Wednesday, May 4, 2011

RBI fails to stop Inflation

RBI has announced change in repo rate and savings interest rate to control inflation and to cure sick economy. Such changes have been announced 10 times during last twelve months by RBI and still the growing sickness in the economy and hollow nature of proclaimed growth in GDP is a matter of concern for all right thinking persons and groups. As a matter of fact RBI and Ministry of Finance are simply reversing the wrong stimulating steps taken by them in the year 2008 to counter or to mitigate the adverse effects of so called global recession. As long as human being sitting at responsible posts are corrupt , all policies framed for developments fails on the ground.

Air India is charging airfare higher than private airline though quality of service extended by private airlines is far better than that of Indian airlines. Still survival of Indian Airlines is at stake because they are to incur losses in the tune of thousands of crores of rupees. Pilot officers are on strike for last 8 days despite court order against strike.

Similarly BSNL is enjoying all special privileges compared to private telecoms providers but BSNL is running in losses in hundreds and thousands of crores of rupees. Payment to employees in government sector may be higher or lower than private sector telecom providers but the services of private sector are invariably better.

Similarly government run banks are though showing profits, they are rated inferior by customers because of their inferior service. Government has to infuse capital year after year to weak banks, give relaxation in provisioning and disallow considerable hike in salary once in five years. Bank management in government sector are not in a position to make adequate provision for their retired employees to pay pension. These public sector banks have to conceal bad assets in lacs of crores of rupees because bribe led lending made by corrupt top officials goes bad in a year or two of lending. Bank employees have to work twelve hours a day violating all labour laws because banks are not in a position to allow fresh recruitment even to replace retired employees.

Position of Coal India, Steel Authority of India and many public sector undertaking is not that much good as they should be. There is large scale loot in all the departments. Politicians are looting them to such a large extent that their survival is at stake.

Such is the pathetic position of almost all government sector departments, public sector undertaking except a few Navratnas. Even navratna companies are showing symptoms of deterioration due to large scale misuse of them by dirty politicians.

It is perturbing that all such loot is possible and persisting and growing year after year under the umbrella of policy of reformation, liberalization and globalization. All talk of GDP growth or inflation control by learned Prime Minister Mr. Manmohan Singh PM therefore looks absurd.

Neither problems of unemployment are solved nor is poverty of poor eradicated during last two decades of reformation. Price rise is beyond control. Expenses on study, medical treatment and purchase of home have gone beyond the reach of common men. Only rich people, corrupt politicians and corrupt officers are real beneficiaries who constitute hardly 10 per cent of Indian population enjoys the fruits of so call reformation .Actually it is the loot and loot only which perpetuated, promoted and protected by corrupt officers and corrupt politicians for corrupt officers and corrupt politicians in the name of secularism and democratic principles.

Congress Party which has ruled for almost fifty years has masterminded all loots in all sectors. Even Prime Ministers present as well as past have accepted the bitter truth that level of corruption in India crossed limit of tolerance of common men. But there is none in India who hold power serious to look into problems and pain of corruption faced by common men. Congress party blames BJP for all misdeeds.

Congress party in the name of secularism and parliamentary democracy is allowing all evil works to political workers of congress party and officers who indirectly support the chain of evil works. Time of Parliament and State Assemblies are spoilt in mutual mug slinging by elected representatives or for mutual gain or in playing mutual blame gain without doing any work to pain of common m mitigate public hardship .


Now only silver lining is that Anna Hazare has taken initiative to create a fear among evil doers. At least some debate and discussion on rampant corruption has been ignited by team of Anna Hazare. Let us see how far their pious movement succeeds in real life.

God bless Anna Hazare and him team.

www.callforjustice.in

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