* Mr. D. Subbarao, IAS & former RBI Governor, in his article, Has IAS Failed the Nation? attempted to analyse the malaise in the IAS. The standard scapegoat is the recruitment examination, the induction training, the subsequent in-service training, limited opportunities for self-improvement, and indifferent or callous career management. These are all the areas in need of improvement but to think that these are the biggest problems ailing IAS is to miss the wood for the trees. The biggest problems affecting the system is deeply flawed system of incentives and penalties. The service still attracts the best talent in the country who with energy and enthusiasm want to change the world but they change themselves by becoming the cog in the wheels of complacency, inefficiency & indifference.
He acknowledged that there are hundreds of young IAS officers out there in the field performing near miracles under testing circumstance. He admitted that his generation of civil servants and subsequent cohorts have bequeathed a flawed legacy to these unsung heroes. To them passes the challenges and opportunity of recovering the soul of the IAS.
* Amidst the gloom and uncertainty over the Ukraine War, there is something India can cheer about. The country’s export has touched the $ 400 billion (Rs. 30.4 lakh crore) mark for the first time, helped by opening up of the global economy in Post-pandemic period and high commodity prices favouring exporters of petroleum products, metals and steel. By March end it’s expected to touch $ 410 billion. For a country that had been trying hard to reverse its fortunes in export, this is a significant achievement. The question now is how sustainable this export growth is. As long as high prices last and the economy is not hampered by another way of covid, the Ukraine war has created a commodity squeeze in Europe, which countries like India can fill in. Hailing the country’s success in achieving its goods export target, PM said that this is a key milestone in India’s आत्मनिर्भर भारत journey. The key export sectors are petroleum products, engineering, gems and jewellery, chemicals and pharmaceuticals. The top five export destinations are USA, UAE, China, Bangladesh and the Netherlands.
* Number of companies having credit exposures Rs. 5 crore or above and categorised as non-performing assets (NPAs) have been hovering in a range of 5485 to 5755 during March 2016 to March 31 2021. But as on 31 Dec 2021, this number has come down to 5231. India INCs credit quality has remarkable improvement in FY22, according to an analysis of rating agencies like CRISIL and ICRA. Are we leaving the worst behind?
* What is the pulse of the global investors now, especially with respect to India? Can India distinguish itself from other emerging markets? Mr. Deepak Parekh, HDFC Chairman, answered, given India’s growth potential, political stability, rapid scale up in vaccination, promising entrepreneurship, it’s digital stack, and rising middle class, among several others the country still does not get its rightful place in the international stage particularly in terms of coverage by the foreign press. We get more negative coverage and we will have to work very hard to change this perception or raise awareness in this. * This year OSCAR Award 2022 ceremony was memorable for many reasons. The kind of transformation OTT explosion and streaming Platform is bringing in the creative field of cinema is mind blowing. With CODA winning this year the best picture Oscar and the closest runner up The Power of The Dog was also from a streaming platform. The powerful studio of the west and filmmakers like Steven Spielberg opposed the entry of streaming platform and said that theatrical release should be must for OSCAR. But streaming platform found a hybrid route and spurred a creative revolution. Will Smith’s थप्पड़ की गूंज will reverberate much longer than the news of his winning the Best Actor award for King Richard. Remember our own Delhi Crime tasted Emmy Success indication that there is global audience even for local content. Oscar awards only confirmed that OTT platforms are heaven for cinematic creativity.