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Sarada Scam in West Bengal – Behind a Shadow economy

By Amit Chakraborty (New Democracy News)
The Sarada scam in West Bengal has created a sensation. The Sarada group, a consortium of over 200 companies that claimed to run a wide variety of schemes, has bankrupted lakhs of small investors robbing them of their life savings. The multi-level marketing scheme of the group — a Ponzi scheme — has taken its toll.
The scam highlights the failure of the Trinamool Congress led government and its regulatory agencies to rein in the mushrooming of multi level marketing companies in the name of chit fund companies in West Bengal. It also brings under the scanner the Trinamool Congress’ close relationship with the group.
The group collected an estimated amount of INR 200–300 billion (USD 4–6 billion) from over 1.7 million depositors before collapsing in April 2013. The Government of West Bengal, where the Sarada Group and the majority of investors were based, constituted an Enquiry Commission to investigate the scam. They set up a fund of INR 5 billion ($92M) to ensure that low-income investors are not bankrupted. The Central Government through the Income Tax Department and Enforcement Directorate also launched a multi-agency probe to investigate the Sarada scam, as well as other similar Ponzi schemes.… Read More

Uncategorized

Appeal for help to Cyclone Affected People of AP and Odisha

Cyclone Hudhud which had a land fall at Vishakhatnam on October 12, has caused deaths and vast destruction in the North Andhra coastal districts of Visdhkhapatnam and Vijainagram besides causing damage in Shrikakulam district and several districts of South Odisha. In worst hit Vishakhapatnam, several bastis have been wiped out and tens of thousands of people rendered without shelter and support. Communications in the affected areas have been disrupted. People’s sufferings knows no bounds while Govt.’s assistance has been slow and small.
Natural calamities find Indian rulers totally unprepared to tackle the havoc unleashed on people’s lives. Despite warnings adequate precautionary measures are not taken and advance preparations are not made for even expected effects of these calamities. Besides policies of rulers being responsible for the destructive effects of natural calamities, their niggardly approach to the difficulties of the people show their utter anti-people character. They remain busy with aerial surveys and sound bites while on the ground people continue to suffer from entirely anticipated effects of such calamities.
CPI(ML)-New Democracy expresses its deep concern at the slow pace and inadequacy of relief work. Central Govt. has yet not declared it as a national calamity. Adequate steps are not being taken to restore communication and provide basic needs to the people.… Read More

Semi-feudal

Khaps, ‘Honour‘ Killings and ‘Love Jihad’ – NO RIGHT OF CHOICE TO WOMEN – DIKTATS OF PATRIARCHAL SEMIFEUDAL INDIA

Many changes have occurred for the young in India. Some happened slowly over the years. The rise in access to television and radio leading to spread of information, to rise of knowledge about consumer products including appliances to lighten household work. Young women and girls opting for education and careers and professions, initially as pioneers. Rising prices and the need for a double income increasing the demand for working girls for marriages. In the background, the comparative falling income from agriculture, making it necessary for some sons of a family to leave home for education and jobs. And over the past two decades the tremendous increase in jobs especially in IT sector and in call centres and in scope of higher education due to privatization, and the crisis in agriculture fuelling seekers of such opportunities. Girls go to schools in tremendously increasing numbers, not just to make better marriages but for careers, for higher education and jobs. The phenomenon has penetrated rural India and girls are increasingly coming to small towns and even living in large cities in hostels, in rented accommodation in groups, to acquire education with potential for jobs and also to do these jobs in bigger cities and in the metros.… Read More

IFTU PDSU PMS

Report on alleged plan of cow slaughter in JJ Colony Bawana

 

 

A team comprising of Dr. Mrigank (Delhi Committee, Indian Federation of Trade Unions, IFTU), Poonam Kaushik (Gen. Secy. Pragatisheel Mahila Sangathan, PMS), Rajeev (Convener, Progressive Democratic Students’ Union, PDSU) visited JJ Colony Bawana and made investigations into the reports of alleged planned cow slaughter and intimidation of Muslims.

[scribd-doc doc=”242200624″ key=”6WpBnUsqtpYjCBlTMRBX”]… Read More

Students

Punish Guilty of Attack on Students of Jadavpur University

The Mamata Banerjee led Trinamool Congress Govt. has unleashed an unprecedented attack against the students of Jadavpur University (JU). On 16th September students of Jadavpur University had organized a programme to meet the executive council of JU demanding proper & impartial enquiry into an allegation of molestation. The Vice Chancellor of the University who is a well known Trinamool loyalist, did not take up the matter properly. In the dark hours of night, when peaceful demonstration was going on, students were playing guitars and singing chorus songs, suddenly, the lights were switched off. Police entered the administrative block and attacked the students. Hundreds of them were injured. Several students had head injuries and chest injuries & were admitted into hospitals. 36 students, including girl students, were arrested. Male police manhandled girl students, there was no lady police during the police action.

Students from different parts of Kolkata, including thousands of students of JU, spontaneously protested against this atrocity. In the early hours of 17th September students organized a road blockade in front of Jadavpur PS . In the afternoon about 5000 students marched protesting the police action, demanding resignation of Vice Chancellor and condemning the anti democratic, anti student role of Mamata Banerjee government.… Read More

CPI-ML New Democracy

Gajapati (Odisha) : Landless tribals and dalits gheraoed Collectorate

On 16th September 2014, thousands of landless peasants mainly tribals and dalits gheraoed the Gajapati collectorate at Paralakhemundi demanding their rights over land and forest. This programme was organized by CPI(ML)ND and Lok Sangram Manch jointly in which more than three thousand people from five blocks (Mandal) of the district participated to press their demands over land and forest right before the state Govt. In Gajapati district landless people particularly the tribals have taken the lead in capturing hundreds of acres of land over the past several years. These include the Govt land, forest land, temple land and even the illegal patta lands of landlords. Coming under the pressure of land movement the district administration (both the revenue and police) had convened meetings on land issue several times in the past and assured the CPI(ML) ND and LSM leaders to distribute the Govt. land among the landless people living in each village. Though the Odisha Govt. several times in the past has promised to distribute the Govt. land to every landless family but it never materialized. As per the Odisha land reform Act also there is provision to distribute the Govt. land in each village to the landless and homeless people.… Read More

Uncategorized

Social and economic cost of “Green Revolution” – by S.S. Mahil

Punjab is the province which became the first state in India to experience the “Green Revolution” which actually was an imperialist model of agriculture. It is very interesting to know why this model of agriculture was named as a “Green Revolution”. Actually imperialism was very much terrified by the Chinese red revolution, as it occurred in a backward and agrarian country, which was yet to pass to the stage of capitalism. This was an alarm bell for imperialism because peasantry, which was a propertied class and hence considered to be a conservative class, played a revolutionary role in the Chinese revolution. Not only that, it was the main force of revolution. In the whole set of backward countries, which were colonies, neo colonies and semi colonies, peasantry was the major section of the population and was potentially a revolutionary force. Imperialism was afraid because if red revolution spread to the peasantry of all backward countries then the existence of imperialism would be endangered. In this context, the green revolution was the imperialist response to the red revolution of China. As Vandana Shiva writes “Green Revolution was prescribed as techno-political strategy that would create abundance in agriculture societies and will reduce the threat of communist insurgency and agrarian conflicts.… Read More

Ruling Class

Defeat of Modi led BJP Across the Country

Money and media power of corporate along with the muscle power of Hindutva forces had propelled Modi led BJP to power on the strength of the decimation of the then ruling Congress. But like their other products, the life of Modi wave manufactured by corporate has been short. Elections held after assumption of power by Modi led BJP Govt. at the Centre, in state after state across the country have brought home this simple truth. Uttarakhand, Bihar, Karnataka, Madhya Pradesh, Rajasthan, the electorally crucial state of UP and Gujarat whose name has been appended to the model propagated throughout the country over the year before Parliamentary elections, all have voted to exorcise the ghost of Modi wave.
Corporate media’s spin doctors had exerted much to portray the massive defeat of ruling Congress as a positive vote for Modi led BJP and his so-called Gujarat model of development. Rejection was portrayed as affirmation. Ruling Congress, with its leadership engrossed in somehow ensuring dynastic succession and its Govt. mired in corruption and perceived as such by the people, was rejected by the people who groaned under deteriorating conditions of existence with sharp rise in prices of essential commodities, increasing unemployment and job losses, worsening conditions of peasantry, increasing attacks on women, dalits and tribals.… Read More

IFTU Labour Laws Trade Union

All India Convention by IFTU – NO TO ANTI WORKER CHANGES IN LABOUR LAWS

On the 11th of September 2014, the National Committee of the IFTU organized an all India Convention in Delhi against the proposed anti worker changes in labour laws. Over three hundred elegates from Andhra Pradesh, Bengal, Bihar, Jharkhand, Delhi, Haryana, Telangana, Punjab and Uttar Pradesh attended the Convention at Ambedkar Bhawan in Delhi. Other Trade Union Centres whose leaders attended the Convention were AICCTU, NTUI, TUCI and AIFTU.
Despite the pouring rain and the consequent delay in arrival of trains, the Convention started off in a packed hall at 12 noon. Com. Aparna (NCM, Delhi) began the proceedings by highlighting the labour law changes being pushed by the Modi Govt. and that the Amendments to the Apprentice Act have already been passed by the Lok Sabha. Meanwhile significant changes in Labour laws have already been passed by the Rajasthan Assembly and are awaiting Presidential consent. She then invited the Presidium and the speakers onto the dias.
A three member Presidium of Com. D.V. Krishna (President IFTU), Com. Kulvinder (NCM Punjab) and Com. P. Prasad (Secretary IFTU from Andhra Pradesh) presided over the Convention and Com. Kulvinder conducted the proceedings. He detailed some of the proposed changes in the labour laws and then began the process of inviting the various speakers to address the Convention.… Read More