Let us hope for the best, our country when it rose from the sleeping lock down pair of years, to this post pandemic situation, our travelling and tourism sector, our hotels and hospitalisations managements, also our economy; stood gradually up to a state where we look forward to a hope that our country may in 5 years time become quite near to a $5 trillion economy state.
The GST collection in this 2nd quarter of this current year has increased to a satisfactory level. The GDP growth for the quarter July-Sept โ21 is also reaching 8.4% level which crosses the pre-Covid level marks. Indian tourists at pilgrimage sites are also over and above the past few yearโs mark. Due to the pandemic conditions our hospitalizations and hotels have arranged their own way to a mark quite unique and internationally comparable standards for keeping their existence going in accordance with the neighbouring nations.
Now remains our government, which if it keeps some liberal conditions of trade and industry can easily catch up a position where economy stays at 9% GDP for say at least coming 5 years. This would mean a per capita income of about $3,300 per person. That means around 20,000/- INR per month per person on an average. That stays a solid mark where our health care, education, economy will all automatically rise to a universal standard level. Provided our tax reforms, judicial reforms, international GST rationalisation, NRI tax liberalisation, total realization that an experienced civilized nation should quickly rise to the level that is internationally expected for easy economy, trade, and currency controls remains.
We should know that growth is required in all sectors. Trade in this third world regions where our neighbour China ๐จ๐ณ domains. Keeping easy tax policy, cheap land if required for SEZ, say special economic zones, lower port credits so that port accessibility is easy to use by most neighbouring nations. All such reforms which should be acted on quickly before China opens up its lock down conditions, is our only option. We should calculate the opportunity a NRI capitalist invests their expertise, money and job opportunities in remaining in our land versus if they stay away taxed heavily, only remaining the taxes which come when a few come here accepting the global taxation on them. Easy foreign money only flows when reforms are easy, simple and acceptable to most. But all the same security ๐ brakes are always required, at the same time riding a success flight โ๏ธ is also the destination of a developing nation. Let's hope we succeed all in stipulated time to the top when India ๐ฎ๐ณ will be again a golden bird, โ sone ke chiriyaโ. Thanks, Subir Kumar Ghosh.