The way UPA government,led by Dr Manmohan Singh, is moving to reach the'mirage' of the so called development of India, the time is not so far off when entire economy of the country will be drained out and controlled by the capitalist classes ! Instead of bailing out the country from poverty, malnutrition, lack of education etc, the Indian government is building about 100 capitalists, corporates, political classes, industrialists and rich persons in the category of super rich by writing off government dues with them in respect of income -tax, duties on gold and diamonds , excise duty, custom duty etc since 2005-06 to 2012-13. The Forbes, the Oracle of Indian Business Journalism,, which prepares a list each year of billionaires the world over, has named 55 Indians figure on the list (up from 48 last year) in 2013 with an average wealth worth around Rs 190.8 billion. Eminent journalist P Sainath in a recent essay in The Hindu, under headline "The Feeding frenzy of kleptocracy", says, "Since 2005-06, taxes, duties for the corporate world and rich have been written off at the rate of Rs seven million a minute average. Duties waived on gold and diamonds in the last 36 months equal the 2G scam amount."
More over , India ranks five in the world of billionaires on the Forbes List. the rank of the country in 2013 , the ranking of India with regards United Nations Human Index (NHI) remains at 136 out of 186 nations. Over 78 population, specially in rural areas hardly get even one meal a day. The India government seems more serious in waiving spree to rich people instead of strengthening and implementing welfare measures for poverty-ridden people of the country.Many country in Latin America and the Caribbeans except one Haiti are ahead of us.
In 2005-06, the India government has waived corporate income-tax to the tune of Rs 34618 crore, in 2006-07 Rs 50075 crore, in 2007-08 Rs 62199 crore, 2008-09- Rs 66901 crore, 2009-10-Rs 72881 crore, 2010-11 Rs 57912 crore, 2011-12-Rs 61765 crore, 2012-13-Rs 68008 crore ( Total- Rs 474359 crore). Excise Duty waiving has also similar tale ! Right from 2005-06 to 2012-13, the total amount of waiving in respect of excise duty comes to Rs 1121122 crore. Year-wise break-up is 2005-06-Rs 66760 crore. 2006-07- Rs 75475 crore, 2007-08- Rs 87468 crore, 2008-09-Rs 128293 crore, 2009-10-Rs 16121 crore, 2010-11- Rs 192227, 2011-12-Rs 195590 crore and 2012-13- Rs 206188. In respect of custom duty waiving since 2005-06 to 2012-13, the total amount come to Rs 1515688 crore. In 2005-06, such amount was Rs 127730 crore; 2006-07- Rs 137107crore, 2007-08-Rs 153593 crore, 2008-09-Rs 225752, 2009-10- Rs 207949 crore, 2010-11-Rs 172740, 2011-12-Rs 232852 crore, and 2012-13-Rs 253967. Thus in eight financial years, the India government has waived Rs 3111169 crore in the name of so called encouragement for investments.
Before I further write about foregoing revenue in respect of gold, diamonds and jewellery from 2005-06 to 2012-13 as well as per capita availability of cereals and pulses daily in grams in different periods,. I must mention that the budget of the current financial year" has almost nothing worthwhile for say, health or education where there is a decline compared to allocation last year (in proportion to GDP). Ditto for rural development. And micro-rise in for food that will quickly be taken care of by prices." Sadly even the sub-Saharan standards would be an improvement. India ranks 65th in the 79 hungriest nations in the Global Hunger Index (GHI). The GHI score of India for 2012 was worse than it was 15 years earlier in 1996.
Here it must be noted the per capita net availability of cereals and pulses daily in grams. On and average, it is declining in every five years period of 'reforms' without exception. Significantly in the 20 years preceding the reforms -1972-1991-it rose every five year period without exception. Averagely from 1972-76, the availability of cereals was 383.9 grams, pulses -43.8 grams oer capital net availability. Like wise from 1977 to 1981, the availability was 407.5 grams cereals and pulse 40.4 grams, another average availability from 1982-86 was 420.2 cereals and 40.6 pulses and average such figure for 1987-91 was 440.7 cereals and 39.6 pulses. After reform years of 1992-96, the average per capita availability was 439.3 cereals and 35.6 pulses, average 1997-2001-these were 423.7 cereals and 33.6 grams pulses, another average for 2002-06 was 419.6 grams cereals and 32.9 grams cereals and last average of 2007 onwards 4068 grams of cereals and 37.8 grams of pulses on and average. Now anybody can imagine the plight of availability of per capita cereals and pulses per person, which have declined during economic liberalisation years !
India government is paying full attention for benefits to capitalists and rich persons. Have anybody heard any middle class salaried persons or others' liability in respect of income-tax and duties have been waived ? But the government of India is on spree of revenue forgoing on gold, diamonds and jewellery from 2005-06 to 2012-13.. Total sum of Rs 314457 crore have been waived during the these period on gold, diamonds and jewellery. Such figures are:- 2005-06-Rs 16935 crore; 2006-07-Rs 25672 crore, 2007-08- Rs 25586 crore; 2008-09-Rs 27649 crore, 2009-2010 Rs 49164; 2011-12-Rs 65975; 2012-13-Rs 61035 crore.
In this manner, the flagship welfare programmes like MGRGM, Indira Awas, child and women welfare, education, health, subsidised food to poor are suffering in India due to lack adequate funds. But on the other hand , the government is helping with open heart the tax-payers money for the advantage of capitalists, corporates, rich persons in the country. P Sainath says, " one of the biggest write-offs in this year's budget is the custom duty on gold, diamonds and jewellery-Rs 61035 crore. That is no more that what has been written off on crude oil and mineral oils, or even on machinery. The waiver on gold and diamonds in the just 36 months is Rs 1.76 trillion (or what we lost in the 2G scam). It is not as if we have not been generous with them in other secrets, though. The latest write-offs in corporate income-tax is even higher at Rs 68,006 crore. The total revenue foregone this year Rs five.28 trillion as others pointed out, is greater than fiscal deficit Such write offs since 2005-06 is Rs 31.11 trillion. It also means we are writing off taxes and duties for corporate mob and rich at the rate of over Rs seven million every single minute on average."
Sources: The Hundu achieves,, Successive union budgets, Statement of revenue receipts; Economic Survey of 2012-13 and Economic Survey of 2010-11 and various other websites.
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