While I do not usually like to start with bad news, but seems bad news is the flavor of the month. We seem to be going downhill one day after that. So let’s see what happened. First there is this piece which came in Washington Post and then there was the travel advisory for women travelling by their lonesome from UK and USA . It probably applies to women, even couples for sure . I am sure it was not an easy decision to come to but they had to as they as citizens come first for them. In between my last blog post and this, couple of more horrific things happened. The first thing we came to know is the burning of the Unnao rape victim which happened on Thursday i.e. 2 days from now when I am blogging. Apparently, she had gone to give her statement in a court hearing when the 5 people burned her. It does raise questions about the quality of protection being given to her. Just to be clear, there were no reports of any of the policeman coming to any harm which makes it all the most curious.
The second horrific incident were when the 4 accused in the Hyderabad rape case were ‘encountered‘ . Curiously in this case as well, except for some slight injuries to the policeman there were no injuries. This was when there were 10 policeman accosting the 4 accused. The 4 accused have supposed to taken away all the guns, how we don’t know and still didn’t manage to fire on one of them. It raises and raised too many unanswered questions. Because of these killings, we will never know the answers. What if it turned in investigation that these were not the culprits or there was a fifth or a sixth person who was not named. There was also lot of celebration of this ‘encounter’ which seems that we are still a medieval state rather than a 21st century state. Of course when you have majoritarian narratives such as ‘Hindu Khatre mein hain‘ driving election campaigns rather than anything else than all sorts of things are possible. This is when the country is going through its worst economic history, probably parallel to 1991 although that one was more externally driven while this was is more due to internal factors rather than externals.
Apart from demonetization which was a huge disaster to the country, GST is perhaps one of the biggest badly implemented ideas in the country. Whereas, in other countries it is used as only as a single tax to be levied to the end-user stage, here it was put at very stage which instead of making it easier to use, made it much harder to use. While I had been numbed by seeing quite a few MSME units shutting down due to GST issues and mostly attributing to slow-down rather than blaming demonetization and GST, I was till surprised and shocked to find Reserved bit, a makerspace shutting down the end of the month. While Siddesh, Nisha had attributed a bit towards GST, they also shared they should have done more. While I have been to reserved-bit a few times and did find it engaging quite a bit, getting there was always an issue for me. The GST refund issue has been an eye-sore for everybody but neither the center or the state did anything for it, of course both being in BJP’s hands all this while, this is in my state Maharashtra, one of the more progressive states. The entire process of GST has been anal and had been in popular media for a while now but nobody seeks or shares any proper answers. Why, it even crashed last month and the month before that and before but nobody raises a voice.
The FM being as arrogant as ever. In such situations how startups are supposed to survive ? There were some reliefs given to start-ups but they were too small and still have a sting in their tale to be anywhere effective. Having retrospective taxes is another thing that people are afraid of and that is the reason you are not seeing people investing in new ventures. As it is, there is demand-slowdown or to put it perhaps more boldly perhaps, a demand recession while food inflation is at all-time high. While our FM wants to blame everything on externalities such as global slow-down but won’t answer as to why China is still growing faster than us without using questionable stats. which we are accused of. This is when they are 7 times larger than us in economy size and having a war with U.S. (economically) This is when conventional wisdom holds such that as you become a bigger economy your rate of growth decreases quite a lot as you need more economic muscle to move like for e.g. the United States or the Japanese . This is when they are far more efficient economies and have a larger tax-gdp ratio vis-a-vis compared to India. There is also the savings bit where India excelled which was wiped by demonetization and even now from the moves of Central Govt. savings are failing India which is and was one of the backbones of our economy.
For all their failings, people forget to honor Chidambaram and Manmohan Singh to make it easy to file Income Tax Returns. Of course the present regime has been making it more and more invasive but that’s story for another day. All in all a sad note to end the day on 😦