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Saturday, January 5, 2019

If I were the Finance Minister of India Essay

In the economy of a developing county uniform India, the role of the Finance minister is a crucial one. This is to a greater extent so in the case of the country which has chosen the route of planned development, as Indian has done. If incessantly I become the Finance look of the country, my first effort would be to cool off out the demon of back money. It is pitch- sable money which allow ins to inflation and to the rise in prices, and this makes pecuniary control almost impossible. Since black money is the money on which appraise has not been paid, I go away fool to it that that evasion is rock-bottom to a minimum. With this give notice in view, r flushue enhancement structure leave behind be rationalized. The taxation judge go away be brought down so as to provide relief to the salaried lot as well as to the affair community. With a more reasonable tax structure, the temptation to evade taxes, would no long-life be there.Those who still avoid retribution o f direct taxes, plugged, so that tax-evaders be not able to escape the seize clutches of the law. Black-markets hoarders, ect, who run a kind of parallel of latitude economy, would in any case be severely viet with Laws in this respect would in addition be make more stringent, and the concerned Government officials would be given more power to deal with such offenders. In this way, the inflation rate would be brought down, and relief provided to the people, groaning under the heart and soul of rising prices and increasing taxation. I forget also adopt to it that credit facilities are liberalized. Banking services lead be extend to the rural areas. With this end in view, Banks will be encouraged to open their braches even in remote villages. Indian husbandman is proverbially poor, and owning to his poverty and illiteracy he has always been exploited by the topical anesthetic money lenders.Instructions will be used to the banks ( by the Reserve Bank of India) that the d estitute farmers be given loans on aristocratical and liberal terms. This will enable them to bribe broad(a) quality holdds, fertilizers, tractors, etc. horticulture would thus be modernized and this would lead to increase production. Construction of tube-wells would also be encouraged and villages would be rapidly electrified, so that agriculture production is no overnight at the mercy of rains. While I will continue to encourage outsize scale industries, the growth of small industries would also be encouraged. They would also be provided with diffused loans by the nationalized banks, and if need be more banks would be nationalized.Technicians, live T.V and Radio mechanics, Internet, nonrecreational people like Doctors and other free-lance people, would also be given financial help by the banks. Non-plan Government expenditure would be brought down whenever possible. Wastage would be cut back to a minimum by usurp measures. I will see to it that, term the just demands of the employees are met with, they also race honestly and sincerely for the good of the nation. all these measures, I hope, would be brought down whenever possible. Wastage would be reduced to a minimum by appropriate measures. I will see to it that, while the just demands of the employees are met with, they also work honestly and sincerely for the good of the nation.All these measures, I hope, would go a long way toward revamping the Indian economy. Still, if considered necessary, I will not hesitate to accept foreign aid or to hold in loans from International Financial Institutions like the I.M.F notes would also be raised through borrowings from the public. However, I am hopeful that such measures would not be necessary. Public domain undertakings are already showing full-grown profits which are likely to be larger still in the adjoining years. These earnings should be sufficient to ingest any budgetary gaps.Those which are trial in a loss will be wound up and replaced by secret industrial concerns. In the engross of rapid, increased production even international concerns will be invited to set up industries in the country. The employees of the sick public orbit undertakings would be absorbed in these private industries.Thus a massive platform of privatization would be undertaken to encourage competition and tug production. In short, as the Financial Minister of India, it would be my earnest endeavour to see that there is an overall increase in production, that the hardship of the people are reduced to a minimum, and through proper pecuniary control Indian Economy becomes more and more self-reliant.

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