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critic.gif (527 bytes)Economist’s Column
What wrong have I done?

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T
raditional values and heritage of India and  the question of unity and intergrity among diversity.
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Ishita Mukhopadhyay, Calcutta University

Indians were destined to experience a thirteen month regime of BJP and its dilly-dallying allies. The unstable alliance broke and the country was once again faced with the fate of unholy, unethical combinations coming together for the purpose of holding and sharing only power. The ideology guiding the ruling party was one of Hindu fundamentalism. The government crumbled down after thirteen months. But what did it leave behind?

The government which went and its former Prime Minister has been making tall claims about their achievements. Without going further,let us look at the claims made by this man. In a full page ad in the dailies they have claimed that the thirteen month regime has been historic. This was so as they had pulled up a drowning economy and they had created self confidence by making the blasts at Pokhran a success. If we do not want to go down the entire list of claims we can stop here and take a snap shot view of the economy during their thirteen month regime.

The economy was in a bad shape and the economic crises of our country were one of the various issues which were facing the new government. But unfortunately, BJP did not give economic crises a priority and worsened the conditions day by day. They added new dimensions and new problems in the economic scenario.

The ad titled " What wrong have I done?" The reality is that what the people of the country are feeling: " What more wrong could you have done?" They have claimed to gear back an economy in the downswing. What they have merely done is to increase the downswing in each respect. Recently they are making the claim regarding high agricultural growth rate. Let us take a look at the reality. The negative growth rate of 4.5 % went to further negative to 5.4 %. From here the estimate for 199-2000 is an increase at the rate of 2%. One cannot rejoice at the future estimates as we achieved a 9.3 % rate of growth of agricultural production in 1996-97. So inspite of favourable conditions in the sector, we do not have much to expect. But amazingly it is this sector which is the basis of BJP’s claims about achievements. Secondly, the claim about this sector becomes null and void when one takes a look at the price rise. The rise in prices of foodgrains contributed to more than 40% of the rising prices.

The fiscal 1998-99 has also been reportedly the worst year in terms of industrial growth since 1992-93. The growth was 4% and a minor recovery was expected. However the basis of these future estimates by the government was not made clear. Repeatedly the industrialists have been claiming that the market has been gloomy, as the government could not promote the domestic industries properly. One of the reasons for the higher estimates could have been the better-expected yield from rabi and kharif crops this year, which would lead to higher domestic demand to pull up the industries. But investment continues to be sluggish. There was no initiative on part of the government to pull up such an economy from crises. They have passed two annual budgets but they were meant for political gimmicks without any economic content.

The inflation rate could not be pulled down. During their thirteen month regime inflation shot up to all time record. Dishonest traders, who were allies of the ruling regime, piled up Onions and potatoes and prices shot up. From 4.8% in 1997-98 it shot up to 8.85% in the first week of November 1998. So we can ask legitimately: What more wrong could you have done in just thirteen months?

Their pride in Pokhran blasts is in essence shame for the people of the country. The long drawn tradition of the Indian people has been Non aligned movement and good neighbourly relation with the neighbouring countries, SAARC and SAFTA. BJP has eroded the tradition in their attempt to establish hegemony in the subcontinent. They had let the Indians down in the world and in this they had forced the Indians to bow down before US imperialists as India had to succumb to the conditionalities of WTO, sign CTBT, change Patent Laws as damage controll measures. Again the question: What more wrong could they have done?

The thirteen-month regime has led the country to utter chaos and disorder. It has blemished the traditional values and heritage of our country and attacked the question of unity and integrity among diversity.





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