infotonic

Look at government inefficiency, food prices have galloped at an alarming rate over the last few months. Some blame it on the poor monsoons. Some blame it on hoarding by greedy middlemen. In my opinion, the government unknowingly itself is a massive hoarder. As per a report in a financial daily, the stock of rice and wheat in government granaries is way above the minimum requirement. Sadly, much of this excess stock is stored in the open. It either rots or feeds pests. In my view, this is a national shame. We cannot get the basics right in such a crucial area when food prices are spiraling out of control and millions of Indians still go hungry. Such stocks should be stored properly and released in small lots to stabilise prices.

I was listening to Mr Montek Singh Ahluwalia yday; this thought was triggered when he was discussing self regulation vs external regulation in microfinance seminar. That set me thinking; how big a role has the government played in the recent India growth story? That's a question of great importance to all of us. After all, we place a great deal of emphasis on the management of a company while investing. Surely the same should apply to the custodians of the overall economy.Successive governments keep stumbling in getting their policies right. Indian entrepreneurs do what they have to do in spite of the government.An enlightened political class would do wonders for our economy. But in the era of walkouts and note laden garlands, the most businessmen expect is the politicians' benign neglect.