Friday, November 17, 2017


Facts about Indian Economy
                                                  ' Moody' the International Agency has put Indian Economy from Stable to Positive. This is on account of comprehensive reforms taken up by Indian government under Narendra Modi.  The Introduction of 'GST' including Introducing the ' Aadhaar Bio metric Account System'. It has also helped the direct benefit Transfer Schemes. The Government has also taken up steps regarding  addressing the bad loans of Banks. It has given boost to the Indian Share Market.
                                                   Modi government  is under fire from opposition on two accounts i.e, 'Demonetization' and introduction of GST in Haphazard manner.  The Demonetization has brought down the 'GDP' by 2 points and brought recession in small and medium Businesses/ Industries. The Unemployment have increased along with Inflation.  The Export have also gone down. The Medium and Small Businesses have suffered due to  high tax rates of 'GST'. However Government has rectified the high rates of GST which created dissatisfaction among Business Communities and Industries. It is a on going process. Besides that Government thinks that all those initial problems will be solved and all those measures will be advantageous in long run.  The American Think Tank Research Center reported that  Narendra Modi is  still most popular leader in India with 88% people fevouring him.
                                                   Besides that Government objectives were to control Black Money, and to bring more people in to Tax Net with the measures like Demonetization. The Demonetization has brought out 3 Lakhs benami Companies which were closed. 40000 fakes 'NGO' were also closed. 12 Crores additional people were brought in to Tax Net. The All Types of Tax collections have also increased considerably. The Banks liquidity have also increased as they were flooded with additional funds.  In addition to that  3 Crores benami 'LPG cards' and 195000 Ration Cards were cancelled by Government. It can be seen from above measures that some of the sections of society may be not happy  with Government.  However it is for people to judge about the Merit and Demerit in the matter.
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1 comment:

  1. Your posts on different subjects are very intellectual and interesting .
    keep sending us.
    Regards
    Gaurav

    ReplyDelete