

[sangom]

A well articulated economic agenda by Dr Subramanian Swamy..The vision is grandeur but it needs a meticulous and effective implementation at the grass roots level with rigorous monitoring & review mechanisms in place

Is Swamy gunning for the Finance or Commerce Ministry?


I liked the following 2 parts:

1. Thus, India has now become, by unintended consequences, gifted with a young population. If we educate this youth to develop cognitive intelligence to become original thinkers, imbibe emotional intelligence to develop team spirit and a rational risk-taking attitude, inculcate moral intelligence to blend personal ambition with national goals, cultivate social intelligence to defend the rights of the weak, gender equality, the courage to fight injustice, and the spiritual intelligence to tap into the cosmic energy (Brahmand) that surrounds the earth, then we can develop a superior species of human being, an Indian youth who can be relied on to contribute to make India a global power within two decades. Only then, our demographic dividend will not be wasted. This has to be the core of the economic agenda for a new government in 2014.

2. To become a developed country, India’s GDP will have to grow at 12 per cent a year for at least a decade. Technically this is within India’s reach, since it would require the rate of investment to rise from the present 28 per cent of GDP to 36 per cent while productivity growth will have to ensure that the incremental output — capital ratio declines from the present 4.0 to 3.0. These are modest goals that can be attained by increased FDI and by use of IT software in domestic industry.
Need for more reforms

But for that to happen, more vigorous market-centric economic reforms to dismantle the vestiges of the Soviet model in Indian planning, especially at the provincial level, are required. The Indian financial system also suffers from a hangover of cronyism and corruption that have brought government budgets to the verge of bankruptcy. This too needs fixing.

An economic agenda for India 2020 - The Hindu

Dear Shri gane,

I agree it all sounds very well. But how does Swamy plan to go about inculcating cognitive, emotional, moral, social, spiritual etc., types of intelligence to the youth of India who now number close to a billion? I feel such a task will be beyond any human capability.

All said and done Swamy's medicine sounds very much like பழைய குருடீ, கதவைத் திறடீ!! (paḻaiya kuruṭī, katavait tiṟaṭī!!) since he also finally harps, like PC, on "increased FDI and by use of IT software in domestic industry"!
We all know, by now, that increased FDI will mean that He who pays the piper calls the tune. And, we will have to do exctly what those Foreign Direct Investors want us to do; all these grandiose talk of inculcating cognitive, emotional, moral, social, spiritual etc., types of intelligence to the youth of India, will be irrelevant.

As regards use of IT software in domestic industry, my own impression is that we are increasingly using IT in many of our industries. But when we use such software, which are mostly patented by developed countries, there is a huge forex outflow. Our domestic IT industry is even today one that consists of contract jobs wherein the lower wages are utilised and exploited to the maximum and even the Flagship Infosys is doddering.

I therefore feel that Swamy's is a wishful dream; nothing more.