ALL INDIA AUDIT & ACCOUNTS ASSOCIATION
15/1089-90, VASUNDHARA, VASUNDHARA (P.O.), Dt. GHAZIABAD (U.P), PIN-201012
Ph: 0120-2881727/4101593/ 0 – 98681 45667
Website: www.auditflag.blogspot.com
Reference: AIA/Circular-30/2011 Dated: 8th November 2011
To
Unit Secretaries,
Members & Spl. Invitees – NE &
Members of Women's Committee
Dear Comrades,
PFRDA BILL AND FDI ON RETAIL
The moves of the present day government on PFRDA Bill as well as allowing FDI to the tune of 51% in multibrand retail are follow up steps of 'principled' policy decisions of the AB Vajpayee led NDA government. The fact remained that NDA government before taking further steps on both these was forced out of government by the people while the UPA I government was forced by the left parties to abandon further steps on these.
PFRDA bill affects more than one crore employees and their families – with their livelihood and thus the self respect being at stake when they cannot work and earn. The denial of any assured, guaranteed income on superannuation is something that should worry anyone who depends on their salary for eking out a life.
The unfortunate part of the story is that the employee himself/herself do not appreciate the danger the PFRDA bill may wreak on his/her retired life. Any middle class or lower middle class employee may feel the pinch when it directly hit him/her. It may be too late by then.
In the case of FDI (foreign direct investment) in retail trade also, initially there may be boom that may be visible to the middle class – with the small retailers being ejected of the scene in a slow but steady manner. The farmer may get good remuneration initially till the retailer on your neighbourhood is totally perished and the farmer is fully dependent on the big time retailers. The true colour will be seen then. The vendor next door could be a story of the past.
The small time vendors and retailers have foreseen the danger and understood how the FDI in retail trade is going to be the beginning of their end. They came out in good numbers, mobilised and went on strike.
Normally trading communities dislike strikes – they curse who call for strikes. But with the attack directed against them the petty trader has also chosen the path of strike.
The political parties have come out in support of the cause of the retail trader – even those who initiated the idea of FDI in retail.
The government employees are more than a crore – it is nearly 4 crore voters with their family members, with ability to influence an equal number of voters. In many Constituencies the government employees are deciding factor. We have seen in the recent past, with state government employees overwhelmingly voting against, the government of the day get thrown out.
Then why the government employees are not able to mobilise and act decisively on PFRDA bill?
A small community of petty and medium traders can make the government of the day sweat; but much bigger number of government employees is taken for a ride by the party that heads the government and the major opposition party. ("It is a political commitment"- this is what was stated by Shri Yashwant Sinha, Chairman, Parliamentary Committee on Finance to some leaders who met him before the Parliamentary Committee approved the bill!)
Unless the government employees realise their potential and act decisively placing their interests on top we are bound to suffer – for long. We all have to exert pressure on the MP from area to protest against the PFRDA bill.
Every leader, activist and member should realise this, then only we can retrieve the best social security scheme that we have till this date preserved for future.
With regards
Yours fraternally
(M.S.Raja)
Secretary General
