There was considerable hoopla when the Indian economy crossed the trillion dollar mark for the first time three years ago. Over the next 10 to 15 years, it is now almost inevitable that our economy will touch $3 trillion. Last week, I had an interesting chat with K.V. Kamath, ICICI Bank’s non-executive chairman, about the implications of such phenomenal growth. Perhaps with the exception of China, nowhere in the world has one seen such a large mass of people go through a period of unprecedented growth. Even though China’s march began in 1978, the real boom in that economy started in 2000 and lasted for more than 10 years. During this period, per capita incomes have trebled there.
Set against the backdrop of last week’s Union Budget, that’s exactly what this special edition attempts to do. Associate Editor Dinesh Narayanan and Principal Correspondent Udit Misra lay out the big challenges facing the country over the next decade. Their essay picks up clues from the Budget speech and then focusses our attention on four hot-button issues that will keep our policy-makers awake at night.
We then pick up the four big bets that this government has made — education, homeland security, climate change and roads — and look at how each minister in charge is using a new approach to drive his agenda.
Finally, the concept of inclusive growth suggests that the benefits of development must touch all our states in ample measure. Yet in states like Bihar and Uttar Pradesh, the human development indices are almost as bad as that of African countries. So why can’t we learn to replicate the success in one state in another? We’ve picked out two important stories of transformation that offer critical lessons. Associate Editor Malini Goyal’s family quit Bihar more than a decade ago. Quietly but surely, under Chief Minister Nitish Kumar, Bihar has undergone a huge upheaval for the past four years. Malini returns to her home state to discover why good governance can make a difference even in a seemingly hopeless situation. Make sure you read her personal account on page 68.
The agricultural crisis has tormented the minds of policymakers and farmers alike. Some weeks ago, we found the answers in unexpected quarters: The state of Gujarat. In the last few years, Gujarat’s agrarian sector has grown at three times the national average. Consulting Editor R.N. Bhaskar travels to the hotspot to bring you an amazing story of agricultural revival. It underscores my belief that we don’t need new solutions. All we need is political will and foresight.
(This story appears in the 19 March, 2010 issue of Forbes India. You can buy our tablet version from Magzter.com. To visit our Archives, click here.)
The politics in India is different from the politics in other government in the world. It is a federal parliamentary government. Federal system is wherein there is division of government powers but the national government still holds more power than the local government. A parliamentary government is where the legislative and executive are in one department, held by the ministers and led by the Prime Minister that was chosen by through a vote by the ministers. In this kind of government, there is still a president that is considered as a symbol of the State but the Prime Minister is the head of the state. In this kind of government, the Prime Minister does not have a specific term and may be voted out by the ministers. Their government is based on the dual polity system or the double government. This means there is central authority and its states surrounding the same.
The politics in India started late because India was in colonization by the Britain. When British forces chose to let go of India – that is when the democracy started within India. The constitution of India was enforced in 1950. It is the longest written constitution, but has been amended many times.
Basically, the government of India is composed of the lower house and upper house, with the federal system like the United States. The Upper house is called the Rajya Sabha that represents the states of the Indian Federation and the lower house, Lok Sabha, which represents the people of India as a whole. The lower house, as patterned from the British House of Commons.
At present, the President of India is Ram Nath Kovind. He is a Dalit, India’s lowest Castes that was picked by an electoral college to become president last July 2017 elections. He has gained the hearts of the people because he is a Supreme Court lawyer and was a governor of the Northern state of Bihar. Despite the fact that the election of the president is merely symbolic, his role is still essential to the politics of India.
On the other hand, the Prime Minister is the Hindu nationalist Narendra Modi. He is known for his strong combat against corruption in the government and its weak growth. Just as the trend of the governments right now who clamor of stronger and stern leadership in the highest position of government. He won through a landslide victory last May 2014 parliamentary elections. At his time, the government is single handedly won by a majority of one party only. PM Modi wanted to create a stronger economy in India. Apparently, there are issues that surround the election of PM Modi. He has sided with religious sentiment at times. The most controversial is the appointment of a Hindu prelate as chief of minister of Uttar Pradesh. Nonetheless, he has indeed kept his promise to keep the economy of India stronger. From 6.4% in 2013, the economy grew to 7.9% in 2015. India became the fastest growing economy in the world because of PM Modi.
PM Modi won the parliamentary elections because of his promised reformation. But with his leadership, he has showed to be a great administrator rather than a reformer. There were no extreme changes in India, instead, he has lead the government in smooth running compared to the former leaders. But there is a big chance for the government to arise better because of PM Modi. According to political analysts, PM Modi is playing it right and waiting for get the hearts of the majority in the upper house for him to impose bigger reforms.
PM Modi does not show any hint of his plans for India. He is very careful of his actions. Whatever his plans are, India has still nonetheless has achieved better when Modi won the parliamentary elections.