We are in the year 2015 and what happened way back in 1950-51 doesn’t matter!

Does it?

Well, trust us when we say that it is an important part of our history as a country and makes a big impact on our economy as a nation.

That was the year when independent India’s first Budget was released and one of the liabilities mentioned in Balance Sheet of India there was a huge amount of Rs. 300 crore due from Pakistan on account of share of pre-partition debt!

Now you get the idea what we are talking about?

Just imagine, from that year onwards, this entry is regularly made in the books and Pakistan has never paid it off despite India paying off its share of Rs. 50 crore soon after independence!

May be Rs. 300 crore is not a huge amount in today’s scenario where in other debts goes in lakhs of crores but in 1950-51, this amount was more than 10% of our total liabilities. In fact, it was almost 10 times of the country’s total external debt! How big is that?

Shall we give you an even bigger shock?

The government of India has kept the figure of Rs. 300 crore just like that even today, and has added no interest to it! Which means as average citizens, if we don’t pay on time, whether it is our taxes or loans or anything, we have to pay penalties and interest and what not. But for Pakistan, if they ever decide to pay, they are not required to pay any penalty or interest on this outstanding.

The amount was humungous in those days and even today it can come handy in financing various social initiatives to help make life of our citizens better in some manner at least.

So what are the government’s compulsions of not asking Pakistan to pay back what is rightfully ours? As far as other contentious issues are concerned regarding border, terrorism, Kashmir etc., they will obviously take time to be solved, but financial claims must be cleared. After all, Pakistan is getting billions of dollars from America and various other countries. It shouldn’t be a problem for them to pay off the basic principal if not with interest!

As a nation, we are trying to make relations smooth with our neighbour, taking steps to enhance the business relations, but then it doesn’t mean that we should not get back what are our legitimate dues!

The other option is for the government of India to show magnanimity, and write off the entire liability as charity to that country! That way we can really show that we are the big brother and we can afford to help out the ordinary citizens in that country even if they are routinely back-stabbing us!

But in that situation, will Pakistan ever accept India as Big Brother?

The answer is more towards the negative.

Well, let’s see when does the government act to make its books leaner and cleaner!

The post What Is So Peculiar About India’s Balance Sheet For The year 1950-51? appeared first on Youngisthan.in.

China’s parliament led by the National People’s Congress (NPC) has done something again to irk India’s complacent attitude towards the burgeoning arms race.

The NPC has sanctioned a new defence budget for the FY 2015-16 by hiking their annual expenditure on warfare armaments and logistics by 10.10% to a whopping US$ 145.68 billion (888.69 billion Yuan).

Why This Is A Resounding Alarm For India?

To keep it short, India’s defence budget is merely one-fourth of that of China. It comes down to INR 2,46,727crore for the FY 2015-16 (US$ 39.80 billion).

Despite increasing incursions in the North East of India, India seems to be promoting more of industrial growth and is paying no heed to the surmounting pressure of being attacked by China in a possible collaboration with Pakistan which is getting support aids from the US.

The People’s Liberation Army (PLA), the China navy (PLAN) and the Chinese air force (PLAAF) now have all the more reasons to attack India with full force.

Why Is India Not Doing Anything About This Incumbent Issue?

Simply put, India is battling overpopulation and inflation. Prices are being hiked for basic amenities whereas the rich go scot-free when scams are unearthed.

Not only is the value of the Indian Rupee declining drastically on the global platform, India’s defense budget always lacks the power to challenge its neighboring countries in terms of fire-power.

Having a few AGNI’s and the world’s third largest military won’t cut it, India needs more fighter planes and warships, deals for which we all know are stuck in unsurmountable red-tape and cross-country mumbo-jumbo.

A Few Facts And Figures

• China’s first stealth-fighter warplane was introduced this January way before the assumptions of the Western superpowers.
• China’s defence has 2,285,000 personnel whereas India has only 1,325,000.
• China has 6550 battle tanks whereas India has only 4047.
• China has 1907 super-striking combat aircrafts whereas India has only 655.
• China has 65 submarines and India has only 16!
• China has 80 surface to surface attack warships whereas India has only 45.
• China’s older defence budgets were around $70-80 billion and now they have crossed the three-figure mark at $131 billion, India still languishes at $45 billion. Saudi Arabia has a stronger budget than India at $80 billion!

If these facts and figures are not enough to wake up India, maybe Mr. Modi should remain tight-lipped and not challenge the Chinese army when it traverses into the Sino-Indian border or tries to take over Tibet for good.

Remember the pre-LokSabha election period when Modi went berserk at the Chinese government’s defense of its troops entering India? Maybe he should keep quiet for now and amass a worthy enough budget for arms and armaments before challenging India’s biggest threat – China!

Yes! Pakistan is nowhere near the firepower China holds in its realms! Wake up India, before you lose Ladakh and end up inside an uninvited war!

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