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LOCAL & GLOBAL IMPERATIVES -A dilemma for economic development

It is indeed heartening to learn that despite on unprecedented gloomy specter of worldwide recession, Indian economy has niched a formidable place among world economics. While the public sector may pride itself in providing basic infrastructure or impetus accruing out of governmental politics, the main credit for this shinning growth legitimately belongs to Private sector for its enterprising spirit of capitalizing adversity to its advantage. It is true that like any other economy, Indian economy has also suffered vicissitudes of time and passed through dark patches. But owing to its sheer tenacity to meet the challenges with courage & conviction and pursuing sound policies for making judicious use of manpower and resources it could pull off successfully despite many odds. It is gratifying to know that it has become a force to be reckoned with in the midst of world economies next only to China.


Given the peculiar socio-political dynamics of our Indian economy, unlike any other economy in the world, had to suffer many roughshod no less insurmountable on home pitch also besides struggling hard for its survival in the competitive arena of world economics. In this backdrop the growth profile of our economy is definitely a remarkable & spectacular one. It could not have scripted such a glorious history for itself, had it not acquitted in a disciplined & responsible manner. If it had not charmed our talented youth towards vast avenues of lucrative and dignified jobs in its fold, this could not have been possible.


In this context of our economic scenario, any itching on the part of the government to tinker with our private sector by introducing some retrograde policies in it under the garb of social reforms sounds anachronistic and strikes a jarring & discordant note. If allowed, it would deal a death blow to our budding economy which we can ill afford to have at this comfortable juncture of its success.


Though social upliftment of backward & down trodden strata of our society may be a prime objective of our government, thrusting this agenda on private sector to reap political mileage out of it in the name of social reforms would be a highly retrograde step. It is a charade to fool our gullible masses as it would defeat the very purpose for which so called reforms are sought to be introduced. If allowed initially it may present a façade of growth & development but eventually curtail & diminish the avenues of well being and welfare of the very class of people for whom government seeks to open the same in private sector. This approach would dampen the tempo of our growing economy and force our industries to seek suitable pastures elsewhere. This way we will be pennywise found foolish.

Therefore the recent missive of our Hon’ble social justice minister to Hon’ble P.M to address the so called affirmative action in private sector too is wholly untenable & unproductive proposition to say the least.   

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