This blog is not a political statement.
Wishing people / society moves from scarcity to abundance
Way
back in 2017, I raised question mark on “Aache din” / “Big bang
changes” promised made by Modi during
in 2014 election. I put question mark on actions / work done by Modi
during year 2014-17.
So
called “blind bhakt” did not like it
and apparently unsubscribe my page without reading blog. Reality
check : GDP of
India has
taken a
hit over
a period.
Below
is link of 2017 blog
Indian
government has worked against India (Indian business)
Modi
got economy with GDP of 7% in 2014, which come down to or below 5% in
2019. No one come forward to take credit for it or analysed what went
wrong, and how things can be improved
Modi
called himself “pradhan sevak” of people at the time of winning
election. But after winning election. Modi take action against /
oppose Indian business.
Reality
is people trust Modi but Modi did not trust people
People
shown blind faith in Modi by
:
standing in queue for money during demonetisation
:
ring the bell / thali in evening 5 o clock
:
lighting diya in balcony at 9
o clock
Things
would have been different had government walked
along with Indian business to take India forward. Reality is Modi had
been unfaithful to Indian business.
I
mentioned about corruption and black money in 2017 blog
When
Britisher left India, how much “black money” India had? I heard
from elder (generation) people, there was time in India, if some one
has to earn money, it was in black, citing reason of hyper tax rate /
harassment
At
the time of demonetisation, initial estimate was say 3 to 5 lac crore
money will not come back. Modi was fearful of consequences (thereby
allowing to deposit 2 lac / per person and no question asked) and
people were enough smart.
In
country where people do puja of Goddess Lakshmi, people got almost
all 15 lac crore converted in white. People respected Mody by
peacefully standing in queue but probably shown more respect towards
Goddess Lakshmi
What
Modi achieved is a blow to economy especially MSME.
Things
would have been different, had Modi
:
Given respect to India / Indian people / Indian business
:
Talked with people / got feedback from people (reason for doing
business in black money)
:
Work / acted / pacified their difficulties / concerns
“Ease
of doing business” would have become reality
Modi
hurt economy second time with “the way” GST implemented.
If
you hear FM speech in Loksabha / Rajya sabha, it was in the same in
tone Modi given speech at the time of demonetisation. Both did not
trust Indian business and gone ahead to bring down Indian business
GST
was good in concept, a single law / tax, removing anomalies /
difficulty to follow multiple tax regime. It was seen in other
countries, when GST gets implemented, GDP shows half a percent or
more growth.
In
India post GST
implementation, GDP was flat
and then went
down
GST
implemented in India year 2017.
In
year 2019 Nirmala made statement,
:
Why GST people/ CBIC are holding refund
:
When GST system is online, why GST people/ CBIC keep asking
repeatedly information to process refund
Apparently
finance minister got frustrated with GST people/ CBIC
If
we are using say computer / laptop / mobile we expect operating
system runs smoothly, but “the way” GST implementation was
poor, leading damage to economy
GDP
did not come down due to demonetisation or GST, it come down due to
least attention / not handling IL&FS 100,000
crore issue on fire fighting mode, taking it lightly
If
you don’t believe it just co-relate pre
and post timing of IL&FS
event with GDP / Business in India.
IL&FS
fiasco did not come in media / discussed at large in media as
demonetisation or GST got highlighted
Around
Aug-2018, IL&FS said it did not have enough capital / money to
repay 100,0000 crore loan it had taken.
Amount
of Rs 100,0000 crore loan was
big. Once
news come, all financial intermediary were / holding hand/ reluctant
to lend. Views was DHFL / Yes Bank and even Indianbulls is seen as
next likely defaulting entity. It was economic
turmoil. Number of names come forward. Business
also started holding
protecting capital
/ money flow/ payment leading
money rotation
got reduced in economy.
GDP which
was growing at
7%, come down to or below 5%
in 2019. Things would have been different had quick action &
resolution found in 2018
itself.
In
2009 the way Satyam computer issue was handled, IL&FS should have
been resolved by end of 2018 itself. It is expected to resolved in
July-2020
Also
like to
mention India Inc does not
strongly believe in Audited numbers. There is need to improve
governance / audit framework / transparency system in audit.
Since
appointment of Nirmala
Sitaraman as Finance
Minister, we keep we had
appreciating her and here
is reason for it.
In
Aug 2019 We mentioned in
Facebook
page,
“Unprecedented,
genuine extraordinary move & response by FM Nirmala Sitharaman
(Unlike any other past FM)
Keeping
foot down while being ground to earth & ready to listen, FM
Nirmala Sitharaman has taken number of measure that should result in
boosting sentiment and business too
Also
there will be two more announcements in next week
....finger
crossed :D
Hope
stock market will bottom out soon
Thumps
up & Cheers
Wish
to mention FM Nirmala Sitharaman was considerate to take more
questions in press conference ;)
Many
many congratulations, thanks & love”
Over
a period, few appreciation post mentioned on Facebook & Twitter
Since
1994, I am observing stock market / indian business / economy. I
have seen number of finance minister / budget / policy / business
cycle. I have not seen any past FM travelling
to number of city to meet people
/ listening to problems
/ issue / concern, and solving it
Around
same time in 2019, we saw
:
lots of amendments to companies act to decriminalise offences
:
Reducing corporate income tax rates
:
Creating conducive investment environment
:
Vivad se vishwas scheme
In
past Facebook post, we said She is darling of stock market, today in blog I am
mentioning her as Rising
Star.
It
was her bad luck that she got falling economy at 5% in bad shape
followed by CORONA / COVID-19
Off
course we can’t believe in political person. In past FM P.
Chidambaram had given dream budget, In 1991 FM Manmohan Singh saved
Indian economy by liberalisation. But afterwords they given political
budget and changed approach towards economy
I
take this blog as opportunity to appreciate Raghuram Rajan, an
outspoken personality, who
joined in turbulent economic environment, taking bold steps and leaving behind
a credible & fastest
growing economy with low inflation
Both
Raghuram Rajan and Urjit Patel resigned from post due to aggression of Modi
Modi
can’t manage economy well,
leading to higher budget
deficit. It
was inappropriate and disgraceful for Modi to “change in
accounting policy
/ method” at RBI, to get
more dividend money. May be we or our future generation at some point
will have to pay
price for “change in
accounting policy
/ method” at RBI.
I
would also like
to appreciate Sushma Swaraj. She
was available to help Indian people
in any part / corner of
world on single tweet request.
I guess She played
important role in “Operation Rahat” (not made much headline in
Indian media) Hope sometime
in future Akshay Kumar act in
movie based on this event :D
Also
appreciation
to Manohar Parrikar. I have not read much about him but holding great
respect for simplicity and caliber
I
have seen interviews of Krishnamurthy Subramanian Chief Economic
Adviser, people from NITI Aayog, various secretaries
and even Piyush Goyal. All
these
people talks
about typical theoretical /
bookish concepts which are already known to people since many years.
There is no out of box thinking / transformational policy measures.
Apparently they are after media fame / glow
and nothing more.
In
past blog I mentioned about “Make In India By Foreign Investment vs
Make In India With Indian money”
Modi
work only in
direction to get foreign investment in manufacturing, which
lead to minimal success.
Rather than going after Indian business had Modi given red carpet
welcome to Indian business to invest in Indian
growth story, Indian
GDP would have been near
double digit growth
Modi
followed appeasement cum slavery policy towards Indian
farmers by loan waiver. Also before election made payment of Rs 6000 to
every farmer. Apparently it seems like officially vote for money.
Atal Bihari Vajpayee was a visionary leader. He had plans of project
for interconnecting rivers
across India and
creating water
canal flow across
India. Subsequent government did not follow this projects. It’s
pity to see that even after 70 years of independence, farmers are not
self sufficient. Wish
we can provide 24/7, 12 month abundance
water and electricity supply
to farm land and
use “Amul dairy development” kind
of model to sell farm produce. May be I am day dreaming ;)
How
many people think that if Modi is working for
16 hours a day is good for
India?
Is
it emotional touchy?
If
person works for 16 hours a day (for
number of years), can he take
best outstanding
/ strategic decisions?
Can
a person be happy if he works for
16 hours a day? Or
is sacrificing
life?
Can
a happy person take better decision?
Can
PM spend relax day and work for just few hours?
Can
India move forward if one person works for 16+
hours a
day?
Will
India grow better if 130 crore people work for
8 / 12+ hours and PM overview
things for
few hours and spend time in taking
outstanding quality decisions?
Don’t
you think there should be too much work / abundance of jobs /
scarcity of workers – people forjob
in India?
Reality
is large part of working demographics / adults
spends time on unproductive TicTok
Modi
divided India in two parts
:
Those who favour Modi
:
Those who oppose Modi
Indian
people spend time on Twitter / Facebook / personal interaction in fighting with each other / appreciating Modi, rather than creating something
meaningful
Can
there be +ve as well as -ve side of person / decision / action?
Do
we need only one person leading India / one man show or there should
be group of people taking India forward?
I
don’t like to write blog
with criticism. Wish
this is my
last criticism
blog in this life :D. Hope
to write positive and inspiring blogs in future
Wishing
people / society moves from scarcity to abundance
Good
wishes
Jai
Hind !!
