Consider it as freebies... The 'Future' is the hostage, the country has dealt with it

Harivansh 

a senior journalist,

Deputy Chairman of the Rajya Sabha

“Rinam kritva ghritam pibet (ऋणम् कृत्वा घृतं पीवेत)" is a line from the Charvaka philosophy that translates to "As long as you are alive, enjoy your life, incur debt, and eat ghee". This saying is a part of the Indian mindset. But it is the sacred duty of a conscious society not to mortgage the future of the coming generations. We should not forget how this country was saved from the brink of bankruptcy in 1990. It started with the policies of the then central government in 1983, which saw a flood of populist slogans and freebies during elections. To fulfill these promises, huge loans were taken from the world and domestic markets. 

Documents show that after 1984, almost every Governor of the Reserve Bank, Finance Secretary, and Prime Minister and Finance Minister warned, but those sitting in the highest positions, in their desire for 'power,' did not take decisive decisions. Even the Reserve Bank Governor, Manmohan Singh wrote letters warning the then Finance Minister and the Center.

Finally, in 1990, the then Prime Minister Chandra Shekhar took the decision to 'save the country'. He risked his political career. It is a long and interesting story. Much later, former Cabinet Secretary Naresh Chandra recalled those moments (The Hindu, August 1, 2016). Naresh Chandra discussed this burning issue with Prime Minister Chandra Shekhar. 

The Prime Minister's response was, "I don't want to be remembered as the Prime Minister who sold the country's silver." Naresh Chandra's reply was, "Sir, you probably wouldn't like to be remembered as the Prime Minister who declared the country bankrupt." It was a choice between the devil and the deep blue sea.

Chandra Shekhar understood the situation in a moment. If the country was declared bankrupt once in the world market, what would happen to the reputation and future of India's future generations? Without a moment's hesitation, he took the tough decision to save the country. "Go ahead," they said to Cabinet Secretary Naresh Chandra.

Then, by pledging gold seized from smugglers, India saved its dignity in the global market. Chandra Shekhar paid a heavy price for this in his personal political life. Three Prime Ministers were directly responsible for this sin that began in 1983. All the Reserve Bank governors kept warning in writing. Finance ministers, ministries, and senior officials also kept warning. But due to the allure of power and politics, no one took a decision. The country was brought to the brink of ‘poverty.’ The Prime Minister who was not involved in this sacrificed his political career to rescue the nation. The guilty parties and two former Prime Ministers (one of whom was no longer alive) continued to blame Chandra Shekhar for pledging gold.

Freebies... The 'Future' is the hostage, the country has dealt with it

This is the politics of this country?

Although there was consensus and agreement on this matter. Is this the politics of this country? What is the connection of this incident with the Jharkhand Legislative Assembly elections? Jharkhand is one of the five states in the country (four are - Punjab, Chhattisgarh, Rajasthan and Himachal) that have returned to the 'Old Pension Scheme' for government employees. The Reserve Bank report also mentions the precarious financial condition of many states. I wish someone would make the current economic situation and challenges of these states a part of public discourse in simple, easy-to-understand words. The previous governments in Rajasthan and Chhattisgarh implemented this scheme.

Due to political and electoral reasons, the serious issue that was discussed during Atal Bihari Vajpayee's government (that the burden of pensions on the central and state governments would be unbearable in the future) has resurfaced. A proposal was made. Then the UPA government came to power. Economist Manmohan Singh became the Prime Minister. This was implemented across the country. Now some states are returning to that short-sighted future? Government employees will be a maximum of 5-6% of the total population of a state. 

Will the economic future of 94-95% of the country's population be mortgaged for the sake of 5-6% of the population? The far-reaching impact of this policy, which will have a profound impact on the future generations of Jharkhand, should be explained to the public along with facts and figures. It should be explained what will be the fate of the state and the country if the 'future' is mortgaged and the country is taken into a 'debt trap' due to populist slogans and such schemes?

In these five states, there are a few where the economic situation is such that even managing salaries is a challenge. Development, industries, education, health, and other development works are stalled. The condition of universities and research institutions is deplorable.

Today, the world is in the era of the 'Knowledge Economy'. Technology, soft power, scientific research, innovation, economy, society, state, and country - the future of the world is being determined by these. Once, mining (natural resources) used to bring jobs and prosperity. New opportunities emerged. Factories were opened. Then came the era of manufacturing (decentralized). Then came the era of software.

We are witnessing the era of artificial intelligence, green technology, genetic science, disease-free humans, long-lived humans, designer babies, chips, and who knows how many more new things that are taking humans to new heights. New inventions, developments, and progress are constantly writing astonishing chapters. Especially in India, since 2014, there has been historic progress in the technological race. In the financial sector, India has become a world leader in tech-based transactions and businesses. Now, there is a competition among states to establish industrial units related to advanced technologies, including chips.

Jharkhand voters should ask the upcoming MLAs what concrete time-bound plans they have for Jharkhand in the fields of technology where future opportunities abound. The question of securing one's future will not be resolved by rising above social class interests; it will have serious consequences. In neighboring Odisha, the state government's efforts have laid the foundation for a strong software industry. What happened in Jharkhand? If not, who is accountable?

Jharkhand's farmers have different questions. There is the pain of migrating laborers. There are heart-wrenching challenges in women's lives. There are issues for entrepreneurs. There is the serious question of foreign infiltration related to Jharkhand's water, forests, and land. Every section of Jharkhand society has its own unanswered questions. But if the voters or every section of society only thinks within the boundaries of caste, religion, outsider-insider, etc., then forget about the dream of good governance and a developed prosperous state (where everyone gets security, opportunity, and betterment) in the state.

Jharkhand's youth and students, under the banner of ‘Jan Vimarsh’, should ask the upcoming MLAs and their parties what is the blueprint for creating this ‘ecosystem’ in Jharkhand? What has happened so far? What are the future policies for ‘Ease of Doing Business’? Ask questions, what is the condition of good old policies?

(These are the author's own views.)

Courtesy: Dainik Bhaskar

Translated & Edited by : Smita DeyTarafder

Read the 9th part tomorrow...