In The Future of India: Politics, Economics and Governance , Bimal Jalan, former governor of the Reserve Bank of India, takes up the formidable challenge of examining the nuts and bolts of this proposition. In his thought-provoking, clear-sighted analysis, he argues that the key factors to success are three: politics, economics and governance. It is the interface between these, and their combined effect on the functioning of our democracy, which will largely determine India¹s future. An understanding of this interface will help explain the swings in India¹s political and economic fortunes over the past decades, and why the promise has been belied.
In the light of experience, argues Jalan, there is no certainty that the present euphoria will last unless there is the political will to seize the new opportunities that are available. He proceeds to suggest steps that can be taken to smoothen our path to progress: ways to strengthen Parliament and the judiciary; a series of political reforms that would, among other things, see greater accountability among ministers; and effective ways to curb corruption and enhance fiscal viability. In all these there is an emphasis on the pragmatic, born of Jalan's experience as an administrator, economist and member of Parliament.