Left Menu
Development News Edition

Activists hit out at AIIB during the 3-day convention in Mumbai

The convention, held under the aegis of the Working Group on International Financial Institutions here was addressed by social activists Medha Patkar and Ulka Mahajan, economist Arun Kumar and journalist Sucheta Dalal.

PTI | Updated: 21-06-2018 22:39 IST | Created: 21-06-2018 22:39 IST

Activists hit out at AIIB during the 3-day convention in Mumbai, Jun 21 (PTI) Over 150 organizations from across the country today began a 3-day convention on infrastructure financing with a view to draw the government's attention in the run-up to the annual meeting of the Asian Infrastructure Investment Bank (AIIB).

The AIIB's annual meeting will be held in Mumbai on June 25-26. The convention, held under the aegis of the Working Group on International Financial Institutions here was addressed by social activists Medha Patkar and Ulka Mahajan, economist Arun Kumar and journalist Sucheta Dalal.

Hitting out at the AIIB, Patkar said, "Though AIIB aims to push infrastructure in Asia including India, they have nothing to do with improving the social and economic status of the poor people of the country,." She alleged that while Rs 9,800 crore would be invested in infrastructure in the fields of energy, roads and urban development, the common man was missing from their (AIIB) roadmap.

She said that such infrastructure development was taking care of the affluent while ignoring the marginalized. Mahajan said that the government's design of executing big-ticket projects was questionable and alleged that several laws pertaining to labor and environment were being twisted. She said that those who had gathered at the convention wanted to create a pressure group to force economic policy-makers to take note of their concerns.

Noted journalist Sucheta Dalal hit out at what she claimed was the faulty system of banks and asked the government to take steps to ensure common people are not fleeced. "Until and unless the Reserve Bank of India (RBI) and other banks do not become responsible to the common man, no scheme to empower them will work out," Dalal said. Headquartered in Beijing, the AIIB is a multilateral development bank of which India is the second largest shareholder.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)


TRENDING

OPINION / BLOG / INTERVIEW

Pride in the time of coronavirus: a welcome move online?

This year is different in many ways not least as celebrations are also taking place against the dramatic backdrop of a global health crisis and a resurgence in grassroots activism following the death of George Floyd in Minneapolis. ...

COVID-19: Weighing up the benefits and limitations of edtech platforms

Edtech companies shouldnt focus on merely pushing contents, but to provide an interactive, effective teaching and learning environment. ...

Shipping industry's COVID-19 resilience test could boost digitalization

The push towards digitalization in shipping industry was already happening and has been further accelerated by the pandemic as current practices are not tenable under present circumstances and would definitely not be in the future....

Health is pure science but why objectivity eludes WHO

We certainly need a global body to coordinate responses against health emergencies. However, this sheer need of humanity on this planet should not be milked by the World Organization WHO to overshadow constructive criticism and call for ref...

Videos

Latest News

Want to be compared to Pakistan players instead of Kohli: Babar Azam

Pakistans limited-overs skipper Babar Azam on Thursday said that he wants to be compared to players from his country rather than India skipper Virat Kohli. Over the last two years, the comparison between both Babar and Kohli have risen, loo...

Tesla to make molecule printers for COVID-19 vaccine developer CureVac

Tesla Inc is building mobile molecule printers to help make the potential COVID-19 vaccine being developed by CureVac in Germany, the electric-car makers CEO Elon Musk tweeted on Wednesday.CureVac, an unlisted German company, has said it is...

Gap in U.S. Black and white unemployment rates is widest in 5 years

The gap between the U.S. unemployment rates for Blacks and whites widened further in June, to its largest in five years, underscoring the uneven nature of the nascent recovery from the historic job losses triggered by the coronavirus pandem...

Delhi govt announces remote teaching-learning plan for all classes in its schools

The Delhi government on Thursday announced a remote teaching-learning plan for all classes to address the issues of digital divide and reduce academic loss of students in the wake of the closure of schools due to the COVID-19 pandemic. Whil...

Give Feedback