Former Union minister and Rajya Sabha member Subramanian Swamy on Friday asked the Telangana government not to make farmers dependant on the government but focus on increasing their purchasing power.
Mr. Swamy was speaking to media persons on the sidelines of the annual conclave of Indian Exhibition Industry Association.
Taking questions on the Telangana government’s Rythu Bandhu scheme, the BJP member of Parliament said: “More than input assistance and anything else, the government should concentrate on increasing purchasing power of farmers. I think a better thing would be to give them higher price for produce and encourage them to start exporting. Because they then will earn six, seven times more.”
Delivering the keynote address at the conclave, Mr. Swamy said that with Uranium running out of stock, Thorium would soon replace it in nuclear reactors. He said that India has 60% of the world’s Thorium. While research on Thorium in India was in progress it came to an end after the Indo-American nuclear agreement. He said that, if revived, India will have an abundance of clean energy not only for itself, but also which can be sold.
To solve the issues of poverty and unemployment, the country needs a 10 % growth rate for a period of 10 years. “In simplistic terms, you either increase the rate of savings to a higher number, or reduce inefficiency in the use of capital. It is within striking distance to achieve a 10% growth rate,” he said. Mr. Swamy also called for abolishing Income Tax.
