Everyday news about GDP growth or bank lending rate comes on TV and newsprint. Chairman of ICICI or HDFC or SBI or PNB or Union Bank whoever he or she may be, they are inclined to give such a statement which suits wishes of government. They are number one yes-men of Ministers and they are invariably surrounded by corrupt and CBI case ridden General Managers .When General Managers are facing CBI inquiry and are not punished by Chairman of any bank it shows how much corrupt and false they themselves are. Executives more often than not, are addicted to speak lie and concoct figure. Therefore if these CEO talks about stable interest rate regime or social inclusion it appears ridiculous and ludicrous. Neither can one believe on statistics submitted by them or bad loans or real health of economy.
Even Chartered Accountants or Credit rating agencies are not doing their job honestly. Based on some statistics or the other they are simply predicting the probable NPA percentage in banks based on some premise or the other. They believe on balance sheet data of last year which I do not believe. . If they look into the books /CBS system of at least five banks in five towns or ten towns in a state say Jharkhand or Bihar and they assess personally without believing any word from banker I think reality will precipitate. But before that rating agency has to learn prudential norms of the banks very carefully and then work for this task seriously at least for three months. I think bad loan percentage will be at least five times of what they are exhibited in balance sheets.
An officer who is not well versed in modern tact of keeping boss happy or not master in cooking figure cannot become executive. An officer who is not tactful in earning money and share with bosses cannot dream of becoming executive. When corruption is at large scale at higher level even CBI or CVC will not pursue the case. Even Ministry of Finance will remain silent. RBI officers and inspectors will submit favourable report.
One can imagine what is happening in a bank where all General Managers like Vijendra, Bansal, Govindan are surrounding the Managing director of that bank and not punished even after various charges. It may be also be guessed who are the God fathers behind such heavyweights .In such sorry state of affairs one cannot dream of good health of bank and neither can he believe on the preaching of these CEOs of the bank. In such bank good officers cannot dream of promotion or good posting. And this is bitter truth that a bank cannot show stable growth without the whole hearted support of field workers. When field functionaries are ingeneral unhappy they cannot be loyal but they can be good flatterer.It is therefore hard nut to crack to assess the real health of any bank.
Thursday, February 25, 2010
Saturday, February 20, 2010
Stimulus Funda
I am not an economist, nor an expert in finance management of the government. I however try to project my feelings. Liquidity crisis or Sub Prime Crisis occurred in USA and other European countries. How did it affect Indian economy in the year 2008 which forced Indian Government to sanction stimulus package in line with what Obama did in USA.I am unable to understand it. Can anyone help me?
I came to know that since FII were withdrawing money from stock market, India’s economy has been shaken. It means our great miracle economy of the world depends on FII fund and survives due to FII fund.
Some intelligent persons tell that due to financial problems in USA, they had blocked payment of exports made by Indian businessmen. This resulted in liquidity crisis in many countries. Some says that export of goods has suffered a lot.
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stop import, real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affected units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentlessly rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
It is ironical that the government which is talking of social inclusion to attract Indian voters is also talking of merger of banks or infusion of fresh capital into PSU banks to enable them to compete with global banks which caused crisis in USA and other countries. When they plead consolidation of banks in raising exposure limit of the banks they perhaps forget the interest of common men or the issue of social inclusion.
Can I conclude now that the fear of global recession in India was artificial and virtual and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
I came to know that since FII were withdrawing money from stock market, India’s economy has been shaken. It means our great miracle economy of the world depends on FII fund and survives due to FII fund.
Some intelligent persons tell that due to financial problems in USA, they had blocked payment of exports made by Indian businessmen. This resulted in liquidity crisis in many countries. Some says that export of goods has suffered a lot.
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stop import, real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affected units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentlessly rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
It is ironical that the government which is talking of social inclusion to attract Indian voters is also talking of merger of banks or infusion of fresh capital into PSU banks to enable them to compete with global banks which caused crisis in USA and other countries. When they plead consolidation of banks in raising exposure limit of the banks they perhaps forget the interest of common men or the issue of social inclusion.
Can I conclude now that the fear of global recession in India was artificial and virtual and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
Thursday, February 18, 2010
Respected Manmohan Singh
I am not an economist, nor an expert in finance management of the government. I however try to project my feelings. Liquidity crisis or Sub Prime Crisis occurred in USA and other European countries. How did it affect Indian economy in the year 2008 which forced Indian Government to sanction stimulus package in line with what Obama did in USA.
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stops import , real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affects units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentless rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
Can I conclude now that the fear of global recession in India was artificial and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?
If not how did it result in liquidity crisis? When foreign countries stops import , real problem may arise in selling exportable goods in domestic market.
If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.
CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?
Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.
Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?
If domestic demand has not increased, how the said affects units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?
Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?
Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?
If it is true, government should admit that the current price rise is nothing but the making of the government.
Income of poor people did not rise but prices showed relentless rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.
Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.
Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.
If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.
If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.
Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.
Can I conclude now that the fear of global recession in India was artificial and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?
Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009
Friday, February 12, 2010
Will RBI look into
Number of officers serving in a bank are working in Metro area since joining and on the other hand hundreds of others are forced to work in rural areas since joining?
Will RBI conduct sincere audit of at least ten big and old branches of top five banks in the state of Jharkhand and conduct of executives of that bank to know and understand how much deep rooted corruption is prevailing in banks not only in the term of money but human values
Will RBI conduct sincere audit of at least ten big and old branches of top five banks in the state of Jharkhand and conduct of executives of that bank to know and understand how much deep rooted corruption is prevailing in banks not only in the term of money but human values
Wednesday, February 10, 2010
Economic Growth
EVERYDAY ONE VIP OR THE OTHER, EITHER FORM GOVERNMENT OF INDIA OR RBI OR CONGRESS PARTY WILL TALK OF GDP GROWTH AND Financial Newspaper PUBLISH THE SAME in their NEWSPAPER.
Fact is that ninety nine point nine percent of Indian population do not read or do not understand newspaper and they at least do not understand what GDP is, whether it is Gross domestic Product of economists or Garibi Development Project of ruling government or Gross Domestic Poverty of the country which is rising at 6 to 9%. Common men know and understand easily that Poor are growing poorer, number of poor persons is increasing year after year and rich people are growing riche and richer. Basket of goods bought b majority of Indians is shrinking day by day due to decreasing earning and increasing prices
Where from GDP growth claimed by Government after all comes from?
How GDP growth is calculated and how does it reflect the true picture of people living below poverty line?
Even poverty line is based on all criteria. If poverty line is redefined keeping in view current price rise and change in nature of essential goods or based on actual need of calorie intake I hope astonishing and astronomical rise in poverty will expose the hollowness of GDP growth hyped by economists, media persons and ruling echelons.
Fact is that ninety nine point nine percent of Indian population do not read or do not understand newspaper and they at least do not understand what GDP is, whether it is Gross domestic Product of economists or Garibi Development Project of ruling government or Gross Domestic Poverty of the country which is rising at 6 to 9%. Common men know and understand easily that Poor are growing poorer, number of poor persons is increasing year after year and rich people are growing riche and richer. Basket of goods bought b majority of Indians is shrinking day by day due to decreasing earning and increasing prices
Where from GDP growth claimed by Government after all comes from?
How GDP growth is calculated and how does it reflect the true picture of people living below poverty line?
Even poverty line is based on all criteria. If poverty line is redefined keeping in view current price rise and change in nature of essential goods or based on actual need of calorie intake I hope astonishing and astronomical rise in poverty will expose the hollowness of GDP growth hyped by economists, media persons and ruling echelons.
Monday, February 1, 2010
RBI role is limited on Price Rise
Airfare seems to be reasonable if you book your ticket one month in advance. But it goes on increasing if you delay in booking the ticket. The more you reach to nearer to date of your travel by air, the more you will be charged by private ailines. It means your urgency of travel will cost you higher fare. It is remarkable to point out here that for journey from Agartala to Delhi varies from Rs. 3000 to Rs. 23000 depending upon the date of travel and the private airlines you choose. It differs from one private airline to other. Rate are decided in completely whimsical manner and government is silent spectator of all these arbitrary charging of fares by private airlines. Even Government sponsored Air India and Indian Airline does not hesitate to charge higher fare though they book loss even after recovering maximum rate.
There is complete freedom to airline to exploit the passenger whenever there is increase in number of passenger on any particular date due to festival or marriage season or due to strike by any of private airline. Government has for all practical purposes turned blind eyes towards arbitrary rule of flight owners.
You may imagine the fate of passenger who travels by train or by bus or by taxi, if they also start exploiting the passengers in the same way. You will be frightened to think of a situation if traders in other essential goods also start charging higher rate depending upon the demand in the market of a particular goods or service. It is therefore not astonishing that traders first hoard lacs of tons of sugar in their hidden godowns, create artificial crisis and then raise sugar price in the market. Similar is the fate of wheat, rice, pulses, potatoes, onions and many other essential goods.
Government has no right to regulate the bus fare or train fare (if privatized as airlines) or the prices of essential goods in an era when government has given freedom to traders and manufacturers. This is perhaps the root cause of unprecedented price rise in all sphere of life and increase in inflation number.
It is interesting to point out here that prices of TV, freeze, washing machines, CD players, Computers, have not increased in last few years, rather decreased because of the fact that demand of these goods is confined to microscopically small portion of population. More than 95% of population has faced severe erosion in their buying capacity due to rise in price of essential goods disproportionate to their rise in salary or income from their business.
RBI or government of India shedding crocodile tears on price rise and in fact they do not have moral to advise traders to fix reasonable rate of any goods or service or to have a reasonable profit margin and there is no doubt in it that the government willfully have taken no steps to stop profit making and hoarding activities undertaken by traders to give an artificial boost to prices of essential goods.
After all we are living an era of privatization, liberalization and globalization and our policies are traders friendly. We are no more protagonists of socialistic policies; we are in fact marching towards capitalistic pattern. Even voters preferred voting Manmohan Singh Government who advocates complete freedom to traders in the name of global competition. The more you are rich, the more favour you will get from Government. Reliance, Tata, Mittal etc will get discount in tax, reduction in interest rate, preference in land acquisition and what not. But when milk produces and farmers talk of tax rebate government will talk of financial deficit and resource crunch. Government can provide cheap land or even free land to those people who establish engineering or medical college. But the same government cannot advise college owners to charge reasonable fees from students.
Gone are the days when cigarette, wine, freeze, cars etc were taxed more, gones are the days when home loan and car loans were given by banks at higher rate of interest. Now a days banks are asking for freedom in interest rate for charging higher rates to farmers because they are of the view that farmers should be given credit at rate higher than BPLR and they advise farmers to depend on local money lenders or local banks contemplated by RBI .On the other hand banks are ready to give Sub PLR credit to corporate, home loan seekers, real estate developers, luxury goods manufacturers. Students are given loan so that they become capable in paying exorbitant college fees to college owners and take admission in private colleges. But the same government does not think it morally prudent and wise to ensure that students are charged reasonable fees. After all it is an era of freedom and freedom only for those people who hail from affluent class of society.
This is why poor are growing poorer and riches are growing richer. Gap between the have and have –not is widening day by day. It will not be an exaggeration to say that poor are leading a life of slave though they are given freedom of speech and freedom of occupation and though education has been made mandatory upto secondary level. Politicians are therefore deviating the minds of poor, middle class and downtrodden class from their poverty, their unemployment, their incapacitance and incompetence to their caste, religion, region or language. Leaders like Bal Thakre, Raj Thakre, Ashok Chauhan therefore think it wise to talk of Marathi Manush and Marathi language. Lalu Yadav, Mulayam Yadav, Mayawati like VIPs do not feel shame in talking of Yadavs, Dalits, OBCs and Muslims. Politicians in general therefore do not feel shame in talking of reservation or quota because they expect to get support from many voters. Leaders try to avoid talk on hardships of common men and try their best to arouse emotions of common men and enrich their vote bank so that their castle of power remain intact even under acute economic crisis and severest recession or draught or fraud or any other natural calamity. Leaders do not hesitate in supporting or getting support from Naxalites or terrorists or anti national elements if their survival in powerful post is at stake.
Let us therefore not cry, weep for beg for alms from our political leaders, better to starve and accept painful death. It is not out of place to point out there that poor people cannot even dream of proper medical treatment if they fall sick in lack of nutritious food or water or due to polluted climate. Global warming also do not affect rich people and it is poor who become victim of pollution in the environment.
It is However God, and God alone who come to rescue of common men in all bad days. Government is after all of the rich people, for the rich people and by the rich people.
Danendra jain ganarah choumuhani Agartala 799001
1st Fab 2010
There is complete freedom to airline to exploit the passenger whenever there is increase in number of passenger on any particular date due to festival or marriage season or due to strike by any of private airline. Government has for all practical purposes turned blind eyes towards arbitrary rule of flight owners.
You may imagine the fate of passenger who travels by train or by bus or by taxi, if they also start exploiting the passengers in the same way. You will be frightened to think of a situation if traders in other essential goods also start charging higher rate depending upon the demand in the market of a particular goods or service. It is therefore not astonishing that traders first hoard lacs of tons of sugar in their hidden godowns, create artificial crisis and then raise sugar price in the market. Similar is the fate of wheat, rice, pulses, potatoes, onions and many other essential goods.
Government has no right to regulate the bus fare or train fare (if privatized as airlines) or the prices of essential goods in an era when government has given freedom to traders and manufacturers. This is perhaps the root cause of unprecedented price rise in all sphere of life and increase in inflation number.
It is interesting to point out here that prices of TV, freeze, washing machines, CD players, Computers, have not increased in last few years, rather decreased because of the fact that demand of these goods is confined to microscopically small portion of population. More than 95% of population has faced severe erosion in their buying capacity due to rise in price of essential goods disproportionate to their rise in salary or income from their business.
RBI or government of India shedding crocodile tears on price rise and in fact they do not have moral to advise traders to fix reasonable rate of any goods or service or to have a reasonable profit margin and there is no doubt in it that the government willfully have taken no steps to stop profit making and hoarding activities undertaken by traders to give an artificial boost to prices of essential goods.
After all we are living an era of privatization, liberalization and globalization and our policies are traders friendly. We are no more protagonists of socialistic policies; we are in fact marching towards capitalistic pattern. Even voters preferred voting Manmohan Singh Government who advocates complete freedom to traders in the name of global competition. The more you are rich, the more favour you will get from Government. Reliance, Tata, Mittal etc will get discount in tax, reduction in interest rate, preference in land acquisition and what not. But when milk produces and farmers talk of tax rebate government will talk of financial deficit and resource crunch. Government can provide cheap land or even free land to those people who establish engineering or medical college. But the same government cannot advise college owners to charge reasonable fees from students.
Gone are the days when cigarette, wine, freeze, cars etc were taxed more, gones are the days when home loan and car loans were given by banks at higher rate of interest. Now a days banks are asking for freedom in interest rate for charging higher rates to farmers because they are of the view that farmers should be given credit at rate higher than BPLR and they advise farmers to depend on local money lenders or local banks contemplated by RBI .On the other hand banks are ready to give Sub PLR credit to corporate, home loan seekers, real estate developers, luxury goods manufacturers. Students are given loan so that they become capable in paying exorbitant college fees to college owners and take admission in private colleges. But the same government does not think it morally prudent and wise to ensure that students are charged reasonable fees. After all it is an era of freedom and freedom only for those people who hail from affluent class of society.
This is why poor are growing poorer and riches are growing richer. Gap between the have and have –not is widening day by day. It will not be an exaggeration to say that poor are leading a life of slave though they are given freedom of speech and freedom of occupation and though education has been made mandatory upto secondary level. Politicians are therefore deviating the minds of poor, middle class and downtrodden class from their poverty, their unemployment, their incapacitance and incompetence to their caste, religion, region or language. Leaders like Bal Thakre, Raj Thakre, Ashok Chauhan therefore think it wise to talk of Marathi Manush and Marathi language. Lalu Yadav, Mulayam Yadav, Mayawati like VIPs do not feel shame in talking of Yadavs, Dalits, OBCs and Muslims. Politicians in general therefore do not feel shame in talking of reservation or quota because they expect to get support from many voters. Leaders try to avoid talk on hardships of common men and try their best to arouse emotions of common men and enrich their vote bank so that their castle of power remain intact even under acute economic crisis and severest recession or draught or fraud or any other natural calamity. Leaders do not hesitate in supporting or getting support from Naxalites or terrorists or anti national elements if their survival in powerful post is at stake.
Let us therefore not cry, weep for beg for alms from our political leaders, better to starve and accept painful death. It is not out of place to point out there that poor people cannot even dream of proper medical treatment if they fall sick in lack of nutritious food or water or due to polluted climate. Global warming also do not affect rich people and it is poor who become victim of pollution in the environment.
It is However God, and God alone who come to rescue of common men in all bad days. Government is after all of the rich people, for the rich people and by the rich people.
Danendra jain ganarah choumuhani Agartala 799001
1st Fab 2010
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