India
A PRO-BUSINESS BUDGET CAN BE PRO-POOR
JAITLEY HAS RIGHT FOCUS ON JOB GENERATION
2014-07-30 11:15
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Legendary Apeejay’s Jit Paul, who lorded over Kolkata’s food-fun-n-frolic hub Park Street, once told his friend, West Bengal’s iconic Marxist chief minister Jyoti Basu, that the CPM leader should shed the leftist concept of job creation if he really wanted to create large number of jobs for the state’s unemployed youth. Witty Paul advised Basu to shift his government’s focus on creation of thousands, if not lakhs of employers. The latter would automatically recruit employees in various skills. The period was the early1980s. Bengal was saddled with an unprecedented industrial exodus and sickness mostly due to the Congress government’s freight equalization policy on coal and steel that robbed Eastern India of its natural advantage of the proximity to those vital raw materials, which once made the region the country’s hub of heavy industry, steel and iron making, ordnance factories, electricity generation, shipbuilding, railway wagon manufacturing and engineering outfits, also partly with labour unrest rooted in falling financial and business fortunes of other industries due to dwindling demand for their products and high cost of other raw materials such as petro-chemicals and cotton that came from Western India carrying high freight cost.