'Indian economy still booming'

Thousands of farmers participate in Kisan Sangha rally in city

''The financial condition of India has been good over the past 2,500 years and it has all the qualities to lead the world,'' said journalist and social activist Sunil Pande.

Speaking at the national level meeting of representatives of Bharatiya Kisan Sangha at Dasara Exhibition grounds here on Friday, he said there were fears among economists that recession would affect India every time there was slowdown in the USA and European countries, but India has survived due to decentralised economy, agriculture, cottage and rural industries and enterprises. “If India does not bow to international and global treaties or agreements, it will continue to be stable for another 1,000 years,” he said.

He said Atal Behari Vajpayee had formed three committees to give a fillip to the lives of the farmers, but before he could implement the recommendations of the committees the BJP lost the elections.

“But still, the economy is going strong. The sun is setting on America and Europe while it is rising in India. So India was, is and will be a financial super power, he added.

“In 1820, India’s share in the global productive output was 19 per cent while it was one per cent for America and nine per cent for Europe. References in the British journals of those days point out that India was in a commanding position those days due to commendable production of food commodities,” Pande said.

“Immediately after his election as president of the USA, Barack Obama had to announce a special package to tide over the financial crisis in the country. The crisis was a result of free banking sector.

But, at the same time, there were no similar problems in India as there is a strict vigil over the sector by the Reserve Bank of India. We have been successful in conserving our environment, soil, land mass, forests and thus the ozone layer,” he explained. President of the sangha Anantharam Ramachandra Murakute, Karnataka regional president Ranganath Yalandur, Karnataka south region president I N Basavegowda, leaders Thylur Ramji, Raghava Reddy, Dayaram Thakar, Jeevan Dada, Vasudevegowda and Sumangalamma were present on the occasion.

Earlier, thousands of farmers from all parts of the country participated in a jatha to promote awareness about conservation of natural resources and healthy and organic practices in agriculture. Suttur seer Sri Shivaratri Deshikendra Swami inaugurated the jatha.