Company owners run away with unpaid wages, providend fund, gratuties, they collect money for pensions, but don't pay but close down the factory and go away. If the workers then strike, it is the fault of the workers. Indian high growth rates are mirage, only a few sectors in few cities are doing well. Real estate business is doing well. But everything else is doing badly. People are getting evicted from farms. Where can they go when there is no jobs available. In China SEZs are only for foreign companies who have to export everything they produce. In India SEZs are for Reliance, Tata, Birla to exploit the farmers, avoid taxes and avoid paying back bank loans. Captains of indian industries are big thieves----they have stolen more than 150,000 Crores of Rupees from the banks, i.e., run away without paying their loans back but they still receive more loans. This is India where a future President is also a loan defaulter, so is the current finance minister.
We are again & again taking about corruption, quota, total dependency on agriculture, late industrialization, closed economy until 90, etc., these are PAST SINS...these are required to know where went wrong. How to correct these and bring prosperity to India?
ONLY way out is we need money to invest in infrastructure, education, health care, etc., Where to mobilize money ?? Here are some ideas.. 1. Reduce taxes by half so that corruption and greed disappear (it is not easy as said.. still we can try!!). Once the system is used to pay taxes, u can increase taxes!
2. Issue patriotic bonds thru banks to mop up huge un-accounted GOLD. (I read somewhere we have 40k Tonnes of Gold of which less than 10% is with Govt and balance with public.) If u pay 3 to 5% interest on half of mkt value of gold u posses, there will be huge collections. I dont how much $$ will this be...
3. Use foreign currency reserves to invest in infrastructure (already happening in very small scale). RBI fears this will trigger inflation...this is a short term fear...but long term benefits are huge if done along with lower taxes and other points
4. Bring metro land and other areas land under demat or secrutization scheme and allow for trading. Then, u know mkt rate of land for our poor infrastructure...land prices will come down, black money will disappear (since holdings are transparent, etc.,). fyi: I remember how in 90's many share brokers were defaulted becoz of default, fake shares,
no need to think so much...just put money to reduce the population by giving huge tax benefits..and reform the educational system...thats it...samjo india is number one in the world...number one happy people in the world..
RE:India and manufacturing
by b d on Jul 04, 2007 08:19 AM Permalink
If we have to make comparison with China than following critical factors needs to be consider.
- Chinese government provides electricity at very cheap rates compared to electricity rates in India. - Financial loans are available at very competitive rates. -China doesn't have democracy hence policy related decision are executed without any major obstacles and quickly.
Ultimately production cost comes down drastically.
The major overhaul if at all we need to improve India is about agriculture. India was and is an agrarian country. The article is well-written but it fails to answer a few questions: If India has to adopt manufacturing to come to the centrestage of the world, what are we going to do with agriculture? 70% of Indians derive their livelihood directly from agriculture. When India will embrace manufacturing, what will happen to them? Today, we are not self-sufficient in food. With emphasis on manufacturing and neglect of agriculture, we will create a massive socio-economic problem. It will uproot the farmers from agriculture as land will be required for setting up plants. It will 'rape' fertile lands and drive away the farmers as it happened in Nandigram. These farmers will not be absorbed by manufacturing as they are unskilled. So, they will migrate to the cities. Our cities which are already choking due to unplanned growth, will choke further. Manufacturing will cause India's GDP growth but it will fail to create jobs as the service sector can create. In fact, it will cause environmental damage in the name of development. People see China as a success story. Hundred years from now, when the environmental damages of that will come forward, the world will realize the flaws in the Chinese model. The excessive governmental control over media in China has always hidden the actual costs of development. We should not insist development at any cost. At the end, we may end up with loss.
RE:Wake Up India! Time is running out!
by Ramu on Jul 04, 2007 12:57 AM Permalink
Omkar, what else you expect from govt on agriculture. Farmers have no income tax,subsidised fertilizers & power(supposedly free in some states) and seeds. Then they have loans which are often waved. Govt has built so many damns, irrigation projects putting thousands of crores of money. How govt got this money, by taxing the employees and businesses. When they commit suicide, Govt gives them exgratia too.What else you want to give to these people?salary?
A country of 1 billion people will not become a developed country unless we industrialise rapidly.Look at all the developed countries, they became rich because of industry and technology not by Agriculture.
Most of the times Agriculture is like gambling which bets heavily on the Rain.
Ofcourse I am not against Agriculture. We should be completely self sufficient and in the future too. At the same time its sad to see even with most fertile land in the world and so many people working in this sector we are not fully self sufficient.
RE:Wake Up India! Time is running out!
by Ramu on Jul 04, 2007 01:00 AM Permalink
Hardly 5% of the population works in service sector and you know its contribution to GDP?It is 50%.
RE:Wake Up India! Time is running out!
by Komaragiri Ramana Rao on Jul 04, 2007 02:06 AM Permalink
What are major obstacles which prevent development of India ? In my opinion and 50 years of experience in India, they are 1) All pervading and deep rooted corruption. 2) Communist ideals " I do not work; I do not allow others to work" I have no duty, no responsibility, no accountability; I want all benefits from Government or employer as a matter of birth right, irrespective of performance, quality, turn-over or profits. 3) Politicians are all goondas, thugs, and trouble shooters; they are the main negative force for development of the nation. 4)Reservation Policy which puts merit and efficiency in grave; it puts crown on lethargy, incapability and inefficiency. If these continue, India can not become a great and really developed nation even after 50 or 100 years. Self pity and self-praise, both are useless and lead us no-where. It is necessary India sincerely follows examples of Japan and Singapore and learn how they strived for development during 1950-2000 period, and achieved develpment.
RE:Wake Up India! Time is running out!
by Ramu on Jul 04, 2007 02:28 AM Permalink
Very valid points. Nobody talks about points 2&4 openly. No movies made on this subjetcs..
A petition to the President of India , on reforms in Electoral Process and right to participate in Presidential Elections for the public
Jai Hind Fellow Indians!
As the nation is heading towards the next Presidential Elections, we all look forward to have A Great President India could be proud of. Dreams India created an online petition for the current President of India Hon'ble Dr. A.P.J. Abdul Kalam, pleading for reforms in electoral process. The online petition is available at:
Please sign this petition and express your concern for the nation.
Join Mission Dreams India - A Battle for A Better System. To know more about Dreams India, please visit http://dreamsindia.com and http://voice.dreamsindia.com Subscribe Dreams India notifications at http://dreamsindia.com/lists/?p=subscribe&id=1
Jai Hind!
P.S.: Please forward this message to your friends!
Come to think of it, the only hope for change can thru a new political initiative. Every problem that India faces can only be solved by a new political initiative. Nothing else will work.
RE:The only option
by Ashok Khurana on Jul 03, 2007 11:05 PM Permalink
Let us join that new political revolution:
A petition to the President of India , on reforms in Electoral Process and right to participate in Presidential Elections for the public
Jai Hind Fellow Indians!
As the nation is heading towards the next Presidential Elections, we all look forward to have A Great President India could be proud of. Dreams India created an online petition for the current President of India Hon'ble Dr. A.P.J. Abdul Kalam, pleading for reforms in electoral process. The online petition is available at:
Please sign this petition and express your concern for the nation.
Join Mission Dreams India - A Battle for A Better System. To know more about Dreams India, please visit http://dreamsindia.com and http://voice.dreamsindia.com Subscribe Dreams India notifications at http://dreamsindia.com/lists/?p=subscribe&id=1
Jai Hind!
P.S.: Please forward this message to your friends!
Borrowing lines from Bernard Shaw,One can say that every Indian profession, legal, journalistic, political, medical,IT, administrative,engineering,and so on is a conspiracy against the other group,as well as against the layman.
It is a Great Mystery that we are still able to breathe fresh air even today,despite all this maniacal cut-throatism!
The Communists will see to it that India remains poor, backward and underdeveloped - it's the only way they can keep their supporters and their relevance - that's why they have fought tooth and nail to kill any and all reforms: economic reforms, education reforms, land reforms, labor reforms, police reforms, constitutional reforms, judicial reforms, etc., etc., etc. Worse, the people have become so used to corruption in every facet of their daily life that corruption is now seen as an essential commodity, like food, and have come to accept it as such - normal part of living. Yes, corruption is the norm. And without corruption, there would be anarchy and the country would implode, self-destruct - the bewildered masses wouldn't know how to conduct themsleves in a non-corrupt way and run around thrashing about like chickens with their heads cut off. As for governance, it's not part of this fetid nation's lexicon, just like ethics, logic, personal honor, professionalism, discipline or decorum. India's potential will be always that - potential, something which will be always at hand but always never being able to grasp.
