One wishes that the Congress-UPA would stop blaming everyone else for the economic crisis the nation is facing. It is time for the government to bite the bullet with the three or four step medicine to stem the collapse:
1. Energy imports are the largest component of India imports accounting for some 60% of all foreign exchange earnings. It is imperative that energy prices are completely freed and respect the first lessons in economics which says that demand will fall as prices are increased. Of course this will increase inflation too, but hey MEEEEOOOOW, you gotta bear the pain of the injection to curse the painful disease!
2. Call parliment till the GST issue is solved AND IMPLEMENTED. This will contribute an additional 1-3% growth to economy.
3. Cut government expenditure by at least 25%, more specifically cut politican-babu-judge salaries/perks/retirement benifits. Hey, MMMEEEEOOOWWWW again: One of the highest and most non/counter-productive sectors in the world. And BOW-WOW, repent.
4. Remove air-conditioners from all government offices ... and replace same with coolers. After all, we are a popper nation, are we not? And no government cars for offices, except maybe one or two maruti ALTO for top babus. Because MMMMMEEEEOW what are fancy cars from taxpaer money doing in offices and politicans? Are we not a popper nation? Babus-politicans-judges should travel in their own cars-autos-metro, the way the rest of the world does, even the rich nations.
Happy successful recovery.
Victor
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