India Held Back

NEW DELHI - March 16, 2007 – An antiquated banking system holds back development in India. Government control and old attitudes hold back growth and change.

Janpath, a traffic-choked mini-highway that runs through central Delhi, is home to some of the city's best-known jewelry stores and five-star hotels and, less famously, to dozens of bank branches. Nestled behind metal gates in multi-storey concrete buildings and tucked-down alleyways off the street, they jockey for attention with battered signs and offers of high rates for deposits and low-rate loans.

What is remarkable about these competitors though is that most of them are controlled by the same owner: the Indian government.

Just as the lack of reliable roads, transportation and electricity are dampening India's growth, the country's overlapping and inefficient financial system threatens to choke it. Consultants at McKinsey estimate that $48 billion could be added to India's annual gross domestic product, bringing its growth rate on a par with China's, if the country's largely state-controlled financial system were made more productive.

India's banking system has its roots in centuries-old regional banks that spread as their customers migrated, then were nationalized. The major banks were nationalized in 1969 under Prime Minister Indira Gandhi. Improvements included targets for lending to rural areas and promises of secure jobs, including for the underclass.

The legacy of banks as tools for social reform, though, is colliding with India's plans to become a global economic powerhouse. An estimated 70 percent of Indian citizens are still not reached by banks, and the bureaucracy and inefficiencies of the system are leaching benefits from fast-growing parts of the economy. By Heather Timmons - International Herald Tribune.

Miles to go before you sleep…

We at Librahitech would like to see a government in India that is formed by an younger genre of well-educated politicians who are both pragmatic and patriotic in their approach toward the well-being of the entire populace of the country. Their vision and mission shall also be to transform India to become a world economic power and a model for the poorer nations of this world to emulate.

We, from the desk of Librahitech, herewith send a clarion call to the people of India to be aware that the country belongs to them, and it is NOT the property of the Nehru family.

We would like to add here that as long as the Congress Party is there and runs the government, India will continue to go to the dogs, unless of course the foreign elements and the incompetent old guard in the party is weeded out.



Jai Hind

Employers Cautioned

RAS AL KHAIMAH, UAE, 15 March 2007. Employers cautioned over poor facilities for workers. The Ministry of Labour (MoL), following multiple complaints from workers regarding sub-standard living conditions, poor facilities and several health and safety hazards, has warned sponsors and employers to refrain from violating the law and to resolve these problems at the earliest.

Khamis Bilal, MoL’s Head of Labor Relations, who issued the directive, also cautioned employers not to disconnect electricity and water connections in any of their labor camps or accommodation occupied by their workers.

He added, a Dh10,000 fine and/or other penalties will be imposed for any such deliberate violation of the country’s Labor Law.

A large number of complainants, mostly Asian construction workers, have pointed out that besides poor accommodation facilities, there are also several serious health and safety hazards that they face on a regular basis.

Environmental specialists too have warned that if proper hygienic and sanitary arrangements are not made in the shared flats and apartments occupied by workers, the problem will affect other residents in the neighborhood as well.

Bilal has also asked the the sponsors to respect the workers’ basic rights and offer well-designed accommodation to their employees. By Abdelbagi Idris

Workers are being exploited…

We at Librahitech are very much perturbed about the manner in which the employers treat their employees in this day and age anywhere in the world.

We have information that some top companies in Sharjah too do not care much about the welfare of their employees. Naturally, because these companies are managed by some Raju became Raja personas in that once in position and power they practice nepotism and tyranny. These cretins come through the back door, position themselves comfortably as managers and write their own fatty pay checks, appoint their own yes-sir clowns as their deputies, gets the bonus, profit share, and commissions they demand for themselves, live in flashy mansions, drive top of the model vehicles, travel across the world and eat at their will and leisure at the cost of the companies, are fully covered medically, education of their children is financed by the company, and a host of other goodies, so they have nothing to worry.

They do not require a bank loan or a credit card, because they do not know what to do with their money that was amassed through clandestine operations and brainwashing others in their own corporate arena where they are now kings and emperors. But they are always worried, worried as to how to find ways and means to destroy the downtrodden working class - the under privileged worker - by exploiting them to the last degree. Dhs.3.75 an hour; perish the thought.

In addition, they hate the non-managers driving company vehicles, or parking in the company’s parking lot. They refuse to give letters to the workers to get a bank loan, a credit card, or a driving licence, because they are hell bent to ensure the rich-poor divide is widened. They can only remain in power and be rich by making their workers remain poor at all times.

These minions even refuse to sanction the yearly leave of some workers for as much as 2 to 3 years in a row.

These minions, with a view to please their board of directors create wealth even by renting out the company’s labor accommodations to other companies for a profit, and force their own workers to stay in pigeon hole type rooms - even six to eight of them in a room. If there is a canteen, it does not function in the real sense of the term. The workers are barred from cooking food in their accommodations. And tell us, how do one propose a good night’s sleep to these workers under these circumstances?

Oh Lord, the creator of this world and the people, bestow mercy on us and punish the culprits at your earliest convenience, thank you.

We at Librahitech were not very amused at the mere execution of a Saddam Hussein as it served no purpose, but these hoodlums, the managers of the aforementioned corporate world, has to be exterminated in their totality like rats and cockroaches. And that too, before they think of another scheme to exploit the workers of this world.

Shopping Catalog @ Librahitech

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