August 29, 2013

An Emotional Letter to the Economist, Dr Manmohan Singh..

Dr. Saab Namashkaar..!!



Hope you are okay, healthy & kicking!
The Food Security Bill has been passed in Lok Sabha, but should I congratulate you?

No! I would rather congratulate Her Highness the visionary Sonia Gandhi for her Vote Security Bill. You know it better than anyone that its the worst time to undertake such a bill but you are helpless seeing the interest Her Highness has shown in it. Passing the Food Security Bill is good politics, passing it not is good economics. And we all know who wins the unfortunate battle of Politics Vs Economics, that too when the elections are lurking round the corner.

Sir, people have known me on social networking sites as one of your most vocal adversaries. I have hammered & bludgeoned you through my writings in letter & words for most of your tenure as the PM of India. But today, am in a different mood. I'm writing this letter to exhibit a different sort of emotion. Today, I sympathise with you & understand the predicament you must be going through. I know that when the world sleeps you remain awake to self-pity & imprisonment. Every morning while having the morning tea you helplessly ponder over India's deteriorating economy. You represent a 100 billion people but deep inside you are a loner. I know you might feel embarrassed reading this letter, thinking how could a young little chap decipher your state of mind so well.

Mr Prime Minister, I'm writing this letter to you based on some of my recent observations. In the Lok Sabha, Her Highness had to take the mantle into her own hands. She had to personally lead this initiative to get the bill passed because you, Mr Manmohan Singh, as a learned economist must not have been in its favour at this point of time. I know that you clearly understand the bearing such an act would take on the economy. Unfortunately for us, the highest moral ground you could take was to simply NOT BE IN FAVOUR because you don't have the guts to steer the government policy as per your discretion.

Today, the nation is in a fix. Investors, who once entered into the Indian market thanking your liberalisation policies of 90s, are fleeing our market. The Rupee has stooped so low that its shamelessly in position 69 with the dollar on the higher side. An economy which boasted of high Forex reserves, healthy account deficit, growth & robustness not very long ago is caught in a quagmire. You know the state of economy far better than me but you can't disagree my saying that the situation in India is of a crisis, an economic emergency.


Fortunately, the best person to sail us through these turbulent times is in the chair of the Prime Minister. You have done it earlier & most of us Indians are a fan of how you helped recover the economy in the 90s. I personally liked the manner you got the Indo-US nuclear deal done, infact that was the only time in your tenure that you looked in control of the proceedings.

Whatever the upcoming 2014 election results, there is no way you would be the next PM. And I must remind you that you'll go down in history as one of the worst Prime Ministers ever. Leave aside opposition or the media, your own party will discredit you, disown you once your term is over & every congressman will label all that was wrong with UPA rule as the PM's personal failure. This is what happened to Narasimha Rao & this is what will happen to you. History will repeat itself. I know you are not that bad a PM as the history books will project you, but you have neither acted with the dignity & style that a prime minister of the world's largest democracy should have.

This economic scenario might be a threat for India, but I see an opportunity in it for you. An opportunity to salvage what you've lost. An opportunity to establish that the countrymen's belief in you was not unfounded. Sir, doesn't your heart bleed to see people's loss of hope in you!

In a crisis like this, any country would die to have an economist at the helm of affairs. Fortunately, no Indian has a better CV than you have as an economist. This is the last ditch moment to rise above your helplessness & break the shackles that tie you. This crisis can be a saving grace & blessing in disguise to help you unburden. The Food Security Bill is through in the Lok Sabha & it might very well help the congress garner some votes but will surely take away the last bit of respect people have in you. If you show the courage to stand & speak, the country, opposition, the media will speak with you in the same tone. No Sonia or No ruling party can overrule what the PM wants & stands for. 

I really wish that the Prime Minister of my country gets a dignified exit with his head held high. And if you don't I'll continue bludgeoning you as my daily routine, you being my favourite object of ridicule!

You know, every Indian except the concerned person in power has a solution to any damn serious national problem. Giving unsolicited advice is our favourite pastime & I'm no less! So, Dr. Saab, I would conclude my emotional outbursts by advising you on how to resolve this economic crisis.

You have only two options Mr Economist..

  1st)  Stand up for what you believe in. Take your cabinet in confidence. Talk to Her Highness. Take the bull by the horn. Stall the Food Security Bill. Follow the principles of good economics, leave the rules of good politics aside. The power is with you. You are still our Prime Minister & the most able man to ride this crisis.


OR..


  2nd)   As your Commerce Minister has already suggested we might have to pledge Gold to save our economy as we did in 1991. My suggestion is why put the country’s Gold on collateral when we have so many highly qualified Gold Medallist economists in the government. Please collect your medals & we shall have enough Gold to sail us through. Furthermore, none of us would then say that your Gold medals are of no use.

So Mr Economist, take a stand or sell your Gold medals..!!



Yours critically,
Anupam Singh
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