With the Rupee value falling in global market Home Loan EMIs has already gone up. Inflation is effecting every sector from vegetables to electronics to motor vehicles. We know who are responsible for their weak policies and lack of foresightedness. For that we can elect a new fresh political party but that will take time. But we can do something today that will bring change. A small effect, a small value addition will be there:
- We have to start conserving petrol i.e. min. usage of petrol vehicles. India purchases dollar from America for purchasing petrol from Gulf countries. Dollar is the currency in which any other country can purchase crude oil from gulf countries. America has been good in making these policies so that there currency should be in demand in global market. They are doing what they should do in order to make their economy grow. Nothing wrong. But if we use less petrol then we do not have to purchase dollar from America at a bigger price to purchase oil. Every drop of oil we save will save some paisa and see the bigger picture that we will be able to save lot of Indian Rupee.
- Start using the Indian products as much as possible. That will make sure that Indian currency is staying within India. We may not have competitive Indian products in all sectors but try to find out good Indian brands and use their products. I have seen lots and lots of good products from "Patanjali Yogpeet" (Baba Ramdev's). They provide the organic products and at a much cheaper rates. Product range varies from cooking oil, spices, food supplements, medicines, soaps and many more.
- Encourage the Indian small scale industries. In market we will find lots of products which are home made products coming from some urban or rural areas. We need to promote them for more employment opportunities in India.
- Start investing in India based companies i.e. purchase their shares and bonds so that it can make them strong and more competitive in international market. The money which we put in their share that money they will use to bring quality products in market and in turn we are going to get the good quality products.
- Put your savings in Indian banks to make them stronger. Take loans from Indian banks so that that interest rate money stays in India.
- Promote exports i.e. selling Indian products to other countries in that way we will get some cash inflows which will make a strong Indian economy.
- Unite and love India. This is much more needed at this time. Forget the past and make efforts to make a strong country. Japan is the biggest and successful example where its country men made it much stronger than before atom bomb attacks.
We are weaker from inside. Foreign powers will not be able to break us if a war comes but we will fall (there is no more ‘may fall’) due to economic crisis.
I may have less knowledge but I learnt that if I don’t act today then I will be only blaming others for a destroyed future. Nothing can be done at that time.