India – Neo Liberalization Economic Policy is Anti-Republic Ideology

December 4, 2012

By Padmini Arhant

The Congress party led UPA (United Progressive Alliance) coalition government welcomed neo liberalization economic policy considering hegemony influence over the administration key members and party chief in advancing globalization evidently suitable to establish feudalism under the pretext of modern capitalism.

Notwithstanding the fact, the head of the state and main cabinet ministers held positions at World Bank prior to being nominated by hegemony to promote the debilitating neo liberal concept in India.

Hegemony agenda on world economy is redefining capitalism exclusively benefitting the multinational corporations at small medium enterprise as well as average citizens detriment.

Not only the term neo liberal is deceptive but also the hegemony distortion of liberal and progressiveness in economics and politics confirms steadfastness to legalize authoritarianism consistent with the trend to the White House latest action legitimizing arbitrary drone strikes generating massive innocent civilian casualty.

The genuine liberal and progressive characteristics pose impediments to hegemony extremism and ultra conservatism essentially the protectionism that guarantees financial security to corporate conglomerate on their terms and conditions worldwide.

Hegemony is strongly opposed to protectionism that ensures public and national interest like preserving natural resources and human capital from foreign exploitation.

However, the obstacle is maneuvered through hegemony nominees in political system among the ruling power along side weakening opposition to rein control on government legislation that governs the economic sector implementing policies conforming to conglomerate agenda – i.e. broader access to market share and profits divestment offshore preferably in tax havens evading scrutiny.

The neo liberal ideology targets nations exacerbating society endurance on pervasive corruption advising subservient political power to remain committed in declining anti-graft legislation despite national demand.

Indian government is currently engaged in passing Foreign Direct Investment (FDI) allowing Walmart and other mega corporations’ retail monopoly regardless of the measure proved counterproductive.

Similar trade policies introduced under Free Trade Agreement – FTAA, NAFTA and CAFTA in Latin America and Asia was responded with factory workers and manufacturing sector protests in Columbia, Panama, South Korea…and elsewhere.

FDI devastating impact on vast majority surviving as retailers and local street vendors is apparently not a major concern for the political leaderships sworn allegiance to external global power.

India is unfortunately subjugated through elusive economic proposals favoring hegemony goal to derail growth widening the existing gap between the rich and poor.

FDI implementation would cost small businesses and shop keepers livelihood even driving them to situation experienced by farmers forced to commit suicide due to corporations like Monsanto stranglehold on farming community at the national political power invitation.

Besides FDI facilitates foreign exchange inverse flight contrary to political misconception on Forex reserves advantage currently debated in Indian Parliament aiming to circumvent the matter by seeking vote on Foreign Exchange Management Act (FEMA).

The traders nationwide should demonstrate against the erroneous decision and scuttle the misguided economic strategy threatening India’s domestic prospects linked with appropriate income distribution.

Another contentious factor with FDI is subsidized labor with cheap overheads, a common attraction for foreign absorption of market holdings resulting in huge employment displacement largely affecting women and marginalized demography.

In this instance it is noteworthy that Muslim and diverse groups are potentially at risk given their involvement in commercial activity as the chosen and sometimes circumstantial profession.

Instead the government utilization of capital and foreign exchange reserves in export oriented technology and mechanisms from within and abroad to enhance infra structure modernization contributing to work force expansion rather than contraction could be beneficial to India and global economy reviving multilateral trade.

FDI in this context deprives fair competition with the premise disproportionately lucrative for big corporations predator instincts significantly affecting job market and economic viability.

Obviously, the political opposition is subjected to task in exemplifying prudence and diligence that would determine their commitment or the lack of in safeguarding economic future heavily compromised upon Parliament approval of the FDI bill.

Simultaneously, Indian democracy is challenged in foreign disguised control via proxy rule necessitating civil society activism and intervention to avert catastrophe.

The business associations across the country are required to come forward and assume responsibility in preventing history from repeating itself semblance with East India Company venture that led to imperialism two centuries ago.

Hopefully rationality would prevail in abandoning FDI used as political tool to undermine the legitimacy of largest democracy in the world.

Wishing small entrepreneurs and mainstream success against political collusion in disenfranchisement on economic opportunity.

Peace to all!

Thank you.

Padmini Arhant

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One Response to “India – Neo Liberalization Economic Policy is Anti-Republic Ideology”

  1. Anonymous on January 10th, 2015 7:38 pm


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