Modi Government’s Biggest Scam: Privatisation of LIC
It is going to have disastrous consequences for the crores of policy holders of the LIC; it is also going to adversely affect the Indian economy.
India’s oldest Socialist Weekly!
Editor: Dr. G.G. Parikh | Associate Editor: Neeraj Jain | Managing Editor: Guddi
It is going to have disastrous consequences for the crores of policy holders of the LIC; it is also going to adversely affect the Indian economy.
After serving for years as ‘ad-hoc’ teachers working under adverse conditions, many such Delhi University faculty members are now finding themselves shunted out of their jobs.
The state-owned power sector employees resorted to striking after a private company requested parallel licensing from the regulatory authority.
The Finance Minister has announced that the government is going to privatise public sector banks in due course. A word of caution for the government about the far-reaching implications of privatising any PSU bank.
While there has been no shortage of awards, gratitude and plaudits to these workers, they have been denied dignified working conditions since the inception of their employment.
As a result of this, the world’s sources of freshwater, representing one of the planetary boundaries designated by natural science, are being monopolized as natural capital by relatively few companies who will be able to charge market rents for the ecosystem services.
Privatisation of grain procurement and cap on procurement subsidies are among the ideas being floated.
Successive governments with a neoliberal agenda have not been able to roll-back nationalization, even after thirty years. That fortuitous ‘failure’ shows that the criticism of public ownership of banking is misplaced, and that neoliberal policies have lost their legitimacy.
So-called electricity markets were created to help private capital, not people. It is time we wound up these bogus markets and returned public services to people, to run cooperatively for their benefit.
The better alternative would be to invest in upgrading BEST and the suburban train system.
Janata Weekly is India’s oldest independent socialist weekly.
Ever since its founding in 1946, Janata has voiced its principled dissent against all conduct and practice that is detrimental to the cherished values of nationalism, democracy, secularism and socialism, while upholding the integrity and the ethical norms of healthy journalism. For more than seventy years now, week after week, it has continued to analyse the changes taking place in the country and the world from a socialist standpoint, and thus promote the spread of socialist ideology in the country.
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