As an extension to my previous blog, which is a microcosmic view of how one can cultivate the ideology of being a responsible citizen and help propagate the progress of the country, thus envisioning the growth of his/her homeland treating it as a divine duty; I also felt there were some key pointers that were missing from my own introspective analysis. These expressed henceforth, I believe can create a forum for intellectual gathering of action-points on establishing a platform for national reforms. So, please feel free to express your opinion on this subject.
Recalling some of the core issues that I have raised previously,
- we see a lack of ownership in effective deliverance of Public Administration responsibilities from dignitaries of people-elected high order offices, in terms of, lethargy towards the discharge of assigned duties, the emerging outlook of corruption in the political or socio-political environment of the country, lack of common-will of policy-making, and such.
- Adding to that, there is also prevalence of dilapidated sense of security and measures taken to ensure a fail-safe blanket of security system provision for the citizens of India.
- The economic down-slide on the growth and progress indicators coupled with, rising civil unrest spread across the nation.
Being an eternal optimist, in retrospect with what is said above, over the past couple of decades, one can notice tremendous improvement in the content & structure of the Indian socio-economic environment as compared to post-independence era (1960-1990) , where the multi-fold increase in the purchasing power of Indian middle-class segment has paved way for a linear rise of consumerism. This potential has opened doors for a plethora of changes to occur such as,
- Prominence of manufacturing sector contributing to the overall GDP,
- The stalwart growth of the services sector in-turn fuelling the rise in education & employment, rise in development of technology drivers, rise in scientific research, rise in agricultural output, and such.
- There are also noteworthy advancements made in the financial and retail markets integrating together to provide a efficient and streamlined outlook on the Indian consumer market & its PPP (Purchasing Power Parity).
- All the above causing well-targeted initiatives in Public Utilities & Infrastructure industry, thus drawing a huge confidence from the investor forum to see a heavy in-flux of foreign investments, making India enviable peer on the global power map.
As a macro-cosmic view, some of the critical challenges that needs to be addressed currently, in order to have a longevity for sustenance of such a growth pattern are,
- A well-defined path for delivery in-order to fulfil the energy requirements of the country from a long-term perspective, as I believe this to be a prime-driver of growth for any nation in coming years.
- Inclusive monetary and fiscal reforms that can ensure the improvement of domestic investor confidence (Due to the notable upsurge in the entrepreneurial endeavours and SMBs, which form a crucial layer) along with foreign investors, so there is a mitigation on exclusive dependence of in-flow of funds from foreign community.
- A better policy making environment with focus on implementing a quicker approval methodology for infrastructure and high-ticket projects that help scale the Gross product output of various industries.(where the average of 5-6% prevalent now can be easily pushed to 9-10% )
- A more refined structure for the deliverance of high-quality output from the education sector to the employment sector.
- A better conflict-management system to ensure a more peaceful cohabitational of various demographics within the nation.
- Adoption and implementation of technological and scientific instruments to ensure a well-rounded defence measure against both internal & external agents of chaos & terror.
Please Note: Some excerpts here are inspired from a program called 'In conversation with Mrs. Shikha Sharma (MD & CEO of Axis Bank)' presented on Bloomberg TV this Sunday.