Open Letter to Railway Minister of India Shri Piyush Goyal
Open Letter to Shriman Piyush Goyal Ji,
Hon’ble Minister of Railways
श्रीमान पीयूष गोयल जी,
आप मेरे
लिए सबसे महत्वपूर्ण व्यक्ति हैं क्योंकि आप चार्टर्ड अकाउंटेंट हैं और मेरी
रिसर्च को एक चार्टर्ड अकाउंटेंट ही मूर्तरूप दे सकता है। वो दिन, यदि वो कभी आया, तो मेरे जीवन का सबसे
महत्वपूर्ण दिन होगा जिस दिन मैं आप से मिल सकूंगा।
Sir,
My deep research of years reveals following critical
facts that can change the way economy works worldwide and that is –
1. India and all nations of world, as
per their size, possess Natural Resources and Concrete and Financial Assets worth
a humongous amount. Natural Resources have been gifted by Mother Nature free of
cost and nations have built concrete assets and amassed financial assets since
their civilization came in to being. New assets are being created constantly
both in Private and Public domain.
2.
Due to many complexities value of
natural resources and assets has not been computed by any country. Therefore, nations
are not able to make their Balance Sheet which is the authentic document showing
Total Assets and Total Liabilities and Net Worth of the country.
3.
Hence in absence of a Balance Sheet nations
depend on two financial documents – Budget and GDP. Budget is like P&L and
reflects Revenue and its expenditure. GDP is value of Goods and Services
produced in a given period. Thus none of these documents reflect total value of
assets a nation possesses.
4.
Sir, thanks to my lifetime (59 yrs) business
background, I have been able to devise a method that enables computation of
value of all assets and resources of a village, town, city and metro. On consolidation of values of villages we can
get value of a District, State, Nation, every Ministry of state as well as of
the Central Government. I have compiled
a document giving full detail of the Methodology developed by me. It is a 650 pages document. Sir, I want to send it to you for your review
and for your valuable contribution to make it fully implementable. Kindly
accord your permission. Once the methodology is perfected then it can be used
for valuing assets and resources of all the countries of world.
Sir, as a sequel to the position that value of Assets under the
control of every Ministry can be computed, an important question has
arisen. It can be safely assumed that
Ministries have control over Lakhs of Crores of assets. Your own Railway
Ministry owns the largest network of Railways in the world cost of which would
be in lakhs of crores, or Trillions of
Dollars. When Ministries have such high value assets then why it is that they
have to draw money from Budget to meet their operational cost or revenue
expenses?
Sir, at this stage I wish to draw your kind attention to my Open
letter to Prime Minister Shri Narendra Modi ji (copy enclosed). As a business
executive my observation is that while duty of a CEO in private sector is to
EARN commensurate and maximum return from the assets and resources given to him
by the Entrepreneur, a Government Minister is merely a SPENDER. He does not
even know total value of assets and resources at his disposal. Government Ministers spend easy earned Tax money
collected from hapless people. My sincere desire is that our Ministers also
turn in to CEOs like that of Private sector and start earning revenue from the
vast resources at their disposal.
For example, you head the largest railway network in the world
still you have to take support from the budget to meet revenue and capital expenses
of your Ministry. If I have read correctly your budget for 2019-20 is as
follows:
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My understanding is that you are taking support of a huge
amount of Rs. 66768.67 Crores towards revenue expenses and capital expenditure from
national budget. I stand to be corrected if my interpretation is wrong, sir. As
per my theory your ministry should give commensurate return on total investment
in your Ministry to national exchequer instead of taking support from the
Budget.
As a CEO of Private sector I wonder why Railways do not
pursue a business plan that can generate huge surplus and give support to
national budget rather than casting a burden on it. Certainly so because Railways are running one
of the largest commercial enterprises producing goods and services like any
commercial venture. This surplus shall not only reduce pressure on budget but
provide support to meet expenses of other Ministries who cannot generate
surplus.
If all Ministries adopt the practice of ensuring
commensurate return from investment in them then they shall be reducing
pressure on tax revenue. And a day may
come when country can be totally Tax-free country by earning revenue from the
huge bank of its natural resources and concrete and financial assets. Kindly
ponder and see if there is any such possibility.
I am too anxious to send you the methodology developed by
me to compute financial value of all natural resources and concrete and
financial assets. Kindly accord your permission.
Knowing value of assets of every Ministry shall be the
stepping stone to start an exercise to plan as to how to earn commensurate
revenue from national assets doing away with the need to tax citizens of the
country.
With respectful regards,
M.K. Agarwal
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