Before starting wanted to clear that I am not a supporter of any political parties, but I definitely support our Respected Honorable Prime Minister Narendra Modi. I wrote this post to highlight some points of current government which is viral on Social media.
I came across the above Image on Facebook and I like to highlight some points.
1. Subsidy
During Congress power Petrol and LPG prices was low because there was high subsidy.
Subsidy is a sum of money granted by the state or a public body to help an industry or business keep the price of a commodity or service low.
In short putting money from Govt. treasury which was good but economically not good for the country. In economy, anything which is given free is always harmful to the country. Economically it is wrong practice.
BJP Govt. is not subsidizing Petrol, LPG etc. that’s why rate are quiet high. Instead this subsidiary is given for Infrastructure Projects.. It generates employment and Country will get new Infrastructure ready after in long run. So they are thinking for a future. It is good economics.
2. Waiving of Farmers Loans
“On 29 February 2008 (Congress Power), P. Chidambaram, at the time Finance Minister of India, announced a relief package for bestiality farmers which included the complete waiver of loans given to small and marginal farmers. Called the Agricultural Debt Waiver and Debt Relief Scheme, the 600 billion rupee package included the total value of the loans to be waived for 30 million small and marginal farmers (estimated at 500 billion rupees) and a One Time Settlement scheme for another 10 million farmers (estimated at 100 billion rupees). During the financial year 2008-09 the debt waiver amount rose by 20% to 716.8 billion rupees and the overall benefit of the waiver and the one time settlement was extended to 43 million farmers. In most of the Indian States the number of small and marginal farmers ranges from 70% to 94% of the total number of farmers.”
– Source: Wikipedia
Some Facts about above article – Congress has waived crore of rupee loans to farmers but not a single Farmer has been yet benefited I think, as still the farmers questions are arising. Might be it is one of the way of their corruptions. Therefore present BJP Govt is avoiding to waive Farmer Loans because it will badly impact many Banks eventually leading to bad economy.
3. Why India is still Developing Country
India is still developing country even after 70 years of Freedom.
Governments after freedom.
Jawaharlal Nehru 15 August 1947 to 27 May 1964 (16 years, 286 days)
Gulzarilal Nanda 27 May 1964 to 9 June 1964 (13 days)
Lal Bahadur Shastri 9 June 1964 to 11 January 1966 (1 year, 216 days)
Gulzarilal Nanda 11 January 1966 to 24 January 1966 (13 days)
Indira Gandhi 24 January 1966 to 24 March 1977 (11 years, 59 days)
Indira Gandhi 14 January 1980 to 31 October 1984 (4 years, 291 days)
Rajiv Gandhi 31 October 1984 to 2 December 1989 (5 years, 32 days)
Chandra Shekhar 10 November 1990 to 21 June 1991 (223 days)
P. V. Narasimha Rao 21 June 1991 to 16 May 1996 (4 years, 330 days)
Manmohan Singh 22 May 2004 to 26 May 2014 (10 years, 4 days)So in total 64 years and 7 days to be more precise.
– Source: Quora
No doubt development was done in there power as well but not considerable development. Compare this with Japan.
“By late 1947 and early 1948, the emergence of an economic crisis in Japan alongside concerns about the spread of communism sparked a reconsideration of occupation policies. This period is sometimes called the “reverse course.” In this stage of the occupation, which lasted until 1950, the economic rehabilitation of Japan took center stage.”
– Source: Occupation and Reconstruction of Japan, 1945–52
In 1945 Japan was defeated after World War 2. But see where Japan is now and where India is today. India is still developing.
4. Question of High Tax
The Congress-led UPA government is criticized on many fronts; one of the most talked-about of these is the never-ending list of scams, corruption and bribery cases under its rule. The Indian National Congress was established to give educated Indians a greater share in government and to take active and consolidated part in the freedom struggle for the welfare of India. But when and how these objectives took back seat, and self-interest and scams became part of the Congress are the main areas of concern. This contributed to their historic defeat in the 16th Lok Sabha election.
Even if BJP Govt has increased taxes in some extent, that money is within the Economy. They have not made any Scam like previous Govt. did.
Some famous scams:
1. 2G Spectrum Scam (2008) – Rs. 1,76,000 Crores
2. Common Wealth Games Scam (2010) – Rs. 70,000 Crores
3. Coal Scam (2012) – Rs. 1,86,000 Crores
4. Satyam Scam (2009) – Rs. 14,000 Crores
List is huge will write a separate post on this scams.
When BJP took a charge in 2014, economy was in bad shape because of Big Scam made under the Leadership of Mr. Manmohan Singh and P. Chidambaram.
The annualized inflation rate in India was 3.78% as of August 2015, as per the Indian Ministry of Statistics and Programme Implementation. This represents a modest reduction from the previous annual figure of 9.6% for June 2011.
5. High Cost
In Congress time, Toor dal was touched high of Rs.180/kg. What you are seeing currently is short term negative effect of Demonetization and GST. It will improve in long run. Because Govt. has to look at long run and not at short term. Due to the huge amount in scams which was lost from countries economy, BJP Govt. had to raise price so as to balance the economy.
“Turning to India…we have slightly downgraded India; but we believe that India is for the medium and long-term on a growth track that is much more solid as a result of the structural reforms that have been conducted in India in the last couple of years,” the IMF Managing Director Lagarde said
– Source: News
Country which is changing have patience to wait an see.
Do comment if you think something is falsely presented above or anything is missed to highlight.
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