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Political reform

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					‘India needs massive political reforms’
Manipal, Jan 19, DHNS:

''India needs massive political reforms to achieve full potential of its economic reforms to
emerge as one of the three super economic power nations in the world by 2020-25. The
present Indian policies are similar to cold war and non-aligned policies,'' opined Goizueta
Business School, Emory University, Professor of Marketing Dr Jagdish N Seth.

Delivering the 28th T A Pai Memorial Lecture on “India’s decade of destination,” organised by
T A Pai Management Institute (TAPMI) here at Hotel Fortune Inn Valley View on Tuesday, he
said global economic scenario today is two dimensional. At present, economic growth is mostly
from emerging economy and not by advanced economy. It is here that both India and China pull
their potentials of becoming world economic powers besides the US. The economic boom needs
to trigger more political reforms. The most pressing are reforms with respect to political
contributions from vested parties or interested individuals. Making these contributions
transparent and legal is far superior to the present system. In this instance, it is best to adapt the
American system of fund raising by political candidates and parties, he added.

The impact of economic reforms of 1991 has created a new image of India. In 1991, the
government abandoned the planned social economy model manifested, that was labeled as
“license raj” in favour of capitalist economy. What has been achieved in such a short period is
impressive. India will gain significant geopolitical clout by 2025. India’s resource advantages
like demographic, natural, diversity and entrepreneurship and innovations will contribute
immensely for India’s success, he added.

Stating that reduction in the fragmentation of political parties do play important role, he said the
current fragmentation forces unholy alliances and coalitions among political strange bedfellows,
that results in political gridlocks and arbitrary changes without any vision for the nation. He said
computerisation of government and governance is the fastest way to reduce corruption. It will
speed up enforcement of rules and regulations and mandate compliance for better and equitable
governance. A strong enforcement of existing laws on people who corrupt the system is equally
necessary, he added.

Asserting that despite some of the legacy obstacles like highly fragmented economy, lack of
modern infrastructure, lack of enforcement, lack of investment in health and education and still
existing shades of license raj, the future of India is bright, Sheth said it will not be India or
Indians, but the rest of the world, who will deliver its destiny. This is because, the world,
including China needs India more then ever today for global growth, he said.

				
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