Unrealistically yours

Editor S S Dhawan’s column on Government’s performance (Don’t believe in Economic fairy tales – Sept 22) should have been captioned “Unrealistically yours” instead of “Unfaithfully yours”, fairy tales being imaginary. Investment, jobs and rise in incomes will accrue in that order when longterm policy measures start showing result in the long run. It is true that private investment is Sluggish and cautiously progressing but that is attributable to the sudden demonetisation coupled with GST introduction and undertaking

corruption free regime. RERA has added to the woes of the Real Estate Sector which was hitherto thriving on the parallel economy.Yet another thrust on digitsation goes a long way towards streamlining the cash flow and channelizing good money to be brought in mainstream of Banking sector. We must give credit to the Government for the bold decisions and sincerity in implementing them. No Government will be able to introduce foolproof measures to please all sectors. If private investment continues to be sluggish then public investment through budget provisions for creating jobs and rising incomes has to fill the vaccum, before long. At the same time, farm sector and MSMEs need greater thrust to generate primary job creation through skill development and appropriate technology. Loss making PSUs need to be auctioned and NPA affected Banking Sector requires to be brought under professional Management Performance by Government depends on proactive, positive and sustained cooperation of all stakeholders, including opposition and Media. Rome was not built in a day

— Sreekrishna N Phadnis