Prime Minister Narendra Modi has requested World Bank to advise on business friendly regulatory frame work and a team has already arrived in India. The World bank advice, no doubt, will be to give all favours and benefits to the corporates and MNCs.
The Cabinet in this week has cleared 14 amendments to the Companies Act favouring the corporates. It is a good time for the corporates to maximise their profits.
At the same time, the allotment for the MGNREGA has been reduced. Other subsidies are also being curtailed.
Subsidy for the rich and austerity for the poor seems to be the motto of Modi Government. this trend will be disastrous for the country.