From our Reader: Budget – enriching the capitalist monopoly houses and impoverishing the masses

Dear Editor,

The 2 articles which were published on your website on 26th February, i.e. the one on the budget –   “Union Budget 2021-22: Continuing the anti-social offensive to benefit monopoly capitalists”, and the one entitled “Massive escalation of privatisation to satisfy monopoly capitalist greed”, together explain clearly in whose interest this system is organised.

Recently, the Forbes magazine listed the growing rich monopolies in the world, including the 177 who figure from India. This exploitative system serves only the interest of the 177 capitalist monopoly houses.

Every sector has been eyed for privatising by the super-rich monopolies, – education, health, gas and petroleum, coal, banking, transport including airlines, steel, insurance, electricity, telecommunications, and many others. Over the years sports and infrastructure for sports is also being privatised!   This is sheer robbery of public property and goods.

The state of the capitalists is propping up this “democracy” and its electoral process. It makes out as if people decide which party should rule, whereas these parties are in effect the managers of the capitalist class.

People are being asked to tighten their belts, as can be seen from the loss of livelihoods, wage cuts sky rocketing prices of gas cylinders and petrol.  Youth are asking for jobs that were promised at the time of each election, but only lip service is the result. An atmosphere of fear is being created by squashing dissent and the use of black laws to push anybody who opposes or stands for justice into prisons for years on end.

They use their think tanks to bring in new policies and programmes which do not serve the people who deserve assistance. Recently, the Niti Aaayog has suggested revising the coverage under India’s National Food Security Act, 2013. They are planning to reduce the rural population coverage from 75 percent to 60 percent. For the urban population, the suggested cut is from 50 percent to 40 percent. This is one more blow on the working and toiling people of our country.

This capitalist system and its state will continue on this path, because as rightly said in the articles, maximising profit is the main aim, not the wellbeing of the people who produce the wealth of this country.

I hope that these two articles will be translated into as many languages as possible and read and discussed widely.


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