Nitin Gadkari, transport minister of India, is borrowing a huge number of dollars (Reference). He will use these dollars to build roads, highways, tall skyscapers, etc. Reference. This act will mostly benefit Gadkari and his close friends; the indian citizen will be stuck with a huge debt to be paid back in foreign exchange.
I would have no problems with these constructions if a private party was building them; because then the Indian citizen does not have to repay the loans. I would have a much smaller problem, if Gadkari was borrwowing in rupees and payment was to be made back in rupees. This way at least the profits will remain in India. But, Gadkari is borrowing in foriegn exchange. This is a big problem. Indian rupee has been falling. It will likely continue to fall. So this means Gadkari's plan will drive India to bankruptcy.
Highways, tall buildings, etc primarily benefit a select few; while the whole country is laden with debt. So Gadkari's plan needs to be discussed in more detail before implementing the same.
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