7 Reasons for India to withdraw financial support to tobacco industry

7 Reasons for India to withdraw financial support to tobacco industry

Tobacco industry continues to flourish despite various calls for ban related to the health hazards it possesses. We are being made aware of the deadly diseases smoking tobacco could cause with gory pictures of mouth cancer patients at the start of every movie. The package also contains a larger than expected picture that should have been enough to put one out of the habit only if they are half willing to let go of the addiction. Nicotine gums are being promoted to help people get off the craving. Higher taxes are being levied as anti-tobacco measure. The question is how these would prove to be efficient when government is financially supporting the tobacco industry? If the anti-tobacco movement is to be successful to even some satisfactory level, it must begin with withdrawal of financial support to the tobacco industry.

Here are the top 7 reasons why the government should withdraw its support to tobacco industry:

1. Tobacco kills

It is a proven fact that consumption of tobacco in any form leads to hazardous diseases. Cancer, one of the most commonly related diseases to tobacco is also one of the deadliest and one of the most expensive to treat amongst all other health issues.

2. Violating treaties

India continues to violate World Health Organization’s international treaty Framework Convention on Tobacco Control (FCTC) since our government entities are allowed to invest in tobacco firms and they keep doing that with absolutely no regret or chances of going back.

3. Agitating World Bank

Let us stay reminded that in May 2015 The World Bank exited a tax conference in New Delhi that was co-organized by a consortium of several transnational tobacco companies. Though The World Bank had earlier agreed upon financially and technically supporting the event, it later pulled out its support of any kind for the above cited reason. We definitely wouldn’t want that to happen again.

4. Because warnings and taxes aren’t enough

Higher taxes and dominating pictorial warning on the packages of tobacco products doesn’t seem to be bringing about any considerable decline in the consumption of tobacco products by those who are sincerely addicted to the usage of these products. It is about time that the government moves on to plan B which is leaving ITC alone to tackle finance.

5. Important government entities are shareholders

LIC, despite being an important state-run firm is the largest shareholder in ITC amid other government entities. LIC alone has 14.3% of share at ITC. A total 30% of shareholding in ITC is at the name of government entities including Specified Undertaking of Unit Trust (SUUTI), New Indian Assurance Company, General Insurance Corporation of India, Oriental Insurance Company and National Insurance Company.

6. Criticism

The linkage of Indian government entities with tobacco companies is indeed garnering bad name for India at the international fronts. Several global public health communities have strongly criticized the Indian government for not being sensitive to the effects of tobacco consumption for its citizens.

7. Health ministry is concerned

It seems that health ministry finally recovered from death like slumber and is worried about how financial help to tobacco industry could be helping them flourish and hence lead to deterioration of health of its citizens, youngsters especially who are stubborn enough to see the long term implications of tobacco consumption. We are hoping that finance ministry will listen to health ministry’s suggestion to withdraw support to tobacco industries.