What is the link between ‘Wage
Revision’ and ‘NPA Reduction’?
By Sri Pannvalan
By Sri Pannvalan
There is a growing clamour that so
long as there is a high volume of NPAs in banks, bank staff cannot aspire to
get a decent wage revision. Even many
bank staff themselves have started believing this shallow and unfounded logic. I
wish to say one thing to all of them.
If it is insisted that the NPA
position must be brought down to 'Zero' or near zero level, bankers must demand
that the central government employees shall not
be paid any salaries at all (leave alone
hikes), until
and unless -
- The
central government brings down the current account deficit to 'Zero' (CAD
was at Rs.216,000 crores for 2013-14 as per the news item in NDTV Profit
on 21-05-2014.
See this link –
http://profit.ndtv.com/news/economy/article-indias-current-account-deficit-may-come-down-to-2-3-per-cent-of-gdp-in-fy15-citi-389022
- The
central government brings down the fiscal deficit to 'Zero'. (Fiscal
deficit was at Rs.519,529 Crores for 2013-14 as per the news item published
in various newspapers).
See this link –
http://zeenews.india.com/business/news/finance/indias-cad-expected-to-come-down-to-32-billion-chidambaram_98435.html.
- The
central government recovers the huge tax arrears due from big industrial
houses, large corporate groups, MNCs and high net worth individuals
(HNIs), in Income Tax, Service Tax, Customs Duty, Excise Duty, Property
Tax etc. in full (Income Tax arrears
alone stood at Rs.580,000 crores as at the end of March, 2014).
- So far, the
central government has passed on various concessions and exemptions from
duties and taxes to all major industrial groups in the country and
loss/sacrifice arising out of such concessions and exemptions is estimated
to be Rs.45 lakh crores during the last 10 years of UPA rule (2004-2014).
This is in addition to similar exemptions and concessions extended by
various state governments for which no dependable statistical data is
available.
- Finally, the central government recovers all the losses
incurred in Coalgate, 2G Spectrum, Commonwealth Games Scam, Adarsh Housing
Scam, Westland Helicopter deal and all other scandals involving
trillions of Indian Rupee.
See these:
http://en.wikipedia.org/wiki/List_of_scandals_in_India#2014).
http://www.thehindu.com/opinion/editorial/behind-the-sband-spectrum-scandal/article1200374.ece
Let us not unnecessarily make ourselves responsible and accountable for
big ticket NPAs, because such NPAs were not our creation. Let us not commit ourselves for recovery of a
major portion of outstanding NPAs, as a pre-condition for a decent wage
revision. I wish to reiterate here that any such action from our side will only
be suicidal and it will be a great disservice to the entire banking community. I
request everyone to shed this thought forthwith. Let us not fall into the trap laid by our
adversaries at this moment.
I very strongly condemn the
mischievous elements amongst us, with firm conviction and full force at my
command.
Date: 21-05-2014
pannvalan
Very correct thing.bankers are not beggars
ReplyDeleteVery well said.
ReplyDeletesuperb analysis...
ReplyDeleteThat is absolutely right. We r doing our duty with full energy. We cannot blame ourselves for this. Our social life is hit badly.
ReplyDelete