Even keep all the factors aside- the global/external economy turmoil, scams, corruption, bad/failed governance, falling IIP, policy paralysis, Govt inaction, Lokpal log jam etc, just wondering what if it was a bad to worse monsoon in 2010 or 2011! Then was it possible to recover from the second recession/dip!? Would a bad monsoon prompt or force the Govt to take concrete real positive action and implementation instead of complete disaster inaction or some show offs like some bills passed for the name sake just as today the 13Dec2011? Well, India still should fill lucky as no big natural disaster has happened in the past two years. That will be the last thing any body would even fear.
Regarding the stock markets: well, when there is clarity, growth, affirmation, automatically money in form of FII (yes, that’s the reality, FII flow has been the determining factor on which side the market trend is!) will flow into the Indian markets, in fact, the right strong growing companies’ stocks. In fact, the current situation in the global arena is the best opportunity for India to act right, and automatically many things will fall in place. India, don’t miss this opportunity, you have missed it just earlier. As opportunity doesn’t knock the door twice at least so immediately.
Now coming back to the implementation/functioning, no doubt a clear anti-corruption practice/system at least will kinda make sure whatever is happening, positive or negative is not a show off or hidden scam or trap. I am not sure how a big (yes, big, we need even a big one practically) Lokpal or anti-corruption body/department/system will also remain corruption free practically until we really inculcate the anti-corruption culture not just in the heads but in practice as our very character.
(Well, I know and believe the roots of India than any part or country in the world are still very strong but the display has been completely dormant, actually no show at all! It’s time to switch from hibernate mode to normal system mode.)
~ Prabeen Kumar Pati