Next Big Thing India can do

The economy in the US has started turning around. There are still problems that needs to be addressed before US can fully stand on there legs. Europe is reeling under pressure except for few nations like Germany, and the Scandinavian countries. There a huge negativity exists in the US which we can see in the news daily about China. People in the US wants manufacturing jobs back to their country, but what can we do about it. We can do many things around this.As a country we need to define our manufacturing policy. If you happen to read the new paper recently Philippines is taking over some of the IT and BPO jobs. We being young nation need to get out of this hangover on IT services and get on to Manufacturing which  will have lasting impact on our economy. We the People of this great nation should force our government to adopt a manufacturing friendly policy. Some of the things Govt can do in this Budget according to me are

1. Give tax break to manufacturing for 10 years
2. Raise Tax on IT services from 0 to 1 %
3. Invest on Infrastructure not just telecom but Road, Rail, Water etc
4. Root Corruption out (For this we need to change Govt. Congress is the problem)
5. Encourage small business
6. Break Big Business.
7. Develop internal economy before opening up (Air Lines, Retail etc)
8. Encourage Indian Companies to acquire more companies abroad (not just ONGC, but more banks, engineering etc)
9. Set up Sovereign wealth Fund and acquire or invest on companies that are strategic to country
10. Device a plan to start manufacturing our own Aircraft and Fighter jets and depend less on foreign procurement.

 If we as a country start implementing some of these enormous amount of permanent jobs will be added and huge up-lifting of society will happen. This will automatically enable India to become a permanent member of UNSC rather than seeking support from all other countries. I think UNSC member ship is more of privilege than right as it involves spending money around the world. Further with out a stable and sound economy and happier people in the country there is no point in securing or garnering support for UNSC. This just undermines the entire country.