Saturday, August 25, 2012

5 Myth's of Liberalism/Privatization/Globalization In India!!!

5 Myth about Privatization in India:


Myth 1-private ownership creates Enormous job opportunity: Yes, it creates huge job opportunity but a in stable job market. They promote only temporary jobs not permanent jobs. There is always a different between temporary and permanent job, permanent job provides job guarantee and security. where as in temporary job you can be sent out of job without any notice at any time. 

Myth 2-golbalization leads to Economic growth: yes, Economic will grow but when market falls American recession situation only in India. So its myth that private company develop nation, since without state owned company if Market falls then economic will drop. Economic growth of nation will be unstable and depended on private company.

Myth 3-Liberalism Reduces Corruption: Yes, it reduces corruption but increase scam (we reduce 100rs corruption but lead to 1000 cr scam.) Liberalism may reduce corruption but get involve in huge scams. Its too dangerous for economy if huge scams takes place. Economic development may become in equal and social instability.

Myth 4-More FDI Economic grows faster: Yes, FDI increases capital inflow for development but excess of capital inflow through FDI may not lead to self-reliance of country. Excess FDI creates only more private property rather than overall social development. It will lead to foreign capitalist opening market in our market.

Myth 5-Free Market Economy makes India super power: yes, free economy develops nation but it will never lead to overall development of nation. Free economy is good for investors, business man, traders, capitalist and certain section of people. It will destroy local market for foreign business man. It will affect farmers, labors, employees and weaker class.



Bad Effects of LPG:-

1. Increase in Tax Evasion

Private sector generally tries to avoid payment of taxes. Thus privatization of enterprises will result in the decrease of tax income.

2. Concentration of Wealth

Privatization of large industrial units and services sector such as banks and insurance companies will increase concentration of wealth in private hands. It means only rich people will reap the fruits of industrialization and the society will be divided between “haves and have-nots”.

3. Exploitation by Private Sector

Privatization will result in exploitation by rich people. They may charge more prices for their goods and services. They may terminate workers to reduce cost of production. Thus different types of exploitation may be started and the concept of welfare state for Pakistan will be jeopardized.

4. National Security Endangered

Telecommunication, Civil Aviation (Airlines) and railways if privatized then it would be a security risk for the country.

           

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