Why Pranab Mukherjee Be the Next President of India
Pranab Mukherjee has never dared, but will soon be the next president of India. Today, there is every reason why Pranab Mukherjee, India's Finance Minister will be its next president. Perhaps it can turn out to be the best thing for India, beset with a series of reversals which have crashed the hopes of western investors and the morale of Indian entrepreneurs.
Pranab Mukherjee, the suave Indian politician and finance minister is a seasoned trouble shooter and negotiator, more like a Full back of a soccer team. Yet when the Team India manager and UPA chair person Sonia Gandhi formed her alliance's second ministry, Pranab Mukherjee, much like David Beckham of Manchester United, chose to play as its striker, setting for himself huge goals of fiscal balance and growth rates.
As a striker finance minister, Pranab Mukherjee is a disaster. Despite being recognised as a no risk taker, letting him have a go at the finances of the country, when keeping the momentum of growth is crucial to political success, is the biggest mistake of Sonia's United Progressive Alliance.
Mukherjee has missed two vital fiscal years and budgets without hitting any goals of reforms and growthwhile a roaring international audience of investors waited for action. The stock markets have tumbled since he took over the ministry. The recent announcements of India oriented tax policies, 2G spectrum licence reversals and corporate penalties have confused everyone. Has India gone back to the eighties?
The result is a disastrous crumbling of investor confidence in India's growth rate. The Indian game is over for them, they have left with their cans of coke and pop corn for action elsewhere. withdrawing huge amounts of investment. The world would rather have someone who played ball like everyone else, especially when they see Indian corporate houses like Mithal, Ambani and Tata grabbing a fair share of international business.
Perhaps this cautious, no risk approach, a typical Indian strain, is what made Pranab Mukherjee a 'political loser' despite his long 43 years in the Indian politics. In his long career he has never become a Chief Minister of his own state of West Bengal or the Prime Minister of India.
Continued on the next page
Yet, by a strange coincidence of political forces which props him for the post of the President of India he will be elevated to that positioning July. His elevation, in political terms, will be like conferring a doctorate on someone who failed his degree and post graduation. Pranab Mukherjee and most of India will however welcome this as a stroke of immense luck like the famous long shot goal David Beckham scored against Wimbledon which instantly made him a household name.