Modi-ist Socialism vs Gandhian Capitalism

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This image by Satish Acharya is explaining my point exactly.

Dear Reader, the term Gandhian Capitalism is the term this author wishes to use because since the liberalization of 1992, the Indian economy opened itself to foreign capital, and never promoted Indian industry, besides the remnants of the Inspector Raj, ridiculed the whole concept by making it excessively vulnerable to corruption. Therefore today through this one article I wish to put before the intelligentsia a case where they must think how will India prosper if Modi-ist Socialism is never given another chance.

The Distorted Gandhian Socialism

The Congress started off with a great idea of ruling the Indian masses through Socialism, that was aimed to benefit the masses, and check greed oriented competition. The system was reliant on a humble and an honest bureaucracy. Today, we all know where the bureaucrats stand, and how they make money in cash through regular collections and deals. This was something Sardar Vallabbhai Patel never envisioned when he created the back-bone of the country. 

Congress, as a political party, but as the one behind the economic stability of our nation, never realised, how easy it is to empty the coffers, and bring back the money to the coffers. This system, has continued, with the corporates and everyone else who is under the political ambit of India a victim of money making through odd means. 

Since 2005, till 2016, which is a handsome 11 years, financial years, several people of the middle classes and leave alone the rich, used gambling on property to build stacks of wealth, which not only added to the Fiscal Deficit of the country but also deprived the needy people of their legitimate share of the government  schemes. Instead of innovation, stangnation led to the death of cottage industries, and perpetual farm loan waivers are making farmers lazy and credit-mismanagers. Lack of innovation, brain drain and providing right incentives for the right things, Indian economy is one of the most stagnant economies of the world that hardly attracted interest of the world till 2008 Mr. Raghuram ji Rajan made India a hot-spot for foreign money to be invested for all the wrong reasons and in the wrong sectors. 

Economics is not just numbers, it is about actual growth and employment, the real producing capacity of the country. Indian growth story has not been able to accommodate many people, but instead there is development in patches, and no employment at all at many places. 

The money is the boss reign of business led to the sprouting of many businesses and helped them bag big money at the cost of the public sector enterprises that were to provide affordable and good services.

Therefore, there arose a situation like Do or Die, which gave birth to a dreamer like Narendra Modi.

Modi-ist Socialism- Gandhian in Essence

  Okay, this is the interesting part, now how will people comment on the Modinomics? Saying he ruined the economy through DeMo, or the new formulae of economic growth show poor results, the rising levels of NPAs and the GST, became the worst enemies of reform! Or, this is a Suit Boot ki Sarkaar. I will answer this question with plain and simple logic, not with stats and figures, because logic is more evident than stats, and intelligent people will relate to it easily.

JAN-DHAN SCHEME-

Common rhetoric, “जब किसान के पास कोई आय नहीं है तो वह क्या जमा करेगा”, this is a pure myth because, if one is educated enough then they must be aware that by rampant spending there will no saving. Every penny spent wisely, and saved is the one that adds to your net wealth, and to save you need to keep the money with some custodian, which is beneficial for you, as it gives you a lot of financial freedom, and the money saved will help them build saving corpus, and will lead them to manage their wealth better, through investments in mutual funds, besides giving them access to recurring deposits and insurance schemes.

Reliance Jio-

The biggest and most laudable disruption in the world’s second largest population and the world’s largest market place has been Reliance Jio, the brand that literally gave Indians the biggest boon of their life, and brouht the government closer to the governed, besides other benefits. 

E-NAM, CROP INSURANCE AND COW MILK-

E-NAM will check the wholesale price inflation as well as consumer price inflation of every agricultural produce, and crop insurance will provide security to the farmer, also there are Kisan call-centres, that will guide the farmers about how to improve their productivity.

Cow milk, rural India still is about cows for milk over buffaloes, and on a serious note, there are several benefits of using cow milk, over buffalo’s milk, which may be found in Greek and Persian medicine also besides the outdated Ayurvedic medicine, pun intended. Imagine the impetus to milk production in the country!

Give-up Subsidy and Ujjawala-

Providing Indians with a gas cylinder, is a task, fuel-wood is still a problem in rural India, in urban cities because of burdensome subsidy of LPG, companies never focused on selling small cylinders for the LIG people, pushing PNG in the country, LPG, can be used to create clean electricity.

Demonetisation and GST-

DeMo literally made all the thieves, money launderers, black-marketers, and other bright minds who used to steal from the taxman, behave like greedy demons. Interestingly, property prices came down, therefore, any ordinary man today may think of buying a house. Since the companies are looking forward to actually work and file GST, there is more work, and fiscal discipline. The farce businesses are out. Banks that would have died have surplus liquidity and are under immense pressure to service their NPAs and lend responsibly.

Make-in-India-

This is a move that will show rich dividends in the future. Look, your Prime Minister is bending the knee before rich countries to invest their money in our country, Gandhis never did it, they had the legacy behind them, and no vision, just the addiction to be on the top, and sit there. This man, with no great degrees, and with his lack of fluency in English, is dealing with the world. And if any urban Indin wants to see the benefit of make-in-India, please tell me what is Swiggy, Paytm, Ola, and Amazon? all backed by foreign investors. 

This author would sum up the arguments here, and also agrees that there are other schemes that have not found a place here, because this for the common man, simple logic.

Think about how will we deal with an ever-increasing population pure and simple economics.

Would love to have your comments.


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