Workshop on Finance, Development and Democratic Politics
Date: July 20– 21, 2019
Venue: Pastoral Centre, Bhopal
Indian economy is said to be one of the fastest growing economies in the world with more than 7% growth being projected both by the government and International Financial Institutions (IFIs). The large projection of growth is associated by massive investments in infrastructure, energy, transportation etc. IFIs and other agencies have projected a large scale infrastructure gap in the region and in the country and called for policies which would promote private capital with an assumption that governments will not be able to finance such massive infrastructure needs. The State and National governments have embarked on massive schemes involving private entities through PPPs and borrowing from both national and international sources including non-concessional loans from the markets.
In the current times the economy faces challenges various fronts such as on the one hand it is facing financial crisis and on the other hand increasing trends of financialisation of the majority of the sectors of the economy. The financial crisis has further increased the exploitation of natural resources and labour for corporate profits. The crisis has led to increased push for deepening of economic reforms such as privatisation, liberalisation and corporatisation of various sectors of the economy.
Currently there is a spurt of investment activity across the country. These include various kinds of industrial corridors, railway corridors, networks of highways and roads (Bharat Mala) and ports (Sagarmala), Bullet train, Metro train projects in several cities, Smart Cities, Inland water ways etc to name a few.
While many of these projects are leading to destruction of natural resources, livelihoods and displacement of communities, there is little attention on who is driving this boom in infrastructure boom and financing these projects. Workshop on Politics of Development Finance is meant to discuss various aspects of Indian economy, financial institutions, how they influence policies and how they could be made accountable.
The workshop will also discuss contemporary issues which have arisen due the policies of the government which has a bearing on the financial situation and political economy of the country particularly impacting common people and marginalised groups. The workshop will discuss the crisis facing the banking sector straining the public sector banks thereby affecting financial inclusion and loot of public money among other things.
The workshop will cut across both National and International Finance Institutions and policies. It will discuss governance, roles, funding, safeguards, accountability and policies which will provide the participants and understanding of state of development finance in the country.
We are working on the proposed program schedule and other logistical details that will be shared shortly.
Organised by: Climate Justice Muhim, Bhopal, and Centre for Financial Accountability
Contact: 9406689369, 9991773205