Both capital and labour are important for wealth creation: Vice President

RSTV Bureau
Vice President M Venkaiah Naidu (Twitter Photo)

Vice President M Venkaiah Naidu (Twitter Photo)

Vice President M Venkaiah Naidu said today that labourers and farmers contribute to the economy not only through their hard work, but they also create demand in the economy as consumers. Therefore, it is necessary to increase their purchasing power to give a further fillip to inclusive development.

Addressing the 100th Birth Anniversary function of Dattopanth Thengri, in New Delhi today, Vice President Naidu called for equal distribution of resources to create a stable and inclusive economy. The concentration of wealth in few hands leads to disbalance in economy and resentment in society, he said.

Highlighting that both capital and labour are important for wealth creation, the Vice President called for cooperation and harmony between the two. He also called for respecting every person who contributes to wealth creation, be it worker, manager or investor, as all of them have important roles in the production chain.

Citing Mahatma Gandhi’s concept of Trusteeship, Vice President Naidu said that wealth is not for individual luxury rather it is collectively owned by the community and should be used for the welfare of the public.

On global economic changes, the Vice President said that in tandem with the global economy, we too are changing our economy. New legislative architecture is being created for a transparent, sustainable, efficient, high growth inclusive economy. Noting that India has the third-largest pool of Start-ups, he said that new Start-up actors are emerging in our economy. He further said that we are witnessing constructive disruptions in the economy.

Calling Dattopant Thengadi as a great intellectual and Karmyogi, Vice President Naidu lauded that he built the most powerful nationalist trade union in the country. “It is remarkable that he never gave a call for a bandh and also never made the trade union indulge in violence”, he said.

Talking of the Fourth Industrial Revolution, the Vice President called upon the trade unions to prepare the workers and farmers for this new challenge. “Institutions like Bhartiya Mazdoor Sangh and Bhartiya Kisan Sangh should spread awareness about various Government programs and should train the workers and farmers in new technologies”, he said.

Calling Thengdi an inspirational person, Vice President Naidu said that for him, nationalism was about taking views of all sections and their interests. “He never believed in class hatred and class wars and rendered the very notion of the class itself as irrelevant”, he said.

Lauding various organisations created by Dattopanth Thengri such as – Akhil Bhartiya Grahak Panchayat, Bhartiya Adhivakta Sangh and Sanskar Bharti, the Vice President said that democracy should not merely remain limited to the casting of votes, rather people should be actively involved in national affairs. Such organizations help in giving constructive voice to people’s aspirations, he added.