CRONYISM IN INDIA
Calcutta HC bars publication, sharing of video on PM Modi, Gautam Adani till Jan 31
The Calcutta High Court has issued an injunction against a documentary involving Prime Minister Narendra Modi and Gautam Adani. This order prohibits publication, sharing, and re-uploading of the video until January 31 next year. Justice Aryak Dutt mandated social media platforms to remove access to the video and related content. The Adani Group argued that the video contains false and defamatory statements against them.
So, who's a crony capitalist? India favours state support for national champions, not the patronage-driven inept
Misconceptions abound when it comes to crony capitalists. Their fortunes are not merely a product of their proximity to those in power, but also of the systematic privileges they enjoy. In India, the political and economic framework tends to uplift favored businesses, fostering a climate of growth. Yet, it is the active engagement of the populace that can curb cronyism.
From Colombia, Rahul Gandhi hails Bajaj, Hero, TVS as proof Indian companies thrive on innovation not cronyism
During his Colombia visit, Rahul Gandhi praised Indian two-wheeler companies Bajaj, Hero, and TVS for their success, attributing it to innovation over cronyism. He later warned that an "attack on democracy" poses India's biggest risk, stressing the importance of a democratic system to accommodate the nation's diverse traditions and languages.
'Brutal tool of economic injustice, corporate cronyism': Rahul Gandhi slams GST, calls for reform
Congress leader Rahul Gandhi criticized the Goods and Services Tax (GST) on its eighth anniversary, calling it a tool of "corporate cronyism" that hurts the poor and MSMEs. He claimed the GST favors big corporations, burdens small businesses with compliance issues, and is used to punish non-BJP ruled states.
Modi govt's Sovereign Gold Bond Scheme proven to be 'complete fiasco': Congress
The Congress has criticized the Modi government, claiming the Sovereign Gold Bond Scheme has been a failure, increasing the government’s liabilities significantly. This follows similar issues seen with demonetisation and the 'Make in India' initiative. The party argues for a shift in economic focus to support common people.
'Sheer desperation': Congress slams FM Sitharaman for criticising Opposition over foreign investments
Finance Minister Nirmala Sitharaman suggested that Congress propaganda is hindering private investment in India. Congress leader Jairam Ramesh countered by attributing sluggish investment to poor policy decisions, cronyism, and enforcement actions under the current government. Sitharaman had warned that these issues are contributing to instability and making the country appear less attractive to foreign investors.
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Modi govt 'systematically bludgeoned' MSMEs through deliberate policy, wilful neglect: Congress
The Congress has criticized the Modi government for its alleged detrimental impact on MSMEs over the past decade. Key issues highlighted include demonetization, GST challenges, and oligopolisation. The Congress has proposed measures such as NPA extension and GST 2.0 to support MSMEs. The Budget presentation is scheduled for July 23.
PM Modi's systematic bludgeoning of MSMEs has been economic catastrophe: Congress
The Congress accused the government of harming MSMEs and the economy, citing a report by India Ratings. They blamed PM Modi for the negative impact of demonetisation, GST, and the lockdown. The report showed a decline in the unorganised sector, job losses, and reduced manufacturing jobs. The Congress proposed solutions to revive the informal sector and criticized the government's policies.
'Cronyism' is Modi govt's primary economic policy: Congress
The Congress party criticised the Modi government for fostering cronyism, citing a media report showing increased market concentration in key industries under PM Modi's watch. Congress general secretary Jairam Ramesh highlighted concerns about oligopolies and monopolies emerging, urging fair competition and preventing undue advantage linked to political power.
UPA's 10 years lost decade of corruption, cronyism; PM Modi rebuilt economy: BJP
The BJP criticized the UPA's 10-year tenure as a "lost decade of corruption and cronyism," contrasting it with Prime Minister Narendra Modi's "politics of performance," which they claim has propelled India to become the world's fastest-growing economy.
Majority of private companies do not have adequate risk management function, says study
Over 67% of Indian private firms lack a sufficient risk management function and more than half do not possess formal risk management processes, according to a report by risk advisory firm MGC Global. A survey aimed at around 60,000 management and board-level professionals in a range of sectors found approximately 38% of public firms also had inadequate risk management practices.
View: An inward-looking India could quickly slide towards closed-mindedness, cronyism and mediocrity
Though the PM clarified that his call for self-reliance should not be mistaken for “self-centric arrangements”, this is cold comfort for those who remember the suffocating drabness of pre-liberalisation India.
Congress' charge against Arun Jaitley motivated: Nirmala Sitharaman
Jaitley, she noted, had already explained as to how Mallya misused his privilege as a member of Parliament to speak to him.
Does suited-booted sound more corrupt than khadi-Gandhi cap?
Who's more corrupt — the suited-booted or the khadi gang? The answer is there for everyone to see.
View: Fix the flaws in public sector bank regulation
When a crisis is systemic, and the financial system freezes, the bailout hits the taxpayer whether the problem is caused by public or private banks.
View: The plane truth about Rafale deal is so hard to see?
The final price per plane could not be under $212 million... Yet, the media reported the official dogma of 126 planes for $10.4 billion: Author
Is Modi momentum slowing down? Crony spiritualism and a depressed economy could impede Mission 350
Should the economic rebound not happen by next year, merely weeding out corruption will be seen as inadequate and an intangible goal to win elections.
We must harness markets, instead of blocking their operation
The reality is that no nation in modern times has successfully bucked market forces to achieve affluence for its people.
BJP meet hails Modi government's rural tilt
The rural theme of the Union Budget was the highlight of the economic resolution passed on the first day of the two-day BJP National Executive meeting today.
Little sign of Modi cronyism in stock market trends
The crony theory collapses if we look at Reliance Industries whose share price has risen just 1% since the start of 2014.
Little sign of Modi cronyism in stock market trends
When Modi was elected on May 15 last year, the Sensex was at 27,159. Today , it is up only marginally, at 27,957.So much for the supposed Modi sell-out to business!
Scams in UPA government weren’t the failure of Manmohan Singh only: Vinod Rai
Vinod Rai, in his book, calls for strong actions to break paradigm of nepotism & cronyism that has crept into India’s governance over past decade.
Corruption? Protection rackets more than crony capitalism
Critics say economic liberalization has enriched only cronies through monopoly profits from political allocations of land, minerals and spectrum.
Why India needs to shun crony capitalism
As India evolves and acquires institutional maturity, it is imperative to shed cronyism from the process of selecting those to accord state support.
Reform political funding to cure crony capitalism
Once funding becomes transparent, cronyism will be difficult. India has the means to do this, if only the political will can be mustered.
India Inc rallies against political witch hunt
The FIR filed against one of the top businessmen in the country, the petroleum minister and others has rattled India Inc.
Need for foreign investment: Why Russia can afford crony capitalism, but India can't
Vladimir Putin can afford to keep the charade of the economy going because Russia is big and rich enough in natural resources. Indian leaders can't.
Small businesses in India badly bruised by policy clutter and crony capitalism
This is in stark contrast with the West: in Germany, the mid-cap index is up 33%, in London by 35% and in New York, small caps are up 31%.
BCCI politics similar to national politics
What we are witnessing in the BCCI today is but an extension of a wider culture that permeates our society: a culture of cronyism.
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