Business Daily from THE HINDU group of publications
Monday, Dec 22, 2008
ePaper | Mobile/PDA Version | Audio | Blogs

News
Features
Stocks
Cross Currency
Shipping
Archives
Google

Group Sites

Opinion - Economic Offences
Industry & Economy - Economy
Columns - Wide Canvas
The baggage of 2008


While answers relating to terrorism and economic issues are the most sought after in 2008, we should not forget to ask ourselves if we are missing out on other important questions.


— S. Subramanium

Corruption is one aspect which has not been addressed strongly enough since Independence.

Ranabir Ray Choudhury

Standing on the threshold of the New Year, what is it that strikes us the most when we look back on the year that is about to go into the record books? Two obvious developments present themselves almost immediately, namely, the November terrorist outrage in Mumbai and the economic meltdown engulfing the world, which will cover most of the coming year as well. These are no doubts important events in the life of the Indian nation, bringing activity to a halt and making peopl e sit up and think of the present and the future.

Take the Mumbai event, for example, which is not unique as far as the genre is concerned and neither is it the last instance of such activity for reasons which are beyond the control of the nation. What the November happenings indicate is that, first, terrorism has become the order of the day (certainly in this country) and, secondly, that the nation must prepare itself for the next outrage, whenever and wherever it occurs.

Blast in mind

In other words, terrorist activity, planned from outside the country but using human instruments, which are based very much in the domestic social arena, is gradually coming to be accepted by the average Indian citizen as a part of everyday life, so much so that the possibility of blasts occurring is being thought of by citizens before going shopping in malls and bazaars — in fact before visiting any crowded place, be it a railway station, a big hotel, or even going to a busy street.

However, while this is what is happening on the surface of Indian society today regarding terrorist activity, which is easily observable, there is a much more worrying and dangerous subterranean process on, which is actually numbing the senses of the general populace vis-À-vis the enormity of terrorist strikes.

Indeed, it would appear that the more strongly terrorist activity colours the mind of the ordinary Indian, the greater is its absorption into the Indian psyche which, curiously, has the effect of lowering society’s general alertness vis-À-vis the phenomenon.

Lull in senses

What this means, therefore, is that the greater the impact of terrorist strikes, the more difficult it becomes for the nation’s security establishment to make the common people aware of the dangers lurking at every corner from this source of social disruption. There is a lulling of the senses which is taken advantage of by terrorist groups to make deeper inroads into social peace and order.

The international economic meltdown and its effects on Indian economic activity, trickling down to the lowest strata of society, comprise the second phenomenon, which is today leaving a distinct mark on daily life in the country. The Damocles’ sword of joblessness is currently hanging over the heads of millions of Indians who are reading about growing unemployment, specially in the developed countries, and also about those in, say, the IT sector and civil aviation who have either been asked not to report for work or have had their pay reduced.

Even if job termination has not hit the Indian economy in a big way yet, there are regular reports on how major companies are asking their employees to cut down on frills and even work for fewer days a week, which in their totality do not suggest that the future is going to be problem-free.

In fact, every passing week has some official announcement or the other on Government largesse being doled out to kick-start the economy by generating demand. These news items are indirectly underscoring the serious problems the national economy is facing and is likely to face in the months ahead.

Stimulus

Take the case of the recent announcement on a reduction of home loan interest rates, the expectation being that the measure will lead to more people opting for such loans, which would directly lead to a spurt in housing activity which, in turn, is expected to boost the general economy through the large number of linkages the sector has with other parts of the income-production matrix.

The problem is that while all this is happening within the country, the daily reports emanating from other parts of the world are continually unfolding a morbid story of economic gloom and recession which, as experience has shown, cannot but have a strong depressive influence on the national revival effort.

As with terrorism, the economic downturn too is an easily identifiable aspect of national life, which will last well into the coming year, probably getting a bit worse before gingerly getting on to the path of a long recovery.

The main point of difference between the two phenomena is that while the terrorism vista points to a worsening situation with time, the economic downturn cannot last forever. In a manner of speaking, although the tunnel may turn out to be longer than is being expected, it will certainly terminate and give way to newer opportunities for rapid growth.

These are points of concern that have been thrown up by the passage of the present year, now into its last week, the “silver lining” being that they are easily identifiable and are, therefore, constantly on the social radar. Even if people are becoming used to the dangers of terrorism, they are at least aware of it with the Government trying its best to counter it.

Evil called Corruption

But what about the gradual spread of corruption and the steady decline in the moral standards of society, two aspects of Indian life which have not seen any observable improvement since 1947 and which are not targeted by the powers that be in any meaningful way?

One does not have to think twice to suggest that these two elements of Indian life have been a constant factor as far as the baggage of any year is concerned since Independence, and not only 2008. This will of course be shot down as an overly pessimistic view of national life at a time when the economy has been going great guns and we have been able to send a space vehicle to the moon.

At one level, that of impersonal numbers, this view is perhaps acceptable. But can man live by bread alone? Is the quality of national life enhanced by generating a larger number of millionaires who think nothing of, say, greasing the palm of the babus to strengthen their position further? Come to think of it, are politicians today a better lot than their predecessors thirty years ago? If not, why? After all, the leaders of today are all elected by the Indian people, the vast majority of whom are still not tainted by “corruption” as we know it.

Is there a silent cancer at work destroying the entrails of our nation slowly but inexorably while on the surface we are grossly preoccupied with problems of the economy and security, the successful resolution of which, almost certainly, will translate into more votes and more power for politicians, most of whom are frightfully busy trying to accomplish as much as they can during their stint in office?

More Stories on : Economic Offences | Economy | Terrorism | Wide Canvas

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page




Stories in this Section
Fuelling reform


The heat is on CEO pay
A vote for the ‘selectorate’
Politicians in the news
Business class privilege
The baggage of 2008
Sen and Singh: Peas of pod
Restore confidence
Avoiding Depression




eWorld



The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright © 2008, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line