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Of Harshad Mehta and how UPA can regain trust


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raman govindan
how nation can regain the morale!
by raman govindan on Feb 28, 2011 08:03 AM

corruption is tolerated if the corrupt one has good relationship with the powwers that be. the misdeeds are excused and the support extended to him on political sphere outweighs the other. it has been in existense right from the independence days. it has grown along with the economy and the loss opf morale of the civil servants.

until the civil servants are given their due space in the management of national affairs and economy and the politicians withdraw to legilative function, limits their powers to monitoring the civil servants and laying down policies the corruption will continue and will not abate.

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Ramesh
Abel and Cain
by Ramesh on Feb 26, 2011 06:16 PM  | Hide replies

When stock markets began booming due to machination of Late Harshad Mehta, many saw him as a hero and then Finance Minister MMS made a statement indicating this boom as success of his financial reforms.

The fact that the equity values were not reflective the real valuation of the firms were given a quiet slip, and the nefarious role played by few PSU banks in collusion with MNC banks simply ignored in early stages. Then these quick buck syndrome became too obvious to be ignored. MMS changed his tack only later and was literally pressured to reform in terms of SEBI, NSE etc..

This tendency to give primacy to output orientation over process orientation, it seems is a characteristic of MMS, but this is surely not undesirable. On 2G scam, he once again rightly stressed on market penetration from 7 percent to 60 plus percent. He also spoke of coalition constraints, as if prioritizing stability over legality. May be he subscribes to the samudra manthan model which implies the need for Rakshasas.

These growth models have not really served India well, specially when juxtaposed to performance of China. We need to be able to see the likes of Late Harshad Mehta not as hero not even ambivalently but only as Cain.

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Ramesh
Re: Abel and Cain
by Ramesh on Feb 26, 2011 06:46 PM
Current Finance Minister has enunciated that the menace of black money, a bane which mala-distributes money and demotivates higher growth rate, is to be fought legally.

This wisdom would make legality, a sub-component of process orientation, uncompromisable; while on other aspects output orientation could retain primacy.

This narrowing the gap between output and process orientation by making sub-components like legality, quality inviolate may help engender trust and higher growth rate. Making it a fair game is necessary not to only to ensure able wins, but more critically, over the time to raise the standard of the game itself.

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Vinita Punjabi
..
by Vinita Punjabi on Feb 26, 2011 05:58 PM

..

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Pele Lele
I have stopped
by Pele Lele on Feb 26, 2011 05:28 PM

writing comments on the rediff articles as they are not taken seriously by any one neither they are creating any awareness or generating response from the readers. So its wasting your own energy.

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hinduhitler
Re: Sagarika Ghose Case Study
by hinduhitler on Feb 26, 2011 05:41 PM
I know i have seen it, I agree, this lady is a communal and racist against Hindus and BJP, sangh pariwar.
And people like her are not going to change their stance till they are rendered powerless in their fields. I appeal to all comerades to stop watching NDTV and CNNIBN and their sister channels. Hindus should object to communal and racist attitude towards them and make MNC's aware that they are indirectly helping these communal channels by sponsoring them. Onces MNC know no one is watching these trash channels , sponsorship will also go.

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hinduhitler
Re: Re: Sagarika Ghose Case Study
by hinduhitler on Feb 26, 2011 05:44 PM
I forgot to add a word - RA anD

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Amaresh Dash
maa-beta
by Amaresh Dash on Feb 26, 2011 05:16 PM

mms;
if you don't get rid of maa-beta ; you are still be termed as puppet pm !

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veerapuram dharan
5 vs 50
by veerapuram dharan on Feb 26, 2011 05:15 PM

bjp ruled for 5 years. congress for 50..who would have done the most damage can be easily judged...like how the union carbide incident doesnt have any documentary evidence, all the past sins of congress would have already been burnt..even bofors also might see the same fate if the court, opposition and the public are not alert..

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fightagaintevils
mms
by fightagaintevils on Feb 26, 2011 05:15 PM

is holding seat sharing talks with 2g culprits

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