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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The growing jobs challenge
The Labour Bureau recently released its first report on employment in the country. Till now, job estimates have usually been available in the employment-unemployment surveys of the National Sample Survey Organisation (NSSO). The most recent of these is the 64th round (2007-08), preliminary results of which were reported in this column on 20 July. The 64th round estimates were disappointing, with annual employment growth during 2004-05 and 2007-08 at 0.8...
More »The Brave New World of the Glass House by Prabir Purkayastha
What does the Niira Radia tapes, Wikileaks and whole body scanners have in common? It is the end of privacy both for the public individual or the private one. For the public individual, every thing that they speak or write can now be put in public domain. A quarter of a million cables from US Embassies around the world, some of them marked highly confidential are now public. So are...
More »'Paid news would finish off journalism unless...'
Media is business, journalism is not. With these stinging words, developmental journalist and Magsaysay Award winner for journalism P Sainath grabbed the attention of the 250 media students attending Mumbai's Sophia Polytechnic's annual lecture, 'Catalyst for Change', on Thursday. The topic was 'Paid News', on which there cannot be a more well-informed speaker than Sainath who has consistently highlighted the menace in his writings. Sainath said since 2008, some 3000 journalists...
More »NDTV juggles funds, shares abroad, avoids tax by Joyeeta Basu
NDTV, through its foreign subsidiaries, is suspected to be indulging in gross violations of Indian tax and corporate laws. NDTV Network Plc, UK was set up in November 2006. Its balance sheets were not filed in India. This company has raised and invested huge sums of money in its subsidiaries, NDTV Imagine (now sold), NDTV Lifestyle, NDTV Labs, NDTV Convergence and NGEN Media Services. The main activity of the company...
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