Musings from Mehrauli-1

Honestly, I have taken Finance Minister Arun Jaitley's remarks at the Nabard seminar on Agriculture Distress and Enhancing Farm Income in Mumbai yesterday that India can growth at 8 per cent plus is achievable" provided key reform measures are implemented with a pinch of salt.


Why? Given the Congress and other Opposition parties attitude towards the National Democratic Alliance (NDA) government - more belligerence than anything else sheerly out of political expediency. Media reports this morning have it that Congress-ruled States will not be participating in the Niti Ayog meeting convened by Prime Minister Narendra Modi to discuss the Land Amendment Bill among other things. 

 (File Picture: Iftar 2012)

Today's Iftar party to be hosted by Congress President Sonia Gandhi wherein the political heavyweights of Opposition expectedly would confabulate strategy for the forthcoming Monsoon session of Parliament. It is no one's secret what this group would discuss: nti-NDA agenda, of course.


So, this is where my "pinch of salt"observation kicks in. Jaitley is fully aware of this scenario, despite his public bravado.

If one listens to the TV cackle on a daily basis, one cannot escape the impression that the Modi sarkar has not done much in its first year. But when someone of the calibre of Kumar Managalam Birla candidly says that there is a lot of difference in the way the economy is managed,, thus giving a positive feedback, one feels that the Opposition is into rabble rousing. Says he: " ...managing such a large one is of a different complexity altogether. I have a lot of faith in this government. They understand issues well. My sense is that they are doing a lot of work that we are not aware of. Two sectors have taken off-one is coal in terms of production of coal. There has been fairly significant increase in terms of coal from Coal India and for the first time in many years, we are not struggling and have sufficient coal in our plants, which is a very big deal".

Of course, the Monsoon session is going to be a total washout, from policy formulation perspective.

We just entered Q2 and it is the season of Q1 corporate results. Software biggies are already out with their performance. Yes, there seems to be some struggle. Watch out for five themes that will be played out, writes Vatsala Kamat.