Rampant corruption is bound to produce an exaggerated money flow in the market. The above phenomenon is mostly due to the unstoppable ambition of people (those who got ill-gotten money) to fulfill all their greed at the expense that they got not out their genuine toil. In common man’s language, the above money is called bribe money.
In the last several decades until 2014, the some portion of the money that was flowing in the market in an exaggerated manner was a part of bribe or scam money. But all of a sudden, from 2014 onward, most of the habitual corrupts and the syndicates of the corruption got demolished by PM Modi’s administration and he scrupulously closed all doors and windows, why, even the pin hole, so the corrupts could not loot the country. The looted money the corrupt would often bring to the market to make it white in other words, make it legal money. The corrupt would usually make huge investments or purchases or engage in orally agreed loan arrangements for interest etc., with the scam cash that they have earned. It all depends on how much money that they have got according to their hierarchy and position.
Today the slump that we witness is also part of the above reason. The question to be asked by every citizen is whether we should allow corruption and scams to happen freely without any check so that our market would remain vibrant and dynamic to some extent? Should we need such economy?
What we see and experience today in our economy are part of the stern measures taken by PM Modi to curb corruption and scams. Further PM Modi also brought several structural reforms, to which many people are yet to adopt. Those business houses that were looting our banks under the auspicious of UPA 1 and 2 had to pull out from the show because Modiji started to catch onto their neck for re-payment.
The large NPA that we suffer are largely the PONGAL gift of UPA1 and 2 as the ministry of finance in UPA 1 and 2 was handled by who is well known to the world.
The slump in the automobile sector also needs to be understood from the perspective of development in infrastructure, city-rural connectivity by train, metro rail, bus, share auto and other cost effective transportation services like Uber, Ola etc.
A reasonable proportion of people also prefer walking wherever possible as people started to believe that walking is a good exercise and good for health thanks to the health consciousness created by Modi by promoting YOGA.
Reasonable proportions of people also want to adapt to government transport system or share auto facility purely due their efforts to minimize pollution and reverts climate change. Fuel cost, increased premium of vehicle insurance, vehicle maintenance cost, lack of parking space, parking charge etc., also deter people from using own vehicle wherever is possible. All the above collectively bound to cause a slump in our economy.
Actually our economy is stabilizing under PM Modi. Our economy is gaining strength and good health under PM Modi and in fact it was quite weak under congress regime. The exaggerated money flow is missing in the market is also due to stagnation in our service sector. Our IT sector is getting saturated and therefore both job creation and high salary are slowly declining. Earlier, the initial salary of the IT professional was quite attractive with its initial reference point and hence people had surplus money to spend on their luxury needs but that is missing today. Further many other developing countries have also entered into the service sector which has indeed affected the prospects of India to some extent.
In the beginning the IT houses were set up in IT corridors which was away from city with virtually no infrastructure and residential facility. But today, the land around most of the IT corridors have developed, plenty of apartments have come and hence the IT professionals prefer to occupy those apartments obviously due to the logistic reasons. This situation has brought down both the corporate purchase and the individual purchase of vehicles. Availability of E platform to order and get many things online also has minimized the use of vehicle.
The economic experts may discount all or most of the above reasons as little storm in the tea cup but on closer analysis many of the above reasons collectively and individually has contributed their share to our present day economic slump or dullness.
India must recognise the absolute, profound and loud truth that Modi has brought down corruption otherwise India was under Tsunami of corruption under congress and UPA regime. Modi is stabilizing our economy by infusing all necessary disciple and norms. Indian is in fact facing a stable growth and stability and not dullness. We must recognize that rampant corruption is bound to cause an exaggerated money flow in market which was quite obvious during UPA 1 and 2. Similarly development is also bound to cause a small decline as people become self-conscious and self-disciplined measuring their needs, save money and contribute something to our environment.
Indians must continue to dedicate at least one hour per day for promoting the positive aspects of Modi’s government, must speak about how corruption and scam free is India under Modi and how shabby and shameful India was under UPA to the society to make India a great land to live and cherish. Time has come we also must promote the sacred thread that can unite all Indians – the Hindu culture, Hindutwa and Hinduism so that India became the role model for unity, universal brotherhood and eternal peace.