Arun Jaitley : Answer Corporate $10 Trillion mess
It is most Laughable – Arun Jaitley third term Rajya Sabha MP compared his defeat in Amritsar to Captain Amrinder Singh by over 1,20,000 Votes when BJP was ruling alliance partner in Punjab to Arvind Kejriwal supported by volunteers loss in Varanasi against PM Candidate was supported by entire part cadre, resources and many big corporate.
Arun Jaitley was president of corrupt DDCA for 13 years is his only political election success as well as failure to manage it honestly.
But he is Corporate facilitator . He repealed FERA that means GOI is Crippled in taking action against Foreign Exchange violations.
17 years two way FDI – Corporate India investing $600b in foreign countries and $900b Foreign Companies investing in India, = $1500b – yield little benefit to India by way of Profits, Taxes or Dividend to retail investors.
Even modest return of 10% would be $2 Trillion Loss.
Hawala operators flourished since repeal of FERA – Even $300b Annual Operation Average Loss two way – $150b each way could be $5 Trillion Loss.
Jaitley let Gujarati Corporate unlimited Access to BANK CREDIT – as FM when Credit to Indian Industry declined sharply in rest of India.
He let Cross Holding in Corporate MOST ILLEGAL & IMMORAL, Helped Corporate takeover most of Retail Shareholding, Derivative Trading, and Commodity Trading. Allowed Fake Companies including Companies registered in Foreign countries that Siphoned Out Profits of Indian companies through legal routes.
Loss to Indians – at $200b is $3.5 Trillion.
Oil & Gas Blocks to RIL & GSPC both Gujaratis were allocated over 100 Oil & Gas blocks when they had no equipment to even develop one block. Let them Drill in ONGC discoveries is endorsed by CAG. RIL was drilling in both ONGC and GSPC discoveries.
Loss to India even at $100b/Year – $1.7 Trillion.
Jaitley helped RIL a Gujarati Corporate – WLL, CDMA, GSM, DTH, IPTV licenses almost free.
All add up to $12T to $15T loss to India.
Ravinder Singh, Inventor & Consultant, INNOVATIVE TECHNOLOGIES AND PROJECTS
Y-77, Hauz Khas, ND -110016, India. Ph: 091- 9871056471, 9718280435, 9650421857
Ravinder Singh* is a WIPO awarded inventor specializing in Power, Transportation,
Smart Cities, Water, Energy Saving, Agriculture, Manufacturing, Technologies and Projects
Views expressed are not of Sagar media Inc company