Skip to main content

Narendra Modi - friend or enemy of 100 million indian farmers ?

FORBES ASIA has copies of the agreements that show he got the 30-year, renewable leases for as little as one U.S. cent a square meter. He in turn has sublet this land to other companies, including state-owned Indian Oil Co., for as much as $11 a square meter. 

Between 2005 and 2007 at least 1,200 hectares of grazing land was taken away from villagers.

Anand Yagnik, a lawyer representing some of the Mundra villagers, says, “The basic philosophy of a liberal economy is to allow market forces to play its role. Then why do you have to allocate scarce resources to industrial houses at throwaway prices when they have sufficient capital to pay market rates?”
When his son was married in the coastal state of Goa last year, Indian billionaire Gautam Adani’s guest list included the richest man in the country and many a chief executive and top banker and bureaucrat. Most, however, just stopped by the night before to bless the happy couple and skipped the actual wedding. But one prominent friend stayed through all the ceremonies over a couple of days, genial and relaxed like a favorite uncle. It was Narendra Modi, chief minister of Adani’s home state of Gujarat.
Ranked No. 609 in the world with an estimated worth of $2.8 billion, Adaniruns India’s largest port, a power company and a commodities trading business. A large chunk of his business is located in Gujarat, and the government under Modi, who has been running the state since 2001 and now is the favored prime ministerial candidate in the national elections this spring, has been more generous to Adani than to any other industrialist there.
Adani has, over the years, leased 7,350 hectares–much of which he got from 2005 onward–from the government in an area called Mundra in the Gulf of Kutch in Gujarat. FORBES ASIA has copies of the agreements that show he got the 30-year, renewable leases for as little as one U.S. cent a square meter (the rate maxed out at 45 cents a square meter). He in turn has sublet this land to other companies, including state-owned Indian Oil Co., for as much as $11 a square meter. Between 2005 and 2007 at least 1,200 hectares of grazing land was taken away from villagers.
India’s most alluring GDP growth story looks different if you’re Gautam Adani or a villager living off the land.

At a political rally in distant Lucknow in early March, Modi said farmers were his friends and he would stand by them. He also said he would “not allow anyone to loot the exchequer.”
But spend time around the villages of Kutch and a vastly different picture appears. This region was famous for its crops of sapodilla, a brown, fleshy fruit slightly smaller than a tennis ball, as well as dates, coconuts and castor. Area farmers say that that’s no longer the case. (Official stats seem to end in 2006.) Fly ash and saline water from Adani Power and a nearby Tata Power Co. Ltd. plant are spoiling the crops and making the soil less fertile, they say. For miles at a stretch the chimneys of the two power plants are visible against the horizon. Gajendra Sinh Jadeja, the 28-year-old head of Navinal village, says the Gujarat government took some 930,770 square meters of his village’s grazing land for Adani’s SEZ. Adani got it for 19 cents a square meter
The village of Zarapara with its 15,000 residents is one of the largest in the area. When the government gave away some of its grazing land to the Adani SEZ, at roughly 19 cents a square meter, the villagers filed a case in the Gujarat High Court, one of several similar cases filed by residents of other villages. The court in the summer of 2011 ordered the government and Adani to replace that land for the villagers but nothing has happened so far.
Ghadavi, 30, blames the decrease in output on the saline water and the fly ash from the Adani power plant that has polluted the groundwater tables and broken the pollination process. Pointing to his white shirt, the small, wiry man says, “Earlier our clothes used to turn yellow [from the pollen]. Now when the morning dew drips from the tree leaves, the ground turns black from the fly ash.”
The villagers’ lawyer Yagnik argues that Modi, by giving away land so cheaply, is depriving the state treasury of funds. “This kind of subsidization of scarce resources eats away at the public exchequer, and that has a direct impact on distributive justice because then the state doesn’t have enough resources to deal with this inequality,” he says.
After years of receiving complaints of environmental abuse, the federal environment ministry finally, in 2012, named a panel–known as the Sunita Narain Committee after the woman chairing the process–to look into them.
In a report last April Narain’s group confirmed the villagers’ complaints–and fears. It said the Adani SEZ had violated multiple green rules at different points of its mammoth project–destroying mangroves, filling creeks and causing land and water degradation by dumping fly ash.
At the power plant thousands of gallons of water sucked in from the sea through one channel are let out through a pipeline. Once sucked in it’s kept in a reservoir from where it’s pumped into the turbines to generate electricity and eventually is pumped back out.
But almost a year after the recommendations were made the company appears to have done nothing. Meantime, it has plans to expand its 7,350-hectare SEZ to 18,000 hectares.
In an e-mailed response to questions, a spokeswoman for Adani Group said it had been allotted government land after following all established processes and used valuations applicable at the time, ahead of subsequent improvements. “It will be completely misleading if we compare the price of the land before development and after development as an entrepreneur takes risk of investing a large amount to develop this land, and if the commercial venture fails, the consequences are only to the developer,” the company said.
Adani Group said salinity ingress was a local phenomenon and that its power plant used technology to ensure that there was no stray fly ash. It also refuted the observations of the Sunita Narain committee and said while any large development would affect the environment, it was certain that its net impact was positive. Also, all government requirements were followed in setting up its various projects.
Credit: Megha Bahree
In Kutch fishermen and their families set up camp on the beach. Tagadi fishing village is one such camp on the banks of what is now the Tata plant’s outflow channel. Dawood Umar Jaam, 43, has been fishing in the area for the past five years. He has seen a 60% drop in his catch in the last few months and blames it on the plant. As the plant takes in seawater, it also sucks up fish that are still small, killing them instantly, says a fishermen’s trade union known as MASS, active in the area. The plant releases hot water back into the sea, raising temperatures in the immediate vicinity, killing more fish and changing migratory patterns.

Ref:
http://www.forbes.com/sites/meghabahree/2014/03/12/doing-big-business-in-modis-gujarat/3/
http://www.thehindu.com/opinion/columns/sainath/over-2000-fewer-farmers-every-day/article4674190.ece

Comments

Popular posts from this blog

Future of oil is bleak. By 2030, 95% of people may not own private cars which would wipe off the automobile industry

A futurist and clean energy expert, Toni Seba, has predicted that electric vehicles would destroy the global oil industry after a decade. By 2030, 95% of people won't own private cars which would wipe off the automobile industry, he says.

Boeing and JetBlue Airways have announced they would begin selling a hybrid-electric commuter aircraft by 2022. Planned by start-up Zunum Aero, the small plane would seat up to 12 passengers and reduce travel time and cost of trips under 1,600 km.

Ref http://auto.economictimes.indiatimes.com/amp/news/oil-and-lubes/the-future-of-oil-is-almost-here-and-it-doesnt-look-very-pretty/60972841

Can Herbalife 'Afresh' cause insomnia(sleeplessness) and heart problems?

Here is another "great" product from Herbalife. Marketed as an ENERGY drink mix. Few people know it contains Gurana seeds which have no active compound giving artificial energy other than caffeine. Afresh also contains additional caffeine

Ingredients of Herbalife Afresh Energy Drink Mix:
Maltodextrin, Orange Pekoe Extract, Guarana Seed Extract, Acidity Regulator - 330 and Caffeine Powder.

http://mall.coimbatore.com/bnh/herbalife/afresh-energy-drink-mix.htm

http://products.herbalife.co.in/energy-and-fitness/afresh-energy-drink

Side effect include insomnia, sleeplessness and heart problems, It is especially harmful for people with High blood pressure.

http://www.medicinenet.com/caffeine_tablets-oral/article.htm

PPF interest rate cut to 7.9% but are other investment options better? Here's a comparison

The Public Provident Fund (PPF) will now offer 7.9% but experts say it is still a good option for investors. Given that consumer inflation is down to 3.65%, the real rate of return of the PPF is a healthy 4.25%. 

"This is quite impressive for an option that offers assured returns," says Amol Joshi, Founder, PlanRupee Investment Service. "Investors should continue to take advantage of this long-term tax-free product," he adds. 

Even if you compare the PPF rate with the 10-year government bond yield, the scheme is attractive. "The 10-year bond yield is a better benchmark for PPF than consumer inflation," says Manoj Nagpal, CEO, Outlook Asia Capital
Currently, the 10-year bond yield is around 6.8% and the PPF at 7.9% makes it for a premium of 110 basis points. "Historically, the average premium has been around 75 bps. So, the PPF investor is today earning a higher real return," says Nagpal. Even so, some investors may be feeling disappointed by the cu…