New Delhi, September 13: In the backdrop of many developed nations throwing lifelines to financial institutions in fighting the financial crisis, a majority of Indians too are in support of government aid for failing banks and industries.
A global survey conducted for broadcasting major BBC World Service has found that as many as 64 percent Indians surveyed favour failing banks getting help from the government.
“The majority favours government assistance for failing banks (64 percent) and industries (61 percent),” the report said.
Rattled by one of the worst economic turmoils in decades, many developed nations especially the US and the UK unveiled unprecedented measures to rescue many financial entities from going bust.
Meanwhile, the survey of 22,158 citizens spread across 20 countries showed that 59 percent of Indians believe that the government should significantly increase its stimulus spending.
“Slightly fewer Indians (52 percent) believe the government should spend this money on clean energy technology,” it added.
The survey was carried out for BBC World Service by international polling firm GlobeScan along with the Program on International Policy Attitudes (PIPA) at the University of Maryland.
About 57 percent of the Indians surveyed are in favour of increased government regulation of the economy in addition to broader regulatory powers for international organisations.
Going by the report, as many as 47 percent of the Indian respondents approve the performance of their leaders while 45 percent feel that the benefits and burdens of economic development are being shared fairly.
“Pluralities are satisfied with the crisis response of the G-20 leaders (49 percent), executives of international companies (45 percent), bank executives (45 percent), the World Bank and IMF (44 percent), US leaders (37 percent), and EU leaders (35 percent),” the report noted.
GlobeScan co-ordinated fieldwork between June 19 and August 17, 2009.
Globally, an average of three in five respondents support the idea of substantially raising government spending to bolster the economies.
“An average of three in five (60 percent) citizens — and majorities in 13 of the 20 countries polled — support the increasing government spending to stimulate the economy,” the report said.
Nearly 67 percent people globally want to see increased government regulation and oversight of their national economies and the support was the highest in China at 94 percent.
In case of the US, only 46 percent of those surveyed are satisfied with the Federal government’s initiatives to boost its economy.
On the other hand, only 44 percent people worldwide are satisfied with their own government’s response while 36 percent expressed satisfaction with the actions of the World Bank and IMF.
–Agencies