Bhubaneswar: Indian business and exports have escaped the tariff increase by Donald Trump as it has already attacked the business of other countries like China, Canada, Mexico. India is ready to face the actions relating to tariffing the US government particularly on the Indian exports to their country. Donald Trump has called India the tariff king officially. Whether India needs to be worried about the future actions taken by the US presidential with regard to the tariff hike.
India’ s economy is an aspiring and rapidly growing country. We are targeting to become a manufacturing hub particularly when we have immense strength in our services sector. The indigenous capability of India in terms of software, artificial intelligence and strength based research that are going on. The strength of our country has to be kept in mind as much as it has come to removing the challenges for our own sake. High tariffs for some particular sectors for instance the critical mineral sectors, MSME, products which are not available in India are not going to help those. The products which are not produced in India have to be imported. The factor of high tariff cannot be an impediment to stop the necessary items being imported and stopping the other countries particularly the US entering India for business. There has been a balance where the internet of India as regards to its production, manufacturing , capabilities of MSMEs have to be taken into consideration.
The political parties and their election campaign strategies to garner votes from the people has been similar with time. though there is mug slinging by the parties to each other but the basic road map to eventually reach the voters are the same only by the means of naming it differently. some call it freebies, some address it as labharti schemes or sometimes they are known as reveries. the parties defend themselves by blaming the other’s incompetence to fulfill their promises that they make to the voters while asking for votes. the party in power tend to turn this promise into various schemes where as the losing party is seen to be criticizing the propaganda behind it. but the point here is whether one should ponder upon the fact of linking this with the economy of the country. does this systematic electoral politics has an impact on the market operation, demand and supply of the products and the export-import of the country. to mention this, it is noteworthy that price rise in Indian markets, inflation in the country etc are all linked directly or indirectly to the freebies politics as well as the export-import, international trade.
Every political party is keen on promising freebies during their election campaign. The difference between the freebies, reverie and the labharthi is that the capacity of the states to take on such welfare measures will have to be studied before announcing any such promises. This kind of homework should be done by the state governments in their capacity to fulfill it or bring up certain solutions on the issues then only it can be considered as legitimate. These promises done during the election campaigns should be included in the budgetary allocations with proper prior planning by the planning commissions.
There are political parties in the states which give promises their budget later is not able to fund those promises. States that have a sound fiscal situation earlier are not even able to fund themselves at present let alone fulfill promises. If the assembly does not pass it or even if it is passed in the assembly because of a good majority it creates an intergenerational burden on the future generations as the current generation cannot bear but by borrowing money you are passing the burden to the coming generation. The question may arise if the central government borrows money as well but it should be planned in the budget accordingly to indicate to bring the debt GDP down with proper framework.
-OdishaAge
