People are and should be Responsible for Everything

Stock Exchange: New Responsible Approach in Nation Building

In the present world, at least in India, stock market is becoming the only egalitarian symbol of society. Earlier, it was only for who have stake in companies through their stocks. Globalisation or economic opening up of 1990 brings them down to the common man. Still, it was quiet away from the reach of common people. But the 'new pension scheme' will definitely make it as a part of daily life of rich as well as poor.

Earlier, the stock exchange was connected with the companies and its performance in the market. If the company is not doing well, its stock value will come down and if it does well, definitely the stock will cost more. So, keeping the stock in better value was the responsibility of the company - (investors, executives and workers) and the company will try its best to increase production, reduce expenditure and earn more profit -and these processes kept the company to float in the top in stock market. Later, things changed, the company before it starts its production will go for a huge advertisement campaign about the colourful returns of the product and invites people to invest in their initiative. Still, those who are directly involved were sharing the responsibilities of profit and loss.

However, in the last 18 odd years, India has gone through a number of financial scams related to stock exchanges and banking. When banks are involved in the scams, it will certainly affect the people who invested in it. Still, the numbers of people who are closely connected with the stock market even through banks are quiet less. Once the new generation banks started operations, the link between stock market and common man become very close. Once those banks started their Insurance operations, the distance between common man and the stock market was further reduced. Still, a huge population, who have nothing to invest or insure, stayed outside and this segment included the rural poor, working class in small companies and business establishments, small scale merchants, daily wage labourers etc. So, the stock exchange was not egalitarian because majority of the people were standing outside of its reach. The opening up of post office savings, pension funds and PF money will definitely include the majority of people into the clutches of Stock Exchange.

Now, whatever investment goes from the pension funds or PF or Post Office savings to the stock market will make the common people responsible for the profit or loss. So, it is your responsibility to keep the stock market always in the higher end and never allow them to register loss. Then it will keep the interest of almost all people. What an egalitarian approach or the best approach for inclusive growth!!!!!