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Thanks for sending me a copy of INCLUSION on economic issues and also your views on the present scenario of our country’s economy.
Chandresh Kumari Katoch, Minister of Culture

Apropos M Ramachandran’s article on Urban Governance, ‘Have States and Cities Improved After JNNURM’ in Inclusion’s July-September 2013 issue.  I agree with the writer that just creating assets is not enough. This process has to be backed with appropriate creation of infrastructure. This would be like manufacturing an excellent car but not a smooth road to run it on. If the tow things do not go hand in hand, the funds spent on creating assets will be wasted. This also means that decisions on building infrastructure will have to be fast-tracked and the implementation process has to be tightened. The culture to meet deadlines is sadly missing in our country and most projects, not just infrastructure ones, go into time overruns, which, in turn, lead to an escalation in cost. This means that funds for some other project somewhere down the line will face a crunch and the whole saga about development will come a full circle.
K M Prabhakar on email

Corruption one of the major issues that is debated all over, be it on street corners or television studios or Parliament. The figures clearly point at the role of political class in curbing this practice – in the States where there is political will and the leadership is strong, some success has been achieved in keeping a check on corruption. But those States which are more often and not in political turmoil, the incidence of corrupt practices increase. This is not to say that society has no role to play in this. Corruption can only be rooted out to a large extent if each citizen takes a pledge not be corrupt in his or her daily life. INCLUSION brings out these issues very well.
Kamala Grover on email




The content of the magazine is very educative and informative.
K K Pradhan, Secretary, Department of Information Technology, Government of Sikkim

The design and content of INCLUSION are indeed very impressive for which I convey my deep appreciation to you and your team.
Sudhir Krishna, Secretary, Ministry of Urban Development

Regarding your concern about poverty and the economic slowdown. May I suggest the following:

1. When all the macro fundamentals are good, economic slowdown is mainly on account of speculative activity and the ensuing elections. Therefore, all journalists must do their work professionally and should not spread rumours against likely catastrophes. India is a strong country and if you look around the globe there are very few nations growing at even 5.5 per cent, which is the predicted growth in India.

2. If you look at the 2-tier and 3-tier cities today, tremendous growth is taking place because of our young entrepreneurs, and many places like Guwahati and Raipur have been transformed by this development.

3. Our power production today is 100 per cent more than 10 years ago and our exports are five times more than that of 2000-01. Therefore, it is not correct to criticise the economic slowdown as a trend. In a business cycle, there are a few years of downslide which is what is being reflected now. Our industry and those in the speculative business must work positively and provide the right environment which will ensure that negativism does not seep into fertile minds.

4. We have the best of professionals to handle the situations but they must not be made targets of personal attacks, or be criticised without substance, because then they lose the energy, and the motivation required during the times of stress.
J K Dadoo, Joint Secretary, Department of Commerce, Ministry of Commerce & Industry

The contents of INCLUSION are very informative, educative and useful. Kindly accept my heartiest congratulations and compliments on bringing out such a high quality publication. It is indeed a good academic initiative for overall socio-economic learning and development of our country.
Lalit K Panwar, Secretary, Ministry of Minority Affairs

It was interesting reading INCLUSION, especially its cover story “What went wrong with the India growth story”. Having gone through the magazine, I do agree that there is a great need for focused attention on the part of all policymakers and thought leaders, both in the government and outside to work together for a common purpose, i.e., how to address the various burning issues faced by our country. Economic growth is an essential part of a country like India for overall improvement of the standard of living of the people and to alleviate poverty. There has been lot of deliberations and discussions on financial inclusion in the past and the role, which has been played by government, financial sector, regulators and NGOs. There is a need for collaborative approach and unity of thought for a common purpose. We all know what is wrong with our economic slowdown as well as other problems faced by the country. Even solutions are available and known to our intellectuals but what is lacking is leadership and a desire to implement the required solution, which will help in reversing the process of slow economic growth and other important issues affecting the society’s growth.
Jagmohan Garg, Vigilance Commissioner, Central Vigilance Commission

The cover story on “What went wrong with the India growth story” is quite thought-provoking. The divergent views of great minds from each industry not only provide insights but also hint of solutions. I congratulate you on bringing in such a deep knowledge sharing on Indian economic growth, in the magazine. The articles on financial inclusion, insurance inclusion and self-help groups supplement the main story quite well.
M Narendra, Chairman & Managing Director, Indian Overseas Bank

The contents of INCLUSION were quite informative and useful. Looking forward to receive your subsequent issue on MSMEs.
Krishna Kumar, Chief General Manger (SME), SBI

The issues covered in INCLUSION are topical and make for interesting, thought-provoking reading. I look forward to the subsequent issues.
Biswajit Mohanty, Managing Director & CEO, SBI Pensions Funds

The latest issue of INCLUSION has dealt in  detail with the economic slowdown in India, the issues involved and challenges to be faced for reaching a minimum 8 per cent growth. We agree with Dr K C Chakrabarty’s opinion that there should be sincere efforts both by the banks and the public in general for the success of the government’s efforts for achieving financial inclusion. We will be providing the details of our bank’s initiative for financial inclusion to be used in your studies and articles.
S S Bhat, General Manager, Canara Bank


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modinomics
Q & A »
Indian Financial Sector on the Edge of a Precipice says Yashwant Sinha
Excerpts from an interview with Sameer Kochhar, Editor-in-Chief, INCLUSION
Question: What do you think of India’s financial sector performance?
Answer: We are really on the edge of a precipice in India as far as the financial sector is concerned. A declining, decelerating economy has created enormous problems for our public sector banks ...read more  

 
 
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Feedback - Inclusion:
Effective Leadership Is The Answer


The article by Mr Tarapore on the 'Financial problems of MSMEs' is an excellent piece, a well researched one.  RBI, SIDBI et al should look at the issues flagged by the author and see that the MSME sector gets better deal. As he has mentioned it is more a 'glamour' in lending to larger units than MSMEs. See the way every banker has walked in to lend to King Fisher Airlines which has left a huge NPA of over Rs.7000 crore with very little hope of recovering it from the owners. Recently, the newspaper report mentions that the CBI when approached the SBI, the consortium banker to provide certain information on KFA, the latter had refused to do so. The RBI has also not taken any forensic study to see if any complicity in financing such large units. It is sad its own representatives are on the Boards of these banks which have lent huge loans to KFA and others. It is sad to see that Mr Mallaya is happily watching the IPL matches cheer-leading his cricket team while 1000s of KFA employees are in the lurch without any pay for months on. Will RBI listen to the cries of common man? 
Dr S Santhanam PhD(Eco), CAIIB General Manager (Retd), NABARD & Consultant - Development Finance Pune

Feedback - Inclusion:
Ideas for Growth, October-December 2013



I appreciate your thoughtfulness.
Manohar Parrikar, Chief Minister, Goa

 
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