GOI THREE YEAR PERSPECTIVE - FUTURE OPTIONS
GOI THREE YEAR PERSPECTIVE - FUTURE OPTIONS
The benefits of economic reforms, GDP growth and claims of robust economy will ever reach common man ???
Normally the mandate for any government is given for 5 years and it's performance is put to vote soon after completion of 5 year period.
Three years period completed for this government and so far very little tangible results are being felt. The claims in improvements in swacch Bharath, digital india, make in India, sub ka saat sub ka Vikas are yet to see tangible results shall not end with "man ki bhat"
Service tax increased from 12.36% to 15 % as on date with 0.5% swacch Bharath tax and 0.5% krishi kalyan cess. Hardly any cleanliness impact is seen and similarly in agriculture front also though govt claims soil health cards, digital markets etc, the impact in field is not seen. Though there is good improvement in yields, agri commodity prices dropped across the board leaving farm sector to distress. GST act seems to be positive contribution , but govt has to ensure that real benefits are transferred to end users rather than trade adjustments.
Though there are tall claims on boarder security, external affairs , Pakistan remain to be serious issue.
Similarly fuel prices are increasing despite lowest crude prices internationally. Govt is collecting huge cess on fuels and local governments are charging high VAT and burdening the public. All these are being justified by claiming that the previous govt left the coppers empty and also cleaning the mess created by Congress in last 60 years. Similar blame was put on Congress by earlier non Congress govts and they proved no way better than Congress.
Despite our excellent GDP growth , strong digital/make in India , strong stock markets the economic disparities are widening and there are no serious attempts to ensure the economy growth benefit reach poor people.
The sudden slow growth rates -6.1% recorded, negative job markets both national and international are other worrying issues and challenges to employment markets. Similarly the slow down in service as well as manufacturing sectors is serious issue which needs attention. The growth in per capita income of 9% is reasonably good and it's very skewed distribution is the worrying factor. The question is whether we sustain this per capita growth in future and address equity issues ?
People have lot of hopes and are looking at Modi government to deliver what is promised. Time is short and we have to move forward from promises to deliveries.
B Guruva Reddy-9866889246
grbonthu@gmail.com
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