January 10, 2018

Delivering the 98th ASSOCHAM Foundation Day-2018 lecture in Delhi today Dr Subramanian Swamy said Indian Economy Can Grow at 10% PA for a decade provided :

A) Abolish Income Tax
B) Raise Bank FD's Rates to 9%
C) Reduction in the Banks' Prime   Lending Rates (PLR)
D)Focus on Agriculture.

Will accelerate the Indian Economy growth at faster pace .

Shri A K Agarwal Ashok Agarwal - Meerut : Who attended the conference , has this to share . It was a memorable experience.
Some more points covered by Dr. Swamy  are ;

1  Raise Domestic savings to 35% level..for this suggested increase in Fixed Deposit  Rate of Interest to 9%.

2   India has largest area under Agriculture having all seasons and weathers...We can have 3 crops per year..whereas we are having one crop per year.

3   Every District should have one small air port and Cold Chain..for boosting Agriculture Export.

4  In India we are having 15 millions cows.Indian cow gives hardly 200 litre milk per year..Whereas Israeli Cow gives 11000 litre per year. Increase in milk yield will bring in revolution in diary industry.

5  Indian States are fighting for water upto Supreme Court.Israel does not have single river and it has solved its water crisis by research ..desalination of sea water. India has more than 4000 km Coast line...Country can have abundant supply of water..by desalination technology.

6  Uranium is going to finish...Future source of energy is Thorium..found in abundance  in the sand of sea shore in Kerala and Tamilnadu.

7 Strict Follow up required for small family norm.

8   Schools Colleges  should be developed by Alumni as is done in West..by the grateful ex students.

9 Indians should shed their risk averse mentality..which ensures Guaranteed Poverty in the shape of job. Indian students should become Entrepreneurs for money creation.

9 Any Activity is worth less if it does not create jobs.Jobs create demand in the Economy to boost the Economy.

QA session was very interesting. My querry/ observation was greeted by peels of laughter..

I asked Sir ..You are respected in India & abroad , as an Economist.
But India loves you for your activities which are non Economic in nature...like opening of passage to Mansarovar..
Saving Ram Setu
Struggle for construction of Shri Ram Mandir at Ayodhya ..
How do you strike a balance between the two?

No comments: