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A Global Shift in Foreign Aid, Starting in India

Discussion in 'World Economy' started by santosh, Mar 25, 2014.

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  1. santosh

    santosh Major SENIOR MEMBER

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    Myanmar largest Indian aid recipient after Afghanistan

    [​IMG]

    Myanmar's president Thein Sein, on a groundbreaking visit to India, inspects an honour guard at Rashtrapati Bhavan (India's presidential palace) on Friday

    China’s smaller neighbours have long been wary of the imposing proximity of the Middle Kingdom. In 1946, when Vietnamese resistance leaders considered Chinese help in throwing off the French colonial yoke, Ho Chi Minh believed China was the greater threat. Dismissing the suggestion, the canny Vietnamese leader famously declared, “The last time the Chinese came (to Vietnam), they stayed a thousand years… I prefer to sniff French dung for another five years than to eat Chinese dung for the rest of my life.”

    Myanmar’s president, Thein Sein, currently on a groundbreaking visit to India, is hardly immune to such fears. With his authoritarian regime driven by a global deep-freeze into Beijing’s sweaty embrace, the growing Chinese presence in Myanmar, looms uncomfortably large especially in the northern region that borders China’s Yunnan province. Myanmar’s decision-makers in their purpose-built capital, Naypyidaw, have begun balancing that unequal relationship. After a year of bold internal liberal reforms, Thein Sein is reaching out to the international mainstream beyond ASEAN. His springboard is New Delhi, which maintained relations with Myanmar in the face of international pressure, including criticism from Barack Obama in a speech to India’s parliament last November.

    India’s forbearance has been vindicated. Over the last year, Myanmar’s civilian (but military-controlled) government has liberalised the media, eased controls over the internet, and begun releasing political prisoners. On Tuesday, a government-appointed human rights body --- a novel concept in Myanmar --- publicly called for the release of “prisoners of conscience”. In a move towards reconciliation, dialogue has begun with the face of democracy in Myanmar, Aung San Suu Kyi.

    All this increases India’s comfort in hosting President Thein Sein; the joint statement issued after his meeting with India’s prime minister today welcomed Myanmar’s “progress in moving towards an open and democratic framework.” Also gratifying to India would be Myanmar’s decision last month (in response to domestic opposition) to suspend work on a $3.6 billion hydroelectric dam that was to supply power to China. Beijing insists that the differences will be settled, but this is a jolt to China’s ambitious infrastructure ambitions in Myanmar, including a corridor of roads, railways and pipelines linking Yunnan, in China, to Kyauk Phyu port in the Bay of Bengal.

    India, meanwhile, is stepping up its role in building Myanmar’s infrastructure. During talks in New Delhi today, India granted Myanmar more than $800 million worth of lines of credit for infrastructure projects, including “railways, transport, power transmission lines, oil refinery, OFC link, etc.” A major Indian thrust is emerging in the development of Myanmar’s agriculture sector, including irrigation projects. Myanmar is emerging as the biggest recipient of Indian development aid after Afghanistan, where India has committed $2 billion.

    This is a positive new direction to New Delhi’s engagement with Naypyidaw, which has often been hamstrung by issues relating to insurgencies in India’s northeast. Four Indian states --- Arunachal Pradesh, Nagaland, Manipur and Mizoram --- share a 1,643-kilometre land border with Myanmar’s Kachin and Chin states and Sagaing division. After their independence, India and Burma (“Myanmar” came into usage only in 1989) agreed to continue the British tradition of allowing border tribes to move and trade freely within a 40-kilometre belt on either side of the border. But the Naga insurgency ended that; with Naga militants transiting through Burma to and from training camps in China’s Yunnan province, New Delhi unilaterally imposed a permit system in 1968.

    In 1994, as relations warmed after a quarter century of chill, New Delhi and Yangon signed the Indo-Myanmar Border Trade Agreement. This allowed for a Land Customs Station (LCS) at Moreh, in Manipur, which permits three forms of trade. Residents of the 40-kilometre border belt can barter locally produced goods worth up to US $1,000, with a simplified documentation system. Secondly, barter trade is permitted in 22 items up to a value of $20,000, provided the traders have an Importer Exporter Certificate (IEC) from the DGFT. Thirdly, any Indian trader can export goods to Myanmar through LCS, Moreh as regular export in accordance with the Foreign Trade Policy. :coffee:

    Today both countries agreed to expand that commerce. Another LCS will be established between the two countries. A “Trade and Investment Forum”, incorporating businessmen from both countries, will “expand the basket of goods under border trade, [and arrange the] visit of an Indian banking delegation to Myanmar to facilitate better trade and payment arrangements, etc.”

    As Myanmar opens up to India, New Delhi’s immediate challenge is to win over politically alienated factions in its own northeastern states, which threaten to play spoiler in physically connecting India with Myanmar. Access to the Moreh LCS in Manipur is controlled by a multitude of Kuki and Naga tribal factions, with National Highway 39 --- running through Nagaland and Manipur --- blockaded for months at a stretch. In the circumstances, ambitious Indo-Myanmar projects like the Kaladan Multi-Modal Transit Project, which seeks to connect Myanmar’s Sittwe Port with India’s northeastern states like Mizoram, will remain hostage to internal conflicts within India.

    President Thein Sein, who began his three-day state visit to India on Wednesday with homage at Buddhist shrines in Sarnath, Kushinagar and Gaya, is accompanied by practically his entire cabinet and the Chief of General Staff in the Ministry of Defence. He returns to Myanmar tomorrow after a morning visit to the Indian Agricultural Research Institute.

    Broadsword: Myanmar largest Indian aid recipient after Afghanistan
     
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  2. santosh

    santosh Major SENIOR MEMBER

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    Africa biggest recipient of Indian aid

    With Africa being the largest recipient of Indian aid, New Delhi has initiated a host of steps, including the setting up of a central channelising agency, to inject greater transparency and swiftness in delivery systems.

    "We believe in providing total transparency in all our operations. It's a fact that in the last four-five years Indiahas emerged as one of the big donors among developing countries for less developed and smaller countries," External Affairs Minister S.M. Krishna told IANS in an interview.

    "We have worked out a system to ensure transparency and will not be found wanting," he replied when asked about the oft-iterated allegations of funds diversion and delays in delivery of aid.

    "Till now, our aid budget has been small. However, it's been growing for some time. Prime Minister Manmohan Singh announced $5 billion for Africa at the second India-Africa Forum Summit in Addis Ababa last year," he said. :coffee:

    Amid China's aggressive diplomatic outreach in the developing world, India has scaled up aid and soft loans of over $11 billion to developing countries as part of its long-term strategy to push India's strategic interests through economic diplomacy and soft power projection.

    The foreign aid, which India likes to call developmental assistance, includes $7.5 billion to Africa, $2 billion to Afghanistan, $1 billion to Afghanistan, $1 billion to Myanmar and substantial aid to neighbouring countries like Nepal, Bhutan, Sri Lanka and the Maldives. :india:

    "It's one of our key priorities to provide a structural framework for dispensing aid. All aid is now being channelised through the Development Partnership Administration (DPA)," Krishna said. The DPA was set up in January in a bid to enhance India's soft power and economic diplomacy through swifter aid delivery.

    Krishna said the DPA's strength will be doubled over the next six months in view of the need to fast-track commitments made by India to various countries.

    The DPA currently comprises around 20 officials who also include professionals from other countries and brings under one umbrella all aspects related to project implementation, ranging from monitoring implementation and auditing impact assessment. :coffee:

    Experts from other ministries, including the railways, telecommunications, agriculture and human resource development, are being brought on deputation into the DPA'a fold. Experts also join from outside the government as consultants on a project-to-project basis.

    Although the DPA, a department of the external affairs ministry, was set up in January, it acquired traction only after the BRICS summit of emerging powers in March-end. The DPA is headed by P.S. Raghavan, additional secretary in the external affairs ministry.

    Underlining the need for probity, Krishna also stressed that he wants to keep the ministry's operations and activities above board. "That's why in all projects related to the ministry, we have an open tendering system so that we can get the best service provider for a particular project. These contracts are not done through nomination," he said.

    Welcome To India Africa Connect - India in Africa - Africa biggest recipient of Indian aid
     
  3. rocky.idf

    rocky.idf BANNED BANNED

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    India's unwanted/unwelcome credit line is principally aimed at dumping low standard goods on us. But graft in both India and BD must be seen as the driving engine.
     
  4. santosh

    santosh Major SENIOR MEMBER

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    no-one can force you to either accept aid or buy low quality products. and its mainly the buyers, who may either chose to buy an expansive or a low priced/low quality product. even if there is a truth behind your statement......

    even in the european market, we still find German/Japanese products having good business, even if Chinese products have got enough Cost Based Competitive advantage. and it finally come to the pocket of a buyer of Western nations, who may pay twice for a Japanese TV or prefer to go for a Chinese one, for example :coffee:
     
    Last edited: Jul 12, 2014
  5. rocky.idf

    rocky.idf BANNED BANNED

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    Then you do not know the Indian regulations involved and the procedure followed to dish out sales to nominated firms.
     
  6. santosh

    santosh Major SENIOR MEMBER

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    22,000 new scholarships for African students in various academic courses:india:

    New Delhi, Mar 1 (ANI): Highlighting India's commitment to development in Africa, Minister of State for External Affairs Preneet Kaur said here on Thursday that 22,000 new scholarships for African students in various academic courses and training programmes, including special agriculture scholarships and C.V. Raman fellowships have been made available. :tup:

    Kaur, who was addressing the inaugural session of India-Africa Science and Technology Ministerial Conference, said proposals for the institutional strengthening of identified institutions in Africa and the transfer of need based technologies have also been initiated.

    "There is a provision for 22,000 new scholarships for African students in various academic courses and training programmes including special agriculture scholarships and C.V. Raman fellowships," said Kaur.

    "As per India's commitment to assist African countries in the field of Science and Technology, proposals for institutional strengthening of identified institutions in Africa and transfer of need based technologies have also been initiated," she added.

    She informed that her ministry has duly secured approvals from the Union Cabinet to support these initiatives through its "Aid to Africa" budget.

    Kaur also said that India has successfully implemented the Pan-African e-Network Project, including tele-education, tele-medicine and connectivity between leaders in 47 African countries and an agreement has also been signed for its implementation in the 48th country, South Sudan recently.

    Under the framework of the Science and Technology Initiatives for Africa, Department of Science and Technology in partnership with Ministry of External Affairs organised the 'India-Africa Science and Technology Ministers Conference'.

    This major ministerial level event has being organised in close coordination with the African Union Commission and is being attended by science and technology ministers from across the African continent along with senior official from various countries. he event is expected to provide a platform for the advocacy, outreach and commitment of India under the framework of the New Science and Technology Cooperation Initiative with Africa.

    The ministerial conference also intends to help to develop linkages and also secure the interests and commitments of the African partners to this Indian initiative. (ANI)

    22,000 new scholarships for African students in various academic courses: Preneet Kaur
     
  7. santosh

    santosh Major SENIOR MEMBER

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  8. santosh

    santosh Major SENIOR MEMBER

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    Foreign cos pulling more money out of India

    May 25 (Reuters) - Foreign direct investment, the sort of sticky long-term money India craves to fund its current account deficit and build up its infrastructure, may not be so stable after all.

    According to a Nomura report, multinational companies have been pulling money out of India at an accelerating rate, moving $10.7 billion out of the country in 2011, up from $7.2 billion in 2010 and just $3.1 billion in 2009. :coffee:

    Outward flows are bad news for a country that this week saw its rupee currency hit a new record low as investors worry about its hefty fiscal and current account shortfalls, slowing economic growth and policy gridlock.

    Still, corporate funds continue to enter India even as existing investors exit. Inbound foreign direct investment surged 88 percent to a record $36.5 billion in the fiscal year that ended in March, according to official data.

    "Global deleveraging may have forced companies to sell their Indian assets and repatriate funds to their home country," Nomura analysts wrote in the Friday note.

    "At the same time, domestic push factors such as slowing potential growth, the high cost of doing business and regulatory uncertainty have weakened the investment climate, likely causing this erosion. This is not a good sign."

    Telecoms companies Etisalat of Abu Dhabi and Bahrain Telecommunications Co are leaving India after their mobile phone licences were among those ordered cancelled by an Indian court amid a corruption probe.

    New York Life recently exited its 26 percent stake in an Indian insurance venture with Max India for $530 million, while U.S. mutual fund giant Fidelity Worldwide Investment recently struck a deal to unload its India unit to local company L&T Finance Holdings.

    Foreign companies have been increasingly frustrated by regulatory uncertainty and a lack of reforms. Rules that would allow foreign companies into the supermarket and airline industries are stalled.

    Vodafone, the world's biggest mobile carrier, has repeatedly clashed with authorities in India, which is trying to collect more than $2 billion in taxes from it through a retroactive law change, even after India's highest court ruled in the company's favour.

    Vodafone, the biggest overseas corporate investor in India, has said it will not walk away.

    The Nomura report said the services, manufacturing and real estate sectors probably saw "the maximum outflow".

    Foreign cos pulling more money out of India-Nomura| Reuters
     
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  9. santosh

    santosh Major SENIOR MEMBER

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    .
    I made few comments on Mr Gate's comment on "2nd February 2014" in this regard as below. i think it may have a place in this thread too :tup:

    Mr Bill Gates Comment, "What does it cost to save the life of a child? The answer may surprise you: 2014 Gates Annual Letter: Myths About Foreign Aid - Gates Foundation" :coffee:


    My Comment on Mr Gate's Twitter on 2nd February 2014:-

    1st; at present, its all about awareness of the information available, but I do favor foreign aid for the Least developed countries
    2nd; and i do give a credit to a developing country like India, which certainly doesn't need foreign aid, and also help others by Aid :india:

    3rd; im running a thread to detail Indian support for LDCs. and the best i like here, India's support for scholarship/technologies for them

    4th; post#17 is the best news of the thread as below. which we demand from developed nations too, more scholarships than aid:tup: (post#66 of this thread too.)

    http://www.indiandefence.com/forums...-receiver-donor-foreign-aid-2.html#post249989
    :cheers:
     
    Last edited: Aug 20, 2014
  10. santosh

    santosh Major SENIOR MEMBER

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    with reference to the above news on Mr Gates's website, Its simple that LDCs can't live without Foreign Aid, and most of the Brit population aren't qualified enough to be part of knowledge based discussions, as per my experience. comparing India, China type developing countries with Least Developed Countries is one of the excellent example in regard....... its simply a crime to support idea to withdraw Aids from LDCs, as these Aid generally means for helping LDCs on very basic issues of life. even if India is a developing country with the highest poor population too, it may manage to offer over $1.0billion+ foreign Aids for many LDCs, as part of India's Annual Budget........

    and here, there must always be a test of 'mentality' too, before we invite political talks on international levels, and we always find UK based people to be living in the ideas of mid 20th century, to keep feeding their mentality of superiority, without any credibility :tsk:. putting emerging economies like India/ China in the category of LDCs, and hence, either Aid to India/China or to none of LDCs too, is just a sign of their poor educational background, backed by poor mentality of mid 20th century they keep while participating in any political talks :facepalm:

    => Least developed country - Wikipedia, the free encyclopedia

    here, its true that corruption is high in poor countries, and very high in LDCs and this is how it works. as life is tough in LDCs and Developing countries, no Welfare so people do adopt corruption some times. and the Idea of more scholarships for different courses to them does means to make them stand on their own. but corruption can't be the reason to hide the intentions behind foreign aid to LDCs, which is about helping very poor people for basics of life, even if a part of it goes in corruption, which too is acceptable to an extent, i sincerely believe.......
     
    Last edited: Aug 20, 2014
  11. santosh

    santosh Major SENIOR MEMBER

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  12. santosh

    santosh Major SENIOR MEMBER

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    Poor Little Rich Country
    BY PATRICK FRENCH | JUNE 24, 2011

    How do you categorize India, a nation that is at once fantastically wealthy and desperately poor?

    [​IMG]

    In May, the Indian government announced that it was giving $5 billion in aid to African countries in the interest of helping them meet their development goals. "We do not have all the answers," Prime Minister Manmohan Singh said, "but we have some experience in nation-building, which we are happy to share."

    The British could be forgiven for being annoyed with Singh's largesse. Britain, after all, currently gives more than $450 million a year in aid to India, and has plans to continue doing so for at least the next few years. The British economy is bumping in and out of a recession, while India's gross domestic product is growing at more than 8 percent a year. This has put the British government in the rather bizarre position of having to sell bonds in order to donate money to Asia's second-fastest-growing economy, even as the latter is itself getting into the philanthropy business.

    The policy is unpopular with most of the British press, which argues that because India has a space program and some flamboyant billionaires, it does not need aid -- especially when Britain cannot really afford it. (When the Labour government was voted out at last year's general election, the departing Finance Minister Liam Byrne left a one-line note on his desk for his successor: "I'm afraid there is no money." It was a joke -- but it was also true.) Nevertheless, Britain still sees itself as a donor nation, with all the obligations and international prestige that entails. This comes in part from a sense of postcolonial guilt: Prime Minister David Cameron spoke recently of a "sense of duty to help others" and the "strong moral case" for giving aid.

    The situation suggests just how dramatically the economic rise of Asia has undone centuries of experience, and the expectation that the West will retain the hegemony it has had for the past 400 years. It is increasingly difficult to classify whether a nation is rich or poor, and terms such as "the Global South" and "the Third World" have to be heavily qualified to take into account the fact that large sections of the population in countries like China, Brazil, and India now have a purchasing power matching that of people in "the West."

    In 1951, the American diplomat Bill Bullitt described the condition of India in Life magazine: "An immense country containing 357 million people," he wrote, "with enormous natural resources and superb fighting men, India can neither feed herself nor defend herself against serious attacks. An inhabitant of India lives, on average, 27 years. His annual income is about $50. About 90 out of 100 Indians cannot read or write. They exist in squalor and fear of famine." Today, it would be hard to make such an absolute statement about India. Poverty certainly remains a chronic problem, but it exists alongside pockets of substantial wealth. An Indian's life expectancy at birth now stands at 67 years, and continues to rise. It is necessary perhaps to think in a different way, and to see that a country like India, like Schrödinger's cat, exists in at least two forms simultaneously: rich and poor. :coffee:

    The most important change of the last two decades, since the beginning of economic liberalization, has been the transformation of middle-class Indian aspiration. Although the stagnant days of the controlled economy and the "Permit Raj" -- when important decisions depended on a bureaucrat's authorization -- had their own stability, they also stifled opportunity and individual talent. Members of the professional middle class frequently preferred to seek their fortune in more meritocratic societies abroad.

    The modern Indian middle class has a new chance to shape its own destiny in a way that was not previously possible. You can move to your own house using a home loan and live outside the joint family; you can buy a car that is not an Ambassador or a Fiat; you can travel abroad and see how people in other countries live; you can watch your politicians accept bribes or dance with prostitutes on television in local media sting operations while surfing your way to Desperate Housewives or Kaun Banega Crorepati, an Indian adaptation of Who Wants to Be a Millionaire? Businesspeople who have succeeded on their own merits overseas, such as PepsiCo CEO Indra Nooyi, are presented as national heroes.

    Poor Little Rich Country - By Patrick French | Foreign Policy
     
  13. santosh

    santosh Major SENIOR MEMBER

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    Dollar Billionaires in Poor Countries: India’s “Philantrocapitalism”
    September 10, 2012

    In this time of global financial crisis, when so many are suffering financial hardship, most countries have witnessed increases in their number of dollar millionaires. These ‘High Net-Worth Individuals’ (HNWI), according to a report by Capgemini and Merrill Lynch Wealth Management, have in recent years more than doubled in India. In 2008-09, India had 84,000 HNWIs. By 2010, it had risen by 50 per cent (126,700), the biggest increase of all countries.

    In the worldwide list of dollar billionaires for 2010, India ranked third with 69, behind China (128) and the US (403). Forbes states, however, that the wealthiest 100 Indians are collectively worth $276 billion, while their top 100 Chinese counterparts are worth $170 billion. The three richest Indians together had more wealth the top 24 Chinese billionaires combined.

    You don’t have to look very far for evidence of their wealth, with more than 30 luxury skyscrapers springing up in Mumbai. For the rich occupants, the taller, the better, to escape from the reality of India below — the railway tracks, low-rise tenements, choking traffic and the 55 per cent of the city’s population who live in slums. People are paying nearly two million dollars for a designer apartment, built in complexes with private cinemas, swimming pools, floodlit tennis courts and high-level security. Developers believe each year Mumbai can absorb between 30,000 and 40,000 more homes in the one million dollar-plus category. (Another housing bubble in the making?)

    Such extreme wealth doesn’t go unnoticed. In the UK, people are questioning the decision to keep giving India some $460 million of aid annually, which makes India the largest single recipient of British aid. Many ordinary Brits are asking if it can be right that the downtrodden British taxpayer gives such sums to a nation that boasts such wealth (albeit highly concentrated). :coffee:

    Siphoning off the country’s wealth

    Some of the most damning comments about India come from French author Dominique Lapierre, whose book royalties from ‘City of Joy’ fund projects for the underprivileged in India. He is frustrated by the greed and corruption that he encounters.

    Lapierre’s non profit organisation, City of Joy Aid, runs a network of clinics, schools, rehabilitation centres and hospital boats. It operates 14 projects in India, most in the Sunderbans area. However, 90 per cent of free medicines get stolen in the journey from Delhi to Kolkata, and the project is thus forced to buy them at high prices from the market.

    A few years ago, Lapierre set up in Delhi a trust which offers a tax-deductible certificate for all donations. With more than a hint of disappointment, he notes the foundation still does not have any funds from affluent Indians who seem reluctant to help their fellow country-folk.

    Quite the opposite, it seems. Much of India’s wealth has been creamed off into Swiss banks, robbing ordinary folk of a quality of life they can now only but dream of. According to some estimates, it could be over Rs 7,280,000 crore (around $1.6 trillion). Data from the Swiss Banking Association in 2006 indicated that India had more black money than the rest of the world combined, or 13 times India’s total national debt. :facepalm: Global Finance Integrity notes this siphoning of wealth has served to widen the gap between rich and poor and asserts the main guilty parties have been private organisations and High Net Worth Individuals.

    By contrast, Global management and consulting firm Bain notes philanthropic donations amount to just 0.6 per cent of India’s GDP. This is not too good when compared to giving in the US and UK, for example, but is better than rates in other developing countries like Brazil and China. In the US, individuals and corporations are responsible for 75 per cent of charitable gifts, whereas in India individual and corporate donations make up only 10 per cent of charitable giving. Some 65 per cent comes from India’s central and state government, and the remaining gifts are provided by foreign organisations.

    In India, giving does not rise with income and education. As a percentage of household income, donations by the wealthy actually decrease. From an analysis of 30 HNWIs in India, Bain noted that they contribute, on average, just around one-fourth of one per cent of their net worth to social and charitable causes.

    All of this is not meant to imply that philanthropy is absent in India. Far from it. Vineet Nayyar’s Rs 30 crore gift (just under $7 million) to the Essel Social Welfare Foundation is a high-profile example of philanthropic giving. Over the years, Rohini Nilekani has donated $40 million to numerous causes that try to tackle the root causes of social problems and not merely the symptoms. Her biggest contribution has been to Arghyam, a Bangalore foundation that promotes clean water and hygiene, which now has projects in 800 villages. Philanthropy can and does positively impact people’s daily lives.

    Philanthrocapitalism: a plaster on a gaping wound

    What is really required, though, is a proper redistributive system of taxation, effective welfare provision and genuine economic democracy through forms of common ownership to help address inequality and poverty. In the absence of such things, wealthy philanthrocapitalists will have a major say in deciding which problems are addressed and how, and some will be highly selective.

    For instance, critics of Bill Gates say his foundation often ends up favouring his commercial investments. Instead of paying taxes to the state coffers, he donates his profits where it is favourable to him economically, such as supporting GM crops in Africa or high tech patented medicines. ‘Giving’ often acts as a smokescreen for channeling funds into pet projects and ‘business as usual’, with rich corporations receiving money to shape the world in their own image and ultimately for their own benefit. Apparent benevolence can have sinister motives, just like certain governments which provide money in the form of ‘development aid’ that is intentionally used to fund actions that serve geo-political self interest and ultimately undermine the recipient state.

    Philanthropy isn’t necessarily opposed to capitalism; it’s very much part of it. Capitalism is designed to ensure that the flow of wealth goes upwards and remains there via, among other things, the privatisation of public assets, deregulation of the financial sector, the use of subsidies and tax policies that favour the rich, the legal obligation to maximise shareholder profits and the consistent downward pressures on labour costs.

    Professor Ha Joon Chang of Cambridge University says that economics isn’t a social science anymore, but adopts the role the Catholic Church played in medieval Europe. Essentially, economic neo liberalism is secular theology used to justify the prevailing system, with the hope that some drops of wealth will trickle down an extremely thin funnel to placate the mass of the population. Widening the funnel slightly by making benevolent donations will not address the underlying issues of a failed system. :usa: :tsk:

    For example, consider that one in four people in India is hungry and every second child is underweight and stunted. Environmentalist Vandana Shiva argues that hunger is a structural part of the design of the industrialised, globalised food system and of the design of capital-intensive, chemical-intensive monocultures of industrial agriculture. The long-term solution for hunger lies in moving away from and challenging the centralised, globalised food supply controlled by a handful of profiteering corporations.

    This type of built-in structural inequality, whether it concerns hunger, poverty, housing, income or health, is part and parcel of a development process that is skewed by elite interests in India and at the World Bank and by the corporations that pull the strings at the World Trade Organisation, who have all succeeded in getting their ‘globalisation’ agenda accepted. No amount of philanthropy, regardless of how well meaning it may be, will remedy the overall destructive effects of the type of capitalism (and massive corruption) being embraced by India’s economic and political leaders.

    Originally from the northwest of England, Colin Todhunter has spent many years in India. He has written extensively for the Bangalore-based Deccan Herald, New Indian Express and Morning Star (Britain). His articles have also appeared in many other newspapers, journals and books. His East by Northwest site is at: East by Northwest :tup:

    Dollar Billionaires in Poor Countries: India’s “Philantrocapitalism” | Global Research
     
  14. santosh

    santosh Major SENIOR MEMBER

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    Amid slowdown, India ramps up aid for neighbours
    Mar 18, 2012

    NEW DELHI: A difficult economic situation notwithstanding, India will be stepping up its assistance programme to its neighbouring countries in the coming fiscal.

    The biggest chunk of India's assistance programme is reserved for Afghanistan, Myanmar and Bhutan that are provided for in the 12th five-year Plan. But under the non-plan head, Bhutan takes the largest chunk with a combined loan-grant amount of Rs 1,500 crore. Bhutan has traditionally been the largest recipient of Indian aid, with massive hydro-electric projects being covered in the Plan expenditure. :tup:

    Afghanistan and Myanmar are big recipients, both strategically vital for India's security and economic interests. India has invested heavily in infrastructure projects in Afghanistan, including roads, parliament buildings and capacity building for the Afghans in various fields. India also runs the biggest children's hospital in Kabul. :tup:

    However, recently, India won the Hajigak iron ore mines that will necessitate building several roads connecting the mines to border points. A new component of India's aid package to Afghanistan is in the security sector. As a result of the strategic partnership agreement with Afghanistan last year, India is committed to training and equipping Afghan national security forces. This will include training programmes, to be mainly held in India.

    New Delhi is building a multi-modal transport system in Myanmar that could also serve to improve trade with the country that India now regards as the gateway to south-east Asia. :cheers:

    Other countries that will continue to receive Indian aid this fiscal is Sri Lanka, where India has invested in rehabilitation and rebuilding programmes in the north, railway lines and oil terminals as well as building houses for the internally displaced persons from the Tamil regions. Bangladesh also takes a sizeable chunk of Rs 250 crore after the PM announced a $1-billion credit line for the country in 2010. :coffee:

    Bafflingly, the government spends a minuscule amount for "energy security" in the MEA, but it's so small that it's unclear what this would be used for. Equally strangely, Mongolia gets Rs 2 crore this year from India, but the reason for that remains unclear.

    Amid slowdown, India ramps up aid for neighbours - Times Of Indi
     
  15. santosh

    santosh Major SENIOR MEMBER

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    India has over $1.3billion+ foreign aid for LDCs category countries every year, as part of their annual budget. but the most important thing i like about their contribution in infrastructure building, as per the news of last post :coffee:
     
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