Seems that offering freebies in form of money distribution & loan waiver has become a norm in Indian politics. Instead of concentrating on the core problems and bringing the best long term solutions, political class is continuously using these freebies to attract the voters for their short term goals. This will only aggravate the problem rather than solving it. Recent freebie announcement made my Mr. Rahul Gandhi of Congress party in the name of minimum income guarantee scheme (if it comes to power) is a joke on Indian tax payer. According to him any family earning less than 12,000 Rs/ month would receive Rs. 6000 every month which accounts to close to 72,000Rs per year.
Hypothetically if we take this figure with 8% to 10% population and assume that around 10 to 13 crore population is in that range. It will be costing the Indian exchequer close to 600,000,000,000 Rs/ month. Hard to count the zeros in the figure right ???. Yes you got this right, it will cost India about 60,000 Crores Indian rupees per month which is much higher than a state budget and close to 7 to 8% of the total GDP. It seems that Congress has become so desperate for power that it does not differentiate between facts and myths. This political stint if implemented even in phase wise manner will take Indian economy to a free fall.
India is already facing a huge money crunch with large number of NPA’s with banks and loan waivers which had made the national banks balance sheet a mess. These problems are complemented with many state governments offering their own freebies in the name of free houses, free money and many more populist policies. It is good to help the poor and underprivileged section, but this way of free distribution will not solve the problems in any way instead will create many more cascading social problems. Had free distribution of Televisions in Tamil Nadu, Free laptops in Bihar, UP, Free houses in Telangana & Earlier Andhra Pradesh solved the poverty problems from past 2 10 years, a big NO. Rather we sit in the same place where it all started. Virtually in India governments cannot decide or differentiate between poor and middle class. As both classes face the same issues of fear, uncertainty, unemployment and job security and identifying the income at 12000 Rs/ month will be a huge uphill task itself.
Governments have to find factual solutions with economic supplements & upliftment by proving jobs through promoting manufacturing, service and agriculture which can be the core backbone of Indian economy due to huge labour force available in India. But many economists and industry experts around the globe feel that India has enough young population which can drive the next decade but lacks skilled force. These freebies will make many people lazy and will lead to a bad omen and send wrong signals to tax payers and general public. There will be a day when political class shall repent on these kind of populist policies. Many Latin American countries have implemented but failed miserably and they are in a irreversible phase. But if a economic catastrophe happens currently in India, it shall lead to massive outbreak of social issues.
If congress party and Mr. Rahul Gandhi were so concerned about poor people and poverty, what had they been doing from last 70 years, as their family and party ruled the country all these years. Is it that Indian population became poorer only in last 5 years ?? is it that entire India population was rich all through last 70 years ??. Politicians cannot escape these questions just by doing some announcements without enough knowledge and create headaches to general tax payer and destroy the hard earned overall economic improvement over the years. They have no right to take away tax payers money for granted and distribute it for their political goals and ambitions.
Why should Indian tax payer take the burden of these freebies. Why should he/ she pay for some foolish statements and policies made by immature politicians. Why not we make a constitutional amendment that all freebies should be borne by Individual parties through their party fund or personal income. There will be a day when all tax payers will feel that paying tax is a mistake and shun away from it. Freebies have become a nonsense in today’s politics and is creating a bad social injustice rather than solving it. Its demeaning taxpayer’s honesty and there shall be a day that India will suffer terribly if this policy gets implemented. Hope voters in India use their intellect and bring best leaders to run the country and make India a economic superpower.