Why Dr Raghuram Rajan ?
Some news agencies have reported about certain observations on the socio-economic scenario in India by Dr Raghuram Rajan, Professor, Booth School, University of Chicago and erstwhile Governor of Reserve Bank of India. No doubt he is an outstanding academician. His H index is 77, which is very high. One of his papers has been cited about 10,000 times. I won't be surprised if he wins the Nobel prize in the near future. So, one must listen very carefully to what such people say.
According to the news report, Dr Rajan's hypothesis is that India is in the grip of 'Majoritarianism' and that Majoritarianism does not improve the economic situation but is taking the country into a dark and uncertain path. I believe what he means is that the majority in India is assertive. I agree. In every country round the world this is true. It is a truism. In a democracy this is what happens. And in non-democracies like China, Pakistan etc there is a small coterie which rules through the barrel of the gun ( now bombs, howitzers, SLRs and drones too ). Dr Rajan says majoritarianism is divisive. It is not clear how this follows. It is valid to the extent that the party which gets the majority in the elections, forms the government and the Parliament is 'divided' into two broad groups - the ruling party and the opposition. This is divisive but nothing wrong I guess. Dr Rajan further postulates that in India majoritarianism means Hindutva. Hindutva has not been defined by him so I guess he means it is the way of life a follower of the Hindu religion ( like Dr Rajan himself i guess ) adopts in India. But there is a catch here. First, only 40% voters cast their vote in favour of BJP in 2019. Therefore, majoritarianism can only be of those 60%, who rejected BJP. Again, lot of Sikhs, Christians, Jains, Muslims, Tribals voted for BJP. So, logically it can't be Hindutva.
Dr Rajan also apparently states that some citizens are treated as 'others' and impossible conditions are set for their being citizens. This is a real twister. Who are these 'others' ? And based on what study/data is the venerable professor concluding so? If a country identifies foreigners living in the country without valid visa and papers, what is it supposed to do? Let Dr Rajan try to live like that in the US and see what Homeland Security has to say about it ?
Dr Rajans logic seems to be as follows. India is in the grip of majoritarianism (whatever he means by the term ). Majoritarianism = Hindutva. 'Others' are facing harassment to prove their citizenship. And all this has the cumulative effect of driving India away from economic recovery and into some dark and obscure corner.
The worst projection of GDP growth rate for India is 6%, one of highest in the world, despite doomsters saying Demonetisation and GST and transfer of RBI reserves to government would ruin the economy. Immense work has been done in the last five years in the social sector. Dr Rajan knows that there is bound to be a lag before these social sector benefits impact the economy. Same is the case with the tremendous growth in road infrastructure. As a result of GST and good roads the economics of long distance road haulage of goods has significantly improved. But again there is a lag before this is felt in the economy. Real estate slowed down because black money transactions were made difficult. All economists have always advised for structural changes in the economy. Now when the government is doing this, Dr Rajan is presenting this very confounded hypothesis which prima facie appears untenable. I wonder why.
Dr Rajan should remember, different people get opportunities to work for this beautiful nation of ours at different points of time. As an IAS officer I got the opportunity to be the Agriculture Secretary of India. I tried my best to improve the sector. Then my successors came, then their successors, each trying to do his bit. And so it goes on. If I take the position that it is me alone who understands the subject and none of my successors do and if the government does not go by my advice always then they are 'a bunch of fools', then it is time I consult my shrink. Nation building is much more complex than economic model building. I have 8 top academicians in my family. One was a professor in University of Chicago itself (Late Partha Niyogy, Louis Block Professor of Computer Science). The best part I like about them is their humility. They accept that ' they are just gathering pebbles on the shore of the vast ocean of knowledge'.
Jai Hind!
Vande Mataram!
P K Basu IAS (R)
Former Secretary Agriculture, GoI
Former Member, Central Administrative Tribunal
Make Dr. Subramanian Swamy Finance Minister
Dr. Subramanian Swamy should be brought in as Finance Minister immediately to develop Indian economy.
Rajendra Pralhad Patil
According to the news report, Dr Rajan's hypothesis is that India is in the grip of 'Majoritarianism' and that Majoritarianism does not improve the economic situation but is taking the country into a dark and uncertain path. I believe what he means is that the majority in India is assertive. I agree. In every country round the world this is true. It is a truism. In a democracy this is what happens. And in non-democracies like China, Pakistan etc there is a small coterie which rules through the barrel of the gun ( now bombs, howitzers, SLRs and drones too ). Dr Rajan says majoritarianism is divisive. It is not clear how this follows. It is valid to the extent that the party which gets the majority in the elections, forms the government and the Parliament is 'divided' into two broad groups - the ruling party and the opposition. This is divisive but nothing wrong I guess. Dr Rajan further postulates that in India majoritarianism means Hindutva. Hindutva has not been defined by him so I guess he means it is the way of life a follower of the Hindu religion ( like Dr Rajan himself i guess ) adopts in India. But there is a catch here. First, only 40% voters cast their vote in favour of BJP in 2019. Therefore, majoritarianism can only be of those 60%, who rejected BJP. Again, lot of Sikhs, Christians, Jains, Muslims, Tribals voted for BJP. So, logically it can't be Hindutva.
Dr Rajan also apparently states that some citizens are treated as 'others' and impossible conditions are set for their being citizens. This is a real twister. Who are these 'others' ? And based on what study/data is the venerable professor concluding so? If a country identifies foreigners living in the country without valid visa and papers, what is it supposed to do? Let Dr Rajan try to live like that in the US and see what Homeland Security has to say about it ?
Dr Rajans logic seems to be as follows. India is in the grip of majoritarianism (whatever he means by the term ). Majoritarianism = Hindutva. 'Others' are facing harassment to prove their citizenship. And all this has the cumulative effect of driving India away from economic recovery and into some dark and obscure corner.
The worst projection of GDP growth rate for India is 6%, one of highest in the world, despite doomsters saying Demonetisation and GST and transfer of RBI reserves to government would ruin the economy. Immense work has been done in the last five years in the social sector. Dr Rajan knows that there is bound to be a lag before these social sector benefits impact the economy. Same is the case with the tremendous growth in road infrastructure. As a result of GST and good roads the economics of long distance road haulage of goods has significantly improved. But again there is a lag before this is felt in the economy. Real estate slowed down because black money transactions were made difficult. All economists have always advised for structural changes in the economy. Now when the government is doing this, Dr Rajan is presenting this very confounded hypothesis which prima facie appears untenable. I wonder why.
Dr Rajan should remember, different people get opportunities to work for this beautiful nation of ours at different points of time. As an IAS officer I got the opportunity to be the Agriculture Secretary of India. I tried my best to improve the sector. Then my successors came, then their successors, each trying to do his bit. And so it goes on. If I take the position that it is me alone who understands the subject and none of my successors do and if the government does not go by my advice always then they are 'a bunch of fools', then it is time I consult my shrink. Nation building is much more complex than economic model building. I have 8 top academicians in my family. One was a professor in University of Chicago itself (Late Partha Niyogy, Louis Block Professor of Computer Science). The best part I like about them is their humility. They accept that ' they are just gathering pebbles on the shore of the vast ocean of knowledge'.
Jai Hind!
Vande Mataram!
P K Basu IAS (R)
Former Secretary Agriculture, GoI
Former Member, Central Administrative Tribunal
Make Dr. Subramanian Swamy Finance Minister
Dr. Subramanian Swamy should be brought in as Finance Minister immediately to develop Indian economy.
Rajendra Pralhad Patil