Double digit growth is not only a possibility but something that can be a reality if we know how to work for it. Innovation, like everywhere else, can provide the key to take the nation forward
The concept of non-performing assets is a nightmare to any head of an institution. Unfortunately, the focus of non-performing assets is focussed on financial dealings or material assets. A great anxiety overtakes an organisation when the NPAs cross the threshold mark. The problem, however, is not just there but for a much larger manner in a different sector altogether. Consider India of one billion population. The extent of poverty is 30 per cent. Approximating the figures, it means 300 m people are still below poverty line. Poverty here really indicates the non-performing assets. If one does not have skill development and capacity building then non-performing asset — read ‘poverty’ — is destined to grow.
There are seminars which talk of demographic dividend. They confine themselves to numbers, at time total numbers. There are on others occasions when people talk of the age factor. Very few are actually do move on to the conversion factor of these numbers to productive worth. Conversion will come out of knowledge development and skill development.
The overwhelming part of Indian intellectual elite is anchored in prestigious learning centers of the West. They derive their status from association with Cambridge, Oxford, Harvard, Cornell and more. There is nothing wrong with that. In fact, it is an index of intellectual international benchmarking. However, by itself it does not go far enough because what gets recognition in those centers may not necessarily be relevant for Indian developmental processes. The skill development and capacity building for the Indian poor begs attention.
There is a broad awareness of this dimension and every one once in a while one hears of technicians’ development plan or skill up gradation corporations. What is needed is an all India vision. If the acme of growth and recognition continues to be prestigious assignments in the IMF or the World Bank or the Asian Development Bank, it causes a streaming of energy which while exhilarating is not necessarily edifying and certainly non-relevant to the operational ground conditions of development in India.
The full package will have to include emancipated processes and not necessarily prescriptions written by doctors who have tried to understand the malaise by downloading websites or looking at simulated statistics.
This package will have to include economic enablement at the grass route level. Enablement itself is a complex situation and at times requires the realignment of existing social structure. Consider the case of Panchayti Raj. It is attractive at the conceptual level to the point of being seductive. However, if this is to mean handing over power to khap panchayats of particular variety , its wisdom is open to serious doubt.
Mercifully such aberrations are not universal. Therein lies hope. Participatory democracy has to be encouraged and that would mean a great deal more than the political right of casting votes. For any of this to happen, service delivery has to improve and rural penetration of technology friendly transportation and ICT has to be almost universal. The Government clearly lacks the financial muscle to make this happen. Sporadic intervention under CSR by corporates can not create all India impact. When this is coupled up with retail corruption, the leakages are enormous and the parasite class of entrepreneurs which survive on tapping funds meant for other beneficiaries swings into action. What is needed is an integrated vision on the assumptions and premises of development.
The current effort by political parties to score brownie points out of the lapses of the opponents, while entirely understandable, contributes to overall dysfunctionality. The steps of RTI and the rural employment scheme are clearly well intentioned but they do not have the capacity to get to the root of the problem which is structural and deformed by systematic distortion brought about by vested interests.
Double digit growth is not only a possibility but something that can be a reality if we know how to work for it. Innovation, like everywhere else, would provide the key to take matters forward.
This may require recasting of the university system itself. Innovation research programmes need to be launched at different levels, with different intensity, depending upon the nature of the institutions. Assessment needs to be made on what will be the return of investment, what will be the value addition that will emanate, where could be the findings disseminated and what was the commercial aspects for funds being given. A systematic process needs to be adopted in innovation research programme.
This is one way of reducing NPAs and enabling double digit growth.
Source: Pioneer
The concept of non-performing assets is a nightmare to any head of an institution. Unfortunately, the focus of non-performing assets is focussed on financial dealings or material assets. A great anxiety overtakes an organisation when the NPAs cross the threshold mark. The problem, however, is not just there but for a much larger manner in a different sector altogether. Consider India of one billion population. The extent of poverty is 30 per cent. Approximating the figures, it means 300 m people are still below poverty line. Poverty here really indicates the non-performing assets. If one does not have skill development and capacity building then non-performing asset — read ‘poverty’ — is destined to grow.
There are seminars which talk of demographic dividend. They confine themselves to numbers, at time total numbers. There are on others occasions when people talk of the age factor. Very few are actually do move on to the conversion factor of these numbers to productive worth. Conversion will come out of knowledge development and skill development.
The overwhelming part of Indian intellectual elite is anchored in prestigious learning centers of the West. They derive their status from association with Cambridge, Oxford, Harvard, Cornell and more. There is nothing wrong with that. In fact, it is an index of intellectual international benchmarking. However, by itself it does not go far enough because what gets recognition in those centers may not necessarily be relevant for Indian developmental processes. The skill development and capacity building for the Indian poor begs attention.
There is a broad awareness of this dimension and every one once in a while one hears of technicians’ development plan or skill up gradation corporations. What is needed is an all India vision. If the acme of growth and recognition continues to be prestigious assignments in the IMF or the World Bank or the Asian Development Bank, it causes a streaming of energy which while exhilarating is not necessarily edifying and certainly non-relevant to the operational ground conditions of development in India.
The full package will have to include emancipated processes and not necessarily prescriptions written by doctors who have tried to understand the malaise by downloading websites or looking at simulated statistics.
This package will have to include economic enablement at the grass route level. Enablement itself is a complex situation and at times requires the realignment of existing social structure. Consider the case of Panchayti Raj. It is attractive at the conceptual level to the point of being seductive. However, if this is to mean handing over power to khap panchayats of particular variety , its wisdom is open to serious doubt.
Mercifully such aberrations are not universal. Therein lies hope. Participatory democracy has to be encouraged and that would mean a great deal more than the political right of casting votes. For any of this to happen, service delivery has to improve and rural penetration of technology friendly transportation and ICT has to be almost universal. The Government clearly lacks the financial muscle to make this happen. Sporadic intervention under CSR by corporates can not create all India impact. When this is coupled up with retail corruption, the leakages are enormous and the parasite class of entrepreneurs which survive on tapping funds meant for other beneficiaries swings into action. What is needed is an integrated vision on the assumptions and premises of development.
The current effort by political parties to score brownie points out of the lapses of the opponents, while entirely understandable, contributes to overall dysfunctionality. The steps of RTI and the rural employment scheme are clearly well intentioned but they do not have the capacity to get to the root of the problem which is structural and deformed by systematic distortion brought about by vested interests.
Double digit growth is not only a possibility but something that can be a reality if we know how to work for it. Innovation, like everywhere else, would provide the key to take matters forward.
This may require recasting of the university system itself. Innovation research programmes need to be launched at different levels, with different intensity, depending upon the nature of the institutions. Assessment needs to be made on what will be the return of investment, what will be the value addition that will emanate, where could be the findings disseminated and what was the commercial aspects for funds being given. A systematic process needs to be adopted in innovation research programme.
This is one way of reducing NPAs and enabling double digit growth.
Source: Pioneer
