Rahul Mehta Gandhinagar LsCandidate

NaMo, SI and AJ take $ 1 biillion = about Rs 6000 crore loan from WTO in the name of children's education, and push India further into debt trap.. And Congress\AAP has been supporter of this debt trap.
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see link in comment --- jagranjosh . com/current-affairs/india-signed-loan-agreement-with-world-bank-for-sarva-shiksha-abhiyan-iii-1401428253-1
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All debt is good, except when time comes to repay with interest. A debt on govt is much better, existing govt can spendlavishly using that debt, and next govt or next generation will have to pay. A repee debt on Govt India is still bearable as GoI can print rupees anyway. But a dollar debt on Govt of India at the time of repayment can create a serious forex crisis forcing the govt/nation to sell away all its minerals, give wide field to missionaries and accept other conditions on weakening its maths\science\engineering education. This in short is called "forex debt trap".
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FDi is worse than debt trap and I explained in my status a few days back.
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Since 1950s, all leaders in India have been taking debt in dollars despite known drawbacks. And on 29-may-2014, one more small step in that diection --- NaMo, SI and AJ signed papers on Govt of India taking about $ 1 billion = about Rs 6000 crore from world bank in the name of noble cause educating kids !! The reality is --- dollars are needed to fund imports, whether necessary imports or unnecessary imports. And so NaMo govt decided to take loans. And now it will be left to next govt or next generation on suffering if they cant pay this debt.
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The excuse made behind such loans is that "Govt doesnt have money to pay for education". well, Govt can always raise funds by wealth tax and removing excise, VAT, GST etc. But like Congress\AAP, NaMo has no strength nor desire to switch to wealth tax. And so forex borrowing under different noble causes goes on , just as Congress did and AAP would have done. RSS-apex and its Swadeshi Jagran Manch often opposed Congress' decision to take loans in dollars. Now they are all supporting NaMo's decision to tale loans in dollars !!!
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Forex debt on India is approx $ 300 billion. So this $ 1 billion loan only pushes India just 0.3% deeper. But more loans are coming that will push India further deep into mess.
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Solution I propose to enact a law that Govt cant debt any debt. This goes back to basic ethics --- that debt of person must die with him. In case of debt on Givt, debt passed from one generation to another, and so it is unethical. Most paid-economists oppose thus proposed law-draft.
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If you support NaMo's decision of taking loans in dollars then all is fine. If you oppose, then pls order your MP via SMS with appropiate URL to cancel this dollar loan.