Confidence and Governance

This refers to ‘Why be so Glum, Guv Subbarao?’ (ET, May 4). The RBI’s stance on a growth forecast of 5.7% is quite pragmatic against the estimate of 6.5% put forth by PM’s Economic Advisory Council. Foreign investors’ confidence, as observed from deals in the airline sector and Unilever’s and Ikea’s investment, can best be described as localised. To enable this confidence to sustain and permeate to all sectors, the government needs to implement reforms in diesel, coal and gas pricing and getting Bills on land acquisition, etc, passed. But given the continued logjam in Parliament, this appears to be a distant dream. The government should, therefore, come clean on charges levelled against it and initiate steps against its erring members, as a mark of good governance. The Opposition, on the other hand, should prefer meaningful debate on the floor of the House instead of resorting to disruptive tactics. 

- V SRIDHAR, Kolkata (ET)