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Capitalist Globalisation & India

OPPOSE AUCTION OF KARNATAKA

Demand people-friendly and environment-friendly development

The chief minister of Karnataka has announced that the two-day global investors meet in Bangalore will bring in Rs 3 lakh crore of investment as well as around 300,000 new jobs.

False Promise of Investment and Job Creation

As per government data the total FDI approved in Karnataka between 2000- 2010 is around 30,000 crores and the actual amount invested less than that. So how will 3 lakh crores be realised in 2 days, if the last 10 years brought in only 30,000 crores? Further , the 3 lakh crores were supposed to bring in 3 lakh jobs. Now if the actual amount will be much lesser, how many jobs actually get created? Also,here 1 job is being created for an investment of 1 crore (3 lakh crores = 3 lakh jobs) However, for the same 1 crore which is invested in the small and Medium Industries , 20 jobs can be created. read more