Ra­jan Hails Govt, Says In­dia on Cusp of a Rev­o­lu­tion

Be­lieves eco­nomic con­di­tions ripe for sub­stan­tial leap in pro­duc­tion

The Economic Times - - Front Page - Our Bu­reau

Mum­bai: Re­serve Bank Gover­nor Raghu­ram Ra­jan, whose pro­nounce­ments on the econ­omy have so far been cau­tious and con­ser­va­tive, on Thurs­day lauded the gov­ern­ment’s ini­tia­tives on in­fra­struc­ture and gave an up­beat as­sess­ment of In­dia’s growth prospects.

Ra­jan said In­dia could be on the verge of a rev­o­lu­tion and said ev­ery­thing is in place for a leap in pro­duc­tion, whether it is man­u­fac­tur­ing or ser­vices. He said the Cen­tre’s ini­tia­tives in in­fra­struc­ture and the growth of pri­vate sec­tor ecom­merce firms such as Snapdeal and Flip­kart have cre­ated “huge change in ware­hous­ing and lo­gis­tics”.

“I sus­pect we are on the verge of a rev­o­lu­tion here,” Ra­jan told a CII con­fer­ence in Mum­bai in con­ver­sa­tion with Sin­ga­pore’s Deputy PM Thar­man Shan­mu­garat­nam.

“Was there any ap­pli­ca­tion of mind on this is­sue that you are giv­ing per­mis­sion for an event like this when such a huge amount of wa­ter is re­quired,” the court said, point­ing out that for the fes­ti­val of Holi there was an ap­peal that it should be a dry Holi. “How can you waste wa­ter like this? Are you go­ing to main­tain gar­dens and sta­di­ums when peo­ple are dy­ing? Is this what you are say­ing?” it said.

The high court has asked the Ma­ha­rash­tra gov­ern­ment to file a re­ply on April 12 on sources of wa­ter to be sup­plied to sta­di­ums. At the moment, the de­ci­sion on the re­main­ing 19 matches that are to be played at the three sta­di­ums in Ma­ha­rash­tra has been kept pend­ing. Af­ter the open­ing match, the next one be­ing played in Ma­ha­rash­tra is on April 16, in Mum­bai.

Hear­ing the PIL for the first time on Wed­nes­day, the court had sug­gested shift­ing the matches be­ing played in Mum­bai, Pune and Nag­pur to other states where there was no wa­ter prob­lem. Crit­i­cis­ing the crim­i­nal waste of wa­ter at a time like this, the court had ob­served: “Only if wa­ter sup­ply to BCCI is cut, you will un­der­stand.”

“How can you (cricket as­so­ci­a­tions and BCCI) waste wa­ter like this? Are peo­ple more im­por­tant or your IPL matches? How can you be so care­less? Who wastes wa­ter like this? This is crim­i­nal wastage,” a di­vi­sion bench, headed by jus­tices VM Kanade and MS Karnik said while hear­ing a pub­lic in­ter­est lit­i­ga­tion filed by Lok­satta Move­ment, a non-gov­ern­men­tal or­gan­i­sa­tion. The Mum­bai Cricket As­so­ci­a­tion’s ad­vo­cate had told court ear­lier that they would be us­ing over 40 lakh litres for seven IPL matches to be held in Mum­bai. The state board had also said that the wa­ter be­ing used was non-potable.

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