Is FDI A Necessary Evil ??

Union Cabinet has decided to permit Foreign Direct Investment upto 51% in retail sector.For sure this was a hot topic of discussion since last December  but I do'nt forsee this to be a step towards economic growth.Passing of such a policy has paved the way towards the gradual drifting of the monopoly on the retail sector to the Foreign companies which shall reap the benefits in coming future

For sure this policy promises economic growth and development now but keeping in mind  a long term approach I forsee this to be an evil in disguise .It has far more long term negative effects on the economy .We as Indian's do not see this to be in favor of the country rather this to be similar than setting up of  East India Company disguised as FDI  (I am possibly referring to companies like Walmart and Tesco who are much inclined to set there base in India with the help of this policy) .This has far greater negative consequences in Future as if now the this bill is for cities where the urban population is more than one million, hence it is quite certain that after having conquered the retail sector in the metro cities the same shall also be passed for the non metro cities and towns so in anyway or the other we shall loose the retail sector to the foreign companies. Although this ensure growth and jobs now ,but has long term negative effect on our economy. Probably one must analyze the possible outcomes before making any decision ,and to  me this bill indicate the same as it poses some disastrous outcomes in the near future .

It is quite a fact that India need new infrastructure facilities,refrigeration technology,transportation,engineering  etc.For sure this bill promises the all of above but at a price over retail sector.It has also put up another  question that rather  than comprising our retail sector for the interior growth why should the Indian gov take up the charge to improve all ?? This should be a fair acceptable challenge and should be well sorted out and planned rather than depending on the Foreign Investment

For nations like usa uk ,who have trillions of dollars in cash reserve foresee india as a nation with immense of opportunities for investment purposes .For them this FDI seems to be a way to counter the global down slide. By investing in INDIA they not only ensure there future but also monopoly over it .Gradually with a strong hold in India they might have a chance to enter Asia retail sector as well .Probably this might be the only way for sure as it appears to me now.However i do see this policy as a success in the field of aviation owing to the fact that this sector in India  requires funds as it is quite in loss .The FDI policy in this sector shall ensure many companies investing heavily thus giving us opportunities and jobs .

Our country is headed by an educated economists ,but i do not consider this to be a wise decision taken by this government although the  UPA leaders are very much hopeful that if FDI is allowed in retail sector, millions of job will be created and poverty of Indian rural folks and farmers  will be eliminated or at least help in reduction of poverty of India.

Here It is worthwhile to mention here that the Walmart which originated and prospered in USA failed to create considerable job opportunities in USA and Tesco which has its root in Europe failed to create even a lac job opportunity in Europe . West is facing an acute problem of unemployment and financial  crisis .By adopting FDI in retail India is going to invite a chain of  problems,existing retailers or the local KIRANA stores will be reduced to zero and local vendors will soon make up for a better part of the unemployed force in India.

So now it becomes quite clear that overall this FDI policy  is not a win win approach but rather a fail attempt which has compromised the retail sector in India

India the land of Scams

India Is impossible to understand ,and now it seems I have given up the faith that i shall ever be able to understand .It has been a fortnight since we celebrated our 65th Independance eve where at the the red fort Dr Manmohan singh boasted of our growth and prosperity to have achieved new heights .But the truth is that our country is facing an acute problem of frauds and scams ..Uptill now we have witnessed scams that sum to thousand crores like the once CWG and 2G ,but here is presented before us the mother of all scams 'Coal-Gate', which is a multi billion dollar scam known to be the biggest in the history of India .

Since Independance India has witnessed all sorts of scams in all sectors  these include political, financial, corporate and others. The country has witnessed n number of scam whose total net value cannot be estimated yet .The large scale corruption has compelled me to think for the fact that what is it really that takes for a person to cheat on other and do such a loss to the masses If there were to be a contest to see which country has maximum number of frauds and scams to its credit ,then surely it would be India who would have  won the Nobel Prize for that .To sum up,it has been estimated that India has lost $1,456 billion in Scams since Independence.If that money to have been utilized for the general good and strengthining the country, I am quite confident that India would have been a world power by now.That was just the sum up of all the scams that have been  brought to our notice ,some might have not been disclosed yet .The total estimate is far more than the one which has been calculated above .Now I wonder what might be the actual amount in either cash or kind of total worth scams that has occurred since Independence which as has brought to us to current situation of India .Moreover not even a single rupee has been recovered nor has been the accused ever convicted by the judiciary .Although the cases are still pending but to date no one has been accused yet .this seems to a sort for practice with the nation that the accused roam free .To me this is clearly the fault of the Indian Judiciary system, to add further in order to prove my point i can take up one of the more recent cases the Kasab Trial. It has been almost two years since this terrorist was caught for killing people on streets of mumbai and sice then the trial  is going on and no final verdict has been given yet(I know that this is out of topic, but I wrote this to prove the fact that our Judiciary system is slow and it take years to prove the guilt).The Indian judiciary system is quite slow or rather I should say its Incompetent.I admit that it was drafted by educated people for the general good but now we need some amendments and changes to ensure that such cases are not confront further in future

Sometimes I Wonder that what is it with our Country or with our countrymen that India has to confront such situations.Is it because of the edcuation system or is it because of our multi culture or multi religion or multi language society ?? Perhaps only God can answer this question or maybe not...

In majority of the scams thst have been brought to our notice have some way or the other a politician  a bureaucrats and an industrilist involved ,having been accused of receiving some kickback based on either under evaluating or over evaluation some deals relation defense food or teleco etc as well .Certainly a fair share of the amassed wealth through these scams is given to politicians and bureaucrats for there contribution thus pulling the country backward.someone had famously Quoted this "INDIA ON SALE" which is very much true to this day 

The most of the known scams are linked with the defense sector .For sure this is one of the potential business gov undertaking sector in India where the gov spends billion of rupees annually  Some defense deals that have turned into scams were the jeep scandals in 1948,or the famous Bofor scandal that include the well known politician and then India's prime minister Rajiv Gandhi.The most news that gained spolight was the Tatra Truck deal which was quite controversial and had involved the Army General chief V K Singh and some top military personnel also.The Army General chief V K Singh resigned after have being told that he was offered a bribe from the swedish automobile firm to which he denied .It is quite obvious that the gov expend a huge amount of money on the defense annually .For sure we cannot risk our national security .A huge amount of money is involved in these defense deals,some corrupt politicians and businessmen manipulate such deals for which they receive a kickbacks in as favour thus threatening the national security in a way 

Systematic loot of Indian resources since independence by industrialist in connivance with politicians and bureaucrats have also happened to have made us confront some of the mining scams as well .The recent once being the Coal Scam which is classified as the mother of all scams and is valued to be 1.86 lakh crore .The coal ministry was then controlled by the PM itself , and it has been brought to notice that some 155 coal blocks were allotted to companies at an under valued prices thus causing loss to the nation. This was brought to notice by the CAG chief and some 10-15 companies have been involved in it.The people behind the mining were regarded as too dangerous and too powerful .I was brought up with a notion that everyone is equal in eyes of law but this recent incidents have compelled me to think that there are some hand-full of people who are not afraid of anyone and it is because of them that the India had to occurred so many losses.India is rich in mineral resources, which if utilized in a proper way would lead to growth and prosperity .There had been regular illegal exploitation of minerals in the ore rich staes of the nation these include illegal encroachment of forest areas, underpayment of government royalties, conflict with tribals  regarding land-rights citation needed citing chaos disorder and huge loss to the nation .The spill-over of the effects of legal mining into problems such as Naxalism and the distortion of Indian  democracy by mixed political and mining interests, has gained international attention.Some of the scams that were brought to notice have been buried or  still pending thus citing a question that what has the Gov done to protect the natural resources from beign illegally exploited by the hands of Bahubalis netas and the  minimg companies 

Some of the country top finiancial scams include the Securities Scam(1992),Satyam Scam(2009),Ketan Parekh Scam(2001),BhansaliScam(1995) and TelgiScam(1991) Each one of the above were A class examples of corruption and fraud scam .Recent in news was the Adarsh land housing scam that happen in mumbai .The houses meant for the war heroes family were sold commercially  Most of the abv scams that have taken place keep featuring off and on in the media, but that doesn’t stop the next one from taking place since investigations and trials are excruciatingly prolonged.These have involved big money and power

Where there is big money and want of power involved there is greed and corruption.Thus there is a need for a strong law and enforcement judiciary system to keep a check on such loot .People involved and the corporation and private companies associated with these scams should be given highest level of  punishment by the law so that no further incident should happen in future .