Monday, May 18, 2009

The Real Message ...

... from the results of the Indian election is that there is now a secular, generally quiet, increasingly educated majority of Indians who have spoken loudly and clearly. Their message is clearly that the country wants to be set on a path to secular and inclusive growth and that the way to gain the support of the new Indian electorate is to focus on the real issues.
Let us hope the new Government (and the opposition parties) have heard the same message.
We also need to acknowledge and remember the dangers of our fiscal deficits and that the economic situation locally and internationally remains precarious.
A few suggestions for the new Government's agenda:
1) Remove the many impediments to private sector investment in infrastructure
2) Effective agriculture reform - the supply chain needs to be looked at
3) A genuine effort to minimise corruption at all levels would ensure long term political support from the said majority
4) Judicial reform is long overdue and isn't spoken about much - many honest Indians have little faith in the judiciary. A genuine effort to reform the justice system will also ensure long term political support
The above will also help reduce fiscal deficits if implemented effectively. There is of course a lot more to be done beyond this but I am optimistic that the Prime Minister, freed of pressure from coalition partners, will surprise us positively, even given the current high level of optimism bordering on euphoria.

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