14March2017
Editorial
The art of building Majorities
Reasons for BJP electoral victory
- Disruption of existing patronage networks
- Multi caste coalitions to reflect it as a party spread beyond the caste : BSP and SP have failed to come out of the caste identities and particularistic politics. BJP was able to the reduce the parties as representatives of particular caste rather than representatives of entire Dalits or OBC spectrum. So, it was able to appeal for others among Dalits and OBCs.It shows that mandal politics and regrouping is losing its sheen. Added to that, first pass the post system was giving rich dividends with just 29% of votes in UP and now the same bar was raised by BJP.
- A strong mix of ideology, nationalism and personal appeal of Prime ministers.
- A package of promises that are a gentle mix of national interests and local challenges.
- A strong election machine.
The biggest challenge for BJP is to widen its social base with out loosing its ideological identity. At the same time, party shall acquire larger salience over people. BJP shall see the majority given to it by the voters is for development and not for denominational politics.
Yogendra yadav : A centre left space is shrinking in Indian politics. It needs to find a new vocabulary on the issue of social Justice.
Endofachapter
South Korea is been described as an authoritative democracy by political theorists. It is due to the way of functioning of Koreas modernized Park Chung hee. It has led to growth of Chaebols – family owned business conglomerates South Korea. They kept them selves outside the land of law. As generations have changed, a new wave to deepen democracy is spreading across South Korea.
Impeachment of Park Glen Hyd is a reflection of this change. Her close association with chaebols, high handedness, corruption, autocratic whimsical rule led to her impeachment.
The most provocative foreign policy move is to allow the deployment of THAAD missiles in korea. It has worsened trade relations with China and situation in Korean Peninsula has become much serious now.
For a bold foreign policy
Global order is at cross roads with changing priorities of major powers and India shall find its space in redesigned global world order.
- Global financial institutions like world bank have defined the developmental narrative and today BRICS bank and AIIB are expected to take over the developmental plank.
- Digital economy is expected to provide one quarter of global productivity by 2025.
- Priorities of President Trump are shifting to trade from peace keeping, human rights, environment protection. Cold War logic of containment, reliance on foreign bases and alliances is taking a back seat. His questioning of relevance of UN can decrease its significance as a global institution.
India’s challenges and opportunities
- India is vulnerable to as 2/3 of its IT exports are dependent on US markets. It shall work towards diversification.
- India shall strengthen its cyber security framework as nature of global conflict is changing from direct warfare to disruption of critical cyber infrastructure.
- As asian connectivity is bound to Boise trade, India shall not loose its opportunities in OBOR and shall Join maintains its reservations on CPEC passing through PoK.
Business
MFIs understand Rural customers.
8 out of the 10 small finance banks allowed by RBI are MFIs before. Major advantages with them over cooperative banks and RRBs are
- They are in forefront to understand rural population and their credit cycle needs. So, they can deepen the financial inclusion.
- They have flexibility in operation with least regulation and are fast in adopting new technologies.
- Their geographical spread can be fast unlike cooperative banks that have confined to limited space in india.
World
- Scotland seeks to exit UK
- China is planning five fold increase in Marine force : china is rapidly expanding its marine corps to deploy them at Gwadar port and Djibouti in Horn of Africa in anticipation of its maritime Silk Road.