Irresponsible dealing with public money

Irresponsible dealing with public money

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Ashok M started this petition to Honorable Supreme Court Of India and

Dear All,

Namaste.

My name is Ashok and I am Chartered Accountant by profession. Some of the recent announcement by some political parties to provide financial aids in different form made me too much worried about. These kind of financial aids are certainly waste of public money to achieve the political mileage and is nothing less than illegal mean, like cash-for-vote, for election propaganda. In previous election in some states a C Party President had announced loan waiver for farmers within few hours of coming into power but the beneficiaries have yet not get money, most of them are struggling. The previously committed farmer loan waiver scheme, if implemented in those 4 states, will have approx. aggregate Rs. 130,000 crores additional burden on states’ treasuries and citizen of most of the states will have increased debt burden or be the state will be at a verge of insolvency. It doesn’t stop them, there was yet another announcement by the same party’s president to pay Rs. 72,000 per annum to poor families, expected number of beneficiaries are 5 crore. Putting in simple mathematics, if implemented, it will cost Rs. 3,60,000 Crores. (Rs. 360000,00,00,000) and on top of that, who will be actual beneficiaries (may be like 2G scam, Coal Scam, etc.)?

The foregoing is all about the numbers, however, having learned basics of economics, these are unproductive expenditure, meaning these are not adding to GDP. Further, considering socio-economic aspect, this will demotivate people to contribute to economy and will result in waste of great human resource as they are being discouraged to work. It is important to make country poverty free by putting genuine efforts to build capabilities and encouraging youth, which will be beneficial considering long term vision. One thing should not be forgotten, that the party president whose party ruled for more than 55 years since independence is making this kind of announcements which itself is an acceptance that their party has done nothing to remove poverty but there were this kind of senseless efforts to keep poor always poor.

 

At the last, would like to request you to join the petition to make representation to the appropriate authority to discourage and eliminate this kind of practice to save public money and cheating innocent people for vote.

I this regards, I am planning to file petition to supreme court to save country from this kind of nuisance. In case anyone wants to contribute, please reach out to me.

Regards,

Ashok

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