Farmers Contribute 2X to GDP than All Bania Industries – Exclusive (C)

Farmers Contribute 2X to GDP than All Bania Industries – Exclusive (C)

 Dear Members of Parliament,

Can you believe India contributes 57 Forbes $Billionaires to the world and more unofficially (there may be hundreds with $b in Swiss Accounts) but their contribution to our manufacturing GDP is barely $100b less than 1% of the world that too assisted by foreign collaborations and technologies – yet most of their Manufactured Products are not of suitable Quality for International Markets and they have not added to manufacturing jobs for decades and GOI allowed them around $100b annually in Tax Concessions? For this Bania Corporate had secured over $500b funds from various sources in India alone but invested $300b approximately in foreign countries and India imports of manufactured goods exceed $300b already likely to exceed $1000b by 2020 – we can’t build industrial capability overnight that ought to have been made in India.   

http://en.wikipedia.org/wiki/List_of_Indians_by_net_worth

‘India currently has 55 "US dollar billionaires" after United States, Chinaand Russia whose (individuals with a total net worth of one billion dollars and above), accounts for roughly 4.5% of the global total of 1210 billionaires across the six continents.’ List has 57 names.

Loot and exploitation in India are such that Registered Indian Manufacturing Large Private Companies contribute just $100b to Indian economy though India has scores of Richest Indians in the World. As per latest data available Rs.1034149 crores or just $200b and as definition of GDP includes contributions by Foreign Companies, PSUs and manufacturing includes MSMEs, thus Bania Corporate contributes just $100b or 12% to Indian GDP – GOI has allowed Bania Corporate almost 40% to 50% of direct bank credit, Banks had taken equity in them, besides securing public and FDI.

Indian farmers contributes Rs.1386882 crores twice more but get just 8% of the Indian Bank Credits compared to Corporate getting at least 10 times more as Direct Credits and Banks, FDI and Public Investments.

REMEDY: -

1. India should immediately ‘Double’ Bank Credits to Farmers, MSMEs and Agro Industries and Agro Industries be reserved for Farmers. This shall Double Earnings of 800m Farmers and 60m MSMEs employees.

2. Every industry and PSU having over Rs.5 crore ($1m) annual sales or budget must have R&D units and employ 10% to 25% staff in R&D and GOI to suitably Promote & Compensate Them in Creating Patents and IPR.

3. 50% of the Bank Credits to be allowed to R&D based industries That Are Export Oriented or Import Substitutes.

4.  GOI to Promote NRIs and Foreign Companies investing in latest Manufacturing Products & Technologies and R&D ventures in India.

5. GOI has to rethink on Promoting Companies who merely assembleImported Components or simply Put their stickers on imported products or Produce Goods Not Conforming to U/L, BIS Standards or Have No Quality Control and R&D facilities.

6. All Registered Companies to give Declaration As Affidavits of with annual reports i) Statement of Value Additions by Company, ii) Statement of Outstanding Bank Credits from all Sources and Loans to other entities and iii) Tax Concessions secured and outstanding taxes.

Thank you,

Ravinder Singh

Inventor & Consultant

Progressindia008@yahoo.com

January08, 2012

Annexures: - 

http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13594

It horrifying to see Corporate in West Bengal bigger in population than Germany Manufacturing Contributes barely $2.5b under Registered Manufacturing units that includes MSMEs and Foreign Companies. Figures for Bihar are even more pathetic just $200m – may be largely due to PSUs like Refineries or Railway Units. Gujarat’s contribution to Indian GDP at Rs. 63,832 crores out of Rs.370400 crores SGDP that also includes Foreign Investments and MSMEs.

Definition of GDP

‘GDP is product produced within a country's borders; GNP is product produced by enterprises owned by a country's citizens. The two would be the same if all of the productive enterprises in a country were owned by its own citizens, and those citizens did not own productive enterprises in any other countries. In practice, however, foreign ownership makes GDP and GNP non-identical. Production within a country's borders, but by an enterprise owned by somebody outside the country, counts as part of its GDP but not its GNP; on the other hand, production by an enterprise located outside the country, but owned by one of its citizens, counts as part of its GNP but not its GDP.’

India GDP Components

http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13590

AAAA - Agriculture And Allied Activities,

Rs. Crores at Current Prices

	AAAA	Industry	(Manufac)	Services
1	3	7	11	15	GDP
1951-52	5245	1283	1171	3431	10721
2009-10	1004594	1169376	931101	3694362	6550271
2010-11	1386882	1328887	1034149	4591221	7875627

States Manufacturing GDP and Compositions

http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13594

http://www.rbi.org.in/scripts/PublicationsView.aspx?id=13592

Manufacturing GDP at Current Prices

in Rs. Crores for Year 2009-10

	7	8	9	SGDP
State	Registered	Unregistered	7+8	2009-10
AP	25238	11536	36775	426816
Bihar	960	4845	5806	154503
Chhatisgarh	17397	1800	19198	93245
Goa	4469	876	5345	22283
Gujarat	63832	20822	84654	370400
Haryana	20205	9168	29373	195762
Himachal	2412	801	3214	35593
J&K	1091	1551	2642	35187
Jharkhand	21164	5014	26179	94814
Karnataka	36112	9972	46084	296720
Kerala	7459	9998	17457	202487
MP	13987	7869	21856	192333
Maharashtra	119723	43207	162930	817891
Orissa	10247	2982	13230	134242
Punjab	17791	11957	29748	177179
Rajasthan	14288	12188	26476	226710
Tamilnadu	42018	25695	67714	417716
UP	27511	25349	52861	453020
Uttarkhand	9328	1597	10926	54435
W. Bengal	13333	16803	30136	366318
Puducherry	2456	527	2984	9472

Forbes Indian Billionares March2011

Forbes list of Indian billionaires is based on an annual assessment of wealth and assets compiled and published by Forbes magazine on March 10, 2011

http://www.forbes.com/wealth/billionaires#p_5_s_arank_-1__66

http://en.wikipedia.org/wiki/List_of_Indians_by_net_worth

Rank	Name	Net worth $b	Industry
1	Lakshmi Mittal	31.10	Steel
2	Mukesh Ambani	27.00	Diversified
3	Azim Premji	16.80	Diversified
4	Ravi Ruia	15.80	Diversified
5	Savitri Jindal & family	13.20	Diversified
6	Gautam Adani	10	Diversified
7	Kumar Mangalam Birla	9.2	Diversified
8	Anil Ambani	8.80	Diversified
9	Sunil Mittal & family	8.30	Diversified
10	Adi Godrej & family	7.30	Diversified
11	Kushal Pal Singh	7.30	Real Estate

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Rank	Name	Net worth $b	Industry
12	Anil Agarwal	6.40	Mining & Metals
13	Dilip Shanghvi	6.10	Pharmaceuticals
14	Shiv Nadar	5.60	C. electronics, IT
15	Shivinder Sinh +	4.10	Pharmaceuticals
16	Kalanidhi Maran	3.50	Media
17	Uday Kotak	3.20	Finance
18	Micky Jagtiani	3.00	Retail
19	Subhash Chandra Goel +	2.90	Media
20	Pankaj Patel	2.60	Pharmaceuticals
21	Indu Jain	2.60	Media
22	G.M. Rao	2.60	Infrastructure
23	Cyrus Poonawalla	2.30	Pharma, Biotech
24	Rajan Raheja & family	2.20	Diversified
25	Desh Bandhu Gupta	2.10	Pharmaceuticals
26	N.R. Narayana Murthy +	2.00	IT & Outsourcing
27	Gautam Thapar	2.00	Diversified
28	Sudhir & Samir Mehta	2.00	Diversified
29	Aloke Lohia	2.00	Chemicals
30	Venugopal Dhoot	1.90	Diversified
31	Chandru Raheja	1.90	Retailing
32	Nandan Nilekani +	1.80	IT & Outsourcing
33	Ajay Kalsi	1.70	Oil
34	Rahul Bajaj	1.60	Motorcycles
35	S. Gopalakrishnan +	1.60	IT & Outsourcing
36	Brijmohan Lall Munjal	1.50	Automotive
37	Kallam Anji Reddy	1.50	Pharmaceuticals
38	Vijay Mallya	1.40	Diversified
39	Ajay Piramal	1.40	Pharmaceuticals
40	Baba Kalyani