Mr. Jagannathan makes a very interesting point here. The two guys at the helm of the economic boat of India, Manmohan Singh and Montek Singh Ahluwalia, are supposed to be financial geniuses and free traders. Why then are they taking enormous amounts of money from profit making companies and giving them to sick public companies is obvious - a messed up version of our hybrid economics. Not being a money guy, I know that the dole out to the sick companies saved thousands of jobs but what I don't know is who is going to pay for it because someone always does. The numbers are staggering.
Mr. Jagannathan writes:
The number in the headline is the amount of money looted by the UPA government from taxpayers and investors since 2004. And all this is from just one sector: petroleum.
The only difference between a Ramalinga Raju, who raided Satyam’s cash chest to bankroll his infrastructure dreams, and the government, which dipped into public sector assets to finance its re-election, is this: Raju cannot legislate away his crimes. Government can.
The article can be read at:
http://www.dnaindia.com/opinion/column_how-the-upa-robbed-us-of-rs280795-crore_1430161
Mr. Jagannathan writes:
The number in the headline is the amount of money looted by the UPA government from taxpayers and investors since 2004. And all this is from just one sector: petroleum.
The only difference between a Ramalinga Raju, who raided Satyam’s cash chest to bankroll his infrastructure dreams, and the government, which dipped into public sector assets to finance its re-election, is this: Raju cannot legislate away his crimes. Government can.
The article can be read at:
http://www.dnaindia.com/opinion/column_how-the-upa-robbed-us-of-rs280795-crore_1430161
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