THE corporate world was so elated over inflated investment figures reportedly inked at the Vibrant Gujarat summit that they immediately crowned chief minister Narendra Modi as a future prime minister of the country. But what the corporate honchos did not know is that all that investments, even if true, come to the state only over 71 dead bodies at the altar of the glittering diamond trade of the state.
Jayati Ghosh analyses the negative fall out of Gujarat's high economic growth on its people and the self-interest of the Tatas, Ambanis and Mittals in their lavish praise of Narendra Modi.
"It is the result of the policies of the Government that the corporate sector rose to the stature of the dominant investor in the economy. This investment while generated high growth could not increase the purchasing power of the majority of the people. With the private sector in a crisis of its own, in the absence of Government boosting demand, the conditions of the people will further worsen. It is time to go back to John Maynard Keynes and argue like him for state intervention to boost demand."
Pragoti editorial team member, Subhanil Chowdhury, analyses the causes of the recent slowdown in the Indian economy.
During the last one month, the UPA Government has been doling out concession and relief at jet speed to the airlines – more precisely the two private airlines viz Jet Airways and Kingfisher Airlines, who now share 60 per cent of the domestic aviation market. This is in total contrast to the Government’s apathy during the last two years to the relentless price rise and high inflation which has become unbearable for the common people.
The Tatas’ retrograde decision to shift the Nano to Gujarat must not be allowed to be used to obliterate the blemish of the state-sponsored carnage of Muslims.
Courtesy: Frontline