India's Fiscal Position is very bad,what with:-
1.The Fiscal Deficit VERY HIGH
2.CAD very HIGH
3.External Debt HIGH.
4.Inflation HIGH.
5.Tax Revenue "sacrificed' from 2005,by way of concessions to the SEZs = Rs 12,69,600 CRORES ,[based upon 2005 figures.Taking Inflation into consideration,this will be very high,NOW].THIS IS MASSIVE ALMOST EQUALLING THE TOTAL ANNUAL EXPENDITURE!!!
Can a nation survive with such losses?Definitely not!!
6.Under-recoveries claimed by the OMCs,UNJUSTLY,Rs 1,61,000 Crores this Fiscal.Last Fiscal it was Rs 131000 Crores.under-recoveries claimed by the OMCs, go on INCREASING despite massive hikes in the price of the petroleum fuels!!!
Under-recoveries were started in 2005,after M M Singh became OM in 2004,and so far the loss to the National Exchequer may be in the range of Rs 6 to 7 LAKH CRORES and COUNTING.
7.Losses in CoalGate,2 G spectrum etc are massive.
8.There are also many "minor" scams.
9.STIMULI from 2008 is reported to be Rs 13 LAKH Crores so far and counting,as they are continuing.
10.India Inc lost Rs 24 LAKH Crores in 2007/8,due to ignorance regarding Derivatives/Forex.The involved bankers,were,reportedly let off with petty fines.
The value of the Rupee has fallen by 300% from 2008 due to this,MASSIVELY ERODING the wealth of Indians..
India cannot survive with such bad policies. BANKRUPTCY,IS STARING INDIA IN HER FACE.
To be continued.......
1.The Fiscal Deficit VERY HIGH
2.CAD very HIGH
3.External Debt HIGH.
4.Inflation HIGH.
5.Tax Revenue "sacrificed' from 2005,by way of concessions to the SEZs = Rs 12,69,600 CRORES ,[based upon 2005 figures.Taking Inflation into consideration,this will be very high,NOW].THIS IS MASSIVE ALMOST EQUALLING THE TOTAL ANNUAL EXPENDITURE!!!
Can a nation survive with such losses?Definitely not!!
6.Under-recoveries claimed by the OMCs,UNJUSTLY,Rs 1,61,000 Crores this Fiscal.Last Fiscal it was Rs 131000 Crores.under-recoveries claimed by the OMCs, go on INCREASING despite massive hikes in the price of the petroleum fuels!!!
Under-recoveries were started in 2005,after M M Singh became OM in 2004,and so far the loss to the National Exchequer may be in the range of Rs 6 to 7 LAKH CRORES and COUNTING.
7.Losses in CoalGate,2 G spectrum etc are massive.
8.There are also many "minor" scams.
9.STIMULI from 2008 is reported to be Rs 13 LAKH Crores so far and counting,as they are continuing.
10.India Inc lost Rs 24 LAKH Crores in 2007/8,due to ignorance regarding Derivatives/Forex.The involved bankers,were,reportedly let off with petty fines.
The value of the Rupee has fallen by 300% from 2008 due to this,MASSIVELY ERODING the wealth of Indians..
India cannot survive with such bad policies. BANKRUPTCY,IS STARING INDIA IN HER FACE.
To be continued.......
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