(IT IS A SITUATION WHERE FUNDS ARE BORROWED TO PAY INTEREST, INSTALMENTS, TO MEET REGULAR ADMINISTRATIVE EXPENDITURE)
STEPS – TO COME OUT
When one is surrounded by debt, first reaction will be on mind, it becomes dull, silent, and inactive, loses confidence etc.
I find some of the steps to come over the situation after keeping notice that the problem is there and it cannot be solved within a short period. It requires confidence along with preparedness for long, continuous, dedicated, disciplinary measures, prepared with sacrifice of some thing beloved.
- Identify the sources of Income.
- Identify the assets, investments, receivables, idle funds.
- Identify the leakages of inflow of funds, revenues,
- Monitor all the constituents of money, men, material, message and motivation mainly the out flow of funds for expenditure, payments, investments
- Identify the areas of the unwanted, unauthorised out of flow of funds in the near past. Take steps to recover back.
- Stringent actions against loss of revenue, unauthorised transfer, outflow of funds.
- Options may be given to wrongdoers to voluntarily rectify the mistakes done unwontedly.
- Monitor that revenues should not be less than expenditure at present.
- Create a special restructure/ growth fund with the help of funds received through Recovery of unauthorised outflow of funds, cooperation of well wishers, and voluntary declaration of wrongdoers to rectify their mistakes done unwontedly.
- See that major effect/ resistance is not there at lower, ground levels like loss of employment, price rise, shortages i.e., many has to be protected and taken into confidence that their interests are taken care off.
- Make all the constituents mentally prepared for longer disciplinary measures for bright future.
