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After seeing the spirit of sharing the information to be Indian and buy Indian which was the mantra during our first independence, I felt now the time is ripe for launching the same movement in India to Be Indian and Buy Indian to revive our lost glory and economy. Let me share some thoughts with all of you..
1. Buying Indian products by people will immediatly stablise our economy at the same time respecting productive sector by govt and relaxing NPA norms and extending credit to save millions of SSI and SME is a must at this point and launch mission mode programme for restructuring and technology up gradation to increase the manufacturing contribution to 25%..
2. Announcing ethanol policy from 10% to 50% by govt and incentive to farmers to adopt SSI method,and automobile sector to be mandated to upgrade for ethanol usage will revive Indian economy and reduce our oil bill.
3. Immediately lift the ban on coal mines closed under scam while the trail for scams proceeds on fast track.
4. Increase the saving interest rate for fixed deposits and attract people to have fixed deposit to raise the Savings.
5. Focus on agriculture, Agro food processing and encourage related industries and service sector by infusing Agro infrastructure by govt in the long term perspective is essential and also implement smart water ways to store the flood water should be made as a priority infrastructure spending..
6. Change the mind set of controlling the private productive sector to facilate their growth by innovative inclusive policy instead of extrative policies .
7. Energy independence policy and creating high tension power grid connecting the nation like golden quadrilateral is the need of the hour. .
8. Creating a investment oriented climate with the high Ease of Doing business index in the country to attact FDI and also empowering Indians to compete locally and globally and make the farmers as partners for their land in large public and private infrastructure products. Even the latest land acquisition bill is inadequate and lack of empowering the farmers to contribute. .
When the govt failed to provide proper compensation to Bhopal victims, Dam construction resettlement, road construction resettlement, and other SEZ resettlement how can we expect the people will volunetarily give their land for FDI, mining and infrastructure development and why should they accept the projects. Why the leaders are not willing to make them as partners in infrastructure projects and give dividends in large mining and other productive sector projects. .
9. Reduce expenditure spending and subsidy instead focus on infrastructure spending and create value added employment to Indians with skill development as focus .
10. Convert 50% teaching institutions into Research institutions tieing up with industry based on core competence to design and develop systems and products for meeting the challenges of one billion people of india .
As per 12th plan document, 1 crore investment in building Agro and food processing industry it generates 30 direct employment and generate equivalent amount of indirect employment. Take for example, in chennai automobile hub, we have IT hub, large lands were acquired to create SEZ, assume if the investment to the tune of 100000 lakh crore in the automobile assembling plant then it should have generated at least 10 lakh value added employment to the 10th, +2, diploma holders and BE and other graduates. Did they get this much employment is a question. .
Instead of spending 180000 crores in NREGA during 11th plan if the govt spent this amount in building Agro food processing Eco system it would have created a permanent employment to 60 lakh employment to youth and people and more than 1 core sustained employment to people who are living below poverty line. It has not happened. Yesterday's PM speech in parliament on economic crisis, he said subsidy has not reached people. How many PMs and FMs will keep saying this? Why they could not bring reforms to alleviate and improve the governance deficit and increase the confidence of the people. .
If we could have done this from 1991 to now, india would have managed the global economic crisis well and at the same time a investment heaven for the world Investors. Our policies and economic reforms adopted since 1991, has opened up and led to growth, but the administrative setup has not changed and they continue to enact extractive policies which made our economy non sustainable starting with 5% to 6-7-8-8-9-9-7-6-5-3 now 3 in 2013, closed down many SME and SSI units, made non favourable climate to Indian industry in productive sector to get collapsed and sink and finally get defaulted and collapse so that they can import more from china and other western countries, ensured no river connectivity terming it is not viable and non taker and not created irrigation infrastructure, and destroyed the manufacturing sector and agriculture sector and concentrated only on service sector for white colle job. .
So these extractive policies broken the core competence of india and made us consumer economy rather than producer economy. How can we expect a export will go up. Since 2004 to 2012 the export growth is 360% where as import is 480%. This itself clearly shows that our economic reforms have not empowered Indians rather made us dependent economy due to the prevailing extractive policies, income tax laws and other banking policies. .
Until unless we change these policies and remove controls and bring facilitation, remove monitoring and bring encouraging performance by innovative support policies for the 3 sectors of the economy it will be very difficult to bring down trade deficit, there by current account deficit, inflation and finally common man is affected in all respect and happy to expect our FMs announcing soap for income tax relief every year and cut down tax for soap, comb and other consumer items and vijay end up buying these things from china and happy to live with direct money transfer schemes. .
Will our leaders and future leaders of the nation emerge to change the present extractive policies into inclusive policy for sustained growth. That is the question. Will the political parties announce this policy change in their election manifesto? Will our people under stand and vote on this respect? Will our middle class and higher income group will go to voting based in these agenda? Will all our face book and Internet savy friends go for voting on these agenda and elect the right people to lead the nation in the. 2014 lokshaba elections. .
If all these things happens, India will become developed nation before 2020 and will lead the world in economy and first in the BRICS country relegating other counties contributing to the world economy before 2030 and restore the glory of india achieved in 17th century. .
Wish you all the best. Greetings and best wishes to every Indian to think and vote. .
V Ponraj 31 Aug 2013 written during my flight from delhi to madurai..
Courtesy: FaceBook, Purdsifm, Lankasrifm, Hindu, DinaMani, DinaKaran and many other Websites