Poor India of Billianarier’s Indians.
By: Er.H.R.Phonsa
In the last 73 years after India became free country, our poverty in going un-controlled. Because of our strange ways of economy managements our gap between rich and poor is ever widening. Huger ,starvation, illiteracy and disease gap among our Nation groups is going uncontrolled despite poors getting host of explanations and justifications for doing dedicated efforts of government managers to close the gap. We are continuously loosing grounds on Global Hunger Index. In 2000 we held 83 positions out of 113 countries. From here we fell to 95 position in 2018 and are currently at 102 (2019) out of 117 countries list.( PTI New Delhi | Updated on October 16, 2019) . Our improper storage and transport of food grains ,we annually lose about US$ 14 billion worth of food (The National Network ( TNN) news, Sep 4, 2019), According to the Right To Food Campaign, in India Starvation has killed more Dalits and Adivasis than people of other communities, ( Matters of India Oct1,2019).
In the Nationwide address on electronic media Indian worth Prime Minister announced on 30th June 2020 to give free ration for 5 months to 80 Crore Indians under PMGKAY costing Indian economy nearly US$1.21 Billion. Our PM also told that all of these 80 crore people are mostly poor. We Indian are time and again reminded that we are not a poor Nation, as our Economy is standing at serial three of Asian economies next only to USA and China. We hold 5th world position of foreign reserves which has grown at around US$ 507.644 billion as on 12th June 2020. There cannot be any other reliable data about Indian poverty ridden population than this as publically announced by Indian Chief Executive. This is the economic status of we Indians even after celebrating our 73 years of Freedom from foreign rulers and their yoke like subjugations. As per latest estimates Indian Population as on July1, 2020,is 138 crore out of which 80 crore or 58% of total Indians , cannot independently have 10-15 Kgs ration per person per day to sustain his/her life without government helping hand. However pandemic for few months have crippled majority Indian’s world. The Punjab Kesri, Jammu on 4July2020 reported that against promised free 5 Kilo ration to each immigrants to 8 crore only 1.2 crore got it for May ,where as for June their number have gone down to 89.88 lakh. This face of our “Economic management” in no way can be termed as bright.
But the other side (Wealthy) of Indian “Economy Management” is extremely shining."Elite Bhartiya’s added 19 more billionaires in 2017 to reach 121 (2018) from their count of 102 billionaires. Asia's third-largest economy added monthly 3 new Billionaires (34 for year) to its tally of billionaires during ( 2019), jumping two spots to worldwide rank third with 138 ultra-rich persons after the China and U.S, according to Hurun Global Rich List 2020. The number rises to 170 if Indian-origin billionaires are also added. (Feb 26, 2020) . Mukesh Ambani, who is way ahead of other Indian billionaires in terms of assets, became richest Indian owning $ 67 Billion in net worth, minting Rs 7 crore every hour (Feb,2020). However in 1998 Shri Lakshmi Mittal with net worth 3.5 Billion was single Indian in the list of 209 ( owning worth between $51 to 1.5 Billion each---Forebs). Then Dhirubhai Ambani father of Mukesh Ambani held net worth of was $1.2 billion. During last 20 years late Dhirubhai Ambani’s family worth has increased by 2205 %. But their greed to earn by applying fair and foul means did not satify. Their corrupt greedy way when came to light prompted J&K Governor shri Satya Pal Malik, to scrap the Insurance policy with Reliance saying it was full of frauds (The Daily Excelsior Oct.25,2018). To be entrepreneur is good but to earn through unscrupulous means is worst.
A poor Indian often loses life for stealing bread or a fruit to quench his/her belly hunger. But for strong clouted Indian’s bad loans worth Rs.5.7 trillions has been written off from 2014-15 (Business Slandered November 29, 2019 ).Also Indian banks wrote off a record Rs 2.54 lakh crore of bad Bank loans in FY2019 to show reduced NPAs on their books, a trend that continues into FY2020 as well, as per data compiled by ETIG (Economic Times Intelligence Group (India) Aug 2, 2019 ). State- owned banks alone wrote off Rs 1.94 lakh crore of bad loans. Banks write off bad debt that is declared non collectable so reduction in the value of an asset or earnings by the amount of an expense or loss. In lay man’s language, these losses are accepted as unrecoverable by financing institution.
As per report published in Economic Times, 9March,2018, Indian black money currently present in Swiss and other offshore banks is estimated to be Rs 300 lakh crores or US$1.5 trillion. In February 2015, Indian Express released the list of 1195 Indians account holders and their balances for the year 2006-07 in HSBC's Geneva branch. The balance against the 1195 names stood at Rs 25,420 crore (US$3.6 billion).( National Bureau. "Kejriwal demands action against HSBC officials". The Hindu. Retrieved 29 July 2015).
The 2016 Panama Papers scandal is the largest-ever leak of information on black money in history. It contains names of 500 big winged Indian money fraudulents, who flouted rules and regulations, to earn illegal money. This is only a part tip of corruption sourced and illegally earned Black money by mostly who claim as God fearing Indians and most respected in society. I have yet to find a name , in these lists of corrupt and fraudulents, of any common working classes Indian individual. But these fraudulent cheats continue to hold fare public image.
The other side of our badly managed economy reveals that as many as 3, 00,000 farmers (Indian Bread producers) committed suicides (Wikipedia) from 1998 to 2018 for various reasons, with bank loans outstanding and crop failures being major reasons. If the number of farm laborers is added this figure may shoot up many times. The “The Quint, Jan. 2018” quotes that Indian 1% of the population on top, is owning nearly 73% of the total National wealth generated. The survey also showed that their wealth increased by over Rs 20.9 lakh crores during 2017 , an amount nearly equivalent to Union budget 2017-18 pegged at Rs 21.47 Lakh Crores. Unfortunate deprived Bhartiyas with 80 cores population of poorest, saw their wealth rise by just 01 per cent.
The riches held by our gods, goddesses are beyond humanly imaginable estimates. If anyone of these heavenly mystic bodies , have contributes any penny out of their tons of gold, silver, jewelry , cash for common welfare in deadliest corona virus pandemic times is also mystery shrouded .
This improper division of national wealth can no way be termed as fair. These statements prove beyond doubts that Indian Poor and Wealthy worlds are poles apart within same Indian geographical boundaries’. It seems Indian house majority managers are greedy, corrupt and heartless human. Based on the above statements, it can be safely concluded that this loot of National Resources cannot be possible without conveyance hidden or visible , or sincere efforts to arrest it, by all four governing wings of world’s largest democracy. By not arresting tendencies of unlawful acts by law of the land ,we are drifting away from of self sworn life motto of “Vasudhaiva Kutumbakam” The World is One Family. Let us not forget that long lasting Family unity depends on social and economic equality.
Words : 1282 Er. H.R. Phonsa, Jammu
Dated June 6,2020
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