Thursday, February 19, 2015

INDIAN GDP GROWTH-PARLIAMENT IS THE MOTHER OF THE SAME

Indian GDP growth projections are now roaming on the streets of India and any Tom, Dick; Harry has become a market analyst. Thanks we economist are saved as few understands the subject. Well Indian GDP growth is dependent on the policy reforms and the mother of policy reforms is the Parliament and its majority size of supporters. Recently BJP have been winning across many states apart from Delhi.  BJP is looking aggressively for getting major presence in state elections. This is highly required since majority in the Loksabha (LS) would not be sufficient enough to pass the reform policies. I hope I am clear to my readers in one short about why BJP is looking aggressively for state election wins. Rajaya sabha (RS) has been set back for the government as it failed to pass many reform bills. The biggest challenges would be GST bill. The growth of the Indian economy is now a political driven game which every individual political parties wants to have a pie. If BJP gets easy passage of the reform then BJP government would be one of the most successful governments which will create history on the Indian economy and it would be quite difficult for the other political parties to get back their lost positions.

The few of the bill which got clearance from LS but got stuck in RS:
·         Coal Mines (Special Provision) Bill
·         Companies Amendment Bill
·         Regional Rural Banks
·         Payment & Settlement System (Amendment)  Bill
·         GST
The GDP growth is dependent on the Rajaya sabha and less on the current government. The level of low education is clearly reflected within the Indian politicians and political parties. We don’t want Indian economic growth but we want politicians and their political parties’ growth. The Indian history have been one of the biggest example where its being found that low level of education of the politicians has resulted stupendous loss to the economy and to the generation of job seekers. Politicians make promises but how much they are contributing to the national growth. States like West Bengal,Assam, Kerela & Tamil Nadu are having their elections in the pipeline.

Further Delhi and Bihar elections are going to be another drama show for the Indian parliament and Indian economy.  The political parties forget that if they approve the bills in RS then obviously business and economic growth will also happen in their states. But I am sorry we don’t understand the same and we are busier to show our strength in our own states rather coming forward for development of India. The RS has created problems for the Indian economic growth. If the politicians with the blessing of GOD understands the same then we would be finding significant jump in economic growth.

Now the GDP growth of 10% is also achievable by 2016 if RS comes ahead to support and pass the bills which would create reform policies for the Indian economy resulting investment growth.


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