IT was a befitting observance of the golden jubilee of the All India Insurance Employees Association (AIIEA). The occasion was to reiterate employees commitment to contribute to the building of a humane and egalitarian society. It was the time to debunk the  theory that there is no alternative to imperialist-led globalisation.  To show that an alternative specific to India is clearly available and implementable. This alternative must be projected before the people and they must be mobilised in the struggle for its implementation. Such an alternative must benefit the country and the vast majority of its people.

It was with this understanding that the Insurance Corporation Employees Union (affiliated to AIIEA ), Bangalore Divisions I & II, requested eminent personalities in the country to place their views on the subject. They did this with absolute clarity in the seminar organised on July 1, 2001 at Bangalore on the subject "Economic Development - An Alternative Approach".

Sitaram Yechury, Polit Bureau member of CPI(M), speaking in the seminar started off congratulating the AIIEA for taking the lead in mobilising people in building an alternative path of economic development. He paid glowing tribute to the decade long struggle of the insurance employees against privatisation. This struggle forced the government to abandon its plans to privatise LIC and GIC though the insurance sector was opened up for private players. The retention of LIC and GIC  in the public sector is an achievement unparalleled in the present scenario of unbridled liberalisation.

Yechury traced the economic development in India since independence. He said that the Indian Big Business attempted to build capitalism without destroying feudalism. The compromise with feudal landlords was to secure a social base. This development has its limitations as it denies the economic advancement of the vast majority of people. The crisis of the Indian economy is due to the restriction of the internal market. This crisis was sought to be overcome through encouraging consumption of luxury goods by the elite and India landed into the trap set by the IMF and World Bank, in the process.

Today there is an unprecedented concentration of wealth and the multinational corporations control 80 per cent of the world's trade. Another feature is the internationalisation of  finance capital which is less productive and more speculative in nature. The Corporate India which amassed huge wealth benefiting from the infrastructure developed by the State, today is demanding  the handing over of these valuable public assets to them. The IMF-World Bank-WTO policies have impoverished the masses. The Indian economy is in crisis with stagnation gripping both industrial and agricultural sector.

Yechury said the ruling classes often argue that India cannot remain in isolation and it must integrate with the world economy. "But integration at what cost?" he questioned. He emphasised that this integration must be on terms which must be beneficial to the country and its vast majority of the people. He regretted that Indian ruling classes have surrendered to imperialism even before discussing  an alternative which definitely exists. The alternative is to expand the domestic market. This can be done through "land reforms" and "generation of employment". He cited the success of the land  reforms in West Bengal which has changed the face of the state. He strongly argued in favour of the government playing a bigger role on behalf of the poor. Such an alternative can emerge only through peoples movement. The numbers in the streets are in our favour but the numbers in parliament are not. This situation must change. He emphatically said an alternative is possible and congratulated the AIIEA for initiating a debate on this subject.

Dr Venkatesh Athreya, Professor and Head, Department of Economics, Bharathidasan University, Trichy, spoke of his long association with the AIIEA and complimented the organisation for  leading the campaign against the anti-people policies. Dr Athreya said "if the media controlled by the ruling classes is to be believed, India is a land of absolute happiness. But the ground realities are some thing different. The development, especially since 1990s, has been lopsided and has widened the gap between the poor and the rich. Today after 10 years of reforms we find that for three consecutive years, industrial growth has declined, agriculture growth has declined, and the services sector has come to stagnate. All this has resulted in impoverishment of the people".

Dr Athreya expressed serious concern over the food security. He said that food production in the recent times has fallen below the growth rate of the population. The government boasts that 50 million tonnes of foodgrains are in the godowns. But the grains are lying due to the inability of the people to purchase and eat. This is seen in many starvation deaths and a large number of people going to bed hungry. He  criticised the lavish concessions that are being given to the big business in the forms of tax concessions, tax holidays, etc, while cutting the  food subsidies given to the poor. He said, subsidies to the rich are conveniently termed incentives while the limited concessions to the poor are branded burdensome subsidies. This is the economic philosophy of the government. He pointed out that democracy is under attack and the WTO agenda severely attacks the national sovereignty. Citing the growing struggles across the world against these policies, he said that post-Seattle   confidence and opportunity for building a strong movement in our country against these policies has grown. Dr Athreya said that an alternative clearly exists and this alternative if implemented will better the  living conditions of the people. He advocated the re-distribution of productive land assets which today remain concentrated in the hands of only few. He argued in favour of strengthening small scale sector to generate more employment. He demanded an effective tax implementation machinery to recover Rs 52,000 crore of unpaid taxes. Along with this, the recovery of non-performing assets (NAP) in the public sector banks, amounting to over Rs 60,000 crore will make available resources for public investment for the growth of the economy. This is the only way to expand the domestic market. He expressed confidence that the people's desire for a better life and living will compel the reversal of these policies.

Dr B Sheshadri, former head of Developmental Studies Department, Kannada University, , speaking in the seminar said that the new liberal policies are economic Darwinism in real sense. It is the survival of the fittest and in reality  further enriching of the rich. During the last ten years, India has moved from State-led growth to `market-led growth'. The results are visible, with a few continuing to accumulate wealth in a spectacular manner while the vast majority of the people remained impoverished. Dr Sheshadri said that `market and democracy' cannot go together. He pointed out that the present policies of unbridled liberalisation, privatisation and globalisation are discriminatory to both gender and generation. He also mentioned how a small section of the people in the rich nations are consuming the overwhelming natural resources. The natural resources are not inexhaustible and if they continue to be exploited in the  present manner, it will be a great injustice to the future generations.  Sheshadri explained in great detail the regional imbalances within the state of Karnataka due to these economic policies. He, therefore, said that there is a need to look for an alternative path of economic development.

Dr Shesahdri pointed out that an alternative can b e developed on the basis of `decentralisation of powers', involvement of the people in the decision-making effective land  reforms, generation of employment and increasing the purchasing power of the people. Such an alternative cannot come about easily. It can be brought about through mobilisation of the people. Sheshadri said that the agents of such a change could only be the militant working class in association with the peasantry. He congratulated the AIIEA for initiating a debate on this subject.

R Govindarajan, Joint Secretary, AIIEA, coordinated the entire programme. He talked about the emerging struggle and developing unity of the working class. He pointed out that the insurance employees led by AIIEA have a great role to play in the emerging scenario.

Amanulla Khan, president, SCZIEF welcomed the gathering while N Nagaraj, general secretary, ICEU, Bangalore-II proposed the vote of thanks.

On this occasion, Sitaram Yechury, released  the book titled "Globalisation not a manna from heaven but an imperialist imposition", authored by N M Sundaram, genera l secretary, AIIEA.

The seminar was attended by 526 insurance employees   with women being a substantial section. 117 representatives from different trade unions and mass organisations representing peasants, students, youth and women also took part. A large number of scientists, economists , doctors and social activists also participated in the seminar. The huge participation clearly shows the peoples disenchantment with the economic policies of the government and their desire for an alternative. The seminar succeeded in spreading the message that an alternative exists

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