Our states are bankrupt
State finances are a major causality caused by the pandemic. This was because the pandemic was a double whammy for the states. On the one hand, the extensive spread of the virus and the resulting lockdown badly hit the states’ revenues, which come largely from consumption taxes. On the other, the states, which are on the front line of the battle against the pandemic, were also forced to (increase) up their spending on health, social welfare and in other critical areas. The widened gap between growth of revenues and expenditures has forced the states to borrow huge funds to meet immediate needs. The attached shows the debt position of various states and if we add up, as a country we are jn bad state financially.
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Urge members of LocalCircles to share this post in your social media and with state/local contacts
Our CMs are busy doing inaugurations, bhajan mandlis, bhashans and giving ads. If you dont hold them accountable, it may get out of control.
Take action, u are a LocalCircles member. If u wont, no one else will. more
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what is the consequence? I do not see any CONSEQUENCE. Shockingly, GUJURAT has more debt than many. how that happened? more
Apr 09
Maharashtra has the highest Loan of Rs. 6.15 Lac Crores and least is Rs. 2400 Crores of Arunachal Pradesh. If we want the States to reduce loan amount to generate surplus eventually, it is necessary that States run like homes of middle class family i.e. cut your coat according to cloth you have. 1. Cut all non essential expenditure. - Corruption, wage revisions of mainly Govt. job holders, Make six days a week to increase productivity of office staff, incentive for more/additional work, and punishment for sub normal work.MLAs and MPs pay and allowances should be nil until the State Loan is reduced to 50% of current loan. 2. Take up those projects of low cost, short gustation period and assured increased income to exchequer. 3. Reduce traveling expenses of Govt. employees by use of modern Communication tools. RYK more
Apr 08
It's time for the people to rethink the use of money they spend and have to consider the future. An anticipation of the future repetition of Covid variants and the breaks it may cause in state and federal economies can not be rejected. A united State and Federal policy in the country economy can modify the situations. People and responsible State Governments should work out more policies to rectify their past irrelevant Loan requirements, instead should infuse funds in a productive way. Small scales and middle level industries should be motivated to produce more with available skills and resources within states all over in the federal structure. Borrowing for celebrating Political parties should be stopped. If not anarchy will be the result and get slipped into major disaster. Let all state and federal Governments joint their hands to make the country come out of disasters, irrespective of their political colors and policies. One to One accusations should be avoided to keep the back born straight if they working of people [ if not for pockets ] more
Apr 08
THE SOLUTION IS ALLOW PEOPLE TO WORK. THERE WILL NOT ANY NEED TO SUBSIDY OR WAIVERS REQUIRED. THE PETTY AMOUNTS ARE OF NO USE TO WHOM THEY ARE GIVEN ONLY BURDENS THE STATE GOVERNMENTS. more
Apr 08
Debt financing started from 1950s, global IMF,WB. Corrupt Nehru, Cong started loans, delays, more loans,corruption cycle with poll rigging.Corrupt India from 1970s slid to populism witn caste religion language wars, corrupt SC that didnt prevent punish scams. crime, terror. So justice failure, corrupt past is deficit. Free India became free for corruption, crime, scams, debt too. more
Apr 08
