Wednesday, 28 November 2012

Time is ticking away...

Of the sixteen days of the Winter session in Parliament, four are over and on one issue the session is being held up...FDI..FDI.FDI... There are 25 pending bills which need urgent need to be passed. If one issue is given so much time for one, when will they legislate on the others. The entire Monsoon session was spent on demands on answer to "Coal-block allocations" Our Parliamentarians need to be re-trained to be able to spend time more effectively in Parliament. Foreign Direct Investment has been raised to 50% lately, despite stiff opposition. Now that it has been executed, to repeal it would be complicated. It will again sent a message to international investors that it is "risky" to invest in India, as politicians will go on changing policies.
Whether we pass FDI or not, foreign firms are here. Indirectly, like "Wal-mart" has taken over the entire market legally before FDI was ever considered.It is under the guise of another Indian chain store. It invests its funds through the local name.Foreign firms know how to deal with the government's policies and how to get around them.
Many foreign firms operate through a base those countries with whom we do not tax. For instance Mauritius. They have an office in Mauritius and claim that they are from there. We have signed pact with Mauritius that we would not tax them, so that trade is encouraged. Foreign companies take advantage of this to evade taxes.We had not renewed many bilateral treaties, and they take advantage of that and evade taxes.In a changing world scenario, we must keep up.
As per report of ICAR in September 2012,Rupees  44143 crores post harvest losses of horticultural, agricultural and livestock produce has been calculated.So government allowed 100% FDI in cold storage, so that harvests could be saved.In saving post harvest loss, there is need for capital investment to create modern storage capacities. So Private Public Partnerships for infrastructure development schemes will be encouraged.But whether encouraged or not "chain stores" will expand their tentacles and take over our "food chain".They will take over all trades starting from the harvest chain and extending to other consumer items.
Specialists in economy have to put their minds together to find out the devious ways of the foreign markets. And parliamentarians need to take their advice before framing policies.Political games have marred our country's future.

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