Or, the kind of economic growth really matters?
Why our policy makers haven’t promoted all-round growth?

The Prime Minister talks of inclusive growth. Fine. But why the inclusive growth is not happening? Why some segments are outside the growth story? For instance, agriculture? Why even the rate of employment growth. As per the latest data there are signs of   a sort of a definite recession in industrial production. Indian industry has recorded dismal growth for April-September 2007 period with almost 60 per cent of the 91 sectors surveyed recording a low growth rate of below 10 per cent. Basic goods, including cement, fertiliser, and polymer, steel as well as intermediate goods recorded either moderate or even negative growth, according to a recent CII-ASCON survey.

The only exception was consumer durables, with sub-sectors like scooters, electric fans, microwaves and air conditioners recording good growth of 10 per cent and more. Even here the utility vehicles, motor cycles showed negative growth rates. The automobile sectors did a bad job, with Tatas and Ashok Leyland and even TVS reporting moderate and negative sales!

The more important point here that even among the excellent rates for certain sectors, the rate of per cent ages for the good sectors had declined, while the percentages for the moderate and negative sectors had increased. The Central Statistical Organisation index of industrial production has growth only by 9.2 per cent during the first six months. The same period of last year saw a growth rate of 11.1 per cent.

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What the government can do? And doesn’t yet do in agriculture?
What the private sector can do now in agriculture?

Indian agriculture, after 60 years of freedom, is now poised for some structural changes. These changes are likely to be brought about more by the private sector initiatives rather than by the conscious government policy support as such.

There is a global integration of Indian agriculture. There is the Doha round of WTO negotiations. It is all about agricultural trade with suitable safeguards for Indian farmers. Surely, Indian farmers will get more subsidies and more protection. Already, Thailand and Vietnam have complained to WTO about India paying huge subsidy to sugar exporters! Yes, this is the subject that also agitates India as against the huge American subsidy to its farmers to export to India! This is the new world trade order in which India has to learn to operate and succeed. Indian agriculture, as it diversifies and as its growing production gets exported, then, issues of world trade rules would come into play and Indian has to learn to play by the rules in a more proactive manner. India is about to replace Brazil, we are told, as a sugar exporter. This would be a big day. Then, with success comes jealousy and opposition from others and the mark of leadership is to win over people to our side!
Our agri exports needs to reach some respectable levels.

India must become a dependable exporter, be it rice or wheat or other products where India has significant advantages. Dairy, horticulture, fruits and medicinal crops etc, floriculture too, are all the new buzzwords!
Let us consider the present agri scenario in the country. There is the on-going concern and commitment to keeping India a food self-sufficiency country. There is a special national mission and also the funds allotted for this objective.
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Rate of economic growth matters? Or, the kind of economic growth really matters? Why our policy makers haven’t promoted all-round growth?

The Prime Minister talks of inclusive growth. Fine. But why the inclusive growth is not happening? Why some segments are outside the growth story? For instance, agriculture? Why even the rate of employment growth. As per the latest data there are signs of   a sort of a definite recession in industrial production. Indian industry has recorded dismal growth for April-September 2007 period with almost 60 per cent of the 91 sectors surveyed recording a low growth rate of below 10 per cent. Basic goods, including cement, fertiliser, and polymer, steel as well as intermediate goods recorded either moderate or even negative growth, according to a recent CII-ASCON survey.

The only exception was consumer durables, with sub-sectors like scooters, electric fans, microwaves and air conditioners recording good growth of 10 per cent and more. Even here the utility vehicles, motor cycles showed negative growth rates. The automobile sectors did a bad job, with Tatas and Ashok Leyland and even TVS reporting moderate and negative sales!

The more important point here that even among the excellent rates for certain sectors, the rate of per cent ages for the good sectors had declined, while the percentages for the moderate and negative sectors had increased. The Central Statistical Organisation index of industrial production has growth only by 9.2 per cent during the first six months. The same period of last year saw a growth rate of 11.1 per cent.

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Dev Anand’s  minor classic

Dev Anand can write such English with literary merit? Spring comes to Bollywood!
Dev Anand’s “Romancing with Life”  is a minor literary classic!

Mr. Sunil Dutt and Mrs.Nargis Dutt life stories poignant and deeply moving One, an  autobiography. The other, a loving portrait of a famous film couple. Together they bring back a lost spring time,the golden days of theBollywood cinema.When,the actors were genuine super heroes and actresses were the reigning queens.The film was always a creative work and we see in the pages of the 400 and odd pages of Dev Anand’s beautifully-written,yes, he is a B.A. Hons from the Government College,Lahore, when that college prided itself as the best east of Suez.

Yes,it produced the higher class of ICS officers and others who went on to shape society and much else.’Dev Saab’as he is called by the industry,for he had lived through all his 84 years as a youngish man of handsone features who could speak impeccable English with proper accent and there are no such highly educated persons,then or now in the tinself town.So,the autobiography comes as a great surprise,it commands one’s attention,not just the usual attention but an intellectual and even artistic curiosity as well.Here is a mind that is optimistic all times,young in attitudes,never say die spirit and what a life it has been! His story reads like any other rag to riches as Sunil Dutt and countless other  artists who ran away to Mumbai and made it big.

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Globalisation where India holds central place!

Globalisation is now taken for granted. What is not made clear by our planners and policy makers are the fact that globalisation is neither 100 per cent possible or desirable. There are limits to globalisation. The point is whether we in India have realised the full dimensions of the globalisation process.

Our entrepreneurs, more so the new generation IT entrepreneurs have propagated the myth of “world as flat”. The world is not flat. Yes, it is flat and at the same time nationally, still a divergent world.

Ratan Tata, the group chairman of the Tatas is now 69 and has expressed a desire to retire soon. He says it would be a terrific time if he can retire after the Tatas unveil the Rs.one lakh small car in the mid January.

But Tatas are no ordinary business group. They are old and also value-driven with 65 per cent of their shares held in trust and the group under Ratan Tata (RNT) had made tremendous transformation since the late, legendary J.R.D.Tata. It is now even talked as if RNT had outstripped JRD! Yes, such is the total transformation. Tatas had bought the foreign steel company Corus for a few billions! Now, another one billion (we mean in American dollars of course!)Would be shelled out for the Jaguar and Landrover takeover! These are not just big funds but also big management challenges!

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