and Indians will naturally be able to rebuild the econmoy without much effort..
Voters should guard against bribes that corrupt congress/UPA doles oout to poor, minorities, govt servants and farmers in every election year.. from the money it loots from them during rest of the non-election years.
India is capable to achieve more then 10% of GDP growth because if in recession India can grow 7% GDP then in booming time can reach 10% easily.FDI in infrastructure is must to achive double digit 10% GDP growth.India should transform them self into a consumers base Economy. It will Create millions of Jobs in different sectors like Retail, Real state, service, Tourism etc.Target 30% to 50% increase in farmers incomes in next five years by giving them more Subsidy and technology to grow more crops in less land area. If India successfully able to do above things then can achive double digit 10% GDP growth easily.
Really India is in great shape, with CBI lowering of interest rate and raising of taxes on rich through service tax, such as on actors and producers which signals ongoing intent for more equality. India should institute bans on foreign purchases of publicly traded Indian shares above 10% ownership by any one group including takeovers, and overall limit to 40% ownership. Also tariffs should be placed on all imported consumer goods of 500-1000% to prevent their importation unless so good.
From the very beginning, Nehru saw the masses not a consumers but as being forever poverty-stricken peasants who must depend on a benign govt to throw them scraps in order to eke-out a miserable existence. To that, Govt became the big-Kahuna, in charge of the commanding heights of the economy and his destructive License and Permit Raj which stunted the economy and created more poverty than existed before. Even six decades later, little has changed in their mindset...their commitment to their failed destructive Commie economic policies are strong as ever, and rather than creating the environment to allow for the economic upward mobility of the masses, Cong's policy is still to keep the aam aadmi poor, backward and ignorant and totally dependent on govt.
The previous growth story resulted in- 1- The present economic mess, 2- The uncontrolled inflation, 3- Scams and corruption at all levels, 4- The rich getting richer and poor getting poorer, Business houses standing at few thousand crores reached to whopping lakh crores and the middle class forced by unchecked inflation to go into poor class. 4. Realty companies made money by aquiring land without restraint, increasing the prices of land and houses arbitrarily. And the people have been left to struggle with EMIs to pay.
5. Talks of India becoming financial super power every now and then by going past China but recent fall in Rupees has told us the real story. Hence let us now stop the story telling do something concrete or revert to previous models so that 100 crore population can at least live in peace.
Author suggests that a recessionary trend can be overcome by some monetary policies !!
Wow !
He would be the next winner of the Nobel prize !!
The chances of the his proposal to work is less than that of his winning the Nobel.
Indian economy is in disarray for a long time primarily because our manufacturing and agriculture growth had stunted long ago. We were "growing" on paper with the help of service sector which itself cannot act as a primary engine.
Manufacturing died primarily because the economy went into lack of demand. And the lack of demand is solely because of lack of purchasing power for the population.
As corporate taxes got eased and food subsidies got cut there was little purchasing power left with 85% of the population who earns less than 2 dollars a day. If this is the situation where is the market for goods produced. This is why our once famed textile industry crashed - not because 90% of Indians have sufficient cloths, but they cannot afford even that.
Only way out is to reverse these policies. Follow China, if not for anyone else. Make big spends based on domestic savings without relying on FDI. This is how China grew. Its curency will never fall like ours because it has hardly any foreign speculative investors there. Also it has large trade surplus.
For all these to happen we need a strong pro-people ruler.
Both Congress and BJP are pets of corporates and MNCs.
Only an alternative can achieve the radical shift required.
Re: Useless suggestions
by pravin sarode on Jun 17, 2012 09:43 PM
right in 32 rupees only 12 bananas can be purchased or 4 wadapav in mumbai the wada pav started from 2 rupees right now rupees 8 minimum
Depending on useless UPA-2 to fix this mess is like trying to milk water from a rock.They're so useless, they couldn't fix a broken pencil. Rather than the solution, They Are, in fact, The Problem! For nearly 60 years, Cong was happy with the 1-2% "Hindu Rate of return" they got from the Stalinist economic system foisted on them by Nehru and his gang of Commies. It was not until the economic meltdown in the early '90s that Cong was forced, by the IMF, to start economic reforms in order to get a measly few $US billions to stave-off utter national bankruptcy and financial chaos. Fact is, NDA did more with its economic reforms, in its single term in office, than Cong has in its entire stint in power. If the UPA-1 was a total failure, then UPA-2 seems to be trying its darnedest on bettering that score, whose only solution to everything is even more govt. Rather than deeper reforms, and creating enabling legislation to allow the idiot-masses to make their own way, Cong's policy is to keep them poor, backward and illiterate and totally dependent on govt for their existence, the ultimate populist approach to wasting scarce resources for purely political exigency.
