It was not ‘business as usual’ in a B-school campus! Indian Institute of Management, Calcutta, one who basks in glory of being ‘best finance institute’ invited a Comrade to deliver speech in Institute Lecture series! Mr. Sitaram Yechuri, CPIM Rajya Sabha MP was the guest for today’s occasion!
The discussion was all about Crony Capitalism with special reference to ‘all India Radia!’ How Crony Capitalism is destroying the Democracy at large came back over and again in his speech.
What is this Crony Capitalism? It is a form of capitalist economy in which success in business depends on close relationships between business people and government officials. In other words, it’s a ‘sweetheart deal’ and nepotism performs at its best while government (or any government officials) grants contracts, legal permits, special tax breaks etc.
Yechuri pointed out, collateral damage is taking place due to vicious presence of Crony Capitalism. Not only multi crore rupees 2G Spectrum Allocation or Commonwealth Game Scandal, but the ‘invisible hand’ (not in the context of Adam Smith) was seen in illegal mining, Adarsh housing scams too! In this nexus, natural resources too have been destroyed (illegal mining etc.) and amount of collateral damage was huge! If corruption becomes the key in almost every deal, so how could be democracy prevail unhurt? So, carcinogenic Crony Capitalism is gradually chomping the strongest pillar of Indian Constitution i.e. Democracy!
Honest politicians are soon becoming an endangered species; even Yechuri has jokingly admitted the same while telling that ‘(for a politician) most creative ingenuity can be found in corruption and money-making, though others are not in other orbit!’ The way thousands of crores of rupees being wasted in several scams, that is actually hindering the social progress. ‘Right to Education’ can actually becomes a full-fledged reality had thousands of crores of rupees not being wasted in 2G scams! According to a survey by NEPA, now it would take more time to be implemented as more and more fund is needed. Food Security is still a dream for India. Left parties asked the government, no need to discriminate AP-BPL, give all Indian household 35-kg rice/month. For that Rs. 82,000 crore additional fund is needed and now just think of what happened during CWG!! The reality is, 77% of Indian population living on less than 20 rupees a day, whereas we are getting to see almost in every second day a multi-million scam is unfolding! So, in a way Crony Capitalism is destroying the future is what Yechuri believes. Can India actually afford this much of waste? He asked the questions to the managers-to-be!
But how could a politician stay away from political comments? References of ‘Historical Blunder’ did come while replying a question, so did the issue of tussle between Achuthnandan-Vijayan in a subtle manner, Mamata Banerjee’s Poltical Hungama! Though Comrade didn’t take a single name other than A Raja!
With great pride he told, that not a single name of any left leaders in 2G scams, and in Hawalacase was there! But morality, principle, value is no more a basis while politicians ask for vote! ‘People’s mandate has been bought’ so many a times bright and deserving persons are losing and Money-Muscle is having the last laugh!
He has drawn our attention to the fact, two Indias are being made. At one hand, we are striking deals after deals with G5 countries and focusing on bilateral trade, technology transfer etc. and on the other more than 40% people don’t get a square meal a day! Population has become liability for the government whereas this must be seen as an asset as 54% of them are under the age of 25. So if all of them can be provided with food-health-education, India can change and for better.
But why should anyone vote for the Left? While replying this question, Yechuri told that India wasn’t fall down during the last economic recession because of Left’s timely intervention with government’s economic policies. He cited the examples of, not allowing full convertibility of rupee, foreign banks taking over Indian banks, FDI in Insuarance, Pension fund privatization etc. Had all of them taken place, could India survive the recession? Then a square drive, ‘aren’t these enough reasons to vote for the leftists coupling with morality and honesty, what say?’
Yechuri believes that, economic reforms have in-built mechanism to Crony Capitalism. By any means Crony Capitalism needs to be eliminated. He requested PM Manmohan Singh to take the initiatives in doing so.
And he ended with changing nature of management studies. He called Management studies a ‘trans- disciplinary’ segment, no more a multi-disciplinary! And onus is on the management graduates to drive away the evil called Crony Capitalism while making policies for their respective employers! And future of India lies in management exercise!
Though I wanted to ask him a question… Crony Capitalism is destructive, so is capitalism (though from a different perspective). Between these, where does Communism stand? Is it really dead or actually can play a role in throwing away Crony Capitalism? The question was unheard and naturally, the reply too!!
Still, Welcome comrade!! Different stroke in the hotbed of Capitalism!!