As the debate rages over who's to blame for a slowing economy, a panel of eminent experts including Rahul Bajaj, Adi Godrej, Ajay Shah, Arvind Virmani and Ajit Ranade explain what can be done to revive it.
Following the transaction which is expected to be completed by November, Dassault Reliance Aerospace Ltd will become an associate company, with Reliance retaining a 49% stake.
In its toughest time in decades because of floods, Punjab would’ve expected PM Modi to visit. If he has the time for a Bihar tour, why not a short visit to next-door Punjab?
The best and practical way to increase growth is to allow corruption first, then chase up the corrupt people, like hunting with the hounds and running with the mare. This will cause the corrupt people to spend the money in a frivolous way on a buying spree and thus it will cause goods and services to move. What I meant is , as corruption goes down people choose to spend less on frivolous and unnecessary items. For example, one may chose to use a Rs 10000/- mobile instead of a 40,000/- one, and this occurs in chain reaction across all section of society, because in our society , corruption is at micro level. Thus the items which are high priced and luxury gets the hardest hit and the shock goes down the entire economic chain.
So we will have to bear with this loss of growth is we want to weed out corruption, and the only way out is to increase Govt spending.
I read Mr Rahul Bajaj most keenly and he is the only one I wish to engage … Nothing works well like a Danda and it was is time the SMEs got tax and system compliant .. For far too long they have been fudging their books and I dare say Big Business benefitted Indirectly!!! … As for incentivising digital payments . Well simply say no to bank drafts .. Just say Yes to NEFT detialed bank slips or Receipts and that’s half the battle … Reducing cash withdrawals to about Rs 25,000/- per Aadhaar account was a very good idea and must be now enforced as a rule with no let up!!!! Pay by cheque NEFT or Card but no cash beyond the Reasonable Rs 25000/- pm. Even casual labourer must be/ needs to be paid by Cheque or NEFT … That would lead to compliance with minimum wages also!!!
The best and practical way to increase growth is to allow corruption first, then chase up the corrupt people, like hunting with the hounds and running with the mare. This will cause the corrupt people to spend the money in a frivolous way on a buying spree and thus it will cause goods and services to move. What I meant is , as corruption goes down people choose to spend less on frivolous and unnecessary items. For example, one may chose to use a Rs 10000/- mobile instead of a 40,000/- one, and this occurs in chain reaction across all section of society, because in our society , corruption is at micro level. Thus the items which are high priced and luxury gets the hardest hit and the shock goes down the entire economic chain.
So we will have to bear with this loss of growth is we want to weed out corruption, and the only way out is to increase Govt spending.
as Rahul Bajaj said Govt should give 1% or 0.5% incentive/discount for digital transactions, then every one will com forward for contributions
I read Mr Rahul Bajaj most keenly and he is the only one I wish to engage … Nothing works well like a Danda and it was is time the SMEs got tax and system compliant .. For far too long they have been fudging their books and I dare say Big Business benefitted Indirectly!!! … As for incentivising digital payments . Well simply say no to bank drafts .. Just say Yes to NEFT detialed bank slips or Receipts and that’s half the battle … Reducing cash withdrawals to about Rs 25,000/- per Aadhaar account was a very good idea and must be now enforced as a rule with no let up!!!! Pay by cheque NEFT or Card but no cash beyond the Reasonable Rs 25000/- pm. Even casual labourer must be/ needs to be paid by Cheque or NEFT … That would lead to compliance with minimum wages also!!!
Very Realistic ! Particularly , Rahul Bajaj _ Always Very Candid , Impartial & “Sawa Sau Crore”_ Aawaz!!