Why I am concerned with environment? Because environment is targeted most in the neoliberal era. The Billionaire Millionaire class has every luxury affordable and we cannot afford the basic needs. It is the side effect of the growth story. The economy is destroyed and we may not understand just because of the Bull Run injected by FDI and FII devastating production system as well as business and industry. It is all about the promoter builder raj, all about free flow of unabated, decontrolled, deregulated foreign capital, just the printed papers we recognize as dollars which is breaking down with US oil and war economy.
It is the story of the destruction of nature and nature associated agrarian rural India subjected to continuous holocaust just because of the continuity of Manusmriti economics which is branded as free market economy.
The master blaster as well as honourable member of the parliament has inaugurated a swimming centre in remote South 24 pargana district of West Bengal which is adjacent to Sunder bans, the biggest Mangrove forest in the world. It has to be understood the reveraine zone consisting of islands has the demography which is most poor and may not afford swimming pool. It is the corporate encroachment in the Mangrove.
This is what about the icons the free market produced. The media sells the icons to the audience and has not any space for those who are real icons contributing unlimited in Indian life in many spheres of life.
Had not there been beautiful ladies before and after the iconic miss world and miss world we got? Free market needed them to sell the consumer items of which we had never been habitual.
Amidst impending slump ahead, Modi ignores the RBI warning that Sensex was not Indian economy and Indian Prime Minister Narendra Modi has taken direct control of a project-monitoring body to fast-track investments worth almost $300 billion and revives manufacturing in the country, two officials with direct knowledge of the matter told news agency Reuters.
Meanwhile, with Spice Jet passing through a turbulent phase, Civil Aviation Ministry is likely to push for granting infrastructure status to the aviation industry to enable it to access finances at cheaper rates and ease the cash crunch. Indian airlines had been destroyed. What about the private aviation. The status may be investigated with case studies of King Fishers, Spice Jet and so on.
What is the logic of privatisation of most popular and profitable PSUs then? All PSUs have been subjected to divestment and bailout and SBI as well as LIC have to be used to resettle the indices in turmoil. That is what happens to be our grand emerging market economy.
Mind you, The Indian economy is well prepared to deal with any eventuality arising out of spike in the interest rates by the US Federal reserve, which is sending a strong signal of rate hike early next year, rating agency Crisil said on Thursday.
Indian rulers are investing on information technology dumping rural India, Indian Business and Indian Industry. Thus, Modi is speaking of digital desh where we have to cease as human being and would be reduced to robots only. For all India’s prowess in IT, large parts of its economy have yet to benefit from new technologies. That could be about to change. New research by the McKinsey Global Institute analyses twelve technologies, ranging from the mobile Internet to cloud computing to advanced genomics that could have a profound impact on growth and social progress and add $550 billion to a trillion dollars a year of economic value in India by 2025.
“We are better prepared to handle shocks arising out of an expected increase in the US interest rates next year,” Crisil chief economist Dharmakirti Joshi said in an interaction on the social media site Twitter. Joshi said improvements in current account deficit (CAD), growth-inflation mix, sufficient import cover and steeply falling crude oil prices have put the country on a stronger wicket.
In a statement issued on Wednesday, the Federal Reserve said it would be ‘patient’ in deciding when to raise interest rates. Federal Reserve chairperson Janet Yellen explained that ‘patient’ meant the bank was unlikely to raise rates for ‘at least a couple of meetings’, that would mean April next year.
Pro-business Modi has faced criticism in recent weeks that his ambition to spur investment and re-energise the economy has yet to be realised, more than six months after he won elections with the strongest mandate in three decades. Industrial output contracted in October in its worst performance in three years, jarring with a much-publicised “Make in India” campaign Modi has championed to make the country a manufacturing powerhouse. By taking over the Project Monitoring Group (PMG), which was previously in the Cabinet Secretariat, Modi could help firms planning coal, power, steel and infrastructure projects cut through a maze of up to 180 clearances.
“The fact that the prime minister’s office (PMO) will be directly overseeing all the project clearances will impart a greater degree of efficiency and also ensure that clearances are fast tracked at every level,” said one of the officials, declining to be identified ahead of a public announcement.
“The PMO’s stamp will make a big difference.” A PMO official said a bureaucrat who had worked closely with Modi when he was chief minister of Gujarat state will head the monitoring group. The senior officer is among a few trusted civil servants with whom the PMO thrashes out key decisions, often at the expense of ministerial authority.
Former Prime Minister Man Mohan Singh set up the PMG last year to prod ministers and bureaucrats sitting on files, a tendency that came to be known as “policy paralysis” and was blamed for growth of less than 5% for two straight years.
Since its inception, the PMG has facilitated 197 stalled projects worth about $110 billion. South Korean steel maker POSCO is one of many companies to have approached the PMG. POSCO has waited nine years to get approvals to set up a $12 billion steel plant, which would be India’s biggest foreign direct investment. Tata Power and Adani Power are other top companies awaiting clearances.
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O- Palash Biswas