MEMBERS OF M COMPANY
Sign in

MEMBERS OF M COMPANY

D Company refers to those who are close to underworld don Dawood Ibrahim. K Company was an euphemism for those who abetted Ketan Parikh in his heydays. The M company is those who are members of various councils that have been formed to assit our economist Prime Minister and some of his long term buddies from his world bank days. We have here Kausik Basu, the Chief economic advisor to PM as if the PM who is a celebrated economist of his own needs constant advices on how to tackle our Indian Economy. This man put on the ministry's website that speed money, an eupemism for bribes doled out by the upper elite middle class to babus to get things done be legalised and the bribe giver accorded the status of whistle blower. This idea found takers from angels of free enterprise who preach about morals like Narayanamurthy. When a furore erupted, he was unapologetic for having breeded corruption in the first place. This went unnoticed in the crusaders battle against corruption led by Arvind Kejriwal, the whiz kid and marketing genius of Anna Hazare- the iconic mascot of anti corruption movement.

Then we have the former RBI Governor Rangarajan who questions the decision of universal PDS and also voices concern on the truncated Food security bill aimed at minimising the subsidy bill. If you do not have enough money you may exit all business by a suitable divestment policy and create resources to feed our people rather to bridge budgetory deficits.

The leader of the pack is undoubtedly Dr.Montek Singh Ahuluwalia, Dy.Chairman of Planning Commision,. True his definition of BPL as those who are unable to live under Rs.32 per capita consumption was infact true when the calculations yield ahousehold income of some 5000 INR for a family of 6 but he faced flaks from even SC. The affidavit was withdrawn for it was perceived to be inhuman. He was the one who advocated that no criminal liability should be vested with Du Pont Chemicals the present owners of Union Carbide. When a company is sold it is sold in as is where is conditon and the buyers need to take the liabilities as well both stated and contingent. If a windfall were to accrue, will the present owners disown them?

Much was made about UMPP Ultra Mega power plants which were auctioned on the basis of power purchase price. NTPC which owns 60% of our thermal power generating capacity  quoted Rs. 2.30 per KWH and Lanco quoted Rs.2.10 and Reliance Power Rs.2.20. Lanco got the award for UMPP at Madhyapradesh which was later awarded to Reliance as the second lowest bidder. Reliance was yet to supply a single unit of thermal power to national grid. Now the plant is running behind schedule. CIL is not able to deliver coal to all existing players and the coal imports have become costly due to depreciating currency. Dr.Ahuluwalia has stated that due to escalation in costs, the new power plants must be allowed to hike the price of power to marginalise impact. What a crooked way of robbing the exchequer. This happened in telecom also. All Telcos bid for heavens when private players were allowed to bid and later managed to cancel licencing regime and migrate to revenue sharing after paying kickbacks to powers that be. Dr. Singh advocates such an approach yet again. Any project should have factored in such variables before a price if offered. Just to outdo NTPC, Reliance power gives a figure bags contract and then its sympathisers within the Government lobby for aids. Where is the money to bail out private sector I would like to ask this think tank

Judging by the Company he keeps, our PM is definitely not pro poor if not anti poor.

start_blog_img