TOI - "PMO backs 100% telecom FDI as best pill for ailing economy" I am amused, it appears that now the authority vests with PMO and not the PM, otherwise why PMO and not PM? The PMO controlled by bureaucrats, appears to have become bigger than the PM. And it is not the first time; now a days all policy decisions are declared in the name of PMO. Has our nominated PM been divested of his powers? We are seeing before us the re-emergence of foreign business which after acquiring controlling position in various sectors of our economy shall again make India their fiefdom in subtle ways, if left to the present govt ruled by INC. History is witness that after gaining independence, INC adopted policies that suited the deposed foreign powers and made such rules and Policies that vested all discretion in the hands of govt for allocation of national resources. Instead of making efforts to control imports by producing goods that can be easily produced in India, the present INC govt is making all efforts to maximize imports (their own Minister is saying it.) India’s main items of import, that are upsetting our foreign exchange balance, are Oil and Gas and Gold. The Petroleum Minister says that the country is floating on Petrol and Gas and can be self sufficient if they are explored properly. But some powerful lobby in the govt, backed by corrupt powerful bureaucrats, do not allow exploration of oil and gas; they are interested in maximizing the imports. Why? Secondly, in the last few years country has imported a disproportionately large quantity of gold by spending scarce foreign exchange by paying just 1% custom duty. It is common knowledge that the additional quantity of gold is being imported for investment of illegal money – bribe money, black money, crime money, as real estate has not given adequate returns, and stock market has become out of bounds due to strong legislation. The gold is imported by govt itself and it could have easily controlled its higher quantity of import. But as the reports appear in media, the govt gave all sorts of financial support to buy gold, thus aiding in its increased quantity of import. Thirdly, India has such a large quantity of coal in its womb that it can not be consumed in the next 500 years. But here also, the govt allocated coal mines to such parties who had no capability of mining it. Demand of coal has overtaken the supply and the shortage is being financed by scarce foreign exchange. Thus, the govt is solely responsible for creating huge imbalance in foreign exchange position of the country. Now to provide foreign exchange for such exploitation of the country by vested interests, govt is allowing FDI, a precursor of the nation again becoming a pawn in the hands of foreign powers. Need of the hour is to drive out this corrupt govt and install a govt headed by an honest, true and strong nationalist leader with vision and drive.
Posted on: Thu, 11 Jul 2013 13:07:03 +0000
Trending Topics
Recently Viewed Topics
© 2015