Budget Goals – ‘Water for Irrigation’ & ‘Bank Credit’ Fundamental Rights February14, 2013 Honorable Prime Minister Dr. Manmohan Singh, South Block, New Delhi – 110011 ‘Water for Irrigation’ a Fundamental Right ‘Bank Credit’ a Fundamental Right Respected Sir, In addition to ‘Innovative Ideas for Budget2013’ that shall address the ‘Economic Deficiencies and Pitfalls in Indian Economy,’ India should make ‘Water for Irrigation’ and ‘Bank Credits to People’ Fundament Rights in practice. 1. ‘Water for Irrigation’ a Fundament Right Sir Cotton while commenting on ‘1875 Drought in South India’ observed ‘5000 Million cubic yards of water is lost to sea by a single river everyday if diverted to farms can feed 2 million people’ and if all districts divert water to farms India can feed 10 times its population. He also reported Revenue Had Gone Up 180% in Districts where canals were built and for every £million invested by British Government there is £0.6m annual revenue increase. Cost of providing Irrigation canals in three Madras State (TN) districts was £One Million but British government had already collected £15 million as additional revenue. He also reported if Britain is to provide ‘Drought Relief As Per Humanitarian Principles’ it shall Cost £2 Million for just 1875 South India drought. (Annex- I) Priority of India was Canal Water but Priority of British was high cost Railways – and Zamindars disinterests meant most India didn’t get Canal Irrigation during British Raj. After Independence since KL Rao days Corruption and Loot by CWC, incompetence of NGOs resulted in poor Irrigation Infrastructure Development – over 75% water in our rivers goes waste every year and losses in supply exceed 50% to 82%. Revenue from Godavri district went up from £220K to £558K due to Canal Irrigation. It could have been £900K in case Canals were lined delivering water to twice more area. Sir Cotton reported revenue from Canal Irrigated Districts is £600K and non Canal Districts £250K. Canals were built ahead of Bhakra Dam, in case of Sardar Sarovar Dam just 20% of distribution canals are built, utilization is barely 6% reported by CAG. Water for Irrigation – a Fundamental Right will ‘Triple Rural Income, Remove Poverty, Hunger and Malnutrition, Benefit Poor The Most and Social Inequalities – Avoid PDS’ 2. ‘Bank Credit’ a Fundamental Right Florence Nightingale writing in New York Times August25, 1878 reported how Rulers and Moneylenders would Collaborate in depriving farmers of all their Produce On Harvest. Indian Bank Deposits had gone up to around Rs.55,00,000 crores, over Rs.2,00,000 per household. But 80% farmers and 95% MSMEs have no access to Bank Credit. It is Highly ‘Objectionable & Mischief’ of RBI Dy. Governor to say ‘Bank Credit’ is not a Fundamental Right – and some HNI Opposing Higher Taxes. Facts are that less than 1% HNI get 80% of Bank Credits, Generate BLACK MONEY. A person getting Loan for Factory, also Get Loans for House Building, Loan for Trade, Loan for Cars and Credit Cards and also Get Tax Concessions, and Foreign Loans, Large Companies Get Suppliers Credit Up to Six Months and Advance Payments-Bookings From Buyers. SHOULD CONTRIBUTE TWICE MORE TAX 3XCredit to Industry – Stagnant Growth, No Employment Sir, I Had reported earlier ‘Credit to Industry Had Gone Up 3 Times in Five Years But There Is Stagnant Growth, Virtually No Intellectual Property and Jobs Were Created.’ TO RBI CREDIT WORTHINESS DEFINITION DOESN’T INCLUDE OBLIGATIONS TO CREATE JOBS, INCREASE VALUE ADDITIONS, CONTRIBUTION OF TAXES AND CREATION OF INTELLECTUAL PROPERTY AND DIVIDEND TO RETAIL INVESTORS. BANKS HAVE ALL THE DETAILS BUT DO NOT CONSIDER. SIR, WE NEED TO CHANGE THIS. INTELLIGENT BANKING & TAXATION IS KEY TO OUR PROGRESS. Ø A FARMER GETTING LOANS FOR IRRIGATION TRIPLES GDP CONTRIBUTIONS, IMPROVES EARNINGS, HEALTH, NUTRITION & FOODS INTAKE BY FIVE OTHERS IN 4-6 MONTHS. Ø A FARMER PROCESSING CROPS ADDS FIVES TIMES MORE TO GDP THAN LARGE INDUSTRY. [Processes Crops On His Land, Procures From His Own Village, Avoiding Losses, Transportation, Storages and Middlemen and Can Supply Foods at Half Price.] Ø ‘Water for Irrigation’ & ‘Bank Credit’ Be Taken as Fundamental Rights. [We don’t Need to Change The Constitution But Just ECONOMIC AND POLITICAL STRATEGY.] Thank you, Ravinder Singh*, Inventor & Consultant