Following is the
introduction to a Graduation Day Address
prepared for an institution in response to telephonic invitation and later
the function was cancelled. The full text I am unable to locate. I have concealed
the identity of the institution.
At the very outset let me express my sincere thanks and
heartfelt gratitude for giving me the pleasant and proud privilege to address
the engineering graduate students of the reputed X Group of institutions, It is
not only an honour but also a duty as I had been associated with this academic intuitions
since its inception. I distinctly remember The Hindu Business Line Club debate
and discussion and also some keynote addresses I have given on this platform.
There are so many issues and problems crying for attention
and solution. Given my International Economics and also philosophical
background I will attempt to dwell upon a few themes which need not be continuous
or connected but more relevant in so far as drawing attention of the public
is concerned.
More than four decades of rigorous teaching and serious research
experience have given me some knowledge and academic solidity that I would
confine myself to a few select themes and say things which normally many others
would like to gloss over and hence hesitate to tell and therefore would remain
unsaid.
In that sense in what follows I would be more unconventional
and unusual in my articulation and I will take sufficient care that i will not
permit myself to transgress the
boundaries of established tradition and self imposed discipline.
At a time when there is more chaos in the oil rich middle East
countries, which has greatly affected our oil imports and also hastened the
process of repatriation of our workers there including the Nurses we have made
a silent revolution in changing the political landscape of the country by
breaking the monopoly power of congress party which has now touched the bottom
for the first time in the history. The credit goes to the matured though
illiterate masses. Unlike some of our neighbours the greatest thing about our
democracy is its resilience and vibrancy although the residual elements of
feudal dynasty still lingers in a larger measure.
An equally significant development was the elevation of an
ordinary OBC candidate who sold tea at railway station helping his family as a school
going kid who could fit himself as chief Minister of a state and later get into
the driver’s seat of Prime Minister,buldozing the opposition both from within
and also outside and also much against
the heavy odds and trenchant criticism levelled against him. To what extent
there is going to be a paradigm shift in policies and programmes we are not
sure as the first truncated budget does not have the firework of the previous
NDA REGIME of the late 1990’s. However as thanks giving gesture some concession
has been shown to the middle class. No measures for fireworks in stock market
but a verbal concern for the poor. Regardless of one’s own likes or dislikes
Modi’s victory has imparted stability to our polity and economy.
All of you know since the darker days of global economic
crisis close on the heels of sub-prime Lending crisis and the consequent
recession all over the world the growth impulses have been crippled. We are now
growing at a rate far below our potentials. The paradox however is that with
low and sluggish growth there is more inflation especially on fuel and food and they defy solution. Huge trade and current
account deficits and also fiscal deficits continue to pose more risk putting
pressure on rupee value and also preventing us from lowering the interest rate.
Erosion of money value is reflected in escalation in gold price and real estate
values. Many poor people can not afford house and even minimum jewels.
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