Of late , there has been a lot of debate on TV / Newspapers etc , on ,
> What has caused current economic crisis
> What needs to be done
> Who is to blame
The crisis manifests itself thru ,
> Falling Stock Index
> Weakening Rupee
> Increasing Imports
> Decreasing Exports
> Widening CAD / Fiscal Deficit
> Sliding Industrial Production
> Falling GDP
> Rising Unemployment ...... etc
Economists ( experts and otherwise ) are offering all kinds of solutions - often contradictory
Only thing , they all seem to agree upon is that , current Central Government , is largely to be blamed for the current mess !
I am not an economist and unable to offer " Expert Solution "
But I do have following simple , non-expert solution :
" Through " No Questions Asked " , appropriate Amnesty Schemes , enable trillions of Black Money rupees to come out in the open , to fund the Infrastructure projects "
Our Government estimates that we need to pump in , every year , $ 100 Billions , for the next 10 years , into infrastructure development , ie , $ 1,000 billions
Our Commerce Minister , Anand Sharma , estimates that the Indians are hoarding 31,000 tons of Gold ( equivalent of $ 1,400 billions )
Given our current economic climate , I dont expect any foreign individuals / companies / financial institutions etc to come forward to invest such funds into India
What is worse , I expect , once again in 2014 , a " Coalition Government " to rule the Centre - fully paralysed by its Coalition Dharma and incapable of taking tough decisions !
Apart from that $ 1,400 billion worth of gold , it would be safe to assume that another $ 14,000 billion worth of cash Black Money is also lying locked up in Safe Deposit Vaults of Businessmen / Politicians and Government Officers !
Grant them amnesty and a 10 % ( non - taxable ) return on such Infrastructure investments for a period of 10 years , and we won't need any foreign exchange inflow !
Some will argue :
You will be punishing honest tax-payers and rewarding the cheats !
True
But , in my opinion , this is the only practical / viable solution , in short term
And , if incorporated in the Feb 2014 budget , it will get approved unanimously !
If those " Cheats " can help create 100 million jobs in 10 years , forgive them for their dis-honesty !
It is high time we did some " Out - of - the - Box " thinking !
Morality of creating jobs today , far outweighs the immorality of tax-evason in the past !
-- hemen
> What has caused current economic crisis
> What needs to be done
> Who is to blame
The crisis manifests itself thru ,
> Falling Stock Index
> Weakening Rupee
> Increasing Imports
> Decreasing Exports
> Widening CAD / Fiscal Deficit
> Sliding Industrial Production
> Falling GDP
> Rising Unemployment ...... etc
Economists ( experts and otherwise ) are offering all kinds of solutions - often contradictory
Only thing , they all seem to agree upon is that , current Central Government , is largely to be blamed for the current mess !
I am not an economist and unable to offer " Expert Solution "
But I do have following simple , non-expert solution :
" Through " No Questions Asked " , appropriate Amnesty Schemes , enable trillions of Black Money rupees to come out in the open , to fund the Infrastructure projects "
Our Government estimates that we need to pump in , every year , $ 100 Billions , for the next 10 years , into infrastructure development , ie , $ 1,000 billions
Our Commerce Minister , Anand Sharma , estimates that the Indians are hoarding 31,000 tons of Gold ( equivalent of $ 1,400 billions )
Given our current economic climate , I dont expect any foreign individuals / companies / financial institutions etc to come forward to invest such funds into India
What is worse , I expect , once again in 2014 , a " Coalition Government " to rule the Centre - fully paralysed by its Coalition Dharma and incapable of taking tough decisions !
Apart from that $ 1,400 billion worth of gold , it would be safe to assume that another $ 14,000 billion worth of cash Black Money is also lying locked up in Safe Deposit Vaults of Businessmen / Politicians and Government Officers !
Grant them amnesty and a 10 % ( non - taxable ) return on such Infrastructure investments for a period of 10 years , and we won't need any foreign exchange inflow !
Some will argue :
You will be punishing honest tax-payers and rewarding the cheats !
True
But , in my opinion , this is the only practical / viable solution , in short term
And , if incorporated in the Feb 2014 budget , it will get approved unanimously !
If those " Cheats " can help create 100 million jobs in 10 years , forgive them for their dis-honesty !
It is high time we did some " Out - of - the - Box " thinking !
Morality of creating jobs today , far outweighs the immorality of tax-evason in the past !
-- hemen
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