QUESTIONS TO THE INDIAN PARLIAMENT: A CITIZEN’S WISH – BY Dr. BOBBY SRINIVASAN AND Dr. SUDHAKAR BALACHANDRAN

December 8, 2014 | Posted by bobbysrinivasan << back to blog

The winter session of the Indian Parliament is in progress and will last for a couple of weeks. Many important bills are waiting to be passed after they are carefully deliberated. Every member in the parliament hopefully understands what really he is voting for since we have left the future of this country in their hands. Obviously every citizen cannot turn-up in the parliament to know and understand what really is going on but they can atleast ask the questions for which they are seeking answers. Without questions being raised, there are no answers. When an average citizen shows no desire to ask questions, what does it mean?

He doesn’t care what is happening to this country?
He cares but believes that there is no use since he doesn’t expect a reply and even if he did he believes that it will contain only some excuses.
For many citizens, they believe that the existence of a parliament and its day to day operations are not relevant to them at any time in life.
It is often repeatedly said that every citizen should know his rights. Asking the right question and expecting an honest reply should be deemed as a matter of right.
Citizens choose candidates who are completely oblivious to both important and global issues. It is like leaving a big bus to a novice driver who has only limited experience to drive the vehicle on the crowded highways.

Now, this blog is just an effort to generate some answers to some questions that are on my mind from our esteemed and highly respected politicians who are supposed to have sacrificed their personal ambitions to serve the country. The questions are as follows:

Sirs, in a recent article it is reported that the earlier UPA government as one of its nation building activities engaged in infrastructure development spree and when they were removed from power, they had left 613 projects in which they have sunk Rs.5.8 lakh crore. The new NDA government has estimated that in order for these projects to be completed in the near term, it will cost an additional Rs.6 lakh crore approximately. Given the new government is planning to limit the borrowing to Rs.4.3 lakh crore (4.1% of GDP). It is most likely that most of these projects are going to be abandoned for want of investment. The question now is what solution is being worked out to revive those projects and to complete them. In your collective opinion, are all these projects relevant to today’s needs? Finally, is this a terrible blunder by the UPA government who wasted away the national resources.
The Reserve Bank of India has recently become highly concerned about the non-performing assets of the bank. Come April 1, 2015 all restructured loans are also going to be included in the bad loan category. It is estimated that bad loans of banks is estimated to be about 10% of lendable funds (amounting approximately US $90 billion). What steps is the parliament is going to take to salvage the situation?
Our banks will soon need to meet the Basel III requirements. It is estimated that more than Rs.100,000 crores may be required to add to the equity of the bank in order to implement it. Sirs, how is this money going to be raised especially with these massive bank losses?
Our GDP growth are after recovering from the sub 5% growth in the last 2 financial years has shown a growth of 5.7% in the first quarter. Economists are predicting 5.34% growth for the second quarter. The government cannot expand its economic activities unless it wants to settle for some form of quantitative easing. The manufacturing sector is practically not growing and the agriculture growth is slowly tapering off. Is the service sector only our hope? Talking of high growth requires higher gross domestic saving larger inflow of FDIs and gross capital formation. Given the present global economic scenario of China slowing down, Japan in recession and the recovery in the US is somewhat marginal and that also achieved through several trillion dollars of quantitative easing. How are we going to find this kind of money?

<< back to blog

About Us

TERM ZERO

Media

Rankings

Accreditations

NIRF

Campus

Blog

Annual Events

Full Time Programs

PGPM

PGDM

EXECUTIVE EDUCATION

Corporate Programs

PGXPM

PGPM Flex

MBA in Business Analytics

Family Enterprises Management

Ranked 6 ^th

Faculty

Research

Centers of Excellence

Conferences

Campus Recruitment

Internships

Placement Reports

Leadership Series

Talent Listings

Ranked 6 th

Ranked 6 ^th