I have tried to understand the economic vision and policies of the new govt of india. I think our govt must think that make in india will only be successful being make for india. The Make for india can only materialise when people are able to afford the price to buy the products of make in india . To make the affordable pricing , we need to create better infrastructure and eco system . To increase the purchasing power of large population of india ,we have to do economic empowerment of people at the bottom of pyramid . How to make poor people a good buyer in india . To get this , we have to increase their incomes sustainably . What are the options now. First is to impart vocational skills in rural and poor Urban populace of india in view of industries and infra projects requirements . Building of roads , power projects , telephone and baking infrastructures can only do enabling financial inclusion universally . The Commercialisation and rationalisation of agricultural practices are must . The sustained encouragements of micro entrepreneurs in the rural india , in the dairy, fishery , poultry and other Agro or rural industrial sectors, can be game changers . Declaring another voluntary disclosure scheme with regard to black cash only. Let the people of india should whiten their black or cash money with impunity . Our Govt may plan some infrastructural bonds at 3/4 interest rates with a lock-in period to divert thus collected money from voluntary disclosures to finance the infrastructure projects and then saving the money from non planned budget in this way can be further invested by cheaper rate financing of business and industry including micro entrepreneurs . The income tax regime should be made reasonable around 15% across the groups. Let the broad tax bases fetch more revenue than direct taxes on rich people. Let the govt goes out of box, I am sure that an economic revolution in india is in offing. No need of crying for FDIs , they will come automatically once there is a market, infrastructures and better eco system of manufacturing goods and services. All big giants of USA are india on their own and not being invited .
Posted on: Sun, 21 Dec 2014 07:26:29 +0000
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