Tag Archives: corporates

BJP got 89% of Corporate Donations!

18 Friday Aug 2017

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BJP has created history by managing to get 89% of the total political donations from the corporates in the country.
According to the report of the Association for Democratic Reforms (ADR), BJP got Rs. 705.81 crores ( in the donations of more than Rs. 20,000), while Congress got only Rs. 198.16 crore, NCP Rs. 50.73 and CPI(M) 1.89 crore. The total of such donations is Rs. 956.77 crores.

The corporates have donated maximum to BJP and they will ensure that they get maximum favours from the government. The decisions taken during the three years after Modi came in to power clearly show that the Corporates have been showered with benefits more than hundred times for the donation received from them.

This government is certainly a Government of the corporates, for the Corporates, by the corporates! Working class and the people at large has to realise this naked truth and fight for getting justice to the common people and the downtrodden.

Reliance Jio may post loss of Rs. 19,000 crore in 2017-18

04 Tuesday Apr 2017

Posted by in Neo-liberal policy

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It is reported in Economic Times that Reliance Jio will register a loss of Rs 19,600 crore in 2017-18 and Rs 11,500 crore in 2018-19.

Jio has got about 100 million customers. It has got a deep pocket and  is trying with all the help from the government to ride over all other telecom companies. Once the other companies are put down, then the charges will be increased and the loss will be made up.

Of course, corporates have no respect for law and ethics. Profit is their only motive. And Reliance tops the list.

Top 10 Corporates alone owe Rs. 5.73 crore to PSU Banks.

03 Wednesday Aug 2016

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Minister of State of Finance, Santosh Kumar Gangwar told the Rajya Sabha yesterday that the top corporate groups in India owe the Public Sector Banks Rs. 5,73,682 crore, the loans taken and not returned. The total NPAs or bad loans by the corporates will come to lakhs of crores of rupees.

This is a clear case of politician-corporates-bank management conspiracy taking away the savings of the people of the country for the benefit of the corporates. Very strong action is required to recover this money.

Now it is leasing of PSUs to private companies!

18 Monday Apr 2016

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one has to accept the fact that the NDA government is expert in ‘selling the family silver’ for a song! During the earlier NDA government, PSUs – VSNL, BALCO, ITDC Hotels etc. were privatised. The UPA government continued the process. After Modi government came, the business of disinvestment and privatisation have taken more aggressive.

The latest plan is to lease out the PSUs to the private companies! The details are being worked out by the government.

There is no doubt that this government is the ‘government of the corporates, by the corporates and for the corporates’.

 

Election Funding by Corporates – BJP and Congress supports

19 Sunday Apr 2015

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Once again it is exposed that the maximum benefits from the election funding by corporates are going to BJP and Congress.

In a recent meeting by the Election Commission, opinions were asked whether Corporate funding of political parties are to be banned. While many of the political parties including the Left Parties opposed election funding by corporates, both the BJP and Congress strongly pressed for corporate election funding.

The Election Commission should take a strong stand and stop the election donation to the political parties by the corporates.

The double-speak of Corporates

20 Sunday Oct 2013

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The corporates have no mercy on their employees or associates, if the latter cheats or do any minor mistake which results loss or bad name to the company. They are immediately dealt with harshly with no quarters given.
But these same corporates make a loud protest and noise, when they themselves are caught cheating the government and booked. Their claim seems to be that they have got a right to cheat the government, bribe government officials for illegal benefits and that neither the people nor the government law enforcing agencies have a right to expose them or punish them. Such actions are termed as anti-industry and against the interest of business atmosphere.
The government is also acting on the same line. Many ministers have criticised the CBI action against the big corporates. Now where is their oft-repeated slogan that ” Law will take its own course?”. Is it not applicable to the corporates who cheat and violate the law of the country? Stop this double standard!

Pay Commission for CG Employees – Crocodile tears by corporates

26 Thursday Sep 2013

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The corporates and big business have started to shed crocodile tears for the finance condition of the country, after the decision of the government to form the VII CPC has been announced. Of course, whatever happens, there will be increase of the salary of employees, which is fully justified. But even the highest salary ( which probably is that of the Cabinet Secretary, being the topmost civil officer in the country) is nothing compared to that of the corporate honchos. Their salaries are in the range of anything from Rs. 10 crore to Rs. 50 crore per annum. Can any civil servant reach there? No. Then why these corporates and big business are shedding crocodile tears in the name of financial condition of the country?

If the media reports and other reports are to be believed these are the same people who avoid repaying loans of hundreds of crores of rupees to the banks. These are the same people who avoid payment of taxes by cheating the government. What right they have to say about the meagre increase in the wages of the employees?

COAI demands, Government agrees

18 Tuesday Jun 2013

Posted by in Telecom

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After implementation of the neo-liberal policy and reforms for more than two decades, a situation has come that the corporates are in a commanding position to place demands to the government and get most of them achieved within no time. In the telecom sector, this is more so.

The COAI, the Association of GSM operators, have put its demand that the FDI in telecom sector should be increased from the present 74% to 100% to get more foreign investments. Within no time, the Department of Disinvestment, Finance Minister, Commerce Minister, Communications Minister – all have echoed that the FDI should be increased to 100%. Department of Disinvestment has even prepared a Cabinet Note and circulated to the concerned ministries for approval before submitting to Cabinet. How quick the mechanism works when it is the demand of the corporates?

Another demand put by the GSM body is that the tax dispute of Vodafone should be settled. Of course, Finance minister P.Chidambaram has already announced that instead of compelling the Vodafone to pay the due tax to the government, a conciliation process will be started. It means that the government has already taken the soft line that the Vodafone need not pay fully. To what extent relaxation can be given and tax reduced is the only point to be known.

The government / TRAI wanted that the roaming charges should be waived altogether to get benefit to the customers. The private operators protested. Now the TRAI has agreed that roaming charges will continue of course with 30% reduction.

COAI has argued that it is not possible to agree with the government decision to provide location-based services in all geographies and also maintaining CDRs  for all subscribers. There is no doubt that this may also be agreed to by the Government. Now a position has reached that the corporates demand and the government willingly succumbs, even if it is against the financial interest of the government.

But what about the demands being raised by the workers? It is even difficult to meet the Minister or higher officers. It requires months for any discussion and sometimes strike for an effective decision.

Of course what the higher ups will get from the workers except sincere and dedicated work! They very well know that the workers have no role in the ‘three times increase’ of their wealth.