Questions from Chief Justice Roberts and Justices Kavanaugh and Gorsuch
revisit unresolved issues from 2017-2020.
Showing posts with label CAG. Show all posts
Now the Indians Want to Send their Prime Minister to The Tihar Jail.
The Indian education system has
miserably failed to create a new generation of ‘thinking’ and discerning minds
to control the finger tips on the keyboards which deliver a variety of services
to the rest of the world.
Instead millions of Indian youth,
with ready access to the cyber world, whip up thoughtless and highly damaging
frenzy, like the twitter
trend ‘#coalgate’ created yesterday on a leaked report alleging Prime Minister
Man Mohan Singh of presiding over a scam
of $ 211 Billion involving sale of Indian coal mines to private companies.
What is more mind boggling than the penchant of theCAG ( Comptroller and Auditor General ) of India to project assumed losses of astronomical sums to the government on account of corruption, is the willingness of millions of ‘educated’ Indians, on whom the west happily outsource everything, to jump in to ridiculous conclusions and create a frenzy like 'coalgate'.
What is more mind boggling than the penchant of the
1.3 billion Indians who live in India
are a species apart on the surface of this earth which can’t see where the
petrol is coming from because it refuses to see what happens worldwide in the
supply of petrol. The average Indian believes government subsidy is the birth
right of every Indian. If you are generous, you can attribute this to a lack of
education which gives an overview of the world they live in and share with
others.
But for millions of educated
Indians, who share the information revolution and the cyberspace with the rest
of the world, there is no excuse to realise and accept that there is nothing
called a free meal.
For example, conceding that
corrupt practices were resorted to in execution, the Prime Minister had already
explained why and how the 2G spectrum was liberally distributed, as a
Government policy, to encourage the telecom Industry.
This has seen India’s subscriber
population exploding to a massive 700 million in a few years, who enjoy the
lowest of rates anywhere in the world, thanks to the $39 billion it didn’t
amass as licence fees, which would have been passed on to the consumers.
In fact what the Indian consumer
has benefited from is an indirect and unspoken subsidy of call charges
equivalent to the same amount, if they were to be compared with the rest of the
world. Whether the western investors would have rushed to India
to invest that kind of money in licence fees is a different matter.
The new report of the CAG
with accusation of loss of $211 billion to the government, which has been
leaked and subsequently refuted
by the CAG , arises from a government action
indented to stimulate the mining Industry.
The government and several
Industry leaders have already pointed out why the CAG ’s
conclusions are baseless.
"Many
of the blocks are uneconomic, you have to share between two or three parties
and most of these blocks have hardly been explored at all. So remember, you
would have to spend hundreds of millions of dollars in exploration, development
and infrastructure to exploit them," he said. "I think it will be
forgotten quickly."
With the furore created over the
issue, with heads of almost every leading Indian corporate from TATA to Arcelor
Mittal as well as the Prime Minister himself likely to get a summons from the
supreme court and possibly a term inside the infamous Tihar Jail already
hosting a few ministers, the Indian’s can forget not only the development of
the coal industry but any reform which should secure India’s legitimate
position among developed nations.
With the two corporate heads of
the $ 17 Billion Essar group already summoned by the Court in the fallout of
the 2G scam, similar action cannot be ruled out and the dust is not going to
settle despite any government attempt to brush away the aspersion cast by the
leaked report.
If that happens, only the
senseless politicians and thoughtless youth of India
are to be blamed.
Article first published as Now The Indians Want To Send Their Prime Minister To The Tihar Jail. on Technorati.
Article first published as Now The Indians Want To Send Their Prime Minister To The Tihar Jail. on Technorati.
Who Can Make The Rip Van Winkles of Global Economy Accountable?
The S & P’s faulty down grade of the US credit rating to +AA status, among other things, is attributed for the current world financial turmoil illustrated by the leading headlines of this week:
Stung by the first-ever downgrade to its
top-notch sovereign credit rating, the US has hit back at S & P,
saying that the rating agency's flawed analysis has put its own credibility and
integrity at risk.
S & P is not the lone Rip of the Global
Economy who creates turmoil by ill conceived and un substantiated adverse
remarks on nation’s economies. The Comptroller and Accountant General of India
has recently come out with reports claiming losses of
USD 39 billion to the government in lost licence revenue, which has been
misinterpreted by the Indian masses as government corruption of the same
amount, stalling India’s growth.
The question is why these agencies have
gone in to long slumber of inaction while things were definitely going astray
and why they have to get the figures and facts so wrong when they eventually
chose to proclaim their shocking revelations.
The crucial thing is, with the
globalisation, the damaging effects are no more limited to countries but the
whole world. With these watch dog agencies being allowed to act independently
or just constitutional set ups with out any answerability to anyone, time has
come to decide if they can be allowed to continue to function in the same way
or at least operate under guide lines to contain or limit the damage arising
out of sentiment erosion and confidence deficit caused around the world.
It is very consoling to see that stalwarts
of Capitalism like Warren Buffet have come forward to defend the US Economy,
despite the echoes of pessimism emanating from
Competing economies like China .
What is giving concern
though is the appalling lack of comprehension of the situation and the apathy
shown by the current bunch of leaders of the developed world, like may of the
EU nations who have chosen to enjoy their summer holidays without resolving
burning issues in Italy and Spain, which smacks of Nero’s playing of his fiddle
while Rome was burning.
The protracted congressional drama over
the credit limit, which appeared to be plain partisan electioneering for all
thinking people, which precipitated the current action by S & P has
demonstrated a similar apathy of the US leadership.
Can we afford to let our leaders to be Rip
Van Winkles in their elected positions? I guess the way the world markets will
react on Monday will decide.
Article first published as Who
Can Make The Rip Van Winkles of Global Economy Accountable? on Technorati.
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