Thursday, March 17, 2016

Modi and Crony Capitalism

Bunga Bunga, with Curry
Why are the Mallyas of India growing and even become members of parliament using their financial power? Congress vice-president Rahul Gandhi asked Modi, "When a poor man steals, he is beaten up and thrown into jail. Someone who does not have food to eat and steals a roti is beaten up and put behind bars and a big businessmen who steals INR 9,000 crore from the country, you allow him to escape in first class from the country. What is happening?"
The question is quite relevant but he should also ask his own party-led governments which allowed the escape of Quattrochi who was involved in the Bofors gun deal and the former IPL chief Lalit Modi. Mallya came to parliament with the support of the BJP and Janata Dal. So in a way, neither the BJP nor the Congress governments can escape blame as they had supported crony capitalism. It is not uncommon for business tycoons to use their money power to become MPs to further their business prospects. Other business tycoons send their proxies to protect their interests both in Lok Sabha and Rajya Sabha. They sit in parliamentary committees despite conflicts of interest. They try to manipulate the system.
So what could be done to stop them?

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