Archive

Archive for October, 2011

Air India and Hydrocarbon losses – “Honest” PM Manmohan Singh

October 22, 2011 Leave a comment

“Honest” PM Moneymohan Singh in action yet again. For an economist, seems surprisingly ignorant of profit/loss economics when it comes to serving the CONgress party. But wait! Profit for the party and loss for the country!

On December 30, 2005, the United Progressive Alliance government moved uncharacteristically fast. Prime Minister Manmohan Singh concurred with a note sent by a select group of ministers on a commercial contract on the very day it reached his office.  Soon after, the aviation ministry under then minister Praful Patel informed the national carrier Air India about Singh’s decision. Air India promptly acted on it – all on the same day.

This contract was a Rs 33,197-crore deal Air India , signed with Boeing and General Electric to buy 50 planes. The sequence of events on that winter day is marked in red in a recent audit report of the aviation sector by the Comptroller and Auditor General, or CAG.

As it turned out, the plane acquisition deal triggered Air India’s nosedive. At the time of the deal, the airline was still in the black, with a net profit of Rs 96.3 crore on an income of Rs 7,630 crore in 2004/05. The airline had a Rs 1,801 crore balance sheet, of which debt was Rs 1,262 crore. Five years later in 2009/10, it would report a loss of Rs 5,552 crore – about twice the size of Sikkim’s economy – on an income of Rs 13,402 crore, along with a staggering debt of Rs 38,423 crore.

The single-day clearance is one of a number of dubious government decisions highlighted by the report. Similar revelations have also been made in another CAG report on the hydrocarbons sector. Both strongly criticise the government’s functioning, pointing out failures and systemic flaws in its processes.

http://businesstoday.intoday.in/story/cag-report-indicts-civil-aviation-and-hydrocarbons-sectors/1/18990.html

Know your P. Chidambaram

October 15, 2011 Leave a comment

PC or P.Chidambaram honble home minister is a multi-faceted man. A quick glance through his impressive dossier:

1. In the 1980s, attempted to impose shackles on the press, through getting legislation passed that was drafted by him, then a junior minister – says M.D Nalapat (fomer advisor to PM Narasimha Rao) – Controlling an already tamed media.

2. Pioneered the art of converting black money to white – says Jethmalani – Chidambaram, Friend, Father and  Philosopher of black money

2. Criticized in parliament and Forced out Raju Narisetty editor of The Mint for publishing an IAS officer’s piece which was critical of the MMS govt on its inept handling of terror.

3. Got elected to parliament by an election which was very likely rigged — PC Poll Plea thrown out

4. Played a central role in the 2G scam.

5. Appointing and dismissing SEBI chairmen on personal whim and fancy – Regulation – Appointments and Disappointments

6. Allowed fraudulent Vodafone-Hutchinson deal of 14000 crores to go through.

Categories: Congress Party, UPA Tags: , ,

Arnab Goswami’s art of Sangh baiting

October 13, 2011 Leave a comment

Arnab Goswami’s panel to discuss the Prashant Bhushan assault deliberately included two “village simpletons” — Bhim Singh of Panthers Party and Rakesh Sinha of the RSS, the kind that can be predictably relied upon to provide the incendiary material that the sophisticates cannot stomach. The rest are glib tongued “intellectuals”. Arnab knows the Bhim types will fall for the bait he has in store for them. Predictably falling for this bait, Bhim and Rakesh while criticizing the violence, also say that Prashant Bhushan has no right to ask for plebiscite in J&K. Arnab and fellow buddhijeevis tch, tch this “uncouth”, “violent” Sanghi behavior and suggest that by the secular law of associativity and by a neat jump in logic, Bhim is actually ok with this violence. Ergo, this is typical violent behavior from the Sangh and the root behind all this is BJP-RSS. Mission accomplished. No such super logic is used when Islamic terrorists blow up people on a regular basis to arrive at similar general inferences.

Bhim Singh and Rakesh Sinha could have turned this around to Arnab actually. Using the same jump in logic it could be argued that those who fail to criticize Prashant Bhushan for saying that Kashmir can be independent are actually ok with losing J&K. And by the same law of associativity these are anti-nationals who can be jailed for sedition.

Prashant Bhushan assaulted

October 12, 2011 Leave a comment

Prashant Bhushan was roughed up in his chambers supposedly by a youth of the Bhagat Singh Kranti Sena. Karmic retribution perhaps. While Prashant has been baiting nationalistic Indians recently with his vitriolic and anti-national views, the correct course of action for those who would like to respond to the likes of Prashant Bhushan is to make them answerable in a court of law. A hundred cases of sedition and treason, around the country,  making him ping pong from court to court would work wonders. Also quite ironic that a maoist sympathiser should be so rattled by a few slaps.

Prashant’s father Shanti Bhushan has in the past defended the Arundhati “Gandhians with Guns” Roy and also the notorious Teesta Setalvad. Like Arundhati Roy, Prashant Bhushan has been critical of supposed armed forces excess (asked for DNA profiling of unmarked graves) in Jammu and Kashmir. Prashant has not so much as blinked for the 350,000 Pandits languishing in refugee camps in his native Delhi but is hyper active with “liberal”  causes — which in the Indian context is about pandering to the lowest common denominator in other religions/political systems.

Recently this column pointed out that the BJP/RSS should dump team Anna which has the likes of Prashant on its rolls. In light of his latest statement on plebiscite in J&K, this looks like a no brainer now.

Prashant Bhushan says BJP/RSS is communal

October 10, 2011 Leave a comment

Prashant Bhushan made an outrageous statement on Arnab Goswami’s program on Times Now today by saying that they would welcome support from the BJP and RSS even though they were communal. Team Anna is basically a group of rabble rouse leftists — the kind if in power, would ensure that their ego-centric leftist ideologies trump development and progress with a myriad of “intellectual” arguments to back them up. If the likes of Prashant Bhushan ever had the opportunity to run this country they would ensure that the country remained poor and hooked to handouts from the World Bank/Ford Foundation. The Magsaysay award is indeed precisely reserved for such worthies. I would predict that if they start tasting success, this movement would begin to look like what we had seen with say V.P Singh — seemingly clean at the outset but would later degenerate to some bizarre anti-national cause (like the Mandal movement) of their liking.

The JP movement against the dictatorial Indira Gandhi succeeded only with the support of the RSS and the Jan Sangh. If the BJP has the slightest iota of self respect they should ask Prashant to apologize else leave him and his team of opinionated limelight seekers to grind to dust. Even if the BJP helps them out, they will be dumped in the end and there will not be even the hint of a bare nod of gratitude as is evident right now. Far from it, it is likely that the Lok Pal bodies will be loaded with the likes of Prashant Bhushan and Santosh Hegde which would happily hunt the toothless tigers like the BJP down and bask in the limelight. Team Anna does not have the vertebrate strength to simply appreciate fundamental good from wherever it may come but constantly seeks to further their pet causes while pandering to pop political correctness (like the “communal BJP” view) no matter how absurd their basis. Team Anna better clarify what their view of the BJP/RSS really is before it can be lent support by the BJP. But given the lack of realpolitik on the part of the B JP leadership at the center I think the BJP will be used and flushed by the likes of Team Anna.