For 65 years we have been hearing about "raising revenues", but little about cutting wasteful costs.
One recently came across an article in a leading newspaper stating that India's cost-to-GDP ratio is only about 1+%, and in line with world figures.
Well, the concept of cost-to-GDP is incorrect as a measure of governence efficency.
The proper evaluation would be cost-to-revenue, wherein cost would include salaries, perks, benifits, interest cost, overheads (like rents, free electriucity, water, LTA, litigation costs, travel, etc., etc.). If this true measure is taken into account, it would be seen that costs exceed revenues, and that is why there is nothing for infrastructure like roads, electricity, schools, hospitals, etc., etc.
Mr. FM, it is 67 years overdue that you shift your attention away from revenues to costs.
Victor
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Posted by: Victor Cooper <victor99cooper@yahoo.com>
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