By- Er.Rajesh Pathak
Not alone from its reserve of fuel oil that the Middle-east or Gulf countries raised its empire of wealth. This they did also by investing the returns from the oil-trade in the ways that could not be grasped by the common man. In Amazon, Walmart, Twitter so much so that in FIFA , the organization running the game of footwall, that the big investments are made by Shaikhs of the gulf. Today we import about 45% crude oil from here. So we get remittances from the Indians engaged in the jobs here; as also we export different products , along with refined oil back to them.
These are the ways the money makes movement to make returns . And, nobody needs to get confused, at least not from the questions raised regarding Gautam Adani’s investments! LIC invested 1.3lakh crore in the TATA group; 42 thousand crore in Birla group; 82.80 thousand crore , ITC; 64.42 thousand crore, HDFC bank; 79.36 thousand crore , SBI ; while in Adani’s it invested 60 thousand crores. And, moreover, overlooking this is no good that LIC being a listed company to be regulated by SEBI and IRDAI. The company manages 55 Lakh crores with the yearly investments of 5.5 Lakh crore , notably .
That Adani should install the power-plant in Bihar this the state-government had wanted since long. But who is that who would not like to refrain from investing in the state like Bihar. So did Adani with all the efforts. However, by allotting the land that the Nitish government somehow managed to have Adani agree on the deal lastly. Now, as always, the critics again stood up with the objection as to why deal is done at so cheaper a rate. But who should make him remind that there are two kind of returns on investment: economic return and revenue return. Who makes investment on the basis of economic return? The answer is, it is the government that makes investment here. For not only in the form of revenue that the economic return is reaped in this case . Take the instance of power plant itself ; this would increase the energy production, in turn many other benefits the state would avail. It would avail the industrial expansion; agricultural growth ; and , thus, the employment generation. This is not like ‘ revenue return on investment’ by the private company or investor. Government does not operate on the basis of revenue return alone . On the economic return , social-welfare and on the basis of comprehensive larger interest of the country it works.
As the country liberated government took over the health-service; irrigation ; social -security and such other sectors in its own hands. For even if it wanted the private sector wouldn’t have involved directly into it. This because here so many those works are done that concern interest at large , which affects revenue return directly. When ,more notably, GDP is taken into consideration , it reflects economic index as a whole not revenue return. And this is what determines the performance of the government.
The land on which the Heavy Engineering Ranchi is established is about thousand acres . Today still on a great stretch of the land that the farming is done. Why did PM Nehru give this land ? Because from this that the economic return was to be acquired . People was to get jobs; so the country, heavy engineering goods in the country itself, putting check on the import. (Jaipur-Dialogue)
However hard one tries to spread confusion among the people, he can’t be successful so long as they are receiving their part from the prosperity of the country . So had been written long back by none other than Jawaharlal Nehru:
“ …for a generation British industry dominated the world, and wealth poured in both from it and the exploitation of India and other dependencies . A part of this great wealth managed to reach even the workers, and their standards of living rose to a height they had never known before. Prosperity and revolution have little in common, and the old revolution spirit of British workers disappeared.” (Glimpses Of World History )
