housing america’s future: new directions for national policy
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Dk`j`glk Y`clky Yr`brag
F`usljb K`gglssl`j
Ndhruary 891;
F`usljbAgdrlkas Nuturd?Jdw Mlrdktl`js n`r Jatl`jac Y`clky
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AKEJ@RCDMBDGDJ][
]fd Hlpartlsaj Y`clky Kdjtdr w`ucm cled t` dxprdss lts sljkdrd apprdklatl`j n`r tfd supp`rt ajm vlsl`j `n
tfd O`fj M. ajm Katfdrljd ]. GakArtfur N`ujmatl`j, wflkf gamd tfd F`usljb K`gglssl`j p`sslhcd.
ML[KCALGDX
]fls rdp`rt ls tfd pr`mukt `n tfd HYK F`usljb K`gglssl`j wltf partlklpajts `n mlvdrsd dxpdrtlsd ajm
anficlatl`js, ammrdssljb gajy k`gpcdx ajm k`jtdjtl`us t`plks. Lt ls ljdvltahcd tfat arrlvljb at a k`jsdjsus
m`kugdjt lj tfdsd klrkugstajkds djtalcdm k`gpr`glsds. Akk`rmljbcy, lt sf`ucm j`t hd assugdm tfat
dvdry gdghdr ls djtlrdcy satlsfidm wltf dvdry n`rgucatl`j lj tfls m`kugdjt, `r dvdj tfat acc partlklpajts
w`ucm abrdd wltf ajy blvdj rdk`ggdjmatl`j ln lt wdrd taedj lj ls`catl`j. Xatfdr, tfls br`up rdakfdm
k`jsdjsus `j tfdsd rdk`ggdjmatl`js as a pakeabd.
]fd fijmljbs ajm rdk`ggdjmatl`js dxprdssdm fdrdlj ard s`cdcy tf`sd `n tfd k`gglssl`j ajm m` j`t
jdkdssarlcy rdprdsdjt tfd vldws `r `pljl`js `n tfd Hlpartlsaj Y`clky Kdjtdr, lts n`ujmdrs, `r lts H`arm `n
Mlrdkt`rs.
[]ANN
Yagdca Fubfds Yatdjaumd
Mlrdkt`r
Jleel Xumjlke
Ass`klatd Mlrdkt`r
Xdhdkka [. K`fdj
[djl`r Y`clky Ajacyst
Brakd Kagpl`j
Y`clky Ajacyst
F`pd Xlkfarms`j
Yr`odkt Asslstajt
Drlk [. Hdcsey
Gajabljb Mlrdkt`r, O`ljt
Kdjtdr n`r F`usljb [tumlds
`n Farvarm Tjlvdrslty
Edjt R. K`ct`j
Yrdslmdjt, ]fd K`ct`j
F`usljb Br`up
Edvlj Lb`d
Yrljklpac, Lb`d/Ass`klatds
Odnnrdy Cuhdcc
Dxdkutlvd Mlrdkt`r, Kdjtdr
n`r F`usljb Y`clky
Mdjjls K. [fda
Yrljklpac, [fda Yuhclk
[tratdblds, CCK
HLYAX]L[AJY@CLK\ KDJ]DXCDAMDX[FLY
Oas`j Brugdt
N`ujmdr ajm Yrdslmdjt
Oucld Ajmdrs`j
[djl`r ^lkd Yrdslmdjt
B. Rlcclag F`abcajm
[djl`r ^lkd Yrdslmdjt
K@J[TC]AJ][
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F`usljb K`gglssl`j
GDGHDX[Karlj G. Hartf
K`-N`ujmdr ajm Yrdslmdjt,
CH Kapltac, Ljk.
Dm Hramy
Yrdslmdjt, Hramy F`gds
X`hdrt G. K`ukf
K`ujsdc, Hramcdy Arajt
H`uct Kuggljbs CCY
Acnrdm A. MdcclH`vl
Yrdslmdjt ajm KD@,
Ndmdrac F`gd C`aj
Haje `n Jdw \`re
Xdjd Cdwls Bc`vdr
Yrdslmdjt ajm KD@,
Atcajta F`usljb Autf`rlty
Caurld [. B``mgaj
[djl`r Gajabljb Mlrdkt`r,
Agfdrst [dkurltlds Br`up,
CY
Nraje Edatljb
Yrdslmdjt ajm KD@,
Agdrlkaj Hajedrs
Ass`klatl`j5
N`rgdr B`vdrj`r
`n @ecaf`ga
Hrukd A. G`rrls`j
Kfalrgaj, G`rrls`j Yuhclk
Annalrs Br`up5
N`rgdr T.[. Xdprdsdjtatlvd
nr`g K`jjdktlkut
Oajdt Gurbua
Yrdslmdjt ajm KD@, Jatl`jac
K`ujklc `n Ca Xaza
Jlk`cas Y. Xdtsljas
[djl`r Cdkturdr `n Husljdss
Amgljlstratl`j, Farvarm
Husljdss [kf``c
Jaj X`gaj
Yrdslmdjt ajm KD@,
Jatl`jac Acclajkd t` DjmF`gdcdssjdss
X`jacm A. X`sdjndcm
N`rgdr Kfalrgaj, Ndmdrac
F`usljb Nljajkd H`arm
X`hdrt G. X`zdj
Yrljklpac, Rasfljbt`j
K`ujklc Drjst & \`ujb
Xlkfarm A. [gltf
Kfalrgaj, KD@, ajm
Yrdslmdjt, Xdac`by F`cmljbs
K`rp`ratl`j
Garlcyj O`rmaj ]ayc`r
Mdaj `n tfd [kf``c `n
Mdslbj, Tjlvdrslty `nYdjjsycvajla
O. X`jacm ]drwlcclbdr
Kfalrgaj Dgdrltus,
]raggdcc Kr`w Xdslmdjtlac
Harry _lbas
Mlrdkt`r `n F`usljb Y`clky,
K`jsugdr Ndmdratl`j `n
Agdrlka
K@-KFALX[
Kfrlst`pfdr [. Elt H`jm
N`rgdr T.[. [djat`r5
N`rgdr B`vdrj`r `n
Glss`url
Fdjry Klsjdr`s
N`rgdr [dkrdtary,
T.[. Mdpartgdjt `n
F`usljb ajm Trhaj
Mdvdc`pgdjt
Gdc Gartljdz
N`rgdr T.[. [djat`r5
N`rgdr [dkrdtary,
T.[. Mdpartgdjt `n
F`usljb ajm Trhaj
Mdvdc`pgdjt
Bd`rbd O. Gltkfdcc
N`rgdr T.[. [djatd
Gao`rlty Cdamdr5
K`-N`ujmdr, Hlpartlsaj
Y`clky Kdjtdr
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Dk`j`glk Y`clky Yr`bragF`usljb K`gglssl`j
[datdm C-X? N`rgdr T.[. Xdprdsdjtatlvd Xlke Cazl` (X-J\), N`rgdr T.[. [djat`r Gdc Gartljdz (X-NC), N`rgdr FTM [dkrdtary Fdjry Klsjdr`s, N`rgdr T.[. [djat`r Kfrlst`pfdr [.
Elt H`jm (X-G@), N`rgdr T.[. [djat`r Bd`rbd O. Gltkfdcc (M-GD) at tfd caujkf `n tfd HYK F`usljb K`gglssl`j, @kt`hdr 8>, 8911.
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Cdttdr nr`g tfd K`-Kfalrs
BD@XBD O. GL]KFDCCKFXL[]@YFDX [. EL] H@JM FDJX\ KL[JDX@[ GDC GAX]LJD_
Rd n`rgdm tfd F`usljb K`gglssl`j t` fdcp sdt a jdw mlrdktl`j n`r ndmdrac f`usljb p`clky. G`rd
tfaj fivd ydars antdr tfd k`ccapsd `n tfd f`usljb garedt, lt ls j`w acc t`` appardjt tfat kurrdjt p`clky,
ajm tfd ljstltutl`js tfat supp`rt lt, ard `utmatdm ajm ljamdquatd.
]fls rdp`rt, tfd kucgljatl`j `n a 1>-g`jtf dxagljatl`j `n s`gd `n tfd edy lssuds lj f`usljb,
pr`vlmds a hcudprljt n`r aj djtlrdcy jdw systdg `n f`usljb fijajkd n`r h`tf tfd `wjdrsflp ajm
rdjtac garedts. Tjmdr tfls jdw systdg, tfd prlvatd sdkt`r wlcc pcay a nar brdatdr r`cd lj hdarljbkrdmlt rlse ajm pr`vlmljb g`rtbabd nujmljb, ajm taxpaydr pr`tdktl`j wlcc hd a kdjtrac b`ac. Rd
acs` pr`p`sd a jdw, `utk`gd-`rldjtdm appr`akf t` tfd mlstrlhutl`j `n ndmdrac rdjtac suhslmlds tfat
rdsp`jms t` tfd f`usljb jddms `n `ur jatl`js g`st vucjdrahcd f`usdf`cms ajm rdwarms pr`vlmdrs
wf` mdg`jstratd str`jb rdsucts at tfd statd ajm c`kac cdvdcs wltf ljkrdasdm dxlhlclty lj pr`brag
amgljlstratl`j. ]fd rdp`rt flbfclbfts f`w `ur jatl`js hurbd`jljb sdjl`r p`pucatl`j ajm mragatlk
mdg`brapflk kfajbds wlcc prdsdjt jdw kfaccdjbds ajm `pp`rtujltlds n`r f`usljb pr`vlmdrs lj
k`ggujltlds tfr`ubf`ut tfd k`ujtry.
@vdr tfd ydars, Xdpuhclkajs ajm Mdg`krats favd w`redm t`bdtfdr t` dstahclsf p`clklds t` ammrdss
tfd mlvdrsd f`usljb jddms `n tfd Agdrlkaj pd`pcd. Antdr R`rcm Rar LL, n`r dxagpcd, Xdpuhclkaj
[djat`r X`hdrt ]ant w`redm wltf Yrdslmdjt ]rugaj t` rdgdmy a jatl`jac f`usljb sf`rtabd ajm
rdsp`jm t` tfd f`usljb jddms `n Agdrlkas rdturjljb vdtdrajs wltf tfd F`usljb Akt `n 1
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Dk`j`glk Y`clky Yr`bragF`usljb K`gglssl`j
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]ahcd `n K`jtdjts
Dxdkutlvd [uggary ajm Xdk`ggdjmatl`js . . . . . . . . . . . . . . . . 2
Kfaptdr 1. Ljtr`muktl`j? @ur Jatl`js F`usljb . . . . . . . . . . . . . . 14
Kfaptdr 8. ]fd K`jtljuljb acud n F`gd`wjdrsflp . . . . . . . . . 82
Kfaptdr ;. Xdn rgljb @ur Jatl`js F`usljb Nljajkd [ystdg . . . ;6
Kfaptdr =. Ann`rmahcd Xdjtac F`usljb . . . . . . . . . . . . . . . . . . . . 61
Kfaptdr 4. ]fd Lgp`rtajkd n Xurac F`usljb . . . . . . . . . . . . . . 19. Abljb lj Ycakd? A Jdw Nr`jtldr lj F`usljb . . . . . . . 11;
Kfaptdr 2. K`jkcumljb ]f`ubfts? A Kacc t` Aktl`j . . . . . . . . . . 181
Appdjmlx? K`gglssl j [trukturd ajm Yr`kdss . . . . . . . . . . . . 18;
Djmj`tds . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
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Dk`j`glk Y`clky Yr`bragF`usljb K`gglssl`j
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Dxdkutlvd [uggary ajm Xdk`ggdjmatl`js
A rdsp`jslhcd, sustaljahcd appr`akf t` f`gd`wjdrsflp
tfat wlcc fdcp djsurd tfat acc krdmltw`rtfy f`usdf`cms favd
akkdss t` f`gd`wjdrsflp ajm lts k`jslmdrahcd hdjdfits.
A rdn`rgdm systdg n f`usljb jajkd lj wflkf tfd
prlvatd sdkt`r pcays a nar g`rd pr`gljdjt r`cd lj hdarljb
krdmlt rlse wflcd pr`g`tljb a brdatdr mlvdrslty `n nujmljbs`urkds n`r g`rtbabd fijajkljb.
A g`rd tarbdtdm appr`akf t` pr`vlmljb rdjtac asslstajkd
tfat mlrdkts skarkd rds`urkds t` tfd c`wdst-ljk`gd rdjtdrs
wflcd ljslstljb `j a flbf cdvdc `n pdrn`rgajkd hy f`usljb
pr`vlmdrs.
A g`rd k`gprdfdjslvd n`kus `j gddtljb tfd f`usljb
jddms `n `ur jatl`js sdjl`rs tfat rdsp`jms t` tfdlr
mdslrd t` abd lj pcakd ajm rdk`bjlzds tfd lgp`rtajkd `n
ljtdbratljb f`usljb wltf fdactf kard ajm `tfdr sdrvlkds.
Lj prdparljb tfd rdk`ggdjmatl`js tfat n`cc`w, aj`vdrarkfljb b`ac `n tfd k`gglssl`j was t` djsurd tfat tfd
jatl`js f`usljb systdg djahcds ljmlvlmuacs ajm naglclds t`
dxdrklsd kf`lkd lj tfdlr clvljb sltuatl`js, as tfdlr jddms ajm
prdndrdjkds kfajbd `vdr tlgd. Rflcd t`mays kfaccdjbds ard
brdat, tfd `pp`rtujlty t` krdatd a jdw systdg tfat dxpajms
tfd rajbd `n f`usljb `ptl`js n`r ljmlvlmuacs ajm naglclds ls
dvdj brdatdr.
@ur jatl`js jugdr`us ajm urbdjt f`usljb kfaccdjbds
ujmdrsk`rd tfd jddm n`r a rdvldw `n ndmdrac f`usljb p`clky.
[ljkd tfd k`ccapsd `n tfd f`usljb garedt lj 8992, tfd ndmdrac
b`vdrjgdjt fas stdppdm lj t` supp`rt tfd vast gao`rlty `n
acc g`rtbabd fijajkljb, h`tf n`r f`gd`wjdrsflp ajm rdjtac
f`usljb. At tfd sagd tlgd, rdjtac mdgajm ls ljkrdasljb lj
gajy rdbl`js tfr`ubf`ut tfd Tjltdm [tatds, ajm tfd jughdr`n rdjtdrs spdjmljb g`rd tfaj tfdy kaj ann`rm `j f`usljb
ls ujakkdptahcy flbf ajm br`wljb. ]fdsd mdvdc`pgdjts ard
taeljb pcakd abaljst a hakemr`p `n pr`n`ujm mdg`brapflk
kfajbds tfat ard trajsn`rgljb tfd k`ujtry ajm `ur f`usljb
jddms. ]fdsd kfajbds ljkcumd tfd abljb `n tfd Hahy
H``gdrs, tfd n`rgatl`j `n jdw f`usdf`cms hy gdghdrs `n
tfd Dkf` H``g bdjdratl`j (tf`sd h`rj hdtwddj 1
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Dxdkutlvd [uggary ajm Xdk`ggdjmatl`js
fijajkd systdg gust pr`vlmd `pdj akkdss t` cdjmdrs `n acc
typds ajm slzds, ljkcumljb k`ggujlty hajes ajm krdmlt
ujl`js. Lt gust acs` sdrvd as wlmd a garedt as p`sslhcd ajm
assurd k`jsugdrs nalr akkdss t` sustaljahcd ajm ann`rmahcd
g`rtbabd krdmlt.
Rflcd prlvatd kapltac gust pcay a brdatdr r`cd lj tfdf`usljb fijajkd systdg, k`jtljudm b`vdrjgdjt ljv`cvdgdjt
ls dssdjtlac t` djsurljb tfat g`rtbabds rdgalj avalcahcd
ajm ann`rmahcd t` quaclfidm f`gdhuydrs.]fd k`gglssl`j
rdk`ggdjms tfd dstahclsfgdjt `n a clgltdm, katastr`pflk
b`vdrjgdjt buarajtdd t` djsurd tlgdcy paygdjt `n prljklpac
ajm ljtdrdst `j quaclfidm g`rtbabd-hakedm sdkurltlds (GH[).
]fls buarajtdd sf`ucm (1) hd dxpclklt ajm nuccy palm n`r
tfr`ubf prdglug k`ccdktl`js tfat dxkddm dxpdktdm kcalgs
(wltf a sand rdsdrvd kusfl`j)5 (8) hd trlbbdrdm `jcy antdr
prlvatd kapltac lj tfd prdm`gljajt c`ss p`sltl`j fas hddj
nuccy dxfaustdm5 ajm (;) appcy `jcy t` tfd sdkurltlds ajm j`tt` tfd dqulty `r mdht `n tfd djtltlds tfat lssud `r ljsurd tfdg.
As part `n tfls rdhacajkljb, tfd k`gglssl`j pr`p`sds tfd
wljmljb m`wj ajm uctlgatd dclgljatl`j `n Najjld Gad ajm
Nrdmmld Gak antdr a guctlydar trajsltl`j pdrl`m. ]fd husljdss
g`mdc `n tfdsd b`vdrjgdjt-sp`js`rdm djtdrprlsds (B[Ds)
puhclkcy tramdm k`gpajlds wltf lgpcldmb`vdrjgdjt
buarajtdds ajm `tfdr amvajtabdsfas nalcdm ajm sf`ucm
j`t hd rdpdatdm. Murljb tfd trajsltl`j pdrl`m, tfd Ndmdrac
F`usljb Nljajkd Abdjky sf`ucm k`jtljud lts dnn`rts t`
rdmukd tfd slzd `n tfd B[D p`rtn`cl`s ajm g`vd tfd B[D
prlkljb strukturd kc`sdr t` wfat `jd glbft fijm ln prlvatdkapltac wdrd at rlse. K`jbrdss sf`ucm acs` bramuaccy c`wdr
tfd B[D c`aj clglts t` acc`w carbdr c`ajs t` `w t` tfd prlvatd
sdkt`r.
]fr`ubf tfd bramuac rdmuktl`j lj c`aj clglts t` prd-krlsls
cdvdcs, tfd k`gglssl`j acs` supp`rts a g`rd tarbdtdm NFA
tfat rdturjs t` lts tramltl`jac glssl`j `n prlgarlcy sdrvljb first-
tlgd f`gdhuydrs.
Xdn`rgljb @ur Jatl`js F`usljbNljajkd [ystdg
A sukkdssnuc f`usljb fijajkd systdg sf`ucm gaxlglzd tfd
rajbd `n `wjdrsflp ajm rdjtac f`usljb kf`lkds avalcahcd at
acc stabds `n `ur clvds. Gddtljb `ur jatl`js mlvdrsd f`usljb
jddms rdqulrds a str`jb ajm stahcd systdg `n f`usljbfijajkd. ]fls systdg, wfdj nujktl`jljb at lts nucc p`tdjtlac,
`nndrs glccl`js `n Agdrlkajs ajm tfdlr naglclds tfd `pp`rtujlty
t` kf``sd tfd typd `n f`usljb tfat hdst rdsp`jms t` tfdlr
ljmlvlmuac sltuatl`js. ]fd g`rtbabd h``g ajm hust fas
r`kedm tfd systdg `j wflkf tfd Tjltdm [tatds fas rdcldm
n`r g`rd tfaj 24 ydars ajm fas n`rkdm a rddvacuatl`j `n
tfd b`vdrjgdjts r`cd lj supp`rtljb g`rtbabd krdmlt ajm
f`w tfls r`cd sf`ucm hd strukturdm. Yrlvatd, rlse-hdarljb
kapltac lj tfd g`rtbabd garedt fas sfruje mragatlkaccy,
wflcd tfd trdgdjm`us ujkdrtaljty surr`ujmljb tfd nuturd `n
`ur f`usljb fijajkd systdg fas brdatcy clgltdm k`jsugdrskf`lkds, partlkucarcy n`r krdmltw`rtfy h`rr`wdrs sddeljb t`
`htalj a g`rtbabd. Lj rdsp`jsd t` tfls rdkdjt ujravdcljb ajm
suhsdqudjt ujkdrtaljty, tfd k`gglssl`j pr`p`sds a hcudprljt
n`r a jdw systdg `n f`usljb fijajkd tfat wlcc supp`rt
f`gd`wjdrsflp ajm pr`vlmd n`r a vlhrajt rdjtac f`usljb
garedt.
Edy Y`clky @hodktlvds
]fd prlvatd sdkt`r gust pcay a nar brdatdr r`cd lj hdarljb
krdmlt rlse.Brdatdr ndmdrac ljtdrvdjtl`j was jdkdssary
wfdj tfd garedt k`ccapsdm, hut tfd m`gljajt p`sltl`j
kurrdjtcy fdcm hy tfd b`vdrjgdjt ls ujsustaljahcd. ]`may,
tfd b`vdrjgdjt supp`rts g`rd tfaj 4 pdrkdjt `n tfd
rdjtac g`rtbabd garedt. Xdmukljb tfd b`vdrjgdjt n``tprljt
ajm djk`urabljb brdatdr partlklpatl`j hy rlse-hdarljb
prlvatd kapltac wlcc pr`tdkt taxpaydrs wflcd pr`vlmljb n`r a
brdatdr mlvdrslty `n nujmljb s`urkds. A murahcd f`usljb
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rdsp`jslhcd n`r dstahclsfljb aj ann`rmahlclty tfrdsf`cm tfat
w`ucm prlgarlcy supp`rt tfd mdvdc`pgdjt `n rdjtac f`usljb
tfat ls ann`rmahcd t` c`w- ajm g`mdratd-ljk`gd f`usdf`cms.
@hstakcds t` tfd F`usljb Garedt Xdk`vdry
]fd k`gglssl`j fas lmdjtlfidm a jughdr `n rdbucat`ry
`hstakcds tfat ard rdstrlktljb g`rtbabd krdmlt ajm ljflhltljb
tfd f`usljb garedts rdk`vdry. ]fdsd `hstakcds ljkcumd`vdrcy strlkt g`rtbabd cdjmljb stajmarms5 tfd cake `n
akkdss t` g`rtbabd krdmlt n`r wdcc-quaclfidm sdcn-dgpc`ydm
ljmlvlmuacs5 ujkdrtaljty ah`ut tfd dxtdjt `n put-hake
rlse n`r g`rtbabd cdjmdrs5 tfd mdgajm n`r guctlpcd
appralsacs ajm tfd usd `n mlstrdssdm pr`pdrtlds as garedt
k`gps5 tfd appclkatl`j `n NFA k`gpard ratl`s5 ajm tfd
ujkdrtaljty rdcatdm t` pdjmljb g`rtbabd rdbucatl`js ajm tfd
lgpcdgdjtatl`j `n jdw rucds.
]` `vdrk`gd tfdsd `hstakcds, tfd k`gglssl`j rdk`ggdjms
tfat tfd Yrdslmdjt `n tfd Tjltdm [tatds mlrdkt tfd Mdpartgdjt
`n tfd ]rdasury, lj k``rmljatl`j wltf tfd varl`us ndmdrac
hajeljb abdjklds, t` assdss tfd lgpakt `n kurrdjt ajm pdjmljb
rdbucat`ry rdqulrdgdjts `j tfd ann`rmahlclty ajm akkdsslhlclty
`n g`rtbabd krdmlt. ]fd ]rdasury Mdpartgdjt sf`ucm mdvdc`p
a pcaj t` aclbj tfdsd rdqulrdgdjts as gukf as p`sslhcd t`
fdcp bdt g`rtbabd krdmlt `wljb abalj. A t`p `nfiklac wltflj
tfd ]rdasury Mdpartgdjt `r lj tfd Rfltd F`usd sf`ucm hd
tasedm wltf may-t`-may rdsp`jslhlclty n`r k``rmljatljb tfd
lgpcdgdjtatl`j `n tfls pcaj.
F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
]fd [trukturd `n tfd Jdw [ystdg
]fd k`gglssl`j pr`p`sds t` rdpcakd tfd B[Ds wltf aj
ljmdpdjmdjt, wf`ccy `wjdm b`vdrjgdjt k`rp`ratl`j
tfd Yuhclk Buarajt`rtfat w`ucm pr`vlmd a clgltdm
katastr`pflk b`vdrjgdjt buarajtdd n`r h`tf tfd sljbcd-naglcy
ajm rdjtac garedts.Tjcled tfd B[Ds, tfd Yuhclk Buarajt`r
w`ucm j`t huy `r sdcc g`rtbabds `r lssud GH[. Lt w`ucm
slgpcy buarajtdd ljvdst`rs tfd tlgdcy paygdjt `n prljklpac
ajm ljtdrdst `j tfdsd sdkurltlds. ]fd g`mdc djm`rsdm hy
tfd k`gglssl`j ls slglcar t` Bljjld Gad, tfd b`vdrjgdjt
abdjky tfat wraps sdkurltlds hakedm hy ndmdraccy ljsurdm `r
buarajtddm c`ajs. @tfdr tfaj tfd Yuhclk Buarajt`r, acc `tfdr
akt`rs lj tfls jdw systdg`rlbljat`rs, lssudrs `n sdkurltlds,
krdmlt djfajkdrs, ajm g`rtbabd sdrvlkdrssf`ucm hd
prlvatd-sdkt`r djtltlds nuccy at rlse n`r tfdlr `wj fijajkds
ajm j`t k`vdrdm hy dltfdr lgpclklt `r dxpclklt b`vdrjgdjt
buarajtdds hdjdfittljb tfdlr ljvdst`rs `r krdmlt`rs.
Lj tfd jdw systdg, tfd clgltdm katastr`pflk buarajtdd `n tfd
Yuhclk Buarajt`r w`ucm `jcy hd trlbbdrdm antdr acc prlvatd
kapltac afdam `n lt fas hddj dxfaustdm. ]fd b`vdrjgdjt
w`ucm hd lj tfd n`urtf-c`ss p`sltl`j hdfljm (1) h`rr`wdrs
ajm tfdlr f`gd dqulty5 (8) prlvatd krdmlt djfajkdrs5 ajm (;)
tfd k`rp`ratd rds`urkds `n tfd lssudrs ajm sdrvlkdrs.
]fd Yuhclk Buarajt`r wlcc favd slbjlfikajt stajmarm-
sdttljb ajm k`ujtdrparty vdrslbft rdsp`jslhlcltlds.]fdsd
rdsp`jslhlcltlds ljkcumd (1) quaclnyljb ljstltutl`js t` sdrvd
as lssudrs, sdrvlkdrs, ajm prlvatd krdmlt djfajkdrs5 (8)
djsurljb tfat tfdsd ljstltutl`js ard wdcc-kapltaclzdm5
(;) dstahclsfljb tfd buarajtdd ndds t` k`vdr p`tdjtlac
katastr`pflk c`ssds5 (=) djsurljb tfd aktuarlac s`ujmjdss
`n tw` sdparatd katastr`pflk rlse nujms n`r tfd sljbcd-
naglcy ajm rdjtac sdbgdjts `n tfd garedt5 ajm (4) sdttljb
stajmarms (ljkcumljb c`aj clglts) n`r tfd g`rtbabds hakeljb
b`vdrjgdjt-buarajtddm sdkurltlds. Rltf rdspdkt t` rdjtac
fijajkd, tfd Yuhclk Buarajt`r w`ucm acs` favd tfd autf`rlty
t` ujmdrwrltd guctlnaglcy c`ajs mlrdktcy ajm w`ucm hd
Gddtljb `ur jatl`js mlvdrsd f`usljbjddms rdqulrds a str`jb ajm stahcdsystdg n f`usljb jajkd.
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Dxdkutlvd [uggary ajm Xdk`ggdjmatl`js
k`ujsdcljb sdrvlkds hd dxpdktdm t` k`jtrlhutd t` tfd k`st `n
tfd sdrvlkd.
Ann`rmahcd Xdjtac F`usljb
]fd jatl`js =1 glccl`j rdjtdr f`usdf`cms akk`ujt n`r ;4
pdrkdjt `n tfd T.[. p`pucatl`j. Lj tfd k`gljb mdkamd, tfdjughdr `n rdjtdrs ls cledcy t` br`w slbjlfikajtcy as gdghdrs
`n tfd Dkf` H``g bdjdratl`j n`rg tfdlr `wj f`usdf`cms n`r
tfd first tlgd ajm as gdghdrs `n tfd Hahy H``g bdjdratl`j
m`wjslzd nr`g tfdlr kurrdjt f`gds. Br`wljb prdssurd n`r
rdjtac f`usljb gay pusf rdjts nurtfdr `ut `n rdakf n`r tfd
c`w-ljk`gd f`usdf`cms tfat ard cdast ahcd t` ann`rm lt. @ur
jatl`js f`usljb systdg sf`ucm alg t` gljlglzd tfd tramd-
`nns tfdsd f`usdf`cms `ntdj nakd wfdj sddeljb ann`rmahcd
f`usljblj tdrgs `n jdlbfh`rf``m quaclty, akkdss t` b``m
o`hs ajm flbf-pdrn`rgljb skf``cs, ajm spdjmljb `j `tfdr
dssdjtlacs cled fdactf kard ajm jutrltl`us n``m.
Ndmdrac Asslstajkd Naccs Nar [f`rt `n Rfats Jddmdm
Jatl`jaccy, a gao`rlty n dxtrdgdcy c`w-ljk`gd rdjtdr
f`usdf`cms spdjm g`rd tfaj facn `n tfdlr ljk`gds `j
f`usljb.N`r tfd g`st part, rdjtdrs clvd lj f`usljb tfat
gddts haslk quaclty stajmarms. F`wdvdr, jdarcy facn `n
rdjtdrs at acc ljk`gd cdvdcs rdp`rt payljb g`rd tfaj ;9
pdrkdjt `n tfdlr ljk`gd n`r rdjttfd ndmdrac stajmarm n`r
f`usljb ann`rmahlclty. Ag`jb dxtrdgdcy c`w-ljk`gd rdjtdrs
(tf`sd wltf ljk`gds at `r hdc`w ;9 pdrkdjt `n arda gdmlaj
ljk`gd), tfd sltuatl`j ls nar w`rsd. Jdarcy 69 pdrkdjt `n
tfdsd c`wdst-ljk`gd f`usdf`cms rdp`rt spdjmljb g`rd tfaj
;9 pdrkdjt `n tfdlr ljk`gd n`r rdjt, ajm jdarcy tw`-tflrms
spdjm 49 pdrkdjt `r g`rd.
]fdrd ard nar g`rd dxtrdgdcy c`w-ljk`gd rdjtdrs tfaj
avalcahcd ujlts tfdy kaj ann`rm.
Ndmdrac f`usljb asslstajkd gddts `jcy a nraktl`j `n tfd jddm.
Ndmdrac asslstajkd pr`brags kurrdjtcy fdcp appr`xlgatdcy
fivd glccl`j c`w-ljk`gd f`usdf`cms ann`rm f`usljb.
]fd K`jtljuljb ^acud `nF`gd`wjdrsflp
F`gd`wjdrsflp wlcc k`jtljud t` hd tfd prdndrrdm f`usljb
kf`lkd `n a gao`rlty `n f`usdf`cms.Akk`rmljb t` rdsdarkf
pdrn`rgdm n`r tfd k`gglssl`j, tfd jatl`jac f`gd`wjdrsflp
ratd ls cledcy t` rdgalj ah`vd >9 pdrkdjt n`r tfdn`rdsddahcd nuturd. Glccl`js `n Agdrlkajs k`jtljud t` sdd
f`gd`wjdrsflp as a krltlkac k`rjdrst`jd `n tfd Agdrlkaj
Mrdag wltf hdjdfits wdcc hdy`jm tfd fijajklac ljvdstgdjt.
]fls sdjtlgdjt ls dspdklaccy str`jb wltflj tfd br`wljb
Flspajlk k`ggujlty.
Mdspltd tfd k`ccapsd `n tfd f`usljb garedt, tfd k`gglssl`j
str`jbcy hdcldvds tfat, wfdj rdsp`jslhcy ujmdrtaedj,
f`gd`wjdrsflp kaj pr`mukd p`wdrnuc dk`j`glk, s`klac,
ajm klvlk hdjdfits tfat sdrvd tfd ljmlvlmuac f`gd`wjdr,
tfd carbdr k`ggujlty, ajm tfd jatl`j.A k`ghljatl`j
`n pr`pdr rdbucatl`j, amdquatd clqulmlty, ajm tfd rlbft
ljkdjtlvds lj tfd prlvatd garedt kaj fdcp djsurd tfat
f`gd`wjdrsflp rdgaljs a vltac f`usljb ajm wdactf-hulcmljb
`ptl`j. Rfdj k`upcdm wltf rdas`jahcd m`wj paygdjts,
s`clmcy ujmdrwrlttdj, fixdm-ratd g`rtbabdsas wdcc as
stralbftn`rwarm amoustahcd-ratd g`rtbabds wltf kcdar tdrgs
ajm clglts `j amoustgdjts ajm gaxlgug paygdjtskaj
acs` `pdj tfd m``r t` f`gd`wjdrsflp ajm lts hdjdfits n`r
ljmlvlmuacs wltf g`mdst wdactf ajm ljk`gds.
F`usljb k`ujsdcljb kaj lgpr`vd pr`spdktlvd h`rr`wdrs
akkdss t` ann`rmahcd, prumdjt g`rtbabd c`ajs, dspdklaccyn`r naglclds wf` `tfdrwlsd glbft j`t quaclny `r wf` gay
dxpdrldjkd `tfdr harrldrs t` k`jvdjtl`jac cdjmljb.N`ur
edy dcdgdjts ard jdkdssary? (1) a str`jb k`ujsdcljb
ljnrastrukturd5 (8) kcdar stajmarms5 (;) aj ujmdrstajmljb
`n tfd pr`pdr r`cd n`r k`ujsdc`rs5 ajm (=) tfd am`ptl`j `n
hdst praktlkds n`r ljtdbratljb k`ujsdcljb ljt` tfd g`rtbabd
garedt. ]fd k`gglssl`j supp`rts k`jtljudm ndmdrac
appr`prlatl`js n`r f`usljb k`ujsdcljb ajm rdk`ggdjms
tfat acc staedf`cmdrs wf` hdjdfit nr`g a h`rr`wdrs akkdss t`
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
]fd k`gglssl`j rdk`ggdjms ndmdrac nujmljb t` gljlglzd
fargnuc f`usljb ljstahlclty hy pr`vlmljb sf`rt-tdrg dgdrbdjky
asslstajkd n`r c`w-ljk`gd rdjtdrs (tf`sd wltf ljk`gds
hdtwddj ;9 ajm 69 pdrkdjt `n arda gdmlaj ljk`gd) wf`
sunndr tdgp`rary sdthakes. ]fls asslstajkd, mdclvdrdm as a
rdstrlktdm suppcdgdjt t` tfd F@GD Ljvdstgdjt Yartjdrsflps
pr`brag, k`ucm hd usdm t` fdcp k`vdr paygdjt `n sdkurltymdp`slts, hake rdjt, ajm `tfdr f`usljb-rdcatdm k`sts t`
lgpr`vd rdslmdjtlac stahlclty ajm prdvdjt f`gdcdssjdss.
]fdsd rdk`ggdjmatl`js, ln nuccy lgpcdgdjtdm, w`ucm fdcp
t` gddt tfd jddms `n aj ammltl`jac fivd glccl`j vucjdrahcd
rdjtdr f`usdf`cms ajm k`jtrlhutd t` tfd dclgljatl`j `n
f`gdcdssjdsstfr`ubf pr`muktl`j, prdsdrvatl`j, ajm rdjtac
asslstajkd.
]fd k`gglssl`j rdk`ggdjms a jdw pdrn`rgajkd-hasdm
systdg n`r mdclvdrljb ndmdrac rdjtac asslstajkd tfat
n`kusds `j `utk`gds n`r partlklpatljb f`usdf`cms, wflcd
`nndrljb flbf-pdrn`rgljb pr`vlmdrs brdatdr dxlhlclty t`
mdpart nr`g pr`brag rucds. ]fd k`gglssl`j pr`p`sds
a jdw pdrn`rgajkd-hasdm systdg tfat wlcc dvacuatd
f`usljb pr`vlmdrs sukkdss lj fivd edy pr`braggatlk
ardas? (1) lgpr`vljb f`usljb quaclty5 (8) ljkrdasljb tfd
dnfikldjky wltf wflkf f`usljb asslstajkd ls mdclvdrdm5 (;)
djahcljb tfd dcmdrcy ajm pdrs`js wltf mlsahlcltlds t` cdam
ljmdpdjmdjt clvds5 (=) pr`g`tljb dk`j`glk sdcn-sunfikldjky
n`r f`usdf`cms kapahcd `n w`re5 ajm (4) pr`g`tljb tfd
md-k`jkdjtratl`j `n p`vdrty ajm akkdss t` jdlbfh`rf``ms
`n `pp`rtujlty. Yr`vlmdrs tfat akfldvd a flbf cdvdc `npdrn`rgajkd akr`ss tfdsd fivd ardas sf`ucm hd rdwarmdm
wltf ljkrdasdm dxlhlclty t` mdpart nr`g stajmarm pr`brag
rucds, wflcd suhstajmarm pr`vlmdrs sf`ucm hd rdpcakdm.
]fd ndmdrac b`vdrjgdjt spdjms tdjs `n hlccl`js `n m`ccars
ajjuaccy t` supp`rt tfd jatl`js vacuahcd ljnrastrukturd
`n puhclkcy ajm prlvatdcy `wjdm rdjtac f`usljb. Jdltfdr
cajmc`rms j`r pr`brag `pdrat`rs wf` nalc t` pr`vlmd tdjajts
wltf f`gds ajm sdrvlkds `n rdas`jahcd quaclty sf`ucm
hdjdfit nr`g tfls ljvdstgdjt.
F`wdvdr, `jcy ah`ut `jd lj n`ur rdjtdr f`usdf`cms dclblhcd
n`r asslstajkd aktuaccy rdkdlvds lt. Hdkausd mdgajm s` nar
`utstrlps suppcy, tfdsd skarkd rdjtac suhslmlds ard `ntdj
acc`katdm tfr`ubf cdjbtfy waltljb clsts ajm hy c`ttdrlds.
Xdsp`jmljb t` tfd Krlsls
]fd k`gglssl`j rdk`ggdjms tfat `ur jatl`j trajsltl`j t`
a systdg lj wflkf `ur g`st vucjdrahcd f`usdf`cms, tf`sd
wltf dxtrdgdcy c`w ljk`gds (at `r hdc`w ;9 pdrkdjt `n ardagdmlaj ljk`gd) ard assurdm akkdss t` f`usljb asslstajkd
ln tfdy jddm lt.Asslstajkd sf`ucm hd mdclvdrdm tfr`ubf a
rdn`rgdm F`usljb Kf`lkd ^`ukfdr pr`brag tfat, `vdr tlgd,
clglts dclblhlclty t` `jcy tfd g`st vucjdrahcd naglclds.
]fd k`gglssl`j rdk`ggdjms ljkrdasljb tfd suppcy `n
sultahcd, ann`rmahcd, ajm mdkdjt f`gds t` fdcp gddt h`tf
kurrdjt ajm pr`odktdm mdgajm.]` akfldvd tfls b`ac, tfd
k`gglssl`j rdk`ggdjms?
Dxpajsl`j `n tfd C`w Ljk`gd F`usljb ]ax Krdmlt (CLF]K)
hy 49 pdrkdjt `vdr kurrdjt nujmljb cdvdcs ajm tfdpr`vlsl`j `n ammltl`jac ndmdrac nujmljb t` fdcp kc`sd tfd
bap tfat `ntdj dxlsts hdtwddj tfd k`sts `n pr`mukljb `r
prdsdrvljb CLF]K pr`pdrtlds ajm tfd dqulty ajm mdht tfat
kaj hd ralsdm t` supp`rt tfdg.
Ammltl`jac ndmdrac nujmljb hdy`jm kurrdjt cdvdcs t`
ammrdss tfd kapltac hakec`b ajm `jb`ljb akkruac jddms lj
puhclk f`usljb t` prdsdrvd tfd vacud `n prl`r ljvdstgdjts
ajm lgpr`vd f`usljb quaclty n`r rdslmdjts.
Br`wljb prdssurd n`r rdjtac f`usljbgay pusf rdjts nurtfdr `ut `n rdakfn`r tfd c`w-ljk`gd f`usdf`cms tfat
ard cdast ahcd t` ann`rm lt.
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Dxdkutlvd [uggary ajm Xdk`ggdjmatl`js
]fd Lgp`rtajkd `n Xurac F`usljb
]fd T.[. Mdpartgdjt `n Abrlkucturd (T[MA) hdars prlgary
rdsp`jslhlclty n`r amgljlstdrljb f`usljb asslstajkd lj tfd
jatl`js rurac ardas tfat, ujmdr tfd kurrdjt mdfijltl`j usdm
hy T[MA, ard f`gd t` `jd-tflrm `n tfd T.[. p`pucatl`j.
@vdracc, rurac ardas tdjm t` favd flbfdr p`vdrty ratds ajmc`wdr ljk`gds, s` actf`ubf f`usljb k`sts ard `ntdj c`wdr
tfaj lj `tfdr parts `n tfd k`ujtry, a suhstajtlac p`rtl`j `n
rurac f`usdf`cms spdjm aj ujsustaljahcd sfard `n ljk`gd
`j rdjt `r g`rtbabd paygdjts. T[MA `nndrs h`tf rdjtac
f`usljb ajm f`gd`wjdrsflp pr`brags t` djahcd c`wdr-
ljk`gd rdslmdjts `n rurac ardas t` ann`rm flbf-quaclty f`gds.
]fd k`gglssl`j supp`rts kurrdjt appr`akfds t` tfd
amgljlstratl`j `n f`usljb supp`rt lj rurac ardas.G`rd
spdklfikaccy, tfd k`gglssl`j rdk`ggdjms tfat f`usljb
asslstajkd lj rurac ardas k`jtljud t` hd mdclvdrdm tfr`ubf
T[MA ajm tfd stajmarms kurrdjtcy usdm t` mdfijd rurac
ardas galjtaljdm tfr`ubf tfd ydar 8989.
]fd k`gglssl`j acs` rdk`ggdjms djfajkljb tfd kapaklty
`n T[MA pr`vlmdrs t` sdrvd g`rd f`usdf`cms.G`mdst
ljkrdgdjtac nujmljb n`r tfd [dktl`j 498 Mlrdkt C`aj
pr`brag, lj partlkucar, w`ucm djahcd T[MA t` pr`vlmd
f`gd`wjdrsflp asslstajkd t` g`rd c`w-ljk`gd rurac
f`usdf`cms at rdcatlvdcy c`w k`st. Lj clbft `n rdkdjt dcdvatdm
mdcljqudjky ratds, f`wdvdr, tfd k`gglssl`j hdcldvds
tfat ajy ammltl`jac ndmdrac supp`rt n`r tfd [dktl`j 498
Mlrdkt C`aj pr`brag sf`ucm hd k`jmltl`jdm `j a tf`r`ubfpr`brag dvacuatl`j. T[MA pr`vlmdrs sf`ucm acs` hd
pr`vlmdm wltf rds`urkds t` lgpr`vd tfd mdclvdry `n tdkfjlkac
asslstajkd ajm tfd tdkfj`c`by usdm t` pr`kdss c`ajs, k`ccdkt
mata, ajm g`jlt`r pr`brag pdrn`rgajkd.
Nujmljb tfd [`cutl`js
Lj clbft `n t`mays mlnfikuct fiskac djvlr`jgdjt, tfd k`gglssl`j
rdk`bjlzds tfat a trajsltl`j pdrl`m wlcc hd jdkdssary hdn`rd
tfdsd rdk`ggdjmatl`js kaj hd nuccy lgpcdgdjtdm. ]fd
k`gglssl`j tfdrdn`rd rdk`ggdjms tfat lts appr`akf
n`r gddtljb tfd jddms `n tfd jatl`js g`st vucjdrahcd
f`usdf`cms hd pfasdm lj `vdr tlgd.
]fd k`gglssl`j supp`rts tfd k`jtljuatl`j `n tax ljkdjtlvds
n`r f`gd`wjdrsflp, hut as part `n tfd `jb`ljb mdhatd
`vdr tax rdn`rg ajm humbdt prl`rltlds, tfd k`gglssl`j
acs` rdk`ggdjms k`jslmdratl`j `n g`mlfikatl`js t` tfdsd
ljkdjtlvds t` acc`w n`r ljkrdasdm supp`rt n`r ann`rmahcd rdjtac
f`usljb.]fd k`gglssl`j ls award `n tfd mlnfikuct lssuds tfat
wlcc jddm t` hd ammrdssdm lj tfd k`gljb ydars t` hacajkd
ndmdrac humbdt prl`rltlds. ]fd ndmdrac b`vdrjgdjt kurrdjtcy
pr`vlmds suhstajtlac rds`urkds lj supp`rt `n f`usljb,
tfd gao`rlty `n wflkf ls lj tfd n`rg `n tax suhslmlds n`rf`gd`wjdrsflp. ]fd k`gglssl`j supp`rts tfd k`jtljuatl`j
`n tax ljkdjtlvds n`r f`gd`wjdrsflprdk`bjlzljb tfd
lgp`rtajkd `n tfls tax p`clky t` f`gd`wjdrs lj tfd Tjltdm
[tatds t`may. ]fd k`gglssl`j j`tds tfat varl`us tax
hdjdfits pr`vlmdm t` f`gd`wjdrs, ljkcumljb tfd g`rtbabd
ljtdrdst mdmuktl`j, favd hddj g`mlfidm `vdr tfd ydars. Lj
tfd `jb`ljb mdhatd `vdr tax rdn`rg ajm humbdt prl`rltlds,
acc rdvdjud `ptl`js gust hd dvacuatdm. Lj tfat k`jtdxt,
tfd k`gglssl`j rdk`ggdjms k`jslmdratl`j `n nurtfdr
g`mlfikatl`js t` ndmdrac tax ljkdjtlvds n`r f`gd`wjdrsflp
t` acc`w n`r aj ljkrdasd lj tfd cdvdc `n supp`rt pr`vlmdm t`ann`rmahcd rdjtac f`usljb. Ajy kfajbds sf`ucm hd gamd
wltf kardnuc attdjtl`j t` tfdlr dnndkts `j f`gd prlkds ajm
sf`ucm hd pfasdm lj t` gljlglzd ajy p`tdjtlac mlsruptl`j
t` tfd f`usljb garedt. A p`rtl`j `n ajy rdvdjud bdjdratdm
nr`g kfajbds lj tax suhslmlds n`r f`gd`wjdrsflp sf`ucm hd
mdv`tdm t` dxpajmljb supp`rt n`r rdjtac f`usljb pr`brags
n`r c`w-ljk`gd p`pucatl`js lj jddm `n ann`rmahcd f`usljb.
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
]fd k`gglssl`j supp`rts hdttdr ljtdbratl`j `n abljb-lj-pcakd
prl`rltlds ljt` dxlstljb ndmdrac pr`brags ajm urbds a g`rd
k``rmljatdm ndmdrac appr`akf t` gddtljb tfd f`usljb jddms
`n tfd br`wljb sdjl`r p`pucatl`j. ]fd sk`pd `n tfd T.[.
Mdpartgdjt `n Djdrbys Rdatfdrlzatl`j Asslstajkd Yr`brag
sf`ucm hd dxpajmdm t` ljkcumd f`gd assdssgdjts ajm
g`mlfikatl`js n`r abljb lj pcakd. Lj ammltl`j, stdps sf`ucm
hd taedj t` pr`vlmd dnndktlvd bulmajkd t` djsurd k`jsugdrs
ujmdrstajm tfd gdkfajlks `n rdvdrsd g`rtbabds, ljkcumljb
tfd rlses ajm hdjdfits `n tfdsd pr`mukts. A Rfltd F`usd
k`jndrdjkd k`ucm hrljb t`bdtfdr t`p ndmdrac `nfiklacs ajm edy
pcaydrs lj tfd prlvatd ajm puhclk sdkt`rs t` mraw jatl`jac
attdjtl`j t` tfd lssud `n sdjl`r f`usljb ajm t` katacyzd
mdvdc`pgdjt `n a k``rmljatdm appr`akf t` abljb lj pcakd.
Abljb lj Ycakd? A Jdw Nr`jtldr ljF`usljb
]fd abljb `n tfd p`pucatl`j wlcc jdkdssltatd gao`r kfajbds
lj tfd way wd `pdratd as a jatl`j, ljkcumljb lj tfd f`usljb
sdkt`r.Rflcd tfd jughdr `n Agdrlkajs abdm >4 ajm
`cmdr ls dxpdktdm t` g`rd tfaj m`uhcd hdtwddj 8919
ajm 89=9, wd ard stlcc carbdcy ujprdpardm t` gddt tfd
jddms `n tfd `vdrwfdcgljb jughdrs `n sdjl`rs wf` wlsf
t` abd lj pcakd lj tfdlr `wj f`gds ajm k`ggujltlds.
Ljmustry br`ups favd hdbuj t` dmukatd tfdlr gdghdrs
ah`ut ways t` lgpr`vd tfd sandty `n dxlstljb f`gds tfr`ubf
rdcatlvdcy slgpcd g`mlfikatl`js, ajm tfd lgp`rtajkd `n
appcyljb ujlvdrsac mdslbj prljklpcds lj tfd k`jstruktl`j
`n jdw f`gds. [tatds ajm c`kacltlds favd acs` rlsdj t`
tfd kfaccdjbd, tarbdtljb pr`brags t` mdclvdr fdactf kard
ajm `tfdr supp`rtlvd sdrvlkds t` tfd jaturaccy `kkurrljb
rdtlrdgdjt k`ggujltlds wfdrd `cmdr rdslmdjts ard abljb ljpcakd.
]fd k`gglssl`j rdk`ggdjms hdttdr k``rmljatl`j `n ndmdrac
pr`brags tfat mdclvdr f`usljb ajm fdactf kard sdrvlkds
t` sdjl`rs. ]fd T.[. Mdpartgdjt `n F`usljb ajm Trhaj
Mdvdc`pgdjt (FTM) ajm tfd Mdpartgdjt `n Fdactf ajm
Fugaj [drvlkds (FF[) sf`ucm o`ljtcy lmdjtlny ajm rdg`vd
harrldrs t` tfd krdatlvd usd `n rdslmdjtlac pcatn`rgs n`r
gddtljb tfd fdactf ajm c`jb-tdrg kard jddms `n sdjl`rs.
Lj dvacuatljb tfd k`sts `n f`usljb pr`brags tfat sdrvd
nralc sdjl`rs, K`jbrdss ajm tfd @nfikd `n Gajabdgdjt ajm
Humbdt sf`ucm lmdjtlny ajm taed ljt` akk`ujt savljbs t` tfd
fdactf kard systdg gamd p`sslhcd hy tfd usd `n f`usljb
pcatn`rgs wltf supp`rtlvd sdrvlkds.
Rd ard stlcc carbdcy ujprdpardm t`gddt tfd jddms `n tfd `vdrwfdcgljbjughdrs `n sdjl`rs wf` wlsf t` abd
lj pcakd lj tfdlr `wj f`gds ajmk`ggujltlds.
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Dk`j`glk Y`clky Yr`bragF`usljb K`gglssl`j
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f`gds lj gajy k`ggujltlds. A vdry flbf pdrkdjtabd `n
rdjtdrs t`may, prlgarlcy tf`sd wltf g`mdst ljk`gds hut acs`
ljkrdasljbcy g`rd dk`j`glkaccy sdkurd f`usdf`cms, ard
n`rkdm t` spdjm carbd sfards `n tfdlr ljk`gd `j rdjt.
F`usljb ls acs` a krltlkac mrlvdr `n tfd T.[. dk`j`gy. N`r
bdjdratl`js, `ur jatl`j fas c``edm t` f`usljb as a s`urkd `ndk`j`glk vltaclty ajm br`wtf. [tatlstlks cled sacds `n jdw ajm
dxlstljb f`gds ajm guctlnaglcy starts favd hdk`gd edy
ljmlkat`rs `n jatl`jac dk`j`glk pdrn`rgajkd. Rfdj tfdsd
ljmlkat`rs ard trdjmljb upwarm, lt bdjdraccy gdajs tfd T.[.
dk`j`gy ls `j tfd garkf5 wfdj tfdy ard trdjmljb m`wjwarm,
tfd dk`j`gy ls `ntdj lj tr`uhcd. Rfat ls kcdar ls tfat a stahcd,
vlhrajt f`usljb garedt mlrdktcy trajscatds ljt` g`rd o`hs,
flbfdr naglcy ljk`gds ajm f`usdf`cm wdactf, ajm a str`jbdr,
g`rd pr`spdr`us jatl`j. Lt ls dquaccy kcdar tfat a str`jb
dk`j`gy wltf r`hust dgpc`ygdjt ajm ljk`gd br`wtf ls tfd
surdst way t` supp`rt str`jb f`usljb garedts tfr`ubf`ut tfd
k`ujtry. Rfdj tfdsd dcdgdjts cab ajm naglclds kajj`t eddp
pakd wltf tfd rlsljb k`sts `n a f`gd, acc parts `n tfd f`usljb
sdkt`r sunndr, wltf lgpakts rdvdrhdratljb tfr`ubf`ut tfd
dk`j`gy.
]fd ujprdkdmdjtdm k`ccapsd `n tfd f`usljb garedt tfat
hdbaj lj 8992 fas ujmdrgljdm `ur k`jfimdjkd lj tfd
systdg hulct `vdr tfd cast 24 ydars. Lj tfd waed `n rdbucat`ry
ajm garedt nalcurds tfat djahcdm tfd br`wtf `n ujsand ajm
ujstahcd g`rtbabd pr`mukts ajm aj ujsustaljahcd ljkrdasd
lj f`usd prlkds, tfat systdg ls lj mlsarray. ]fd lgpakt `n tfd
k`ccapsd ls stlcc hdljb ndct t`may, as glccl`js `n naglclds favdc`st tfdlr f`gds, trlccl`js `n m`ccars lj f`usdf`cm wdactf favd
vajlsfdm, ajm sk`rds `n k`ggujltlds rdgalj mdklgatdm hy
n`rdkc`surds. ]fd ndmdrac b`vdrjgdjts k`jsdrvat`rsflp `n
Najjld Gad ajm Nrdmmld Gaktfd ljstltutl`js dstahclsfdm
hy K`jbrdss t` djsurd a stahcd suppcy `n g`rtbabd fijajkljb
tfr`ubf tfd sacd `n g`rtbabd-hakedm sdkurltldsfas k`st tfd
taxpaydrs tdjs `n hlccl`js `n m`ccars t` matd.1Ajm g`rtbabd
krdmlt k`jtljuds t` dcumd glccl`js `n krdmltw`rtfy h`rr`wdrs as
vdry tlbft krdmlt praktlkds favd hdk`gd tfd j`rg.
@ur f`gds ard wfdrd clnd ag`jb naglcy ajm nrldjms ls
kdjtdrdm ajm jurturdm. ]fdy ard tfd hakeh`jds `n `ur
k`ggujltldswfdrd `ur kflcmrdj prdpard t` b` t` skf``c,
wfdrd wd n`rg attakfgdjts wltf `ur jdlbfh`rs, ajm wfdrd
wd partlklpatd lj klvlk clnd. @ur f`gds ard tfd vdry pcatn`rgs
nr`g wflkf `ur clvds mdvdc`p. Ljkrdasljbcy, wd favd k`gd t`
ujmdrstajm tfat `ur f`gds ajm tfd k`ggujltlds lj wflkftfdy ard c`katdm ard acs` lgp`rtajt mdtdrgljajts `n spdklfik
`utk`gds? darcy kflcmf``m mdvdc`pgdjt ajm fdactf5 akkdss
t` quaclty dmukatl`jac `pp`rtujltlds5 ajm `ur ahlclty t` rdakf
stahcd, b``m-payljb o`hs. As tfd p`pucatl`j abds ajm as
wd stay c`jbdr lj `ur f`gds, wfdrd wd clvd wlcc ljkrdasljbcy
anndkt f`w krltlkac gdmlkac ajm s`klac sdrvlkds ard mdclvdrdm
ajm wlcc sfapd tfd quaclty `n sdjl`rs clvds.
@wjljb a f`gd fas hddj a str`jb asplratl`j sljkd at
cdast tfd glm89tf kdjtury, wfdj tfd p`stwar dk`j`glk
dxpajsl`j, jdw b`vdrjgdjt supp`rt n`r vdtdrajs ajm w`reljb
naglclds, tfd k`jstruktl`j `n jdw flbfways, ajm suhurhaj
mdvdc`pgdjt krdatdm `pp`rtujltlds n`r naglclds t` huy a f`gd
at aj ann`rmahcd g`jtfcy k`st. @vdr tfd jdxt 49 ydars, gajy
naglclds j`t `jcy djo`ydm tfd sdkurlty tfat f`gd`wjdrsflp
`nndrdm, tfdy acs` akkugucatdm wdactf tfr`ubf tfd pay m`wj
`n g`rtbabd prljklpac ajm c`jb-tdrg f`gd prlkd apprdklatl`j.
Agdrlkas f`gds fijajkdm glccl`js `n k`ccdbd dmukatl`js,
rdtlrdgdjts, ajm gdmlkac ajm `tfdr jdkdssltlds. ]fd mlvlmd
hdtwddj tf`sd naglclds wltf slbjlfikajt jdt wdactf ajm tf`sd
wltf`ut was garedm g`st kcdarcy hy wfdtfdr `r j`t a naglcy
`wjdm a f`gd `n lts `wj. Tjn`rtujatdcy, j`t acc Agdrlkajs
sfardm lj tfls pr`spdrlty, as f`gd`wjdrsflp ratds n`r glj`rltynaglclds favd k`jslstdjtcy cabbdm hdfljm tf`sd `n wfltd
f`usdf`cms.
Murljb tfd sagd pdrl`m, jatl`jac p`clky n`kusdm `j
dclgljatljb scugs ajm hclbft ajm k`jstruktljb lj tfdlr pcakd
jdw, ann`rmahcd rdjtac f`gds. @vdr tlgd, `ur sukkdss at
rdg`vljb hclbft ajm scugs `utpakdm `ur ahlclty t` rdpcakd
tfd c`st f`usljb, ajm garedt n`rkds tfat mr`vd up tfd k`st
`n rdjtac f`usljb akkdcdratdm tfd c`ss `n ann`rmahcd rdjtac
Kfaptdr 1.Ljtr`muktl`j? @ur Jatl`js F`usljb
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Kfaptdr 1. Ljtr`muktl`j? @ur Jatl`js F`usljb
Xdk`bjlzljb tfd jddm n`r aktl`j ajm a jdw vlsl`j t`
bulmd ndmdrac f`usljb p`clky, HYK caujkfdm tfd F`usljb
K`gglssl`j lj @kt`hdr 8911 t` dxagljd tfd gajy
kfaccdjbds lj f`usljb t`may ajm t` amvajkd a k`fdrdjt
jatl`jac stratdby lj rdsp`jsd. As a rdsuct `n tfls dnn`rt, wd
ard g`rd k`jvljkdm tfaj dvdr tfat f`usljb gust assugd
a g`rd pr`gljdjt pcakd `j tfd jatl`jac p`clky abdjma. Ajatl`j tfat kaj `nndr a hr`am rajbd `n ann`rmahcd f`usljb
`ptl`js t` lts kltlzdjs wlcc hd str`jbdr ajm hdttdr p`lsdm t`
k`gpdtd `j tfd bc`hac dk`j`glk stabd. A stahcd f`usljb
fijajkd systdg wlcc supp`rt f`usljb k`jsugptl`j ajm
ljvdstgdjt, wflkf lj turj wlcc hd a vltac s`urkd `n jdw
o`hs, dk`j`glk aktlvlty, ajm tax rdvdjud n`r acc cdvdcs `n
b`vdrjgdjt. Lj sf`rt, rdst`rljb `ur jatl`js f`usljb sdkt`r
ls a jdkdssary prdk`jmltl`j n`r Agdrlkas nucc dk`j`glk
rdk`vdry ajm nuturd br`wtf.
At tfd sagd tlgd, tfd mdg`brapflks `n tfd Tjltdm [tatds
ard kfajbljb lj trajsn`rgatlvd ways. As a s`kldty, wd
ard hdk`gljb `cmdr, g`rd cledcy t` mdcay garrlabd ajm
kflcmhdarljb, ajm g`rd raklaccy ajm dtfjlkaccy mlvdrsd.
Gdghdrs `n tfd Dkf` H``g bdjdratl`j (tf`sd >8 glccl`j
Agdrlkajs h`rj hdtwddj 1
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
Abaljst tfls hakemr`p `n p`pucatl`j br`wtf, tfrdd lgp`rtajt
mdg`brapflk trdjms wlcc fdcp sfapd tfd f`usljb cajmskapd?
tfd abljb `n tfd Hahy H``g p`pucatl`j, tfd n`rgatl`j `n
jdw f`usdf`cms hy gdghdrs `n tfd Dkf` H``g bdjdratl`j,
ajm tfd ljkrdasljb mlvdrslty `n tfd bdjdrac p`pucatl`j as
gdghdrs `n glj`rlty br`ups (partlkucarcy Flspajlks) gaed
up a brdatdr pdrkdjtabd `n t`tac f`usdf`cms.2
]fd Hahy H``g Bdjdratl`j
Rd clvd lj a tlgd wfdj gdmlkac ajm `tfdr tdkfj`c`blkac
amvajkds gaed lt p`sslhcd n`r g`rd Agdrlkajs t` djo`y
c`jbdr, g`rd pr`muktlvd clvds. ]fls mdvdc`pgdjt, wflcd
kdrtaljcy wdck`gd, kfaccdjbds `ur k`ujtry t` djsurd tfat `ur
dxlstljb ajm nuturd f`usljb st`ke kaj supp`rt fdactfy clvljb
hy `cmdr Agdrlkajs. ]fls kfaccdjbd wlcc `jcy br`w as tfd
Hahy H``g bdjdratl`j gaturds.
]fd Kfajbljb Mdg`brapflks `nAgdrlka
]fd Tjltdm [tatds ls n`rtujatd t` favd a br`wljb p`pucatl`j
nudcdm hy h`tf jaturac ljkrdasd (jdt hlrtfs `vdr mdatfs)
ajm lgglbratl`j. Akk`rmljb t` pr`odktl`js `n tfd T.[.
Kdjsus Hurdau, tfd jatl`jac p`pucatl`j wlcc cledcy ljkrdasdnr`g ;19 glccl`j lj 8919 t` jdarcy ;;= glccl`j lj 8989. 4
Hy glm-kdjtury, tfd Kdjsus Hurdau pr`odkts tfat tfd T.[.
p`pucatl`j wlcc dxkddm =99 glccl`j.>As tfd p`pucatl`j
br`ws, tfd mdgajm n`r jdw ajm upbramdm f`usljb wlcc br`w
as wdcc. ]fd pr`muktl`j `n jdw f`usljb ujlts as wdcc as tfd
prdsdrvatl`j ajm rdj`vatl`j `n dxlstljb ujlts, h`tf `wjdr-
`kkupldm ajm rdjtac, sf`ucm hd a gao`r myjaglk n`rkd lj
tfd `vdracc jatl`jac dk`j`gy.
]fd Tjltdm [tatds sf`ucm rdanfirg a
k`ggltgdjt t` pr`vlmljb a mdkdjt f`gd
ajm a sultahcd clvljb djvlr`jgdjt n`r
dvdry Agdrlkaj naglcy.
]fls k`ggltgdjt, first artlkucatdm lj
tfd F`usljb Akt `n 199,999 pd`pcd
scddpljb `j tfd strddts, lj sfdctdrs,
`r lj tfdlr kars hdkausd tfdy kajj`t
ann`rm a f`gd.=
Ndmdrac p`clky sf`ucm strled aj
appr`prlatd hacajkd hdtwddj
f`gd`wjdrsflp ajm rdjtac suhslmlds.
@wjdr-`kkupldm f`usljb ajm rdjtac
f`usljb ard k`gpcdgdjtaryj`t
k`gpdtljbk`gp`jdjts `n a f`usljb
systdg tfat sdrvds ljmlvlmuacs ajm
naglclds at acc stabds `n clnd. ]fd
supp`rt tfd ndmdrac b`vdrjgdjt
mdv`tds t` f`usljb tfr`ubf mlrdkt
`utcays ajm tax suhslmlds sf`ucm hd
acc`katdm lj a gajjdr tfat rddkts
mlnndrdjkds lj tfd klrkugstajkds,
jddms, ajm prdndrdjkds `n f`usdf`cms
tfr`ubf`ut tfd clnd kykcd.
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Kfaptdr 1. Ljtr`muktl`j? @ur Jatl`js F`usljb
dxpdktdm t` br`w, nr`g =.8 glccl`j lj 8999 t` g`rd tfaj 4
29
24
69
64
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
]fd Dkf` H``gdrs
]fd Dkf` H``g bdjdratl`j, a k`f`rt `n appr`xlgatdcy >8
glccl`j ljmlvlmuacs h`rj hdtwddj 1
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Kfaptdr 1. Ljtr`muktl`j? @ur Jatl`js F`usljb
Mdspltd tfd mlspr`p`rtl`jatd lgpakt `n tfd rdkdjt
f`usljb krlsls `j glj`rlty f`gd`wjdrsflp ajm wdactf,
gajy gdghdrs `n tfd Anrlkaj Agdrlkaj ajm Flspajlk
k`ggujltlds k`jtljud t` asplrd t` f`gd`wjdrsflp, wltf
Flspajlks akk`ujtljb n`r a slbjlfikajt sfard `n jdw-
`wjdr f`usdf`cms.88As tfd Flspajlk sfard `n tfd `vdracc
p`pucatl`j br`ws, tfdrd gay hd a brdatdr jddm n`r strukturacakk`gg`matl`js t` tfd f`usljb st`ke lj clbft `n tfd carbd
naglclds ajm guctlbdjdratl`jac f`usdf`cms k`gg`j lj tfd
Flspajlk k`ggujlty.8;
]fd rdkdssl`j suhstajtlaccy sc`wdm tfd pakd `n lgglbratl`j
t` tfd Tjltdm [tatds. N`r tfd first tlgd lj rdkdjt gdg`ry,
br`wtf lj tfd n`rdlbj-h`rj p`pucatl`j sc`wdm lj tfd 8999s,
ajm br`wtf lj tfd jughdr `n n`rdlbj-h`rj f`usdf`cms
appdardm t` stacc as tfd rdkdssl`j ujn`cmdm. ]fdsd
mdvdc`pgdjts k`jtrlhutdm slbjlfikajtcy t` tfd `vdracc mdkcljd
lj jdw f`usdf`cm n`rgatl`js. As tfd dk`j`gy lgpr`vds,
lgglbratl`j wlcc cledcy favd a slbjlfikajt lgpakt `j tfd
f`usljb garedt, dspdklaccy lj batdway kltlds cled Jdw \`re,
C`s Ajbdcds, Glagl, ajm F`ust`j. F`usdf`cms fdamdm
hy n`rdlbj-h`rj ljmlvlmuacs ard g`rd cledcy t` clvd lj flbf-
mdjslty ardas ajm guctlnaglcy rdjtac f`usljb, dspdklaccy
s``j antdr arrlvac, ajm t` sdttcd lj k`ggujltlds wfdrd `tfdrs
nr`g tfdlr f`gd k`ujtrlds acrdamy rdslmd.8=Lj ammltl`j,
gajy gdmlug- ajm sgaccdr-slzdm kltlds fijm tfdlr lgglbrajt
k`ggujltlds br`wljb lj rdsp`jsd t` ndmdrac rdsdttcdgdjt
pr`brags as wdcc as w`re `pp`rtujltlds ajm naglcy
k`jjdktl`js lj tf`sd kltlds.
facn `n tfd cast mdkamd, gajy y`ujb amucts mdcaydm n`rgljb
tfdlr `wj f`usdf`cms. Ljstdam, s`gd mdklmdm t` clvd wltf
pardjts `r sfard f`usljb wltf r``ggatds. As a rdsuct,
br`wtf lj tfd jughdr `n jdw f`usdf`cms mdkcljdm nr`g aj
avdrabd `n 1.8 glccl`j ajjuaccy nr`g 8999 t` 8992 t` aj
avdrabd `n `jcy 4>6,999 ajjuaccy nr`g 8992 t` 8911.16As
tfd o`h garedt lgpr`vds, jdw f`usdf`cm n`rgatl`j hy tfdDkf` H``gdrs wlcc cledcy ljkrdasd as tfls pdjt-up mdgajm ls
rdcdasdm.
Rflcd tfd Dkf` H``gdrs wlcc nudc rdjtac mdgajm lj tfd
jdar- t` glm-tdrg, murljb tfd mdkamd tfat n`cc`ws 8989,
carbd jughdrs `n Dkf` H``gdrs wlcc cledcy trajsltl`j nr`g
rdjtac f`usljb t` f`gd`wjdrsflp. Lj gajy k`ggujltlds,
Dkf` H``gdrs wlcc pcay a cdamljb r`cd lj ahs`rhljb `wjdr-
`kkupldm sljbcd-naglcy f`usljb tfat fas hddj rdcdasdm ljt`
tfd garedt hy Hahy H``gdrs wf` favd dltfdr m`wjslzdm
t` g`rd sultahcd f`usljb, g`vdm lj wltf tfdlr kflcmrdj,
trajsltl`jdm ljt` jursljb f`gds ajm asslstdm-clvljb naklcltlds,
`r passdm away. ]fls pr`kdss `n f`usljb ahs`rptl`j hy tfd
Dkf` H``gdrs wlcc hd krltlkac t` tfd `jb`ljb vltaclty ajm
stahlclty `n c`kac f`usljb garedts, partlkucarcy tf`sd wltf
carbd jughdrs `n Hahy H``gdr f`usdf`cms.1
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
Agdrlkaj pd`pcd wlcc k`jtljud t` vldw f`gd`wjdrsflp as aj
dnndktlvd way t` hulcm f`usdf`cm wdactf rdgaljs t` hd sddj.
Rfat ls kcdar ls tfat `ur k`ujtrys dk`j`glk sltuatl`j w`ucm
hd vastcy lgpr`vdm wltf tfd rd-dstahclsfgdjt `n a f`usljb
garedt lj wflkf f`gd prlkds rdgalj stahcd ajm bramuaccy
apprdklatd `vdr tlgd ajm a rds`cutl`j `n tf`sd c`kac garedts
wfdrd carbd jughdrs `n f`gd`wjdrs ard ujmdrwatdr `jtfdlr g`rtbabds, `wljb g`rd tfaj tfdlr f`gds ard kurrdjtcy
w`rtf.
Lj rdkdjt g`jtfs, wd favd wltjdssdm a wdck`gd plke-
up lj sacds `n jdw ajm dxlstljb f`gds antdr tfdsd sacds
mr`ppdm t` flst`rlk c`ws. Jdvdrtfdcdss, n`r tfd lggdmlatd
nuturd, lt ls cledcy tfat tfd garedt n`r sljbcd-naglcy f`gds
wlcc k`jtljud t` hd tr`uhcdm, as tfd hakec`b `n n`rdkc`surds
ajm tfd jdarcy 11 glccl`j f`usdf`cms wf` ard ujmdrwatdr
`j tfdlr g`rtbabds favd a str`jb magpdjljb dnndkt `j
garedt vacuds.;9]fls magpdjljb dnndkt wlcc cledcy hd g`st
pr`j`ujkdm lj tf`sd statds wfdrd tfd f`usljb garedt t``e
tfd hlbbdst kclghs murljb tfd h``g ydars ajm tfd stddpdst
mr`ps antdr tfd garedts k`ccapsd.
Lj ammltl`j, dvdj tf`ubf g`rtbabd ratds ard at flst`rlk c`ws
ajm f`gd prlkds favd mr`ppdm hy as gukf as ;9 pdrkdjt
lj s`gd garedts, tfd krdmlt jddmdm t` purkfasd a f`gd ls
skarkd ajm farm t` attalj. ]fls krdmlt skarklty partlkucarcy
anndkts c`w-wdactf f`usdf`cms wf` ard g`rd cledcy t` hd
Anrlkaj Agdrlkaj ajm Flspajlk.
F`usljb ajm tfd Dk`j`gy? ]fdKfaccdjbd ajm tfd @pp`rtujlty
Flst`rlkaccy, f`usljb fas hddj a edy mrlvdr `n tfd T.[.
dk`j`gy. F`usljb k`jtrlhutds t` `ur jatl`js br`ss
m`gdstlk pr`mukt (BMY) tfr`ubf ljvdstgdjt lj rdslmdjtlac
pr`pdrtlds (h`tf sljbcd-naglcy f`gds ajm guctlnaglcyhulcmljbs) ajm tfr`ubf prlvatd k`jsugptl`j `n f`gd-
rdcatdm b``ms ajm sdrvlkds, sukf as jdw appclajkds
ajm nurjlturd, cajmskapljb, ajm f`gd rdpalr. Akk`rmljb
t` `jd dstlgatd, tfd k`jstruktl`j `n a typlkac 199-ujlt
guctlnaglcy mdvdc`pgdjt krdatds 69 o`hs mlrdktcy (tfr`ubf
k`jstruktl`j) `r ljmlrdktcy (tfr`ubf tfd suppcy kfalj), pcus
aj`tfdr =8 o`hs lj a rajbd `n c`kac `kkupatl`js as a rdsuct
`n k`jstruktl`j w`redrs spdjmljb tfdlr wabds.84[lglcar
dk`j`glk hdjdfits appcy t` sljbcd-naglcy k`jstruktl`j as
wdcc as rdj`vatl`j aktlvlty.8>K`jstruktl`j ajm rdj`vatl`j
acs` bdjdratd tax rdvdjud n`r statds ajm c`kacltlds, fdcpljb t`supp`rt tfd pr`vlsl`j `n dssdjtlac puhclk sdrvlkds.
Murljb tfd past n`ur mdkamds, tfd k`jtrlhutl`j `n f`usljb
t` jatl`jac BMY tfr`ubf h`tf rdslmdjtlac fixdm ljvdstgdjt
ajm k`jsugptl`j `n sdrvlkds fas avdrabdm hdtwddj 12
t` 1< pdrkdjt.82]`may, f`usljbs k`jtrlhutl`j stajms
at sclbftcy g`rd tfaj 14 pdrkdjt,86carbdcy hdkausd `n a
slbjlfikajt mdkcljd lj fixdm ljvdstgdjt lj f`gd k`jstruktl`j
ajm rdg`mdcljb. ]fls mdkcljd ls a gao`r rdas`j wfy tfd
rdkdssl`j ajm lts magabljb dnndkts favd cljbdrdm n`r s` c`jb.
Akk`rmljb t` s`gd dstlgatds, ln rdslmdjtlac fixdm ljvdstgdjt
rddktdm lts flst`rlkac avdrabd, tfd kurrdjt ratd `n dk`j`glkbr`wtf k`ucm m`uhcd.89%
J`rtf Mae`ta
Acasea
G`jtaja
Jdw \`re
@ecaf`ga
Tjltdm [tatds
Glkflbaj
Bd`rbla
Arlz`ja
Nc`rlma
Jdvama
[`urkd? K`rdC`blk, K`rdC`blk Xdp`rts 1.= Glccl`j H`rr`wdrs Xdturjdm t` Y`sltlvd Dqulty \dar t` Matd ]fr`ubf Djm `n tfd ]flrm Quartdr 8918. Oajuary 12, 891;.
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
F`usljb ls sfdctdr, ajm g`rd.
Cled n``m ajm kc`tfljb, lt ls a jdkdsslty `n clnd. Hut a
hurbd`jljb h`my `n rdsdarkf ls acs` sf`wljb us tfat f`usljb
tfat ls stahcd, ann`rmahcd, `n b``m quaclty, ajm c`katdm lj
jdlbfh`rf``ms tfat pr`vlmd `pp`rtujltlds ajm sdrvlkds ls tfd
n`ujmatl`j n`r gajy `tfdr hdjdfits tfat akkrud t` h`tf tfdljmlvlmuac ajm tfd hr`amdr k`ggujlty.
Akkdss t` stahcd, ann`rmahcd, ajm wdcc-c`katdm
f`usljb kaj lgpr`vd dmukatl`jac `utk`gds.
[tahcd, ann`rmahcd f`usljb kaj hd a pcatn`rg n`r hdttdr
dmukatl`jac `utk`gds. Rfdj kflcmrdj g`vd nrdqudjtcy
nr`g `jd skf``c t` aj`tfdr, tfdy tdjm t` m` cdss wdcc lj
skf``c ajm mlsrupt tfd dmukatl`jac djvlr`jgdjt n`r `tfdrs.;=
[tahcd, ann`rmahcd f`usljb kaj fdcp t` lgpr`vd dmukatl`jac
akfldvdgdjt hy rdmukljb tfd nrdqudjky `n ujwajtdm
g`vds. Ann`rmahcd f`usljb stratdblds tfat fdcp c`w-ljk`gdnaglclds akkdss c`w-p`vdrty jdlbfh`rf``ms `r k`ggujltlds
wltf flbf-pdrn`rgljb skf``cs kaj acs` k`jtrlhutd t` p`sltlvd
dmukatl`jac `utk`gds.;4Hdttdr dmukatl`jac pdrn`rgajkd, lj
turj, gay cdam t` brdatdr dgpc`ygdjt `pp`rtujltlds, flbfdr
ljk`gds, ajm a h``st t` jatl`jac wdactf ajm pr`muktlvlty.
Quaclty, ann`rmahcd f`usljb fdcps lgpr`vd tfd fdactf
`n kflcmrdj, `cmdr amucts, ajm `tfdrs ajm kaj hd a
pcatn`rg n`r g`rd dnndktlvd mdclvdry `n fdactf kard
sdrvlkds.
F`usljb tfat k`ghljds tfd attrlhutds `n stahlclty ajm b``mquaclty pr`g`tds p`sltlvd pfyslkac ajm gdjtac fdactf
`utk`gds n`r kflcmrdj ajm amucts acled.;>Rdcc-k`jstruktdm
ajm galjtaljdm f`usljb kaj suhstajtlaccy rdmukd kflcmrdjs
rlse `n cdam p`ls`jljb ajm rdsplrat`ry alcgdjts, cled astfga,
as wdcc as dxp`surd t` t`xlk suhstajkds, sukf as pdstlklmds,
ram`j, ajm karh`j g`j`xlmd.;2Rdcc-dqulppdm f`usljb,
wltf w`reljb sg`ed mdtdkt`rs ajm wljm`w buarms, kaj acs`
rdmukd tfd rlse `n ljoury `r mdatf.
sdjl`rs wf` wlsf t` stay lj tfdlr f`gds ajm abd lj pcakd,
c`w-ljk`gd rdjtdrs, tfd `wjdrs ajm mdvdc`pdrs `n carbd
guctlnaglcy rdjtac pr`odkts, ajm tfd g`g-ajm-p`p `wjdrs
ajm gajabdrs `n sgacc rdjtac pr`pdrtlds.
F`usljb ajm Djvlr`jgdjtac [ustaljahlclty
Dnn`rts t` rdst`rd f`usljbs tramltl`jac r`cd lj tfd T.[.
dk`j`gy gust hd akk`gpajldm hy a k`ggltgdjt t` rdmukljb
f`usdf`cm djdrby k`sts ajm amvajkljb jatl`jac djdrby b`acs.
Djdrby usd ass`klatdm wltf rdslmdjtlac hulcmljbs akk`ujts
n`r s`gd 81 pdrkdjt `n tfd jatl`js `vdracc djdrby usd, ajm
tfd brddjf`usd bas dglssl`js `n a typlkac f`gd ard m`uhcd
tfat `n tfd avdrabd vdflkcd.;8Akk`rmljbcy, dnn`rts t` lgpr`vd
tfd djdrby dnfikldjky `n h`tf dxlstljb ajm jdwcy k`jstruktdm
f`gds kaj k`jtrlhutd slbjlfikajtcy t` tfd jatl`jac b`acs `n
rdmukljb brddjf`usd bas dglssl`js ajm lgpr`vljb djdrby
sdkurlty. Blvdj tfd ammltl`jac djdrby ajm brddjf`usd basdglssl`js ass`klatdm wltf c`jb kar trlps, tfdsd b`acs kaj
nurtfdr hd amvajkdm hy ljkrdasljb tfd sfard `n f`gds
mdvdc`pdm lj waceahcd jdlbfh`rf``ms jdar puhclk-trajslt
statl`js ajm lj `tfdr ardas wfdrd f`usdf`cms kaj gddt g`rd
`n tfdlr trajsp`rtatl`j jddms tfr`ubf waceljb, hleljb, puhclk
trajslt, `r sf`rtdr kar trlps. ]fdsd appr`akfds ard ammltlvd;;
ajm t`bdtfdr kaj fdcp rdmukd f`usdf`cm dxpdjmlturds
n`r trajsp`rtatl`j ajm utlcltlds, wflkf acrdamy k`jsugd a
slbjlfikajt sfard `n tfd humbdts `n c`w- ajm g`mdratd-ljk`gd
f`usdf`cms.
Rfy F`usljb Ls Lgp`rtajt? Lts AccAh`ut Yd`pcd
@n k`ursd, tfd dk`j`glks `n f`usljb tdccs `jcy part `n tfd
st`ry. F`usljb ls lgp`rtajt hdkausd lt ls first ajm n`rdg`st
ah`ut gddtljb tfd haslk jddms `n pd`pcd.
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Kfaptdr 1. Ljtr`muktl`j? @ur Jatl`js F`usljb
n``m, pay n`r prdskrlptl`j gdmlkatl`j, ajm akkdss rdbucar
gdmlkac kard.
]fd Jdw Nlskac Xdaclty
] k`gpcdgdjt `ur f`usljb fijajkd systdg, tfd ndmdrac
b`vdrjgdjt mdpc`ys suhstajtlac fiskac rds`urkds t` supp`rtf`usljb tfr`ubf aj array `n mlrdkt spdjmljb, tax suhslmlds,
ajm krdmlt-djfajkdgdjt pr`brags. N`r dxagpcd, tfd
[dktl`j 6 F`usljb Kf`lkd ^`ukfdr ajm Yr`odkt-Hasdm
Xdjtac Asslstajkd pr`brags pr`vlmd a suhslmy t` asslst
s`gd ;.= glccl`j c`w-ljk`gd f`usdf`cms==lj k`vdrljb tfdlr
rdjtac f`usljb k`sts, ajm tfr`ubf tfdg supp`rt tfd pr`pdrty
`wjdrs ajm ljvdst`rs wf`sd kapltac ls krltlkac t` galjtaljljb
tfls f`usljb st`ke. ]fd ndmdrac tax k`md djk`urabds
prlvatd ljvdstgdjt lj tfd k`jstruktl`j, prdsdrvatl`j, ajm
rdfahlcltatl`j `n ann`rmahcd rdjtac f`usljb tfr`ubf tfd C`w
Ljk`gd F`usljb ]ax Krdmlt pr`brag, wflcd tfd g`rtbabdljtdrdst mdmuktl`j ajm tfd mdmuktl`j n`r statd ajm c`kac
pr`pdrty taxds alg t` pr`g`td f`gd`wjdrsflp. Ajm tfd
ljsurajkd ajm buarajtdd pr`brags `n tfd NFA, tfd T.[.
Mdpartgdjt `n ^dtdrajs Annalrs (^A), ajm tfd Xurac F`usljb
[drvlkd `n tfd T.[. Mdpartgdjt `n Abrlkucturd favd fdcpdm
glccl`js `n Agdrlkaj naglclds balj akkdss t` ann`rmahcd
g`rtbabds `vdr tfd past mdkamds. ]`bdtfdr, tfd ndmdrac
b`vdrjgdjt mdv`tds g`rd tfaj $169 hlccl`j ajjuaccy
tfr`ubf tfdsd ajm `tfdr ljltlatlvds t` fdcp gddt tfd mlvdrsd
f`usljb jddms `n tfd Agdrlkaj pd`pcd.
]fd k`gglssl`j rdk`bjlzds tfat `ur jatl`js ujsustaljahcdmdht hurmdj ls tfd m`gljajt, `vdrarkfljb lssud lj
Rasfljbt`j t`may. ]fls jdw fiskac rdaclty fas tfd n`cc`wljb
lgpclkatl`js n`r ndmdrac f`usljb p`clky?
Nlrst, dvdry ndmdrac f`usljb pr`brag gust hd dvacuatdm
`j a n`rwarm-c` eljb hasls, wltf attdjtl`j t` f`w
dnndktlvdcy lt rdsp`jms t` tfd f`usljb jddms `n t`may ajm
t`g`rr`w ratfdr tfaj tf`sd `n tfd past.
[tahcd f`usljb acs` djfajkds tfd lgpakt `n a varldty `n
fdactf ajm trdatgdjt sdrvlkds, lgpr`vljb `utk`gds ajm
savljb puhclk nujms. As wd abd, n`r dxagpcd, f`usljb
kaj sdrvd as a pcatn`rg t` supp`rt tfd g`rd dnndktlvd
mdclvdry `n sdrvlkds, partlkucarcy n`r sdjl`rs wf` jddm tfdsd
sdrvlkds t` clvd ljmdpdjmdjtcy. F`usljb tfat ls k`-c`katdm
wltf `r jdar sdrvlkd pr`vlmdrs kaj yldcm slbjlfikajt savljbsajm dnfikldjklds hy acc`wljb `cmdr amucts t` abd lj pcakd,
tfdrdhy mdcayljb `r av`lmljb tfd jddm n`r gukf g`rd
k`stcy ljstltutl`jac kard tfat kaj mraw fdavlcy up`j clgltdm
statd ajm ndmdrac rds`urkds.;6Rflcd ammltl`jac rdsdarkf ls
jddmdm, lt ls ljkrdasljbcy kcdar tfat g`mdst ljtdrvdjtl`js
ajm sdrvlkds mdclvdrdm tfr`ubf sdjl`rs f`usljb kaj rdmukd
dgdrbdjky-r``g vlslts ajm tfd sdvdrlty `n lccjdssds, wflkf
trajscatds t` c`wdr fdactf kard k`sts n`r sdjl`rs ajm puhclk
ajm prlvatd ljsurdrs.;
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
aj ann`rmahcd rdjtac as sfd djtdrs tfd w`ren`rkd, tfd jdwcy
garrldm k`upcd lj tfd garedt n`r a startdr f`gd, tfd sljbcd
g`tfdr sddeljb a f`usd wltf g`rd spakd n`r fdr tw` aktlvd
tddjabdrs, ajm tfd rdtlrdm wlm`wdr wf` kajj`t lgabljd
clvljb ajywfdrd hut lj tfd sagd Kapd K`m ajm lj tfd
sagd k`ggujlty fd fas kaccdm f`gd n`r g`rd tfaj =9
ydars.
Rd clvd lj tlgds `n brdat turg`lc ajm ujkdrtaljty n`r glccl`js
`n Agdrlkajs, partlkucarcy n`r tf`sd at tfd c`wdr djm `n tfd
ljk`gd skacd. [`, lt ls `ur vldw, t``, tfat a f`usljb systdg
darjs tfd gajtcd `n sukkdss `jcy ln lt amdquatdcy gddts tfd
kfajbljb jddms `n tfd jatl`j.
[dk`jm, ndmdrac f`usljb pr`brags gust `pdratd `j
a g`rd dnfikldjt hasls ajm mdclvdr sdrvlkds lj a g`rd
dnndktlvd gajjdr, cdvdrabljb t` tfd gaxlgug dxtdjt
p`sslhcd tfd rds`urkds `n tfd prlvatd ajm j`jpr`fit sdkt`rs
as wdcc as statd ajm c`kac b`vdrjgdjts.
Nljaccy, tfd k`gglssl`j rdk`bjlzds tfat ajy pr`p`sacs n`r
ljkrdasdm spdjmljb gust hd `nnsdt dltfdr hy rdmuktl`js
lj ndmdrac `utcays, savljbs nr`g systdgs rdn`rgs, ajm/`r
tfr`ubf tfd am`ptl`j `n jdw rdvdjud s`urkds.
]fd faccgare `n a sukkdssnuc f`usljb systdg ls wfdtfdr lt
`nndrs ann`rmahcd ajm sdkurd f`usljb `ptl`js t` Agdrlkajs
at accstabds lj tfdlr clvdstfd y`ujb bramuatd c``eljb n`r
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rdspdkts, tfdsd p`clklds fdcpdm t` hulcm a rdslcldjt ajm
hr`am glmmcd kcass lj wflkf assdts wdrd sfardm akr`ss
bdjdratl`js, k`jtrlhutljb t` fijajklac stahlclty ajm s`klac
g`hlclty as wdcc as str`jbdr k`ggujltlds.
As `utcljdm lj Nlburd =-8 `j pabd 192, tfd ndmdrac
b`vdrjgdjt fas acs` flst`rlkaccy supp`rtdm f`gd`wjdrsflptfr`ubf spdklfik tax suhslmlds. Lj 1, n`r dxagpcd,
K`jbrdss pr`tdktdm g`rtbabd h`rr`wdrs hy rdtaljljb tfdlr
ahlclty t` mdmukt ljtdrdst paygdjts `j g`rtbabds wflcd
dclgljatljb sukf mdmuktl`js n`r acc `tfdr n`rgs `n k`jsugdr
mdht. ]fdsd tax suhslmlds rdgalj tfd g`st slbjlfikajt n`rg
`n fijajklac supp`rt n`r f`usljb lj tfd ndmdrac humbdt.
]fd k`ccapsd `n tfd f`usljb garedt lj 8992, f`wdvdr, fas
cdm gajy t` qudstl`j tfd dcdvatdm status `n f`gd`wjdrsflp
lj Agdrlkaj s`kldty. ]fls rdassdssgdjt ls ujmdrstajmahcd
lj clbft `n tfd fujmrdms `n tf`usajms `n naglclds wf` favd
c`st tfdlr f`gds t` n`rdkc`surd ajm ls dssdjtlac ln wd ard
t` av`lm rdpdatljb tfd glstaeds `n tfd past. As part `n tfls
rdassdssgdjt, tfd k`gglssl`j rdk`ggdjms tfd am`ptl`j `n
p`clklds tfat kaj akk`gg`matd tfd kfajbljb mdg`brapflk
pr`ficd `n jdw f`usdf`cms mdskrlhdm darcldr lj tfls rdp`rt,
strleljb a hacajkd hdtwddj supp`rt n`r f`gd`wjdrsflp ajm
rdjtljb, ajm prl`rltlzljb sukf supp`rt t` fdcp tf`sd wltf tfd
brdatdst jddms lj h`tf sdkt`rs.
Cdarjljb nr`g Yast Glstaeds
]fd f`usljb h``g ajm hust bdjdratdm aj dk`j`glkm`wjturj nr`g wflkf tfd jatl`j fas ydt t` rdk`vdr. [`gd
ajacysds favd attrlhutdm tfd r``t kausd `n tfd m`wjturj t`
tfd pusf n`r f`gd`wjdrsflp ajm fix tfd hcagd prljklpaccy
`j p`clklds t` supp`rt f`gd`wjdrsflp. A k`gpcdtd ajm
k`rrdkt ajacysls w`ucm rdk`bjlzd tfat `vdrcy dxuhdrajt f`gd
huyljb pr`vlmdm aj lgp`rtajt stlgucajt, hut w`ucm pcakd lt
lj tfd k`jtdxt `n a wlmd rajbd `n nakt`rs tfat k`jvdrbdm t`
krdatd a bc`hac krlsls. ]fdsd nakt`rs ljkcumd?
N`r bdjdratl`js, glccl`js `n Agdrlkaj naglclds favd asplrdm
t` purkfasd ajm clvd lj a f`gd tfdy kaj kacc tfdlr `wj.
]fls asplratl`j ls s` tlbftcy w`vdj ljt` `ur jatl`js kucturac
nahrlk tfat `wjljb a f`gd fas hdk`gd syj`jyg`us wltf
akfldvljb tfd Agdrlkaj Mrdag ajm o`ljljb tfd jatl`js
glmmcd kcass.
Xdsdarkf sf`ws tfat f`gd`wjdrsflp fas p`sltlvd
lgpakts `j tfd stahlclty `n k`ggujltlds as naglclds
supp`rt ajm jurturd tfdlr f`gds ajm surr`ujmljb
jdlbfh`rf``ms.=4F`gd`wjdrsflp fas acs` hddj cljedm
wltf ljkrdasdm klvlk djbabdgdjt, flbfdr v`tdr turj`ut,
djfajkdm f`gd galjtdjajkd, ajm rdmukdm krlgd ratds.=>
G`rd`vdr, f`gd`wjdrsflp, ajm tfd stahlclty ann`rmdm hy
f`gd`wjdrsflp, fas hddj cljedm wltf p`sltlvd hdfavl`rac
`utk`gds ajm dmukatl`jac akfldvdgdjt ag`jb kflcmrdj.=2
N`r gajy naglclds, purkfasljb a f`gd ls acs` tfd g`st
krltlkac ljvdstgdjt mdklsl`j tfdy dvdr gaed. ]fr`ubf tfd
n`rkdm savljbs `n a g`jtfcy g`rtbabd paygdjt ajm as a
rdsuct `n f`usd prlkd apprdklatl`j, f`gd`wjdrsflp fas
djahcdm glccl`js `n naglclds t` hulcm up dqulty `vdr tlgd,
wflkf fas usuaccy trajscatdm ljt` brdatdr f`usdf`cm wdactf
ajm g`rd fijajklac sdkurlty. N`r gajy f`usdf`cms, a f`gd
ls tfdlr prlgary assdt ajm f`gd`wjdrsflp rdprdsdjts tfdlr
sljbcd brdatdst wdactf-hulcmljb `pp`rtujlty. @vdr tfd ydars,
glccl`js `n f`gd`wjdrs favd sdjslhcy cdvdrabdm tfd dqulty
lj tfdlr f`gds t` sdjm tfdlr kflcmrdj t` k`ccdbd, start a jdw
husljdss, pay n`r fdactf kard ajm `tfdr dgdrbdjky k`sts,
ajm gddt tfdlr rdtlrdgdjt jddms.
Matljb hake t` tfd F`gdstdam Akts `n tfd 16>9s, tfd
ndmdrac b`vdrjgdjt fas pr`g`tdm cajm `wjdrsflp
ajm f`gd`wjdrsflp as ways t` spur pdrs`jac ajm
k`ggujlty ljvdstgdjt. [uhsdqudjt p`clkldssukf as tfd
dstahclsfgdjt `n tfd Ndmdrac F`gd C`aj Haje systdg, tfd
krdatl`j `n tfd NFA ajm ^A g`rtbabd ljsurajkd pr`brags,
ajm tfd dstahclsfgdjt `n Najjld Gad ajm Nrdmmld Gak
wdrd mdslbjdm wltf tfls sagd b`ac lj gljm. Lj gajy
Kfaptdr 8.]fd K`jtljuljb ^acud `nF`gd`wjdrsflp
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Kfaptdr 8. ]fd K`jtljuljb ^acud `n F`gd`wjdrsflp
t` tfd dxpajsl`j `n f`gd`wjdrsflp murljb a pdrl`m `n
dk`j`glk br`wtf, ajm as a rdsuct, t` ujmucy kurtalc supp`rt
`n f`gd`wjdrsflp n`r f`usdf`cms tfat kaj rdsp`jslhcy
assugd tfd `hclbatl`js `n a g`rtbabd.=6
@n k`ursd, at tfd djm `n tfd may, prumdjt ujmdrwrltljb
ls tfd dssdjtlac ljbrdmldjt `n a systdg `n rdsp`jslhcd,sustaljahcd f`gd`wjdrsflp. Murljb tfd f`usljb h``g, a
gao`r nakt`r k`jtrlhutljb t` tfd ahajm`jgdjt `n prumdjt
ujmdrwrltljb was tfd glstaedj hdcldn sfardm hy akt`rs
akr`ss tfd g`rtbabd kfaljcdjmdrs, h`rr`wdrs, rdbucat`rs,
ajm ljvdst`rstfat f`gd prlkds wdrd ljactdrahcy fdamljb
upwarm. Gajy h`rr`wdrs t``e `ut sf`rt-tdrg g`rtbabds tfat
wdrd strukturdm wltf carbd paygdjt sf`kes at tfd djm `n
tfd tdrg, hdcldvljb tfat dvdr-ljkrdasljb f`gd prlkds w`ucm
acc`w tfdg t` rdfijajkd hdn`rd ratds rdsdt. Rfdj f`usd
prlkds mdkcljdm, f`wdvdr, rdfijajkljb was j` c`jbdr aj
`ptl`j n`r gajy f`usdf`cms, wf` n`ujm tfdgsdcvds c`kedm
ljt` g`rtbabds tfdy k`ucm j` c`jbdr sustalj. Lj ammltl`j,
as tfd f`usljb huhhcd dxpajmdm, nar t`` gukf dgpfasls
was pcakdm `j `wjljb a f`gd as aj ljvdstgdjt assdt ajm
as a nast trake t` akqulrljb wdactf, cdamljb s`gd t` assugd
ujsustaljahcd cdvdcs `n mdht lj tfd f`pds `n gaeljb a qulke
balj `r `ut `n ndar tfdy w`ucm hd cdnt hdfljm ln tfdy mlm j`t
akt. K`jtrlhutljb t` aj acrdamy ujsustaljahcd sltuatl`j,
gajy f`gd`wjdrs t``e `ut F`gd Dqulty Cljds `n Krdmlt t`
k`vdr `tfdr dxpdjsds, cdavljb tfdg wltf clttcd t` j` f`gd
dqulty wfdj f`gd prlkds mr`ppdm.
At tfd sagd tlgd, praktlkds cled rdvdrsd rdmcljljb ajmstddrljb naglclds ljt` rlseldr g`rtbabd pr`mukts (sukf as
amoustahcd-ratd g`rtbabds ajm c`ajs wltf flbf prdpaygdjt
pdjactlds) cdm t` flbfdr mdnauct ratds, dspdklaccy wltflj tfd
Flspajlk ajm Anrlkaj Agdrlkaj k`ggujltlds. Xdsdarkf
sf`ws tfat gajy `n tfd naglclds wf` mlm mdnauct `j tfdsd
c`ajs fam b``m krdmlt, a mdkdjt ljk`gd, ajm dvdrytfljb
dcsd jdkdssary t` quaclny n`r a tramltl`jac c`jb-tdrg, fixdm-
ratd c`aj, hut ljstdam wdrd stddrdm ljt` dx`tlk ajm k`stcy
g`rtbabds tfdy mlm j`t nuccy ujmdrstajm ajm k`ucm j`t
A krdmlt huhhcd n`rgdm as a rdsuct `n dxkdss kapltac
surpcusds hulct up hy Kflja ajm tfd carbd `lc-pr`mukljb
jatl`js.
Jdw Racc [trddt sdkurltlzatl`j ljstrugdjts tfat usdm
k`gpcdx fdmbljb stratdblds ajm bdjdratdm gasslvd bc`hac
mdgajm h`tf n`r g`rtbabd-hakedm sdkurltlds ajm n`r
suhprlgd g`rtbabds t` b` ljt` tfdsd sdkurltlds, ajm tfd
mdklsl`js hy krdmlt-ratljb abdjklds t` brajt t`p ratljbs t`
trajkfds `n suhprlgd g`rtbabds.
]fd dgdrbdjkd `n ahuslvd ajm prdmat ry g`rtbabd
pr`mukts tfat rdqulrdm j` m`kugdjtatl`j ajm j`
m`wj paygdjts, as wdcc as tfd aktlvltlds `n ujquaclfidm
h`rr`wdrs wf` dxpc`ltdm `pp`rtujltlds ajm suhglttdm
nacsd `r ljamdquatd krdmlt ljn`rgatl`j.
]fd rdcaxatl`j `n ujmdrwrltljb stajmarms hy gao`r hajes
ajm g`rtbabd cdjmdrs lj `rmdr t` k`gpdtd n`r garedt
sfard wltf jdw suhprlgd pr`mukts.
Najjld Gad ajm Nrdmmld Gaks mrlvd t` rdkapturd
garedt sfard c`st t` sdkurltlzatl`j `n suhprlgd ajm
`tfdr j`jprlgd g`rtbabds, wflkf cdm tfdg t` rdcax
ujmdrwrltljb stajmarms ajm taed `j rlse n`r wflkf tfdy
wdrd j`t prdpardm.
Xdbucat`ry nalcurd kausdm lj part hy a gazd `n
b`vdrjgdjt `vdrslbft abdjklds wltf `vdrcappljb
ourlsmlktl`js ajm, lj s`gd ljstajkds, j` rdbucat`ry
autf`rlty.
Hdkausd `n tfd skacd ajm lgp`rtajkd `n tfd jatl`js
f`usljb garedt, tfdsd nakt`rs ajm `tfdrs k`jvdrbdm t`
krdatd a h``g `n gasslvd pr`p`rtl`js ajm a hust `n flst`rlk
lgpakt. ]fd p`ljt `n tfls cltajy `n k`jvdrbdjt n`rkds ls j`t
t` assdss hcagd `r t` `vdrslgpclny k`gpcdx ljtdraktl`js
hut t` djk`urabd a k`gpcdtd mlabj`sls s` tfat p`clky
rdk`ggdjmatl`js ajm k`rrdktlvd gdasurds ammrdss tfd
pr`hcdgs dnndktlvdcy. Lt w`ucm hd drr`jd`us ajm magabljb
t` glsrdam tfd `rlbljs `n tfd krlsls, t` attrlhutd lt s`cdcy
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
`n pr`pdr rdbucatl`j, amdquatd clqulmlty, ajm tfd rlbft
ljkdjtlvds lj tfd prlvatd garedt kaj fdcp djsurd tfat
f`gd`wjdrsflp rdgaljs a vltac f`usljb ajm wdactf-hulcmljb
`ptl`j. [dd ]dxt H`x, Mdvdc`pljb [`ujm Yrljklpcds `n
Xdbucatl`j, pabd 4;.
Bdttljb F`gd`wjdrsflp Xlbft
Lj a stumy `n =>,999 c`w-ljk`gd f`gd`wjdrs, rdsdarkfdrs
at tfd Tjlvdrslty `n J`rtf Kar`cljas Kdjtdr n`r K`ggujlty
Kapltac n`ujm tfat g`rd tfaj
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Kfaptdr 8. ]fd K`jtljuljb ^acud `n F`gd`wjdrsflp
Kc`sljb tfd F`gd`wjdrsflp Bap
As wd c``e t` tfd nuturd, wd gust djsurd tfat tfd
`pp`rtujltlds ajm suhstajtlac hdjdfits `n f`gd`wjdrsflp
ard avalcahcd t` acc gdghdrs `n `ur s`kldty wf` ard
prdpardm t` assugd tfd rdsp`jslhlcltlds `n hdljb a
f`gd`wjdr. F`gd`wjdrsflp ratds t`may k`jtljud t` hdmragatlkaccy mlsslglcar akr`ss raklac ajm dtfjlk br`ups
ajm ljk`gd hajms (sdd Kfarts 8-8 ajm 8-;). Lj 8911, tfd
f`gd`wjdrsflp ratds n`r Flspajlks ajm Anrlkaj Agdrlkajs
wdrd k`jslmdrahcy c`wdr tfaj tfd f`gd`wjdrsflp ratd
n`r tfd `vdracc p`pucatl`j. ]fls bap fagpdrs dk`j`glk
pr`spdrlty ajm tfd br`wtf `n a stahcd ajm sdkurd glmmcd
kcass. As `ur k`ujtry br`ws g`rd mlvdrsd, wltf gdghdrs
`n t`mays glj`rlty br`ups akk`ujtljb n`r aj ljkrdasljbcy
carbdr sfard `n tfd jatl`jac p`pucatl`j, djsurljb tfat tfd
`pp`rtujlty n`r f`gd`wjdrsflp ls `pdj t` acc krdmltw`rtfy
f`usdf`cms ls g`rd lgp`rtajt tfaj dvdr.
[ljkd tfd k`ccapsd `n tfd f`usljb garedt, tfd
f`gd`wjdrsflp ratd fas naccdj nr`g >2.; pdrkdjt lj 8994
t` >=.> pdrkdjt lj 8911.4;\dt, akk`rmljb t` rdsdarkf
pdrn`rgdm hy tfd Trhaj Ljstltutd tfat assdssds a jughdr
`n pr`odktdm mdg`brapflk skdjarl`s, tfd `vdracc jatl`jac
f`gd`wjdrsflp ratd ls ujcledcy t` nacc hdc`w >9 pdrkdjt at
ajy tlgd hdn`rd 89;9 ajm ls g`rd cledcy t` hd flbfdr tfaj>9 pdrkdjt.4=A f`gd`wjdrsflp ratd lj dxkdss `n >9 pdrkdjt
ls bdjdraccy k`jslstdjt wltf tfd ratd tfat dxlstdm `vdr tfd
past 49 ydars (sdd Kfart 8-1). N`r tfd n`rdsddahcd nuturd,
f`gd`wjdrsflp wlcc k`jtljud t` hd tfd prdndrrdm f`usljb
kf`lkd `n a gao`rlty `n Agdrlkaj f`usdf`cms.
Kfart 8-1? Jatl`jac F`gd`wjdrsflp Xatd, 19 t` 8919
>9%
>1%
>8%
>;%
>=%
>4%
>>%
>2%
19 1
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
Kfart 8-;? Jatl`jac F`gd`wjdrsflp Xatd hy Ljk`gd, 8911
9%
19%
89%
;9%
=9%
49%
>9%
29%
69%
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Kfaptdr 8. ]fd K`jtljuljb ^acud `n F`gd`wjdrsflp
N`urtf, g`rtbabd cdjmljb, z`jljb, ajm cajm-usd p`clklds
sf`ucm supp`rt jdw n`rgs `n f`gd`wjdrsflp tfat kaj
c`wdr k`sts ajm prdsdrvd ann`rmahcd f`gd`wjdrsflp
`pp`rtujltlds `vdr tlgd.
]fd k`gglssl`j acs` supp`rts tfd k`jtljuatl`j `n tax
ljkdjtlvds n`r f`gd`wjdrsflp, hut rdk`bjlzds tfat, lj tfd
`jb`ljb mdhatd `vdr tax rdn`rg ajm humbdt prl`rltlds, acc
rdvdjud `ptl`js wlcc hd dvacuatdm. [dd pabd 19= n`r nurtfdr
mlskussl`j `n tfd k`gglssl`js vldws `j ndmdrac supp`rt n`r
f`usljb.
]fd rdgaljmdr `n tfls kfaptdr sdts n`rtf tfd kasd n`r aj
djfajkdm jatl`jac kapaklty n`r f`usljb k`ujsdcljb ajm
lmdjtlfids dgdrbljb appr`akfds t` f`gd`wjdrsflp tfat
gdrlt nurtfdr stumy ajm supp`rt. Kfaptdr ; `utcljds a
rdmdslbjdm f`usljb fijajkd systdg tfat kaj supp`rt jdw
f`usljb pr`muktl`j ajm gddt tfd g`rtbabd krdmlt jddms `ntfd Agdrlkaj pd`pcd.
]fd Y`wdr `n F`usljb Dmukatl`j ajmK`ujsdcljb
]fd F`usljb K`ujsdcljb Asslstajkd Yr`brag amgljlstdrdm
hy FTM was dstahclsfdm lj 16 ajm fas tramltl`jaccy
djo`ydm hlpartlsaj supp`rt. @vdr tlgd, nujmljb fas
stdamlcy ljkrdasdm, ajm tfd sk`pd `n tfd pr`brag fas
hr`amdjdm t` n`kus `j pr`vlmljb dmukatl`j ajm amvlkd t`
first-tlgd f`gdhuydrs, rdjtdrs, sdjl`rs, ajm f`gd`wjdrs
nakljb n`rdkc`surd. Nljajklac ljstltutl`js ajm k`ujsdcljb
`rbajlzatl`js favd mdvdc`pdm partjdrsflps as a rdsuct `n tfd
pr`brag, ajm p`clky gaedrs ard ljk`rp`ratljb k`ujsdcljb
lj tfdlr rucds ajm rdbucatl`js. @vdr tfd cast mdkamd, tfd
F`usljb K`ujsdcljb Asslstajkd Yr`brag fas amaptdm t`
a myjaglk f`usljb garedt hy ljkrdasljb lts kapaklty ajm
s`pflstlkatl`j. ]`may, f`usljb k`ujsdc`rs favd dxpdrldjkd
lj g`rtbabd `rlbljatl`j, c`ss gltlbatl`j, rdvdrsd g`rtbabds,
f`gdcdss k`ujsdcljb, ajm tdjajt rlbfts, ajm tfdy favd
]fd Y`tdjtlac n`r F`gd`wjdrsflp Br`wtf lj
Gao`rlty-Glj`rlty Ourlsmlktl`js44
]fd O`ljt Kdjtdr n`r F`usljb [tumlds `n Farvarm Tjlvdrslty
pr`odkts tfat glj`rltlds wlcc akk`ujt n`r g`rd tfaj 29 pdrkdjt
`n jdt f`usdf`cm br`wtf lj 891989. Hy 8911, tfdrd wdrdacrdamy fivd gao`rlty-glj`rlty ourlsmlktl`js lj tfd k`ujtry?
Fawall (22.1 pdrkdjt glj`rlty), tfd Mlstrlkt `n K`cughla
(>=.2 pdrkdjt), Kacln`rjla (>9.; pdrkdjt), Jdw Gdxlk` (4
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
ahlclty t` rdsp`jm t` aj ljkrdasljbcy k`gpcdx garedtpcakd,
acc`wljb k`ujsdc`rs t` rdakf kcldjts lj brdatdr jughdrs tfaj
dvdr hdn`rd ajm lj g`rd rdg`td c`katl`js. FTM-appr`vdm
f`usljb k`ujsdcljb abdjklds kaj dltfdr k`jjdkt wltf FTM
mlrdktcy `r w`re tfr`ubf a jatl`jac `r rdbl`jac ljtdrgdmlary.
Jatl`jac ljtdrgdmlarlds pr`vlmd cdamdrsflp tfat strdjbtfdjs
tfd k`ujsdcljb fidcm ajm lgpr`vds tfd quaclty ajmpr`ndssl`jaclsg `n k`ujsdcljb sdrvlkds. N`r ljstajkd, tfdy
fdcp p``c nujms, hr`edr partjdrsflps, sddm pr`brags, ajm
tralj k`ujsdc`rs. ]fd puhclk kagpalbjs tfat favd hr`ubft
rdk`rm jughdrs `n f`gd`wjdrs t` f`usljb k`ujsdc`rs
tfr`ubf tfd Jatl`jac K`ujklc `n Ca Xazas Ljmdpdjmdjt
N`rdkc`surd Xdvldw f`tcljd ajm tfd F`gd`wjdrsflp
Yrdsdrvatl`j N`ujmatl`js F`pd f`tcljd ard b``m dxagpcds
`n dxpajmdm kapaklty, strukturd, ajm k``rmljatl`j pr`vlmdm
hy ljtdrgdmlarlds.
]fd vast gao`rlty `n FTM-appr`vdm f`usljb k`ujsdcljbpr`vlmdrs ard k`ggujlty-hasdm j`jpr`fits. K`ggujlty-
hasdm `rbajlzatl`js c`katdm lj tfd jdlbfh`rf``ms tfdy sdrvd
favd dstahclsfdm rdcatl`jsflps wltf c`kac cdamdrs ajm favd
tfdlr pucsd `j k`ggujlty jddms. ]fdy ard `ntdj tfd first p`ljt
`n k`jtakt n`r strubbcljb naglclds. Gajy `n tfdsd `rbajlzatl`js
hrljb a kucturac k`gpdtdjky tfat ls krltlkac wfdj rdakfljb
ujmdrsdrvdm glj`rlty ajm lgglbrajt p`pucatl`js.
[tajmarms
FTM supp`rts a jdtw`re `n jdarcy 8,299 abdjklds tfat,
sljkd 8994, fas asslstdm g`rd tfaj 1;.= glccl`j f`usdf`cms
as tfdy gaed mdklsl`js ah`ut tfdlr nuturd f`usljb.42]fd
FTM F`usljb K`ujsdcljb Fajmh``e mdfijds ajm bulmds
tfd sdrvlkds pr`vlmdm hy tfdsd abdjklds, acc `n wflkf rdp`rt
aktlvlty ajjuaccy ajm ard suhodkt t` pdrn`rgajkd rdvldws
dvdry tw` ydars.
Ljtdrgdmlarlds ard rdsp`jslhcd n`r djsurljb tfat tfd
`rbajlzatl`js tfdy nujm k`gpcy wltf FTM stajmarms,
as calm `ut lj tfd FTM Fajmh``e. Ljtdrgdmlarlds w`re
a trake rdk`rm `n pr`vlmljb `hodktlvd ljn`rgatl`j ajm
bulmajkd.
Kurrdjt p`clky rdk`bjlzds tfd lgp`rtajkd `n k`ujsdcljb
n`r dspdklaccy vucjdrahcd h`rr`wdrs. K`ujsdcljb ls acrdamy
rdqulrdm as a k`jmltl`j t` `htaljljb a rdvdrsd g`rtbabd
tf`ubf tfd NFAs F`gd Dqulty K`jvdrsl`j G`rtbabdpr`brag, ajm tfd M`mm-Nraje Akt rdqulrds k`ujsdcljb
n`r h`rr`wdrs sddeljb t` rdfijajkd ljt` flbf-k`st c`ajs,
as mdfijdm hy tfd F`gd @wjdrsflp ajm Dqulty Yr`tdktl`j
Akt. M`mm-Nraje acs` dcdvatdm k`ujsdcljbs lgp`rtajkd hy
krdatljb a jdw @nfikd `n F`usljb K`ujsdcljb wltflj FTM.
]fd k`gglssl`j hdcldvds tfat f`usljb k`ujsdcljb kaj
lgpr`vd pr`spdktlvd h`rr`wdrs akkdss t` ann`rmahcd,
prumdjt g`rtbabd c`ajs, dspdklaccy n`r naglclds tfat
`tfdrwlsd glbft j`t quaclny `r wf` gay dxpdrldjkd
`tfdr harrldrs t` galjstrdag cdjmljb. ]fdrd ls a wlmd
puhclk hdjdfit nr`g ljvdstgdjt lj f`usljb dmukatl`j
ajm k`ujsdcljb pr`brags, ajm tfd k`gglssl`j tfdrdn`rd
supp`rts k`jtljudm ndmdrac appr`prlatl`js n`r f`usljb
k`ujsdcljb, ajm rdk`ggdjms tfat staedf`cmdrs wf`
hdjdfit nr`g a h`rr`wdrs akkdss t` k`ujsdcljb sdrvlkds
hd dxpdktdm t` k`jtrlhutd t` tfd k`st `n tfd sdrvlkd. ]`
akfldvd tfls vlsl`j, n`ur edy dcdgdjts ard jdkdssary? (1) a
str`jb k`ujsdcljb ljnrastrukturd5 (8) kcdar stajmarms5 (;) aj
ujmdrstajmljb `n tfd pr`pdr r`cd n`r k`ujsdc`rs5 ajm (=) tfd
am`ptl`j `n hdst praktlkds n`r ljtdbratljb k`ujsdcljb ljt` tfd
g`rtbabd garedt.
K`ujsdcljb Ljnrastrukturd
]dkfj`c`by ajm pr`mukt mdvdc`pgdjt, fugaj kapltac,
hrajm awardjdss, ajm supp`rt ard edy aspdkts `n tfd
f`usljb k`ujsdcljb jdtw`re. @jcljd tdkfj`c`by acc`ws
k`ujsdc`rs t` hdttdr dvacuatd tfd fijajklac klrkugstajkds
`n dakf h`rr`wdr ajm f`gd`wjdr.4>Ajm jdw tdkfj`c`by
ajm ljnrastrukturd mdvdc`pdm lj tfd waed `n tfd f`usljb
garedts k`ccapsd favd ljkrdasdm k`ujsdc`rs dnfikldjky ajm
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Kfaptdr 8. ]fd K`jtljuljb ^acud `n F`gd`wjdrsflp
K`ujsdc`rs k`akf kcldjts t` ujmdrstajm f`w cdjmdrs
gaed c`aj mdklsl`js ajm kaj fdcp pr`spdktlvd huydrs `r
rdjtdrs mdtdrgljd tfdlr g`jtfcy tfrdsf`cm n`r f`usljb-
rdcatdm dxpdjsds. F`gd`wjdrs wf` rdkdlvd prd-purkfasd
k`ujsdcljb dxflhlt suhstajtlaccy c`wdr mdcljqudjky ratds.
N`r dxagpcd, ag`jb a br`up `n =9,999 Nrdmmld Gak c`ajs,
tfd h`rr`wdrs wf` rdkdlvdm `jd-`j-`jd `r kcassr``g stycdk`ujsdcljb wdrd `j avdrabd hdtwddj 89 ajm =9 pdrkdjt
cdss cledcy t` dvdr dxpdrldjkd a sdrl`us mdcljqudjky tfaj
tfdlr pddrs wf` mlm j`t attdjm k`ujsdcljb sdssl`js.46
K`ujsdc`rs kaj acs` hd aj accy lj tfd dvdjt `n aj
ujdxpdktdm fijajklac kfajbd ajm kaj start tfd k`jvdrsatl`j
wltf a cdjmdr ah`ut ways t` fdcp strubbcljb f`gd`wjdrs.
N`r dxagpcd, h`rr`wdrs wf` rdkdlvdm k`ujsdcljb ujmdr
tfd Jatl`jac N`rdkc`surd Gltlbatl`j K`ujsdcljb pr`brag,
krdatdm lj tfd waed `n tfd n`rdkc`surd krlsls, wdrd twlkd as
cledcy t` `htalj a c`aj g`mlfikatl`j ajm >2 pdrkdjt g`rd
cledcy t` rdgalj kurrdjt `j tfd g`rtbabd jljd g`jtfs
catdr as k`gpardm wltf tfdlr k`ujtdrparts, wf` rdkdlvdm a
g`mlfikatl`j wltf`ut tfd asslstajkd `n a k`ujsdc`r.49Kcdarcy, sukf pr`brags w`ucm favd t` hd
tdstdm hdn`rd skacljb ajm prlkdm k`jslstdjt wltf rlse- ajm
kapltac-gajabdgdjt prljklpcds.
Cdjmdrs ajm `tfdrs kaj rdqulrd k`ujsdcljb n`r kdrtalj
pr`mukts. N`r dxagpcd, tfd Ndmdrac F`gd C`aj Hajes
f`gd`wjdrsflp sdt-aslmd pr`brags ljkcumd k`ujsdcljbas a rdqulrdm k`jmltl`j n`r dclblhlclty. A stumy k`jmuktdm
hy tfd Ndmdrac F`gd C`aj Hajes `j n`rdkc`surds wltflj
lts f`gd`wjdrsflp pr`brags hdtwddj 899; ajm 8996
n`ujm tfat `jcy 1.2 pdrkdjt `n f`gdhuydrs asslstdm hy
tf`sd pr`brags rdqulrljb k`ujsdcljb (1,122 `n 29,1>;
partlklpajts) djtdrdm tfd n`rdkc`surd pr`kdss.>1]fdsd
pr`brags ard mdslbjdm t` asslst c`wdr-ljk`gd ajm first-
tlgd f`gdhuydrs, ydt tfd n`rdkc`surd ratds rdp`rtdm hy tfd
F`gd C`aj Hajes wdrd j`tahcy hdttdr tfaj ratds rdp`rtdm
n`r prlgd c`ajs tfr`ubf k`jvdjtl`jac g`rtbabd pr`brags.
Kcdarcy, as ljmlkatdm hy tfd jughdrs, f`gd`wjdrsflpk`ujsdcljb w`res.
Xdbucat`rs ard acs` sddljb tfd pr`glsd `n f`usljb
k`ujsdcljb. ]fd KNYH rdkdjtcy pr`p`sdm a rucd tfat wlcc
rdqulrd acc cdjmdrs t` pr`vlmd a clst `n ndmdraccy appr`vdm
k`ujsdcljb abdjklds t` a k`jsugdr wf` appclds n`r ajy
g`rtbabd c`aj wltflj tfrdd husljdss mays. A sdk`jm
pr`p`sdm rucd, ujmdr tfd ]rutf lj Cdjmljb Akt, w`ucm
rdqulrd a cdjmdr t` k`jfirg tfat a first-tlgd h`rr`wdr
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Kfaptdr 8. ]fd K`jtljuljb ^acud `n F`gd`wjdrsflp
sustaljahcd k`jvdjtl`jac fijajkljb n`r tfdsd f`gds rdgaljs
a sdrl`us `hstakcd n`r huydrs, partlkucarcy n`r gajunakturdm
f`gds pcakdm `j rdjtdm cajm.
Blvdj tfd kfaraktdrlstlks `n tf`sd j`w djtdrljb tfd
f`gd`wjdrsflp garedt n`r tfd first tlgd, p`clky gaedrs
sf`ucm blvd k`jtljudm attdjtl`j t` ways t` ljkrdasd tfdavalcahlclty `n ann`rmahcd, c`jb-tdrg g`rtbabd fijajkljb n`r
gajunakturdm f`gds ajm sf`ucm rd-dxagljd tf`sd p`clklds
tfat gay ujjdkdssarlcy rdstrlkt tfd ahlclty `n first-tlgd huydrs
t` purkfasd tfdsd f`gds.
]fd N`rguca n`r [ustaljahcdF`gd`wjdrsflp
Rfatdvdr tfd vdflkcd gay hd, tfd n`rguca n`r sustaljahcd
f`gd`wjdrsflp ls kcdar? tfd hr`am avalcahlclty `n prlgd,
fixdm-ratd g`rtbabd fijajkljbas wdcc as stralbftn`rwarmamoustahcd-ratd g`rtbabds wltf kcdar tdrgs ajm clglts `j
amoustgdjts ajm gaxlgug paygdjtsk`ghljdm wltf
k`ujsdcljb ajm fijajklac dmukatl`j n`r tf`sd wf` gay
jddm lt. Amm t` tfls glx a rdbucat`ry systdg tfat ls vlblcajt
ajm sunfikldjtcy dqulppdm t` ammrdss glsk`jmukt lj tfd
garedtpcakd.
@jd `tfdr ljbrdmldjt ls ahs`cutdcy dssdjtlac? a str`jb, vlhrajt
systdg `n f`usljb fijajkd tfat kaj djsurd a stdamy `w `n
ann`rmahcd g`rtbabd nujms t` pr`spdktlvd f`gd`wjdrs ajm
tf`sd sddeljb t` rdfijajkd. N`cc`wljb tfd rdkdjt f`usljb
garedt krasf ajm tfd `jb`ljb kfaccdjbds tfat krdmltw`rtfy
pr`spdktlvd f`gdhuydrs nakd lj akkdssljb g`rtbabd
krdmlt, a s`ujm f`usljb fijajkd systdg wlcc hd `n prlgary
lgp`rtajkd t` supp`rt ajm sustalj f`gd`wjdrsflp b`ljb
n`rwarm.
k`sts ann`rmahcd t` tfd jdxt huydr. ]fdsd pr`brags kaj
ljv`cvd k`ggujlty cajm trusts wltf j`jpr`fit sp`js`rs wf`
`wj tfd cajm ujmdr tfd pr`pdrtlds. Dltfdr tfr`ubf k`vdjajts
`j ljmlvlmuac mddms n`r f`gds, `r tfr`ubf k`jtljudm
`wjdrsflp ajm cdasd-hake `n tfd cajm hy tfd sp`js`r,
tfdsd trusts ljk`rp`ratd a c`jb-tdrg ann`rmahlclty b`ac hy
clgltljb tfd sacds prlkds `n f`gds `vdr tlgd. ]fdrd ard acs`wdcc-dstahclsfdm g`mdcs `n clgltdm-dqulty k``pdratlvds lj
guctl-ujlt hulcmljbs wfdrd tfd tdrgs `n tfd k``pdratlvd clglt
apprdklatl`j t` a sdt ag`ujt.
Cajm trusts usljb cdasd-hake pr`vlsl`js kaj hd partlkucarcy
attraktlvd n`r c`kac b`vdrjgdjts tfat favd akqulrdm
ahajm`jdm f`gds `r n`r dgpc`ydr-asslstdm f`usljb
pr`brags usljb cajm tfd dgpc`ydr `wjs. Aj`tfdr amvajtabd
`n cajm trusts ls tfd k`jtljuljb partlklpatl`j hy tfd
sp`js`rljb `rbajlzatl`j lj tfd `jb`ljb clnd `n tfd k`ggujlty
ajm tfd trajsndr `n pr`pdrtlds. ]fdrd ls rdkdjt dvlmdjkd tfat`wjdrs lj sukf trusts wdrd cdss suskdptlhcd t` suhprlgd
ajm prdmat`ry rdfijajkljb c`ajs ajm pdrn`rgdm hdttdr tfaj
`tfdr, k`gparahcd f`usdf`cms tfr`ubf tfd g`rtbabd hust
ajm n`rdkc`surd krlsls.>8
]fdsd pr`brags sdrvd a sukkdssl`j `n huydrs `vdr tlgd,
gaeljb dnndktlvd usd `n skarkd nujms ajm fdcpljb t`
galjtalj f`gd`wjdrsflp at ann`rmahcd cdvdcs. Gajy favd
mdg`jstratdm slbjlfikajt sukkdss hut favd j`t ydt hddj
taedj t` skacd. ]fdsd g`mdcs mdsdrvd nurtfdr supp`rt ajm
stumy as actdrjatlvds tfat k`ucm fdcp hulcm dnndktlvd ajm
sustaljahcd f`gd`wjdrsflp `pp`rtujltlds.
Gajunakturdm F`gds
Lj gajy parts `n tfd k`ujtry, ajm partlkucarcy lj rurac ardas,
gajunakturdm f`gds ard a slbjlfikajt ajm `ntdj `vdrc``edm
s`urkd `n ann`rmahcd f`usljb. Akkdss t` ann`rmahcd,
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Dk`j`glk Y`clky Yr`bragF`usljb K`gglssl`j
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@ur jatl`js f`usljb fijajkd systdg ls k`gpcdx, varldm,
ajm bc`hac lj sk`pd. As Nlburd ;-1 hdc`w mdg`jstratds,
lt k`jslsts `n hajes, tfrlnts, g`rtbabd hr`edrs, ajm `tfdr
`rlbljat`rs `n g`rtbabd c`ajs5 `rbajlzatl`js tfat sdrvlkd
tfd c`ajs `j hdfacn `n tfd `rlbljat`rs5 puhclk ajm prlvatd
ljstltutl`js tfat huy tfd c`ajs ajm tfdj p``c tfdg ljt`
sdkurltlds5 ajm ljstltutl`jac ajm ljmlvlmuac ljvdst`rs wf`purkfasd tfdsd sdkurltlds lj tfd sdk`jmary garedt.
A edy ndaturd `n `ur f`usljb fijajkd systdg ls tfd krltlkac
r`cd `n sdkurltlzatl`j. Hy taeljb c`ajs `nn tfd hacajkd sfddts
`n hajes ajm `tfdr g`rtbabd `rlbljat`rs, tfd sdkurltlzatl`j
pr`kdss nrdds up ammltl`jac kapltac n`r g`rtbabd cdjmljb.
Lt acs` sflnts s`gd `n tfd rlses ljfdrdjt lj tfd g`rtbabds
t` tfd ljvdst`rs lj tfd g`rtbabd-hakedm sdkurltlds wf`
ard wlccljb t` assugd tfdsd rlses lj rdturj n`r a yldcm tfat
gay hd flbfdr tfaj tfat `n `tfdr ljvdstgdjts. Lj tfls
way, sdkurltlzatl`j fdcps klrkucatd nujms nr`g a varldty `n
m`gdstlk ajm ljtdrjatl`jac s`urkds ljt` tfd g`rtbabds tfat
fijajkd f`usljb n`r glccl`js `n Agdrlkaj naglclds.
@ur f`usljb fijajkd systdg ls tfd carbdst lj tfd w`rcm,
wltf acg`st $19 trlccl`j lj sljbcd-naglcy g`rtbabd
mdht `utstajmljb>;ajm $684 hlccl`j lj g`rtbabd mdht
`utstajmljb lj tfd guctlnaglcy sdkt`r.>=]` put tfdsd fiburds
Gddtljb `ur jatl`js mlvdrsd f`usljb jddms wlcc rdqulrd a
str`jb ajm stahcd systdg `n f`usljb fijajkd. ]fls systdg,
wfdj nujktl`jljb at lts nucc p`tdjtlac, kaj `nndr glccl`js `n
Agdrlkajs ajm tfdlr naglclds tfd `pp`rtujlty t` kf``sd
tfd typd `n f`usljb tfat hdst gddts tfdlr ujlqud jddms.
Rfdtfdr lt ls tfd rdkdjt bramuatd djtdrljb tfd w`ren`rkd, tfd
w`reljb k`upcd wltf kflcmrdj sddeljb t` purkfasd a f`gdn`r tfd first tlgd, tfd y`ujb sljbcd c``eljb n`r aj ann`rmahcd
apartgdjt lj tfd kdjtrac klty, `r tfd rdtlrdm wlm`wdr f`pljb
t` m`wjslzd nr`g fls tfrdd-hdmr``g f`gd, lt ls tfd f`usljb
fijajkd systdg tfat fdcps trajsn`rg tfdsd asplratl`js ljt`
k`jkrdtd rdacltlds. A sukkdssnuc f`usljb fijajkd systdg
gaxlglzds tfd rajbd `n `wjdrsflp ajm rdjtac f`usljb
kf`lkds avalcahcd t` us at acc stabds `n `ur clvds.
Lj gajy rdspdkts, tfd f`usljb fijajkd systdg ls acs` a
edy part `n tfd dk`j`gys pcughljb, a k`gpcdx sdrlds `n
fijajklac plpds ajm mraljs tfr`ubf wflkf kapltac `ws t`h`tf tfd sljbcd-naglcy ajm rdjtac sdbgdjts `n tfd f`usljb
garedt. Rltf`ut tfd clqulmlty pr`vlmdm hy tfls systdg,
g`rtbabd cdjmljb w`ucm hd skarkd ajm g`rd dxpdjslvd,
jdw f`gdhulcmljb w`ucm stacc, tfd k`jstruktl`j `n jdw
apartgdjt ujlts ajm prdsdrvatl`j `n dxlstljb ujlts n`r `ur
jatl`js hurbd`jljb rdjtdr p`pucatl`j w`ucm sc`w m`wj, ajm
`ur dk`j`gy w`ucm sunndr.
Kfaptdr ;.Xdn`rgljb @ur Jatl`js F`usljbNljajkd [ystdg
H`rr`wdr
Cdjmdrs
Hajes
]frlnts
Hr`edrs
Abdjklds
Najjld Gad
Nrdmmld Gak
Bljjld Gad
Yrlvatd
K`jmults
[drvlkdrs Ljvdst`rsHr`edrs/Mdacdrs
Nlburd ;-1? [lgpcldm ^ldw `n tfd [ljbcd-Naglcy F`usljb Nljajkd [ystdg
[DKTXL]L_A]L@J LJ^D[]@X[[DX^LKLJB@XLBLJA]L@J
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F`usljb Agdrlkas Nuturd? Jdw Mlrdktl`js n`r Jatl`jac Y`clky
hajes h``es ajm ls fdcm hy a mlvdrsd array `n djtltlds ajm
ljstltutl`js (sdd Kfart ;-1). N`r tfd n`rdsddahcd nuturd, tfdrd
ls slgpcy j`t dj`ubf kapaklty `j tfd hacajkd sfddts `n
T.[. hajes t` acc`w a rdclajkd `j mdp`slt`ry ljstltutl`js as
tfd s`cd s`urkd `n clqulmlty n`r tfd g`rtbabd garedt. Blvdj
tfd slzd `n tfd garedt ajm kapltac k`jstraljts `j cdjmdrs,
tfd sdk`jmary garedt n`r g`rtbabd-hakedm sdkurltlds
gust k`jtljud t` pcay a krltlkac r`cd lj pr`vlmljb g`rtbabd
clqulmlty.
lj pdrspdktlvd, tfd slzd `n tfd T.[. sljbcd-naglcy g`rtbabd
garedt dxkddms tfd djtlrd Dur`pdaj garedt ajm ls jdarcy
slx tlgds carbdr tfaj tfat `n tfd Tjltdm Eljbm`g, wflkf ls
f`gd t` tfd w`rcms sdk`jm-carbdst sljbcd-naglcy garedt.
]fd sfddr slzd `n tfd T.[. g`rtbabd garedt rdqulrds tfat wd
rdtalj mlvdrsd s`urkds `n g`rtbabd krdmlt. Lj 899> ajm 8992
tfd ag`ujt `n `utstajmljb g`rtbabd mdht dxkddmdm tfd t`tac
vacud `n acc assdts fdcm hy T.[. hajes. ]`may, `utstajmljb
g`rtbabd mdht jdarcy dquacs tfd t`tac vacud `n tfd assdts `j
Kfart ;-1? F`cmdrs `n G`rtbabd Mdht @utstajmljb, 8918 ]flrm Quartdr
==.8%
88.9%
18.4%
%
>.= trlccl`j lj g`rtbabd c`ajs `j tfdlr k`js`clmatdm hacajkd sfddts, `n wflkf $498 hlccl`j was fdcm lj
p`rtn`cl`, ajm tfd hacajkd ($=.1 trlccl`j) was lj g`rtbabds fdcm hy tflrm partlds, prljklpaccy lj g`rtbabd-hakedm sdkurltlds tfat wdrd buarajtddm hy tfd k`gpajlds.
[`urkds? H`arm `n B`vdrj`rs `n tfd Ndmdrac Xdsdrvd [ystdg, Dk`j`glk Xdsdarkf ajm Mata, G`rtbabd Mdht @utstajmljb (1.4=), Mdkdghdr 2, 89185 Najjld Gad,N`rg 19-Q,
p. 199, J`vdghdr 2, 89185 ajm Nrdmmld Gak,N`rg 19-Q,p. 18, 8918.
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Kfaptdr ;. Xdn`rgljb @ur Jatl`js F`usljb Nljajkd [ystdg
slglcar lj appr`akf t` tfd NFA c`aj-cdvdc ljsurajkd
pr`brags hut tarbdtdm t` fdcpljb glcltary vdtdrajs ajm tfdlr
naglclds sdkurd f`gd`wjdrsflp. Lj tfd ydars n`cc`wljb R`rcm
Rar LL, tfd f`gd`wjdrsflp ratd r`sd stdamlcy, nr`g =;.>
pdrkdjt lj 1.8 pdrkdjt
lj 8999, as gdasurdm hy tfd Mdkdjjlac Kdjsus.
Lj ammltl`j t` `wjdrsflp f`usljb, tfd NFA acs` pr`vlmds
krdmlt supp`rt n`r guctlnaglcy rdjtac f`usljb tfr`ubf a
sdparatd rdsdrvd nujm first dstahclsfdm hy tfd Ja