Description
Growth and Sustenance- Boom-bastic
Growth and Sustenance- Boom-bastic
By: Amit Bhushan Date:
9
th
Sept. 2014
in! newspapers are ha"in# a $e%d day to pour out euphoric &news'
about the #o"ernment and #o"ernance. A%% !inds o( &stoc!' are risin#
and mania is bui%t that this is %i!e%y to continue due to e)orts o( the
%eader in #o"ernment. *he (act is somethin# any seasoned bureaucrat
bac! o( the hand !now%ed#e. +hen &c%earances' are imparted to
&pro,ects' the &$nancia% acti"ities' be#in. *his re-uires con"incin# ban!s
and retai% in"estors re#ardin# &pro,ect' and its under%yin# &"a%ue' so
that they a#ree to cou#h up hi#h e-uity price or re-uired credit. *hat's
actua%%y a "ery sma%% part o( the who%e %on# run p%ay.
+hat is re-uired o"er a period o( time is to &mana#e' the pro,ect
pro$tab%y. +hi%e it is undoubted%y the &,ob' o( the promoters. howe"er
what they re-uire is a &stab%e' %on# term po%icy en"ironment as we%% as
predictab%e re#u%atory en"ironment. +hi%e #un#ho news (rom &your
(riend%y media' ta%!s about &speedier c%earances' and what it is doin# to
&mar!ets' /nothin# much rea%%y happens due to c%earances a%one.
e0cept that ban!ers and retai% in"estors are then e0pected to cou#h
out &their share'1 any wor! on pro,ect starts a(ter the $nancia% c%osure
which then may be e0pected to &add "a%ue' to the &rea% economy'2.
3itt%e thou#ht or %itt%e in! is bein# wasted o"er petty considerations %i!e
the &stabi%ity o( po%icy en"ironment' in the #i"en &inno"ation'
en"ironment. A%so %itt%e ana%ysis pours out on e0pected predictabi%ity
(rom re#u%atory machine re#ards interpretation o( 4u%es which has to
accommodate &inno"ations' in mar!et without the 4u%es ha"in# been
&updated' a(ter care(u% ana%ysis and &a%%' considerations. *he ape0 court
bein# sei5ed with e0traneous issues 6 7imsy considerations1 and the
re#u%ators sin#in# paeans to &mystica% 6 earth sha!in# %eadership' o(
the %eaders in #o"ernment sets the en"ironment. *he sane "oices in
the mar!ets seem to ha"e a%% but %ost out. de(endin# their own rear
side due to "arious reasons.
erhaps it's the time (or &%eaders' to ta!e up issues re%e"ant to peop%e
and initiate discussions on &#o"ernance' or the %ac! o( it rather than
sin#in# the &%eadership' son# in chorus and (or re#u%ators and ,udiciary
to ta!e up its tas! o( &imp%ementin#' ru%es in a sane manner to brin# in
discip%ine to society.
doc_264876897.doc
Growth and Sustenance- Boom-bastic
Growth and Sustenance- Boom-bastic
By: Amit Bhushan Date:
9
th
Sept. 2014
in! newspapers are ha"in# a $e%d day to pour out euphoric &news'
about the #o"ernment and #o"ernance. A%% !inds o( &stoc!' are risin#
and mania is bui%t that this is %i!e%y to continue due to e)orts o( the
%eader in #o"ernment. *he (act is somethin# any seasoned bureaucrat
bac! o( the hand !now%ed#e. +hen &c%earances' are imparted to
&pro,ects' the &$nancia% acti"ities' be#in. *his re-uires con"incin# ban!s
and retai% in"estors re#ardin# &pro,ect' and its under%yin# &"a%ue' so
that they a#ree to cou#h up hi#h e-uity price or re-uired credit. *hat's
actua%%y a "ery sma%% part o( the who%e %on# run p%ay.
+hat is re-uired o"er a period o( time is to &mana#e' the pro,ect
pro$tab%y. +hi%e it is undoubted%y the &,ob' o( the promoters. howe"er
what they re-uire is a &stab%e' %on# term po%icy en"ironment as we%% as
predictab%e re#u%atory en"ironment. +hi%e #un#ho news (rom &your
(riend%y media' ta%!s about &speedier c%earances' and what it is doin# to
&mar!ets' /nothin# much rea%%y happens due to c%earances a%one.
e0cept that ban!ers and retai% in"estors are then e0pected to cou#h
out &their share'1 any wor! on pro,ect starts a(ter the $nancia% c%osure
which then may be e0pected to &add "a%ue' to the &rea% economy'2.
3itt%e thou#ht or %itt%e in! is bein# wasted o"er petty considerations %i!e
the &stabi%ity o( po%icy en"ironment' in the #i"en &inno"ation'
en"ironment. A%so %itt%e ana%ysis pours out on e0pected predictabi%ity
(rom re#u%atory machine re#ards interpretation o( 4u%es which has to
accommodate &inno"ations' in mar!et without the 4u%es ha"in# been
&updated' a(ter care(u% ana%ysis and &a%%' considerations. *he ape0 court
bein# sei5ed with e0traneous issues 6 7imsy considerations1 and the
re#u%ators sin#in# paeans to &mystica% 6 earth sha!in# %eadership' o(
the %eaders in #o"ernment sets the en"ironment. *he sane "oices in
the mar!ets seem to ha"e a%% but %ost out. de(endin# their own rear
side due to "arious reasons.
erhaps it's the time (or &%eaders' to ta!e up issues re%e"ant to peop%e
and initiate discussions on &#o"ernance' or the %ac! o( it rather than
sin#in# the &%eadership' son# in chorus and (or re#u%ators and ,udiciary
to ta!e up its tas! o( &imp%ementin#' ru%es in a sane manner to brin# in
discip%ine to society.
doc_264876897.doc