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So what do these results say about India’s immediate future direction? Well, let’s look at the first figure: 2,000,000,000 — two billion or as it would be termed in India 200 crore rupees. At the time of writing, one pound is equivalent to about 100 rupees.
According to data obtained by researchers, this is the amount of secured and unsecured loans taken out by the BJP and Congress since 2001, mainly it is thought from big businesses.
According to the Economic Times, in 2011-12 alone, the Congress and BJP borrowed 42 crore rupees and 34 crore rupees respectively.
In other words, the two largest parliamentary parties are very much in the pockets of big businesses.
The dominant BJP is now expected to open the way to yet further commercialisation and “liberalisation” of the Indian economy, accelerating capital inflows and outflows, to the benefit of both home-grown and overseas corporations.
This dominance of the capitalist class now extends to the Lok Sabha itself, as shown by the second number I want to share with you — 442 of the MPs in the new parliament are “crorepatis” or have declared personal wealth in excess of 10 million rupees. Full story...
Related posts:
So what do these results say about India’s immediate future direction? Well, let’s look at the first figure: 2,000,000,000 — two billion or as it would be termed in India 200 crore rupees. At the time of writing, one pound is equivalent to about 100 rupees.
According to data obtained by researchers, this is the amount of secured and unsecured loans taken out by the BJP and Congress since 2001, mainly it is thought from big businesses.
According to the Economic Times, in 2011-12 alone, the Congress and BJP borrowed 42 crore rupees and 34 crore rupees respectively.
In other words, the two largest parliamentary parties are very much in the pockets of big businesses.
The dominant BJP is now expected to open the way to yet further commercialisation and “liberalisation” of the Indian economy, accelerating capital inflows and outflows, to the benefit of both home-grown and overseas corporations.
This dominance of the capitalist class now extends to the Lok Sabha itself, as shown by the second number I want to share with you — 442 of the MPs in the new parliament are “crorepatis” or have declared personal wealth in excess of 10 million rupees. Full story...
Related posts:
- India's sham democracy...
- Arundhati Roy: Beware the ‘gush-up gospel’ behind India’s billionaires...
- Who is Narendra Damodardas Modi, India's next Prime Minister?
- Elections Bollywood style: India's chutney democracy...
- Democracy in India, democracy in Switzerland...
- Fifth of India's election candidates face criminal charges...
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