The BJP rule is hostile to all sections of the people. But it has been the golden age for the corporates. Its patrons are bourgeois from the Brahmin-Baniya, Sindhi and Marwari castes of Gujarat, including Ambani and Adani. These corporates and the saffrons are inseparable two sides of the same coin and are looting the country and its people.
Bank frauds of Rs. 5.35 lakh crore occurred under the Modi regime in the last eight years. Of these, 23 persons fled the country after indulging in frauds worth Rs. 53,000 crore. Majority of the 23 persons including Nirav Modi, Mehul Choksi and Vijay Mallaya were close to Modi.
The total NPAs (Non-Performing Assets) in the nationalized banks were Rs. 2.83 lakh crore in 2014. It has now risen to Rs. 13 lakh crore. These bank frauds are concrete examples of how the corporates are poaching people’s money.
It is for these corporates, who are indulging in bank frauds, that the Modi government is providing various concessions under the name of ‘promotion of business growth’ in every budget. Modi government reduced the corporate tax from 30% to 22%. The government suffered a revenue loss of Rs. 1.20 lakh crore in a single year between 2019-20 and 2020-21.
On the other hand, there is looting of the public sector. The Modi government, which is actively implementing the recolonizational policies of liberalization-privatization-globalization, is selling the public sector to nurture the corporates close to it. They have created a separate department under the Ministry of Finance called the Disinvestment Department for the sale of public assets.
Between 2014-15 and 2020-21, assets worth Rs. 4.86 lakh crore of public sector stocks were sold to private players. The scheme that has been designed to sell off the entire country to the corporates by disinvestment of public sector stocks is called “Aatmanirbhar Bharat Abhiyan”. The BJP is saying that through the National Monetization Pipeline, which is a part of Aatmanirbhar Bharat, the assets held by the government can be sold to the big corporates to raise funds for infrastructure development.
Under this scheme, the Modi government has decided to lease out public assets worth Rs. 6 lakh crore – including railway lines and stations, telecom sector, power, oil and gas pipelines, roads and ports – to the corporates for 40 years. The BJP government is giving these precious assets created by decades of labour and people’s tax money in the name of ‘lease’. This leasing out of public assets is not so different from selling out; only the name differs.
Instead of saying corporates in general, the corporates that are dearest to Modi such as Ambani and Adani have grown exponentially under the Modi regime. In these eight years, Mukesh Ambani’s wealth has increased by 400% and Adani’s by 1830%.
Between 2014 and 2019, the assets of Ambani and Adani rose to an all-time high. Ambani’s net worth rose 118% to Rs. 3.65 lakh crore from Rs. 1.68 lakh crore. Adani’s net worth increased by 121% from Rs. 50.04 lakh crore to Rs. 1.1 lakh crore. Adani, who was ranked 313 in the list of world’s richest people, has risen to the 12th rank because of Modi’s favour.
Recently, it was revealed that Modi himself had bargained with the Gotabaya government to hand over the Sri Lankan power generation contract to Adani. It has to be noted that, when every time Modi goes abroad, Ambani and Adani are rewarded with various international contracts.
When Modi visited Australia in November 2014, Adani got a 200-km narrow-gauge rail line project from the Australian government. Following the aftermath of Modi’s Bangladesh visit in June 2015, the Reliance group and the Adani group signed an agreement to set up power plants in Bangladesh with an investment of $ 4.5 billion. As a result of Modi’s repeated visits to Japan in August 2014 and in September & November 2016, Adani Logistics along with Japan’s NYK Auto Logistics secured a contract to run automobile freight trains in 2018.
Following Modi’s visit to Russia in July 2015, Russian defence manufacturer Almaz-Antey signed an agreement with Anil Ambani’s Reliance Defence to jointly make missiles. Modi’s 2016 US trip, in turn, resulted in Reliance Defence receiving a contract to repair US warships. The 2015 trip to Malaysia and the port project that Adani received. The list goes on and on. Adani has finally acquired Haifa port, Israel’s second largest port, after the conference of the newly formed I2U2 grouping, which has been created by India, Israel, the United Arab Emirates and the United States.
The corporates have poured out hundreds of crores to the BJP as election donations, in return to the corporate services rendered. According to a report by the Association for Democratic Reforms (ADR), of the Rs. 258.43 crore donations received by political parties through seven electoral trusts from corporates and individuals during the financial year 2020-21, 82.05% of the funds (Rs. 212.05 crore) were received only by the BJP.
On seeing the monstrous growth of Ambani and Adani, a very reactionary section of the bourgeoisie is seeking the RSS’s favour to include them in the fascist camp.
Shiv Nadar, the owner of HCL and Azim Premji of Wipro have spoken to the RSS Chief Mohan Bhagwat. Rahul Bajaj went to the Smruti Mandir to pay tribute to the RSS founder Hedgewar.
Last April, Ratan Tata went to meet Mohan Bhagwat. In 2018, Tata trusts donated Rs. 100 crore to the RSS’s Dr Aabaji Thatte Seva Aur Anusandhan Sanstha, which had served in collaboration with the National Cancer Institute, Nagpur.
Thus, a saffron-corporate alliance has formed and is destroying our country. In order to exercise its control, it is resorting to fascist oppressions. To bring down this fascist alliance, which is acting against the people and against the country, all the people affected by this fascist mob must unite and come together as an Anti-Fascist People’s Front. There is no other choice.