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Political Diary
J&K ‘Breathing Free’: NOT GOOD ENOUGH FOR POLLS!, By Insaf, |
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Round The States
New Delhi, 9 March 2024
J&K ‘Breathing Free’
NOT GOOD ENOUGH FOR POLLS!
By Insaf
Jammu and Kashmir is ‘breathing freely today’. A message that
Prime Minister Modi sent out from Srinagar, which incidentally took him four-and-a-half
long years to pay a visit since the abrogation of Article 370 in August 2019! Addressing
a massive rally at Bakshi stadium on Thursday last, he pledged rapid
development in next five years, but steered clear on when the situation would
be appropriate for UT elections. Recall, Supreme Court last December asked ECI
to conduct Assembly polls by this September. Modi as always took opportunity to
hit out at the parties in the region, saying it ‘has been the biggest victim of
dynastic politics since independence. Congress misguided the nation about
Article 370 but who did it benefit, the people or a few political families?’
Predictably, the families hit back. PDP’ Mehbooba Mufti post
on X read: ‘Disheartening to see employees being forcibly mobilised to paint a
pretty picture that all is well post 2019 and that people here are celebrating
their own collective disempowerment and humiliation,’ This visit, she said was only
meant to address and drum support amongst BJP’s core constituency in the rest
of India for the upcoming Parliament elections’. NC’s Omar Abdullah accused the
administration of ‘pulling out all stops' to ensure a crowd for Modi's rally
and that BJP wouldn’t be able to do so on its own in Kashmir. Time will tell
which way the wind eventually blows. As said, the taste of the pudding is in
its eating and the first bite should be of having a democratically elected
government returning to the Valley.
* * * *
Judicial
Propriety
Calcutta High Court judge Abhijit Gangopadhyay joining the
BJP 48 hours after resigning from the bench, has raised a big question on
judicial objectivity and propriety. “Today, I have joined a new field. I am
happy to join the BJP and will work as a party soldier. Our objective is to
oust the corrupt TMC regime from the state,” he said on Thursday last. The statement
has given Mamata Banerjee a handle to stir up his controversial rulings, including
on various education-related matters and orders which led to 14 CBI probes and
arrest of four of its MLAs. Said she: ‘While occupying the chair of justice,
the BJP babu announced he would join the party. Can anyone expect justice from
such people? Every single day, they accept a PIL and work under the BJP’s
instructions”, adding “I am happy their masks are finally off.” Claiming his
judgements were wrong, she warned ‘the youths will not forgive you. We will
ensure your defeat. From tomorrow onwards, the people of the state will act as
the judge for your actions.” Guess, his fight against TMC government will not
be a cake walk, as he will no longer have the protection of the bench!
* * * *
HP Damage Control
Will Congress be able to put its house in order in Himachal
Pradesh? Chief Minister Sukhwinder Sukhu flew into Delhi on Thursday last to
hold meetings with High Command to douse the fire, allegedly lit by ‘BJP and Centre
to destabilise a democratically elected government.’ Efforts are on to see the
Cabinet’s resolution ‘state government completes a full five-year term,’ works
out, including Sukhu willing to reconsider disqualification of 6 MLAs who helped
BJP nominee win the Rajya Sabha seat and bring them back. The big question is whether
the ‘rebels’ are on the same page. One, former minister’s, also removed as
Secretary, AICC, Facebook post read: “When high command turns blind and those
in power become dictators, then I couldn’t have remained silent like a coward.
Our responsibility is towards fulfilling aspirations of people who elected us
and we can’t break their confidence.” Another MLA, who resigned as state working
president posted: ‘Running from Sujanpur to Shimla and from Shimla to Delhi
with folded hands for fulfilment of promises made by Congress in the run-up to
last Assembly polls didn’t yield results. I wished for justice but got only
humiliation.’ The High Command would do well to see the writing on the wall.
* * * *
Breather For Kerala
Kerala can heave a sigh of relief. The Supreme Court on
Wednesday last directed the Centre to allow the cash-strapped state to borrow
Rs 13,608 crore on an immediate basis. Plus, both parties should hold talks to
sort out the issue of borrowings, as the State was struggling to pay salaries
of government employees and pension to retired employees. Importantly, the court
observed that fiscal mismanagement by states is an issue the Central government
has to be concerned about as it impacts the nation’s economy, while hearing a
suit filed by Kerala government accusing the Union of India of interfering in
exercise of its ‘exclusive, autonomous and plenary powers’ to regulate the
state’s finances by imposing a ceiling on borrowing. Importantly, the court didn’t
agree with Centre’s condition the State withdraw the suit to consider its
demand saying it’s a ‘constitutional right under Article 131’, which allows it to
deal with disputes between Centre and a state or between states. Further it
advised, the dialogue must continue for ‘that’s the strength of the
relationship between Union and the state.’ A piece of advice which could halt
the ‘federalism’ war unleashed by New Delhi, of course if accepted.
* * * *
Failure of Justice
Three cheers to Nagpur bench of Bombay High Court. It has
made correction, albeit a decade later. Acquitting former Delhi University
professor G.N. Saibaba and five others in an alleged ‘terrorist’ case in 2014,
the bench trashed the prosecution’s claims saying the sanction given under UAPA
was without application of mind and the report recommending invocation of UAPA
provisions was ‘cryptic and a laconic half page communication.’ The state had
claimed the accused were members of banned Communist Party of India (Maoist)
after seizing pamphlets and electronic data from the accused. This said the
bench merely demonstrated they were ‘sympathisers’ of Maoist philosophy and
can’t be itself contemplated as an offence under the UAPA. Plus, the trial
court’s ‘guilty’ verdict was a “failure of justice.” Indeed, as Saibaba on his
release said ‘…Why has it drawn so long? Ten years of my life and my
co-accused’s life. Who will bring them back?... I couldn’t pull up, move out of
my wheelchair, go to the toilet (on my own), take a bath. It’s a wonder that I
came out of the prison alive today.” Unfortunately, it wasn’t the case for the
6th person, who died in August 2022 awaiting a verdict. As rightly
said: Justice delayed is justice denied. ---INFA
(Copyright, India News & Feature
Alliance)
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WHO IS TO FIX THE POLL DATE?, By Inder Jit, 7 March 2024 |
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REWIND
Now Delhi, 7 March
2024
WHO IS TO FIX THE POLL DATE?
By Inder Jit
(Released on 23 October 1984)
Speculation on the next Lok Sabha
poll continues. Mrs Gandhi has stated more than once that the general election
will be held "according to schedule". The Congress-I Working President,
Mr Kamlapati Tripathi, has been more specific and largely confirmed what I
wrote a fortnight back. The poll, he has indicated, will be held in the last week
of December or in the first work of January. But the people at large are not
satisfied. They want the precise dates and are unable to understand why Mrs
Gandhi chooses to be vague and talks in parables. The reason is not far to see.
Strictly, the poll dates are neither to be fixed by the Government nor
announced by it -- contrary to a widespread but erroneous impression. The
responsibility for both is wholly and exclusively that of the Election
Commission, which is an independent statutory authority under the Constitution.
The poll body may have consulted the Government in the past informally or
formally. But it is not obliged to do so.
What precisely is the implication of
Mrs Gandhi's remark that the poll will be held "according to
schedule". Broadly, it implies a poll before the present Lok Sabha
completes its five-year term on January 20, 1995. However, some experts draw
attention to the fact that there is no provision in the Constitution which
specifically requires a general election for the Lok Sabha to be held within
six months of the dissolution of the House. True, six general elections have
been held so far within six months. However, this has been so because of the
good sense of the Prime Ministers and the Chief Election Commissioners -- and
their willingness to accept the six-month period as an implication of Article
85 of the Constitution and another provision which stipulates that there shall
be a Lok Sabha. Article 85 lays down: "The President shall from time to
time summon each House of Parliament to meet at such time and place as he
thinks fit but six months shall not intervene between its last sitting in on
session and the date appointed for its sitting in the next session."
This has been interpreted to mean
that the new Lok Sabha must meet within six months of the last session of the
dissolved House. Yet, according to some experts, the Article does not
necessarily make it mandatory for the poll to be held within six months. The
Article, they point out, does not talk of the old dissolved House and the new
Lok Sabha. It refers only to two sessions of the House. This silence or
ambiguity, they argue, could prove dangerous. The Article could be interpreted
in a way as to leave the door wide open for unscrupulous leaders in power to
enter into a conspiracy and postpone elections indefinitely with impunity and
without violating the Constitution! In fact, some insiders among
Parliamentarians recall that the January poll of 1980 might not have been held within
six months of the dissolution of the Sixth Lok Sabha but for the
"democratic and gentlemanly" approach adopted by Mr Charan Singh,
then Prime Minister and the interpretation given to Article 85 by the Chief
Election Commissioner, Mr S.L. Shakdher.
Some Lok Dal leaders, including Mr
Raj Narain, wanted the elections postponed by month or so to “suit the
convenience of the farmers”. But Mr Charan Singh strongly opposed the move as
it would have delayed the poll beyond the six month period and even reprimanded
them publicly. What is more, he left the timing of the poll for the new Lok
Sabha appropriately to the Chief Election Commissioner. Mr Shakdher, for his
part, firmly held that Parliament was a continuing body and the six-month
period, therefore, applied not only to two sessions of the same House but also
to the last session of the dissolved House and the first session of the new
House, Undoubtedly, there is no guarantee that the precedents established so
far would necessarily be followed. The Constitution contains a lacuna which
could be exploited to delay a general election beyond six months. (In 1979,
another loophole enabled Mr Charan Singh to head a Government for six months
without facing the Lok Sabha even once!) But conventions are often more
important than the written word.
Alas, ignorance persists even where
the Constitution is clear. The Election Commission is a case in point. The
founding fathers were clear that free and fair elections were the bedrock of
democracy and, therefore, created an independent Election Commission which
would function without fear or favour. Accordingly, Article 324(1) of the
Constitution provides: "The superintendence, direction and control of the
preparation of the electoral rolls for, and the conduct of, all elections to
Parliament and to the Legislatures of every State and of elections to the
office of President and Vice- President held under this Constitution shall be
vested in a Commission (referred to in this Constitution as the Election
Commission)." The founding fathers also ensured the independence of the
Commission by providing that "the Chief Election Commissioner shall not be
removed from his office except in like manner and on like grounds as a judge of
the Supreme Court." Further, they provided that "the conditions of
service of the Chief Election Commissioner shall not be varied to his
disadvantage after his appointment."
The powers of the Election
Commission in regard to three matters -- superintendence, direction and control
of elections -- is absolute and cannot be questioned by anyone. (Not many
remember that these three words were deliberately and advisedly picked by the
founding fathers from Article 14 of the Government of India Act of 1935-- a key
article designed to give the Secretary of State absolute power to supervise,
direct and control the functioning of the Governor General of India, who was
authorised even to act "in his discretion" and "exercise his
individual judgment.") In fact, the Supreme Court has already held that
the power of the Commission in the superintendence, direction and control is
unfettered and over-riding. Parliament has, no doubt, been empowered to legislate
on certain aspects of the elections, such as making provision with respect to
elections to legislatures. But the crucial point here is this: all such
legislation is subject to the absolute power accorded to the Election
Commission to conduct a free and fair poll, basic to a healthy democracy.
In practice, the three words --
superintendence, direction and control -- also give the Election Commission two
vital far-reaching rights, to virtually legislate and to be informed. The Chief
Election Commissioner is empowered to legislate through "direction",
implement the legislation through "superintendence" and interpret the
legislation through "control". Every little detail in regard to the
conduct of elections comes under his overall control, direction and superintendence
through Section (6) of Article 324 of the Constitution which provides:
"The President, or the Governor of a state, shall, when so requested by
the Election Commission, make available to the Election Commission or to a
Regional Commissioner such staff as may be necessary for the discharge of the
functions conferred on the Election Commission by clause (1)." (italics
mine) The word staff does not mean merely officials of clerks of the state.
The word embraces everyone under the umbrella of the Centre or the State
Government, including the police and the army.
The former Chief Election
Commissioner ordered a repoll in the by-election to the Lok Sabha from Garhwal
in 1981 on the ground that outside police force had been inducted into the
constituency without his knowledge. Mrs Gandhi made light of Mr Shakdher's
emphasis on his right to be informed. But her criticism stemmed from inadequate
grasp of the Constitution and the implications of the right to be informed. The
right flows from the Constitution itself. How else does the Election Commission
exercise its powers of superintendence, direction and control? Again, the right
to be informed carries the right to question and, by implication, to control
and direct, as in the case of Parliament's sovereign right to know, which makes
the question-hour sacrosanct. Churchill, it may be recalled, asked Lord Mountbatten
only one question when the latter sought his advice about whether or not he
should accept Governor-Generalship of India following independence: "Have
you the right of information"? When Mountbatten replied yes, Churchill
said: "Fine. Go ahead."
Interestingly, a demand has gone up
in Britain for what the London Times describes as an "an independent
organisation to oversee all aspects of elections from boundaries to
broadcasting." Britain today is alone among the world's democracies which
leaves politicians in charge of elections. More and more Britons now feel it is
time that they established an Electoral Commission with independent membership
"to supervise the electoral process on behalf of the voters and to remove
temptation from the politicians." The Commission, it has been suggested,
should be appointed by and responsible to Parliament, reporting annually on its
work. In an article entitled "Keep Politics out of
Polling", Mr Richard Holmes, Director of the all-party Campaign for
Electoral Reform, states: "It is time we stopped treating elections as a
branch of Government administration. Ministers should take off their referee's
shirts, lay down their whistles and become bona fide players in the electoral
game."
In the final analysis, our Election
Commission is expected to function independently and impartially and is
adequately empowered to do so honourably. It is for the Chief Election Commission,
Mr R.K. Trivedi and him alone to decide on the dates for the next poll and
announce them. It is neither fair nor proper for him to abdicate his
responsibility and leave it to the Government to indicate its preference or
convenience. As I stated earlier, the Chief Election Commissioner could
informally sound the Government leaders or, for that matter, also the
Opposition leaders before finally making up his mind. However, he is not
obliged to do so. In fact, Mr Shakdher picked January 3 and 6 for the 1980 poll
entirely on his own. There was no consultation with Mr Charan Singh or any
other government leader. Mr Trivedi should, likewise, make up his mind about
the precise timing of the poll and take the country into confidence. Barely
three months are now left for the present Lok Sabha to complete five years. The
people are entitled to know the poll dates. An announcement is overdue.--INFA
(Copyright,
India News and Feature Alliance)
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Electoral Bonds Timing: SBI’S PLAYS SPOILSPORT?, By Dhurjati Mukherjee, 6 March 2024 |
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Open Forum
New Delhi, 6 March 2024
Electoral Bonds Timing
SBI’S PLAYS SPOILSPORT?
By Dhurjati Mukherjee
The State
Bank of India has wittingly or unwittingly come to the aid of the Modi
government. The much-awaited exposure on who the donors were to the electoral
bonds worth Rs 35,660 crore unfortunately will not be known till after the big
battle of elections 2024. This as the SBI on Monday last petitioned the Supreme
Court to extend the deadline for submitting the details on the purchase of
these bonds to the Election Commission of India by June 30, instead of March 6
as directed following the landmark judgement striking down the bond scheme.
Importantly,
the Opposition will not have authentic ammunition, details of the donors which
were to go on the ECI website by March 13, to flog its charges against the
government of being pro-rich, during the ensuing polls. Some reactions to the
SBI plea are worth a mention. The Congress said, “Narendra Modi is leaving no
stone unturned to hide the business of donations. When the Supreme Court said
it is the right of the people of the country to know the truth about the electoral
bonds, then why does SBI not want this information to be made public before the
elections?” The CPM said, “This would be a travesty of justice. Is the SBI
seeking extension till the general elections are over to protect Modi and
the BJP from exposure of the ‘quid pro quo’ that the Supreme Court
apprehended. In this digital age, all this information is a mouse-click away.
Seeking extension raises suspicious apprehensions.”
Interestingly,
in its plea to the top court the SBI said that while it ‘intends to comply with
the directions issued, there are certain practical difficulties with the
decoding exercise…due to stringent measures undertaken to ensure that the
identity of the donors was kept anonymous…’
Indeed,
the timing of the exposé would have played a significant role in these crucial
elections and the delay tilts the balance in favour of the government.
It’s no
denying that money power in polls has put a big question mark on the country’s
reputation of a vibrant democracy. The availability of vast financial
resources, mainly to the ruling dispensation, obviously gives their candidates
an unfair advantage over others, leading to an uneven playing field where those
with more money dominate the political arena.
The
verdict of the 5-bench constitutional had referred to how large, anonymous
donations by the rich to the ruling party can lead to “quid pro quo” in the
form of influence over policy making and thus sought details – amount, date,
donor and recipient – relating to every electoral bond purchased and cashed
over the past six years, since April 2019.
It was
rightly felt that electoral bonds far from curbing black money and preventing
money laundering has steeply increased the income of political parties from
‘unknown sources’ to a staggering Rs 11,829 crore during the years 2018-19 to
2021-22. The share of income from unknown sources for national parties rose
from 66% during 2014-15 to 2016-17 to 72% during the years 2018-19 to 2021-22.
Between 2019-20 and 2021, the bond income has been 81% of the total unknown
income of national parties.
Close on
the heels of this development, the Congress wrote to Union Finance Minister
Sitharaman citing information available on ECI website, furnished by the BJP
itself, which showed how 30 companies hounded by the CBI, IT and ED paid Rs 335
crore to the ruling party in what looks like a quid pro quo. Reports, it said, “suggest
that 30 companies embroiled in the net of central agencies which have become
extortion agents paid Rs 335 crore donations to the BJP”. The above letter
referred to reports that chronicle instances wherein the probe agencies arrested,
searched or seized assets of certain companies and later were apparently coerced
to donate to the BJP.
According
to the Association for Democratic Reforms, the total funds raised by political
parties through electoral bonds between 2017-18 and 2022-23 was around Rs
12,000 crore out of which the BJP’s share was as high as 54.8%. Even if this is
considered white money, the party has raised much more money for its expenses,
which also includes ‘buying’ legislators and political leaders.
According
to Prof. Atul Sood of the Centre for the Study of Regional Development, JNU,
multinational companies were involved in tax abuse to the tune of Rs 75,000
crore per annum.
The
pro-corporate ruling party has thus allowed tax concessions of around Rs 1 lakh
crore every year to Indian domestic corporate houses but most of these were not
increasing their investments.
Recall
that the court verdict pointed out: “Economic inequality leads to differing
levels of political engagement because of the deep association between money
and politics. At a primary level, political contributions give ‘a seat in the
table’ to the contributor”. It had rightly rejected the Centre’s argument
that by ensuring anonymity, the scheme not only disincentivised
money-laundering and the stashing of black money but granted immunity to the
donor from victimisation by parties to which he did not make sufficient
donations.
According
to available figures 47% of contributions to parties have been through bonds
and 94% of these have been in the denomination of Rs 1 crore. Electoral bonds
obviously created a genre of corporate kingmakers, who would have a big say in
policy making with an additional incentive of anonymity.
While
the Supreme Court analysed the issue with specific focus on the right to
information of citizens to the identity of the donor, which in turn would
impact his/her choice of voting, of greater significance is that the judgment
has strengthened the constitutional ideal of free and fair elections. Anonymous
and exponential funding with no cap is possible only by corporate giants, who
could claim illegitimate entry into governance. That money so obtained in
donation can be used by political parties for any purpose and not necessarily
for election expenditure, makes it not only unjust but also unjustifiable. Will
the striking down of the electoral bond scheme make a big difference? Fear is
another ingenious scheme would replace it and role of money power, not only in
elections but governance itself would remain.
Whether
the country’s political leadership is at all interested in strengthening laws
related to campaign, finance and enforcing transparency in political funding will
need to be watched. Bolstering independence of institutions like the Election
Commission and law enforcement agencies, under question, can be a step towards ensuring
what is sought: free and fair elections.
Addressing
such challenges requires a collective effort from citizens, political parties,
and the government. Transparency, accountability, and a culture of ethical
politics is the need of the hour. It remains to be seen whether India can
safeguard its democratic principles in the coming years and halt the political
leadership’s schemes to undermine the republic. As said, if there’s a will, there’s
a way.---INFA
(Copyright, India News & Feature Alliance)
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Court Tells Jan Sewak: NO MORE IMMUNITY, By Poonam I Kaushish, 5 March 2024 |
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Political Diary
New Delhi, 5 March 2024
Court Tells Jan Sewak
NO MORE IMMUNITY
By Poonam I Kaushish
Jan sewaks or swayam sewaks?
Public servants we are assert our Right Honourables. But that is only for
public consumption. Where gold speaks, their tongues are silent. Politics is a
highly lucrative business, which needs no personal capital: only the ability to
con the public that you are their ultimate messiah. A one-man company whose
cash counters keep ringing. And, which pays rich dividends to its owner
depending on the fluctuating value of his stock!
Not any more. If the Supreme Court
has its say -- and way. In a landmark unanimous judgment a seven-Judge
Constitution Bench has brutally torn asunder the political facade. Exposing our
netas in all their ugliness by overruling
its 1998 five Bench ruling that gave legislators immunity from prosecution for
accepting bribes to make a speech or cast a vote in Parliament or State
legislatures.
“We disagree with the majority judgment in Narasimha
Rao case which grants immunity to legislators as it has a wide ramifications, grave
danger and thus overruled,” said Chief Justice Chandrachud. Holding taking a
bribe is an independent crime and has no link with Parliamentary privileges and
what a lawmaker says or does inside Parliament or Assembly hence immunity from
prosecution will not shield them.
Adding, “corruption and bribery is
destructive of the aspirations and deliberative ideals of the Constitution and
creates a polity which deprives citizens of a responsible, responsive, and
representative democracy..
Thereby, discounting Articles 105
and 194 which protects MPs and MLAs freedom of speech and shields them from “any
proceedings in any court in respect of anything said or any vote given by him
in the Legislature” to enable them to work without fear of legal action. This,
the Court warned would create a section that can enjoy unregulated exemption
from law and potentially destroy functioning of our Parliamentary democracy.
Besides, the 1998 judgment had
created a “paradoxical situation” where a legislator who accepts a bribe and
votes accordingly is protected and a lawmaker who despite taking a bribe votes
independently is prosecuted.
This verdict has its genesis in Circa
July 20, 1993: A CPM MP moves a No Confidence Motion against Narasimha Rao’s
minority Congress Government. The Congress has 251 in a 528 members Lok Sabha,
but it defeats the motion with 265 votes by ‘garnering’ the 14 missing votes.
Circa 28 February 1996: Rashtriya Mukti Morcha files a
complaint with the CBI alleging that these 14 MPs were paid over Rs. 3 crore
for voting Congress.
Circa 1 March 1996: In an iconic speech JMM MP Suraj Mandal
one of those bribed by the Congress states in the Lok Sabha: “Which MP does not
take money… I know the people who have made money from the coal and iron
extracted…taken donations, money in thailis
and gathris… the CPM and JMM take
levy from people. What about petrol pumps? Even BJP is involved. Do saand ke beech bachchre ko kyon la rahe
ho?” His speech was heard in pin-drop silence. None protested. How could they? He was only speaking the
truth.
Again on Circa 22 July
2008: The Congress-led UPA Government moves a confidence vote in the Lok Sabha
after the Left withdraws support over the Indo-US nuclear deal and wins it with
a 19 vote victory (275 as against 256 of the Opposition's). Prior to voting,
large amounts of cash are displayed by three MPs. Predictably, all hell breaks loose.
A Parliamentary
Committee is set up to go into the unparallel Lok Sabha cash-for-vote scam.
Eleven MPs are expelled and the case handed to the police in January 2009.
Circa July-September 2011: The Supreme Court pulls up the
police for its shoddy investigations. Two months later, late Samajwadi MP Amar
Singh, two BJP MPs who exposed the scam and two middle men are jailed. On the
Lok Sabha’s penultimate day, Working Chairman of the NDA Advani hails the BJP’s
ex-MPs as whistle blowers and declares that if they are guilty, then he too
should be jailed. “I did the sting, arrest me,” he dares.
Circa May 2015: Telangana TDP leader
is caught on video offering bribe to a nominated MLA in exchange for his vote
in Legislative Council elections. One TDP MLA is sent to jail. But the High
Court lets him out due to “insufficient evidence.”Wring your hands all you want, but all
thre
e incidents highlight the deep malaise that affects our political system
and absence of probity at all levels of public life alongside dishonesty and immorality.
In fact, the under-belly of power politics has become more shameless, rotten,
ugly and raw to the gutter level. Victory at any cost no matter what it takes.
Forget Constitutional morality.
It is all very well for our Right
Honourables today to rave and rant, appear horrified, adopt a holier-than-thou
attitude and profess to uphold the best tenets of Parliamentary democracy. Sic.
But the moot point is: Had our MPs gone in for some soul-cleansing, taken
timely action and stemmed the rot in 1996, 2011-15 would not have happened.
But they did. Bluntly, because politics continues to be all
about money, honey. Whereby, buying-selling of votes is on auto-mode all the
time. Wads of notes are exchanged at a drop of a hat. And going to jail is fast
becoming a badge of honour! Succinctly remarked a charge-sheeted MP, “We are
only settling political scores, it has nothing to do with being corrupt or
clean. We shall be judged by law of the land. But the main verdict comes from
the electorate”. Conveniently, forgetting that an electoral victory does not
erase a legal wrong.
Alas, today we live in an era, where
public morality and practical politics has acquired a particularly grotesque
dimension whereby nine out of ten cases go unreported. Confessed a seasoned politician: Es hamam me hum sab nange hain. Na BJP mein
hain danav, na Congresss mein devta. An honest MP is one who is not
caught.”
Arguably, in a milieu wherein large suitcases are proving
too small to stuff political skeletons and in the business of democracy where everything comes for a price including
politicians, it raises a moot point: How can our lawmakers ‘sell’ their dignity
and honour for money? Worse, there is no remorse on an issue which impinges on
the essence, dignity and credibility of Parliament? When will our netagan stop their immoral dhanda? Who is the culprit in whose
eyes?
All in all, the coming days are crucial. The Supreme Court
has held a mirror. Time our politicians realize they are expected to be a notch
above ordinary mortals. Our netas need
to desist from Greed for Power and Power of Greed. Given that when an undataa becomes a saudagar , the aam aadmi is bound to become garib!
It is in the interest of healthy democracy that unhealthy
precedents are not set. Parliamentary democracy can succeed only when rules of
the game are followed honestly. Our politicians need to remember a home-truth:
Public accountability is indispensable in a democratic set-up. With power comes
responsibility.
On hopes our leaders will now chart a new dimension in
upholding the best tenets of Parliamentary morality and probity as elections
draw near. Time for our leaders to wake up from their deep slumber of self
conceit and deception of money hai to
power hai! ---- INFA
(Copyright, India News & Feature Alliance)
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Core, Farm slip; Prices Up: CONSTRUCTION A BURDEN?, By Shivaji Sarkar, 4 March, 2024 |
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Economic
Highlights
New
Delhi, 4 March 2024
Core, Farm slip; Prices Up
CONSTRUCTION A BURDEN?
By Shivaji Sarkar
India is
experiencing a robust growth rate of 8.4 per cent, paralleled by rising
inflationary trends, sparking concerns within the Reserve Bank of India (RBI).
Projections of economic ease appear optimistic, prompting questions about
whether inflation might impede growth or if capital expenditure (capex) could
bolster it.
However,
key concerns linger, including a dip in core sector growth and a contraction of
the farm sector by 0.8 per cent, compared to the previous expansion of 5.2 per
cent in the third quarter of 2022-23. Despite a notable rise in manufacturing
by 11.6 per cent, following a contraction of 4.8 per cent in the preceding
year, challenges persist. Despite substantial government capex, consumption
growth remains feeble, private investment continues to lag, and constructions
may be a drag.
India’s
claim of growth is accompanied by decadal cumulative inflation of 55 per cent
at 5.5 per cent a year. Rural inflation at 5.93 per cent is far higher than the
urban at 5.69 per cent as in December 2023. And less noted vegetable inflation
has touched 9.94 per cent.
The RBI
is cautious in its observations, but the International Monetary Fund (IMF) is
blunt on high core inflation and stresses that central banks need to keep
monetary policy tighter for longer than is current in markets. In its Global
Financial Stability Report, it says “risks to global growth are skewed to the
downside as the global credit cycle has started to turn as borrowers’ debt
repayment capacity diminishes”.
India
needs to heed to the warning. Despite RBI remaining tight fisted, it notes at
the Monetary Policy Committee report of this February that since February 2023
it has not succeeded in its effort to check prices. It means government has to
be careful on burgeoning borrowings. The country’s allocation for debt
repayment of Rs 10 lakh crore or almost 25 per cent of the central budget skews
the economic focus. The quarterly GDP growth figures touching 8.4 per cent in
third quarter against the Bloomberg estimates of 6.6 per cent, projected as
fastest in 18 months, portrays one side of the picture as simultaneously the
core sector growth slips to 3.6 per cent, a 15-month low in January.
Latest
data show eight core sectors grew slower than 4.9 per cent in December and 9.6
per cent in January 2023. The core sector consists of 41 per cent of the index
for industrial growth.
An
increased government capital expenditure outlay may do little to change the
overall investment situation as most of private firms remain reluctant to
invest more. Margins for companies have plummeted despite high sales growth and
it is apprehended that sales would decelerate.
Compared
to the 1980s when capex was high at 55 per cent, a study by Systematix group
denotes, the present contribution is on the rise at 34 per cent. It is,
however, concentrated on construction activities. It does not have multiplier
effect on the industrial sector. This affects private investment growth, an aim
of the higher public investments. A handful of companies with better liaison are
pocketing the capex extravaganza. Actual demands remain low as core sector
figures denote.
The
consumers may have to pay higher prices for natural gas after the elections
adding to further inflationary trends. The government has raised natural gas
prices to $8.2 per unit – million metric British thermal units. For consumers
the cap remains at $6.5 in the current price mechanism when the Indian basket,
was linked in April 2023. It is meant for international sale by domestic
producers.
Over Rs
10 lakh crore projects have been announced in election meetings by Prime
Minister Narendra Modi in Uttar Pradesh and over a billion more for schemes in
West Bengal, Chhattisgarh, Tamil Nadu, other states, schemes for railways and
other areas. The rail projects are linked to construction of railway stations
and similar other facilities. Faster trains fascinate but are concerns for
connectivity in hinterlands.
Promises
are encouraging. Overall investments have grown on heavy borrowings of Rs
172.37 lakh crore as on March 2024, estimated to rise to Rs 187.35 lakh crore
on March 31, 2025. This has a cost push effect. The RBI notes that over the
past decade until 2022, consumer price inflation in India averaged 5.5 per cent
a year or 55 per cent in a decade. This was above the Asia-Pacific’s figure of
2.1 per cent.
The
Indian Institute of Management, Ahmedabad, which conducted Business Inflations
Survey (BIES) in December 2023, mainly among the manufacturing companies,
reports a significant increase in one-year unit cost-based expected headline
inflation. It reports an increase of 4.96 per cent in December 2023 from 4.73
per cent October 2023.
The
latest MPC notes that with elevated levels of food inflation, there is need to
remain focussed on achieving the inflation target in a sustained way. It also
observed that it could not achieve its target set in February 2023, implying
the central bank could not contain prices. Prices of vegetables, including
tomato, garlic, lemon and ginger and food grain have shot up. It affects
overall costing of all the government estimates. Overall, it dampens the growth
efforts.
Promising
investments to the people that is unsustainable have deleterious effect on the
economy. Debt pushed investments raise money circulation further spiking
prices. The populism may cause euphoria but gains to the economy are uncertain.
It could, as the RBI indicates, be deceptive. Revival of growth in consumption
demand is the key and “would require improved employment and household income
conditions.
The
consumer optimism, increased spending, as per RBI urban household survey 2-11
January 2024 is yet to reach “pre-covid19 period”. The RBI stresses that jobs and household
income rise are key to the growth of the country whatever might be the euphoric
figures of it being the fifth or third world economy. The consumer is
constrained by the gap in discretionary spending that is the freedom of
purchasing goods of their choice.
This is
also reflected in foreign direct investment (FDI) as a percentage of GDP being
restricted to 2-2.5 per cent of GDP, which is hardly sufficient as also hot
volatile money. This could be an indication that foreign companies are
circumspect.
The
country has to check inflation as it diminishes the purchasing power of
individuals that can’t cope up with unaffordable goods, services or essential
items as also constructions that could add to post-poll prices. Prudent
economic policies are necessary for sustaining growth and job creation.
Supposed global standings epaulets hardly help.---INFA
(Copyright, India News & Feature Alliance)
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