Editorials

Time to deliver

The UPA government is firmly in the saddle. It is all set to govern the world\'s most populous democracy for the second consecutive turn. So intense was the enthusiasm that it set a 100-day agenda for its ministers to show a sample of what is to be done in the next 1700 days.
 
So far so good. However, papers, plans and practicals have different dimensions. A hundred days will whiz by before we say Robinson Cruiso.
 
Indian economy is beset with multifarious problems. The biggest challenge is the rural development which means education and health and employment being the priority areas. More than 65 percent Indians live in villages. There are thousands of villages which are yet untouched by any reformatory initiatives. More than half the population yet lives below the poverty line and is illiterate. Millions of children are denied primary education and health services for want of infrastructure. The small industry in india has never come off age. Despite abundant talent, an average Indian youth is denied work as little opportunities come his way.
 
SMEs are the backbone of economy. But today, our economy\'s backbone itself has a fractured backbone. The SMEs in India are much vulnerable to little market fluctuating trends and enjoy no working security. Little wonder, the ongoing slowdown has hit millions of Indian SMEs the hardest resulting in closure of thousands of units rendering millions jobless. The lopsided stimulus packages announced by the government have done little to mitigate the pain as it helped the larger fish swim through the bad waters. SMEs look forward with eager eyes towards practical and productive packages rather than being rendered mere lip service. Despite announcements for inducing liquidity to help cash-starved small industry, banks still shy away from funding the SMEs apprehending bad recoveries. The role of the banks especially in eventualities like economic crisis needs to be reviewed.
 
There is another front where efforts have lacked sadly. When we talk of SMEs, we precisely mean the organised sector which is not even 10 percent. Imagine the magnitude and the potential of the unorganised SME sector. This enormous club of unorganised SMEs is untouched by any government scheme or any financial institution. What has prevented the government so far from making serious efforts to tap this sector. The concern can be addressed in the forthcoming budget.
 
The new government has challenges to meet and ride a road which is far from smooth. Hope has kindled in each SME heart. They reposed trust in the UPA. It is now UPA\'s turn to pay back.