National
India Inc must ‘speak up’ against policy paralysis: Chidambaram (Lead)
New Delhi, Sep 27 (IANS) Former Finance Minister P. Chidambaram on Wednesday said that owing to “an atmosphere of fear”, Indian industry is not complaining about the policy paralysis of the Narendra Modi government and urged them to speak up.
He also said Prime Minister Narendra Modi and Finance Minister Arun Jaitley must bear responsibility for slowdown in the economy.
On being told that India Inc complained of policy paralysis during the UPA II, but are not doing so now, Chidambaram said: “I just want to make a correction. You said Indian industry doesn’t complain of policy paralysis. The correction is the Indian industry doesn’t complain (publicly).
“They complain to us privately. Indian industry must speak up.”
The Congress leader also cited the happening in the US last month when “business persons and heads of several companies quit US President’s (Donald Trump) several committees and councils in protest against what he was saying and doing”.
However, stressing that he was “not asking Indian industry to do that”, he said: “Industry must at least have the courage to speak up in matters relating to the economy.”
Chidambaram also recalled how active business chambers CII, Assocham and Ficci were during the UPA’s rule.
“They criticised us in several meetings.
“But, now there is an atmosphere of fear. I am appealing to Indian industry, doyens of Indian industry to speak up. Say what’s happening. We just saw major companies shedding jobs. Companies like cognizant, Infosys shed jobs, Yes Bank is shedding 2,500 jobs.
“But, they (the government) are sort of papering it over by saying this is normal attrition. This is not normal attrition,” he said.
Asked how he sees the economy by the end of this financial year, Chidambaram said: “I think all the indicators show that second quarter of this year will be below 6 per cent or there could be the same 5.7 per cent or a shade more or a shade less. But that is bad news.”
On the the difficulties after the implementation of GST, Chidambaram said the design was flawed and the implementation was terrible.
“We pointed out the design flaws, they (the government) refused to correct it. We cautioned them on the hasty implementation and asked them to defer it by a few months, they refused that. When implementation started, we said that it will impose a huge cost on small and medium businesses, that has proved true.
“Now even big businesses are complaining that the entire manner in which GST is being implemented has created enormous difficulties for them,” he added.
About the fiscal deficit target, Chidambaram said: “I know that there are some people who recommend that fiscal deficit target should be relaxed, I am opposed to that. I think it is a terrible idea. They should have reached 3 per cent in 2016-17 or at least in 2017-18.
“They have set for themselves a target of 3.2 per cent which itself is a relaxation. If they relax a fiscal deficit target further, it means that revenues are under pressure, the expenditure is out of control, they are not worried about inflation and they are not worried about interest rates going up. All this will only add to the distress in the economy,” he added.
–IANS
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Lucknow: Vishal Singh, a renowned social worker from Lucknow, also known as Foodman, has once again made India proud. He was honored by the Happy Hands Gloves Cooperative Limited Company in Korathai, Thailand, for his work with the Hunger Free World Mission.
The Hunger Free World Mission’s meeting was held in Korathai, Thailand, under Vishal Singh’s leadership. Representatives from several countries, including Mr. Raja Dwivedi (Managing Director of Happy Hands Gloves Limited), Thailand Coordinator Mr. Raja Mishra, and member Mr. Varun Singh, attended the event.
Under Vishal Singh’s leadership, the attendees took a pledge to work together toward creating a hunger-free world.
Speaking on the occasion, Vishal Singh explained that the main goal of the Hunger Free World Mission is social participation. He said the mission is not just about feeding people but also about meeting other basic needs of those who are struggling. The mission focuses on helping families of terminally ill patients in hospitals by providing food and shelter. It also works to fulfill essential needs like education, jobs, and care for the elderly.
For the last 16 years, the Vijay Sri Foundation has been providing free services, benefiting thousands of people. Vishal Singh highlighted that the mission aims to gain global recognition like other organizations such as WHO, WWF, and Red Cross, which work for social causes.
During this meeting, Vishal Singh was appointed as the Chairman of the Hunger Free World Mission by representatives from various countries. They also discussed holding regular meetings in different countries to push the mission forward.
Business tycoon Dr. Abhishek Verma has also supported this humanitarian mission, vowing to promote the idea of “Seva Parmo Dharma” (Service is the highest duty) worldwide. Vishal Singh praised him, stating that people like Dr .Abhishek Verma inspire others to work for the betterment of society.
Recently, Romania’s Ambassador, Mr . Daniela Sezonov Ţane, invited Vishal Singh to the Romanian Embassy in Delhi, where they discussed the mission in detail. Impressed by his humanitarian work, she honored Vishal Singh and invited him to Romania to take the mission forward .
Food man Vishal Singh has been serving the people of India for the past 16 years. Through the Vijay Sri Foundation, he provides free meals to cancer patients & their families ,shelter, and education for women & children along with running free old-age homes in Lucknow.
In addition to his humanitarian work, Vishal Singh also addresses issues like crime and corruption through his role as Chairman of Seva Path Media and Managing Director of Vijay Sri Foundation.
During the COVID-19 pandemic, Vishal Singh and his team worked tirelessly to provide food and help to the needy, including starving children, elderly citizens, and pregnant women. Despite contracting the virus himself, he continued to assist others after his recovery. He even created a life-saving oxygen regulator using household items, which was praised by doctors both in India and abroad.
In his address at the meeting, Vishal Singh spoke about his mission to create a hunger-free world. He pointed out that India’s large population, along with issues like unemployment and poverty, has caused the country to fall on the Hunger Index. He urged people to contribute just one handful of grains daily to help create a hunger-free world.
He concluded by saying that through social participation, we can empower the people around us, meet their basic needs, and work together to build a stronger, more prosperous, and developed society.
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