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“In India, companies may fall sick, but promoters rarely do!”

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November 17, 2010

UPA…Coalition Government…Coalition Corruption….but what’s the alternative!?

INDIA is outraged at this continuing scale of Corruption

As India’s GDP grows past US $ 1.4 trillion,so does the Corruption scale in tandem….the CAG Report just tabled in Parliament notes that the Loss to the National Exchequer in the 2G Spectrum Sale was a whopping Rs 176645 lakh crores if one considers the 3G realisations this year….that’s close to US $ 40 Billion !….that’s nearly 3% of our GDP !….would have taken care of half our Fiscal Deficit !

UPA Government lead by Congress with it’s Political allies for now…notably and yet DMK from Tamil Nadu,whose A Raja was the Telecom Minster who is alleged to have caused this Loss….they defend that this a presumptive loss…in that no real money has been lost !…but this money could,should and would have actually come to the Government and Public Domain from the Private Corporate Sector….the Telecom Minister deliberately contravened,tweaked,violated policy and procedures and even ignored  PMO’s advice and sold the 2G spectrum asset dirt cheap to favoured corporate groups….Swan (fronting Anil Ambani Group),Videcon,Unitech are some of the names …..surely some in the government were favoured in return…this is not presumptive ! …many of these groups were ineligible….many have yet to start their service even after nearly three years….and many quickly went on to sell equity stakes at five and ten times valuations based on the relatively meagre quantum of  2G Licensing fees paid…this too is not presumptive!    

Opposition party BJP wants a Joint Parliamentary Committtee (JPC) Probe…..JPC has never really been a successful tool….more of a whitewash…..more to protect from more skeletons coming out from the cupboard of all political parties…..MP’s across Political Parties cannot agree on the Floor of the Houses !…what will they concur with in a JPC !…you will get many dissent notes

Congress wants the due process to be followed of the CAG Report moving to the Public Accounts Committee (PAC)….but the PAC has no judicial authority…it merely reviews the CAG Report to check for appropriateness and completeness of conclusions backed by adequate supportings…it can merely delete or alter the wordings in the CAG report

INDIA wants the perpetrators to be pinpointed and punished fast….and be jailed

Our Supreme Court has even just questioned our Prime Minister,Manmohan Singh to explain his inaction in this 2G Scam and as to why A Raja was retained as Telecom Minister and not asked to step down much earlier….One of the Panelists on the TV spoke this of our PM ” He only listens to Uncle Sam and Sonia Ma’am !” read more

So why did US President Obama really come to India ?

So why did President Obama really come to India !?

USA is clearly in survival mode,hoping to move to revival mode in the years ahead

Their mantra for this is pretty clear cut and inevitable…they have little option

‘Borrow more and more from China and Invest in and Sell more and more to India !’

….The first is inevitable as USA has no monies to revive…….having lived beyond their means for years……so they need to print more and more notes and borrow more  and more….the second is that their 325 million people are a saturated market…and citizens have lost their purchasing power… to revive they need to invest and sell their goods on huge scales…and there is no better market in scale and growing prosperity than India’s 1.2 Billion people

….so Obama came to say “Open out India because I need to Open out Jobs back home in USA !”…he was refreshingly candid about this too

USA needs India to survive and revive…President Obama,himself, needs India to survive his faltering presidency….maybe he would be well advised to seek asylum here !….Obama loves Mahatma Gandhi and Michelle loves Indian Food…they’ll be closer to both….but I daresay and fear that if he joins Politics here and seeks to bring about change to bring back Probity in Public Life,he may change but not the System !

But does India need USA ?….well we actually do…for technologies and infrastructure boosts to lend support to our high GDP Growth rates envisaged of 9% + annually for decades ahead…..but we must not play second fiddle here and be bullied to open out our markets fully to USA…..they want us to Open out…they too need to Open out their markets….they have been actually doing just the reverse…closing out or putting hurdles on IT outsourcing,continuing to subsidise their farmers and dampening WTO Treaty Hopes

One more angle…geo-political….we live on a planet of near Seven Billion People…..roughly half living under a Communist or Religious Idealogy and the other half under a Democratic and Secular Ideology that breeds Capitalism and encourages and thrives on Entreprenuerships and Private Enterprise….so the World’s two largest Democracies of India and the USA are already idealogical partners….we need to partner vigorously to carry the Torch of Freedom and Human Rights on our Planet…..Simple in Idealogy…but Complex in Reality … we have created Weapons of Mass Destruction…..and also each Nation will first safeguard their own interests….and while doing so will compromise on those of other nations….26/11 is a great illustration of this….USA continues not to declare Pakistan a Terrorist State and impose sanctions on it…even though there is clear damning evidence of Terrorism breeding in Pakistan….on the contrary it provides monetary and defence support to this country….both of which are used against India….why does USA practice double standards here ?….it needs the support of the Pakistan Army in it’s Afghanistan forays post 9/11 to battle Al Qaeda,Taliban and Osama Bin Laaden….with China too supporting Pakistan and taunting India with regular incursions in Leh and Arunachal Pradesh,India faces severe geo political issues on it’s North,North East and West Borders   read more

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