Monday, June 1, 2020
Home Opinions This statement of PM Modi on industrialists that no govt has dared to make...

This statement of PM Modi on industrialists that no govt has dared to make so far, has the utmost pertinence

Also Read

anujaggarwal
Anuj is a final year law student at Delhi University awaiting his results. He has frequently contributed Op-ed to numerous forums such as Organiser, OpIndia, Pragyata and often writes blogs on economic and policy issues at Swatantraopinion.wordpress.com. In his free time, he likes to read books on economics, politics, and culture.

The Prime Minister while speaking at the launch of various development projects in Lucknow on Sunday, made a noteworthy comment that should have been uttered by yester prime ministers long ago. He essentially claimed to be a politician not afraid of standing beside industrialists. He also asserted that they have an equal share in the growth and development of the country as compared to any farmer or a banker. A statement that is apparent and incontestable. Yet, it took about six decades for a prime minister to be able to make it albeit with still pending repercussions of opposition hoping to twist it.

This is because unfortunately for us, our nation developed with a misguided perception of ‘Original Sin’ for industrialists. The government convinced itself and then its people, to view industrialists with suspicion. It convinced the people to consider their profits as fruits of corruption, their wealth a result of colluded loot and their properties, an organised land-grab. Thereafter, in the garb of this manufactured perception, it became imperative to control this greedy capitalist class. In effect, the economy was burdened with price controls, quotas, licenses, permits, ceilings and restrictions. All this was done to ensure that the rich don’t get any richer and the poor gets his fair share of resources.

However, merely harbouring good intentions don’t culminate in better outcomes. The net result of this governmental strangulation of the market was that the people who had the means, ability and resources to wade through these restrictions were able to sail through. In return, they left a grotesque machinery, a kind of parallel economy, where the writ of bribes, kickbacks and payoffs ran large. It did put a strain on their business but not on their wealth. It ensured that no new person gets to be a part of this club with governmentally granted exclusivity. Occasionally, an Ambani managed to trick the system but for the most parts it was rigidly restricted and rejected any aspirants with good ideas.

 

This nation’s tallest industrialist bears a testimony to this; J.D.R Tata continuously and painstakingly tried to convince Pandit Nehru and Indira Gandhi to mend their economic follies but was throughout told to zip it. He was thoroughly rewarded for his pieces of advice by having his Air India, Air India International and insurance outfit nationalised by the government. Meanwhile, we lost valuable time and essentially went backwards. Taking the example of Tata again, it used to manufacture armoured vehicles before independence but thereafter defence was taken out of the private sector’s domain. The result is India is still one of the largest importers of defence hardware in the world and yet struggles to adequately equip the armed forces. The tendency to distrust, demonize and defame the industrial class has cost us decades of development.

The previous UPA government relapsed in this self-perpetuated tendency with the horror of retrospective taxation. There are visible signs of UPA submitting to it again with no reasonable economic thought ever being put forward by the Gandhi Scion. It is, therefore, refreshing to have a politician speaking for industrialist and not casting the habitual suspicion as with mindless ‘Suit-boot’ jibes. This aggressive defence of the industrial class could guide India’s economic destiny for the coming years.

- advertisement -

  Support Us  

OpIndia is not rich like the mainstream media. Even a small contribution by you will help us keep running. Consider making a voluntary payment.

Trending now

anujaggarwal
Anuj is a final year law student at Delhi University awaiting his results. He has frequently contributed Op-ed to numerous forums such as Organiser, OpIndia, Pragyata and often writes blogs on economic and policy issues at Swatantraopinion.wordpress.com. In his free time, he likes to read books on economics, politics, and culture.

Latest News

Action with speed and precision: PM Modi Part II

in second term PM Modi is working speedily with precision and for the aspirations of 130 crore Indians.

Regional Benches of Supreme Court in your Homes?

While reluctantly acknowledging that the resort to Videoconferencing by Supreme Court and High Courts may be the need of the hour, at this moment of time, it ought not to stay beyond a minute of its need.

साउथ कोरिया में संघ जरूरी क्यों

मैं विग़त 8 महीनो से साउथ कोरिया में रह रहा हूँ। यहाँ भारतीय लोगों की संख्या क़रीब 13 हज़ार हैं। पर एच॰एस॰एस न होने के आभाव में मैंने महसूस किया है, कि भारतीय लोग संगठित नहीं हैं। और संगठित नहीं होने के कारण लोग अपनी संस्कृति से दूर जा रहे हैं।

Why is China so aggressive?

The Chinese Ox is in the China shop destroying China itself with it's desperate attempts to fool it's citizenry, and one way or other this will not end well for China.

Media: A stain on democracy

if media houses (considered as fourth pillar of democracy) really want to help migrant workers they should have done that and this crisis was got resolved till now, but what they worried for is just only for their so-called "prime time show reports".

पंथ, समाज शास्त्र और अर्थशास्त्र

भारत वो देश है जहाँ सनातन संस्कृति में कई पंथों ने जन्म लिया और लोग अपनी स्व: इच्छा से इनसे जुड़ते गए। क्योंकि सनातन ने ये आज़ादी सभी को हमेशा दी की आप अपने पंथ को व्यक्तिगत तरीके से चुने।

Recently Popular

MNS bares its anti-Hindu fangs

Raj Thackeray’s haphazard attempt to relaunch his party as Hindu outfit has failed, leading to desperation and cheap politics.

साउथ कोरिया में संघ जरूरी क्यों

मैं विग़त 8 महीनो से साउथ कोरिया में रह रहा हूँ। यहाँ भारतीय लोगों की संख्या क़रीब 13 हज़ार हैं। पर एच॰एस॰एस न होने के आभाव में मैंने महसूस किया है, कि भारतीय लोग संगठित नहीं हैं। और संगठित नहीं होने के कारण लोग अपनी संस्कृति से दूर जा रहे हैं।

In conversation with Nehru: On Savarkar’s mercy petitions

This conversation is only an attempt to present the comparative study of jail terms served by both Savarkar and Jawaharlal Nehru.

भगवान श्रीराम का वनवास जो 500 वर्षों के बाद समाप्त हुआ: श्रीराम मंदिर निर्माण की अनंत कथा

अंततः श्रीराम विजयी हुए, भारतवर्ष विजयी हुआ, हिन्दू विजयी हुए और इस संघर्ष में दिए गए सहस्त्रों बलिदान सार्थक हुए।

Ajaz Ashraf, of The Scroll, with his WRONG interpretation about a freedom fighter, says Savarkar justified the idea of rape as a political tool

Savarkar quotes Ravana saying, “What? To abduct and rape the womenfolk of the enemy, do you call it irreligious? It is Parodharmah, the greatest duty!” The actual text quotes in Sanskrit as राक्षसांनां परो; धर्म: परदारा विघर्षणम् However, what the Scroll writer conveniently ignores is “राक्षसांनां”. According to the quoted statement, it’s the duty of a demon/monster.