Bjp Silence On Fiis Irks Swadeshis

The RSS-affiliated Swadeshi Jagran Manch (SJM) has reservations on the BJPs manifesto for not mentioning FIIs role in the countrys economy, and also the status of the existing multinational corporations (MNCs) in the consumer sector. In general, however, it has hailed the manifesto for being truly swadeshi in spirit.

The SJM terms the Congress manifesto as pro-foreign investment and dharmful to the countrys long-term interests. The manchs assessment was made at a recent meeting of the organisations steering committee.

The meeting, however, did not consider the manifestos of other parties as the SJM leaders felt they were irrelevant in the present political atmosphere. It would be either the BJP or the Congress that would play a major role in policy formulation, SJM organising secretary Muralidhar Rao held.

 

Any party coming to power would have to stabilise the national economy and the capital markets by devising a monitoring mechanism for the FIIs, he said, pointing out that the BJP had not revealed its attitude.

Even people like Sony chairman Akio Morita and Malaysian Prime Minister M Mohammad had expressed concern over the role of speculators, he pointed out. As recent developments in East Asian economes indicate, the speculators could play havoc with a countrys economy, he said.

Similarly, the SJM is opposed to allowing foreign companies to continue to operate in the consumer sector. The BJPs manifesto had not clarified its attitude to these MNCs, he pointed out.

Barring these points, the BJP had met most of the objections raised by the SJM to its manifesto released during earlier elections, he said, claiming that the partys manifesto had adopted the swadeshi approach on every aspect of society.

The manch is critical of the Congress manifesto for its attempt to justify globalisation. The Congress adopted swadeshi when its enemies were foreigners. Swadeshi during the independence movement was against a foreign outlook rather than foreigners, he said. By trying to redefine swadeshi, the Congress was trying to describe it a a mere tool against foreigners, he said. While dependence on foreign capital was a catchword for the Congress, the BJP had stressed on national effort, national capital and domestic savings.

The BJP manifesto says foriegn capital will be of little value to the economy, Rao pointed out. This is what the SJM had been saying. The Congress had stressed that two to three times more foreign investment than the present level was needed to obtain higher growth, he pointed out.

The Congress was not discriminating while talking of opening the economy to foreign investment, whereas the BJP was categorical that it would not be allowed in non-priority area like the consumer sector, he said. By saying that swadeshi for the BJP was an electoral compulsion and foreign investment a national necessity, the Congress had almost accepted that foreign capital was a national necessity, he remarked.

The SJM holds that the BJPs attitude towards the World Trade Organisation (WTO) was more in comformity with the national spirit that that of the Congress which had earlier signed the agreement and was now talking of honouring it in a responsible manner. The BJP had talked of national concensus and democratic debate and this would send the right signals outside, Rao said. The SJM was particularly pleased with the BJP for recognising the importance of the Bhagidari sector. Sarvodaya, SJM and various other organisations had passed a resolution in 1997 demanding due recognition to this sector. The partys proposal to establish an artisan bank would help protect traditional vocations and prevent migration from rural and semi-urban areas to cities for jobs, he added.