Wanted – Reforms on “Kaizen” Mode!

In the last few days, newspapers and online portals have been filled with nostalgic Op-Ed pieces on how the 1991 reforms happened as we celebrate 30 years of the reforms. These pieces by some of them who were part of “reforms team” then and other commentators often talk about the circumstances in which the reforms were unleashed, how the then Prime Minister Narasimha Rao weathered the political storm in taking some bold steps and how the then Finance minister Manmohan Singh and his team went about implementing them finally.

Yes, the “1991 reforms” was a significant event in our post Independent political history and in terms of impact on the ground, probably the most significant. Though it was not realised then, the reforms package helped to change gears of the country which was stuttering at a modest pace of growth all along, while the rest of the world was galloping.  It also helped lift millions of Indians out of poverty in the next 20 years.  So, it is apt that we give due recognition to the process and the people behind it and celebrate with much enthusiasm.

As a country, we are in a phase where we need the next reforms momentum. One that will define our growth trajectory for the next 30 years. In that sense, we need to now move on from living in past glory of what the 1991 reforms delivered and initiate the next cycle of reforms. So, what could they be? A reform is defined as a change brought in an existing system to make it better. Therefore there are reforms that result in incremental changes, thereby incremental benefits and there are reforms that are big which result in monumental changes and thereby impact. 1991 reforms can be grouped in the latter category.

 In the last 20 years, since the Vajpayee regime till now, it’s not that there have not been reforms of the big impact category in our country. But they have been few and far between. In the issue of reforms, I would like to see the glass as half empty. What we need is the next bust of reforms one shot that will change the course of our country forever and for the better. And if at all there is an opportune ‘muhurat’ for the same, it is this. Because when we come out of Covid hopefully very soon, we need to not just recoup the lost two years but get back to an irreversible high growth trajectory.  And for that, we need a whole set of big bang reforms that need to be unleashed ASAP. And I will group them in the following critical areas:

  1. Ease Of Doing Business: While we continue to say that we have improved our ranking on the Ease Of Doing Business front from before, those of us on the ground very well know that India continues to be a complex country to do business in and with. And the issue of “Central” subjects and “State” subjects adds complexity to the whole thing.  To put this in perspective, we have 1536 Acts, 69233 Compliances and 6618 filings to comply with for our businesses in our present regulatory environment.  There have been bits and pieces effort in states to remove/amend rules and regulations in the last few years. But these are just incremental changes and do not move the dial. What we need is a complete review of the existing rules and regulations across all states that include Central laws and state laws and a wholesale repeal of all the frivolous ones.
  1. Labour: This is connected to the “Ease Of Doing Business” but has scope beyond that as well in terms of ensuring competitiveness and achieving productivity as well. A paper I read on Labour Reforms mentioned that labour laws in India constitute 30% in terms of acts and 47% in terms of compliances in our regulatory framework! In terms of numbers, it is 463 labour Acts, 32542 labour Compliances and 3048 labour filings! Not that the existing regulatory environment has benefited the labour so far. The current labour laws cover only 9% of India’s employee base! So, there is an express need for simplified labour laws that will help the industry to grow while remaining competitive, will be fair to the employees while empowering them while bringing a majority of the labour force in its ambit.
  1. Infrastructure: It is undisputable that the general infrastructure in India has grown leaps and bounds in the last 20 years. There are two ways of looking at this. If we compare with where we were in the past, then of course, things are certainly better. If we look outwards and compare with our peers, then we will realise that we have still a long way to go in basic infrastructure. It is also a fact that with respect to infrastructure we are always in a perennial “catch up” and “Work in Progress” mode. And I will explain this with an example. In 2005, in the Nagoya city of Japan, a new airport was thrown open just to coincide with the World Expo that happened in that city. When I visited Nagoya in that year, I was appalled to find the new airport almost empty though, it was witnessing almost 4-5 times the normal traffic on account of the Expo. Compared to the old airport, the new one was huge and I was told then that this airport was now built forecasting for next 30 years of traffic growth so that they don’t have to meddle with this for a long time. Now, this is the approach required for infrastructure projects. However in India, we build projects based on today’s situation and by the time the project is completed, it is already bursting at its seams. The new Bengaluru Airport is an example of this. Inaugurated in 2008, it had to launch its expansion by 2011 within just three years! Most of our highway projects are planned like this. That’s why I say that the grudge towards the bullet train project in India based on today’s situation is ill informed. By now, we should have kicked off at least eight bullet train projects, not one.  Unlike in the past, financing for infrastructure projects is no longer a concern. There are global multi-lateral agencies backed by developed countries willing and waiting to fund viable infrastructure projects in a country like in India which offers potential and returns.  In the area of Infrastructure, we need drastic reforms in our planning method and execution. And that brings me to the next critical area.
  1. Land: Most of our infrastructure projects get stuck or go through inordinate delays due to the issue of land availability aka land acquisition. This is an indeed complex issue but we need to study best practices in other developing nations and come up with a new method that is fair to all and makes the process easy and less time consuming. The present Land Acquisition bill in its form needs urgent reform.

There are other areas too where reforms are the need of the hour and I will continue with those in Part – 2 of my blog next week.  But my focus remain on areas related to economic growth. To part conclude this piece, I would like to say that “Reforms” are a continuous process. And so continuous improvement of what we do is required. Going back to the Japanese way, they call it the “Kaizen” approach in management.  In India, we need Reforms on “Kaizen mode”!

To be continued.

 

30 Years of “1991”!

As I was wondering what to write on this week, I realised that in a few days, half of this year 2021 will be over.  Back in January, everyone thought or rather hoped that we were all done with the “New normal” and soon one will get back to the “Old Normal” in more ways than one. Till March, we were coasting on towards that. Then came the dreaded 2nd wave leaving us literally gasping for breath. And in no time we are back to hoping to see the end of this year.  Just the feeling we had the same time, last year.

And probably 30 years ago in the year 1991.  If 2021 has been a tough year for those who are running the country, I reckon 1991 would also have been so and for a variety of reasons.  When the history of post independent India is written, the year 1991 would feature prominently. Today, the year is associated with the unleashing of economic reforms and liberalisation in India and being crowned as the ‘Year that changed India”. But it has got so many other associations to it, which is what I thought I will write about, when we are in the midst of “30 Years of 1991”!

As 1991 dawned, I was in my 2nd year of MBA course in Bombay. Just as the year commenced, we were witness to the 1st televised war in the Gulf when US attacked Iraq to liberate Kuwait in “Operation Desert Storm”. In India, cable TV was still in its infancy. But we could watch some visuals of the war in “The World This Week” programme which made New Delhi Television (NDTV now) and Dr. Prannoy Roy household names in English speaking households in India.  I must add here that those days as young students we had tremendous appetite for news and current affairs which is seemingly missing in the current generation. Oh yes, that law of diminishing marginal utility! When News is a plenty all around, it finds lesser and lesser interest.

And it was during this war in 1991, that India probably removed its veil of Non Alignment, when the then government under Prime Minister Chandra Shekhar allowed re-fuelling of US Aircrafts in India. The decision had to be soon reversed under immense political pressure eventually in particular from the Rajiv Gandhi led Congress which was supporting the Chandra Shekhar government from outside. Though the war happened in the Gulf, it had its own implications for India as a country. Oil prices sky rocketed pushing the imports bill to hit the roof and plunging the economy into a deeper crisis. And we had a humanitarian crisis to deal with as the Gulf was home to millions of Indians.

In May, I was back in Madras after completion of the course and preparing to return to Bombay after a short break. On the 21st May, 1991, Rajiv Gandhi was assassinated in Sriperumpudur near Madras by a suicide bomber at an election rally. The death of Rajiv Gandhi that too in that most tragic manner shook the nation. Rajiv Gandhi was all set to return as the Prime Minister with the Congress getting a comfortable lead. But his untimely death put the country again in chaos and when the results came, Congress became the single largest party but short of majority on its own.

It is difficult to speculate as to what would have happened to our country had Rajiv not been killed and had he returned as the Prime Minister. It was widely believed that having learnt his lessons from his first stint, Rajiv was a wiser man and with his youth, energy and impatience would have changed the course of the country for the better.

With the loss of Rajiv, P.V.Narasimha Rao became the Prime Minister heading a Congress led coalition government. He made Dr. Manmohan Singh his finance minister and between them unleashed a slew of economic reforms that liberalised India. Those were eventful days and day after day, headline grabbing announcements followed.  Dramatic devaluation of the rupee, pledging of the country’s Gold reserves, announcement of the New Trade policy, announcement of the New Industrial policy that would end the licence-permit Raj,  the historic Budget presentation and so on. When all these were happening, one didn’t realise that these will forever change the destiny of India.

Unlike now, when economists and policy experts are in unison singing the praise of the 1991 reforms, back then the reforms were always projected as “Acts in Duress”.  Even among the ruling Congress, there was no consensus on the reforms forcing Dr. Singh to make that famous quote that he walked around with his resignation letter in his pocket.

Elsewhere in the same year, the dissolution of the Great Soviet Union was in rapid progress and by December the entire Soviet Union was formally dissolved that eventually ended the Cold War.  Google also tells me that the World Wide Web was launched to the public in 1991 and Microsoft.com went online, though I have no recollection of these!

Coming back to India, not to be limited to financial problems, in the same year 1991, on June 28th, Kashmiri militants kidnapped the then Executive Director of IOC, Mr. Doraiswamy. He was finally released after a couple of months in exchange of a few militants. I remember this vividly as day after day front page in the newspapers were occupied with this news.

For India, not just 1991 but the next two years were indeed full of challenges that wrecked the country pushing it from one crisis to another.  So, looking back, as a country we came out of all that relatively unscathed as we kept growing to what we are today, though the pace and extent of growth may not be our liking.

30 years hence, in 2021, as a country we have been inflicted hard by a global pandemic that has been hogging everyone’s attention. Our economy has been bruised badly. Lives have been lost and still counting.  Clearly not just India, but globally we have been set back by couple of years if not more.

As we come out of the 2nd wave, a recovery is imminent but not without the potential danger of further waves. We can only hope that this time also we will follow the 1991 cycle.  If you remember, the economy fared poorly in the 1st year of the reform (1991-92) but from 1993-94 after two years, the economy was on a roll.

Going back to 1991, personally for me that was the year when I started my professional career and so along with the country, the year has a personal significance and it will be always etched in my memory.  Where were you in 1991 and what are your memories of that year? Do share in the comments section.

2021 State Elections – My Flash Take aways!

This round of elections in five states is finally over today and India will get a break from being in election mode for a year.  It’s been too long an election process that, everything else took a back seat including our war on Covid.  The counting is still on as I write this but the broad trends are clear. Since there are pundits galore in theorising on the results, I will skip that for the moment. Instead, in this post, I would like to list a few take aways on the whole elections, not just the results of this round of elections.

Here we go:

  • Anti-Incumbency as the pièce de résistance among theories for explaining a result is passé: In the past, analysts would always just dismiss any defeat of an incumbent government by ascribing to “Anti-Incumbency” as if it was extremely legitimate and acceptable. A few decades ago, it is true that incumbent governments were thrown out 7 out of 10 times. But, that’s no more the case. As we have seen in this round, 3 out of 5 governments have been re-elected. In Bengal, TMC has won a third consecutive term. It all boils down to quality of governance and what people feel about the next best option.  Anti-Incumbency is no more an excuse. And Pro-Incumbency is a virtue.
  • Hawa, Leher, Mahoul exist only in the minds of commentators: This is increasingly becoming the case in social media driven journalism. As we saw in UP in 2017, Karnataka in 2018 and now Bengal this time, mainstream media and social media can create their own “Waves” and “Hawa” that is far away from situation on the ground. So, making predictions and conclusions based on social media trends, Youtubers’ narratives and mainstream media commentary is fraught with a lot of risks.
  • Opinion Polls and Exit Polls are for entertainment only: This we have seen time and again now and doesn’t need much explanation. For almost all agencies, getting the polls right has a huge amount of luck riding on it. If they get it right, it’s their day. That’s all. In a diversified country like ours, statistical samples however scientific they are, have proven to be inconclusive. So, opinion polls and exit polls are a lottery. Even in this round, no agency predicted the scale of Mamata win and almost all predicted a tough fight.
  • Voters vote for Lok Sabha and State polls on their own merits: This is getting very conclusive by every election. In one of my earlier articles for Newslaundry (Read here), I had explained this with quite a few examples. In this round as well, we can see this aspect quite established in Bengal and Kerala.
  • Time for building consensus around One Nation – One Poll: This is linked to my last point as well. Now that we can see clearly that voters are indeed intelligent and vote as per merit in Lok Sabha and state elections, many of the regional parties and even the Congress which have their apprehensions that it will be only “Advantage BJP” if India opts for simultaneous elections, should shed the same and have a re-think for the sake of larger national interest. It is obvious that elections every year or twice a year are a huge distraction for governance. Also it is a drag on the resources for any government. Both the government and the parties can save a lot of money and time if we have simultaneous elections. Of course, it is not as easy as it sounds, but there should be a national debate on the same and a consensus built around this so that at least in the next 10 years we can move in this direction. My personal opinion is, if not simultaneous polls, at least we should move towards “One Nation, Two polls” by having Lok Sabha Polls once and all State polls together after 2.5 years.
  • Limit the number of phases to 3 or 4 for any state: I don’t think there is any country in the world that conducts its elections over two months in eight long phases. The phase wise polling was conceived by T.N.Seshan when he was the Chief Election Commission mainly to counter violence and election related mal practices so that the EC can muster central forces and conduct free and fair polls. But those were the days of ballot papers where the chances of rigging were higher. Also in today’s times of EVMs and of course prevalence of Smart technology, ways and means need to be found for conducting free and fair elections in 3 or 4 phases in any state and eventually one phase.
  • Limit for expenses in an election is a joke: It is high time, the limits are re-visited. Also new limits need be prescribed for self, party and total expenses. It wll be good to take a look at best practices in other democratic countries on this and come up with a model for future.
  • Huge market opens up for political strategists and IPAC type organisations: This is not a new take away based on today’s results. But today’s results cement this proposition beyond doubt. It is no longer enough for parties to depend on their loyal karyakartas to carry our ground work. Parties need strategists and organisations to hold a mirror to them and carry out smart work in the field using data, analytics, technology and tools. It is not that an external strategist or marketing can save a bad product. But even a good product in today’s competitive times need adequate marketing cover. And therefore, the market for political strategists and political consulting companies in India has expanded. So it is as a career for youngsters in election management and related marketing. And Marketing works.
  • Last but not the least, EVMs are not instruments in the hands of those in power: I hope the debate around EVMs is put to rest conclusively now that opposition has also won spectacularly.

As you can see half of the points are related to the way elections are being conducted in India. After a round of reforms which Seshan initiated during his tenure, we have not seen much of electoral reforms. It is now time for the country to build consensus around electoral reforms and introduce them to keep our status as a vibrant democracy.

Image Courtesy: Firstpost.

Covid – Contending with the Waves of Uncertainty!

If at all there has been one thing which is consistent with Covid, it is its remarkable inconsistency.  From the time Covid entered our collective lexicon in February last year, every theory or conclusion related to its behaviour has been found to be inconsistent or invalid very soon after.  Like India was never affected by Bird flu or SARS virus, so we will not be affected by Corona virus (See the situation today). India is a hot country and in peak summers, Virus cannot survive (It did hit us through the last summer). India will be spared as we have better immunity for many diseases (Of course India was not spared).  During monsoons in places like Mumbai, Covid is going to create a havoc (There was no specific spike during monsoons).  Masks are required only if you have symptoms but hand washing and sanitising are most important to prevent the spread (Today, it seems it is the other way – Masks are most important and hand washing is not that important).  Once vaccines are found, that will be the end game for Covid (Vaccines were indeed found but the end game is still not in sight).  Once you take the two doses, you are safe (Now the latest theory is, we may have to take vaccines every year!). This was just to list a few theories on Covid which have got negated along the way.

We must keep this in perspective when we make our judgement on the way the municipal administration or State governments or the Central government or the Prime Minister have handled what is now called as the 2nd wave in India. Let us all be honest. Since the dawn of this New Year, all of us have in some way or other started moving towards leading a normal, pre-Covid life. We started – travelling out of our cities, taking vacation breaks, working from Office, wining and dining out, going to places of worship, having social get togethers, planning for house functions and getting domestic helps back in our houses, to mention a few normal/pre-Covid activities.

All of us were keen to put Covid behind us and lead a normal life. We all understand that it is important for economy to get back to normal which can only happen if consumption in all spheres get back to normal. We were all happy when GST figures reached pre-Covid levels and were delighted when it started exceeding pre-Covid numbers. All this when we also got the news that vaccines were available and we could see some light at the end of the Covid tunnel. We all celebrated and rejoiced about how India came out unscathed on Covid.

What we did at individual levels, companies did at their level as well with respect to businesses. And similarly the administration and Government did at their levels. In this period, we must not forget that farmer protests which in normal Covid times could be super spreader events were going on in most parts of North India. Yet, we didn’t see any spike in Punjab or Delhi or other states where farmers in large numbers were protesting taking limited or no Covid precautions. A full test match was held in Chennai with spectators watching it and there was no spike after that. Looking at these I guess, the Election Commission went ahead with the conduct of the polls in the five states in March and April. Ditto for the Uttarakhand government for the Khumb festival.  We all lowered our guard. Not just the government.

Today, however in India, we have been savaged by a Covid Tsunami. So, what we see all around are depressing news about deaths, sufferings and other collateral issues, all related to Covid. We have been hit by a lethal second wave which none of us saw it coming. This is where the first failure of the epidemiologists, experts and relevant authorities in the administration come into picture. All the while in the 1st Quarter of this year, I only saw experts explaining how India has flattened the curve and how we were moving towards herd immunity.  So, when other countries like the UK, USA and a few European countries were hit by a second wave, why was there no alert from the experts of a potential second wave in India?

In the mid of March, we could see suddenly numbers rising in states like Maharashtra and Kerala without any specific trigger like a super spreader event. When at that time, a few were enquiring with me on what’s happening in Mumbai, I mentioned that it is only a question of time the numbers start going up in other cities/states. And that’s what happened. So, when a person like me without looking at any regression models or analysis could predict that we are up to an imminent spike in numbers, how come the state governments and Central government did not realise that we are walking into a sudden burst if precautions are not put in place immediately.

Even in the 3rd week of March, if the Election Commission had announced strict regulations on campaigning or Khumb was made symbolic as it was done eventually, things would have been different. Or if all states including Maharashtra started what it is doing today in terms of restricting movements, we could have avoided the crisis. This is the second issue.

As some wise man said, “Before, you are wise. After, you are wise. In between, you are otherwise!” In hindsight everyone is God. Anyway, today lock downs have been put in place and I am sure, the numbers will start coming down in the next 4 weeks. Already the numbers in Mumbai are showing a declining trend day by day. But, once we reach a trough, again it will be time for “Unlock 2.0”. When that happens, we may once again at some point of time witness a third wave, unless by that time we have vaccinated a reasonable mass of people.

It is clear therefore that the key to prevent further waves, is vaccination. Or so we hope at this point in time, unless even this theory gets demolished. It is now apparent that the vaccination roll out has been patchy.  Just six weeks into opening up of the vaccination program to public, we have a shortage of both the vaccines.  And I am not joining the chorus of why India exported vaccines when we should have used it for Indians first. The external affairs minister has articulated recently that if we do not support other countries, we cannot expect support from other countries for supply of raw materials. This could be the official line. But the main reason why the government also decided on exports initially was the shelf life, in my opinion. The government cannot give this reason out for obvious reasons.

The shelf life of Covishield is six months from the date of production. As per Serum institute, by the end of December, it had already produced about 50 million doses of the vaccine. I must add here that it had started producing and piling up inventory even before the official approvals. Since the vaccination roll out in India was planned to be in phases starting first with the health and frontline workers for obvious reasons, the stock would not have been consumed before the expiry. Hence, exports meant to serve triple purposes as per me. Consumption before expiry, generation of good will with Vax diplomacy and fulfilment of commercial and licence related contracts for Serum.

A committee under Niti Aayog has been entrusted with the roll out of the vaccination program and it appears that the whole plan was based on “let’s cross the bridge when we get there”. How else can we explain the fact that the Central government had not secured supplies for the vaccine from the two approved sources at least to cover 60% of the adult population right at the beginning? Why is it that the companies were not committed working capital support right at the contract signing stage? If there was a clear plan of sharing of responsibility between Centre and states, it was never made transparent. And today we see that the whole vaccination has been opened up but without ensuring supply. From vaccine hesitancy, it is now a rush for vaccine. It is going to take at least till June for stabilisation of supplies. To me, more than not anticipating the second wave or being lax on taking actions after witnessing the second wave, the ill preparedness of the government on the vaccination roll out is the main issue.

While it is now clear that we as a country have landed our foot into a second wave land mine, the last thing we should see is politicking over this and the never ending blame game between the Centre and states. It is high time that the Centre and states work together in diffusing the crisis rather than pointing fingers on who is wrong at this stage. This is a collective failure of all of us, the society, the administration, the domain experts, the State and the Central government.  As common public we must now learn to be cautious throughout even if we have taken the vaccine, control our instincts to get back to normal lives soon and learn to deal with what could be waves of uncertainty in the coming months.

Having said that, in terms of accountability, the buck of course stops at the top, which is the Prime Minister. He must now quickly move towards establishing a separate ministry for Covid and have a competent minister and set of bureaucrats to man the same.  This ministry should be tasked with all activities related to Covid as an umbrella entity. Being pro-active should be the core mantra for this entity.  It should be acting on a WAAR footing – Watch – Anticipate – Act – Repeat.

As we have seen, unless we get out of Covid quickly, lives and livelihoods will be under jeopardy – caught in the ensuing waves of uncertainty.

Pic Courtesy: India Today

Rajinikanth – Destiny’s Own Child?

This piece was written for the News site – The News Minute and was carried on 2nd April, 2021. It can be read here:

https://www.thenewsminute.com/article/why-rajinikanths-dadasaheb-phalke-award-richly-deserved-146395

It was few days into June in the year 2007 in Mumbai. Those were heady days for the Indian economy with frenetic activity in retail, real estate and in fact almost all spheres in India. Malls and multiplexes within them were the cool things those days. In the midst of that, I saw some huge excitement around the release of a Tamil film in Mumbai, probably for the first time.  FM Radio stations were talking non-stop of that film, adding to the build-up. The film was Sivaji – The Boss, directed by Shankar and the reason for the excitement was Rajinikanth, who by then had transcended the Southern borders and was a phenomenon across the country in what I would say the phase-4 of his still running career.

The film got a huge theatrical release even in Mumbai.  When I went to watch the film over the weekend at the nearby multiplex, there were kids, teenagers, young couples, middle aged folks and senior citizens of all hue, who had thronged to watch the film. The buzz was palpable and unprecedented. I have not seen any other Indian actor who commands such a following across age groups, across class divide, across genders, in short across anything, till today.

I don’t think anyone would have foretold such a rise for Rajinikanth way back in 1975 when he literally “entered” into the world of films with Apoorva Raagangal pushing a huge gate in his entry scene. That scene in a sense remains metaphorical of his career in films. He had to push hard the prevailing stereotypes for an actor to establish himself in phase -1 of his career where he was doing support roles, many of which alongside Kamal Hassan, who was already an established star. Much credit is due to director K.Balachandar who saw something in him which others didn’t and mentored him as he evolved into a bankable hero. In this period, what made him stand him apart was not so much his acting prowess but, his screen presence and mannerisms which became to be branded as “Rajini style” in years to come.

The same “Rajini style” packaged with some raw energy on screen carried him through to become a sole hero in films in what will be the phase-2 in his career. Even as he started delivering hits as a hero, there were still questions around his acting skills. Comparisons naturally ensued. If it was MGR Vs. Shivaji in the previous era, it was Kamal Vs Rajini in that era. In those pre-social media times, there were endless arguments on who was better with Kamal camp emphasising on his versatile acting talent while the Rajini camp was pitching in for his wider appeal among masses. But given an opportunity by way of meaty roles, Rajini did prove himself as a consummate actor in films like Mullum Malarum,  Aarilirunthu Arubathu varai, Engeyo Ketta Kural, Thillu mullu to mention a few. Yet, Kamal, the “Class actor” Vs Rajini, the “Mass hero” debate went on unabated. After every film release of either of these stars, I remember our group of film buffs in our engineering college re-opening the debate and ending without a conclusion. There were no hashtags way back then to monitor the trends and announce victories.

It’s in the mid 90’s post Baasha, however, that something changed. Rajini’s appeal then started transcending all boundaries. Young and the old, privileged and not so privileged, urban and the rural, educated and not educated, men and women, Software geeks and accounting professionals – he endeared himself to one and all. Soon, Kamal Vs Rajini debates ceased to exist.  Rajini films were simply too entertaining and he himself became that mass entertainer. While most of Rajini’s films then followed a standard template of “riches to rags to riches” hero, in real life though, from one phase to another his career graph went only one way – Up.

From then on, what happened to him and his career are stuff that dreams are made of. Looking back, here was a guy who was defying all established norms and conventions for a Tamil film hero. Rajinikanth was not conventionally “good looking”. He was not fair skinned or even brown skinned – again a much needed specification for heroes at that time. His grip on the Tamil language and dialogue delivery were not up to the mark. He had not come from the “stage” background which was very common for most actors those days. He did not possess the best dancing skills either. And finally in terms of histrionic skills, there were better heroes around.  In short, he did not fit into the established grammar of a hero. Yet, he became the reigning Superstar of Tamil cinema. In all of these phases, he had the backing of talented screen writers and directors who knew how to package Rajinikanth on the big screen.

All the so called inadequacies didn’t prevent him from making a lasting impact on the audience. For sure, he picked up on his acting skills as time passed by.  He made up for the lack of everything else with his sheer screen presence. He turned his dialogue delivery style into his own with his baritone voice. On screen, he was always a man of high energy. And there was an element of style in his movements which people simply loved. In his own admission, more than his strengths, he was aware of his short comings and decided to work within them.  And more importantly like MGR, Rajini had the pulse of his fans. He was very choosy about the subjects he did and the film makers he worked with. While he was hands off in making of his films, in this phase, Rajini always had the final say on what made it to the final cut.

This phase -3 of Rajinikanth’s career is interesting in more ways than one. Before, commercial films were labelled “Masala films” a category in which Rajini ruled. With his films like Baasha, Muthu and Padayappa, Rajini now created the “Mass” film category and owned it for a long time. Mass films came with “Mass scenes” which became iconic.  Normal lines when mouthed by Rajini repeatedly in a film became punch dialogues.  Today, almost all stars across languages have made mass scenes and punch dialogues necessities in their films.

It is this mass adulation of whatever Rajini did, that pitch forked him to become the phenomenon he is today. Beyond the borders of Tamil Nadu or even South India, his films are eagerly awaited even in Non-Tamil speaking states of India. Not to forget the surprising admiration he earned in Japan since Muthu. It can be safely said that Rajinikanth is the biggest entertainer Tamil cinema has ever seen till today and he continues to be so.

At 70, Rajinikanth is at the December of his career. However he is not done yet. The opening his film like Kabali got, is the envy of many young stars. Even today, the expectations and the frenzy his new film release generates across all age groups are unmatched. The last few of his films might not have matched his all-time hits of the past due to poor story lines and screen play but, Rajini himself gave a good account for himself with his performances.

It’s only apt that the Government of India chose to honour Rajinikanth with the Dadasaheb Phalke Award now as he completes 45 years of stardom in cinema, that too without a break.   Notwithstanding the timing of the award which has set some tongues wagging, Rajinikanth the phenomenon truly deserved the Dadasaheb Phalke award or rather as the memes would go – Dadasaheb Phalke award truly deserved the Rajinikanth! After all, he is indeed Destiny’s own child, isn’t it?

Tamil Nadu Elections – A Battle of Known Unknowns!

In this week’s blog post, I continue my focus on Tamil Nadu state elections which is turning out to be a fascinating battle as the polling date comes closer. West Bengal elections and the results therein may be interesting for the commentariat for the sheer noise value around it because of the time and efforts being invested by BJP and Modi-Shah combine. But, I do feel that West Bengal is a simple and straight contest between TMC and BJP and the unknown in terms of result is only the margin of victory for the TMC and the extent of rise of the BJP in West Bengal.  In Tamil Nadu though, as it stands now, even with just few weeks for the poll date, the water is still muddy.

The reason for the same is there are many known unknowns in these elections that could impact the results in either way. What are those?

  1. Anti-Incumbency: Is there an Anti-Incumbency? The answer it seems depends on to whom the question is posed.  For a DMK supporter, there is an obvious anti-incumbency wave against the present EPS-OPS government. However for an ADMK supporter, there isn’t. There is a version which says even if it is, it is not strong enough to swing votes away from the ADMK. And finally there is one which says that few months ago there was but now there isn’t.
  1. Consolidation of Hindu vote: Will there be a consolidation of the Hindu vote in favour of the ADMK/BJP front? This is the first election in TN where BJP is making a serious attempt to make its presence felt. And it has been at it systematically in the last few months. In social media, there are orchestrated campaigns by BJP to make the Hindu vote count by appealing to the Hindu voters to reject the DMK based on its leaders’ past public utterances against Hindus and Hindu Gods. Yet, it is unclear if the campaign will lead to a consolidation of the Hindu vote and help the ADMK front.
  1. Kamal Haasan effect: Is Kamal Haasan’s party the Makkal Needhi Maiam going to split the ADMK votes or the DMK votes? It is clear that Kamal Haasan and his party are creating a buzz in the air this time. Targeted at those who are fed up with the Kazhagams in general, it is aiming to be an AAP in Tamil Nadu by being a third alternative. But it is obvious that it has not penetrated enough to form a government on its own and will lend support to one of the fronts in a post poll scenario. While the earnestness and honest image of Kamal are not questionable his personal ideology is. As an atheist and a non-believer, he is seen closer to the DMK ideology. At the same time, by calling himself as MGR’s ‘vaarisu’ he tries to appeal to the MGR’s supporters and legacy in the ADMK. It is also said that the youth are more drawn to Kamal. So, which section is he going to impress? Is he going to cut into DMK’s share or ADMK’s share or a bit of both? It is unclear.
  1. Freebies: In the battle of freebies and cash for votes, which side is showing more “catching” power? Tamil Nadu which usually has a paucity of rains, in election season shows a huge propensity for downpours. This season also, it is raining freebies from all sides. Whether the underprivileged and deprived class cast their vote depending upon the freebies being provided is a question which is unanswered. And there is also the phenomenon of distribution of cash to turn up to vote. Can the distributed cash provided an “aadhaar” proof of vote cast is a big question.
  1. Battle of narratives: On the one side from the DMK front, the narrative built is of a threat perception. Of Tamil Nadu succumbing to the Centre or BJP if the ADMK front is voted to power. On the other side from the ADMK front, it is the threat of handing over TN to one family which has always benefitted whenever it ruled. Between these two narratives – the first pegged around identity politics and weak leadership and the second around nepotism and corruption, which has more potential to gain ground?
  1. Leadership question: The last is the leadership question. This is the full first state election in Tamil Nadu without strong and charismatic leaders in both sides. Between Stalin and Palaniswami, is there a voter preference based on their leadership skills? Or is leadership an issue at all in this election?

All these known unknowns make the upcoming Tamil Nadu elections a tough one to call and a fascinating one for any political observer.  But one thing is clear. The stakes for not losing are quite high for all the main contenders except one. And you know which that one is. And that is a known known.

Graphic courtesy:  The Hindu Business line

Tamil Nadu Elections – in “Poll” position!

The country is once again in election mode with the announcement of elections for a bunch of states. Among all the five states that go to polls this season that includes Assam, Kerala, Puducherry, Tamil Nadu and West Bengal, obviously it is West Bengal that is grabbing national attention and creating more surround sound because of the tug of war between Mamata Banerjee’ TMC and BJP’s Ex-TMC. Just few days into the campaign, we are already seeing how this script is panning out.  But to me, the most interesting and fascinating election to watch in this lot is Tamil Nadu, for the far reaching impact the result may leave on the players who are going to lose.

It’s been oft repeated by commentators that this election is the first full-fledged state elections that is happening without the leading lights of the respective kazhagams, namely Jayalalithaa and Karunanidhi. While this is true, beyond this there are other aspects which make this election very crucial and a “must win” for almost all the key players involved. A loss here may bring up “The End” card for the top contenders in this state where politics and cinema have been clearly intertwined.

For the ruling ADMK, a loss will lead the party into an existential crisis. The present sort of elastic dual leadership structure of EPS-OPS combine is certain to give way in case of an ADMK defeat.  As of now, the only glue that is holding the party together is “power”. Sans that, it is a question of time before the carefully built edifice starts breaking. It will also bring the debate back on Jayalalithaa’s legacy and so on but without much headway. In the absence of any other promising leader in the horizon, it is imminent that the “two leaves” will eventually wilt!

For the DMK, it is another existential crisis. Not probably for the party. But for the Karunanidhi family leadership. The party has been now in the opposition for ten years. In 2016, it was in a striking distance to power but lost out to Jayalalithaa in the final count. In the 2019 Lok Sabha polls, the party managed to sweep the state bucking the national trend but it couldn’t leverage on this win in any way as it was in the wrong coalition. So, a win in this election is crucial for the party to re-energise the cadre and its leaders for whom getting back to power is important for many reasons. Also a win is crucial for its leader M.K.Stalin to cement his position within the party as its undisputed leader. Any loss will trigger another round of succession battles with many other family members staking a claim on the party’s leadership. Though Stalin has been leading from the front, the general impression is that he cannot come even close to his father Karunanidhi in terms of political acumen. A loss will further accentuate this impression.  A loss to DMK will also trigger a wave of cross overs to ADMK or for that matter even BJP before the next Lok Sabha polls as that could secure a career for many upcoming leaders who lost out in this election. The family tree may end up collapsing in case of a DMK loss!

The third regional contender awaiting to make an impact in this election is Kamal Haasan’s Makkal Needhi Maiam (MNM). I don’t think anybody is expecting MNM to win on its own in this elections. But in his own admission, Kamal is looking at reaching double digits both in terms of vote share and seats. If it doesn’t happen and MNM manages only a vote share of less than 5% as before and few seats here and there, it could be curtains down on Kamal’s future plans for the state in politics. If a party, even a small one like MNM, cannot be of any material influence in a coalition, then it becomes very difficult to sustain and survive. Kamal could very well junk his political journey and resume his cinema career where is future is more secure. From torch light it will be back to arc lights at the sets!

Also, it is my hypothesis that if Kamal’s MNM fails to make any significant impact in this election, it will be curtains down for “Stars” trying a serious hand in politics in Tamil Nadu in future.

Now coming to the key national players – first the Congress. Any loss to the DMK front would mean further erosion of Congress’ political capital whatever is left of that is, in the state.  Not just that, it will further amplify the noise within the party around the Gandhi family leadership in general and Rahul Gandhi in particular. Within the state though, it may just continue in its present hibernation mode and more wrangling of the “Hand” in future.

For BJP, in this elections the stakes are still low, I believe. Whatever it is doing today in terms of focusing on the state is more with keeping 2024 Lok Sabha elections in sight. The party would like to bag up to ten seats in 2024 from Tamil Nadu, which will help in a big way to fill gaps from other states where it did well in 2019. . A loss to the ADMK front would force BJP to start accelerating its growth program in Tamil Nadu significantly on its own. This would obviously mean developing a credible state leadership. I believe for BJP, this election is a trial balloon to test ADMK’s strength in the post Jayalalithaa era, check out the acumen of its freshly minted local leadership and finally to chart its direction in Tamil Nadu. A win for the alliance though will help the party secure 10+ MPS in the 2024 elections and also increase its foot print in the state where it has been slow to grow. For BJP, this election is still like water on the Lotus leaf!

With so much in stake for all the key contenders, the TN election promises to be a very fascinating contest– one that eclipses even the West Bengal battle. And for sure, it is going to be a close fight with winning margins being thin in many seats and the final tally being very close. Even in the past, pollsters had a tough time calling TN elections. This time around, the task is more arduous.

Among all states in India, Tamil Nadu has had the privilege of being in the “pole” position with respect to many social and economic indicators. Now in this round of state elections, it is also in “poll’ position in terms of impact of the results. May 2nd though, could be curtains down for a few prime contenders!

Pic Courtesy: The News Minute

Budget -21, Reform push and Time to Market!

There have been budgets in the past which have sort of quickly moved away from the headlines. And there have been budgets which remained in the headlines but for all wrong reasons. This year’s budget, incidentally the 8th one from the Modi Sarkar presented by Nirmala Sitharaman has managed to hog the limelight for all the “right” reasons. The pun here is well intended.

Talking of the reaction to this government’s previous budgets, it’s always been muted and for obvious reasons. Ever since Narendra Modi became the Prime Minister way back in 2014 that too with a clear majority, the expectation has been that he will bite the bullet on many of the much needed, long pending reforms. Honestly, the previous budgets of the Modi Sarkar were mostly incremental budgets with some increased allocations here, some improved programs there and so on. “What’s the Big Idea”? ‘Where are the Big bang reforms?” were some questions hurled by the commentariat post every budget. It has been my observation that under Modi, the budgets have just become an annual statement of allocations and outlays while Big Ideas whether it was the Swachh Bharat Abhiyan or the Ujjwala Yojana et al were launched outside of the budget. But in this year’s budget, there has been a welcome change to announcing some “Big Ideas”.

The positive vibes around this year’s budget can be attributed to the announcement of few big ideas which have been reformist in nature, while keeping the budget free of any “bad news”. One is the announcement of the setting up of an Asset Reconstruction Company (ARC) which is a euphemism for a “Bad Bank”. Second, is the statement of intent on “privatisation” of two Public Sector Undertaking Banks and one General Insurance company. So far, governments have been taking umbrage under the term – Disinvestment without putting out the word “Privatisation” so openly.

Not just the budget, but the announcement has been followed up by speeches in the parliament and other forums by those who matter in the government, on the seriousness of the intent. In fact, as per news reports, Niti Aayog has recommended to cut the number of state owned Public Sector Undertakings (PSUs) to just 24 from over 300 that exist today. If this programme takes off, it will make Modi a reformist of “Thatcherian” proportions. If you recall, Margaret Thatcher way back in 1979, on assuming power systematically embarked on a reform program to revive the British economy. She deregulated markets, cut tax rates, removed exchange controls and consigned militant trade unions to oblivion. But, it is the privatisation of State owned corporations like British Steel, British Petroleum, British Telecom and British Airways that stays as her enduring legacy till today. So, what Thatcher achieved in the early 80’s in the United Kingdom is what Modi is embarking to do in India after forty years. That brings to the next point of this post which is the important piece of “Time to Market”.

In business, Time to Market is nothing but the time taken by a company to launch a product or a service from the date of firming up on an idea.  For companies, this is an important issue in new product introductions.  In businesses that are highly competitive or for that matter any business, you cannot afford to have a long Time to Market.  That would run the risk of your competitor getting ahead or consumer preferences changing that makes the idea less relevant or even redundant.  I believe that even in the matter of reforms for a government, a short Time to Market is critical. And as a country, our track record on that front is unenviable so far.

In the context of reform push, I believe there are three stages namely – Idea, Intent and Implementation. First, the idea is just floated in a budget speech or on important occasion/forum. Then the Intent is demonstrated when the idea is given a proper shape, laws are formulated if there is a need and resources are allocated.  Implementation is when finally the reform becomes a reality and is rolled out. So, in India if you see the history of Time to Market on important reforms, it doesn’t pose a pretty picture.

For example, take the case of a reform like Aadhaar. The idea and need for a unique citizens identity card was floated way back in 2001 by an Empanelled Group Of Ministers (EGOM) chaired by the then Home Minister L.K. Advani during the Vajpayee led NDA regime. It was only in 2009, when the intent was demonstrated by the UPA government led by Manmohan Singh with the announcement in the budget and then following it up with the set up if UIDAI (Unique Identification Authority of India) under the leadership of Nandan Nilekani. And finally, the first Aadhaar card was issued to a citizen in September 2010. So, from the idea to the launch it took a good 9 years. In the case of GST, from the time of the floating of the idea way back in 2000 to showing the intent in the budget in year 2005 to finally launching GST in India in 2017, it took seventeen years.

In the case of the policy of allowing 100% Foreign Direct Investment in retail however, from the stage of the Idea to Intent to Implementation, the landscape of retail has changed. India doesn’t still allow 100% FDI in multi brand retail. This was seen as an important reform in attracting FDI and employment generation a decade ago. But now with the advent of E-Commerce where 100% FDI is allowed in the marketplace model, 100% FDI in Multi-brand retail is no longer seen as a constraint. In other developing countries like Thailand foreign direct investment in retail gave a huge boost to the economy. But India missed that boom because of the dogma around FDI in multi brand retail which stretched the Time to Market on that reform.

Ergo my point is, if the reforms which have been announced in this budget have to make an impact, short Time to Market is critical. Having floated the Idea of a Bad Bank, it is important to follow up quickly with the formation of the ARC and eventually roll it out within this year itself so that the PSU banks can be freed of the stressed loans and they can get back to lending with more ease. Similarly, in the case of privatisation of PSU Banks, the idea has been floating for a while now. But this is the first time, the government has expressed its formal intent via the budget speech. The road to privatisation is not going to be easy at all with trade unions already gearing to pick up the gauntlet with the government. I though believe just as the mass VRS issue in PSUs like MTNL and BSNL etc. went through in spite of stiff resistance from trade unions, this time, the government may be able to pull it off with a few hiccups. Or so I hope.  Also, while the stock markets are on a high this year, the government can manage to get better valuations.

In the run up to the 2014 Lok Sabha elections, Modi repeatedly talked of “Less Government, More Governance” and “Government has no business to be in business” – thoughts which signalled a clear Rightward tilt on the economic philosophy front. However, till this budget speech, we didn’t see much of action towards withdrawing the government from running many businesses. This budget from that sense is critical in signalling the government’s intent towards moving away from running inconsequential businesses, which is a good sign. And, if the intent is translated into action in a reasonably short Time to Market, then it will be Narendra Modi’s lasting legacy in changing the economic course of this country.

Post Script: If Aandolanjivis are those who make a living out of protests, what about taxing them? And what would be the Time to Market for this idea? 😁

Nothing Private about this!

Ever since, WhatsApp informed all its users of its new update on the privacy terms with an option to accept or “else”, debates and discussions have been happening on whether to move out of WhatsApp or just agree and continue. Irony lost its privacy when all these discussions have been happening predominantly over WhatsApp itself!

In the meantime, rival platforms like Telegram and Signal have seen a huge traction in terms of new users. WhatsApp has been trying to put out the fire through full page ads in mainline newspapers insisting that the new changes are not of any material consequence. And finally, it took a call to put off the effective date for the new policy till at least May which was earlier the 8th of Feb. Hopefully the chatter on this issue will reduce in the coming days. For the rival platforms and media companies though, in these tough times, this has become a bountiful New Year present from the Facebook Corporation.

I personally have been trying to wrap my head around what’s the brouhaha about and what should I do. Privacy is indeed a major issue. But the moot question remains as to where do we draw the line on it. With the advent of technology first in the form of computers, internet, Networks, the Mobile phone and now Apps for anything and everything under the Sun, it is clear that life has become more convenient. At the same time, it is also clear that all these invade a lot into our privacy.

The last time when the issue of privacy entered the drawing room discussions in India was when the Government of India was pushing Aadhaar linking to bank accounts, mobile phones, IT returns and so on. The move was challenged in Supreme Court and post the verdict which sent mixed signals, we don’t see so much push on the Aadhaar front these days in terms of linking with anything and everything. Aadhaar has now been relegated to just being one of the requirements for identity proof.  This is unfortunate because, when Aadhaar was envisioned by Nandan Nilekani and his team, the scope was to use Aadhaar for delivery of many of the Government services. There was also a talk of a virtual Aadhaar Bank. All those big ideas lost their way now due to the battle which a few launched on the privacy front against Aadhaar.

I was then of the opinion that all those who use mobile phones, who are active on social media, who use tools like Google search and maps and so on should never complain about privacy. As part of their functioning, they anyway track the users. So the question of privacy doesn’t arise. The only way to protect one’s privacy is not to use them at all. Even the congressional questioning which took place in the US against Facebook, Google etc.… did not lead anywhere because, at the end of the day, as users we choose to use the tools and accept the conditions that define the usage of these tools. We all have the choice not to use them at the expense of convenience in life.

My position around the new changes in WhatsApp and the next steps, veers around the same points.  If you are a user of Google search, Maps, Mail and the works, anyway a lot of your activity is tracked and shared across platforms. And today, I came to know that our off Facebook activity say in other Apps are being shared with Facebook by the Apps for which we have signed up and accepted the terms of usage! It’s ironical that many who complain about the new update in WhatsApp continue to post “Check in” and “Check Out” status on Facebook!

I also realised that more than the issue of actual privacy, the inhibition towards WhatsApp’s new policy has come from “Big Corporate phobia”. I remember reading in Philip Kotler’s Bible on Marketing that large corporates and market leaders are always prone to becoming victims of negative public reactions frequently and so the Marketing team in such large companies should be equipped to pro-actively sense this and strategize accordingly. Had this privacy update notice come from a smaller player, the response would have been muted. But because it was from WhatsApp which is this humungous communication monster today that too owned by another monster called Facebook, the noise became louder.  And looks like the marketing team there hasn’t read Kotler!

I feel a bit lazy and hassled to ditch WhatsApp now and start using another messaging App say like Signal knowing very well that Signal could be acquired by Google or Facebook tomorrow. And what stops the rival Apps from changing their privacy policy tomorrow? And also even after moving to another App for some group activities, if I have to continue with WhatsApp for other groups, it is a pain to dabble in multiple platforms, not to mention of the erosion in the available memory space on the poor mobile phone.

WhatsApp has turned out to be one of the most convenient mode of instant communication today and has become ubiquitous. So ubiquitous that WhatsApp has become a verb. You don’t send a picture over WhatsApp but you just WhatsApp it! It is indeed convenient and it has been free all along. It has broken all kinds of class barriers. It will take a while to completely sign out of this presently. Not that it is not probable. (Remember Orkut?)

Back in 2014, when Facebook acquired WhatsApp for a staggering US$19bn, the first question that came up in our minds was, what all will Facebook do to monetise WhatsApp? What’s been happening of late with WhatsApp is part of the answer to that question. The launch of WhatsApp business accounts, WhatsApp Pay and probably a virtual WhatsApp Bank are all steps to add revenue streams to the company.

It appears that there are two options now. One, if I am so concerned about my privacy, I have to ditch my smart phone, become smart myself, stay away from social media and stop using all the convenient Apps. It’s like going back in time to another era altogether.

The second option is not to get so concerned about the privacy threats and continue to use technology but be conscious of what we do and what we share on Apps and platforms and hope and pray that all’s well that ends well. For now, I have chosen the 2nd option. What about you?

If you like this post, do share among your WhatsApp groups or any other platform you have taken to of late. Thank you.

Pic Courtesy: NBC News

Thank God It’s a New Year!

In all these years so far in my life, never have I seen such wholesome relief in people on the passing by of a year. Year 2020 has been one of a kind. Not that there have been bad years before. But in the past, a year would have been labelled annus horribilis probably due to a natural calamity, a sad event/s, an economic bad spell and so on. Also, it so happens that a year turns out to be worse for some regions/countries in the world and better for others. But 2020 turned out to be a disaster for almost most part of the year due to the Corona Virus which did not spare any part of the world. The same time last year, as people ushered in another New Year with the usual sense of happiness and glee, none saw it coming. By April, the world was scrambling to lock itself down to save itself from the raging pandemic. Even as I write this, the pandemic is not behind us fully.

Any New Year usually brings in a ray of hope. A hope for better things to come.  2021 I guess, has been mankind’s most anticipated milestone. And people have not just been looking forward to a ray of hope but a landscape of hope. One just wanted to leave behind the horrors of living through a pandemic year and lead a normal life.  By the end of 2020 if you had asked me to name the phrase I hated the most, it was ‘New Normal’.  It still is.

Coming to India specifically, the year 2020 indeed turned out to be bad. Yet, I would reckon that we as a country came out of it relatively unscathed.  Of course the economy took a humungous hit. Of course lives were lost. Of course the common man had to go through hardships. Of course senior citizens had a tough time coping up. Of course people lost jobs. Of course migrant labour had to migrate without a hope. Of course earnings of people took a beating. Yet, if one looks at the situation now, we should consider ourselves fortunate to have bent the curve decisively, got away with fewer deaths per million compared to many other countries and be in a position where life seems to be getting back to the “Old Normal”!

Leaving aside data and statistics, there are other reasons that made me say that as a country we came out relatively unscathed.  First our size. We are a population of 1.3 billion. Second, most of the cities and towns in our country have a very high population density. Also, much of the population does not have the luxury of space. Third, our general civic standards though improving by the day, still has a long way to go.  Fourth, our propensity to not follow rules and not be disciplined overpowers our propensity to follow rules and be disciplined. Fifth, our overarching credo of ‘Chalta hai’ has ingrained in us an attitude to take things lightly without getting overly concerned. And finally, the lack of adequate medical infrastructure in the country. All this doesn’t at all augur well for a country like ours to handle a pandemic like Covid. Add to this, the complexities of being a democracy and a federal democracy in that where, a central writ cannot run across the country! Throw in the fact that this is the first time that a Covid like pandemic of this scale has stuck India because of which we don’t have established SOPs or tribal knowledge to handle the situation. All these are recipes for nothing else but social tension and unmitigated economic disaster.

The reality as it panned out has not been so bad.  There has been no visible social tension in the country. The only tension we see these days is “Social media tension” between those who support Prime Minister Narendra Modi and those who oppose him. In fact, the not so privileged have shown tremendous resilience in dealing with the crisis. During the last few months, I have been in constant touch with a cross section of common people who touch our lives and who would have been the most affected due to the extended lockdowns. They have all taken the unfortunate fallout of the pandemic in their stride and have got back to their normal lives now. None of them blamed the government for what it did or what it didn’t do. They all politely refused any offer of support and claimed that they were managing fine. This picture is totally opposite to what one gets to read in columns of the commentariat where the Modi Government’s lock down is being pilloried for what it would have inflicted on the poor.

Further, as an economy we seem to be bouncing back quicker and better than expected. To quote economist and famed columnist Swaminathan Anklesaria Aiyar from one of his recent columns, he says, “First, India has proved far more resilient than expected after the terrible first quarter of Covid. Second, India has been resilient despite having among the smallest fiscal stimuli among major nations.” Again, we have managed without actually doling out cash support which was what was touted as the silver bullet for stimulating the economy by almost all the top economists except those who were advising the Government.  Looking back, unlike a country like US where people like to spend, Indians are conservative in nature and would like to save for the rainy day. So, in a pandemic situation, I feel that people would not have spent even if money was transferred to their accounts. Instead, it would have only been kept aside for savings, which in the final run would have been detrimental to the cause of stimulating the economy. In that sense, the approach of the Government in providing free food grains to the needy or loan support for small businesses etc. seems wiser steps for a country like India.

The New Year has been rung in India with the best possible news of the approval of the vaccine for Covid.  Based on the last few months trend, it is clear that the manufacturing and allied industries are on a re-bound. With the dip in numbers and the availability of vaccine, hopefully, the services sector like Travel, Hospitality, Tourism, Food & Dining and related verticals will also see a quick recovery after which, we can say that we are reaching a “Normal” state.

As we segue into a New Year, my wish has become more grounded and guarded. As one exults “Thank God It’s a New Year”, here’s wishing one and all a New Year 2021 which will be just Normal and that will turn out to be an Annus Mirabilis!