Sunday, July 8, 2012

Why India and Indian Feel Proud in Begging

If a person gives alms to a beggar everyday for years together, it becomes a way of life for the beggar. Beggar is thus used to and addicted to getting easy money without making any labour to get it.

If all of a sudden the donor stops giving arms due to his own fiscal problems, the beggar may claim the alms as a matter of right, claim the alms from donor threaten the donor of dire consequences and ultimately blame the donor for making his life miserable.

Similarly after 2008 subprime crisis which originated from USA and European countries, government of India headed by Great economist Manmohan Singh donated billions and billions of rupees to business men in the name of stimulus package. Several tax concessions, subsidies and interest relief were provided to businessmen, CRR and SLR were reduced to enhance liquidity in the system and extended all types of relaxation to foreign investors to increase Foreign Direct Investment.

As a result of unwarranted stimulus package extended by GOI to corporate sector to give a boost to the economy , businessmen as also bankers  are now addicted to same and therefore interested in continuance of all relaxation, reliefs and subsidies and even more  enhanced stimulus package notwithstanding the fact that the same has proved to be counterproductive, self destructive and finally suicidal act for majority of Indians in a span of a few years only.

Now when the financial crisis produced by the stimulus package is trying to disturb the economy badly and when government of India is trying to curtail the stimulus package gradually, the same business men community who were addicted of getting alms in way of tax relief, interest relief and subsidies and who were tuned to live lavishly and spend freely are now without any hesitation demanding continuance and increase of alms in the name of stimulus package.

Businessmen who accumulated wealth equivalent to hundreds of crores of rupees in last few years without making hard labour in the same proportion are now demanding same alms from the government, blaming government of policy paralysis and finally accusing government of creating current financial crisis.

It is pity that India which had nourished a dream of becoming number one in the world, the same India after 60 years of freedom has become dependent of FDI for survival of Indian economy. Manmohan Singh led government is so much hungry of FDI that it is ready to discard Mamta led Trinamool Congress and admit corruption ridden Mulayam , Lalu and Mayawati in UPA for survival of not the Indian economy but for survival of Congress Party and UPA government.

Manmohan Singh who is considered as Doctor in Economics has absolutely failed to make India self dependent, self reliant and self sufficient. He failed to increase domestic savings and domestic investment to give a boost to agriculture production, industrialization and in creating employment opportunities in India. It is pity that Indian talent are going abroad to boost up the economy of foreign countries and Indian businessmen are now giving preference to investing in foreign countries to boost their own profits.

Manmohan Singh led government may claim of helping poor by MANREGA but in fact it failed completely to create permanent source of income for rural or urban poor at their location. It failed to provide quality education and quality medical treatment at affordable price to economically backward Indians. It failed to provide even pure drinking water, permanent electricity and sanitary arrangement to 100 billion Indians. It is ridiculous the policies which are solely responsible for growing sickness in the economy are being prescribed as medicine to cure the sickness. It is bad luck that still MMS is proud of his policy of reformation and ready to provide the same as medicine to critically sick economy

 Poor and rich both are now addicted of getting subsidy, one for their survival and other for their growth. Government is however hungry of FDI not for upliftment of standard of living of Indian poor or to boost up the profitability of Indian businessmen community but to strike at the root of middle class families whose survival depends on retail business . After all it is only middle class who has to bear the brunt of fiscal crisis , price rise, inflation, corruption and all negative features of Indian economic system. Obviously the great economist MMS is bent upon adding fuel to fire , he is neither bothered of pitiable position of Indian poor nor frustration growing in Indian youth due to shrinking employment opportunities.

The government accused of rampant corruption, policy paralysis and of being anti poor is unfortunately busy in dividing Indians by extending favour to some caste or community and depriving some others by using economic powers invested in it. Government uses secular card or quota maha-mantra to keep best performer like Nitish Kumar, Narendra Modi like persons out of power. Government talks of secularism when people of India talk of price rise, employment opportunities, safety, and corruption free administration and real development.

It is pity that even opposition political parties due to their historical ego and conflicts are divided on petty issues and hence fail to stop present government taking anti national and anti people decisions.

No solution is  as such possible in near future from the present government so far the problem of price rise, inflation , fiscal deficit , unemployment ,corruption etc are concerned.

BSNL is incurring loss and private telecom service providers like Airtel and reliance are earning huge profit. Why?

Coal mines allotted to private business houses at throw away prizes have earned huge wealth but Coal India Limited is on the verge of booking loss. Why?

Private banks are earning higher and higher profit and mobilizing higher and higher business but government banks are booking nominal profit that too by concealing  bad assets and by not making desired provisions on staff cost or for bad assets. Why?

Railway having monopoly business is also booking loss. Oil companies are booking loss but by dint of government sharing the burden shows profits. Why?

Inspite of best economist leading the country, inflation is unmanageable, price rise is beyond control, fiscal deficit is beyond control, current account deficit is growing, unwarranted imports are allowed and last but not the least corruption is increasing without any restrain or without any effort to stop it. Why?

Government says loss making branches should either be brought in profit or closed within three years of its establishment. Why public sector undertakings incurring loss consistently for years together are not closed?

Government says unemployment rate has come down as per survey conducted by labour department. May I ask them a question, “Whether labour offices in all districts are performing the task assigned to them honestly and sincerely?”

Are all unemployed youth registering their cases with employment exchanges? If not, how government has concluded that unemployment growth rate has come down?

Has government failed in ensuring equi-distribution of GDP growth said to have been achieved despite global slowdown and global slowdown?  

Are subsidy sanctioned in favour of common men in form of fuel and fertilizer subsidy more than subsidy allowed to rich class exporters, importers and industrialist?                                                                    

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