Professor Kumar again appeared in an Interview. As reported earlier RBI data shows Economy was Mismanaged and in DEEP CRISIS.
Obviously there are difficulties in implementing Cashless Transactions in WHITE Economy and stupid to pay for a cup of tea through Mobile Money.
But major CHUNK of our economy is BLACK ECONOMY which is run entirely on CASH.
Cash is OXYGEN for Black Economy
That’s why see Do & Die Battle going on to take away ‘Rs.2000 Notes’ through backdoors of Indian Banks with connivance of Bank Staff.
30% to 60% Cut in Conversion of DEMONETIZED Currency and new Currency is indication of HUGE PROFIT MARGINS realized by MONEYLENDERS, TRADERS & HOARDERS.
Failed and SCAMMED Banking
Just 4% of Indians are Employed in Organized sector – Even in this 70% or more are Class III or IV Employees who are not in IT Net or take advantage of Concessions. 90%-95% of the Bank Lending is to PUBLIC or PRIVATE ORGANIZED SECTOR.
When Banks FUND 100m Farmers to STORE, PROCESS & MARKET Their Produce – India creates 100m New Enterprises – Government has Options to Either Charge Commercial Interest Rates For POST HARVEST Enterprise or Subject these Enterprises to IT.
This Simple Procedure Shall DOUBLE JOBS INDIA – Entire Food Economy will Become WHITE – GENERATE MORE TAX REVENUE & GDP Than CORPORATE.
Agriculture to Market 200% to 800% Value Addition
GUJARAT INDUSTRY 10% to 13%.
A Groundnut Farmer invest say Rs.20 and Sell Crop @ Rs.40 Per Kg at Mandis – Groundnut than retails for Rs.200 average. WHITE COMPONENT is just Rs.40 or 20% of Retail Price or 100% of the Mandi Price – Average Tax collection could be just Rs.10 only. Farming Enterprise even if it retails at Rs.100 to Rs.120 realizes 800% Value Additions.
Indian Banks Have No Skills to FUND Corporate Like RIL who also Operate 105 Subsidiaries, Invest in Over 150 Listed Companies, Contribute Little or Nothing To People of India Who Fund Their Projects.
WORST OF ALL GoI DIDN’T INVITE FOREIGN COMPANIES TO FIX CRITICAL SECTORS – Oil & Gas, Real Estate, Organized Retail, Power, Transport, Water, Manufacturing-R&D – Bled Economy.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, New Delhi-110016, India. Ph; 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
SmartCities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
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