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Tuesday, August 17, 2010

Schizophrenic Economy and the NGO's

Prof. Vaidyanathan hits another sixer here. A fantastic read on its own merit. However, I see another angle here which pertains to the role of NGO's under the UPA regime.
Like the Christian Missionaries who go around claiming to do charity under the guise of spreading their religion, the NGO's have an agenda of their own. When you look at the people involved (Teesta Setalvad and her ilk), you get the idea. They are not interested in doing good. All they are interested is the bully pulpit that the NGO provides them to spread their insidious pseudo-secular agenda. They not only have the backing of the English language media, communists, the real communalists (Muslims and Christians as evident from Kerala and West Bengal) and the liberals but also the UPA government. As per Prof. Vaidya's article below, the NGO's have vast sums of money at their disposal. This is not a good development.

Why economy is growing despite jholawalas and Wall Streeters

The good news is that we are growing in spite of these two albatrosses. The fastest growing sector is services. For instance, between 2004-05 and 2008-09, the service sector (with a 60% share in GDP) has grown at the real rate of more than 9%. The largest components are trade (9.42%), hotels and restaurants (9.88%), non-railway transport (7.8 %) and other activities like plumbing/painting, et al (9.7%). Even “unorganised” manufacturing has grown at 7.7%. These sectors have grown due to domestic household savings and not due to government policies or FDI. And all of them are predominantly partnership and proprietary family-owned firms. They get little credit from banks and government employees extort bribes from them. These are the sectors which are eyed by global predators since they are the fastest growing areas. Interestingly, they are supposed to be the traditional base of the main opposition party, the BJP. But I think they are neither aware of their base nor its growth.
The rest of the article can be read at the following:
http://www.dnaindia.com/print710.php?cid=1424372

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