Eventful Day for largest and oldest Democracies

What a eventful day for largest and oldest democracies ?

In oldest democracy people will decide what would be the future of America and how global politics and policies will effect every common concerned global citizen.

In largest democracy people before hung up their day, come with biggest Anti Corruption move by the current dispensation of Republic of India. Government of India De-monetise two largest bills from the economy 500 & 1000 INR(Rs.).

Both events have there significance and will go down in history of these democracies. Whosoever wins the American election race has to fight major challenges in coming days, out of them the most domestic significant issue is of Corruption & generating Jobs. Hillary Camp may not agree with Corruption so much as she is part of same System or legacy of Obama/Bill time period but she will agree to issue of Job Less growth. Fleeing jobs indirectly related to never ending Corporate Greed(Share Holders Greed) which fund & tinker the so called System. So corruption is main issue.

How new POTUS fix it ?

I am not here to give remedies, but can tell what is happening in India. India is a developing country, our major export is Software industry but apart from that we don't export much, if compared to China or other exporting economies like Japan etc., We do not manufacture much products for domestic consumption, except core sectors like Steel, Cement etc., so most of items we either Import or Assembles in India. Our current government is doing following in my naive understanding to correct this aspect and boost jobs which eventually grow economy:

• Boost Manufacturing by Make In India Campaign. This will make sure that ground level push to manufacturing and boost to low & mid skill based job creation.
• Invest in Public Infrastructure by spending in Rail, Roads, Metro Trains, Airports, Smart Cities, Industrial Corridors. How much these initiatives are successful only time can tell, but still Intent is present.
• Self Reliance in energy by looking forward to Renewal Energy, More Nuclear Plants & getting back on Traditional Supplies as we can't afford costly methods of latest energy sector.
• Have correct Trade Ties with all world & Check against China Dumping.
• Have long vision for Foreign Policy & good relationship with every other nation including China except Pakistan(Traditional Fight, though Modi Tried earlier).
• Insurance Policies like Health, Agriculture Insurance, etc.,
• Defense Sector new push under Make in India and allowing FDI in defense.

This make & will make India one of the fastest growing economy(largest) in world.

What India don't do, is politics of doles and unnecessary socialism. Like collect more tax from rich, have piped dream of getting more investment from current traditional Energy companies into Renewal Sector(Or so called Advanced Skills Jobs) which Democrats are tom-toming. Or introducing Medicare plans which are not sustainable. Getting more advanced high skill job creation is definitely good Idea which will work in long term but can't replace the low/mid skill manufacturing which fled America since 90's. As Democrats like it or not middle class and poor people thrive and overall economies grows, when large Manufacturing or large infrastructure projects kicks in country. See around world or in your own past America!!

Point is Outsourcing all these plants to china will only rich Chinese drop by drop. Industrial/Trade policy should be of balance not totally favored to set of countries.

Now let see how India is doing in area Anti Corruption drive in India. I agree, but not with pride that India Suffers from chronic disease of Corruption both at common man level & at highest level of government(Past), Last decade is just example of it. But since new Government take house in order, following initiatives had been taken:

• Promote UID Program(Similar to SSN). This will enable government of India to know who legal or illegal Citizen. Though it is continuous & difficult process in country of size like India.
• Promote Banking and get every legal earning citizen into modern Banking System, also referred as Financial Inclusion System.
• Turn governance to Digital Governance which is transparent and accessible to All.
• Launch Semi Amnesty Policy to get corrupt or otherwise careless people of past to declare there black money and enter into honest tax payer pool.

But whatever government do it is only able to better its position by 9 points in Global Corruption Index. Today India Announced major step towards this drive by De-Monitise the largest bill. People might be thinking why they do it ?

Most Transactions in India is done on Cash regardless it is small, large, legal or illegal which make very difficult for tax collector to track the black money. Just to give few problems:

• Only 17% of GDP is collected as Tax Revenue. India stands in bottom 20 in the list of tax collection. This indicate a very huge problem that except Service sector most of SME and Agri Business man is not even contributing through direct income tax.
• Large Taxation leaks happens at major Infrastructure sectors like Real Estate etc., which provide avenues for corrupt people to convert there black money(UnDisclosed Cash) into White Money.
• Fake Currency is another huge Problem which is fueled by our neighbor and few anti national elements. This bleeds Indian economy further by inflation, funding anti national activities and sometime even elections.

In all above cases the cash stacked or produce(Counterfeit Bills) was in large bills of 500 & 1000 currency.

How you flush that black money, fake money & get people/business into ambit of Tax or uncover dark parallel economy at same time ?

Best way is what Modi Government has done today. This will have far fetched effect on Indian Economy and short term turbulence which if India sustain it will be major boost in arm of Drive against Corruption. I urge my Indian fellows to Understand this move(Understand new Currency) and support it, because sometime to cure disease we need bitter medicine but don't Panic. Indian Government has prepared for this, still they can't prepare for chaos. In near time people & business will face issues related in day to day transactions but honest money earners not need to worry. Does new Currency Bill are protected from Counterfeit that will clear more in coming days.

Will corruption end after this in India ?

Certainly not, as it is mindset which we need to correct. So it is a continuous fight and at-least we people see clear intent at top level in Government though possibly their could be some corrupt elements in even today's government. Most important is, Top leader should not be corrupt and he/she should not have reason to be corrupt(Karma Yogi), for example current leader has no personal benefit from corruption like other leaders do, who had their dynasties and relatives to be benefited out of Corruption.

Corrupt people & business i have my pity with them in India today. I Hope today america vote against corruption and whosoever wins this election, Drive Anti Corruption campaign in America also and make better place for Americans & us.