The national budget is 4 days away! The FM has a splendid opportunity to give a new direction to the Indian economy. Agriculture,education,women's issues and eradicating undernourishment should be the priority areas while drastically curtailing defense and administrative expenses!
Defense spending comprises 20% of our budget. A 10% reduction could free Rs. 50000 crores to be used for nation building purposes!
A policy decision should be taken to drastically reduce imports of military hardware and serious attempts should be made to explore private participation in the defense sector. This would not only give a boost to the economy but also facilitate R&D in the private sector. If Iran can manufacture air crafts I see no reason why India cant. I am sure if India curtails its defense spending Pakistan will also follow suit and the rest of the world will also re-examine its priorities!
I hope the Government makes its last budget a revolutionary one!
Defense spending comprises 20% of our budget. A 10% reduction could free Rs. 50000 crores to be used for nation building purposes!
A policy decision should be taken to drastically reduce imports of military hardware and serious attempts should be made to explore private participation in the defense sector. This would not only give a boost to the economy but also facilitate R&D in the private sector. If Iran can manufacture air crafts I see no reason why India cant. I am sure if India curtails its defense spending Pakistan will also follow suit and the rest of the world will also re-examine its priorities!
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