Innovation:-
Rightly said by someone “If you're not failing every now and again, it's a sign you're not doing anything very innovative.”
While long term India growth story remains intact, I believe there is still a lot that needs to be done. Take innovation for instance. India ranks a poor 62 as per the global innovation index brought out by an international agency. What is more worrying is that China is way ahead of India with a rank of 29. Thus, if India has to strive for moving onto a higher growth trajectory, it has to create an enabling environment that will help foster innovation.
Source: Financial Express |
China:- Yon Suk Wangadu.!
China is really a capricious dragon. So much so that many a critics are at loggerheads about their views on the Chinese economy. There are the likes of Jim Rogers who is extremely optimistic on China and view the current slowdown as an intervening adjustment process that will correct in the medium term. Then there are the pessimists. I believe we should listen to both. Today, let's see what the doomsayers have to say. "Every province in China is Greece." Sounds shocking? Even more interesting is the fact that the person who has said this is a Chinese Professor of Finance at the University of Hong
Kong.
According to him, China's Gross Domestic Product (GDP) is going in the reverse and the economy is in the midst of a serious economic crisis- almost on the edge of bankruptcy. It is very difficult to say whether what the professor is saying is indeed true or an exaggeration. But I totally agree with him when he says that the communist regime, through its excessive censorship, does not allow the truth to be known.
Bribe:- No work can be done without it.
'Speed money' is a term that seems to make the act of offering bribes more respectable and facilitative. But if offering bribes would indeed make an organization or economy more efficient, the trait would be restricted only to the affluent. What that means is small organizations or individuals with limited monetary means can never hope to get their things done on time! But our policy makers and corporate heads ironically seem to find nothing wrong with this! Chief Economic Advisor Kaushik Basu's suggestion on legalizing bribes has been supported by Godrej Industries chief Adi Godrej. In fact he even suggested an amount of Rs 5,000 to 10,000 to be fixed for such accelerated deliveries of services.
However, not all industry leaders are in concurrence with the view. Most believe that legalizing bribes, however small the amount, would only make the menace all-pervading. Also the sum of Rs 5,000 or 10,000 may be affordable or unaffordable to different classes of individuals. Hence legalizing it may subject some corporate or individuals to inordinate delays in case of nonpayment of the speed money. Whatever said and done, the very concept of paying extra to get things done on time seems flawed right.??
Food for thought: If your able to correlate Innovation, China & Bribe with respect to India, the point is straight away driven home. I will leave that to you. After all, i have a principle that “Think for yourselves and let others enjoy the privilege to do so too."!!
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