Reforms hampered by disjointed approach: Jalan

Lack of coordination on economic, political and governance issues have have hampered the success of economic reforms in the country, according to Bimal Jalan, eminent economist, member of the Rajya Sabha and former governor of the Reserve Bank of India.

Delivering a talk on "Future of India: Some thoughts of economics, politics and governance" organised at the Calcutta Club here, Jalan said despite having the best talents in all these spheres, there has been consistent disjuncture between them.

"This is not the first time that India is passing through a comfortable economic condition - but the country has repeatedly failed to sustain the boom phase. It is the ideal time to take anticipatory measure to retain the present scenario", suggested Jalan.

The present coalition government incorporated small parties with adequate political power, consequently affecting macro economic policy issues, admitted Jalan. Jalan clearly blamed the administrative framework for the failure of some major initiatives.

"Despite having the country's best talents in the administrative offices, there has been persistent lack of good governance primarily due to political interference", he said.

According to Jalan, public apathy was a major concern. "Political representatives are never held accountable for their action. In fact, performing parties lost election on several occasions", he added.

He said on most occasions, politics had been self serving often at the cost of the country's welfare. Widespread acceptance of corruption at every level was another major threat to the economy.

"Perhaps there is an urgent need of redefining the judicial system. Often the complex procedures of the Indian judicial system are viewed with a negative spirit", said Jalan while speaking on the judicial system of the country. According to him, the crux of the problem was the mind set of the common people.

"Our mind set is still similar to what we had under the colonial rule. Mostly discussions are held with the old frame of mind which needs immediate change, looking at India's position now. New economic policies framed in true spirit according to the present scenario, supported by political parties and backed by proper and uninterrupted governance is the solution", said Jalan.