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India needs AT LEAST 8% real GDP growth to become a viable stable economy, where poverty is finally eradicated......after 70-80 years of "independence'????.
How to achieve this?
1. Get rid of laws, red tape, colonial and post Colonial suspicious of business laws......just abolish them.
2. Fight corruption seriously. Lets give capital punishment for corruption...especially with big cases, involving government workers. That will change things.
3. Streamline the taxation system, so that more revenue is generated for the government. Maybe of India's PPP GDP of $5 trillion, the government only taxes 9/10% of that?
4. Once the government has more revenue, direct it specifically to INDUSTRY and INFRASTRUCTURE, two sectors of the economy which do not create inflation, but do provide jobs to the newer generations, makes the country wealthy, makes the country technically more advanced, makes the country more beautiful.......and spreads wealth to ALL classes....The CHINA TRICK/SECRET for 34 steady years.......started by the great pragmatists from Manchuria, and who suffered under Mao's misadventures. Deng Xiaoping.
Do not be afraid to try Asian Tiger economy methods and systems......the Chinese model is good. The ONLY thing India lacks is the administrative efficiency, BUT India can teach itself in this area. India has world class capable people, in taxation systems, strategic investment and public administration. What needs to be got rid of is the Colonial mentality of looking in the wrong direction.5. Don't waste money on gimmick politics which give money/sops to the Neta/babus MAFIA and not the people, and White elephant projects like stealth submarines and Nuclear aircraft carriers. It is an absolute waste of money for a country with so much OTHER essential needs.....AND for a land power which faces threats in the mountains.........READ THE OMENS.
India's success is staring at it in the north/NE, AND THIS MODEL OF GROWTH IS VERY IMPORTANT, if the USA economy collapses in the near future.
There were 3 friends....one a Hindu, one a Mussalman, and one a Sikh......and then..
This trick applies to ALL South Asia.
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India can't afford to grow at less than 8%: Chidambaram
By Times of India.
India cannot afford to grow at less than 8 percent per year and needs more reforms to revive growth, finance minister P Chidambaram told parliament on Tuesday during a debate on the state of the country's economy.
Asia's third-largest economy has struggled to lift itself out the worst economic slump in a decade. The government is trying to introduce a slew of reforms, including freeing up foreign investment in the insurance, pension and defence sectors, and simplifying tax laws to spur investment.
India cannot afford to grow at less than 8 percent per year and needs more reforms to revive growth, finance minister P Chidambaram told parliament on Tuesday during a debate on the state of the country's economy.
Asia's third-largest economy has struggled to lift itself out the worst economic slump in a decade. The government is trying to introduce a slew of reforms, including freeing up foreign investment in the insurance, pension and defence sectors, and simplifying tax laws to spur investment.
Asia's third-largest economy has struggled to lift itself out the worst economic slump in a decade. The government is trying to introduce a slew of reforms, including freeing up foreign investment in the insurance, pension and defence sectors, and simplifying tax laws to spur investment.
