It seems that the government is not at all concerned about the country and people. On one side protest against corruption is on move and on the other side, the government is making policy changes in order to boost up the country's economy. I was quite shocked to get to know that the private corporates are allowed to enter into banking sector. This has no relavance in this current scenario. The entry of new corporates into the sector will leave the country in no roads. This means that the profit motivated corporates would never have focus on financial inclusion. The reason for this move is being given as that India still has more than 50% of her area uncovered by banks. Is this the only reason for allowing new private entrants? With already more than 50 banks(public, private, foreign), can't India achieve her goal? The ongoing affairs of the ruling UPA government is adding suspicion that "Is India moving towards 100% privatization?" The government wants to fund the budget by disinvesting its investment in the public sector. India should learn from western countries. Adding more private players into financial sector would naturally affect its objective of inclusive growth. This is being advised to the government by many to boost the existing banks to reach goal.
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