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Who Can Stop Anna Hazare and His Motley Fools from Taking India to Where Gandhi Left it?

Anna Hazare proclaims to be a surviving disciple of Mahatma Gandhi, the Gandhi who won independence for India from the British Empire. It is no secret that Anna Hazare can't read English and can't understand the charges he raises and his team knows very little other than Law, a subject the worst students in India can count on for a degree. For a growing community of frustrated investors and expatriate Indians, Anna Hazare team is looking more and more like a bunch of Motley Fools out to destroy India.

Not without some reason. The "poor" nation of half a billion people Gandhi bequeathed has made impressive strides and record growth even when the rest of the world was reeling under crisis after crisis. Now, along with several other distracters, the very disciple of Gandhi has succeeded to drag the country back several years to where it started from.

The Indian Rupee has touched the lowest ever exchange rate to the US Dollar, the growth has plummeted from the heady 10% India boasted about in the past decade to a 5% range India was stuck with for ages and most of the foreign investment which brought in the growth and prosperity has all but withdrawn.
It is hardly surprising that the investor confidence has taken a flight from a country whose Prime Minister and 15 of his ministers have been accused of corruption without any basis by the Anna Hazare team, crippling any decision making power left with a government held together with finicky regional parties. More disgustingly, it has brought a world renowned economist to offer his resignation as the prime minister of the country. This is a more serious issue affecting not just India but global economy, given the globalisation which render growth in any part of the world vital for the rest of us as well.
The latest accusations of corruption is based on a report the CAG of India has produced which claims loss of astronomical sums to the government by allocation of coal fields to private companies. What the CAG hasn't taken in to account is that the coal the government offered to reluctant and risk-averse entrepreneurs to excavate was worth the mud it was covered with, without the massive inflow of foreign investment. It is different matter that in a fast developing India coal has become a scare and costly commodity. If the ruling government took a view and acted upon it in the interest of developing the Industry, it becomes corrupt act only in the lopsided logic of Indian accountants. What if the companies didn't find any useful coal when they had excavated?

In effect, there was no governance in India for the last 3-4 years because Anna Hazare and several insane politicians refused to let the government or the parliament function. More than Anna Hazare, the people who have ganged up around him, in the name of fighting corruption, must be made answerable for this plight.

Unfortunately it doesn't look like the Anna team can understand that the deliverance of a billion poor citizens of India from poverty will only happen from sustained economic growth. But this motley crowd who use his popularity to stir up emotions and obstruct all efforts of a hard working and well meaning government, by casting aspersions and raising baseless allegations, eroding investor confidence, must surely share the responsibility for the downfall of India

Article first published as Who Can Stop Anna Hazare and His Motley Fools from Taking India to Where Gandhi Left it? on Technorati.

Thursday, May 31, 2012
Posted by Unknown

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