Rejoinder To Manmohan Singh Supporters
One of my friend didn't like my critical comments about Manmohan Singh's Quack qualifications and policies.
In 2003 March30 and 31 there were two presentations on budget 2003. On 30th Balbir Punj and Shettiyar gave introduction of the budget and next day Manmohan Singh presented his observations. I confronted them with two questions.
1. Can India make any progress when its one billion people farmers/ SMEs to start and improve business are charged 36% to 120% interest for loans and advances?
2. Can Indian farmers make any progress when loans and advances to farmers are just 2% of the GDP when farming supported 700 million people and contributes 25% to GDP?
Second question was put to Manmohan Singh and he started "Fumbling" and was completely lost and started tell in around 1970 cooperatives were started etc.
I again emphasized that farming is like any commercial activity farmers have to make investments before harvesting the crops.
I could have helped him understanding problems of farming when he was not holding any job.
When he assumed power I thought he might be better to at least previous heads of government. I knew was dull brained who didn't know that even farming needs inputs and investments. But still I hoped little bit of honesty, taking the advice of wise men and administrative skills of making people accountable. Unfortunately he is Zero, Zero and Zero on all accounts.
Ø Following story is just an illustration of his gross incompetence. Even after 50 years four five decades advising and administering GOI he is yet to find "no one-size-fits-all" solution.
In this he admits he is good for nothing and was unfit and unqualified for the position as Prime Minister when he doesn't know the solutions. Students who are not well prepared for an exam don't write the exam and want fail recorded in their report card.
v But Manmohan Singh relish failures.
Government is expected to provide adequate credit to farmers, ensure remunerative prices, quality farm inputs and assured marketing of their produce.
Ø GOI has deliberately neglected on these counts.
Ø It is now accepted but we all knew it for decades that farmers get only 10% to 40% of price realized from consumers. He failed to come up with effective regulations when he was finance minister and with commission agent background had soft corner for them. Of $150b farming economy at least $60b could have been brought under income tax and GOI ought to have realized $20b annually on this count. In 15 years India could have mopped up $300b including though direct or indirect taxes and interest. This could have ploughed back for proving farm credit, creating infrastructure and development of agro industries.
Ø Second important solution is to give remunerative prices to farmers. We all know farmers suffer crop losses due to poor seeds, natural causes and failure of tube wells etc. Procurement prices didn't factor these.
Ø When GOI doesn't mind industry charging 30% or even 40% margins of profit similar margins could easily cover for the losses.
Ø This would have created profitable and self-sustainable and "Progressive and Productive Agriculture". Farmers could have installed own water supply and sewage systems than GOI paying and installing it a huge cost.
v I have adequate grounds to justify his Quack Qualifications and Gross Incompetence.
v Function of the government like a plumber is to clear all obstructions in the smooth functioning of various organs of the economy.
v He failed to address problems of moneylenders, poor quality inputs and infrastructure to efficiently procure and market farm produce when treasury was full of money and he actually eased taxes on imports of big cars.
v It was shocking to learn that efficient and economical Maruti 800 sales dropped 30% this year and this indicates rich have become super rich and poor have become poorer.
v SEZ scheme is most foolish considering our manufacturing and electronics exports for last financial year are just $20b that doesn't need any special zone. Extending Tax Free facilities to entire industry locating in SEZ is most foolish.
v Most important point is the very low value additions of our exports industry like gems and jewelry and petroleum refinery are getting exports incentives but farmers in Punjab who were producing quality food grains substituting imports were never given imports substitution incentives when their value addition is 80% or so.
v But there is little support for innovations and protection for Indian IPR. Obviously when we ought to have been promoting Innovations with our precious resources GOI is promoting Ambanis who are exploiters basically commission agents.
Ravinder Singh November02
No 'one-size-fits-all' solution to farmers' problems: PM
NEW DELHI: Prime Minister Manmohan Singh on Monday said there is "no one-size-fits-all" solution to the problems being faced by farmers and noted that debt waiver has "far reaching implications" on the banking and financial system of the country.
"In the long run, the stability of the banking and financial system of a modern economy cannot be compromised and any solution would have to factor this in," he said while talking to former Union Minister Mohan Dharia.
Dharia has threatened to go on an indefinite hunger strike from November 14 if his demands, including immediate writing off debts of farmers having less than two hectares holdings, were not met.
Observing that the problems faced by farmers living in chronically drought and flood-prone areas deserved special attention, Singh said they were not uniform across the country and varied from region to region and state to state, according to a PMO release.
"There could be no 'one-size-fits all' solution," he said, adding decisions would have to be based on a proper analysis of facts and data so that their implications were well known in advance.
Despite the Prime Minister's appeal to Dharia to refrain him from going ahead with the hunger strike, the former Union Minister said there was no question of rethinking on his decision. "When I take a decision, I do not go back on it", he told reporters later.
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