Be Careful , Capitalists had started their game
ET Bureau Nov 16, 2011, 08.00am IST
Respected leaders,
A number of my industry peers and other eminent persons have written to the government to urge them to get on with governing the country without fear of political compulsions. The salient features of the two, much publicised, letters have been deficit in governance and corruption.
Day before yesterday, Mukesh Ambani urged the government to step on the gas to match the speed of the private sector and aspirations of society at large. The purpose of this letter, however, is not to add my voice to the heavyweights who have written and spoken on this issue, but to turn my attention to the opposition parties.
A number of my industry peers and other eminent persons have written to the government to urge them to get on with governing the country without fear of political compulsions. The salient features of the two, much publicised, letters have been deficit in governance and corruption.
Day before yesterday, Mukesh Ambani urged the government to step on the gas to match the speed of the private sector and aspirations of society at large. The purpose of this letter, however, is not to add my voice to the heavyweights who have written and spoken on this issue, but to turn my attention to the opposition parties.
It is acknowledged that the legitimate right of the opposition parties
is to pin down the government and the ruling party every time it shows
weakness in one or the other area of governance — be that inflation,
slowdown in economy or corruption. That the opposition parties will
magnify the weaknesses of the government in power, put forth
counterpoints and create public awareness is only to be expected.
Opposition parties by their very character wait for such opportunities, and in the last one year many such opportunities have sprung up to their delight. I know we cannot dream of a national government that could constitute the best and brightest from the ruling and opposition parties on the lines being discussed in Italy or Greece in the form of unity governments.
Historically, Abraham Lincoln ran his second term leading a National Union Government during the American Civil War. Formation of national governments during World War I, World War II and The Great Depression in the UK is well known. Even in India, we have seen political parties come together whenever the nation has faced severe crisis, be the war with China or Pakistan, or incursions in Kargil.
While India is not at war from outside, there is certainly a sense that it is in crisis from within. It is, therefore, an imperative and the need of the hour that the opposition parties rise above politics and wholeheartedly support the government in fulfilling its duties by way of passing some critical bills of national importance coming in the winter session of Parliament.
I think time has come for the leaders of significant opposition parties to ponder over the serious negative perception that is now being created for India at the global stage. The concern among investors, both FDI and in the stock markets, is palpable and being widely discussed at all forums.
OPPOSITION HAS CRUCIAL ROLE
India is hurting, not because the Indian story is over; far from it. India, a trillion-dollar economy, despite drop in expected growth rate, will continue to be one of the largest and fastestgrowing economies in the world. We need to urgently move forward with India's reforms and progress agenda which, unfortunately, cannot move without the support of all stakeholders.
In this regard, the opposition parties have a crucial role to play. There are several important bills that require the attention of Parliament and, more importantly, the support of the opposition parties in passing such bills.
I would like to name some of the 36 important legislations that await the stamp of Parliament – The Life Insurance Company amendment Bill 2009, The Companies Bill 2009, The Foreign Educational Institutions Bill 2010, The Direct Taxes Act 2010, The Banking Laws (Amendment) Bill 2011, The Constitution (115th Amendment) Bill 2011 to introduce GST, The Pension Fund Regulatory and Development Authority Bill 2011, The Lokpal Bill, The Land Acquisition Bill 2011, The Nuclear Safety Regulatory Bill 2011 etc etc.
Opposition parties by their very character wait for such opportunities, and in the last one year many such opportunities have sprung up to their delight. I know we cannot dream of a national government that could constitute the best and brightest from the ruling and opposition parties on the lines being discussed in Italy or Greece in the form of unity governments.
Historically, Abraham Lincoln ran his second term leading a National Union Government during the American Civil War. Formation of national governments during World War I, World War II and The Great Depression in the UK is well known. Even in India, we have seen political parties come together whenever the nation has faced severe crisis, be the war with China or Pakistan, or incursions in Kargil.
While India is not at war from outside, there is certainly a sense that it is in crisis from within. It is, therefore, an imperative and the need of the hour that the opposition parties rise above politics and wholeheartedly support the government in fulfilling its duties by way of passing some critical bills of national importance coming in the winter session of Parliament.
I think time has come for the leaders of significant opposition parties to ponder over the serious negative perception that is now being created for India at the global stage. The concern among investors, both FDI and in the stock markets, is palpable and being widely discussed at all forums.
OPPOSITION HAS CRUCIAL ROLE
India is hurting, not because the Indian story is over; far from it. India, a trillion-dollar economy, despite drop in expected growth rate, will continue to be one of the largest and fastestgrowing economies in the world. We need to urgently move forward with India's reforms and progress agenda which, unfortunately, cannot move without the support of all stakeholders.
In this regard, the opposition parties have a crucial role to play. There are several important bills that require the attention of Parliament and, more importantly, the support of the opposition parties in passing such bills.
I would like to name some of the 36 important legislations that await the stamp of Parliament – The Life Insurance Company amendment Bill 2009, The Companies Bill 2009, The Foreign Educational Institutions Bill 2010, The Direct Taxes Act 2010, The Banking Laws (Amendment) Bill 2011, The Constitution (115th Amendment) Bill 2011 to introduce GST, The Pension Fund Regulatory and Development Authority Bill 2011, The Lokpal Bill, The Land Acquisition Bill 2011, The Nuclear Safety Regulatory Bill 2011 etc etc.
I would appeal to the leaders of the opposition to review each one of
the pending bills in Parliament and evaluate the negative consequences
of the delay of each one of these for the nation, and therefore, its
people at large. Passing of these bills will in no way compromise the
opposition's legitimate aspiration to pin the government down in areas
where they feel they are underperforming or not performing at all.
Growth of the economy and inclusive growth go hand-inhand. Industry, trade and business provide the necessary fuel in the form of taxes for the government to fulfil its aspirations of including the aam aadmi into the mainstream.
I am aware that it is not my place to give any advice to the respected and senior political leaders, therefore, this letter be taken as an appeal on behalf of all who have seen the successful outcome of the path-breaking reform process that was started by Prime Minister Dr Manmohan Singh, the then finance minister in 1991, vigorously taken forward by the NDA government led by Shri Atal Behari Vajpayee and then again by UPA-I.
Hopefully, UPA-II, with your support, will be allowed to carry forward this agenda with increased enthusiasm.
With regards,
Sunil Bharti Mittal
No comments:
Post a Comment