By 11.59pm (2359 hrs) on the 25th of May 2015; Mr. N. Modi would complete 1 full year as Prime Minister of India. Have seen several articles issuing his "report card" for the period. But the general consensus within the voting population is that the PM would probably score a C (for Can do better) for his own performance; while his government gets a big D (for disaster). Even their ardent supported - Baba Ramdev seems to agree with it. Well it's certainly a lot better than the F (for F@#K off) that the Nation gave to the previous PM and his government - booting it out last year.There is growing belief that the "Acche Din" or good days promised by the PM were not exactly meant for everyone. Neither the "Jawan" (soldier) nor the "Kissan" (farmer) and not even the 'Aam Admi" (Common Man) entirely thrilled with the new rule despite a spate of policy announcements supposedly meant to favour them. His "Swachh Bharat" (Clean India) and "Beti Bachao - Beti padhao" (Save the daughter - educate the daughter) initiatives were both well meaning; but both have yielded very little success. In fact the mummer is getting louder by the day that a lot of the money allocated for social uplifting schemes has been misused if not siphoned. The government's claim of arresting prices of essential daily use items is a laugh and one to create a stable tax regime a bigger laugh based on what the nation is experiencing. The Indian economic story looks like an insane roller coaster on the back of a falling rupee - rising oil prices - falling industrial output - rising uncertainty in tax and financial policies - falling agricultural output - rising trade deficit. India suddenly looks like an uncertain overpriced market from an equity perspective; and that was until a month back the only one dancing with joy.
It may look like there were too many expectations from all quarters; and for some time eveb the global situation seemed to conspire in making Mr. Modi's vision statement come true. But Oil is back in the 60s; there is a US election looming next year; and Europe is figuring out how to teach German (fiscal control) to the Greeks in addition to several other global headaches that directly or indirectly impact India. Now; industry feels the government talked big and delivered very little. Many blame Modi's duality when it comes to decision making as a reason for not being able to walk his talk and others the excess baggage in terms of his fundamentalist mentors in the RSS. Mr. Modi has certainly realized that running India is no where like running a single state. Fortunately, the PM has worked his charm overseas in practically every nation that matters; and that in a way may be the saving grace for a better India tomorrow. I for one believe that the world sees turbulent Indian scenario as an investment opportunity; and if you don't believe me just take a look at the investment pouring into India's e-economy from foreign investors.
Well; Rome (referring to the empire)was not built in a day; and given time many of this government's policies will bring in changes for the better. If not; the new improved better than before rebooted Rahul Gandhi and his merry men are preparing to take back Parliament house in 2019.
Going by whatever is happening now - here are my 10 wishes for an India in 2019:
- Abolishing of personal income tax - hence no black money - made possible by a high GST (Goods and Services Tax) and reasonable flat rate Income Distribution Tax (a tax deducted at source) on interest, dividends, and salary.
- Corporate Income Tax linked to (transparent) turnover rather than (manipulable) profit.
- Public servants doing the job they are paid for; respecting the Citizens of India - the people they are supposed to serve; without resorting to corruption and harassment.
- Clean India - start off by shutting down polluting industries; at least along our major rivers.
- The completion of the "Rajdhani Shinkasen" train line that will make commuting from Delhi to Mumbai in 5 hours along the DMIC corridor.
- Converting the 10 major Cities of India into SMART Cities before building out new ones. Can be done with the US$ 10 billion Korea is committing specifically for it.
- Achieve 30% of its energy requirement through renewable - sustainable means.
- Attract at least 10 million of the (5%) of 200 million tourists outbound from China.
- The "Swachh Bharat" scheme bearing fruit; possible only if stricter punishment is brought in for offenders. But for that there would have to be a ban on a whole lot of plastic packaging that contributes to waste pollution.
- I would like a "Shanth Surakshak Bharat" (quiet and safe India) scheme being implemented as a lack of traffic sense and road etiquette is responsible for a lot of avoidable anxiety and deaths.
While the tempting thought of seeing the Rupee Dollar exchange rate to go below 50:1 may be a pipe dream; most of what I have tabled above as a wish list are not.
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Abe pitches for Shinkansen system for bullet trains in India
The Shinkansen bullet train system is world's first system for high speed trains running up to 320 kmph
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The Shinkansen bullet train system is world's first system for high speed trains running up to 320 kmph
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South Korea offers $10 billion for smart cities
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India and China sign deals worth $22bn as Modi ends visit
BBC 16 May 2015
http://www.bbc.com/news/world-asia-china-32762930
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