Rapid economic growth is no longer an option for India, but a necessity as there is far too much at stake in this country, said Vinod Rai, former Comptroller and Auditor General of India (CAG). Expressing optimism over the growth potential of the country, he said India is passing through an inflection point.
The journey from now will put the country on a growth track, which will be significant, steady and sustainable. “May be we do not see any dramatic turnaround immediately, but very soon. I see greenshoots all over. We have the wherewithal, knowledge and facilities to get there,” he said.
Delivering the valedictory address at the seminar on “India 2015: Restoring Confidence, Regaining Momentum”, organised by Madras Management Association (MMA), here today, he said the worst is over. The younger generation understands that transparency and morality are important in every organisation, be it corporate or government, he observed.
Transparency in decision making is important. Particularly when it comes to the Government, when it collects money from the public and spends on behalf of the public. Everyone has the right to know precisely how much it spends and on what. The younger generation is no longer willing to accept any process that cannot stand the scrutiny of transparency.
The “gen-next” across societies feel that they need to play the game by the rules. They do not want to jump the queue or take short-cuts.
“The remarkable manner in which the younger Members of Parliament did not allow the Bill meant to overcome the Supreme Court verdict preventing people who were convicted criminally for two years from contesting elections, clearly indicates that they are agile and want morality. This is very encouraging,” he said.
The positive signs would surely lift business confidence and will be the trigger for the economy.