Page 13 - DECO303_INDIAN_ECONOMY_ENGLISH

Indian Economy

Notes But my issue is not with the form of the government or the economic ideology as I believe that
they are merely an extension of the morality that exists in the society.
That morality which teaches you to live for others. And that which considers living for oneself
is a sin. That which glorifies sacrifice and reprimands any act of self-interest. That which identifies
only ‘we’ and turns a blind eye to ‘I’. That which sees ‘giving’ as a value and ‘earning’ as an evil.
When they say ‘tax the rich’ it is this morality that works. Philanthropy is praised, productivity/
creativity is penalized. Which says that man has no right to exist for his own sake that service to
others is the only justification of his existence, and that self-sacrifice is his highest moral duty.
From family to businesses to governments, every system is plagued by this altruistic/collectivist
morality. Not an ocean of tears nor all the guns in the world can let a man create something
except freedom of the mind.

Self Assessment

Fill in the blanks:
7. “While global factors have caused general weaknesses in emerging market currencies, the
rupee has been especially hit …………………… .

8. The Public is nothing but a sum of groups and individuals with varied …………………….

Case Study A Big Push Decision

hief Minister of Gujarat Mr Narendra Modi may not know the theory of Big Push
but he certainly knows how to give big push to industry and development in the
Cstate. He saw the opportunity for Gujarat in the issue of TATA. When TATA’s
Nano project was struggling to survive in West Bengal, Mr Modi appeared on the scene as
a white knight and offered 1,110 acres of land to TATA to set up a plant in Gujarat.
The real estate business which was experiencing one of the worst recessionary periods
received a sudden boost after TATA Motors move to set up a plant near Ahmedabad
(Sanand). This has led to the exponential increase in the prices of land around the Nano
plant site with the rate of an acre being quoted as high as ` 40 Lakh from ` 5 Lakh that
prevailed a day before the Govt. allocation to Tata Motors. At a time when most property
developers are going slow on luxury projects and promoting budget homes, an array of
deluxe properties are coming up, which include multi-crore golf villa projects, large
integrated townships and premium shopping plazas.
A leading builder Jateen Gupta, who has planned to set up a shopping mall, about 10Km
from the Nano plant on the Ahmedabad Sanand Highway has already tied up with retailers,
such as, Landmark, Star India Bazaar and Westside supermarkets, a part of the Tata Group.
TATA Housing Development Co. Ltd., the property development arm of the TATA Group,
wanted to develop a 100 acre plot for housing and retail space for Tata Motors’ employees,
who will work on the Nano Project.
The Government’s decision to ramp up the infrastructure facilities around the Nano project
too has helped property prices shoot up. To ease the flow of traffic between Ahmedabad
and Sanand, the State Govt. has decided to widen the five Km stretch of the Sarkhej -
Gandhinagar Highway between Thaltej Gurudwara and Sanand Crossroads. The 17 meter
road will be widened to 24.5 metres to convert it into a six-lane stretch.
Contd...

8 LOVELY PROFESSIONAL UNIVERSITY