Also failed to notice how his predecessor misled the Prime Minister Communications and IT Minister Kapil Sibal might have termed the Comptroller and Auditor-General of India (CAG)'s calculation of loss to the exchequer from underpricing of 2G spectrum “utterly erroneous,” but he has completely ignored other scenarios presented by the auditor where new operators made crores by selling their stakes to global telecom giants or were themselves ready to pay more...
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The dark side of globalisation by Jorge Heine & Ramesh Thakur
The rapid growth of global markets has not seen the parallel development of social and economic institutions to ensure balanced, inclusive and sustainable growth. Although we may not have yet reached “the end of history,” globalisation has brought us closer to “the end of geography” as we have known it. The compression of time and space triggered by the Third Industrial Revolution —roughly, since 1980 — has changed our interactions with...
More »Sibal builds 2G maximum-welfare case
Telecom minister Kapil Sibal today termed “utterly erroneous, baseless and sensational” the government auditor’s estimate that the alleged 2G scam resulted in a presumptive loss of Rs 1.76 lakh crore. Sibal gave a detailed explanation of the priorities that drove the telecom policy and the benefits over the years to “the aam aadmi” — something his predecessor A. Raja did not or could not articulate till now. Drawing a parallel with free...
More »The ‘Radia’ctive Indian Media by Satya Sagar
There has been a gross simplification of the issues involved in the exposures in the Radia tapes on the lack of integrity among mediapersons. In order to understand how exactly journalists really function it is necessary to understand the overall context in which they operate and clarify some of the persistent myths about what the profession is all about. Four myths in particular need to be dissected: That it enjoins...
More »Anatomy of Indian capitalism by Himanshu
Ratan Tata has initiated an interesting debate on the nature of India’s capitalist class. His characterization of this class as crony capitalists may not be out of place given recent evidence on a politics, media, judiciary and corporate nexus.Crony capitalism is a system in which businesses multiply their wealth not by fair rules of the market, but through their nexus with governments. Classic examples are the distribution of legal permits,...
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