Imports of all non-essential items should also be banned immediately. On those items should be allowed which we either cannot make ourselves and need to survive and grow (essential edibles, machines, computers, medicines etc.) or those which we need to support our exports (raw materials, chemicals etc.). Do we absolutely need, and deserve the 30+ odd Vehicle Companies which will sell here and repatriate all profits in USD back to Japan/China/Korea and so on?
We should ideally be importing only as much as we are exporting (USD 40 Billion should be the criteria today). And that's what we should maintain so that we grow our exports to satisfy the greed of importing luxuries. The remittances should be earmarked only to increase our federal Forex reserves and to service debt. We also need to enact a 1-child per family starting this year for all new families and have the law there for the next 10 years; control population growth which is breaking our backs.
We do that for 10 years and I am sure things would be very different.
P.S. The perks given to bureaucrats are not really that high. It's the overheads, the illegal, under the table or otherwise perks which are not a part of remuneration that are a big problem; to this end, we will need to eliminate corruption and nepotism.
