A letter to Prime Minister Dr Manmohan Singh

Dear Sir,

I admire your degrees, academic achievements and your vision for India. Unfortunately you have been quite unlucky of late. In spite of your much talked about N-deal (Which I believe was not your brain child), the spate of blasts in almost every part of India, financial crisis and the spreading contagion of separatism (be it Kashmiries, be it Asames or be it Marathi Manoos) has defiled your image to such an extent that chances of UPA coming again in center in the coming elections are zilch. However, you still have a few months left. I request you not to hurry up initiating policies which opposition will anyway repeal, instead invest your intelligence in filling up the ditch current crisis (both economic and food) has dug for the coming government.

First and the most important one, why do you think we should invest in infrastructure in such a bad time? I presume that you foresee more FDI and perhaps FII if we have broad roads and big bridges. In the current situation, more expenditure on infrastructure will be just like a burden of making more guns, which cannot reward but siphon money from you. You must understand that ours is the agriculture based economy (Please forgive me but I will never count services). Food crisis, rising food prices in such a country is a matter of shame. You must think about investments in agriculture sector in India. It the real time for inclusion, which you have been talking about.

Second, you with our esteemed finance minister can think of earning by pitching in some oxygen of dollars from your dollar reserve to those corporates, which are dying due to their dollar loans. I know you may say that we shouldn't privatize the profits and socialize the losses. But think this way. Those corporates have to pay up to 10% interest rate on their dollar loans, and you keep your dollar reserves parked in US bond at 5%. I guess maths it quite easy for you now. However, you must remember that crony capitalism too is not always helpful.

Third, time to time I hear your hush-hush about making the Indian Rupee fully convertible. As I have said earlier, I admire your vision for India but you are taking steps which have already fallen for many Asian countries. I humbly remind you of the East Asian crisis (1991). Making rupee fully convertible with straight away put our not so large economy in the hands currency speculators. It will also give liberty to the rich to sell off and run away in the time of crisis. We must learn the growth pattern followed by China. It is growing leaps and bounds, without risking Yuan.

Fourth, your soft views on the separatist movements are condemnable. I remember you admired Indian diaspora in 130 countries, on 15th of August, but the same India is unable to digest UPites and Bhiaries diaspora. Politicians who don't understand even the single word they speak are enjoying your impunity. They know, since you are aleady at the verge of losing coming election, you will not risk your vote bank by going against them. But wait, think, then act. Do you really think such acts will win you votes? Nay! Although we hail from the Darkness, we have seen some lights now. Act against those goons, your act may win you some extra votes.

Fifth, ....

I will keep reminding you about much needed efforts from you time to time.

Thanks,
Manish