Such plainspeaking within the inner circle is needed. I hope it exists but I doubt it. Not in India and not in many, many countries in the world. But, why single out political leaders? It has been singularly missing among so-called intellectuals. Otherwise, Brexit and Trump election victory would have been anticipated. So, in that sense, it is not just PM Modi who might be living in a cocoon of his own but scores of others too.
But, that is neither here nor there. This blog has been very happily exposing the hollowness and inconsistencies of the so-called intellectuals globally and will continue to do so.
Therefore, ‘what about?’ry is part of the argument in a duel/debate. But, it cannot be used as an argument to exclude reflection of the arguments being made. If so, it is the loss to the object of criticism and, in this case, a loss to the country too.
What are Sudeep’s exaggerations?
(1) The rupee is in a tailspin. – that is not true. Almost all currencies in the world are depreciating against the U.S. dollar.
(2) The “pain” of the currency swap that Modi and his cohorts speak of is expected to contract the economy this year. – I think he got the Ambit Capital forecast mixed up. They expected a Y/Y contraction in one particular quarter, I think. Not GDP contraction in 2016-17 or in 2017-18.
(3) The agreement with Switzerland to share information about Indian holdings in Swiss banks will come into effect in 2018, with information for the previous year, enough time to move money. – well, that is not the government’s fault. They should be complimented for closing the loop or hole on that one.
(4) including that of the first NDA government that ended its term with ignominy in 2004. – I am not sure it ended the term in ignominy, unless he means the election results themselves. But, their economic governance in the last two and half years of their term (1999-2004) was quite impressive.
Perhaps, in the final analysis, Sudeep’s article struck a chord with me because the underlying purpose of my co-authored work with Gulzar Natarajan, ‘Can India grow?’ was that a merciless diagnosis of all the wrongs and all that do not work is an indispensable foundation for eradicating them and improving on them, respectively.
About nine days ago, journalist-friend TCA Srinivasa Raghavan had shared an English translation of an article that he had written for Hindi Quint. It was a mid-term appraisal of Modi, the PM and Modi, the policymaker. He had given good marks on the former and not-so-high marks on the latter. He had written that ‘his economic policies had been socialist in their orientation’.
He is right. The NDA government’s first three budgets did not set the Yamuna, Ganges and Cauvery on fire with their imagination and bold strokes.
Even the black money demonetisation is clearly a policy in that light. The aspirational aspects of freeing up the individuals from financial repression, from other clutches of the State have not yet been given the prominence or importance as they should have been, along with the ‘cleaning of the Augean stables’. The latter is foundational and a bedrock, I admit. But, in economic policies, one has to build the foundation and the superstructure simultaneously. In construction, one has to wait. Here, it does not have to be.
I suspect that they may have something to do with the advisors who has his ears. I will shy away from using Western constructs to describe them as conservatives or liberals or Left or Right. I will simply call them status-quo ists with strong moral absolutes. Some of their economic policy proposals may appear progressive politically but they are typically distributionist policies administered by the heavy hand of the State. There is nothing in them that unleashes the productive and creative energies of the people.
Again, coming back to our report, ‘Can India grow?’, Gulzar and I had spent a bit of time and effort on writing about the leadership qualities that India needs at this stage. We have cited three or four ‘Thirukkural’s. Those ‘Kural’s stress the need for leaders to have fearless, unbiased advisors who would talk the truth to the leaders. At the minimum, the leader has to consult more widely. For now, I am not sure that it is happening in India. Will be glad if I am wrong.
Perhaps, the coming budget will prove us wrong. Hope sustains us in everything.
A penultimate point: it is one thing to dismiss habitual and pathological critics. There are many. Some of them, unfortunately, are losing their personal credibility because they have mixed up issues, exaggerated negatives, pretended that no positives exist, etc. That raises legitimate doubts about their personal agenda, even if there was none. So, their criticism is afflicted by joint hypothesis problems.
A final point: I would submit that this critique be taken away for a year-end reading, resulting in some good resolutions for the New Year!
Post-script: For the admirers of the PM Modi, if this blog post felt like a cold shower, please do check out these articles.They will be a good antidote to this blog post, if you need it.
Funny that a Hong Kong columnist should wish that Hong Kong leadership emulated Indian leadership. Hong Kong’s handling of corruption in the 1970s with high profile arrests and prosecution paved the way for the city-State to become ‘clean’ in the 20th century. India is yet to emulate that. Even the black money drive falls short of that.