Wednesday September 26, 2018
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Rise of PM Modi and roar of subversive forces

To counter PM Modi opposition leaders are desperately getting aligned with anti-India forces

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Narendra Modi
Prime Minister Narendra Modi (Wikimedia commons)
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– By Salil Gewali

If your son makes friendship with the difficult and longtime enemies of your own family/clan then how do you describe him and how do you feel about your future? Will it not be likely to open the door to countless tragedies? But in India, such thing is now being openly celebrated. For past couple of years or more the political leaders of certain parties have been taking the wrong step forward in having closed-door meetings with the leaders of Pakistan/China. What transpires among themselves is obviously against the present government and the nation’s fundamental ethos. Those leaders have often been heard to be sympathetic towards the terrorists or those who “roar against the nation” or against its patriotic values. Yes, those leaders jump forward to defend them who wreak havoc with the “peaceful citizens”.   Some leaders are apologetic that certain NGOs/media/religious bodies should not be harassed in the name of fighting the terrorists and ISIS. This is how country’s leaders defend the dangerous postures of dangerous outfits. Will this trend not invite greater troubles to the nation in future?

One wonders how the apex judiciary of the country just allow the political parties to pour out their pent-up anger before the leaders of neighbouring countries who are always aggressively in the combative mood. Why is the Supreme Court silent on such blatant subversive activities?

Very recently, one senior leader of the national party even scoffed at Prime Minister Modi by calling him a depraved being “Neech”. What are the criteria for one being morally low? Has PM Modi fallen short any standards of the integrity since he works sincerely hard and formulates innovative plans and schemes for the greater welfare of the nation? Well, has he not been constitutionally elected by the people of this country? Why the media is less aggressive and more defensive for those “transgressors” who wield daggers behind the cloak.

Whatsoever be the political dispensation at the center, such open rebellion against the government will not augur well for the nation and its 1.25 billion citizens.

Salil Gewali is a well-known writer and author of ‘Great minds on India’. Twitter Handle @SGewali

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Fall Of The Currency And Increase In Oil Prices: India ‘s Turmoil

The falling rupee has given a boost to some of India’s most lucrative exports, such as software services and pharmaceuticals, which add up to billions of dollars.

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India
Rajesh Kumar, left, shares a ride to work with another employee, Dilip Swain, right, as higher petrol prices in India begin to be felt in people's pocketbooks.VOA

The fall of the currency of India to record lows and rising global oil prices have raised worries that the world’s fastest growing economy faces headwinds that could hurt the fortunes of Prime Minister Narendra Modi’s party in next year’s general elections.

From people filling fuel at gas stations to thousands of students heading out to study overseas, the impact of the slumping rupee is sparking discontent.

Having plunged by about 12 percent against the dollar this year, the rupee is one of Asia’s worst faring currencies, and as in other countries, the slide has accelerated since the crash of the Turkish lira.

“The reasons are global. We must bear in mind that in last few months, dollar has strengthened against almost every currency,” said Finance Minister Arun Jaitley recently as he tried to send out reassuring signals that India’s economy is on track.

India
The rupee has plunged by about 12 percent this year raising fears of spiraling inflation. VOA

The rupee’s sharp depreciation comes at a time when the economy had recovered from a slowdown and surged to a two-year high in the quarter that ended in June. Forecasts put growth for this year at 7.5 percent.

Economy will slow

But economists warn this momentum will be difficult to sustain as the tumbling rupee, along with rising crude oil prices, takes a toll on growth. India, the world’s third largest oil importer, gets almost 80 percent of its fuel needs overseas.

“The government needs to mellow down on growth aspirations,” said N.R. Bhanumurthy, economist with the National Institute of Public Finance and Policy. “The growth needs to come down to a little less than 7 percent.”

Even as the government faces the prospect of a slowing economy, it is under pressure to lower taxes on gas and diesel to bring down the sharp rise in prices. Fuel is one of the most heavily taxed items in India, with rates as high as nearly 50 percent. Prices vary from state to state, but they have gone up by about 14 percent this year.

Hoping to cash in on the growing disaffection over the surge in fuel prices and the sliding rupee, opposition parties led nationwide protests that shutdown offices and schools in several cities this week.

India
Discontent with spiraling fuel prices poses a challenge to Prime Minister Modi’s Bharatiya Janata Party ahead of general elections next year. VOA

The government dismissed the protests, saying that although people faced momentary difficulties, they understood they were because of factors beyond its control.

Political analysts are not so sure, pointing out that fuel prices are a politically sensitive issue in India and usually result in a spike in inflation.

“Anger is rising, there is resentment,” said Satish Misra at the Observer Research Foundation, warning the ruling party will face a backlash “Obviously that is going to have a negative impact on the electoral fortunes of the Bharatiya Janata Party, there is no doubt about that.”

Warnings from economists

Among those who are upset with the high fuel prices is Rajesh Kumar, who commutes 30 kilometers to the advertising agency where he works. Hit by the higher prices that eat into his income, he has started sharing the ride with another employee.

India
Narendra Modi. Wikimedia Commons

“I have given up the idea of buying another car,” he said despondently. “I will not be able to afford the cost of running it.”

Economists however have warned the government against giving in to populist pressures ahead of a series of state polls later this year and general elections around April next year. They say lowering taxes on fuel or taking measures to prop up the currency will strain the country’s finances and hurt the economy in the long run.

Also Read: Diverse Gathering To Be Addressed This World BioFuel Day: PM Narendra Modi

“One needs to be more careful and vigilant,” Bhanumurthy said. “It is easy for India to stay with low growth than experiencing the high deficit.”

But there is also some good news for the Indian economy. The falling rupee has given a boost to some of India’s most lucrative exports, such as software services and pharmaceuticals, which add up to billions of dollars. (VOA)