SIMPLE ECONOMIC FORMULA
(This entry was originally posted on Monday, December 31st, 2018. Thereafter, once again brought back with some minor changes on 1st January 2020 in view of the Indian budget 2020-21)
Economicboom of any country depends on its business, agriculture, industrial production andcommercial activities. When these activities improve, only then the real development takes place. Whenever the government imposes more and more rules, restrictions, inspections, raids andbarriers on the trading activity, then the system gives scope to more and more CORRUPTION. — ‘A DISASTER CALLED ‘RECESSION’ ALSO FREELY ENTERS THAT COUNTRY’.
- Whenever the trade and commerce flourishes, farmers of that country get better prices for their products.
- Only agriculture and commercial activities create most of the non- governmental job opportunities.
Governmentitself is the highest beneficiary when it removes barriers to the trade. ‘Tax revenue of the govt proportionately increases with the increase in the trade turnover’.
- The very survival of the banking system depends on trade and commerce. Failure of these activities
resultin loan defaults & a pile-up of non-performing assets.
THE FIERCE VILLAIN MENTIONED IN THE SECOND ARTICLE OF THIS SERIES WAS KILLED BY THE HERO, WHO WAS KNOWN FOR ‘EASE OF DOING THINGS’!