Fall in production has caused the slump in India’s growth rate, but it could be a temporary phase, former Union Minister Anil Shastri said on Wednesday.
“The growth rate, which was around 8 per cent a few years ago, will go up once the production increases. It is not affected by recession elsewhere, but corruption has impeded production. But I believe it is a temporary phase,” Shastri, who heads the lal Bahadur Shastri Memorial Trust, said while addressing the 7th Foundation Day celebration of the SOA University here.
Shastri also released CDs of the SOA University anthem written in Sanskrit by Pandit Nityananda Mishra and set to tune by music director laxmikanta Palit. Both of them were felicitated by him.
The country has to get up and be competitive, Shastri said, adding “We are not able to match China’s infrastructure.”
Pointing out that the country is going through a churning process, Shastri said judicial intervention has made certain things possible which were unthinkable a few years ago. Judicial intervention has made it possible that Ministers and high officials are being sent to jail today.
Referring to management education today, Shastri said all modern methods of management were being practised by leaders like Mahatma Gandhi, Martin luther King and lal Bahadur Shastri.
The meeting, presided over by SOA University Vice-Chancellor Prof RP Mohanty, was also addressed by Dr Hara Prasanna Mishra, former Chairman of IPICOl, Prof Trilochan Pradhan, former Vice-Chancellor of Utkal University and former Director of the Institute of Physics, Dr Purna Chandra Mohapatra, Head of Department, Obstetrics and Gynaecology, SCB Medical College and Dr Gl Sharma, Director of lal Bahadur Shastri Institute of Management, New Delhi.
Dr. Sharma said that about 70 to 80 per cent of the MBAs churned out by around 4,000 B-Schools in India were found to be unemployable and made a fervent plea that students without three to four years of experience in the field should not be allowed to take admission in MBA course.
“It’s because 30 per cent of the learning in MBA occurs in the class room while the rest 70 per cent have to be imbibed outside,” he said.