The challenge India faces is whether we can call a spade a spade;whether we can accept where we failed and take corrective actions and consciously inculcate sense of honesty purpose and integrity in our words and actions rather than beating around the bush ! Why not the culprits be brought to books;If we cannot dare do it we do not meet the challenge.Can the Govt. has the wherewithal to run the country without corruption of GATE KEEPERS of the Govt. as some one called them in a news paper article. In these days of computer, Excel, Tally, MS Project etc Can the Govt arrange transparency in Govt Spending and bring out the planned, achieved and variance and the reasons thereof and what next Some one had said "Good execution gets limelight to the plan" Can we execute well to let our plans glow in limelight by standing executued well and completed.R.PONNAMBALAM
The lessons from the recent developments are clear”.Our Banking Sector has failed the NATION.RBI governors had winked at banks fudging balance sheets (refer to 4th Sep 2017 Rediff site) that we are told nowadays that 8 lakh crores Rupees of unrecovered loans are there. Units like AIR INDIA were not well managed and the entire establishments had been at comfort with it.Why not compare all such things with what is happening in developed countries?” It must also keep some safety nets handy by building a diversified and efficient financial system” What safety nets and efficient?Day in day out we read in news papers that banks are not acting to recover unrecovered loans and RBI is doing this and that oh? vulnerability , volatile, contagion’ For 60 oddyears we have found no cure for all this diseases being inflicted and will not be found also.R,PONNAMBALAM
. A country which imports bolts and nut 60 years after the start of industrialization and that too from a country that started alongside us and which had leapfrogged in development and our INDIA where the RBI governors have been unmoved to the unrecovered loans to banks to build up 8 lakhs crores ie a contriburion of more than Rs,5600 at present level of population(it will be more at the population level when the loan was given) was given by each poor Indian to the kitty of the RICH 5600 has to think of workable terms not get encapsulate in fear mongering because MANUFACTURING PROCESSES WOULD BE THERE AS EVER AS THEY WERE only the CONTROLS IN MANUFACTURING , LOGISTICS can get impacted by I.T. With all the transformation in IT sector what high end engineered and manufactured items we export ?R,PONNAMBALAM
Domestic savings -- important for development. -- the scarcity of domestic capital is no longer a binding constraint.What is the level of wages at various tiers to have good domestic savings ;the wages are not enough meet day to day expenses for 70 % of the people. What saving can be there in a country? Here the top 10 percent controlled about 74 percent of wealth. The poorest 30 percent, meanwhile, had just 1.4 percent of the total wealth,"as quoted in a speech by ex. V.P, quoting Credit Suisse. “A crisis in any one country -- can be transmitted to other countries -- including countries that may not have any strong economic linkages with crisis-affected countries.”Crisis due to which can be transmitted and what cannot be transmitted must be known ,told and taken care of by the country. Another consequence of recent global trends is the greater vulnerability of national economies to developments outside their own borders.How they get vulnerables;how to stall that. These are not one shot affair ,Our ECONOMICS ESTABLISHMENT MUST BE AWARE OF IT and doing something .has it done or failed ?Fear mongering is of no use. A country which imports bolts and nut 60 years after the start of industrialization and that too from a country that started alongside us and which had leapfrogged in development and our INDIA where the RBI governors have been unmoved to the unrecovered loans to banks to build up 8 lakhs crores ie a contriburion of more than Rs,5600
Legal implications have increased the miseries of small traders and SMEs. Modi is to take urgent steps to correct it. Jaitely cannot do it due to his arrogance and legal minded approach.
