Rajan warned against majoritarianism, saying Sri Lanka is an example of what happens when a country’s leaders target minorities to distract from the labor crisis.
At the fifth convention of the All India Professional Congress, a wing of the Congress party held in Chhattisgarh’s capital Raipur, Rajan said any attempt to turn minorities into “second-class citizens” would divide the country.
Rajan “Why Liberal Democracy is Necessary for India’s Economic Development”. Share your thoughts on the topic.
“What is happening to liberal democracy in this country and is it really necessary for Indian development? We need to strengthen it. There is a feeling in some parts of India today that democracy is holding India back. Strong leadership and even autocratic will work for India, with some checks and balances and we seem to be heading in that direction.
Rajan said, “I think this argument is completely wrong.” It is based on the old development model, which emphasizes goods and capital rather than people and ideas.
He said the country’s poor performance in terms of economic development “indicates the way we need to rethink”.
The former RBI governor said, “Our future lies in strengthening our liberal democracy and its institutions, not in weakening them, and that is really necessary for our development.”
Explaining why autocracy associated with majoritarianism must be defeated, he said: “Any attempt to turn a large section of minorities into second-class citizens will divide the country and create internal discontent.”
Rajan said this will also create the possibility of foreign interference in the country.
Referring to the current crisis in Sri Lanka, he said the island nation was witnessing the consequences when the country’s leaders target minorities in an attempt to divert attention from their inability to generate jobs.
Rajan said that liberalism is not a complete religion and the essence of all great religions is to find what is good in everyone, which in many ways is also the essence of liberal democracy. He stated that India’s slow growth rate is not only due to the Kovid-19 pandemic, but the slowdown in the economy was already there.
“In fact, probably for almost a decade since the start of the global financial crisis, we haven’t been doing as well as we could have been,” he said. The main reason for this poor performance is the inability to create good jobs for our youth.
Referring to the protests against the Centre’s Agniveer military recruitment scheme, Rajan said it shows how the youth aspired to work.
He said: “Recently, you saw 1.25 million applicants for 35,000 railway jobs. This is particularly worrying when there is a shortage of jobs in India with so many women not working outside home.India’s female labor force participation is 20.3% in 2019, which is the lowest in the G-20.
Talking about the “development vision” of the current government led by Prime Minister Narendra Modi, he said it is centered around the word “self-sufficient”.
“Now that he is emphasizing better connectivity, better logistics, better roads and devoting more resources to it, in a way this (self-sufficient vision) seems to be a continuation of the reforms of the past decades and that is good,” he said .
The former governor said that in many ways, what ‘Aatmanirbhar’ is trying to achieve leads to a failed past, where the focus was on physical capital, not human capital, security and subsidies, not liberalisation. , it was about picking the favorite to lead sooner. than to let the most capable succeed.
He said there was a poor sense of priorities. He said that the country does not spend enough on education, which will not have good results.
Rajan said many children have not been to school for two years. Their human capital, which is their most important asset for them and our future years, is something we are neglecting. We are failing them by not giving them enough resources in the educational field.
(with input from the language of the news agency)
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