Seoul, March 25 – ‘To minimize the impact of the new economic reality of the global economic crisis, we need good governance at all levels of operation in the economy starting from those at the international level ( World Bank, IMF, WTO) to those governing social & economic relations in the family and the neighborhood. The Five pillars of good governance are: Political Reforms, Empowerment of Local Governments, Speedy and Efficient Justice System, Instruments of accountability, Implementation of Best practices.’, opined Professor (Dr.) M.M. Goel, Graduate School of International & Area Studies, Hankuk University of Foreign Studies, Seoul. He was addressing the Indian economy expert meeting here yesterday evening organized by Center for Regional Economic Studies/Southeast and South Asia at Korea Institute for International Economic Policy (KIEP).
“We can call ‘Good Governance’ as SMART administration consisting of Simple, Moral, Accountable, Responsive and Transparency attributes. The other internationally recognized features of ‘Good Governance’ are participation, consensus oriented, effective and efficient, equitable and inclusive and follow the rule of law. It assures that corruption is minimized, the views of minorities are taken into account and that the voices of most vulnerable in the society are heard in decision making. It is also responsive to the future and present needs of the society,” said Professor Goel who is the first Indian Council for Cultural Relations (ICCR) Chair Professor of Indian Economy in Korea.
To adopt and accept the normative approach to human resources in good governance, it is essential to understand SIMPLE model consisting of six human development activities such as Spiritual quotient (SQ) development, Intuition development, Mental level development, Physical development, Love yourself attitude development and Emotional quotient (EQ) development. The synergy of these six aspects is essential requirement of the desirable human resources for the good governance anywhere including Korea and India, believes Professor Goel
To be ready to reduce risks of overpopulation with rhythm, we need to recruit, retrain in relationship, the human resources with retention and respect (9 Rs of HRM) in family welfare programmes, said Professor Goel.
To provide ROTI (Bread) and livelihood to the unemployed, we need to increase ROTI- Returns On Training Investment, said Professor Goel.
To utilize the human capital of India in an effective manner calls for manpower planning for matching demand and supply of skilled personnel, training of manpower for reducing mismatch between the abilities and the jobs on offer and above all mechanism by pairing people with jobs through information network (WWW), said Professor Goel
We will fetch fortune of the demographic dividend being claimed by the data of 2001 census consisted of 58.2 percent people in the age group (15-60 years) – the productive age group for work and is likely to increase in 2026 as 68.4 percent. This calls for awakening of Indian youth for the education and training. India is emerging as knowledge economy, told Professor Goel.
Earlier Dr.Choongjae Cho, Team Leader Southeast and South Asia Center for Regional Economic Studies introduced and welcome Professor Goel to the participants including Professor Chanwahn Kim, Dr. Bonghooon Kim, Dr. Jung Moosup, Mr. Y. Kim Dr. Ho Sang Choi, Dr.Joon-Ho Lee,Dr.Hwaseok Oh ,DrYoonJung Choi and Dr. Song, Young Chul who raised pertinent questions on the emerging economies of India and Korea and trade relations in 2011 -year of India in Korea and year of Korea in India.