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February 2014

FROM THE PRESIDENT

By Naushad A. Panjwani
Reading Time 5 mins
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Dear members of BCAS family,

I am a movie buff. I remember dialogues and songs of more movies than most of you would remember case laws. (Okay, barring the likes of Pranav Sayta.) And hence, when I read some news or see some incident, either a relevant song or dialogue pops up in my mind. Take for example these two news items in January:

1. Posco steel plant, India’s biggest FDI, gets environmental approval

2. Cairn India under income tax lens over share sale

I am visualising a scene from old Hindi movies where the villain will brag “yahan log aate toh apni marzi se hai, par jaate hamari marzi se hai”. It is so frustrating to see that the same government stalling clearances on environmental grounds for eight years, grants clearances overnight when the minister changes. Did the environmental norms change overnight or the compliance occurred overnight? Is FDI welcome in India when the country needs it or is FDI welcome when the political compulsion sets in?

Someone please tell me this was done for the good of the economy and not with the polls in mind.

On the other hand were the events regarding Vodafone, Nokia and Shell not enough that we now have Cairn’s disinvestment coming under tax scanner? Are multinationals easy preys to meet huge deficits in tax collections? Why bother improving tax administration machinery? Why bother with tax defaulters who get away with bribery? Go after honest tax payers. Make frivolous additions. Disallow genuine expenses. Apply absurd interpretations and deny exemptions and deductions. Raise demands. If all that is not enough then hold up genuine, legitimate and in many cases, much needed refund.

Someone please tell me this was done for the good of the economy and not with the polls in mind.

Take another front page headline:

Currency notes issued before 2005 to be withdrawn post March 31: RBI

This reminds of another villainous dialogue “Hum toh doobenge sanam, par tumko bhi le doobenge”. The reason attributed for the withdrawal of pre 2005 notes is that it could counter black money and help weed out fake currency circulating through the system. Noble. Laudable. Much needed. But look at the timing. At a time when it is more than apparent that the odds of winning these elections are tilted against us, how do we make it difficult for them to win? Attack their poll contributors.

Someone please tell me this was done with a motive for the good of the economy and not with the polls in mind. “There have been issues like regulatory clearances but government realised and we have started working on those areas. Many clearances have been fast tracked. There are further reforms, including some structural reforms, in the pipeline.” – Planning Commission Deputy Chairman Montek Singh Ahluwalia.

Sir

“Bahut der se dar pe aankhein lagi thi, Huzuur aate-aate bahut der kar di.
Maseeha mere toone beemaar-e-gam ki , Dava laate-laate bahut der kar di”

As a citizen I am happy that finally we are back to doing business. But I cannot help rue the fact that we did digress. We did derail. We did not do business. We indulged in politics. We did not even do welfare. We did politics. We didn’t do governance. We did politics. We lost steam. We frittered opportunities. We did politics.

Someone please tell me this was done purely for the good of the economy and not with the polls in mind. But to be fair, it is not just the UPA playing politics. Every party is beating their war drums as a build up to the ensuing elections.

“India’s main opposition Bharatiya Janata Party (BJP) is considering a measure to scrap, or reduce, income tax”. Isn’t this a plank in an election manifesto designed to win over crucial middle-class and urban voters?

Free water, electricity, LPG and much more promised by all and sundry.

Minority statuses, Wars with neighbouring countries and Abolition of babudom by some.

The stakes are high. The spoils are aplenty. The bounty too large. The power too alluring. The greed for power too high. The interest of the nation secondary.

“Yeh Mehlon,Yeh Takhton,Yeh Taajon Ki Duniya,
Yeh Insaan Ke Dushman Samaajon Ki Duniya,
Yeh Daulat Ke Bhookhe Rawajon Ki Duniya,
Yeh Duniya Agar Mil Bhi Jaaye Toh Kya Hai.”

Someone please tell me all this is being promised purely for the good of the nation and not with the polls in mind.

There is a silver lining in the sky. There is light at the end of the tunnel. There is hope in my heart. By 2020, India is set to become the world’s youngest country with 64 per cent of its population in the working age group. In the ensuing elections, there will be about 15 crores first time voters. As a proportion, this works out to about one-fifth of the total electorate of 73 crores estimated by the Election Commission of India. These young adults would be anywhere between 18 and 23 years of age.

These voters are surely not going to be swayed by dynasties or dictators. They are going to vote for whichever party promises them a better future. A future not based on aid, subsidies, freebies or wishy washy lures. This generation is going to look for opportunities for economic advancement and wealth creation on their own competencies and steam. Just give good governance. Just create an enabling environment. Just stop the current nonsense. Agree that your business is politics but just don’t do only politics. Please please please do business too.

Meri taqdeer badal dengey mere jaanbaaz irade…!
Meri kismat nahi mahutaj mere hathon ki lakiron ki.
Yakeenan aasman se oonchi hogi meri mulk ki udaan..
Zara mere pairon se tere siyasat ki zanjeer toh hata de.

Here’s wishing everyone happiness and love.
With Warm Regards

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