India Business
'Corporates benefit from taxpayer but shy of social duties'
May 1, 2007 - 1:45:31 PM

New Delhi, May 1 - Madhu Goud Yaskhi, often dubbed an 'NRI MP' as he left a flourishing law practice in New York to enter parliament, has criticised corporates for enjoying 'all kinds of benefits from taxpayers' money' while shying away from extending even basic facilities to poorer sections of society.

Pointing out that the much talked about GDP growth was restricted only to a few major cities, Yaskhi, Congress MP from Andhra Pradesh's Nizamabad, said: 'We are seeing 9.2 percent GDP growth and only fewer sections of these industrial houses are going all over the globe and purchasing companies.

'But what is their responsibility in terms of India? What are they doing in education and health sectors?' he asked while participating in a discussion on the Finance Bill Monday.

Referring to Infosys chief mentor N.R. Narayana Murthy's objections against reservations for other backward classes - in higher educational institutions, Yaskhi said: 'They need reservation when it comes to land purchasing. They - requested the Andhra Pradesh government to give 500 acres of land for developing as their latest campus. The current market rate of the land is Rs.100 billion, but they wanted it for Rs.800 million.'

Yaskhi, who worked in the United States for 15 years and gave up American citizenship before contesting the Lok Sabha elections, said an average US household spends about $150 monthly for poor people. 'When one of the richest person in the country - Sunil Bharati Mittal of Bharati Communication, who bought a telecom giant recently, was asked about - Bill Gates' contribution of $300 millions to AIDS project in India, he said he was too young to retire.

'This is the response of the corporate sector, which claim all kinds of benefits,' he said.

The MP also questioned tax benefits to the IT sector as it contributes only five percent growth rate. He said the government should focus more on the manufacturing sector, which creates employment.

Yaskhi also urged the government to ensure the effective implementation of the welfare schemes it had introduced for the poor and the weaker sections. Quoting the government reports he said. 'According to the reports of December 2006, only 13 departments have spent just 40 percent of the allocated money.'

'Out of the Rs.25.25 trillion money allotted, only Rs. 13.64 trillion has been spent in nine months,' he said. 'This is a wastage of taxpayer's money.'

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