Dear friends, All leaders and financial pundits are telling us that there is not enough capital available in our country for national development and they are going literally to great distances to attract the so called FDI. Now when our PM was busy impressing the Australians, the Adani group was successful in getting the biggest ever SBI Loan sanctioned, to be invested in Australia. Wonderful paradox? The SBI is giving us the lowest possible interest rates on our deposits with it. Most of the Nationalized Bank-deposits are collected from the Rural and semi-urban sectors, but not ploughed back in theses areas. We thought our low-interest money will be invested in India because India lacks enough capital for national development. Whats our return? (Incidentally the SBI was nationalized with the sole purpose of funding the Indian Agriculture sector). Are we, the common people, stupid enough not to understand the the Law - the Nationalization Acts, or, useless enough to misunderstand the Grand Designs of equally grand authorities who only know what is best for our 90% of the populace. Clearly the development-model is useful for rich power centres. Constitutional guarantee of equitable development of all, is a myth in reality.
Posted on: Wed, 19 Nov 2014 02:47:05 +0000
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