‘Sabka Saath – Sabka Vikas’ Keep your promise PM Modi


1459737_698963493458073_1811642637_n-703560By Syed Zahid Ahmad,MMN,

In an environment where we face threats (from terrorist organizations) to divide India in  the name of religion, some political parties are trying to polarize votes on the  basis of religious communities, it will suffice saying like “If anyone thinks Indian Muslims will dance to their tune, they are delusional. Indian Muslims will live for India. They will die for India; rather we need to ensure that Muslims are not missing in the progressive work led on the name of ‘Sabka Saath – Sabka Vikas’.


If the second largest religious community (with almost lowest poverty and illiteracy level) in India realize that  they are being deprived, there is need to ensure that they are not forgotten in the fray of economic growth with right to follow their religion.

Considerably 20.5% Muslim workers engaged into manufacturing units are crucial if India’s Prime Minister wants to succeed in ‘Make in India’ campaign. Similarly 16.8% Muslim workers engaged into wholesale and retail business play vital role in boosting domestic  as well as international trade.

Interest based lending contradicts with Islamic law (prohibiting interest based transactions). So ethical finance has been banned and unethical banking is open for Indian Muslims – forcing them to choose between religious ethos and sinful growth prospects. Muslims also failed to proportionately share the regulatory bodies in India. Muslim’s representation in the Reserve Bank of India is far below (0.75%) than their share (3 %) in candidates selected as Civil services officers.

Though after recognizing the need of inclusive growth, much has been done to ensure sector, region, caste and gender based inclusive growth; we have yet to observe any initiative to include religious minorities for inclusive growth of India.

The poor and illiterate Muslims can be soft target for terrorist organizations. These organizations can pervert their psychology by projecting them as a marginalized community in India forced to die under poverty or convert their religion for seeking growth under circumstances created by a Government following anti Islamic ideology.

We need to recall the remarks made by the Sachar Committee Report that “the access of other minorities to credit from banks and other programmes is far better than Muslims and they are at times the principal beneficiaries of some programmes wherever targeting has been done. In some programmes where Muslims have received an adequate share of credit, the total flow of funds has been low”,

Though there has been many reasons including poor illiteracy for the backwardness of Muslims in India, the unavailability of faith based finance has been major road block for resurgence of India’s second largest community. Indian Muslims kept loosing 28% of their Deposits at SCBs (amounting Rs. 1,16,841 crores) to avail as finance for meeting their livelihood needs.

The Government should move ahead with following minimum sought policy initiatives to clear the obstacles in the process of financial inclusion and inclusive growth in India.

1-The new Government is requested to implement following specific policy recommendations suggested by Sachar Committee (PMHLC) :-

A-We recommend a creation of a National Data Bank (NDB) where all relevant data for various SRCs are maintained. All the data should be eventually computerized and made available on the Internet.

B-An Equal Opportunity Commission (EOC) should be constituted by the government to look into the grievances of the deprived groups.

C-The Committee recommends that on the lines of initiatives taken by the Andhra Pradesh government, appropriate state level laws can be enacted to ensure minority representation in local bodies.

D-The Committee also recommends the elimination of the anomalies with respect to reserved constituencies under the delimitation schemes.

E-Given the commitment to provide primary education in the child’s mother tongue, the State is required to run Urdu medium schools.

F-The Committee, recommends promoting and enhancing access to Muslims in Priority Sector Advances.

G -Provide financial and other support to initiatives built around occupations where Muslims are concentrated and that have growth potential.


2-Will Dr. Rghuram Rajan take the following Recommendations made by him as head of the Committee for Financial Sector Reforms?

“… Certain faiths prohibit the use of financial instruments that pay interest. The non-availability of interest-free banking products … results in some Indians, including those in the economically disadvantaged strata of society, not being able to access banking products and services due to reasons of faith. This non-availability also denies India access to substantial sources of savings from other countries in the region.

…, the Committee recommends that measures be taken to permit the delivery of interest-free finance on a larger scale, including through the banking system. This is in consonance with the objectives of inclusion and growth through innovation. The Committee believes that it would be possible, through appropriate measures, to create a framework for such products without any adverse systemic risk impact.” 

3– Steps should be taken to induct Muslims in bodies farming regulatory frameworks, policies and acts related to commerce, finance and industries. Separate bodies may be constituted to propose development plans and schemes for Muslims economic development in line with overall national development. Visions like Equal Opportunity Commission have no meaning if Muslims not allowed joining Sabka Saath Sabka Vikas with right to follow their religious ethos and practices.

Hope that unlike the UPA Government, the Modi Sarkar would not sense any mysticism to implement above recommendations, but  do justice allowing Indian Muslims be part of Sabka Saath Sabka Vikas.


The can be contacted at Email:economicinitiatives@gmail.com


  1. I understand that muslims take pride in carrying their religion on their sleeves.. but at least don’t be a hypocrite .. I understand that development of our muslim brothers and sisters is a priority,, but ethical based financing???????? I mean we can’t follow middle east financing policies in India … When muslims want a secular India, then they should be the first people to disown any religion based initiative .. For ex I am the first person to disown BJP minister for claiming “Astrology is better than science” … Even hindus are against credit cards and taking loans.. but we can’t seclude our world just because someone in 2 nd BC said so ..

    • Dear Vaibhav you cannot understand the need of Faith based financed unless you adhere to Islamic ethics. Just try to understand practicing Muslims (not so called) who have to adhere with Islamic laws and need finance to improve livelihood. This need not religious tag. It can be done through promoting equity and lease finance at retail levels.

  2. Vaibhavji islam is Deen…it is final revelation for all human being.leave relegion for a while.y it is not possible to run our interest free banking.I TELL U ANSWER BECAUSE U DONT KNOW THAT RBI IS GOVERNED BY INTERST BASED BANKERS.A dangerous and vunerable diseases which have been warned by every scholars of every relegion.ECONOMY WILL DIE NEVER FLOURISH.AND IF ECNMY START DEPLEATION IT WILL CREATE A VACUM OF MANY OTHERS DIESAES.After more then 60 years of independence.u know what is loan on ur cuntry….ur generations hve to pay.ask ur father 1KG SUGAR in back days.now the same qnty what we get but the amount u have to pay more…..bielive india is very rich in resources.this cuntry no need tax payer.my self ihapply live on rs 50.but nw its impossible u know y……THE MISTAKE IS VERY SIMPLE ,,INTEREST BASED ECONOMY.,,,,


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