Economic Liberlization and Reformation

Economic liberlization and Reformation
Posted May 4, 2011


RBI has announced change in repo rate , Savings interest rate to control inflation and to cure sick economy. Such changes have been announced 10 times during last twelve months by RBI and still the growing sickness in the economy and hollow nature of proclaimed growth in GDP is a matter of concern for all right thinking persons and groups. As a matter of fact RBI and Ministry of Finance are simply reversing the wrong stimulating steps taken by them in the year 2008 to counter or to mitigate the adverse effects of so called global recession.Government used American Financial crisis or Subprime crisis to extend undesirable benefits to corporate sector from whom ruling party gets election fund in thousands of crores of rupees.




As long as human being sitting at responsible posts are corrupt , all policies framed for developments fails on the ground.



Air India is charging airfare higher than private airline though quality of service extended by private airlines is far better than that of Indian airlines. Still survival of Indian Airlines is at stake because they are to incur losses in the tune of thousands of crores of rupees. Pilot officers are on strike for last 8 days despite court order against strike.

Similarly BSNL is enjoying all special privileges compared to private telecoms providers but BSNL is running in losses in hundreds and thousands of crores of rupees. Payment to employees in government sector may be higher or lower than private sector telecom providers but the services of private sector are invariably better.

Similarly government run banks are though showing profits, they are rated inferior by customers because of their inferior service. Government has to infuse capital year after year to weak banks, give relaxation in provisioning and disallow considerable hike in salary once in five years. Bank management in government sector are not in a position to make adequate provision for their retired employees to pay pension. These public sector banks have to conceal bad assets in lacs of crores of rupees because bribe led lending made by corrupt top officials goes bad in a year or two of lending. Bank employees have to work twelve hours a day violating all labour laws because banks are not in a position to allow fresh recruitment even to replace retired employees.

Position of Coal India, Steel Authority of India and many public sector undertaking is not that much good as they should be. There is large scale loot in all the departments. Politicians are looting them to such a large extent that their survival is at stake.

Such is the pathetic position of almost all government sector departments, public sector undertaking except a few Navratnas. Even navratna companies are showing symptoms of deterioration due to large scale misuse of them by dirty politicians.



It is perturbing that all such loot is possible and persisting and growing year after year under the umbrella of policy of reformation, liberalization and globalization. All talk of GDP growth or inflation control by learned Prime Minister Mr. Manmohan Singh PM therefore looks absurd.

Neither problems of unemployment are solved nor is poverty of poor eradicated during last two decades of reformation. Price rise is beyond control. Expenses on study, medical treatment and purchase of home have gone beyond the reach of common men. Only rich people, corrupt politicians and corrupt officers are real beneficiaries who constitute hardly 10 per cent of Indian population enjoys the fruits of so call reformation .Actually it is the loot and loot only which perpetuated, promoted and protected by corrupt officers and corrupt politicians for corrupt officers and corrupt politicians in the name of secularism and democratic principles.

Congress Party which has ruled for almost fifty years has masterminded all loots in all sectors. Even Prime Ministers present as well as past have accepted the bitter truth that level of corruption in India crossed limit of tolerance of common men. But there is none in India who hold power serious to look into problems and pain of corruption faced by common men. Congress party blames BJP for all misdeeds.

Congress party in the name of secularism and parliamentary democracy is allowing all evil works to political workers of congress party and officers who indirectly support the chain of evil works. Time of Parliament and State Assemblies are spoilt in mutual mug slinging by elected representatives or for mutual gain or in playing mutual blame gain without doing any work to pain of common m mitigate public hardship .


Now only silver lining is that Anna Hazare has taken initiative to create a fear among evil doers. At least some debate and discussion on rampant corruption has been ignited by team of Anna Hazare. Let us see how far their pious movement succeeds in real life.

God bless Anna Hazare and him team.

1 commentPosted in FinanceTagged as rbi policy, corruption, bank public sector, air india pilot strike, bsnl, sail, and navratna
Comments
1 vivek May 6, 2011
How is it possible that fake pilot officers are recruited in India?

IAS and IPS officers are transferred at the whims of ministers.
Judges are selected not on merit but on recommendation.

Why banks are allowed to recruit officers in higher scale depriving senior experienced officers available in banks? Is it a direct permission to top ranked officers to earn through recruitment?

Do anyone know how much cash is required to be paid by aspirants for the post of ED or CMD of a Public Sector bank to various top level dignitaries?

Is it not true that high level source and recommendation of some ministers is enough to become director, ED or CMD of a bank or a Public Sector Undertaking?
In fact one has to pay for getting posting and promotion too in all government departments, in police department, in banks, in insurance companies, in schools and colleges and in brief almost in all offices.

Even teachers are recruited as per whims and fancies of MLA, MP and minister of the area in which school is located. Posting of BDO, CO DC, DM, SP and all IAS and IPS officers are done by group of ministers after taking money in some way or the other.
Similarly when top officers of a PSU are selected by Interview panels only after paying money, such officers will definitely try to recover the same from his subordinates.

People who come by paying money try their level best to earn money as much as possible.

Similar is the position of MLA and MP who earn illegal money to become MLA, MP and ministers.

Why do all ministers put verbal pressure on corporate houses and recruitment bodies in government offices to give employment to their kids, friends and relatives?

Why CBI officials going against government are posted at critical laces and officers who provide safety to corrupt ministers and corrupt corporate houses are promoted violating policy and given choice posting?

Officers have to pay cash or gift invariably for getting recruitment or posting in top positions in addition to use of recommendations from some important and powerful person. Due to this, quality of workforce has faced great erosion practically in all offices.

Management of bank and public sector undertaking k is thus creating frustration and disincentive among good officers who are being rejected not only in promotion process by greedy top officers but humiliated by newly recruited direct bosses.

Is it not harmful for the health of public sector undertakings?

Such unhealthy practices are root cause of all corruption and still PM of India you continue to watch Chirharan of Draupdi as he and his team of ministers did in 2G scam?

Even President of India or a Governor of a state, or director and CEO of a PSU is handpicked by ruling party to serve their vested interest and honest performers are posted at critical places for some reason or the other without taking into account the capacity to perform or knowledge of the person or the past background of the person.

It will not be astonishing for anyone in India if ruling party appoints Mr. Kalmadi or Mr. A Raja or Mr. Madhu Koda or Mr. Lalu Yadav as Governor of a state in near future

It is not abnormal when a corrupt General Manager or ED of bank of PSU who gives bribe to Secretary or Minister is appointed as ED or CMD of a bank or a PSU.

In fact merit is always the victim and Indian courts are not in a position to do justice for such victimized persons who are denied their right of recruitment, promotions and posting at better places.

Even officers in vigilance department or in CBI or Anti Corruption bureau earn money by treating guilty as innocent or work under the pressure and advice of top ranked officers and minister who can make or mar their career.

As such I always say that root cause of all corruption in our country is the prevalent malpractices in the process of recruitment, promotion and postings. Flattery has become the master key to enter the process and then money plays the vital role in getting the desired employment, desired posting and desired promotion at the cost of quality people, talented people and devoted honest workers.

And hence Central Bureau of Investigation should be instructed to investigate thoroughly the process of recruitment, promotions and posting of last 20 to 30 years and try to punish all top ranked officers who committed crime of handpicking corrupt officers for promotion and posting at good places and who created bad culture in government offices by promoting flattery culture.

Why officers feel pleasure in extending red carpet welcome to his bosses is an open secret and hence I need not enlighten elaborately much on this subject.

It is open secret that crores of rupees are spent illegally in welcoming a top official or departmental head or a minister almost by all departments and government owned offices companies and bodies. There is none to stop such unhealthy culture which is mother of all corruptions, scams and scandals.

Need of hour is to snatch all discretionary powers invested in top officials related to transfer, posting, promotion and recruitment.
It is necessary to abolish the system of Interview for all in-house promotion systems.

It is seen that top officers seldom gives respect to merit and such powerful officers gives weightage to either bribe or recommendation of some other VIPs . As a result, such powerful and so called responsible officers rape talented and sincere performers and that too in the name of Merit and suitability.

It is therefore necessary to bring about as much transparency as possible in all such processes.