The Modi Ministry is moving fast; not on the issues of the people, but that of the corporates and MNCs.
The Commerce and Industry Ministry has moved for a Cabinet Note, as per media reports, for allowing 100% FDI in Railways, the biggest industry and service in India. The earlier government has planned to allow FDI in profit earning high speed train systems etc. but not complete FDI.
The corporates and MNCs will be extra happy. But what will happen to the common people who have to travel by the Railways? There is no doubt that the charges will be increased high sky and they will stop running train in those areas, where there is no profit. Those will have to be run by the Govt. Railways.
This has already happened in the Airports. The Mumbai and Delhi Airports from which maximum revenue was being received by the Airport Authority of India have already been given to private companies. Chennai, Kolkata etc. ports which are next profit making airports were almost given to private companies but were stopped due to the general elections and certain other complications.
Another move is to privatise the nationalised banks. The proposal was there at the time of the UPA government. It is reported that the UPA government proposal is being considered by the NDA government.
The Prime Minister had stated that this will the government for the poor. Is it going to be the government for the rich and corporates? Are all the public sector going to be privatised ? The people will have to resist this hasty steps towards privatisation of the national assets.