The Ailing UPA’s Economy Vs PM Modi’s Policy

 

The economic downturn had caused a broad level of redundancy. People were unable to make savings, and as a result, investment sectors were running jobless. The country was continuously devaluing the Rupee and had run into a serious problem of rising inflation. Economy, the bone marrow of the country, was something that nobody was concerned about. Political parties had begun shouting aloud but all that they cried did nothing, had no result at all, save arousing sentiments.

We needed heavy money in the market with a view to expanding it and to meet slowdown. But the politicians and capitalists preferred to invest their money in foreign markets. And it was difficult for RBI to control the situation particularly when the government constantly imposed their silly preferences on them?

Both politicians and bureaucrats thought of how much money they could help themselves to before implementing a policy. The development of science and technology had ever been neglected by them because it did to reduce the federal expenditure. The less was the public expenditure, the less chance of siphoning off money. Friends, this tendency led to a weak economy, greater tax burden, unemployment, poverty, deteriorating social democracy and ultimately to the emergence of violent public protest like Maowasm etc.

India needed a sound economy and for it we not only needed to make our system corruption-free but also an innovative vision for both domestic and foreign trades. We required to promote our exports and to minimize imports, which was possible only when we were premier in technology and our products were better than those available in the global market and suited to the changing demands of the international customers. But the Congress government had ever preferred imports and consequently never been serious about the modernization and development of our domestic industries for their greed for back door commission.

It was unfortunate that the irresponsible people in the government as well as bureaucrats working under them evolved a new trick to embezzle public money instead of evolving methods for a leak-proof system. The repeated slowdowns in economic growth had mainly been the result of the heavy withdrawals from the market, which either capitalists made or those trustees. They did it so secretly that the people assumed the falling growth rate to be an accident in the journey of the economy and accepted price rises, taxation, FDI, levy, quota etc without much protest. In fact, those who so betray public confidence does not have the right even to hold citizenship because citizens are the owners of the nation, and an owner never damage his property, nor does he bear to see others damaging it.

Mr prime Minister believed that it would be disastrous for the country to have Modi as the PM, but I believed that India was already on the verge of disaster and if the UPA continued, nothing would be sufficient to stop devastation as the mounting unemployment and price hike would result in a deadly insurgency and the frail economy would not be in a position to afford further corruptions. Corruption torn India had become too weak to move comfortably.

Congress considered the people of India to be a pretty ignorant lot. It presented the malfunctions of the government as some rare achievements and ignored every corruption in such a way as though they were some important things with which to run a government. They were mistaken – the people understood what was true and this was why they sidelined them in the last assembly elections. In comparison to the growth rate of 9 percent and the inflation rate of 5.00 percent in the NDA’s last financial year 2003-04, the country had witnessed the lowest growth rate of 4.5 percent and the average inflation rate of about 8 percent in the UPA’s last financial year. Besides, the rupee had fallen sharply against the dollar. A dollar that was worth Rs 46 was now worth Rs 60. Of all the barriers to development, the corruption had been the greatest. Now all anti-development parties including the congress had gathered like they were an alternate front, ready to face NDA that talked of nothing else but development.

With the rate of inflation running at about 8 percent, over the average interest rate, and shrinking middle classes, widening the area of lower classes, savings had reduced enormously. Banks and savings institutions were losing their customers day by day. The March closing that year went almost vacant. Very few depositors visited savings banks like LIC, Post Office etc. Corrupt officials, bureaucrats and politicians were growing richer and the honest sorts of them along with the commoners of the country were getting poorer. This was the real face of UPA model of government. The UPA model for education in India – a liberal education for the upper class, a utilitarian education for the larger under class - was a matter of concern. Congress did not want to offer the lower classes access to job opportunities. It was reality; and all that Rahul boasted that he would give jobs to 100 million youths was just a ploy dream to bait young people in the wake of election campaign.

You needed to submit KYC, PAN and IT Return Certificate if you had to make a deposit into your bank account in India. You could not make a deposit of Rs 50000 in cash as well. But they deposited many billions of dollars, not Rupees, into their Swiss Bank accounts without submitting any proof of its sources. The outflow of Indian money every year was more than the sum that the country spends on the entire defence. The Indian black money with the foreign banks was as much as it could establish lacks of high-tech industrial units in the country which could not only lower the rate of unemployment but also of inflation and the bulk of imports. The congress leaders were more concerned with helping themselves to money than with the problems of the people. In high inflation, we had only one thing that we could do and that was we cut our daily necessities because there was no chance to increase our income.

Usually our farmers faced problems in three areas: first bank loans, second judiciary and third irrigation, availability of fertilizers and sale of products. Most farmers come to grief over lack of money during every planting season and therefore are compelled to seek a bank loan. But when they went to a bank, bank managers often stalled over their decisions until they were ready to bribe them10 percent of the loan amount. The interest rates on agricultural loans, particularly in Gramin Banks, were deceptive like that of moneylenders. So the governments should have to monitor all those banks that granted loans on agriculture. It should have to be mandatory for banks to have all such loans insured against floods, failed harvest or any natural calamity on farmers’ behalf. There should have to be an attractive incentive schemes for farmers to repay the loans. Police and courts seldom did justice to farmers; instead, they used them as the source of their additional income. Farmers often get entangled in land disputes and become an easy prey for the dispute resolving machinery. Finally there should have to be sufficient availability of fertilizers, electricity and water for irrigation and a transparent and honest system for sale and purchase of agricultural products.

Everyone contributes to the government fund equally – all according to their income and expenditure. But the distribution was unequal as we saw those who rarely attended their work earned high salaries because they were permanent employees and those who rarely had a day off got a meagre amount, not as sufficient as to get both ends meet, because they were daily wagers, contract workers, allowance paid employees and so. On the other hand, if we compared the quality between the works done by these two classes of workers, we would not find much difference. Moreover, the regular sorts of employees were always busy in looking for some other source of income instead of doing what they were paid. Similarly, a big businessman rarely or never paid the taxes; instead, he complied with the formality only. The government lacked uniform laws and their proper implementation particularly because of its own mal-intention.

One who is in need of something is not a customer. Customer is he who has money and wants to buy something. Prosperity and poverty in a country can be estimated by the movement of customers. There was minimum inflow of customers into the offices of Bank, LIC, telephone even into the shops and stores during the UPA government. Sometimes we felt as though the whole structure of service sector was going to collapse. The farming industry was shrouded in the deepening gloom due to the want of fertilizer and increasing rates of diesel. The price increases had sent the country into deep recession. Uneconomic factories were increasing every year and facing closure. Now after seven months of the Modi government, one could see the overcrowding in all of those offices, malls and stores. Service providers, businessmen, transporters all were busy again – a busy man makes two more persons busy.

The Prime Minwaster’s another bag of development opened. Union transport minister Nitin Gadkari inaugurated many road projects including one’ Lucknow-Rupaideeha highway’, declared multi-crore to the projects and said that there would be new standards for the whole network of roads and highways in Uttar Pradesh. After a long wait the sun rose. The people of Bahraich who often avoided travelling to Lucknow began to love to be at the capital city. The Modi government's 'Digital India' programme geared up to launch a free high-speed wi-fi in 2,500 cities and towns across the country over three years. The revival of BSNL and MTNL was the top priority of the Telecom minister, Ravi Shankar Prasad.

The deal with America on atomic energy was a big leap of Prime Minister’s foreign policy. What the Congress could not do for all its efforts, PM Sri Narendra Modi did with his closeness of friendship with the President Barak Obama. He rightly said that the accuracy of punctuation was unproductive and a formality. This historical agreement would help us generate plenty of electricity which is the heart of every development. Now the government was mounting the steps of development one by one. The Land Acquisition Law, the GST and the Indo-US nuclear deal were certain steps that showed that India would stand in the new uniform that the developed ones wear.

Arvind kejariwal had no vision of how to increase state’s income. All he talked was about expenditure. The treasury of the state is not a sea, nor a Kamdenu. It has its limited income and one has got to manage things within its limit. There are a lot many who are expert at squandering money but very few know the art of developing the means. The people of Delhi wanted to know as to how he would do all those things. He believed that he was singing his own praises and the people were unknown of it? PM Sri Narendra Modi promised the country to do many things but at the same time he told them that he would increase the income of the country by promoting tourism, by welcoming foreign investment, by curbing administrative expenditure, by Make in India programmes, by promoting exports thereby raising foreign exchange, by making a business environment across the country, by eliminating corruption at all levels. He got busy doing all those things. His task was time taking and difficult. Mr kejariwal did not have a vision of this sort? He had been a number one lair and the people of Delhi could not trust a word he said.

Sweet are the uses of change which like the cold bath horrid and shivering keeps yet warm for the rest of the day. The people of India do not like change. They prefer a freewheeling life style to a systematic way of living. Since the people had sensed that the Prime Minister Sri Narendra Modi, being a creative sort of person, was trying to end conservatism with social and economic liberalism, his policies seemed to repel them. Moreover, the opponents, taking the advantage of the public psychology, were busy frightening them by a propaganda campaign against the government. In fact, they were trying to brainwash people into thinking that the policies of the Modi government were pro-capitalist. However, it is not the capitalist but the middlemen and brokers who are harmful because they hoard and often evade taxes. These middlemen cause price rise in agricultural products and at the same time compel farmers to sell their products at the lowest rates. And thus by hoarding food they make an unlawful profit.

The industrialists and the farmers are the roots of the economy. When our own industrialists fail to compete with their foreign rivals or their capitals are so short that they fail to make use of the whole human resources of the country, the government tries to fill the gap with foreign direct investment. The ratio of the young unemployed people in India has always been far too high to the number of industries running in the country. The farming industry had become unprofitable so all the farmers of the country could not completely depend on it for their livelihood. A large number of them were migrating to cities in search of work. The service sector expands or shrinks with the rise and fall of the per capita income. In this situation, only ‘Make in India’ programme could be an effective tool for development, generation of new jobs and to get rid of city slums. Now to make it a success, we needed advanced technology and larger capital which things we could get through FDI only. Furthermore, we could not establish new industrial units unless the land was acquired for them. The new land acquisition bill aimed to set new plants in every part of the rural India, so the different raw materials could be used at where they were produced by the farmers. This way it not only created jobs for the skilled new generation but also made the farming industry profitable, thereby bringing the farmers and the unemployed life and prosperity. The populist policies of A AP or any other of the regional parties were but a slow poison to the growth and development of the country. It was only a tool which they used to acquire power.

Budget 2015 was good because the government’s intentions were honest. It was good because it aimed to support the poor and at the same time to attract both domestic and foreign capital. It was good because it was meant to keep a tight rein on those who made black money. It was good because it sets sights on the development of the infrastructure and increasing the defence budget. It was good because it planned for a quality education across the country and also for a clean India. There are those who earn less than they spend and, as a result, they finally labour under the debt burden. There are certain other sorts of persons, though fewer than the former, who always try to sacrifice their comfort and earn as much as they can. The former live in huts because they cannot afford to create anything new but the latter live in large buildings because they love to develop. Now you can compare the UPA budget with the NDA one.

Industrial development and manufacturing is possible only when you have money and better techniques of quality production with a vast market to sell your products. Now developed countries had already captured all big markets of the world. Since we had never been a good exporter, we did not have our traditional markets. It was for the first time that the Modi Government took initiatives to promote home productions by inviting foreign investment or by encouraging our own industrialists. Now the question arises that if the industrialists were not provided with a wide range of market to sell their products, they would not take much interest in running their industries in India. The prime Minister visited one after the other country with a view to explore the possibility of a new market and a foreign investment. This was how the nation started to provide our young people with jobs - for creating that many government jobs was absolutely impossible. Rahul Gandhi, the merrymaker of a politician, has been fooling the people out of saying that the PM is enjoying foreign tours. Brothers, just watch his intention and see if he really wants the well-being of the country!

During the UPA rule the country had become a safe haven for the corrupt bureaucrats and executives of the public sector organizations. They siphoned off the money in the name of meeting, seminars and other management expenses. No audit ever dared to touch them. They became millionaires, with the national treasury emptying into their individual pockets. What is more, the UPA did its worst in the name of secularism. Often the militants and soldiers of the neighbouring country killed our boys brutally and the government was silent because they then had to carry out their moral duties of secularism. Now things have been changing very fast and they say that the Modi government is not doing anything!

Protest, demonstration or taking to the streets are different ways whereby people show their disagreement for some decisions of the government which they consider to be against the interests of the country, but when the opposition or some group of people does it for the sake of protest only, they do it for their own benefits as these thing are the vile tools of being popular among the people as well. The two amendment Bills, Land Acquisition and Goods and Service Tax, were the Bills that could open the doors of development which was the need of the day, considering the increasing rate of unemployment. Who was responsible for the future of the jobless youths if it was not the government? Mr Yogendra Yadav had to establish his party. In such a one he was trying to dress up his movement as a saviour of the country. The congress did not want the government to do something good, for they feared that the people would compare the working of the present government with that of theirs and ultimately uprooted them from the politics.

During the UPA government, industrialists used to declare themselves bankrupt with a view to swallowing up the bank loans; the bureaucrats, public representatives or people in administration were free to waste public money and were not accountable for anything; the system was working without a proper control on it; the country’s infrastructure was crumbling; the market was flat on its back; the trade gap was widening year by year. It was because of these things the rate of unemployment was increasing and poverty was engulfing the greater part of society. The Modi government took these things seriously and began to improve them day and night. Roads were being built, new electricity cables, poles, transformers were being laid, administration was alert, business moved on, efforts were made to reduce the country’s trade deficit and to balance the budget, defence were being maintained at a high level. It was an irony that there were those who accused the government of doing nothing, with their eyes shut towards theses changes.

The UPA government never promoted business; instead, it had ever had a tradition to use a great amount of public fund in luring the electorate with freebies, thereby making them idlers and ultimately poor. It had once waived the bank loans of those who were old defaulters, ignoring the needy farmers and the demand for OROP. If you help defaulters, do they ever think of being industrious? They will take out a fresh loan and evade repayment once again; and this tendency will also send a message to those who keep up their loan repayments that they default on bank loans, too. The long practice of tempting voters this way had spoiled the work culture and the business environment in India and this is because of this India, which was once called the Golden Bird, is known as a developing country. It is the Modi government that started to pull India together and to encourage the countrymen to work, to make India clean, hygienic and prosperous.

Government jobs are more attractive than any other jobs or self-employment because there are no paid leaves and holidays elsewhere, because in addition to the salary, there are chances of receiving kickbacks and payola in a government office, because your living is not affected by whether you work or not, because your life is secured once you succeeded in getting a government job. These features of a government job did not let the job seekers think of going in for something else and catch the fancy of everyone so powerfully that there was a huge crowd of the youth waiting and trying for government jobs. Now when India needs that every hand work, this crowd was required to be diverted to different other jobs which was possible only when government jobs provide the same living as other jobs do.

An industrialist faces stiff competition from international rivals; he creates job in the country; he fills the treasury. No capitalist ever donates his wealth to a foreigner but rather what he earns brings home. Now every government tries to attract them in their states. I wonder why people still hate them. On the contrary, RJD, SP, BSP, Congress etc, look like a political party; but, in actual fact, they were private limited companies each owned by a family that runs their business in the country by selling the state’s resources and gets richer and richer. I wonder why people do not hate such business tycoons who know well how to take and has anything to give is social hatred. There must be internal democracy in a party because it is something that can produce a head of the government with the spirit of serving the people instead of making profits. This is something why the BJP has given the country a prime minister who had no desire to become rich but high dreams and aspirations to make the country strong and prosperous.

Food Security Bill was another attempt to lure common people into voting for the party. It was the biggest national subsidy expenditure as it was likely to cost Rs. 1.5 lakh carore and would show its unpleasant side-effects. However, it was not a solution but a problem. A sound national economy was a solution because it helps eradicate poverty and generate employment automatically.

BJP earns and makes the treasury rich then Congress follows it to enjoy what was collected. It is for the people to think that it should keep the reckless and spendthrift Congress away from power and avoid being enticed by the freebie-bait. There is much more to be said. Congress has been playing game against the bread and butter of the people and BJP has been baking bread for the people and giving healthy atmosphere of democracy. People are sensitive enough they understand what might benefit them and what is badly needed today.

Now people prefer their livelihood to their caste and religion. They are looking towards Prime Minister Sri Nwerendra Modi, who is expected to be one saviour. Those who ignore the economy of the country will not rule India, for she demands development, employment and corruption-free governance.

The Modi government has been restoring the financial health of the country. It has adopted innovative methods to do so. For example, railway department needs 1700 billion rupees for modernising the whole network while the department had the balance of only 19 billion rupees so far. Now to meet the requirement the railway ministry had decided to earn money through adverts in the stations and comportments and through renting out the unused railway infrastructures. This way the government is trying to find out all possible sources of both income and foreign exchange without imposing an extra load on the people. Once the fund is ready, the country will surprise to see what the development is.

BJP led states are going well: much better as compared with the states ruled by other parties. This fact is obvious & visible. It is BJP that can do to restore the honour of India. It is Prime Minister Sri Narendra Modi, who can make the economy strong and only a booming economy of the country can chase away the wolves of our neighbouring countries.

Pointing towards the UPA Government, our eminent scientist CNR Rao once said, “Why the hell these idiots, these politicians had given so little for us, despite that we scientists had done something." It was obvious that the Congress government had had little to do with the national development. They never aimed to serve the country; instead, they aimed to serve themselves with money and power. “If the government had given sufficient money to the scientific sector, we had done much more,” said our Bharat Ratna candidly with resentment. “Our investment had been marginal, and on the top of that, it comes late.” Now if the UPA government was anxious to work for the national interests, the growth rate would not have been below 5 percent, the country would not be in the grip of the worst recession, our industries would not have suffered bankruptcy, thousands of small businesses would not have gone broken, small shops would not have been a casualty of the declining economy, millions of the people would not have been out of work, our space research would have been more advanced than that of China as it was during the NDA regime in 2003-04. Now after the Modi government came to power our scientists have been bringing us newer achievements because they are being provided with sufficient funds.

In modern time everything depends on money – whether it is national security, scientific development, internal law and order, public offices, disaster management, expansion of infrastructure, or public services like education, health, welfare schemes etc. Countrymen remember the Atal Bihari Government afforded the Kargil War, the Pokharan Nuclear Test, the National Highway Development Project, the Rural Development Plans and so. Remember his Samjhhauta Express, his aid to Haj Pilgrims, the promotion of trade and better relationships between the states. "We must grow faster. We simply had no other alternative," was Vajpayee's slogan. The World had started to fear India's dominance under his leadership. In respect of economic and scientific development China was then behind us. In ten years of UPA regime it became a threat to other countries in Asia. You must have known that our army had sent a proposal to deploy 50000 troops along the China border in 2010 and it was going to cost the country over Rs 65000 crore. The UPA government dill-dallied the proposal, and as a result, China trespassed on our land and we stood watching that. The situation has improved again since Sri Modi became the prime minister. Now if the Public Money is the nerve and blood of the country; now if the Public Money and only Public Money can keep us safe in our houses; now if the Public Money is our job and food – how can we tolerate those who looted it?

A country runs very like a family. The richer is the family, the wider is its business area and the wider the business, the greater the chances for employment. In short, a rich family employs people and a poor family tracks down a job. India was rich with resources and as well as that its earning capacity was enormous. It is poor because the Congress wanted to keep it poor. They soon looted it as it tended to grow. They never let sources of income fall in the market. It was only Atal Bihari, who did not bear any leakage, and as a result, India then witnessed the highest growth rate. People felt good. The rate of unemployment fell down considerably. Then what happened next was known to all. The congress launched NWEREGA, loan waiver and many welfare schemes of that kind without planning for the source of income to fund them and ultimately the economy of the country damaged, but then such schemes did not harm the country as much as their corruption sent the nation into deep recession. Slowly the rate of unemployment grew year by year and finally stood at a horrible stage. So countrymen, think twice before you go to vote. If you want to make your country rich and to protect national sovereignty, you have only one option and that is BJP.

Generally, the Congress government had ever since preferred imports and never became serious about the modernization and development of our domestic industries. Was it not the reason that they had greed for back door commission? The biggest portion of our high priced weapons came from other countries. Were we not able to manufacture them here in the country? We had scientists, we had concepts and the burning will to compete with the world – then, what made us purchase things from a foreign market? Perhaps it was the deep rooted corruption. Just compare all those things with that of what the Modi government has been doing. See how Sri Modi has been working to make the system corruption-free, promoting our exports, minimizing imports with an innovative vision for both domestic and foreign trades and developing technology so that our products could compete with those available in the global market and be suited to the changing demands of the international customers.

The NDA’s budget supports massive manufacturing and structural development and this is why it is capable of giving a jump-start to the economy, creating new opportunities of jobs and bringing both the rates of inflation and interest down. To invite increased flow of FDI in both service and manufacturing sectors will not only reduce imports but also help widen our business with larger amount of capital. 26 percent FDI was too less to attract foreign investors but 49 percent of that can have a tempting impact on them and, as a result, we are a better side to negotiate with them to bring their latest technology which we currently lack. 49 : 51 partnerships with high technology is giving a fresh blood to our failing industries and, thus it is making us self-reliant, cutting the bulk of imports. It is saving us from paying high prices for an item that we purchased from some developed country and may also take us to that stage where we can export our products to certain other countries and earn more money than the amount that the foreign investors are likely to earn as their profit. Given that we have been one of the largest weapon importers and have still got to face tough challenge of kitting out the country with the updated version of arsenals in earliest possible time, 100 percent FDI in defence sector is a welcoming step. It will not only do to jump-start our manufacturing but also help revive our economy and reduce unemployment.

A burst of inflation is a critical disease of the economy of a country for there is no alternate route to the growth. Banks may have a lot of lendable money but it is of no worth unless there are borrowers. No borrower would like to take out a loan at high interest and no bank would grant a loan at the interest rate that spares no profit for it. Now if the rate of inflation is already around 9 percent, a bank will not be in a position to distribute loans at lower than12 percent. In this situation, a new manufacturer who wants to run an industry on loan have no chance to lower the prices of his products and, thus, it is not only that the supply side weakens but also that the market is left with little competition. Yes, this situation can be brought under control but the government treasury should be rich enough to pay the extra rate of the interest on behalf of the borrowers. Everyone knows that the populism of UPA and its corruption had made the economic condition of the country so bad that it cannot afford any subsidy, so the only way left for the new government is FDI. You, however, need not be disheartened – your PM as well as FM is doing well by attracting FDI.

‘Make in India’ is an open message that the government of India is serious about the development of the country, rather than about devising plans to take advantage of peoples’ liking for free gifts and about fixing eyes on commissions through imports. Our dominant neighbour is alarmed by the effective working of the Modi Government. They are bewildered and trying to put a curb on our progress. Let’s unite, ignoring our petty differences, help the government root out corruption at every level and be diligent about our work and duties with the thought that the country is ours and we have to make it powerful.