Every Indian must read:
India has worst tax to GDP ratio in all BRIC nations who are decreasing there debt with FDI comming in why India is increasing its debt? Quoting all references below from authentic sources.
Russia in same years decreased its debt from 59.9% to now 9%
China maintained debt at 17% of GDP.
South Africa ratio also decreased from 425 to 35%.
Brazil from 66% to 64%
India 65% to 75%.. (Where 10% of GDP gone?) in terms on money figure ( india GDP 1500 billion dollar 10% of it 150 billion for 10 yrs its 1500 billion dollar ? is it channel through stock into stock exchange or its in politicians pocket? Who will answer ?
Last 10 years of reform: India’s debt increased from 75% to 90% despite so much expansion in economy. All other BRIC nation debt has come down..on account of as FDI come it efficieny increases and borrowing need decrease also from selling of assets.
(reform not only means bringing FDI it means improving internal delivery processes).
Brazil, China, Russia all decreased there debt and benefited from reform what about india? India increased debt from
For reference I pasting old articles in news in 2004 that foreign investment helped india to cut its debt.
How much hope ful were we 1999 tax to GDP ratio was 65% in 2009 its 75%.
http://www.bricsindia.in/brics-report.pdf got to table 1.11 you can find Tax to GDP over years.
2. With inflation remain in two digits 10% what’s use of average 6% growth rate.
3. Competitiveness also no increased over period of time.
4. Attracting FDI india is losing as destination of choice in BRIC.
5. Corruptions and scam have eaten away most of the growth money not coming into people hands going inot there dummy accounts offshore accounts every where from cricket to film to companies board looks under control fo corruption wanting public money..even there signs they may be under control of underworld god knows may be channelizing money into terrorist fundings etc…