A hot winter session ahead

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Bikky Khosla | 15 Nov, 2011
The winter session of the Parliament beginning November 22 is likely to be tumultuous affair. There are many major issues up for discussion â Lokpal Bill, Telangana, petrol price hike, black money, 2G scam â issues which will put the political management skills of the Congress-led UPA II government to test once again â issues which are enough for the opposition to create ruckus in the House â issues that may again lead to days of adjournment of the Parliament causing colossal losses of valuable public money.

Apart from the aforesaid issues, another major concern is that the government has apparently failed to materialize many important pieces of legislation, leading to policy paralysis and raising fear that the nation's growth may derail. Goods and Services Tax, Direct Taxes Code Bill, Insurance Bill, Banking Laws Amendment Bill and many other key financial bills have been pending in the Parliament.

The government claims that they require the cooperation of the opposition to push reforms. Of course, Indian politics is quite messy and it is not easy to find consensus and move forward but at the same time it is the responsibility of none but the government to create consensus and frame legislation. On the other hand, all political parties should rise over partisan issues to help the nation.

Policy reform is also critical in tackling the current economic situation. With October exports and September industrial output growth both falling to a two-year low, there is a renewed fear that the effects of the debt crisis in Europe and the slowdown in the US will not spare our economy. In the backdrop of this, speeding up economic reforms is crucial to tackle possible global economic threats and build up confidence in the domestic front.

There is no doubt that the government should speed up decision-making to sustain economic growth. The crucial reforms introduced in 1991 have propelled India's economy to a new height. Now it is the right time for a second phase of reforms. For that, the government must be able to break the political logjam over the issue of corruption that has, in turn, led to policy paralysis. In addition, the opposition parties must show a constructive approach to pave the way for bringing further economic success to the nation.