Dhan Vapasi or universal public wealth return promised by Nayi Disha will ensure prosperity for all Indians.
“Dhan-Vapasi” or universal public wealth return promised by Nayi Disha will ensure prosperity for all Indians. Currently, the Central government alone runs about 950 scheme for poor and disadvantageous communities costing trillions of rupees annually. Dhan Vapasi will reduce this burden on the government and allow it to focus on its core functions of maintaining national defense and providing public infrastructure. We give 4 reasons on why “Dhan-Vapasi” will bring prosperity to all –
1. People make better decisions than bureaucrats
Individuals have an incentive to spend their money in the best way possible. They know what will benefit them the most than any bureaucrat sitting in New Delhi or s state capital. A failed investment brings losses which directly affects the households. Government officials, on the other hand, do not face these risks. If the investment or scheme fails, the costs are passed on to taxpayers in the form of higher taxes. Thus, we can expect families to invest their money in getting better health, education and make productive investments in a business, etc. Government is sitting on crucial resources and is intentionally withholding them from their rightful owners – we the people. It is time we take control of them back in our hands.
2. Dhan Vapasi will increase choices
The return of public wealth will allow households to spend their money in any way they please. Presently, the government provides things and services which most people may not need. The Antyodaya Anna Yojana provides cheap food to millions of poor people. Some of the beneficiaries may not want food but still get it. With money, the people will be empowered to choose what they need.
Poor households in India face a major resource constraint which shrinks their choices. This is evident from consumption figures which reveal that only 10 percent of total monthly expenditure for the bottom 20 percent goes into health and education. The same figure for the top 20 percent is more than 15 percent. Majority of the income of poor people is spent on essentials, leaving little for investments that could generate new income streams for households.
3. Dhan Vapasi will increase productivity
Dhan Vapasi will have an enormous impact on the Indian economy. These are the secondary effects of the public wealth return. The wealth return will help individuals, farmers, and industry at large. A greater demand spurred by people will help the expansion of industries leading to a considerable increase output and create more jobs. In addition, since public wealth return will be funded by gradually liquidating the resources currently misused or unused, it will boost the overall productivity of Indian economy.
4. Transitional justice will be achieved with Dhan Vapasi
“Dhan-Vapasi” is largely aimed at correcting the inequalities that exist around us not by chance but by systemic discrimination that has existed in the Indian society for hundreds of years. The return of the resources that were captured by force from the people of India will ensure that our future generations do not have to suffer discrimination based on religion, race, caste, sex, or place of birth.
Dhan Vapasi will give families the opportunities to achieve upward mobility and overcome historical barriers that have prevented them from becoming prosperous. It’s no hard science that economic power is the determinant of a household’s standard of living. Since the reservation policies in India are inherently discriminatory, they have failed to achieve an equal society. In addition, the economically powerful section of the lower castes mostly enjoys most of the benefit of current reservation policies. Dhan Vapasi will help in reducing both problems.