Thread by @sri9011

My father used To narrate the story of his colleague. Every month he used To buy Indira Vikas Patra for Rs. 500. In those days, rate of interest was 12%. Every 6 yrs amount invested would double.
His colleagues used To laugh "500 se kya hoga" 1/n

He did this religiously for 6 years. Then in next 6 years, every month he used To get Rs. 1000 maturity of what he invested in last 6 years. As he was getting salary, he didn't need this money for monthly expenses. So he renewed his IVPs. 2/n

In next 6 years, he got Rs 2000 pm from IVPs maturing which he again reinvested for 6 years.

This, when he retired, he got a decent pension from IVPs.. Bearer certificates... so one can take cash and not pay tax. And this was in addition To pension from RBI

All this the result of 500 pm for 6 years

Economics is all about starting early and being consistent and relentless as Economic karma is reaped with a time lag is what I learnt from my father who stated as clerk and retired as Assistant General Manager

Those who expect 67 years of inaction and bad karma To disappear in 60 months are mahamorons.

IBC of 2016 is bearing fruition now. No reason why this couldn't be passed in 2005.

Corporate tax cuts could have been done from 2004 To 2014. You do it in September ++

++and want results in November? NOT DONE.

GST of 2017 provided you base for Article 370 in 2019 and for instant finance for MSMEs from GST e-invoicing in 2020.

GST of 2017 helped you get FDI in. Logistics and warehousing

Saying China is dictatorship and we are democracy is fair argument.

But there is no excuse for starting full 13 years behind China when we had stable majority between 1980 and 1989.
Again, no excuse for losing a decade from 2004 and 2014.

I don't want India To copy China's dictatorship.

What I want India To copy is "Start early and work consistently"
#Economy