Common sense economics-a dire need.

Hey,now you know that India has some of the finest economists in the world,from top universities. The jargon they use is also very glib and impressive-sounds very complex so it must be 'right' as its India's 'financial elite' who does the  talking -ministers,bureaucrats,bankers,stock market analysts,mutual fund heads...

The simple fact of the matter is that India is not serious about following any common sense economic rules and actions:
1.Spend less in dollars than you earn in dollars.
2.Minimize bureaucracy  in every form-layers,red tape,number of permissions,speed of approvals,etc.
3.Don't allow ministries to work at cross purposes- in fact,encourage them to work in tandem.
4.Don't allow too many players into the market all at once so they kill each other-  eg. telecom,aviation.
5.Don't be so corrupt.
6.Don't be so  uncompetitive-high costs allround- petrol,land,power,multiple taxes,lack of clarity or permanence on any policy,....
7.Don't give so many freebees to the 'poor' (to be read as vote banks).
8.Don't be jealous of the rich for no reason.
9.Control your population.

You will find that any country, (including China), that has succeeded has done all of the above to a noticeable degree. That's what is important - to a noticeable degree. And these economic actions have been taken by a wide section of the power elite-not just spoken of by economists
from their ministerial pulpits.

Its the bureaucracy,stupid!Reasons for Rupee's permanent downfall

Lets face it,the government controls the pace of all economic activities in India.
In 1992 it began the process for liberalisation for the wrong reason-India was broke. And we all know that all ends bad that begins with bad thoughts.
Most of India's imports are price inelastic-gold,oil,defence and interest payments.
And most of India's exports are highly replaceable-basic engg. goods,basic pharma,software,IT,diamonds,leather,commodities,agri. products, Nothing that the world can do without. All that happens when the rupee falls in value vs. the dollar is that importers negotiate a better rate for themselves. And our imports get costlier.
Only when ALL Indians make the following mind-set change will India's trade balance begin to improve:
1.Acknowledge that INDIA DOES NOT MATTER IN WORLD AFFAIRS.Its called humility!
2.Acknowledge that India needs the world and its products for its survival far more than the world needs India for its survival. (After all,a few less cups of tea,sugar or rice never killed anybody!)Its called being totally dispensable!
3.Become more pro-industry in its business culture,as against its pro-agri. tilt.
4.Acknowledge that being rich is not a criminal offence and is indeed a desirable aspiration for all Indians,and not just the fortunate few.
5.Get off its neutral high horse and stand taking a bold stand in world affairs.
6.Acknowledge that encouraging the growth of many,many big cities and modern industry is its future and not farming!

Grow up,India!