More ranting from this Commie though he is right on the endemic crony capitalism bit, which has benefited a few business houses only.
Being an unrepentant Commie, his championing of state control of the economy is only natural but that destructive system was an utter and total failure on every front and has been dumped by every country which tried it. Only India seems bent to soldiering-on with this destructive Commie system foisted on it by the self-aggrandizing incompetent idiot Nejru.
At the end of the day, only MMS and a few persons understand that most of the coal and power sectors will be dominated by the Pvt Sector in the long run. Coal India has reached the end of its capabilities and the Pvt sector will have to play a big role in coal mining and power generation.
If coal mines are auctioned, how on earth will the end user power prices be kept in check ?
None of our activists have been able to answer that.
Of course we need more detailed explanation from the Ministry about how they justify an allotment, without taking away their right to make or change allotment decisions.
This is one of the best article I have read in recent years on the travails of Indian economic policy making. It exposes UPA government and also warns of the mega corruption which is likley to come if Shri Modi continues with his Gujarat model of industrialization by subsidizing big business.
The defect which Mr. Bidwai suggests by quoting Atul Kohli about being business led, not market led, is unfortunately true. His remedy of greater state control over ownership is not a real solution. Market economy needs state regulation, not state ownership.
This incisive analysis of Mr. Bidwai once again confirms the need for a strong left of center polity to ensure that political consensus can be built only around market led approaches. BJP, which gives disproportionate power to Shri Modi may not be able to center policy making within its intra-party apparatus. Congress, with its dynastic override has been able to center it's policy making despite impressive left of center legacy.
The checks and balances have to come from elsewhere. The 80 years of underground burning of coal fields is an apt metaphor of frittering away and lost opportunities.
Re: 80 years of burning Jharia coal fields is an apt metaphor
by Ramesh on Oct 26, 2013 07:30 AM
Congress , with its dynastic override,has not been able to center is policy,
Re: 80 years of burning Jharia coal fields is an apt metaphor
by Ramesh on Oct 26, 2013 07:40 AM
Western observers who desire market led economy, which shall be amenable to MNC investments and thereby accelerate Indian growth rate considerably, perhaps already realize that dynastic free Congress, with a left of center bias, the kind MMS and Prof Sen would be comfortable with really works.
Re: 80 years of burning Jharia coal fields is an apt metaphor
by arungopal agarwal on Oct 26, 2013 12:53 PM
Our financial position has come to insolvency level due to heavy burden of subsidies and DA linked salaries, pension and perqs. of govt. servants which eats every penny of tax payers, whatever is left goes to pay interest burden. What is left then?
Re: Re: 80 years of burning Jharia coal fields is an apt metaphor
by Ramesh on Oct 26, 2013 07:28 PM
Arun Gopal,
Due to policy impasse Indian coal production was scaled down and there have been large scale imports. The losses in terms of opportunity costs, real import burden, and interest plus depreciation expenses incurred on electrical power infrastructure are colossal. This is the real burn.
Government employees in India, by global standards are mostly underpaid and live substandard economic lives compared to their counterpart even in Indonesia, Turkey, Philippines, etc. I sincerely believe that Indian government services are pretty good, and so is the overall performance of Indian political leaders.
The trouble lies in systemic issues, difficulties in reconciling contradictory pulls and pressures. It is better to think positively, in a solution finding mode.
Re: Re: Re: 80 years of burning Jharia coal fields is an apt meta
by Ramesh on Oct 26, 2013 07:33 PM
Land, water resources, mining rights, all these India commons need to allocated to business as per a fair and competitive mechanism with global participation to maximize resources generation.
India commons consumed by individual citizens need policies which make those utilities affordable to the them, while allowing for investment to improve quality of service offer.
Re: Re: Re: Re: 80 years of burning Jharia coal fields is an apt
by Ramesh on Oct 26, 2013 07:36 PM
Only by making Indian common allocation competitive can its efficient utilization using best technology available be ensure. This built in efficiency criteria has better probability to reduce the real price of offer in the long run.
the AUTHOR has to SPELL it as who are the benefactors? of this deal? None other than SONIA, son and daughter and SUNinLOW who are hellbound on LOOOOOTING this nation.
To decide whether they need development or vote bank politics, land cannot be increased, only industrial growth can provide better living and earnings, somehow a lot of politics always played by politicians to malign industry and disturb the locals, this has slowed the process of fast development. Birla is neither a politicians not a govt. servant, to book him by CBI is one again a politics and against any humanity. This will demoralise the industry as well as sends wrong signal to all well thinking people.
