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Submitted by denis khan on
At the Pittsburgh G-20 Summit, PM reportedly stated that there is no economic crisis in India. At the grassroots level,however, the common man is facing huge price rises in essentials, eroding his consumer power. On 22-5-08, the Times of India published a report that about 70 lakhs crores rupees of India are lying in Switzerland banks. In 2008-09, the Centre’s total expenses increased by over Rs 1.5 lakh crore (from Rs 7, 50,883.53 crore in 2007-08) to more than Rs 9 lakh crore. At the micro level, the chronic small change shortage is fuelling the parallel black market economy. The 50 paisa is the lowest coin in circulation. The Govt. should accelerate return of this money to India. This will mitigate the approximate Rs. 4 lakh crore expenditure, and trim taxation.