Saturday 25 June 2011

A walk in the Street recommended for our good Doctor PM

There used to be a practice of erstwhile Kings (the great ones at least like Bhoja Raja, Vikramaditya, Krishna Devaraya, Shivaji) going out incognito and mingling with the common man to get a feedback on their rule and more important to get a real feel of how life is out there in the streets.

It is sad that our current rulers live in their ivory towers protectd by Black Cat commandos. If only Manmohan Singh would swap his dress for that of a common man and go out to the streets of Delhi or to the hinterland, he will know how his economic policies have screwed up the life of the common man.

On the back of another interest hike by the RBI (the interest, which has put a heavy burden on the home loan EMIs for the middle class, we have the Rs 3 hike on Diesel prices (this is on the base price, add the excise duty and the state taxes, the real hike will be close to Rs 5) and the Rs 50 price hike on LPG cylinders. Both these are highly inflationary.

It is true that we have to reduce our subsidy burden. But contrary to what many think, we should not be cutting down on the subsidy that goes directly to the common man, but cut the subsidy given to the rich industries. The amount of subsidy given to industries by way of tax exemption and soft loans is bind boggling. And anyway the industries are the biggest loan defaulters and tax evaders. We have to target them and not the common man.

In fact the common man will be too happy to pay higher taxes provided the rich industrialists are also made to pay, and if the Government can ensure that the taxes collected are used in a judicious,transparent manner.

MMS - go out and take a walk in the street, as you used to do, before you became someone, by default.

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