What India needs to do after cutting corporate taxes to make India 5 Trillion USD economy?

Its good India FM Nirmala Sitaraman reduced corporate tax cuts. Next steps is establishing SEZs with easy clearances. Along with that if some fake companies is taking land and not establishing business then provisions to take back land.

This is not something new we are recommending. This is what China had done in past to come to current level.

When China can grow upto 20 Trillion USD economy why India can not grow to 5 Trillion USD in 5 years.

Definitely it will not grow by just saying. Reasonble measures should be taken. Already India FM did a good job by cutting corporate taxes.

Next central government should identify where all in India government lands are there and where all it is better to develop SEZs and which all the clearances can be given directly without any corrupted person in between company to establish.

India has large sea coast. So ports can be developed and exports and imports by sea route can be increased. Cargo and Goods transportation costs will be less by sea route.

Employee rules in private companies should be liberalised. They should be able to recruit and fire the employees when not required by paying minimum amounts may from 3 months salary to 6 months salary. They can find jobs in another companies. It should not be tough job to fire employees in private companies because remaining employees will be in trouble if couple of employees can not be fired in sinking ship. India has to study developed nations what they are following.

Irrigation projects and rivers linking can definitely increase agriculture yields. 

Government should keep a strict rule that no one should give birth more than two kids. Additional child permission should be given by government only if there is life threatening issue to any of existing two kids. Yes it is difficult to implement in India. But it is need for hour. 

Slowly reservations based on caste should be decreased and reservations should be based on only economically backwardness.

India should spend more money on research related to pharmaceuticals, semiconductors, latest technologies, defense equipment manufacturing.

Punishments for mistakes should be made cumulative and not just picking the maximum. Yes there should be a fear in society whoever commits crime punishment will be there. Atleast one quarter of political leaders in India has criminal background.

In India there is a feeling in richer communities if we throw money, punishments can be avoided in India courts. This should go away.

Even terrorists are feeling that they will be maximum kept in jail and food will be served because of weakness in law rules in India. If India brings terrorist act and gives punishments similar to Saudi countries, terrorists might have stopped to step in India long time back. New act should be brought upto punish terrorists and end them without keeping them in jail for long term by spending taxpayers money to feed them. 

Can a terrorist arrested in USA and China can sleep peacefully. But they are able to sleep peacefully in India jails. Why to feed them in jails and why not to end them by bringing new terrorist act? Terrorists should be handover to Indian army and Indian courts only should punish terrorists.

No local reservations anywhere in private jobs. May be jobs can be given in companies if there lands are taken for companies.

Slowly income taxes also should be reduced and steps should be taken where consumption will be there in India.

Solar power generation should be developed which can result in reducing crude oil requirement to India. This will give big boost to India over a period of time. No power shortage should be there while supplying to companies.

India should keep a target that all street lights will be supplied electricity with only solar power.

Good speeds in internet should be brought up and should be available to most of Indians. We have to thank partially to Mukesh Ambani for achieving this with Reliance Jio and Reliance gigafiber.

Promote Green Revolution, White Revolution, Silver Revolution, Brown Revolution, Grey Revolution, Food processing related and warehouses especially in rural areas by supporting people in rural areas by providing loans and industrial revolutions in urban areas. Marketing of products should be made by government post producing products. Similar to what KCR has done in Telangana by giving goats, buffaloes etc to people in rural areas. His idea is good but in implementation he is only partially succeeded. But if implemented properly in all states it will give good results where India will be position to export more milk, fishes, prawns, meat, food grains, processed foods, honey etc.

These are not something new we recommending, These are all couple of steps followed by nations which achieved development and already proved they are developed.

Just study which nations achieved sustainable growth in last 40 years. Just follow them. No need to invent.

We know few things above are not easy to implement in India. But once they are implemented then only poverty can be removed in India and make India 5 Trillion USD economy.

No need to worry about World Bank had cut the India GDP growth to 6% as India had cut corporate taxes which will result in 1.45 lakh crores less income to India government. But because of this more companies will come into India and also existing businesses will expand if proper business environments are developed. 

Even India will get back more than these 1.45 lakh crores over a period of 5 years as more and more companies will come. Even if they pay less corporate taxes, as more business happening more tax will come to India government.

This is what proved in USA and China.

Similar to Narayana Murthy, Azim Premzi and Tata brough software and IT revolution in India, on similar ground someone should bring revolution in semiconductor technology and other advanced technologies in India.

Monday, October 14, 2019 - 13:24 UTC