Even as the Bharatiya Janata Party (BJP), under Indian Prime Minister Narendra Modi, unveils economic measures to boost the country’s growth rate, it should be advised to fashion a proper business work ethic. There is no room for ambiguity, bureaucracy, redtapism and opacity if India is to be re-positioned on the path to economic progress. A higher growth rate has been envisaged if the government ensures that checks and balances are in place and it conforms to due diligence rather than high-handedness in decision-making.
The success of the ongoing coal auctions is creating a positive buzz, but it is also a cautionary tale — if the court’s summons in the coal block allocation scam case to former prime minister Manmohan Singh and high-profile industrialists like Kumar Mangalam Birla are analysed.
There is a price to pay for randomness and bad policy, even if it does not add up to corruption. Manmohan probably realises this on hindsight and Modi must also pay attention to detail. The Indian voter will not forgive unprofessionalism — parties comprehend that it is electorally unaffordable and economically unfeasible. The United Progressive Alliance under the leadership of Congress party, was left to reflect on what might have been had their policies been more transparent despite posting a modest growth rate. Modi and his government cannot afford to make the same mistakes.
