* Apropos Current accountability deficit by Shekhar Gupta (IE,August 24),the writer is correct to point out that the devastation of mining and manufacturing industries by UPA 2 has caused the economic crisis we find ourselves in today. Most projects and foreign investment proposals that have been stalled are related to these sectors. To add to the misery of industry,the government is paralysed by a lack of decision-making. The revision in the price of natural gas was a step in the right direction and long overdue. I feel the current situation of our economy is even worse than the pre-1991 days. Not so long ago,a regular press conference used to be held to announce foreign investment projects. They seem like a distant memory now. The discontent among foreign investors in not limited to the mining and manufacturing sectors. It has spread to the telecom and retail sectors too.
* Shekhar Gupta’s analysis of the effects of the policy freeze and misguided activism of UPA2 on the CAD was spot on. I would like to add that it is not just the Congress party,but the entire political establishment,cutting across party lines,that has never fully accepted that private capital,whether domestic or foreign,and investor sentiment are critical for the health of the economy. They must come to terms with the fact that private capital must be given a chance to flourish and earn profits legitimately. The political class must accept that the government has to set the terms of the functioning of private business in a fair and transparent manner. Entrepreneurship is something to be celebrated and encouraged,not reviled and held as suspect.
* Apropos Six regional parties could decide next PM: Pawar (IE,August 25),so far,coalition governments have either been led or supported by one of the two main parties: the Congress or the BJP. With a few exceptions,our PMs have also been from one of these parties. The situation is unlikely to change in the 2014 elections. The six parties that Pawar mentioned the SP,BSP,JD (U),TMC,BJD and AIADMK barely even get along with one another. There are too many egos and prime ministerial ambitions in the mix for the third front to be a viable coalition. Moreover,coalition governments are not in our countrys interest. The alarming state of our economy is partly due to the UPAs coalition compulsions.
Restraint is key
* The attack on FTII students by members of the ABVP was shocking and cowardly. It was totally uncalled for. We must not allow political and ideological differences to degenerate into violence.
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