The single biggest contributor to devaluation of our currency and the resulting inflation is ‘Corruption’, the next is counterfeit currency. Hence, drastic and speedier Departmental and Judicial measures are called for to deal with these. (See ‘Counterfeit Currency & Black Money – A Practical Response’). The demonetization carried out recently is definitely a right move and has exposed how little control we had on our currency till then. It has also, temporarily stalled Counterfeiting and Terrorist and Women trafficking activities in the Country. We now need to introduce measures to reduce cash in circulation by discouraging cash transactions and by encouraging digital payments/UPI.

Infrastructure Projects have to be viewed over the long term and hence, need clear and consistent policies over the long term. The implementation of such Projects calls for clear policy on land acquisition and compensation thereof, and of Environment / Forest clearances (See ‘Lands / Rights – Acquisition and Compensation there
for’). It must be recognized that new development and availability of new resources can only be in areas not developed so far. To try prevent to development in such areas is not realistic. (See- Lands/Rights, Acquisition and Compensation thereof.”)

A clear policy of adding the costs of environmental restoration / reclamation, decided in conjunction with the relevant Department or even NGOs, to the Project cost will avoid ‘knee jerk’ reaction / objections from less informed persons with selfish interests. Suitable expert committees could discuss with all stakeholders Within a specified time period before laying down revised Rules / Laws of Environment, Forest, Coastal Zones utilization, considering how other countries have done so.

We must find economic, practical and effective ways to go ahead with the Projects and Development and yet sustain the ecosystem and its inhabitants. The present Laws are too idealistic, impractical and too restrictive, and so deny scope for necessary development, especially along the coast and in presently undeveloped areas.

As it stands today the long and underdeveloped Coast Line of our Country (about 7500 kms.) will remain undeveloped and also, a security threat unless we have realistic laws and regulations encouraging seafront activity and water sports by allowing for Coastal development, construction of marinas and resorts. This would result in greater economic activity and also, create more jobs. Even for the local fisher – folk in non-fishing activities.

 
It can be no one’s argument that if the coastlines of other countries can be developed right up to, and at times even into, the sea, only India’s coastline cannot.

 
 
 
 
It must be understood that environmental protection must also, allow for development, and the call should be only for such development to be sustainable and, in the end, perhaps even result in an improvement of the environment.

Conclusion

A budget lays out a fiscal policy that will remain consistent over the years and which encourages growth and employment and not be only an exercise in accounting and balancing revenues and expenditure. We need a comprehensive and equitable tax regime, and laws that encourages wealth creation / entrepreneurship, employment generation and circulation of money.

JAI BHARAT! – JAI HIND!

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