It has been almost a month from the day, Congress put out its manifesto for Lok Sabha elections.
I have worked out financial implications of FOUR guarantees, promised by the Congress party.
If Congress comes to power and implements these, 4 promises then, it will ruin our country’s economy and, lead to bankruptcy like 1991.
Our country will become NEXT Venezuela.
Let’s see financial implications of these 4 promises.
(1) Every graduate and diploma holder will be given a right of one year of apprenticeship:
The govt will pay them +₹1.0 lakh for 1 year.
There are about 1.5 crore students passing out graduation and diploma courses every year. Let’s assume, 1 crore graduates/diploma holder take up apprenticeship. Annual outgo for the Congress govt would be: 1,00,00,000 x ₹1,00,000 =₹1 Lakh crores.
(2) 30 lakh new govt jobs would be given by the Congress govt: On an average the salary of a new Central Govt employee, would be around ₹6.0 lakhs per annum.
Annual outgo for the Central Govt would be: 30,00,000 x ₹6,00,000 =₹1.80 Lakh crores
(3) One woman from every poor family, would be given ₹1.0 lakh per year: There are about 16 crore poor families in India.
Therefore, annual outgo for the Central Govt would be: 16,00,00,000 x ₹1,00,000 =₹16 lakh crores
(4) Farm loan waiver: Congress govt has promised to waive off farmers’ loans. Total farm loans outstanding as on, 31st January’ 2024 was ₹20.39 lakh crores.
Assuming that the Congress govt waives off even 50% of loans then total outgo would be: =₹10 lakh crores
Total annual outgo for the Congress govt to, fulfill these 4 guarantees would work out to be:
(1) ₹1 lakh crores. ___I
(2) ₹1.80 Lakh crores. ___II
(3) ₹16 lakh crores. ___III
(4) ₹10 lakh crores. ___IV
Total = I + II + III + IV = = ₹1.0 lakh crores + ₹1.80 lakh crores + ₹16 lakh crores + ₹10 lakh crores. = ₹28.80 lakh crores.
Additionally, Congress has also promised to make MSP, Statutory as per Dr. Swaminathan Report. That means Govt will procure agricultural crops from farmers at Cost + 50% profit.
Therefore, Congress govt’s procurement would be at much higher prices, which govt cannot pass it on to the public. Grains would be sold in PDS at much cheaper rates. Therefore, food subsidy would increase by many more lakh crores.
Central govt’s revenue estimate for the F.Y. 2024-25 is ₹30.80 lakh crore & expenditure estimate is ₹47.66 lakh crore. This expenditure includes, establishment cost, capital expenditure, interest payment etc. To meet this govt would have to borrow, ₹11.75 lakh crore.
Hence, to fulfill its 4 promises, Congress govt will have to raise minimum of, ₹28.80 lakh crore from other sources. When Rahul Gandhi was reminded about MMS’s speech wherein, MMS had said that money does not grow on trees; he resorted to lies to justify his promises.
From many years, he is parroting the same LIE that, Modi govt has WAIVED OFF loans of industrialists. This time he even gave the figure of ₹16 lakh crore. Out of ₹14.56 lakh crore of bank loans written off, ₹10.16 lakh crore has already been recovered by the banks.
With this option of raising resources ruled out, only ways to raise such quantum of resources are:
1) Usurp temple treasures
2) 50% inheritance tax
3) Socio-economic justice tax
4) Snatch away your cash, property, jewellery etc.
5) Unbridled printing of currency notes
6) Hike income tax
Which would hurt the middle class the most. This is not imaginary or fear mongering. A trial balloon was floated by, Yogendra Yadav & other Marxist economists during Covid, asking the govt to nationalise, all the cash, properties, stocks, bonds etc.
Rahul Gandhi has made himself clear about what his govt’s policies would be. Narendra Modi has rightly cautioned us against this conspiracy of Rahul Gandhi to make, everyone poor.
ITS UPTO US NOW TO DEFEAT, RAHUL GANDHI AND HIS VILE IDEAS TO MAKE INDIA THE NEXT VENEZUELA.
(This article has been compiled from the tweet thread posted by @JMehta65 on May 05, 2024, with minor edits to improve readability and conform to HinduPost style guide)
