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Arun Sadhu

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A Journalist by profession and a renowned author, Arun Sadhu, works with the same passion in both the fields. The precision and convincing power of his reports; alluring yet captivating power of his stories and novels; both are equally enthralling. His news are unbiased while the characters of his novels are real life and absorbing.
Starting a career as a school teacher in a small village of Maharashtra, Arun Sadhu has worked with many news paper from the Times of India, The Statesman and finally as the Editor of the Free Press Journal in Mumbai. At the same time he wrote many novels in Marathi language, Short stories, plays and Biographies, varying on range of subjects from Politics to science fictions and human relationships to history.

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Window on India
August 23, 2006

News Bullets


Opinion

Blast or two cannot undermine economy - by Arun Sadhu



Come rains or droughts, floods or earthquakes, terror attacks or frenzied bouts of superstitions, observers of the Indian scene confidently assert that India's economy has reached a critical momentum that cannot be easily derailed by quirky disasters, man-made or natural. The belief is not misplaced. The latest economic outlook coming out from the Prime Minister's office gives a cheerful confirmation. Mr. Manmohan Singh is a cautious man not given to bravado or exaggeration. In the latest parliamentary battles, he has emerged with flying colours consolidating his reputation as a man of integrity and setting at rest all doubts about who wields power in the government. It is Singh the economist who had unfolded economic reforms in India as finance ministerway back in 1991. His credibility in the field of his expertise is unquestionable. Indeed, the 59th Independence Day of India on August 15 had dawned with grim trepidation under a gloomy blanket of security over the rain-soaked nation. There were real threats conveyed by friendly intelligence agencies abroad of serious terror attacks in Delhi, Mumbai and elsewhere. In several raids across the contry, police and security agencies had confiscated large volumes of explosives, detonators and guns and had arrested suspected terrorists with connections to highprofile terror organisations of the world. With several terrorist attacks during the last few years in Delhi and Mumbai culminating into the 7/11 serial blasts in Mumbai, the authorities were unlikely to take the warnings lightly. The independence day passed off without any incident and the whole India heaved a collective sigh of relief. Next day, the market pushed up after a day's rest. India has learnt to live with terror threats as the vibrant citizens of Mumbai amply demonstrated last month. Life went on undisturbed. So has the economy. The terrorists' design to blow a hole in India's burgeoning economy and instill a fear in the minds of its people is unlikely to succeed. The figures of economic growth indicate this. Captains of industry and business have underlined this fact.

India is a strange country. Even as it surges ahead in information technology,, software industry and business, usage of communication gadgets and nurturing of quality educational institutions, it swings on the bursts of frenzied superstitious waves occassionally. Yet, there are strong public groups all over the country engaged in eradication of superstition. On the days of religious festivals, be they Hindu, Muslim, Christian or Sikh, the air is filled with joyous prayers, songs and dances. And yet when it comes to do business, Indians do it with ruthless efficiency as it is done everywhere else in the world. Fear of terror has not waned the confidence of entrepreuners, investors, traders and businessmen. After all, the power of economy depends on good governance based on reasonable law and parallel institutions that encourage people's economic activities.The current threat is very high entailing a red alert in metropolitan cities, important commercial establishment and markets and places where crowds gather. The government has beefed up security and business houses have followed. But a blast or two would not undermine the determination of the Indian people.

It is on this background that the Economic Advisory Council to the Prime Minister has forecast 7.9 per cent growth in the economy during the current year. The figure may rise to 8 per cent if the monsoon is good and signs are quite optimistic. This year's achievement comes on top of four years of successive growth of nearly 8 per cent. During the last eight successive quarters the growth has been 8.1 per cent. Industrry nand services have grown at 9.5 per cent up from 8.5 per cent last year. Fuerther, at current prices the size of economy is expected to reach the mark of Rs.40 lakh crore. There is no question India Inc; has arrived on the world scene with a mature confidence in its growing economy.