Sunday, January 29, 2017

Facts File :- Modi Sarkar – 5, 29 January, 2017

Honorable  - Prime Minster Shri Modi Ji

This ‘strike’ is off the mark
Not one of the NDA’s stated objectives for the demonetization move are even remotely near realization

Singing paeans to a Digitising India are facetious. No. one – not the poor farmer or the daily wager – was warned that he needs to get a smartphone to upload an app to pay for seeds or receive his daily wages. Any logical and well-governed system would have done a blitzkrieg of digitization for two years before the big bang demonetization. The NDA, instead, chose to put the cart before the horse. The image of an urban elite with multiple credit/debit cards and smartphones mocks the spirit of the common Indian. A call to resoluteness in a bleak economy is only political glibness, not responsible leadership.

Empirical reports confirm the worst. Micro-small scale Industries suffered 35% job lossed and 50% dip in revenue in the first month after November 8; the All India Manufactures’ Organisation predicts a 60% drop in employment and 55% loss in revenue over the next quarter, automobile sales in December fell the most in 16 years; GDP growth in the first quarter slowed to 7.1% from 7.5% from that a year ago; the IMF downgraded India to about 6.5% (while increasing China’s ratings). Crisil lowered its GDP forecast for 2016-17 to 6.8% from 7.8% earlier, suggesting an erosion of Rs. 1.5 trillion this fiscal. Less money in hand has reduced sales in the informal sector by 30%-40% as also in FMCG segment.

More than 100 deaths in a month are themselves enough to rest the case against this firman (Qjeku). 

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