Private enterprise to thrive in Mumbai under AAP Ki Sarkar: Satish Jain

Mumbai has a throbbing business culture and a thriving business community. AAP will ensure that the environment is healthy and friendly

April 01, 2014 11:48 IST | India Infoline News Service
“Contrary to what is projected by certain political parties, Aam Aadmi Party’s (AAP) style of governance will help businesses and private enterprises thrive in Mumbai. We will encourage and help citizens to create wealth and improve their standards of living,” announced the former fund manager and current AAP candidate for Lok Sabha from North Mumbai, Satish Jain.
An alumnus of IIM Bangalore and an integral part of brand India, Satish Jain says AAP has always been in support of the hard working and honest business class. “We are only against crony capitalism. We are against those business houses that exploit the system and extract special favours from the Government. Such practices, anyways, are detrimental to sustainable growth and development,” he explains.
“An administration that is fair and honest will ensure that all business houses get equal opportunities and work under a level playing field. But what has happened till now is that successive Governments have been granting special privileges and licenses to a favoured few. These privileged few either get to extract national resources like gas, coal and iron ore at a fraction of the real value or get permission to operate as a monopoly. In either case, the nation loses revenue and end users pay a higher charge. Only crooked business houses and corrupt politicians benefit from such practices,” he adds.
Part of the core team that developed the manifesto and economic policy of AAP, Satish was also responsible for exposing the multi crore electricity scam in Maharashtra. “We are only against malpractices that business houses indulge in the name of capitalism. Crony capitalism not only makes India poor but also majority of the Indians poorer. Clean businesses, on the other hand, make the nation rich. Vendors who sell vada-pav; corner shops that sell grocery; consultants who advise their clients; artists who design visiting cards; CAs who write accounts; techies who develop websites, are all doing businesses, and contributing to the growth of the nation. We want all of them, big or small, to flourish,” he adds.
“AAP supports General Sales Tax (GST), however it is against Local Body Tax (LBT), APMCs and other multi-layered middlemen. We believe that if corruption is reduced and the ‘parallel economy’ integrated into the mainstream economy, growth would accelerate. Tax collections can go up even if tax rates are cut, reducing the fiscal deficit to less than 2% of GDP. Given India’s favorable demographics, the opportunity to create India into a economic powerhouse is immense if we can provide transparency, integrity and participative policies.”
“Mumbai has a throbbing business culture and a thriving business community. AAP will ensure that the environment is healthy and friendly. With the adoption of strong anti corruption practices that we will put in place, emerging entrepreneurs will not need to make multiple rounds for their ‘Goumusth’ or other registrations. Our policies will benefit all residents of Mumbai, be they rich or poor,” concludes Satish Jain.
Satish Jain’s entry into politics is preceded by an impressive track record in the financial sector. Rated by many surveys as one of the top fund managers in Asia, Satish’s career spanned eighteen years in the financial sector and included stints with Morgan Stanley and HDFC as Executive Director and Portfolio Manager. Allied with Arvind Kejriwal since the India Against Corruption (IAC) movement and inspired by the same, Satish Jain has quit his lucrative career to join full time politics. He is one of the 317 candidates fielded by AAP for the current Lok Sabha elections. Other candidates fielded by the party include, Mayank Gandhi from Mumbai North West, Medha Patkar from Mumbai North East, Meera Sanyal from Mumbai South, Phiroze Palkhiwala from Mumbai North Central and Sunder Balakrishnan from Mumbai South Central.

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