Economic gloom: India was never looted so badly
Corporate didn't develop any significant technology. Even Nano was four decades behind small cars already introduced in Japan. Alto was first introduced in 1971 with 543 CC engine.
Everyone in society has to co-operate for economic progress but when there are Corporate who learn more ways to SWINDLE India every day we are heading for bad times.
Your favorites have not developed a single technology- even Nano is a hoax planted by Tata. Honda, Nissan, Toyota, Suzuki all started with small cars with 550 CC engines around 1970.
It was foolish of you to believe "neta babu steal for businessmen". Neta Babus were actually conned in to supporting all their Illegal Demands. NDA allowed them to raise the holdings in companies from 10% to 30% and common shareholding was reduced to 10%, NDA didn't recognize IPR of millions of our engineers, they demanded "Incentives" to make Underwear Technologies, they demanded lower taxes, they wanted Cheap Credit, NDA obliged. Under UPA they demanded 500 SEZs almost free of cost GOI obliged, they wanted Free Trade Agreements, they demanded "MONEY" to take over companies five times their own size - Corus & JLR and other foreign companies UPA obliged.
Give a loan of Rs.1 lac to a farmer to install a tube-well, in six months his income go up by Rs.2 lac per year (Productivity Doubles). You give $20b to Tata he will make India poorer by $40b in say 20 years.
When coal requirement of UMPP is 12MT per year they demand three Coal mines with 1000 MT reserves – government obliges.
They demand to replace meters every three years, government obliges, they demand Rs.8000 crores in six years for 80% of Delhi as capital expenditure that may be 5 times more than last 40 years government obliges – but power shortages remain.
Tariff in Mumbai were increased 50% in 1997 but TPC continues to operate 40 years old oil fired units.
Mukesh refuses to supply CNG to NTPC – a licensee behaves like Owners of national asset.
R.K Gupta had put all the blame at the doorsteps of UPA but the Monsters Ambanis & Tatas and others were creations of NDA. There is very little UPA can do to rein in them. Judiciary in KG gas case has failed to direct RIL to honor contract it concluded with NTPC.
"Sanjay Jadhav" email@example.com
Mon Feb 23, 2009 3:57 am (PST)
Re: Economic gloom: India was never looted so badly
Dear Mr. Arvind Amin,
Why would the neta babu steal for businessmen? They can as well steal for themselves. If government brings licence Raj and keeps businessmen waiting for licence, electricity, telephone for 12 years to single year, do you want to say that businessmen have bribed them for it? Bribe paying person is victim and not co-conspirator.
(a) If government thinks that presence of private businessmen in Steel, aluminium, coal, electricity telephone is bad for the society, and then passes ID&R Act 1951, government ought to share the blame for its outcome. Capitalism or bribe paying businessmen has nothing to do with shortage, exploitation.
If Government thinks that it is in best position for creating jobs through government offices and 100s of PSUs, what businessmen can do except waiting 45 years for government to change its mind?
If 90% of the PSU installed or nationalized through taxpayers money is falling apart after 30 years cycle, we must accept that they were nationalized, monopolized, created for dubious justifications. At least government was unfit to that job. If the public money is going down the drain right under the nose of neta babu, how businessmen is responsible. Wishing the PSUs to fail can not be conspiracy.
If oil exploration is reserved for public sector for 45 years, India has to import 75% of the Crude in 2008 at $130 barrel, government alone has to share the blame.
(b) Government monopolized the education , health services and robbed the tax payers for investing in these government monopolies, and dished out unfit education and health services, how profit chasing businessmen are responsible for it. India has been conducting census every 10 years. Based on age wise report of 1951, 1961, 1971, in each district, one can easily predict the demand of education facilities health facilities, employment, food. If the government - particularly when private sector is legally prevented / incapacitated from making factories or producing jobs - fails plan education health employment, how businessmen are responsible for it?
(c) Government passes laws for monopsony of Ghaziabad Development authorities, Noida, Greater Noida, HUDA, DDA. Then creates shortages of houses, then exploits the common citizens by such scarcity for corruption and high price. How the businessmen becomes co-conspirator, except as post mortem doctor.
(d) India did not have capitalism till 1991 AD. Thereafter wherever free play of the market, necessarily armed by proper policies, was allowed, we have seen productivity improvement, improvement of quality/ service and also wealth creation. e.g. telecom, cable TV, software, garments.
(e) I will admit that businessmen had been paying the bribe to neta babus. But do you want to suggest that they paid the bribe for nationalization of Air India, 100s of insurance Companies, banking Companies, textile Companies, coal Companies, railways Companies, Hindustan Aeronautics, Vizagapattanam Shipyard, Cycle Companies, 100s of electricity Companies, 100s of Jute Companies, etc.? Keeping in mind the problems of private Companies, their callousness, their incompetence, funding problems, harrassment of the consumers, nobody will pay bribe to the neta babu for surrendering their Company to government.
(f) Government have installed many dubious schemes like government funded cooperative sugar factories, milk schemes, NAFED, Agriculture produce marketing Committees for so called public interests, with shaky justifications. The schemes were supposed to be with participation of the weaker sections and with taxpayers money. If every one of this failing draining Croes of rupees in drain, how businessmen is responsible for this?
Will they pay bribe to government, for passing restrictive business laws (Industrial Development and Regulation act, 1951, MRTP Act 1968, FERA Act? Please think as business executive or businessmen. Do not think like journalist or school teacher.