How to Boost
Economy
===========
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 suggestion :
Create
Wealth 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 :
How
to 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 ! “
=============================================================================
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 :
How
to 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
/ blogs
With Regards,
hemen
parekh
(
M ) +91 - 98,67,55,08,08
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