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  • Category: Miscellaneous

    Why not another surgical strike on Economy?!

    Senior BJP leader Mr Yashvant Sinha has come out openly and highly critical with the poor handling of economy by FM Arun Jaitley.In reply, he shot back and referred him as a job applicant at 80!
    Do you think that the remark is an irresponsible statement by FM?
    In recent past, we are hearing many military surgical strikes here and there. Why not a surgical strike on Economy? One strike paralyzed the economy earlier. Why not a second strike to recover? Such as stimulation or something like that?
    Factors affecting the economy nationally and internationally are not such bad. Still we are struggling.
    Dear friends, let us discuss.
  • #610184
    I would say it is an irresponsible statement from our FM to a senior leader like Mr. Yashwant Sinha, who was a former finance minister himself. Our current FM always says that we have increased our tax collections. He is more interested in that only. Since, he is not an economist by himself, he is not able to understand what he says. Taxing more means, putting pressure on margins, which in turn reduces profits for companies. That leads to postponement in expansion activities, which in turn reduces GDP growth, which finally leads to job loss.

  • #610185
    Economics is a subject which requires great understanding of markets, source of raw materials, manufacturing segments, market demand and supply, unemployment and job parity, poor governance in Govt sector, tax regimes and things like that.

    There are various political and business forces in the country which will affect the economy and economic development. In such a scenario how can we expect that one finance minister will make everything all right with a magic stick.

    As far as the economic measures taken by the Govt are considered they may be very correct and prudent but what about the rotten, lazy and corrupt Govt machinery down the line which is working in the country for past so many years. Is it possible to change them overnight.

    Under the scenario if the present Govt is able to bring even a few percentage changes from the earlier times it will be a praiseworthy thing. The question is not of BJP or Congress it is of bringing an honest and customer friendly atmosphere in the country in Govt as well as private sector.

    Knowledge is power.

  • #610193
    No, I don't think the statement of the present FM is irresponsible. The economy doesn't depend upon the performance of a Finance minister, it depends on various factors. India is a part of world economy. When the world economy is experiencing a slowdown, then India naturally suffers. Moreover, the slowing down of economy is only a phenomenon being witnessed during the last quarter. We can't judge economy by the data of a quarter.

    @Mr. Bhuvan: If our present FM is not an economist, Mr. Sinha has also not been an economist. Furthermore, the economic slowdown during the regime of Dr. Manmohan Singh(economist)/Pranab Mukherjee (economist)/Mr. Chidambaram (not an economist), i.e., during UPA-II regime, was much more .

    Caution: Explosive. Handle with care.

  • #610194
    Earlier I forgot to mention about the title of the thread. It is not possible for the present regime to carry out a surgical strike on economy. The surgical strikes on Myanmar and PoK were to destroy the dens of terrorists. It is not possible even to comprehend to destroy the basic edifice of Indian economy.

    Does the author precisely want the same thing?

    Caution: Explosive. Handle with care.

  • #610195
    Partha sir, I never said that Mr. Yashwant Sinha is an economist. What I condemn is the statement made by our current FM. Instead of introspecting the factors for decelerating economy, he is making statements similar to making against opposition leaders. It is a fact that our Economy is dwindling and it is certainly not because of slowdown in global economy only.
    In the initial years, every thing favoured the current Government. But now, it has to face many headwinds. I accept that during UPA II, our economy was slowing down, that is why they are in opposition now.

  • #610201
    It all needs guts and courage to take any big decision and Modi government has to be complemented for taking the demonetization though the process were some hick ups in the early stage, later the people adjusted to the cash less transactions and today many vendors were doing transactions through cash less mode. What I mean to say that the result of demonetization would be visible some time after and the people who are criticizing the government action may not be aware of it. One thing is sure India is vibrant with new currency and there is no room for corruption and stashing of black money henceforth.
    K Mohan
    'Idhuvum Kadandhu Pogum "
    Even this challenging situation would ease

  • #610223
    Definitely, the remarks of Arun Jailtely on Yashwant Sinha was not acceptable. He is more responsible, so he should be more balanced in his remarks and statements, Instead of making unnecessary comments he might have come out with facts and figures to show the real picture.
    To some extent, Sinha also made a little mistake expressing his unhappiness. As a senior member of the party, he might have talked to the PM, with facts and figures. I don't think that our PM is so arrogant or unwise not to hear to a senior member of the party.
    Recently I have seen a news in social media which says that GDP and inflation rates are well within the acceptable levels. I don't know the authenticity of this news. That is why I am not elaborating on the point.

    drrao
    always confident

  • #610270
    Response 610184 is giving more clues. Putting pressure on margins automatically turn the industry towards more automation thereby more retrenchment.
    The growth rate of 5.7 that we are achieving today is resulting from automation I believe.
    Critically important issues such as creating new jobs, training the workforce, skilling, upskilling, scaling etc are not given proper attention. MNCs are started hiring expatriate workmen to work in India in their projects especially from China and Philipines.Our people are roaming in the streets searching jobs.
    Why don't we need a surgical strike in these areas?

  • #610581
    I could guess that in this thread surgical strike on economy means the corrective measures taken by the govt. to sey the economy right. The demonetisation has harmed the already slowing down economy to the extend of ruining it. The move not only hit the employment of unorganised sector but also slowed down the manufacturing sector. The problems could have been a little easier if it could have been done after proper homework. But the decision of demonetisation was a completely irresponsible political move.

    The implementation of GST was also a hurried decision to show that the govt. is commited for reforms. This has also generated many confusions and the red tapism agravating the issues. The govt. collected GST but delay in reimbursement is slowing the manufacturing sector further.

    The make in India is also a failure. The only thing is to produce some defence products in make in India. The production will be a minor percentage of production volume required for accelerating the economy.

    The economy will take considerable time to recover. Let us expect that good sense will prevail in govt.

  • #610811
    Oratory skills won't help for long time and cat will come out one day for sure.
    Thanks,
    Suresh.


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