The BSE and NSE indices are hitting new highs and the recent high spike was the occasion when Nitish became a turncoat. Let us be clear that the stock exchanges have the minds of their own, just like the markets have their own minds. Markets, and Stock Markets are one of the types of markets, are driven by human perceptions and human emotions, they cannot work otherwise.
With this small commentary on the nature of Markets, we can study who are the players driving India’s stock markets and why they get high every time, the RSS/BJP is consolidating its position and that BJP’s chances of winning next Union election increase.
Caste Divide in India
The Indian capital is cornered and dominated by the upper castes, various caste divide exist in the society.
Let us get it clear that if we calculate the Market capitalisation, the Brahmin-Bania-Other Upper Castes axis owns over 90 percent of India’s capital. While the SCs, STs, OBCs, and converted minorities own just less than 10 percent of India’s capital.
Every time, RSS/BJP consolidates power, the capital owned by the so called “Upper Castes” is secured.
Ideally, after 70 years of so-called independence, the markets should have reflected the social realities. The state policies should have taken certain measures to ensure that that the capital and other national resources were equally distributed to create economic equality as it is one of the goals of the Indian Constitution.
India’s lowered castes are perpetually locked in the “primary” sector of the economic activities, particularly agriculture, where the gains on the investment are not flexible enough to yield higher profits and hence the lowered castes are cycled into a vicious circle of poverty or lower incomes.
The tertiary sectors are completely dominated by the Upper Castes, thus making the sectors of economy reflection of the Varna System, caste divide.
The “fourth sector” of high-level consultations and networking is also increasingly dominated by the “religious” gurus, making Indian economy into a rigid caste system.
What happens in the stock exchange is simple: it is the place where the stocks are bought and sold and it operates on two market levels, primary and secondary.
The primary markets offer new stocks for sells and they deal with the IPOs and the secondary markets trade on the old stocks.
If the stock market is dominated by the Upper Castes, the lowered castes are mostly buyers of the securities and the minor players.
The RSS/BJP has been consolidating its base of the capitalists’ class of India, but as is become increasingly clear, the RSS/BJP is also consolidating its base with the influential Global Capitalists thus endangering the sovereignty of India.
The evil axis of the “Brahminism and capitalism” is becoming very strong day by day, and that is not just a threat to India’s lowered castes, but also to the national security.
Gautam Adani and Modi are trying to become the part and parcel of the Global capitalist forces is reflected by Adani’s ever presence with Modi in the international travels and the way Adani group is going after the Coal Mines in Australia will show how dangerous is the underbelly of the Adani Group.
In this bid, the State Bank of India is extending loans of 6000 crores to the Adani Group. This is using public money for private gains and the highest level of corruption.
Author – Mangesh Dahiwale, Human Rights Activist
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