I am tired of these manipulated numbers. Why only 7.2, you could show me anything 10, 15% growth, absolutely anything, They do not impress me. It's like many of the onscreen beauties of Bollywood with an extremely heavy dose of makeup, lighting, costume, cinematography, and the skills of a cameraman, etc. Look at them off-screen, you will know the difference. An onscreen look is required to make a movie hit. But how much of their onscreen magic works in their personal life? How many of them are greatly successful in their married life? Both sides' reality is different. Most often you will see broken marriages, everywhere - Bollywood, Kollywood, Tollywood, and Hollywood. They have to look for unnatural sexual orientation, drugs, etc. in pursuit of happiness.
I have stopped referring to GDP figures provided by the Modi government. These figures do not mean anything to me if I have to pay GST on my hospital bed, ICU charge, Medical implant, medicine, health insurance, essential commodities, and bank chequebook. These figures do not mean anything to me if we have to sell all our national assets if we have to cut employment in defense forces if we have to employ Agniveer, if we have to borrow ever more, if we have to spend 43% of our revenue receipt on interest payment, if our fiscal deficit and public borrowing has grow by three-fold in volume, if our external debt has to grow by over 50%. All these GDP numbers do not mean anything if our Rupee keeps on depreciating if our trade deficit increases more than double in just two years if our unemployment reaches the highest ever, if thousands of industrial units file for bankruptcy every year, if every year we generate fresh NPA worth lakhs of crores if we still have to NPA worth around 6 lakh crores even after writing off 14 lakh crores. What do I do with these GDP numbers if the NPA percentage goes back to 9%?
India is definitely growing. But India is growing in - NPA, Fiscal deficit, Public debt, unemployment, debt to GDP ratio, increase in external debt, increase in fuel & gas price, increase in GST rates and expanding GST to new items, increase in bankruptcy, out of the way increase in Adani & Ambani’s net worth, increase in US Dollar price.
I am actually delighted to see an army of Modi lovers thronging in the comment section to shower me with their boorish comments attacking me and my answer on other platforms. Unfortunately, none of them have come up with any solid defense of GDP growth. For them attacking me in unison was more important. Because it seems all of them have come from a brilliantly ill-informed economics background. It seems they all have studied Modinomics or Modanimics at WhatsApp University. These incredibly brilliant Modi Bhakts do not have any idea where these fantastic GDP growths should reflect in real life. They will show that the GST collection has increased. GST collection will definitely increase if you put GST on medicine, medical implants, medical insurance, hospital beds, and ICU charges. If the economy has grown by leaps & bounds why do we have to put GST on medical expenditure? Why do you have to put GST on curd, bank chequebook, and essential commodities? 18 % Goods and Services Tax (GST) has been made applicable on bank chequebook/loose leaf cheques and 12 % on maps, atlas, and globes.
Then they will show that the Modi government has constructed more length of highways. Of course by changing the measurement matrix. One Km Highway constructed during UPA days will now be 4 Km as the measurement has been changed to lane per Km.
People do not know why the debt of the union government should grow three-fold from 50 lakh crores to 154 lakh crore in nine years, despite so-called huge GDP growth. They will show that FDI has made record growth under the Modi government. However, they would not be able to explain why the external debt has grown by US $ 200 Billion despite FDI growth. They would not be able to explain why the rupee fell so drastically. They will not be able to explain why unemployment highest ever in a growing economy. They would fail to explain why the merchandise trade deficit is more than US $ 200 billion. they would fail to explain why imports from China increased by around 100% in the last two years.
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