Rajan Hails Govt, Says India on Cusp of a Revolution
Believes economic conditions ripe for substantial leap in production
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.