At least this time, people are thoroughly disgusted with Modi.
After demonetization, the complicated GST has dealt a blow to manufacturing. Yet, World Bank finds India has improved in ease of doing business? Maybe to save Modi in Gujarat elections!
After GST was passed, Jaitley & Co claimed that Indian sovereign rating will be raised. Contrary to their previous claims of how important GST was, rating agencies let out a big yawn and drew attention to the fiscal deficit & asset quality issues in the banking system.
There is never any final set of reforms. There will always be new “urgent reforms” and pending bills. The goal posts will always be changing. Like asking dogs to fetch a stick, different political administrations will be given different task and different reasons. Old politicians will be cast off when their usefulness has been exhausted. Permanent reforms until the democracy has become part of a global fascist dictatorship.
Like loyal dogs, our netas are eternal optimists & are once again looking for more “good dog” taps on the head.
People in Gujarat are seething in anger over job destruction and crop losses. If Modi tries to use World Bank’s bogus talking-point ranking in his election talk, it will only cost him more votes. Of course, Israeli con artists will have to be called in again to tamper the voting machines.
Diwali firecrackers are just a catalyst – Delhi fog is caused by overhanging pollution already in the air from cars. Euro fuel norms can reduce particulate matter and eliminate/reduce some components but has no effect on the ever-increasing number of cars on the road. The basic chemical energy equation is still the same.
As Ms Social Butterfly said the banks are to blame. Today, even the “poors” have cars.
Car loans should not be cheaper than educational loans but they are. Business channels are forever talking “the case” for the next rate cut so that our lazy corporates can further overload PSU banks with more NPAs. Our priorities seem to be, as the Americans say, a$$ backwards.
The poors buy cars on loan and are cramping our roads. There is no space for public transport because of which their on-time performance is poor. The buses are in poor shape and the transport corporations are deep in debt.
The solution is to place a direct tax of at least Rs. 1000 per year per car on car owners . This revenue can be spent on subsidizing Indian Railways and also be appropriated to the states to be spent on roads maintenance and public transport. It should not be spent on white elephant projects like metro or high-speed rail. The amount should also not be clubbed with regular budgetary allocation to transport ministries because it will then spent on salaries. If the money simply disappears into the black hole of regular government spending, then it is nothing more than a carbon tax. The poors might be tempted to burn a few government buildings if a carbon tax is imposed.
The poors will continue to have their cars and will not become impoverished by the tax. They are truly middle class – they are vain enough to treat it as a matter of pride.
We don’t need your stupid bullet trains. They won’t make a difference to what the West thinks of us. Bullet trains have not made money anywhere in the world and are a drain on taxpayers’s funds. If anyone thinks bullet trains are financially viable, let them bring the foreigners willing to invest their own money in it and let them repatriate any or all profits from it. How about some market-economy practices instead of state-funding everything?
We are already drowning in filth. So, Modi, stop listening to your Goldman Sachs tutors. Don’t tie up meager state finances in debt servicing and your fancy white elephant schemes.