As a common citizen of the
country, like everyone else, I am wondering the reason why our rupee is going
through a great fall. As if it is falling down a slider and there is no end to
it. Well, I am not an economist either to analyse the factors affecting such
devaluation inspite of all types of assurance from our government. The other day, Honourable Finance Minister was
explaining that as US has successfully come out of recession, global investors, a good number of them from
US has decided to take back their money and invest in their own country.
If this statement is true, then
when US went in deep trouble or whenever their economy gets worsen our
situation should improve! In their bad times more money should have come to
India and vice versa. When this claim of our Finance Minister can be true to
some extent real cause might be somewhat else which government can never speak
out in day light.
As a lay man I can understand
this much that, global investors, play a big role in ballooning our economy and
these investors will pump their investment where there is prospect for their
money to grow. Money will grow in those markets where industries run on
profitability. Industries will prosper when there are sufficient consumers to
get feed, supported by buying power. At the same time, another factor which
destines the industrial performance is the efficiency which can deliver goods
at true value. While, we are opening industries to private sectors much of the
efficiency depends on the infrastructural environment.
Every time a new government comes
in power speaks of upliftment of infrastructural facilities so that industries
can grow healthy. But, the deepest cause of our weakness lies in our lack of
proper infrastructural setups. When this government came in power, funds rushed
in with the confidence that a lot of government expenditures will take place in
these aspects. But, like every other, previous governments, they have failed to
show results in that direction.
Infrastructural development covering road, rail and even water
connectivity, available power supply, water supply is a must. Even after 67
years of independence, we still lack these things in many corners of the
country.
As Congress has ruled this
country almost nearly 60 years they must take moral responsibility of this
failure. Even after 67 years we don’t have an efficient government, why blame
only industry? Keeping aside all visible reasons, I must say, those people who
come in power, lack in their commitments towards the country. Or if they say,
they are committed, they must admit, that they are inefficient in running a
government by giving proper directions
of development policy & process. It hears to be political, but we can’t
avoid politics as in India it is the politics which decides our destiny!
