It's the Economy Stupid!
JFK & Bill Clinton became presidents, toppling established players by the battle cry " It's the Economy Stupid!"
I guess, the situation in India is such that we - the concerned citizenry- have to constantly remind the ruling regime about this cliche`. For, the ECONOMY is drifting away and it seems neither the FM nor the PM has any clue about it. One is so fond of taking cover behind a legal jargon "Act of God" and the other seems to have little concern and goes on repeating his monologues titled "Maan Ki Baat".
NaMo ji experimented with a hare-brained idea called “Demonetisation” on 8 November 2016. That shot a hole through the Indian economy. To cover up that the half ready GST was hurriedly implemented on 1 July 2017. These administrative misadventures have resulted in steady decline of the economy.
GDP growth declined from 8.2% in 2016-17 to 7%, 6.1% and 4.2% in the next three years.
The dramatic 21 day lockdown, with barely 4 hour notice, on 24 March 2020, to contain the coronavirus, further crippled the economy. As a result of the lock downs the economy may SHRINK by 10% this year. This leads to very poor revenue collections, which in turn has blown a huge hole in central and state finances.
However, such economic down turns are no excuse to go back on some sacrosanct promises made to state governments, so as to convince them to cede their power to Tax. It’s insane to destroy the spirit behind GST and cheat the state governments through stratagems and legalese. If the state governments sacrificed their power to tax they can also demand the sane BACK if the most important promise made is broken. The central government can pick up the tabs and show the generosity that is justly expected of it. Looking at the way Ms Seetharaman is handling the issue one can only sigh and wish: "GST now badly NEEDS a sober leader like Arun Jetli".
Tavleen Singh is a Sonia and Gandhi Dynasty basher. NaMo Ji used her (and others like her) to good effect and caught the imagination of a nation fired with aspirations. He has already received 2 historic electoral mandates: in 2014 & 2019. Hope NaMo Ji would listen her first, then try to stop the precipitous fall of the Economy, then steady the ECONOMY and then we'd march ahead with a 10 % GDP growth rate- year after year. Like a fairy tale ending in "lived happily ever after"!
Here's her article:
An incorrigible optimist!
4 年Thank you Sameer ??