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Moneylife » Grin & bear it

Grin & bear it

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25/08/2011 10:27 AM | 

It is common knowledge that the Dr Manmohan Singh government is ineffective. The regime is able to cover up its misdeeds through a brilliant use of deceit and bluster. The government might have been a deliberate and conniving bystander to the loot. But, in media management and cunning deception, it has proven to be second to none.

Let us try to decipher the primary motivations driving this government.

It is guilty of the highest crime against the nation because of its desperation to pursue its twin obsessions.

a) Its eager pro-corporate obsession: The entire crony capitalistic ‘India story’—the Radia tapes; the loot in the mining sector; interest rates being kept so low that even the inefficient can prosper—are basically a form of grossly subsidising the rich. There’s more; the cunning application of public-private partnerships to favour the private sector, Praful Patel’s hammer & tongs job on Air India and his magnanimous concessions to private airport operators, and Murli Deora’s devotion to Reliance Industries Ltd (and the US),...


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