Economy survey said that a no. of indicators - GDP , IIP , Credit , investment & capacity utilization point to deceleration of real activity since first qtr. of 2016 - 17 . Cheap oil & continuous tax hikes were put in to vote - winning populist schemes instead of stimulating growth.
The excise duty hike resulted in Govt. mop - up more than double to Rs 2.76 lakh crores in 2016 - 17 from 99000 crores in 2014 - 15. Oil prices are highest in the region. Crude prices were USD 140 / barrel in 2008 & to - day this has come down to USD 55 / barrel but in spite of this sharp reduction , retail oil prices are still 40 % higher than in yr. 2008. Where this huge money to the tune of 2.67 lakh crores /yr is going ? Thousand of children are dying for lack of oxygen & medical care, train travel is still an ordeal & getting expensive , unsafe in bargain . Farmers commit suicide, unemployment , poverty & other daily deprivations stare us in the face. I feel millions of Indians who overwhelmingly supported the present Govt. to come to power must be disappointed to see euphoria & self - accolades the present dispensation is exhibiting even after letting down the voters.
Modi govt is making a heroic effort to correct the ills of freebies as has been practiced since Nehru times but without much success as is being experienced with giveaways like one rank one pension, farm loan waivers, pay commission etc. Only success noted is big businesses being made to belch out the bank money, eg. Ruias having to sell Essar oil. Though hard but steps have to be taken to rein in wasteful govt spending and salaries. UPA govt started right to education but did nothing to discipline the teachers whose absentee rate is better than 25%. They started food security but could not prevent theft of grains by traders in collusion with officials. Most unfortunate aspect relates to military hardware. DRDO consumes 20000 chores every year and has been producing materials like Insas guns and shaktimaan trucks which are worthless by world standards. Every free spending policy of UPA resulted in scams which could have saved at least Rs.150,000 crores per year for developmental purposes. But Mr.Modi missed the bus in very first year. For any new government ,first six months is the best period for it usher in changes and also of course reforms. Unfortunately he did not and what we see today is the country again kind of having got entangled in tentacles of samajwad and Swadeshi.
No doubt it is in bad shape, barring for politicians and govt. servants who get every month enhanced pay due to DA linked pay, perqs. and pension. This is biggest liability govt. has in its budget. Notebandi has slowed down the growth as 2-3 years time will be taken to convert business black into white. But GST has broken the SMEs. and small traders due to high confusion and impractical compliance. FM must take its full responsibility as his vision is only legal not practical. Sooner the correction is taken better for BJP.
This govt is doing its best, implementing, demonetization to stop black money horders, Gst etc there will be temporary set back to revamp the economy,after all we indians businessman had the habits of tax evasion system, and its really shocking to all businessman, traders those who has never ever submitted any return with tax in last 70 yrs has to redefine his workings Boss temporary impact will be there
Re: Govt Doing its best
by B B Sharma on Oct 08, 2017 01:07 PM
What is temporary , Govt. is in power for almost 4 years. They must show some concrete positive results . Euphoria & self - accolades would not let them through in next election just by way of litany of promises & expression of resolve.
This govt is doing its best, implementing, demonetization to stop black money horders, Gst etc there will be temporary set back to revamp the economy,after all we indians businessman had the habits of tax evasion system, and its really shocking to all businessman, traders those who has never ever submitted any return with tax in last 70 yrs has to redefine his workings Boss temporary impact will be there
This govt is doing its best, implementing, demonetization to stop black money horders, Gst etc there will be temporary set back to revamp the economy,after all we indians businessman had the habits of tax evasion system, and its really shocking to all businessman, traders those who has never ever submitted any return with tax in last 70 yrs has to redefine his workings Boss temporary impact will be there
This govt is doing its best, implementing, demonetization to stop black money horders, Gst etc there will be temporary set back to revamp the economy,after all we indians businessman had the habits of tax evasion system, and its really shocking to all businessman, traders those who has never ever submitted any return with tax in last 70 yrs has to redefine his workings Boss temporary impact will be there
This govt is doing its best, implementing, demonetization to stop black money horders, Gst etc there will be temporary set back to revamp the economy,after all we indians businessman had the habits of tax evasion system, and its really shocking to all businessman, traders those who has never ever submitted any return with tax in last 70 yrs has to redefine his workings Boss temporary impact will be there
