Monday, February 23, 2015

A common man’s perspective on India's yearly budget exercise!

The Indian budget exercise is typical.  Each year it targets to achieve somewhere between 5 to 10 per cent of growth for the country on an average by following a formula where the Super-Rich are given all possible incentives and subsidies, and right to loot natural resources and the poorest of the poor, so that they achieve a growth by hundreds of times and then throw some peanuts for the rest of the country.  

The peanuts percolate down to the next few categories of riches, keeps thinning to virtually vanish at the level of middle class.  

The people at the brink, who have suffered all the losses due to the free loot given to the Super-Rich, suffer a huge slump in their economies and are pushed to further margins.

We can generally comment that, to achieve a national average GDP growth rate of 5 per cent we have to make the Super-Rich grow by 500 per cent and degrade the Super-Poor by 500 per cent.  

Pick any industrial house owned by India’s Super-Rich families and you will understand this economics.

Ranjan Panda

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