Much
has been written on economic development in recent years, and a great
deal of research has been done by international organizations and
individual scholars about the process and trends of economic growth. It
has be, however, noted that economic development is a continuous and
complex process which involve the interaction varied and numerous
factors which are interrelated and interwoven. The main factors of
economic development are natural resources, manpower (human resources),
capital formation and entrepreneurship (organisation) and technological
advancement. The rate of economic growth of a country depends upon the
degree of conjuncture (coincidence) of these factors. In addition, the
role of government is also equally important in stimulating the process
of economic development. The government of a country should desire for
rapid economic growth/ development and improvement in the well-being of
the people. That is, it should frame appropriate policies and take
effective steps to carry forward the goals of economic development. Even
a superficial examination of the history of economic development of
various countries reveals that the proper governance and clean
administration has facilitated rapid economic development. Lack of
proper governance and corrupt administration has also proved to be
hindrance to development and improvement in the general level of living.
Today, India has the distinction of one of the most inefficient and
corrupt administration in the world. Not only that a significant
proportion of the investment leaks into the hands of corrupt politicians
and greedy bureaucrats from the top to the bottom. Much worse is that
due to corruption, nepotism and inefficiency implementation of most of
the projects are delayed. At present the level of governance in India
is at the lowest ebb. The numerous cases of scams, scandals, frauds,
money laundering and other shadow activities indulged in by corrupt
politicians, especially the ruling party, and their kith and kin and
corrupt bureaucrats have naturally affected the efficient and effective
allocation of the resources and their utilisation. Dr. Manmohan Singh is
reported to have failed to curb various scams, sandals and frauds
perpetuated by crony capitalists and greedy politicians and bureaucrats.
As a result, resources of the country have been looted by crony
capitalists with the active support of corrupt politicians and
connivance of bureaucrats. The country is reported to have lost lakhs of
corers of rupees, which could have been used to promote investment and
provide welfare measures to the down-trodden people. The criticism is
that Dr.Singh has been keeping silence over the organised looting. By
notifying the decision to allow 51 percent FDI in multi-brand retail Dr.
Manmohan Singh has skillfully diverted the attention of the people from
the ill-famous coal gate scandal and numerous other scams, scandals and
frauds took place during his Prime Ministership.
Dr.C.Murukadas, The Times of India , 16th Oct, 2012
No comments:
Post a Comment