Beyond the MONETARY LOSS this Monsoon Session

The current on going Monsoon Session is completely washed out by the acts of political parties. The on going continous protests and adjourments by the congress-led opposition  has not allowed the smooth functioning of the house. The maths behind this Monsoon Session is shocking. This Monsoon Session of 18 working days has been disrupted and an estimate of Rs 35 crore of the tax payers is lost. Each minute of the parliament is very precious  and it costs  nearly Rs 29000. Beyond this Monetary loss what is the REAL cost of disrupting parliament? This wasted session was not new to the nation but it we need to realise that it actually costs us more than it seems!!!

Firstly if the Goods and Services Tax (GST) is not passed then it will be rolled out in April 2016. The estimated benefit of GSt regime is between 1%-2% of the GDP, which amounts to Rs 1 Lakh  crore to Rs 2 Lakh crore  benefit per year being foregone by the economy for every year of delay. The loss to the government revenue is estimated about Rs 20,000 crore to Rs 40,000 crore per year which can actually fund  50%-100% of the Rural Job Gurantee Scheme. Since all consecutive sessions are being disrupted parliament is not  focusing on other important and crucial policies important for the economic growth and development of India.

The most important Education sector which needs urgent attention is being ignored. ASER reports suggests that  half of the 5^th grade population can’t read and write in a particular language. Also Higher education sector  is facing hurdles and government needs to work on the quality,capacity and infrastructure.

Other sectors like Health Sector also needs serious fundings , the state of Public Health facilities have worsen . The Bank Sector is of a major concern  where as Judiciary System has further slowed down . Nutrition levels in India are among the worst in the world.

The cost of these disrupted sessions have adverse affects on the other policies and schemes which needs more attention. Its has a  great negative impact on the growth and development of the economy. By saying “ Time is Money” we are actually wasting both time and money which could have been probably  put in the policies which could lead to welfare of the society.

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