Why is Reliance so Angry - By Sucheta Dalal
Dear Mr. Amutham if you look deeper in India's growth story since independence you will find that all private sector players had to adopt and submit to the corrupt system of license raj created by Congress ruling class. Can we shun all of them and deny fair play?You can't single out one player and shunt him out of the arena. If we stop functioning and growth of all private sector for their past murky deals with a corrupt regime India's growth will get stunted. Govt. treasury is almost empty. Just consider that nearly 40% of Govt. (including States) revenue is committed to watch and ward function (Security, law and order i.e. army and police), 35-38% is used to meet interest on debt obligations (money that was frittered away in the past), another 15-18% is used to pay the vast civilian army of Babus and another 10-12% is spent of charity I mean subsidies. Nothing is left to undertake any developmental work. All other expenditure be it development or non-development, has to be financed through borrowings. Nation has perforce become a perpetual borrower. Each year we are adding to the debt burden of the new baby in this country. Our population is increasing by the day/night. No one ever thinks of controlling this baby boom because of political considerations. China put a firm break on this evil and imposed one child norm and that has made it march past all powers in the world. Under these circumstances if you do not allow private players to help in India's growth we will become poorer and poorer. more
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