Post by Bernado ColacoI would be only to glad to read your figures of indian
investment in Goa as opposed to the loot!
Colaco
What would you term as "loot"? The transfer of wealth and resources
happens at a private level like in any market or capitalist economy.
What exactly do you see as the drain of resources? Fish resources, iron
ore are the local produce exiting the state. But these are sold by private
individuals (in Goa) to private individuals outside. The industrial
sector, which depends on large external inputs of raw material and labour,
is not such a black-and-white case.
The Goa-is-earning-foreign-exchange-for-India argument might have made a
little sense in the days when foreign exchange was hard to come by. In a
world where the rupee was on the point of becoming convertible in the
global market, this is little other than an emotional plank.
Even in the past, Goa's foreign exchange was earned by Goa, it needs to be
noted that this was not earned by "Goa" as such, but by private
individuals (mineowners or whoever) who also saw their interest in
exchanging their overvalued dollars for rupees back home.
Your view of Indian "investment" in India is also probably indicative of a
lack of clear appreciation of the issues involved. In the Union Territory
days, Goa's administration was -- in theory at least -- overseen by New
Delhi. Hence the obligation to build some infrastructure here. But,
post-statehood, the Centrally-originating component in the Goa budget is
just a small fraction. What comes in by way of loans cannot be counted, as
this has to be repaid one day.
The only "loot" that one can talk of is what individual political satraps
or their party machinery extracts from their local lieutenants, as the
tributes to keep the latter in the seat of power.
But this is not the enormous problem made out to be above. While the
belief that "Delhi is squeezing Goa" might give us the (incorrect)
gratification of victim status, it's hardly as black-and-white as
made out to be. You'll need to get an economist's view on this, as even if
it is repeated a hundred times, unless it has some link with reality, it's
not going to convince many. FN