Today's Indian economy being under serious crisis because of our senior most economists are our rulers. Generally politicians will become gevernment heads and they will depend up on bureaucratic and economists while making economic planning of the country. But our Prime minister Mr(Dr). ManMohan Sing himself a great economist.At the same time our erstwhile finance minister P.Chidambaram was also a scholar.And present finance minister Mr.Pranabh Mukarji,second time as finance minister. is also a great teacher and scholar,he has presented our national budget several times from1980`s.He is a great practical thinker and troubleshooter,as quoted by many . He introduced many employment generating programs.He served in many capacities at international oraganisations.
,In 1984, he was rated as the best Finance Minister of the World according to a survey of Euromoney magazine.His term was noted for India not withdrawing the last billion instalment of an IMF loan. Dr. Manmohan Singh was serving Reserve Bank of India as Governor during Pranab's term as Finance Minister,. He is inspired byDeng Xiaoping and has quoted him quite frequently.But today under his guidance our economy ruining.
The farmer finance minister Mr.P.Chidambaram, laid the road to telecom Scam,which shacked our economy and down our heads with shame and shy.In the name of globalization and WTO we allowing all kinds of imports without any safe guards to our economy and industries. Though China as a partner of WTO taking at most care to improvise its exports and maintain balance of trade.
Where as our imports are increasing in the consumer goods sector, mostly luxurious, which may not so necessary to our society.To safe guard the interests of a particular group of industrialists our economy is opening its doors to foreign investors. Yesterday it is the turn of FII`s to invest in stock markets,today it is the turn of FDI`s in retail markets.All most all FII`s are booking profits in stock markets to overcome the Euro crisis and shifting the investments from India.
to coverup the losses and maintain the baloney of trade and foreign deposits we are asking our Industrial houses to lend money from foreign banks at higher rates and take over our well established and profitably running organizations and industries.We have freely allowed high end customer needy product manufactures, by giving all kinds of tax relaxations and free infrastructure,which are burden to our economy.,such as high end car making units.
We know we have surplus human resources,than we can generate employment but our all five year plannings and yearly budgets are looking forward to import more finished goods than to produce them in our nation.
There is a wrong argument that all anti progressive economists and opposition political leaders are against new technology.As they opposed computers introduction in our country and the same are opposing today thewarm welcome to FDI`s in retail chain markets.The government and CII say that the FDI`s in retail chain market will generate high employment.,but what is the previous experience in other sectors
Till 1980`s in projects,road works and other huge works,where we can manage with manual labor ,we have not allowed machinery,because we have to provide minimum employment to our needy, poor and job less farmers and other land less eligible youth.After introducing machinery in rural agriculture sector many raithcoolies (agricultural labors),became jobless.Though we are not against mechanization agriculture,but the govt. has to provide alternative to the village poor.The job less poor of the villagers are migrating to the near by urban center and they becoming a social problem at that center.
What is the fate of the Bhiharis in Mumbai,what about Odissa labor in A.P. and T.N., like many in other parts of our country.We have adopted B.T. technology in agriculture seeds development.What happened to our traditional seed conservation system ? Now our farmers forced to suicide because raise in inputs costs and not getting minimum support price to their products.
We have seen white revolution (milk production)in Gujarat,but why not we succeeded in other parats of our country?Not in agriculture in all other fields we lost employment generation systems.Even in government ssedctor,the state and central governments are not in a position to appoint a peon.Off course they are recruiting high officers.For every thing we depending on public- private partnership programs for employment generation.
Tomorrow, our govt. planning to give away the education sector also to PPP .After 66 years of our independence our literacy is not reached the 65% level.Our rural tiny tots are starving for their livelihood,The most of girl child s are .out of schools.In rural areas especially in tribal areas illiteracy is very high.We reaching Moon,but unable to electrify many hilly and corner villages.Every Indian is happy to hold a cell phone in their hand but they yet to know how to operate it. This is our development.But, we want to compete with America in cell phone usage and having a car for a family,where as the family does n`t have shelter to stay.
Our government heads, other politicians and our economist and itellectuals should change their minds and proceed towards ground realitis.First they should understand what are our basic requirements and their hues and how to get dressed them as early as.So the common man may not revolt on their heads and rich.
We have not in lack of think tankers.India is a path shower to the world,but we are at lack of commitment and foresight.Let the great god our nation may give the sense of awaking to our great politicians and intellectuals to make our great nation as great as it was before our days and lead the world.
Ch.V.Prabhakar Rao,
Sr.Journalist.
Jagtial 505 327.
cell: 091-93915 33339
Sr.Journalist.
Jagtial 505 327.
cell: 091-93915 33339
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