India's Economy: Will stimulus package solves the crisis?

Indian annual growth is slipping from it's 9% mark of 2007, stocks are down 40%, and foreign stock market investors are moving away from Indian soil. Corporate India blames the ruling coalition for failing to make reforms and no realization of any ripple effect. The country is reeling from 11.4% inflation. rising interst rate and large govt. deficits---so India has gone within six month from hero to zero status of 7% growth rate.

The greater crisis India faces today could have been avoided by skillful and thoughtful planning. India imports 75% of its oil to meet demand, which have grown exponentially as its economy expands and also subsidizes 60% of the price of such fuels as diesel. Populist ruling Congress government spent $25 billion on waiving loans made to farmers and hiking bureaucrats' salaries without realizing the hole they are making to the pocket of Indian economy. If we add this to the fertilizer subsidy of additional $25 billion we are making allmost deep into pocket of $100 billion which is close to 10% of GDP of India and in layman this is equl to the collection of entire country's income tax in a year. It's ridiculous to stop India's new planned infrastructure more on upgrading education and health-care facilities. The official debt is 10% of India's GDP the government completely missed the opportunities to fix it. How can congress government don't see the hole in the economic tunnel, no significant forecast and planning, infact no significant reform was done during thier past four years. we understand as a citizen about the coalition compulsion---but the country comes first.

A plan to build 30 Special Economic Zones is virtually suspended because New Delhi has not sorted out how to acquire land (a major issue in both urban and rural India) without a major social and political upheaval.

Agriculture is in mess, fertilizer subsidies are given to Industry which looks at more use, more sells more revenue and more bottom line--profitability. No thought behind use of fertilizer like how much, where, what --- technologically our agriculture in India is woefully unproductive. It's amaging the research expenditure we have with the ICAR, DST, DBT and incredible flopp with the applied result. scientist are just making their formula and solution in the lab which is of no use to common man. If we have to buy seeds, fertilizers , equipment and plant protection and extension from multinational companies than what we have as an Indian R&D product. this is pretty dismal situation where there is complete lack of accountability at the top and at the bottom people's outcry no body can hear. They seems to born, live and die as ignorant miserable forgotten class. We can be proud Indian to see this great inability of change by the people who belongs to India.

Can you believe that 60% of the India's labor force is employed in agriculture and what we get is less than 1% to overall growth. India's rice yields are a third those of China and half of Vietnam's--you must be kidding, but this is fact. India need to look for improving governance structure and accountability, raise educational achievements, and control inflation. Also need is to be fiscally discipline, transparency in its financial markets, increase agricultural productivity, and improve infrastructure, the natural open environment, and efficient use of resources as well as energy.

In India, we need leadership who's mind and conviction stays within the development perimeter.
Can you belief, we have best brain like PM Manmohan Singh, a graduate from Oxford and Ex-FM P Chidambaram from Harvard and it's misery to see their populist policy of pay hike for beauraucrats and waving loan of farmers this is just parallel to what Bush administration has done for US. How many time we will do it time and again to enhance appeasing policy just for vote.

The wealth created by the BJP govt. reforms has made itself evident in the luxury cars and apartments in India's big cities, leaving much of India full of aspirations but few means to achieve them. There is a severe shortage of colleges, yet a plan to build 1,500 universities gathers dust. The Communists which is finished around the globe is still thriving in West Bengal lacks outlook like China communism and are against both globalization and industrialization, so without new factories being built, employment growth has been almost stagnant, rising to just 2%—a disappointing rate in a country where an estimated 14 million youths enter the workforce every year, but just 1 million get jobs in the regulated, above ground economy. This is really interesting that people around India has not been made wiser to understand what is good for them instead what the politicians brings "hollow committment" during last month of parliament election. I think the young, energetic India has to come forward to save the country. We need a self-less motivated individual who can manage, explore and fix the basic rudimentary grassroot problem and connect India to prosper. As a campaign supervisor for Organising America, Our dream was to create a force from the grassroot to decide the nation and fix the redudnacy. In fact support of all stimulus package and plan of President Obama is well connected through 5 million volunteer across America. This is the way the revival can come to india---if we take 1 person to cover 100 people to teach, make understand and provide support for deciding write or wrong we need just a 1 million volunteer to make change. India needs to take a promise in this election to change the way we shape our country and work for the education, health , energy and infrastructure to connect the rural coomunity to think, work and hope for better future.