Manomhan Singh
He is known as liberator of Indian Economy . He is credited with transforming the economy in the early 1990s during the financial crisis. He was hand picked for the Finance ministers office in 1991 during the term of P.V. Narsimha Rao as a Prime minister, before that he served as the Governor of RBI from 1982-85. He entered the post when the Indian economy was stuck in a quagmire -- its foreign exchange reserves were near rock bottom, and the country was close to defaulting on its international debt.
He brought number of economic policies in India's capital markets to put back India on the path of Globalisation, some of the reforms that were made during his term was the removal of "License Raj" where people have to wait for Government approvals before starting with any buisness, he streamlined the SEBI guidelines and set a path for direct foreign investments in the Indian market where FIIs can directly invest in to Indian markets....It was after this Indian Markets saw huge amount of influx from the FII. This is evident from the fact that the total foreign investment in India grew from a minuscule US $132 million in 1991-92 to $5.3 billion in 1995-96(nearly 50 times).
Based on the facts and figures stated above there is no doubt that Manmohan singh is a very successfull economist and also yields a very high amount of respect across the world.......
As a Politician
This man has huge number of degrees from very high profile universities which I think no other Prime minister before had and along with that he also carries huge amount of experience with him under the white long beard which he has gained after serving for more that 3 decades in different government posts, so there is no doubt that this man is highly qualified for the role of a Prime minister which he took over in 2004 May, lot was expected of this man when he took over the office, but a very little of the expectations actually fulfilled, in spite of the fact that under his regime India’s GDP is growing at the rate of 9% per year. I feel that this man has actually achieved a very few as a PM than as a FM in 1991.
Some also say that he is a good economist but not a politician. Narayan Murthy once in a interview said that he(Manmohan Singh) is leading a very fragile coalition…I think this one line from murthy says a lot and actually answers the question why was this man not successful as a Prime minister inspite of his capabilities.
Following are some of the questions that remain unclear to me.
1. Does this imply that however capable the person sitting at the top is he wont be able to make a difference to the system until and unless the people with him are also supportive enough?
2. If the answer to above question is Yes, then with the completely corrupted politics in India how will India see a great change and how can it become a superpower?
3. Is it possible to form a political party by plucking some of the highly qualified and successful bureaucrats that India have produced and will this party be able to make India a superpower successfully.
Wednesday, March 12, 2008
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3 comments:
This has a lot to do with the Indian pseudo-democracy. The masses never vote objectively. Thought, lack of education kicks in, it has a lot to do with the blind voting in favor of the Nehru-Gandhi dynasty.
Agreed that illiteracy is a factor but what real options that the literates also have?
Do they have one, because the entire political system is corrupted?
I agree that he is better an economist than a politician. Answers to ur ?s:
1) To make diference to the system, one definitely need support of others. Because, all the people together forms a system. If one is capable enough to make others support, he might make the difference.
2) Now that above answer is yes, India can see change through above said kind of capable people.
3) It is possible to form a party like said; it can be able to make India a superpower.
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