From The Hindu dated Friday May 3rd, page 14
(with some apologies for a
personal interpretation)
“Poverty,” said the Asian Development Bank chief, sipping
his bottled water, “amid progress worries me greatly. It is disheartening that in a region of such
rapid progress, we still have a population of more than 800 million people
living in absolute poverty. This, along
with growing inequality, remains an overarching challenge” he said, while making
his presentation in an impeccably tailored suit, in a air-conditioned room at
the Indian Expo Mart at Greater Noida (the outside temperature was 38 degrees Celsius).
The ADB Chief indicated that the bank’s lending programme
may have to be lowered, simply because the income from investments of surplus
resources (which are mostly lent to European
countries) has come down due to lower interest rates. Despite the tight financial position, the
Chief added, the ADB would still be interested in promoting a number of
projects in India (remember, he is greatly worried by poverty). Such projects include the
Delhi-Mumbai Industrial Corridor - no doubt, all of India's poor people live along this line or will migrate to it - and other highway and railway projects. He said that poverty could be eradicated only
through (hold your breath: not food, not jobs & livelihood, not income, not
security, not healthcare or sanitation) infrastructure development and, towards this end,
co-financing with the private sector and attracting offshore funds - perhaps he
had Argentina, Greece and Spain in mind - would “act as a catalyst in promoting
infrastructure finance.”
Then, the ADB Chief seemed to forget everything he had said. “It is because of domestic demand
that India, China and other emerging market economies in Asia have enjoyed
stronger growth and I think it will continue, led by strong consumption demand” he ended.
While he was making this epoch speech, no doubt to applause
and encomium, there were two news items that entered the media radar.
- For the first time ever, all the fourteen districts of
Kerala were declared drought-hit. Perhaps they do not have
infrastructure; of what use is total literacy, when a road to Hell may have made the drought easier to handle?
- The Supreme Court strongly endorsed the role of the gram sabha to decide if land must be given away to infrastructure projects, mining or industry. It is beyond doubt, the Supreme Court said, that there is an organic connection between tribals and their land; that bond must be respected.
- The Supreme Court strongly endorsed the role of the gram sabha to decide if land must be given away to infrastructure projects, mining or industry. It is beyond doubt, the Supreme Court said, that there is an organic connection between tribals and their land; that bond must be respected.
The ADB Chief ended his meeting
early. He had to meet another 82 year old economist who, like him, lives
in an ivory tower, but in New Delhi. And then there was a flight to catch to
another country, where this polemic pronouncement, this passionate plea for poverty purge,
would be delivered to a fawning audience in the comfort of a temperature-controlled convention centre.
