India's super profit; Manipur mortgaged
- Part 5 -
Campaign for Peace & Democracy (Manipur) *
Accumulation of Capital
Bribery, corruption and misappropriation of fund at the superstructure level and service sectors have deprived a large chunk of peasants and workers of positive investment, free and fair resource mobilisation, and other economic opportunities[47].
Capital is dominantly accumulated by a microscopic section of the population basically composed of political leaders, bureaucrats, smugglers, absentee landlords and professional groups who ran profiteering enterprises and indulge in corruption and misappropriation of fund.
The microscopic section is least affected by the economic crisis as long as they are agents and promoter of finance imperialism. The capital they accumulate is not invested for economic growth. They use it to meet expenses for imports, extravagant activities and living a luxurious livelihood.
Capital accumulation also takes place in the market by outsider monopolists. Most of the consumer goods available in Manipur markets are imported through a network of Mayang commercial entrepreneurs who were in control of the Manipur economy.
Profit that went into their treasury is repatriated to their respective home state beyond Manipur. Therefore, cosmetic financial incentives or funds that is allocated for Manipur, in the absence of local production, remains under circulation in the market for few days and is siphoned off beyond Manipur through the unfavourable balance of exchange and monopolists.
The economy, therefore, is unfavourable to progressive growth. Gradual decline in the economy has corresponding impact on peasants and workers. Economic experience of Manipur since 1949 has been steady rise in the number of poor and marginalisation. This is a inherent syndrome of capitalism under Indian rule.
Conclusion
There is an organic relation between politics and economy. The material relation between India and Manipur may be understood in terms of the theoretical understanding of Alexander Buzuev that had argued for "Economic inequality of nations"[48].
Manipur plays a subjective role under India's capitalism. The forcibly annexation of 1949 was a threshold in placing both India and Manipur into an economic arrangement instituted and governed by the Indian ruling class.
It was a threshold to conditioning interrelated phenomenon: firstly, Indian ruling class creating a military base in Manipur for accumulation of super profit from Northeast region and Southeast Asian Countries; secondly, Manipur's loss of political autonomy and a corresponding loss of control over economy and a vice versa and; thirdly growing impoverishment of a large chunk of the population. The
Indian state's aggressive attitude towards imposing finance imperialism explains its failure to respond positively to public yearning for accountability, transparency, compensation, rehabilitation, equitable distribution of profits and a role in the decision making.
It becomes crucial factor in shaping the prevailing economic condition in Manipur. Manipur and oppressed peoples must collectively fight back for a progressive change.
Concluded.....
* Campaign for Peace & Democracy (Manipur) is an issue based information & analysis (published on 3rd July 2009) . They contributes to e-pao.net for the first time. They can be contacted at cpdmanipur(at)gmail(dot)com
This article was webcasted on July 15th, 2009.
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