POLITICIANS AND POLICIES
Politicians generally exaggerate the benefits of their policies. Present regime in our country and their politicians are no exception. It doesn’t mean politicians before them are good, certainly not, only they vary in degree. Despite the ill effects of demonetization and rushing the faulty implementation of GST and its incalculable damage to economy, present regime shamelessly defending these measures is somewhat intriguing. Previously when politicians proved to be wrong, used to keep silent or evade those things in public debate. Present law makers seems to be made up of different breed. Since 2014 when BJP came to power, the political and social narrative has changed dramatically. Dissent which is the cornerstone of democracy has been brushed aside with impunity. Any critical comment against government policies are viewed as anti-national. If we suppress the alternative views then there is danger of India becoming a totalitarian regime or banana republic. In some states citizens feel that cows have better rights and protection than human beings. Our political regime has been thumping the chest that India will be third largest economy in years to come. Have we critically looked at where we stand as country in the comity of nations? Is such exuberance justified?
Let’s look at the important policies that have an impact on large percentage of citizens.
Education: Education is in real shambles. Take education from primary education to collegiate education or even professional education, where do we stand? Has any of our education institutes figure in world best 200? Government run primary and secondary education lack rigour, infrastructure and quality of teachers is pathetic. What is the percentage of GDP we are spending on the education? Education is only tool through which we build capabilities of people. Even though we boast of third largest educated pool, yet 50% of them are unemployable. Private education is mushrooming which is beyond the reach of common man. The way these institutes fleece common man is something you need to see to believe. Yet government is aloof and not intervening because these institutes are run those big wigs who contribute funds to political parties. Of late syllabus of schools/colleges is modified or revised to meet the partisan ends of government in power in many states. This trend is dangerous and education should be such it should be non-bias and make students think critically and independently.
Healthcare: Recent incidents at Fortis hospital and Max hospital adequately reveal the rot, inhuman practices and the fleecing of general public by these corporate hospitals. If government hospitals provide adequate care and the facilities are good, why do common man has to go the corporate hospitals? Look at the government hospitals they lack basic infrastructure combined with callous attitude of doctors and health regulators can make common man dread to enter into the government hospitals. Nation has watched with an aghast the death of more than 70 children in Gorakhpur and 49 children Farrukkabad Government hospitals, Has anything changed after that? Governments are so callous about citizens and their health. There is corruption everywhere and the medicines are also adulterated, this is what our great country is. What is the kind of percentage of GDP we spend on the health care? Everyone knows the malady that is afflicting our country in general and health care in particular.
Banking systems and FRDI bill: Sometimes I wonder how these public sectors banks can loan such huge amounts to those without adequate security and make them NPAs. There is clear cut collusion between these bank staff and corporates who have taken the public money and not paying it. The bad debts amounting seven lakh crores and recently government has infused the more than 2 lakh crores of money into banking system. This money is public money and there is no accountability. What is the accountability of these banks and their managers who have lent money to such companies or individuals without adequate collateral security? If common man wants small amount of loan the kind of documents and securities these banks ask are mind boggling and yet unscrupulous people get away taking large sums of money amounting thousands of crores and can get away with it. Why those bank managers cannot be held responsible and charged with fraud? There is lot of political interference in such lending.
To add to the vows of general public, government had introduced FRDI bill. The Financial Resolution and Deposit Insurance Bill (FRDI) aims to set up a resolution corporation which will monitor financial companies, categorise them as per their risk profiles and step in to prevent them from going bankrupts by writing down their liabilities. On the face of it looks pretty good but the fear stems from the bill's bail-in clause which empowers the resolution corporation to rescue a failing financial institution through the help of creditors and depositors money. Bail-in is, however, one of the many options to rescue a financial institution on the brink of failure. In case of bail – in depositors money will be used for that and the depositors will be issued shares which are worthless and what happen to those people who have deposited the money for rainy day or for exigencies such as marriages or education of children.
I can go on and talk on many issues but let me confine to those three things. I am tempted to write on Farmers and Agriculture distress but I am sure the public is well aware of the distress and suicides and callous attitude of governments. Farmer who grows food for millions of citizens is not taken care of, what a tragedy!
We can thump our chest of becoming an economic power in near future, my simple question is “if you cannot provide simple things like food, clean drinking water, reasonable education and semblance of health care what if we become a great economic power?”
Professor at International School of Business & Media
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