A recent research report goes as foolows"Over 1950-1980 the bottom 50% of India captured 28% of the total growth and the income of this group grew faster than the average and the top 0.1%incomes decreased Over 1980 -2014 top 0.1% Earners (of India )captured a higher share of the total growth than the bottom 50% ( earners of india)(12%versus 11%) and the top 1% received a higher share of total growth than the middle 40% (29% as against23%) web site WID.world This says the wealth capture by the Bottom 50% has come from28% during the period1950-1980 to 11% during1980 -2014 coinciding with the period of PRIVATIZATIOn.SO HONESTLY ,ETHICALLY, CORRECTLY,SINCERELYWILFULLY,We have to give STIMULI TO PRIVATE SECTOR TO BRING DOWN THE WEALTH CAPTURING BY THE BOTTOM 50% to still less say first to 5% from this 11% and then we will see.Why our ECONOMICSDOM does n't take project like the report in the said site. INDIA you are beyond edemptionR.PONNAMBALAM
My suggestion is that the govt should sell 100% of Air India, MTNL and BSNL before they become worthless in a 4-5 years. Maybe also 2-3 of the severe NPA affected banks like IOB, etc. Use the money for capitalizing the decent remaining PSU banks. If govt can fetch 50,000 crore by auctioning these sick companies and put it into the better PSU banks, the bank sector stress will improve considerably.
Govt should also step up the disinvestment of many other PSU companies and hold maximum of 52% shares in these companies. It will improve their efficiency due to shareholder accountability and generate easily another 50,000 to 1 lakh crores of cash which can be used for productive infrastructure spending, health and education.
The govt had long back identified 20-30 chronically sick PSUs like Scooters India, HMT watches, etc which are not producing anything. These should be immediately sold and all employees should either be given VRS or taken into other healthy PSU companies. Put these employees in Railways or Coal India, NTPC, etc where they will do real work instead of sitting idle and getting salaries for nothing.
If the govt does all this, the world will sit up and take notice and the sentiment about the economy will change significantly.
Some of the proceeds from these disinvestments can also be used to reduce GST and income taxes further. Bring down the 12% GST slab to 10% and 18% slab to 15%. Income tax slabs could also be sweetened.
For 60years our Economic Planners are giving all sorts of STIMULUS packages to our Economy.WHAT USE? The bottom 30% of people have 1.4% of national wealth.People wrote that 40%GDP comes from INFORMAL SECTOR ie BLACK MONEY SECTOR.When currency returned to banks were Counted it got going on and on and on and it came telling that 99% of notes had come back ;PRACTICALLY ALL WHITE !!There were no rich men in bank queues.THIS IS INDIAN ECONOMIC MIRACLE>our Economics Industry wants refinancing of banks.That 8 lakhs crores of NPA comes to aboutRs.5600 per head of Indian.Many poor people like me have to beg for that money sitting on the road side and give our share for refinancing of banks.Otherwise how the country can refinance banks R,PONNAMBALAM
Re: My share to refinance banks
by Nitin on Oct 08, 2017 03:31 PM
Why are you telling you lies calling yourself as a poor man? Keep some honesty in your pocket
Re: My share to refinance banks
by bakchod on Oct 08, 2017 08:38 PM
Are you really begging on the roadside? Is the income good enough to come and post silly comments on this messageboard?
Modi has to do first things first.Go after black money as a policy.Modi should go all out with all guns blazing and get a large chunk of blsck money,which Dr.Swamy says it is even now possible to hunt down sonia.Enact a national policy to tackle corruption as a priority.With the majority he still has ,modi has to clean the nation.Then put in place plans to moderenise agriculture.These acts will not only improve our financial health but signal a flag for homesty which will be the biggest stimulus that modi can give this country and all his past mistakes will be forgiven.
Modi has to do first things first.Go after black money as a policy.Modi should go all out with all guns blazing and get a large chunk of blsck money,which Dr.Swamy says it is even now possible to hunt down sonia.Enact a national policy to tackle corruption as a priority.With the majority he still has ,modi has to clean the nation.Then put in place plans to moderenise agriculture.These acts will not only improve our financial health but signal a flag for homesty which will be the biggest stimulus that modi can give this country and all his past mistakes will be forgiven.
Mother of all problem is India's rising population, we add one Australia every year , then how can we feed all population.? without doing anything on this ,all the effort of MODI will fail.
is just too naive to understand that he does not even have any elbow room with the Indian economy, much less the kind of space with which he imagines he can display his mythical 56 inch chest !
And the half baked GST and the still born demonetization and the crassly stuxpid cattle sale ban are testimonies for his attempts to display his 56 inch chest even while remaining stuck in a 10 inch smokestack !
Re: Modi bin Tughlaq
by Lalukumar Choubey on Oct 07, 2017 05:17 PM
First India needs to get rid of Mopla Lungi Piri and Pinarayi Palakkad kind of rabbles who are not only burden on us by liability for future generations and threat for national security.
Re: Re: Modi bin Tughlaq
by piri on Oct 07, 2017 05:30 PM
First, India needs to get rid of grinding poverty and associated ills such as open defecation !
North India is the open defecation capital of the world !
North Indians need to be less foolish in their understanding of what development is !
Otherwise, they will continue to live in grinding poverty and defecate in the open and will continue to lack even the basic levels of hygiene required for human beings !
Re: no
by Sahoo Dhruba on Oct 06, 2017 05:23 PM
Make Rahul as PM, you will see all problem solved. Even though GDP will come to 0.75% but still it is good for India , as per past 60 years records.
