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India:Economic Development – Make India Strong-Ten Changes That Help The Process
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 India is a country which is on the threshold of becoming a fastest growing economy. Here are the important parameters on which India can reach this goal.
1) Collection of Income Tax and avoiding leakages of people avoiding payment of taxes. If there are more people who are tax compliant then the financial reserves of the country will become strong helping in its growth in a faster way.
2) People who are the rich, the high and mighty in all spheres of life who have different ways of stashing income in the wrong way thus generating black money and negating the good work being done by government agencies and the government policies has to be caught hold of by the collar and bought to book. It should be seen that whosoever it is whether hiding in India or anywhere in the world has to be brought and severely punished and all the monies recovered with interest. Officials in the system who have been found lax should not be spared.
3) If India has to be strong government should stop meddling into the affairs of small businesses chasing them for taxes of various kinds. There should be a twenty five year moratorium of charging taxes from people who are new to business and are struggling to set up the same. The government does not participate in the risks which one takes to establish a business then why should they hound these people for taxes. A flat tax of 5 or 10 percent can be decided after the moratorium without giving any exemptions.
4) Tax structures should not be meddled annually with each budget. It should be seen that the role of the government in collecting taxes is reduced and incentives should be given to people who reinvest the money in more new businesses.
5) Taxes should be slowly done away with so that India becomes a good business destination point financially like Dubai. A one time tax between 3 to 7 or a maximum of 10 percent can be decided and should not be changed once fixed and nothing new should be added.
6) Industries which can be started in rural belts should be encouraged to go to those villages rather than staying near cities and suburbs. More incentives should be given to them as it will bring a social change in India and increases value of human resource in villages as people will realize the value of education. Decentralization of industries and providing them with infrastructure and resources and other facilities is a must if the whole of India has to grow and not just urban India.
7) A lot of money gets wasted in payment to service providers whom the government appoints who are inefficient. There are a number of manpower in the government departments who are lazy and these people also put down and try to damage of the good workers if they work well. The government should see that tax payer money does not go down the drain by taking the services of such bad service providers and contractors.
8) If a ordinary Indian wants to start business the main worry that comes to mind is going to a government office, applying for licence, wasting time running around different government bodies and doing other things which are of nuisance value for someone wanting to start a business. All these troubles should be addressed practically on the ground and should not be just on paper. It is easy to preach than put into practice so government has to seriously consider and implement this practically. Social security net in life insurance, medical, accident and crop or business loss has to be increased from what it is now. People should not be made to literally beg to get what is due to them as a right.
9) Government should avoid funding bodies or individuals which are of no value maybe they can be provided training free of cost and made efficient. The costs thus spent can be later reclaimed by government or adjusted without causing nuisance to the business which has been set up. Any business works for profit and the business takes a risk too. They should be made to enjoy all the benefits of their hard work after paying the minimum tax which should be one time annually as mentioned above.
10) When fresh businesses start a lot of them wind up and end up bust. The government should provide technical expertise to the people new to business so that this does not happen and money invested does not go waste and the person who started does not get demotivated. Farmers in rural areas have to be made to start some business or the other depending on their aptitude and capacity alongside with farming as this income from business will make them financially self reliant. India being a agrarian economy more than 70 percent of the population is dependent on agriculture. If they succeed in business they will be able to overcome a bad monsoon independently and government can use such funds elsewhere where needed.
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While writers can contribute to the development of India by putting forth their point of view of how things can be bettered and improved to make India a strong and developed nation. It is a concerted effort of the people, its representatives, the bureaucracy, executive, the judiciary and the fourth estate with thinkers and strategic planners and economists who have to sift through the maze of information and ideas at their doorstep and choose and implement what is best for India. The end result should be a strong developed India. This is a continuous process which has to be achieved with realistic goals in minds and it should also been seen that time overruns and cost overruns do not take place and drag down the pace of growth thus hindering the achievement of the objective of India becoming a developed nation. A strong India is in the interest of the neighboring countries, the region and also for the entire world. If the human resource in India is well employed and generates GDP and wealth for India by using the least amount of resources and the producing the best output in different fields the day is not far off when Indians and the world will see the ancient land of India having a rich history, traditions, culture and democracy become a developed nation and helping others also to develop and play a positive role in world affairs.
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