If PM doesn't fix the economy, India will see a sudden rise in violent crime, food shortages, water shortages, suicides, civil strife, etc. A thread on how PM can fix the economy: https://twitter.com/DeanOfJio1/status/1303369495604588550

1. Since only the rich have spare money right now, declare that there would be no taxes on luxury items for the next 4 months. The rich would be compelled to spend money as the period is limited to only 4 months. The money would trickle down to the poor.

2. Declare that all religion based schemes at centre and state level are cancelled as India is a secular nation. The money saved should be used to eliminate GST. This would make doing business simpler and also make goods & services more affordable.

3. Develop a blockchain based e-Rupee system just like the Chinese e-Renmibi. This would keep a track of all the money, thereby reducing black money. Charge 1 percent for every transaction. The money collected can be used to reduce tax on petrol, thus helping the common man.

4. Declare that homes are for living and NOT an investment. One family can own only one home. Refer to Singaporean system for this. They have affordable high quality housing because of this rule. The surplus houses will lead reduction in rent in many metropolitan cities.

5. As houses are for living and not an investment, transfer of ownership of a house from a parent to a child or between siblings should not be seen as a commercial transaction. Hence, it should not be taxed. This would help the common man have additional income.

6. STOP printing 500 and 2000 rupee notes. Encourage digital banking. Transactions smaller than 500 rupees should not carry any additional cost for the next 4 years. This would make more transactions digital, which will help in the long run.

7. Legalise betting. The betting business is big and runs smoothly. All the profit money goes to Karachi through Dubai. Legalise it so that the money remains in India. Put a 5 percent tax on winnings (only). It's a win-win situation for the security agencies, govt. and people.

8. Bad health leads to slow economic growth. Refer Hans Rosling's lecture. BAN alcohol consumption within the country but allow its export. Increase taxes on tobacco and sugar. STOP palm oil import. Start a public health campaign against alcohol, sugar, tobacco and seed oils.

9. Lay down optical fibres in remote areas. Encourage people to move there & work from home. It's better to live in Rudraprayag & earn 25k/month by coding than to live in Bangalore & earn 1L doing the same job. Movement of people to rural areas would lead to spreading of wealth.

10. Simplify labour laws:

a. One labour law for the entire country. Simple set of laws for anyone to understand.

b. There will be a contract for employment between employer and employee. Govt. will enforce that in case of problems.

c. No minimum wage.

d. 10 days guaranteed leave on Diwali, Holi, Makar Sankranti, etc.

e. People between the ages of 12 and 18 can be employed for 14 hrs. a week provided their studies do not stop.

f. Employing an illegal immigrant will lead to jail of 15 yrs.

g. Sex work is not allowed.

h. Safety norms must be followed wherever necessary, even if not in the contract.

11. Start a time limited scheme where anyone can convert their black money into white by paying a 40 percent tax. After the time frame is over, anyone with black money will be jailed for 20 yrs. at least and lose all assets. Govt. servants will get harsher punishment.

12. Sell off a bunch of loss making PSUs.

13. India is a net importer. So, peg the INR at 50 against USD for the next 5 years. This would reduce volatility and help the common man by reducing cost of petrol. @SreeIyer1 also suggests this.

14. STOP CONSTRUCTING ROADS. Put money in railways and other public transportation. Throughput is higher that way. It is also more safe and affordable. Will reduce oil consumption too.

15. Slowly reduce the money spent under MNREGA. The goal should be to end the scheme within 5 yrs. It has lead to labour shortage in cities. Until it stops, use MNREGA to build water reservoirs in villages. Water security is essential for food security.

16. Renegotiate Indus water treaty and make dams. Pakistan can't afford war right now so they would come to the negotiation table. Ensuring food, water and energy supply is a national security issue.

17. Allow the farmers to sell their produce to whoever they want how much ever they want. Export of agricultural produce should be taxed more. Use that money to ensure food security for the poor.

18. Take over loss making pvt. 'engineering' institutes that are there in every gali and mohalla. Many would have loans or must have evaded taxes. Sell them off. Those that are suitable, must be converted to KVs. That should make schooling affordable.

19. Instead of starting IITs everywhere, start medical colleges. India has a shortage of doctors. This would reduce cost of health care eventually.

20. Soft drinks and western fast food should be taxed more for health reasons. Or India will become diabetes capital of the world. Bad health leads to bad economics.

21. PF is mandatory. It worked well up till now because there was a high population growth. But it won't work well in the future because such systems are based on 'infinite growth' model. So, PF should not be mandatory. Give people a right to spend their money as they see fit.

22. BAN cow and buffalo slaughter. Each kg of beef requires 15000 liters of water. India is the second largest exporter of beef. Is it a wonder why we have water shortages? Water security REQUIRES a total ban on beef production.

23. Send back illegal immigrants. India has a right to do so. Less people means more resources for all. This was also promised by the PM during his 2014 election campaign.

24. Connect ports of India to the hinterlands using dedicated freight corridors. Bad supply chain of India is responsible for us not being competitive against China.

25. Start vocational training schools all over the country. Many countries are aging, like Japan, Germany, etc. India can promise them a supply of nurses, plumbers, etc. Kids can be taught a foreign language of their choice in vocational training schools right from 8th standard.