Restrictions on
people of Kashmir should be removed: Jamaat-e-Islami
Hind Prez Sadatullah Hussaini
Earlier JIH Vice President, Muhammad
Salim Engineer, while briefing the media said: “Jamaat would like to emphasizeits
long-standing position that the affairs of Jammu and Kashmir must be resolved
by talks, consultation and dialogue with the people of the state and their
representatives”. He also conveyed the concern at the slowdown of India’s
economy and pointed out the how we must move towards equity based financing
rather than interest based financing to tide our investment needs.
Expresses grave concern over the
continued slowdown of Indian economy, the Jamaat, in its press note, said, “the
government appears clueless about reviving the economy. It is wilting under
pressure from Corporate India by taking ad hoc measures hoping for some miracle
to boost the sagging GDP. The Rs 1.45 lakh crores bonanza offered to India Inc
in the form of corporate tax cuts will not help as it does not address the
problem of weak aggregate demand, low consumption and high unemployment.” The Jamaat
recommends that the government should stop worrying about a few percentage
points of fiscal deficit slippage and payout the near 10 lakh crores of balance
payment to vendors who have supplied goods and services to the state and central
government. The Jamaat said, “with low inflation and low GDP growth, fiscal
expansion and a stimulus package are the only ways to boost demand. However,
because of an interest-based banking system, we are slowly being crushed by the
rising interest payments for financing our deficits. Our banks riddled with
NPAs and NFBCs are facing an existential crisis. The equities, currency and
commodity markets with speculative financial instruments restrict the
circulation of wealth only between a few hands. There is an acute need to
increase the risk capital in the economy in the form of equity participation
and zero interest venture capital."
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