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Journalism of Courage
The sharply divergent views on disinvestment held at the highest levels of government, along with other unhappy developments like S038;P8217;s downward rating of the Indian economy, have dented the country8217;s image as a business destination considerably. It was, therefore, in the fitness of things that the prime minister set the record straight at the India-ASEAN Business Summit in Delhi on Thursday. He told his audience that, notwithstanding the process of debate and dialogue, of reconciling divergences before arriving at a consensus, which typically marks economic policy-making in a democratic dispensation, this country is committed to the process of liberalisation. Indeed, having set a growth target of 8 per cent for itself, India has no other option, he underlined.
The prime minister8217;s words come as a much required corrective at an important forum representing economically energetic Southeast Asian economies. Hopefully, he was successful in convincing his foreign audience. But that, really, is the easy part. The far more daunting task ahead of him is to carry his own party 8212; and the Sangh Parivar in general 8212; with him as his government attempts to put its money where its prime minister8217;s mouth is. This is easier said than done. Already a section of BJP leaders has begun to complain in right earnest about the party8217;s economic policies. They point to the rising price of petroleum products, the talk of a possible increase in cooking gas, a freeze in Dearness Allowance and howl that all these measures are hurting the interests of their core constituency, the middle class. It was an argument, remember, that got them to lay their hands on the union budget of 2002 and squeeze it out of shape, rendering it meaningless in the process.
