Comments on current economic, social, political and environmental issues
Tuesday, August 7, 2012
Bhupinder Singh Hooda's statement on FDI
Haryana Chief Minister Bhupinder Singh Hooda's statement that the
issue of allowing FDI in retail should be left to the states is
condemnable. FDI in retail trade will not serve any purpose. It will do
more harm than benefit the people, especially to the
unorganised/informal retail sector, which is a vital source of
occupation and livelihood for the multitude unemployed people of the
country, besides being the cushion for those who are displaced from
their occupations/employment for various reasons. Evidences from various
parts of the world indicate that widespread emergence of big format
retail super stores have lead to extensive ruin of retail stores/shops
thereby resulting in the loss of employment and livelihood to millions
of persons involved in retail trade. Research findings have exposed that
large scale unemployment has proved to be social dynamite. That is,
increase in unemployment leads to a series of social problems, like rise
in poverty, alcoholism, domestic violence, indebtedness, suicides and
crime in general, leading to a chaotic situation in the society.
Dr.C.Murukadas,The Hindu Business Line, August 5, 2012
Haryana Chief Minister Bhupinder Singh Hooda's statement that the issue of allowing FDI in retail should be left to the states is condemnable. FDI in retail trade will not serve any purpose. It will do more harm than benefit the people, especially to the unorganised/informal retail sector, which is a vital source of occupation and livelihood for the multitude unemployed people of the country, besides being the cushion for those who are displaced from their occupations/employment for various reasons. Evidences from various parts of the world indicate that widespread emergence of big format retail super stores have lead to extensive ruin of retail stores/shops thereby resulting in the loss of employment and livelihood to millions of persons involved in retail trade. Research findings have exposed that large scale unemployment has proved to be social dynamite. That is, increase in unemployment leads to a series of social problems, like rise in poverty, alcoholism, domestic violence, indebtedness, suicides and crime in general, leading to a chaotic situation in the society.