Hi Frnds, I am writing again on INDIA and its current scenario, I would like to begin by the economic reforms of RBI failing in one respect or other and Indian Rupee sinking down the drain regularly. We claim to be 10th largest economy of the world. What are we doing to save the face value of our currency which is very important for the international trade or we will continue to incur a lot of debt on oil, wheat & Iron. Yes Sir, we are importing wheat and Iron when we are quite capable of fulfilling our needs. This is the effect of the wrong policies of our government since 1996. We store wheat for emergency in godown which allows people to be starve and politicians eat commision on import on wheat & Iron. God knows what we upto.?!!! Talking about the cause and effect of corruption is very old story and if I will repeat that here you guys become disinterested in this blog . I would thus like to talk about the next economic steps for a) Controlling Money value. b) FDI and Taxation c) Gold prices Lets start from the a) . Controlling money value has been an unending herculean effort for the RBI. Government has not been able to implement any substantial policy to counteract this. Thus the onus falls on the local people. I am not saying that it would happen in a day or two, it might be 2-3 months before you see any effect. But the right thing to do here is to purchase less, do not purchase big items for merely showing your status. Travel only when necessary or when someone else is paying. Do not take hefty loans from banks. All this will result in more money in savings and less on the market. Once that happens the value will rise significantly. As per the estimation of a know wall street broker( not to be named) , if every Indian does this for 2-3 months we might be able to achieve 55Rs /dollar mark. This will ensure that the government will not have money to squander in useless imports by putting tax on the services purchased. The market will have automatically shift towards rupee eventually to flat out the availability. This needs to be done by 600 million Indians who are substantially taking loans, purchasing useless products and paying cinema halls 300-600 bucks for a movie, why ? 80-150 rs is viable for movie ticket for Shahrukh or who so ever. They then start to take all the profit and we are being looted. Thus lets control our expenses to save the face of rupee. Moving to the FDI and Taxation, Its very hard line to walk with the corrupt politicians. Every body knows we are huge consumers. I am sure all of you have 10-20 K of home bills in groceries and electricity, travel every month as per family size. I am not counting any specific expenses but referring to only the basic expenses. With that, We can get a lot of FDI in infrastructure services, telecom, retail and hospitals. This will better our life style and also provide more health care. I for instance would like to see a government run plan for basic health care , after they will successfully introduced the food security bill. This will help the poor espacially again given no corruption and in turn drive a lot of FDI as there is a big population to invest and Indian fall ill way less than developed countries of the world. This will in turn also drive up the rupee value owning to a lot of investments. Our government and their allies should start considering this. Next talking about taxation, we need to raise the tax limit. This could be called a biased decision and government might even start loosing on the income. But my suggestion is more strict scrutiny of people rather than asking 2L income to pay tax. How many shopkeepers are tax payers. What is happening to all the non-billed income in small cities. Providing a bill should be made mandatory across the country. This will help us to prevent black marketing and also will raise government next tax collection even at a higher level of say 3 L/annum. Now I would not like to comment of how those funds be utilized as that is again a corruption free dream for us. Finally talking about Gold , it is based on the same principle as others. We will have stop taking gold as the forever metal. We would have to dig into our reserves at home for a joyous occasion as marriage. Rather than buying costly gold from market, We should be prevent any more value upsurging by controlling new purchases. This will drop down the value of gold to 20K/10gm within a year. No one wants gold more than in India. All other just use gold for research and maybe as little bit jewellery but the truth is we have inflated Gold prices. Lets control them. So with all this I would now like to point out which all of you would have seen, our judiciary has become active to a point where all the corrupt and useless government and other institutions are being challenged openly. May be its Centre, state or BCCI. The old cases are being finished to give verdicts. We re really reaping the Media reach at this point. Now I am not saying we should vote for which party, but we need to change the ruling system to a Youth based system. Enough of 80 year olds running the country. You vote for Congress, BJP, Left, AAP or form something of your own, but you need to silent the old goons of politics. Lalu, digvijay, Advani, Jayalaitha, Mayawati, Mulayam and others of that useless stint needs to be dragged down in mud. They should be defeated in their MP election next year. We need to form a young government. With that thought I will take your leave.. Adios and see you seen…..
Posted on: Tue, 30 Jul 2013 16:44:34 +0000
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