The views expressed in the article 'How the UPA robbed us of Rs 2,80,795cr'
(DNA 29-08-10) by R. Jagannathan is meaning less and absurd.
The amount refers to the loss made good to oil marketing companies by the government. The profitable ONGC, GAIL and OIL were asked to part with Rs 1,12, 592cr and the rest came from Oil Bonds. Calling these exercise as loot/robbery has no reasoning and without understanding of our complex economy. Consider this -India's 58.4% population is dependent on agriculture, as means of livelihood.However, this segment contributes 17% only to the GDP. It is an indication of resourcefulness of the population depending on it. Of the total 110crpopulation, 37% consists of BPL families. The middle class constitutes another42% (however, this is below the BPL as per international standard). Hence, the subsidies provided to loss making oil marketing companies can not be termed as loot, fraud, since these subsidies benefits nearly 80% of the country's poor and middle class population. What is the alternative? Allowing the petroleum products to be priced at the prevailing oil rates/market determined rates. The country is not yet ready. That will make life miserable for nearly 90%of the country's population. The author's views holds no water, as of today.
Secondly, regarding the DTC bill. There is no end to human wants/wishes.
Government needs money, particularly for rural development, health care,
infrastructure and education. Where do they get it, if the people who have
capacity to pay is let off. Those 'who have' should take care of the 'have not',
that is the true meaning of inclusive growth. I think the government is on the
right track in this regard.