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Mumbai, Feb 22 () India has some distance to go in fully shifting from pro-crony to pro-business policies, Chief Economic Adviser Krishnamurthy Subramanian said on Saturday. It will be the pro-business policies that will enable the "invisible hands of the market" and also take the country to the goal of USD 5 trillion GDP, he added. "Pro-business policies are those that enable fair competition in the country. We have some distance to go in terms of enabling that fully. Pro-crony policies on the other hand just help incumbents and that is something that we have to stay away from in enabling the invisible hands of the market," he said at an alumni conference of his alma mater IIT-Kanpur here. Indian policymaking has been criticised for favouring crony capitalists in the initial decades after Independence, till the country shifted gears by adopting liberalisation in 1991. Subramanian said after the CAG's report on telecom spectrum allocations came out in 2011, investor returns from "connected companies", a euphemism for crony firms, have been very low as compared to the broader indices. The problem with cronyism is that it is not better business models and processes which drive the growth, he said, adding that we should always aim for "creative destruction" where the incumbents are challenged. In a critique of the dominant policy choices in the initial decades after Independence, Subramanian said "the tryst with socialism did not deliver the tryst with destiny", referring to first prime minister Jawaharlal Nehru's famous speech when India attained freedom. He also made a strong case for not depending only on recent work in economics to make policy choices and neglecting age-old texts like the Arthashastra. "Scholarly work isn't something that was written in the last 100 years but dates back millennia," he said. The Arthashastra stresses on ethical ways of creating wealth, he said, adding that we need to focus on creating trust in the markets as well. If governance standards have to be increased in the country, there has to be a greater focus on disclosing related-party transactions, the CEA said. The comments come in the wake of frauds like the one at non-bank lender DHFL. The Union Budget's thrust on 'Assemble in India' should not be seen as substitute to the government's flagship 'Make in India' programme, but as a complementary aspect which will act as a precursor to other goals, he said. On the focus on 'Assemble in India', Subramanian cited the case of Suzuki's entry into the country in 1980s and the developments in the auto sector since then to illustrate that simple assembly of parts to make a car is a precursor to manufacturing and also intellectual property creation. Pointing out to the recently released Economic Survey, he said over four crore well-paying jobs can be created in the country by 2025 by focusing on assembling for the world, and the same can go up to eight crore by 2030. Asked about the Budget's thrust on imposing tariffs on certain sectors and how it has been criticised as being protectionist by some, Subramanian said we need to make a distinction between duties that are imposed on finished products against those on raw materials or intermediate goods which hurt exports. "We need to move towards far more open trade policies on intermediate goods and raw materials to enable exports," he told reporters. To a question on external member of the Monetary Policy Committee Chetan Ghate's pitch for more structural reforms, Subramanian said all measures like rate cuts and reforms work with a lag and we should allow time for their benefits to accrue. AA ABMABM

India needs pro-business, not pro-crony policies, says CEA

India will be celebrating its 69th <a href="http://www.businessinsider.in/searchresult.cms?query=independence+day">Independence Day</a> on August 15 and guess who else would be revelling in patriotic fervour with us. It’s <a href="http://www.businessinsider.in/searchresult.cms?query=google">Google</a>! 
 
The tech giant is going to take us on a virtual tour that will show historic moments of India’s <a href="http://www.businessinsider.in/searchresult.cms?query=freedom+struggle">freedom struggle</a> and end of the <a href="http://www.businessinsider.in/searchresult.cms?query=british+raj">British Raj</a>. 
 Once you take the tour, <keyword id="6355629" type="CITY" weightage="100" keywordseo="Google">Google</keyword> will also make sure you hear India’s first Prime Minister <a href="http://www.businessinsider.in/searchresult.cms?query=jawaharlal+nehru">Jawaharlal Nehru</a>’s famous ‘tryst with destiny’ speech, when India attained independence and reminisce the moment when India’s national flag unfurled at the Red Fort on August 15, 1947. 
 
Google tour will also take you to majestic Aga Khan Palace built in 1892, which served as a prison for iconic peace icon <a href="http://www.businessinsider.in/searchresult.cms?query=mahatma+gandhi">Mahatma Gandhi</a> and his wife Kasturba Gandhi from 1942. 
 
You will be part of the historic Dandi march-also known as the Salt Satyagraha, too that happened in March 1930. 
 
Apart from the history, <a href="http://www.businessinsider.in/searchresult.cms?query=google+maps">Google Maps</a> along with along with the Cultural Institute will take you to <a href="http://www.businessinsider.in/searchresult.cms?query=india+monuments">iconic monuments</a>. 
 “There are a range of images, photos and virtual tours you can take with <keyword id="97416" type="ORGANIZATION" weightage="100" keywordseo="Google-maps">Google Maps</keyword> and the Cultural Institute, including a special collection of images and artefacts from the Nehru Memorial Museum and Library,” said Suren Ruhela, Director, Google Maps. 
 
Be it Cellular Jail in Port Blair or Jallianwala Bagh in Amritsar, you will sneak into the hardships experienced by the freedom fighters during their struggle for India’s Independence. 
 
It will also include special collection of images and artefacts from the Nehru Memorial Museum and Library, Lahori Gate, Mughal Citadel, etc.

Google will take us on a tour of India’s freedom struggle on Independence Day!

The swearing-in ceremony of the 15th Indian Prime Minister, <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword>, was followed by another event – the 50th death anniversary of the late Prime Minister Pandit <keyword id="6360386" type="PERSON" weightage="100" keywordseo="Jawaharlal-Nehru">Jawaharlal Nehru</keyword>. Interestingly, everything I read about Jawaharlal Nehru this year was less about Nehru and more about Modi. It mainly revolved around a hypothetical comparative analysis between the two personalities and the dying legacy of the <keyword id="1575" type="ORGANIZATION" weightage="100" keywordseo="Congress">Congress</keyword>. 
 
Nehru, a visionary leader, thought of India as a modern and self-reliant nation. Although his perceptions and policies are now questioned and often ridiculed by many, in order to understand the man and his vision, it is important to understand the circumstances under which he took the responsibility of building a newly formed India. 
 
Nehru, who was a practising barrister, left his career to join India’s freedom struggle. He became the President of the Indian National Congress in 1929 and along with Mahatma Gandhi, led the country’s fight for independence. Later on, he went on to become the longest-serving prime minister of India. 
 
He firmly believed that religion and politics should be dealt with separately. He was strictly against defining India on the basis of religion, especially when 560 princely states were to sign the Instrument of Accession in India’s favour. 
 
He promoted education and ensured equal rights for women. He brought the Hindu Code Bill to the table, which gave women the right to inherit property and the right to divorce. He worked for the industrialisation of India as it was essential to make the country self-reliant. It was during his tenure key institutions such as DRDO and ISRO were set up. 
 
His clarity on world affairs and history was commendable. This has been exemplified through his prolific works such as Glimpses of World History and Discovery of India. It had helped him shape the policies for India once he came to power. He gave importance to agriculture but did not leave industrialisation behind. Nehru invested in public institutions with limited private interference and gave priority to parliamentary procedures. 
 
Nehru was a Socialist and a secular personality, so amply reflected by his policies. However, he was never inclined towards joining any of the blocs during the Cold War. He clearly understood the dangers of forming alliances with either of the blocs. Therefore, the Principle of Non-alignment came into existence. India was among the first colonies to get Independence, which was followed by many other Asian and African states. Hence, India’s policy of Non-alignment evolved into a non-alignment movement, featuring a group of independent states who did not want to join any power bloc. 
 
Within a short span, he managed to put India on the global map by playing a strong role in ending the Korean War and by signing the Nehru-Liaquat Pact on the treatment of minorities in India and Pakistan. He stood against racialism and stood for independence of all colonies. 
 
However, one of the blunders of Nehru’s foreign policy was the way he miscalculated China’s intentions and military capabilities. Some thinkers still believe what Nehru did was the only choice he had. However, the reason for his untimely death was primarily the humiliating defeat in 1962 for which he is flayed even today. 
 
Finally, in his Tryst with Destiny (a speech made by Nehru to the Indian Constituent Assembly in The Parliament, on the eve of India’s Independence), Nehru posed a question that is still relevant today when the power dynamics in the sphere of international relations are changing rapidly. 
 
“The achievement we celebrate today is but a step, an opening of opportunity, to the greater triumphs and achievements that await us. Are we brave enough and wise enough to grasp this opportunity and accept the challenge of the future?”

In
Retrospect: Is Nehru’s Vision Still Relevant For Modi’s India?

NEW DELHI: Those who were there will always remember the sea of heads with white caps, tricolours fluttering in the winter wind and the sparkle of hope on every <keyword id="6354944" type="ORGANIZATION" weightage="40" keywordseo="Aam-Aadmi-Party">Aam Aadmi Party</keyword> supporter's face at the packed Ramlila Maidan on Saturday. For them, it wasn't just a swearing-in ceremony; it was an open-air party of the common folk, a showtime for people's power. 
 And the speech that their <keyword id="19496" type="POSITION" weightage="40" keywordseo="leader">leader</keyword> <keyword id="260213" type="PERSON" weightage="40" keywordseo="Arvind-Kejriwal">Arvind Kejriwal</keyword>, the new <keyword id="5269" type="POSITION" weightage="60" keywordseo="Chief-Minister">chief minister</keyword> of Delhi, delivered after the swearing-in ceremony was no ordinary speech either. For him, this was a "tryst with destiny" moment. And he seemed to be speaking straight from the heart when he declared, "The politics of this country had destroyed everything but in these assembly elections the people have shown that honest politics is possible. Elections can be fought with honesty and won with honesty." The crowd, about 80,000 inside and outside the venue, cheered in approval. 
 Many of them had come from far and wide: Haryana, Uttar Pradesh, <keyword id="6358126" type="CITY" weightage="40" keywordseo="Himachal-Pradesh">Himachal Pradesh</keyword>, Rajasthan, <keyword id="30033" type="COMPANY" weightage="40" keywordseo="Bihar">Bihar</keyword>, Telangana, <keyword id="20154" type="ORGANIZATION" weightage="40" keywordseo="tamil-nadu">Tamil Nadu</keyword> and elsewhere. School teacher Nimma Jairam Reddy, 44, travelled for 28 hours from Medak district in Telangana. "In the past 60 years, the difference between the aam aadmi and the amir aadmi has grown. To end it, traditional politics must die and be replaced with moral and modern politics which Kejriwal represents," he said. 
 
Kejriwal's speech was politically mature, and marked by clarity of thought. He spoke of announcing a phone number in two days – a complaint hotline to catch bribe-givers red-handed. He also assuaged fears of the honest bureaucrat. "Today many people tell me, Arvindji, stay alert, because bureaucracy would not let you succeed. I don't believe this. Over the past few days, I have met some Delhi bureaucrats. I have no hesitation in saying that if some people are corrupt, there are several who are highly upright and want to serve the nation," he said. 
 He also urged his partymen too to stay on the right path. "I request my party ministers, MLAs and workers to never be conceited and arrogant. Our struggle will go waste if our MLAs and ministers become arrogant. <keyword id="6356115" type="CITY" weightage="40" keywordseo="AAP">AAP</keyword> was formed to overthrow the arrogant parties and I don't want another party to come up to put an end to our arrogance. Even when our volunteers go to mohallas and colonies, they should be humble since we are desh sewaks. We didn't come here to become chief ministers or ministers but to serve the country and we should never forget that we are sewaks." 
 
The anti-graft activist also spoke about the crushing burden of raised expectations. "Sometimes I am very scared as people have pinned their hopes on us and I pray to God to give us courage and keep us on right track so that we don't commit any mistake." 
 
Towards the end of his speech, Kejriwal urged the crowd to take an oath against bribes. Most joined him in this moment of public engagement in the process to bring about positive social change. 
 S Selvaraj was among those who did. He came from a village near the famous Kolli Malai hills in Tamil Nadu. It was a 72-hour <keyword id="6374782" type="UNKNOWN" weightage="40" keywordseo="journey">journey</keyword> first by bullock cart, followed by bus and train. "I like his concepts of humility and simplicity in politics. That's why I am here," he said. Others spoke of having taken leave from office, even left behind an ailing child, to be there because it was "an extraordinary day" for them. 
 This looked like a real crowd of party workers and common people; not the paid hordes who often arrive in truckloads at political gatherings. This was also a far more relaxed crowd than what had gathered during <keyword id="57766" type="PERSON" weightage="40" keywordseo="Anna-Hazare">Anna Hazare</keyword>'s fast at the same venue in 2011. 
 
A banner indicated the people's mood: Free hugs for Aam Aadmi, it said. No surprise, some supporters carried posters of the film, Nayak, where the hero becomes a chief minister for a day. But they had replaced Anil Kapoor's mug with Kejriwal's. It was evident he was their rock star. 
 
 
 Kejriwal, who had trounced <keyword id="39794" type="PERSON" weightage="40" keywordseo="Sheila-Dixit">Sheila Dixit</keyword> in the polls, also took care to name gods of different religions while hailing the win as a miracle (kudrat ka karishma). He thanked "parampita parmeshwar, parmatma, ishwar, allah and wahe guru" for the triumph. Even while paying tribute to late colleague <keyword id="1246005" type="UNKNOWN" weightage="40" keywordseo="Santosh-Koli">Santosh Koli</keyword>, he said, "Hindu dharma says that while the body perishes, the soul is immortal. Today, if Santosh's soul can see us or hear us, it will be happy to know that her sacrifice did not go waste." 
 
The gods seem to be smiling on Kejriwal, in any case. In a week when the national capital was often blanketed by grey, unsympathetic clouds, the sun shone brightly on Saturday. There couldn't have been a better day to attend a political gathering or play Test cricket. 
 
Times View : A beautiful moment for our precious democracy 
 
No one could have imagined at the beginning of 2013, or even six months ago, that Arvind Kejriwal would return to the Ramlila Maidan, two and a half years after Anna's big anti-corruption fast, to take oath as chief minister before the year was out. This has been a peaceful political revolution of epic proportions – and we, as a nation, should feel proud. Kejriwal may be the man of the moment, but this not about him – or any one person. This is about the idea of India. We have been called a flawed democracy, and indeed there are times when a sense of hopelessness takes over; but it's also the flaws that help us appreciate beauty when it shines through. There is no greater beauty on earth than to behold the will of the people be given voice without having to resort to violence. So let us pause for a moment to cherish the precious, and yes imperfect, beauty of our democracy. 
 For Kejriwal, the real challenge – of governance – begins now. He has changed the rules of the game, playing the role of an outsider with consummate political savvy. Whether his 'movement' can go national will depend on how wisely he runs Delhi. It will also depend on whether the <keyword id="1575" type="ORGANIZATION" weightage="40" keywordseo="Congress">Congress</keyword>, having extended support, is willing to give him a fair chance. Its decision to boycott the swearing-in ceremony does not bode well for the future. The party that helped give us this beauty we call democracy should know that it has diminished itself by its churlishness. It should also know that a little grace never hurt, even in politics.

You Searched For "tryst with destiny speech" and got 4 results

India needs pro-business, not pro-crony policies, says CEA

PTI

Google will take us on a tour of India’s freedom struggle on Independence Day!

BI India Bureau

In Retrospect: Is Nehru’s Vision Still Relevant For Modi’s India?

Ishleen Kaur Takkar

The Day Aam Aadmi Had A Party: Arvind Kejriwal Takes Oaths, Hits All The Right Notes

Times Of India

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