Macro- econmic stability Without Structural reforms ( Noovember 2017 )

I am extremely worried about the hasty and patchy pace of reforms, absence of strong infrastructure in order to stabilise reforms, absence of human development goals as an integral part of the strategy, wrong sequencing of reforms, absence of wider development strategy, lack of roadmap to covert unskilled labours into skilled through a coherent training programme, inconsistent and loosely coordinated fiscal and monetary policies, etc. In order to boost investment, India needs to prioritise market-based pricing of natural resources and address delays in implementation of infrastructure projects. India needs structural reforms to reduce bottlenecks to investment – such as cumbersome environmental clearances, lack of clarity regarding land acquisition, backward power linkages, etc. The government should come with a systematic approach to deal with these growing problems to get rid of poverty and other structural constraints. I strongly believe that India needs to completely revamp its policy of governance and work culture. The unworkable manifestoes of the political parties should be discouraged. The government is required to help only those who can help themselves. The unwarranted parasitic protectionist policy should be done away. The people of India must understand that development can take place only when we change our behaviourial pattern of the voting. The government can generate a powerful economy only when it is given an opportunity for asset creation. At present, we compel the government for conspicuous consumption and not for asset creation. The transition from conspicuous consumption to asset creation is the only way to bring macro-economic stability in the country.