Skip to main content
Prof. Arun Kumar on Demonetization Largely Right Partly Wrong 
December13, 2016 (C) Ravinder Singh progressindia2015@gmail.com

I almost entirely agree with Prof Arun Kumar regarding BLACK ECONOMY Three forms of Black Money – Black Income, Black Money & Black Wealth – and that GoI had attacked the pigmiest of all Black Money - not even 2% of GDP. His estimates of 62% of GDP also matches with BR Lal late JD of CBI calculations who too estimated black money in 50% to 60% of GDP range. He did mention about Under Reporting of Sales and Over Invoicing – but even the bigger are Moneylenders ‘Who Run Parallel Economy’ and Multi-Level Trade operating millions of fake companies ‘Laundering Black Money to White.’

Indian Economy is MISMANAGED and in DEEP TROUBLE

1.]  Liability of Center & States in 30 months increased by Rs.25,00,000 Cr by November08, 2016, 70% Contributed by Center. 

2.]  Cheque Clearances declined from Rs.133,96,066 Cr in 2007-08 which was almost200% of GDP High Growth Year in all respects to Rs.81,86,079 Cr or 55% of GDP. Credit Card use helped in Generation of Black Money. 

3.]  India registered Highest Growth rate when average Lending Rate was 14% and Fixed depositors were earning 8.5% interest rate. Reduction of Lending Rate to 9% and Fix Deposits to 7.5% - resulted in Bank Deposit growth of 22% to less than 9% - Just about 1.25% reduction resulted in Loss of Rs.1,00,000 Cr annual loss to Depositors & Banks each – Together with Reduction in Deposit Growth – 30 months IMPACT On Economy is Rs.5 Lakh Cr and Rs.15 lakh cr = Rs.20 Lakh Cr.

4.]  Foreign Trade was down – Impacting Economy by about $170b directly and more indirectly – say Rs.14,00,000 Cr.

5.]  Two Drought Years and Third ‘Note Bandi Year’ Food Prices were Unchecked Shot Up say 30% and Farmers income drop 20%. Rs.50 Lakh Black Economy in 30 months. 

6.]  Flopped ‘Make in India’ – Exports of Engineering Goods declined from $64b to $60b and Electronics Goods from $7.8b to $5.9b in two years. Indian industry didn’t create IPR and exports are ‘Nothing in Value Addition Terms’ – say $20b which is not even 1% of GDP.

7.]  Organized sector Employment was ZERO in Vajpayee Rule – S. Gurumurthi LIED to AAJ TAK, is Zero this time also. JUST 48m or 4% of Population is Engaged in Organized sector and Even in this Over 50% are in Class IV Jobs not in IT Bracket – NOTHING WRONG WHEN 2% PAY IT. GoI didn’t INVEST IN MSMEs, Rural & Agro Industries BUT WANT TO MILK CALVES. Farmers are not Funded to STORE their produce, process and market it. 

8.]  Arun Jaitley was MISLED – FUNDED Ambani & Adani and Wasteful Projects – Central Government Delayed Projects Rs.8 Lakh Cr, 50% Piyush Goyal That SANK The Economy. 

Challenge is to Create WHITE ECONOMY – SBP Had Clear Prog.

Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation, 
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects

Comments

Popular posts from this blog

ch-,l-ih- }kjk tkjh izsl foKfIr&fnukad 12-09-2016 1-    ch-,l-ih- dh jk"Vªh; v/;{k] lkaln ¼jkT;lHkk½ o iwoZ eq[;ea=h] mÙkj izns'k lqJh ek;korh th }kjk bZn&vy&vt+gk ¼cd+jhn½ ds R;ksgkj ij leLr ns'kokfl;ksa o [+kkldj mÙkj izns'k ds eqfLye lekt ds yksxksa dks gkfnZd c/kkbZ o fnyh 'kqHkdkeuk;saA 2-    bl eqckjd ekSds ij gt dk Q+jht+k vnk djus okys ifjokj ds yksxksa dks [k+kl c/kkbZA ubZ fnYyh] 12 flrEcj] 2016 % cgqtu lekt ikVhZ ¼ch-,l-ih-½ dh jk"Vªh; v/;{k] lkaln ¼jkT;lHkk½ o iwoZ eq[;ea=h] mÙkj izns'k lqJh ek;korh th us leLr ns'kokfl;ksa o [+kkldj mÙkj izns'k ds eqfLye lekt ds yksxksa dks bZn&vy&vt+gk ¼cd+jhn½ ds R;ksgkj dh gkfnZd c/kkbZ o fnyh 'kqHkdkeuk;sa nsrs gq;s dgk fd okLro esa nqfu;k Hkj ds eqlyekuksa dk ;g R;ksgkj vYykg dh jkg esa ml vt+he ¼egku½ dqckZuh dh ;kn esa euk;k tkrk gS vkSj mlh ijEijk dks fuHkkus dh dksf'k'k dh tkrh gS ftldh cqfu;kn gt+jr bczkfge ¼vy-½ vkSj muds csVs gt+jr bLekby ¼vy-½
The Enkaysagar Holdings PLtd Daily HEADLINES   ART & ENTERTAINMENT SPORTS BUSINESS WORLD EDUCATION LEISURE #ECONOMY #NEWS MORE  Saturday, Aug. 20, 2016   Next update in about 24 hours    Archives The Unconventional 13-Minute Workout That Helps UFC Fighter Conor McGregor Knock Out Opponents In 13 Seconds Shared by SMOOTHTECH|PRO     menshealth.com  - Truth is, McGregor thinks traditional strength training is overrated. “People are so caught up in routine, doing the same thing over and over. I want to be an expert in many different things.” That... Pro athletes and the things they trademark Shared by Value Your Business     money.cnn.com  - That's why they trademark their names, catchphrases and logos -- things they think might turn into money-making ventures down the line. Sprinter Usain Bolt, for instance, trademarked an icon of the... 絶賛上演中! 『キンキーブーツ』の“ヤバイ”ポイントを語る | SPICE - エンタメ特
The Naresh Kumar Sagar Daily HEADLINES  PHOTOS  VIDEOS WORLD SPORTS LEISURE POLITICS BUSINESS ENVIRONMENT MORE Thursday, Oct. 06, 2016 Next update in about 24 hours  Archives Primaire à droite : Juppé reprend de l’avance sur Sarkozy, selon un sondage Harris Interactive pour France Télévisions Shared by Dominique LUNEL francetvinfo.fr  – Petite bouffée d’air pour Alain Juppé à un mois et demi du premier tour de la primaire à droite. Alors que Nicolas Sarkozy était revenu à sa hauteur dans les sondages réalisés à la mi-septembre, le… Indian languages face threat of fossilisation, need revitalisation Shared by radha raju hindustantimes.com  – India has now been a free country for 70-odd years. Over these decades, we have made progress in many spheres of activity but there is one area where things seem to be sharply deteriorating — the s… Do you want to live on your private aquarium? Shared by Ferhide