scorecardresearch
Friday, April 19, 2024
Support Our Journalism
HomeOpinionModi-made economic crisis won’t disappear by chanting Jai Shri Ram

Modi-made economic crisis won’t disappear by chanting Jai Shri Ram

How long will nationalism and aggressive Hindutva divert attention from unemployment, job loss, crashing rupee and middle-class anxieties?

Follow Us :
Text Size:

The brouhaha over the second Narendra Modi government completing its 100 days has been generated through the many claims of ‘achievements’. If anything, this celebration is premature.

These ‘achievements’ don’t take into account the results, or rather the consequences, of the government’s decisions. But in a New India, we should now get used to ministers calling every move ‘historic’ and their unquestioning supporters amplifying these ‘historic achievements’ through all forms of media.

A fair assessment of the Modi government’s decisions should be done at the end of the term, or at least around December 2021. But neither Narendra Modi nor his posse of ministers led by BJP president Amit Shah has so much patience. They cannot wait that long. They have to declare victory immediately at the end of their first innings of the five-day test match.

If the ruling BJP looks at politics as a match against the opposition parties in general, and the Congress in particular, then that is a big mistake. Modi and Shah do not know what kind of weather will come next or how the pitch will turn subsequently.

Indian cricket fans will never forget the humiliating defeat that their star-studded team suffered at the hands of Bangladesh in the World Cup match in 2007. Or, in the Champions Trophy final against Pakistan 10 years later.  

The consequences of Modi government’s so-called ‘historic’ decision to abrogate Article 370 in Jammu and Kashmir – the international community reportedly endorsed the move – are yet to be seen. The ‘win’ in Kashmir could prove to be just as imaginary as the guaranteed victories against Bangladesh and Pakistan.


Also read: Indian economy’s animal spirits got worse as slowdown spilled into July


Manufacturing reality

Only 100 days have gone by, and nearly 1,600 days of Modi government’s second term still remain. There is plenty of time for the climate to change. The economy has just entered the dark tunnel, and there hardly seems to be any sign of light at the end. You may blame global conditions for it, it wouldn’t change things for the young Indians who are battling a ‘recession’. You need more than Amit Shah’s political acumen and Narendra Modi’s charisma to bring the economy back on track.

How long will the nationalist fervour and aggressive Hindutva divert people’s attention from unemployment, job losses, crashing rupee and middle-class anxieties? How long will the media continue asking ministers and political leaders what their favourite fruit is?

How long will dilution of the RTI Act or unchecked corruption be tolerated? Will propaganda and manufactured realities, like India is now corruption-free, become the perennial defence of a government that offers no room to any question or alternative viewpoint? India is rapidly becoming an Orwellian society. The number of opposition leaders falling prey to raids by the Enforcement Directorate or the CBI is already reaching a saturation point.


Also read: Difference between Pragya Thakur and LK Advani is only in the shade of Hindutva


Signs of a distant past

A character in John le Carré’s A Perfect Spy says in total dismay, “You should have died when I killed you”. In 1987, driven by a sort of self-righteous outrage, then-Finance Minister Vishwanath Pratap Singh had ordered a series of raids on leading business houses. Initially, he received applause from the middle class and the so-called ‘anti-business’ Left.

Within a year or two, even the Socialists turned against him. The famous socialist leader N.G. Goray held a public rally in Pune condemning the witch-hunt of industrialists and holding the economy to ransom. Then-Prime Minister Rajiv Gandhi was forced to shift V.P. Singh from the finance ministry to the defence. But the latter remained notorious in his new role too.

The HDW submarine scandal and later the Bofors scam became the templates on which V.P Singh ran the 1989 electoral campaign. The Janata Dal-led National Front coalition defeated Rajiv Gandhi’s Congress and V.P. Singh became the Prime Minister.

When the CBI in March 1990 reopened the HDW submarine case, Singh’s stature grew, earning him the epithet of “Super Clean”. But soon the bubble burst.

The weather conditions changed, and the BJP’s Ayodhya movement began to take the centre stage. Ignoring opposing voices within the party, V.P. Singh decided to implement the Mandal Commission’s report that had been biting dust for several years.

On the face of it, the aim was idealistic – to promote social justice – but the ‘noble’ objectives of the Mandalisation resulted in an explosion of caste politics, with upper castes launching violent protests against quota for the Other Backward Classes. The move marked the beginning of the fall of V.P. Singh.


Also read: 7 politicians with corruption charges CBI and ED won’t raid


Crisis is here

Today, the ED and the Income Tax raids and the Stalinist-style inquiries have raised alarm bells in the business community. The corporate class is restless. Although it speaks of its fears and frustrations in private, the quarterly and mid-year balance sheets are loud and clear. The fall of the rupee is a cry of agony. The Reserve Bank of India can rescue the rupee but it cannot control the Fed rates in the US. The Bombay Stock Exchange and the Nifty could be managed by roping in LIC and other public sector enterprises, but only up to a point.

In terms of cure, the Modi government has so far offered little. Anyone afraid of ghosts – political, economic, social or cultural – can chant ‘Jai Sri Ram’ to provide the self with a semblance of confidence and hope. But modern-day ghosts don’t disappear just like that. The spectre of economic crisis looms large and it will need more than a prayer to tackle it.

The author is a former editor and Congress member of Rajya Sabha. Views are personal.

Subscribe to our channels on YouTube, Telegram & WhatsApp

Support Our Journalism

India needs fair, non-hyphenated and questioning journalism, packed with on-ground reporting. ThePrint – with exceptional reporters, columnists and editors – is doing just that.

Sustaining this needs support from wonderful readers like you.

Whether you live in India or overseas, you can take a paid subscription by clicking here.

Support Our Journalism

13 COMMENTS

  1. Forgot !!! Congress MPs even after doing 1000 scam will say we are clean and BJP is worst. THE Print /The Quint/Raveesh Kumar and Prannoy Roy jaise chamche inko puchte hai….
    If u say Kashmir was guaranteed win then why d heck Congis didnt do that….can u answer mr.Ketkar the person himself had a narrow escape from one of the scam

  2. The Nehru dynasty spread his family culture and left Rajiv Kumar of West Bengal police officers. These are the bureaucracy Nehru policies created to support an inefficient corrupt dynasty that ruled India more than six decades. The dynasty congress not only forced more than 60% of citizen go to bed without full stomach, it also made environment that only creates Rajiv and Rajiv Kumar to keep suppressing poor always. And this made the dynasty rule in India for such a long time. India is changing and these Rajiv Kumar bureaucrats must be kept in Jail for ever. Modi must remember that people are suffering and supporting him with hope that corrupt, thieves of national exchequer are to be eradicated.

  3. The article is written by a Congress Rajya Sabha Member…. Tell me Mr. Ketkar, Will you please respond about the ill-gotten wealth of your & entire Congress’s Son-in-law, Mr. Robert Vadra & the scams of the entire Congress Party ?? All this done using honest Indian Tax Payers Money…. You are a disgrace to the Country called India…. I am sure Imran Khan would love to have a person like you in his close quarters 😂🤣😂🤣😂🤣😂🤣

  4. Every economic reform for good is always painful, but it lead nation to right path. The left wing corrupt independent media house does not understand this.
    The corrupt media houses like you long fulfill their agendas under corrupt Congress gov. But not anymore.

  5. Correction! What is the solution for current unequal supply/demand? Everybody wants freebies from plebeians to patricians. Plebeians subsidy can be justfied to some extent since they have nothing however what about patricians subsidies from AIMS/IIT model subsidy education to AirIndia like numerous white elpephants plus write off of Loans of big indusrtial/business frauds and non frauds.

  6. What is the solution for current unequal supply/demand? Everybody wants freebies form plebains to patricians. Plebeians subsidy can be justfied to some extent however why plebians subsidy from AIMS/IIT model subsidy education to AirIndia like numerous white elpephants plus write off of Loans of big indusrtial/business frauds and non frauds.

  7. The economic crisis should continue and the voters for Tom and Dick should experience their folly. A Kuan ka Mendak must never be put out in the open. This Lesson etched in the past voters mind will save all India in the long run. A small pain now for long term gain is morally good.

  8. In Britain, the brightest civil servants are spotted early and make their way to the Treasury. That is a rich country. In a India, it is the economy alone that matters. [ Normally national security too does but there again we seem to have created our own bogeys ] So many of the hyped programmes – sanitation, gas connections, bank accounts, farm and health insurance – would largely take care of themselves in a booming economy. Conversely, if the economy is dead in the water, these measures will not take us to a better place. Who would see a Dubai style shopping festival as the answer to our troubles when people are struggling to buy basic foodstuffs and toiletries.

  9. The mood is so somber, a little humour helps. Someone tweeted that the light at the end of the tunnel could be the headlight of an approaching locomotive …

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Most Popular