Dear Shri Jaitleyji :
Over the past few weeks , media ( offline and online ) is full of
reports on the slowing down of the economy ( GDP dropping to 5.7 % )
Over the last two days , you have held
several meetings with your colleagues ( Ministers / Secretaries / Economic
Advisors )
Then yesterday, in a press conference, you said :
“ We have noted all economic indicators and decided on a slew of
measures to boost the economy , which will be announced after consulting the PM
“
Here are my suggestions :
=======================================================
TAXATION
:
Newspapers say that you are NOT in favour of giving relaxations in
taxes ( Individual and / or , Corporate ? ) , to stimulate the economy
Despite your well-known views on the matter of taxation , I urge
you to , consider my following suggestions :
CreateWealth to Create Jobs [ 26
Feb 2014 ]
Structural Reforms [ 30
Jan 2016 ]
But , if you are not in a position to raise taxes ( for Infra spending by the
government ) or reduce taxes ( to stimulate Consumer spending ) , then the only way out is :
Howto raise $ 500 Billion [ 17
Sept 2017 ]
=======================================================
FUNDS FOR
INFRASTRUCTURE :
In another blog, I estimated that we need Rs 430 lakh*crore for funding our
Infrastructure projects , and said :
“ Union Government must NOT even try to fund
these projects !
There is NO WAY , it can find these kind of money through taxation !
There will be a revolt ! “
Don’t Ask ,How ? [ 07 April 2014 ]
=============================================================================
EXPORTS
:
As per recent notification of the
World Trade Organization ( WTO
) , India can no longer offer Export Subsidies , as our per capita Gross
National Income ( GNI ) , has crossed $ 1,000 for the third year in a row
This will require withdrawal of MEIS ( Merchandise Export from India Scheme ) , which
provides a direct subsidy to exporters based on the value of exports
This scheme cover 7,000 items and costs the exchequer around Rs 23,500 crore a year
I suggest following :
# Allow MSME Exporters to engage TRAINEES ( under
the Apprentice Act ) , up to 25
%
of their current employee-strength
#
Increase training duration to 4 years , without obligation for “ absorbing “
# Let the central government
subsidize 75 % of the
monthly stipend paid to trainees
( indirectly subsidizing the
exporters from that Rs 23,500 crore saved – without
violating our WTO
obligations )
=======================================================
HOW TO
MAKE INDIA , “ LOW COST
ECONOMY “ ? :
Our ultimate
survival ( in a “ Dog Eat
Dog World “ ) , will solely depend upon making our Economy , a “ Low Cost Economy “ , vis-à-vis
rest of the World
There is only ONE WAY to achieve this , as described below :
Howto break the Vicious Circle ? [ 03
July 2016 ]
=======================================================
Dear
Shri Jaitleyji :
My only request is that even as you are
consulting the Experts ( on how to boost the Economy ) , please also ask a few ORDINARY CITIZENS for
their views !
21
Sept 2017
www.hemenparekh.in
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