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1.How to trade in own currencies – a viable method:
As a typical example, let us take the case of Russia-India trade in their own currencies. In case, Russia sells oil against Rupees and the rupees are credited in its account, let them be identified with that month. The value of Rupee be linked to 3-4 mutually agreed international currencies with some agreed weightages, say 40% to Dollar, 30% to Euro, 20% to Swiss Frank and 10% to UAE Dinar. The rates of these currencies in the middle of every month (say 15th) are taken as a reference for the valuation of rupees credited in that month. Hence, Russia will have Rupee credits corresponding to various months from January to December, in a given year. At the end of each year, the rupees left out in the account be normalized to January value of the following year. Which effectively means the rupees of a given month are converted notionally to the four international currencies, at the rates applicable for the given month and converted back to rupees at January rate of the new year. Also, Rupees utilized by Russia during the year also can be normalized, as per the spending months. Similarly, a Ruble account held by India with Russia can be managed. This system ensures that no one loses because of their own currency is not being an international currency or due to sudden volatility the local currency. Since more than one currency is used as a reference, USA cannot take offence to the given mechanism.
2.Duplicity of voters:
SC has recently agreed with the view of EC and the Govt, that Aadhar can’t be the basis for a right to citizenship or vote. Great, let us take advantage of that decision and decide to link Aadhar to Voter id, just to eliminate the duplicate voter registrations. If someone doesn’t possess an Aadhar, EC can register simultaneously an Aadhar Or an extended data base of Aadhar equivalent, specific for this purpose (if one refuses to have Aadhar).
3.Uniform Religious Boards:
All said and done, WAQF Boards serve some purpose for their poor. Poor Hindus also need such an helpful institutions. Either rename WAQF Board Act as Uniform Religious Board Act Or create a Hindu Religious Board Act by an identical act. Identical to avoid controversy.
4.Education & Health:
Both of these should come out corporate & business clutches. While the initial assumption was that they will become more efficient and effective, the current assessment is that they have become exploitation models, for all practical purposes. Limit their involvement to specialization levels. For example, specialist hospitals dedicated to heart & related procedures and so on. Similarly, in education only at post graduate and professional training level. Adopt the models developed in Delhi, to start with.
5.Election Funding:
Route cause for corruption is the election expenses. Let 50% of CSR funding from Corporates be compulsorily deposited with EC. EC also allow public to contribute under 80G, to such a fund. 1/3rd of the funding be earmarked for parliamentary elections and 2/3 for assembly elections. The money be distributed to parties, based on some norms. Equivalent matching contributions be made by the central and respective state governments. Parties be restricted to use only that much money, at party level. However, individual candidates be allowed to get crowd funding in some traceable format, say UPI etc. New parties which are not eligible for EC distribution may be allowed crowd funding for the first five years, in a traceable format. Put these proposals in public mode and seek suggestions for improvement, given the complexity of the subject.
6.Distribution of common pool taxes:
The pooled funds distributable to states be done in such a way, that it doesn’t go to extremes. Put some lower and upper ceilings, say not below 50% of what it supposed to get as per its tax contribution and not more than 400% of its own contribution. Right now the so called rich states such as Karnataka can’t afford attend to its own backward areas, and may be worse than the other backward states.
Dr K Sham Sunder
Outstanding Scientist & a former Project Director of ADA
These pieces are being published as they have been received – they have not been edited/fact-checked by ThePrint.
Logical issues:
1. How to trade in own currencies – End of he day the issue for own currency is trade balance. What would Russia for example do with so much INR when Indian exports to Russia is minimal? This is the true reason why own currency is failing. If settlement is done in other currencies, then there is absolutely NO ADVANTAGE of own currency!
2. Duplicity of voters – As proved, Adhar itself is being created with false documents, how can u rely on this for voterid? suggestion is like trying to find if chicken or egg came first
3. Uniform Religious Boards – Nice point, however, if same strengths, when both boards claim a land, how would u settle?
4. Education & Health – Classic case is current situation of NHS. No need to explain further i guess…
5. Election Funding – Biggest issue is if parties know who has funded there could be backlash, even if that isnt their, wouldnt it reveal which party one is voting for? this would ruin the whole anonimity system! Please think big
6. Distribution of common pool taxes: Makes complete sense on paper, but how long would this be done? useless lazy states keep doling out and are non-productive, how can richer states be penalized forever?
Responses appreciated…