Letters: Rare voice of criticism

Rajiv Bajaj’s comment on demonetisation deserves more than applause as it is one of those rare occasions when a businessman has chosen to criticise a government action because it hurts his business. In a land of sycophants, where every businessman strives to outdo everyone else on the servility score, it is refreshing to see a young businessman speak his mind, not out of any nationalistic or altruistic consideration, but simply because he did not agree with the policy. Compare this with one gem of a statement made within three weeks of demonetisation by a man touted as an icon of Indian banking, Aditya Puri: “Economists are talking nonsense on GDP decline.” When was the last time a serious businessman took on the government on any policy issue? Judging by the deafening chorus of homilies from the business community on any initiative the governments can do no wrong, no matter which party is in power. The handouts of tycoons and bankers at the end of every Budget all read the same year after year, except for a change of comma here or a full stop there, making you wonder why this country is still struggling on many fronts.

It is a shame that nearly seven decades after Independence, the business community has not developed a spine to differ publicly with government policies, despite amassing a fortune that should give them enough financial clout to voice their opinion independently. Even the most outrageous policy pronouncement which does not make any economic sense, like demonetisation, draws nothing but endorsement from their associations. Witness the stream of ads some of these associations bring out periodically eulogising the government and their policies. By acting as government spokespersons, they have significantly diminished their influence and importance in polity.

Contrast this with what is happening in the US today. Many tech majors have voluntarily impleaded themselves as parties to the case seeking to quash Donald Trump’s travel ban order. Business leaders have not minced words in denouncing many of Trump’s policies openly if they are perceived to be detrimental to their interest. Can anyone in this country imagine a businessman openly challenging a government policy in court, except in routine tax matters? It is a pity that a book on the much practised grovelling art form of India is yet to be written.

Prem Bhanu, Mumbai

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