Political Diary
New
Delhi, 19 September 2018
Neta +
Industrialist = Crony Bhaichara
BUDDY
BUSINESS OF QUID PRO QOU
By
Poonam I Kaushish
This is a sordid but juicy saga of hedonistic
crony capitalism and corrupt netas which
played out on India’s political theatre last week. Of a political war of words
over absconding ‘King of Good Times’ Kingfisher airline Vijay Mallya’s claim
that he “had met Finance Minister Jaitley” before leaving India on 2 March 2016
to settle his Rs 9000 crores bank loans. The Congress reiterated this and
queried why the CBI changed his “detain” notice to “inform” at airports thereby
enabling him to leave the country. Predictably, the Government accused both of “lying”
to cover up their “own sins” in the case. Welcome to 21st century desh ki rajniti: Of quid-pro-quos and
you-scratch-my-back-I-scratch-yours, yaar!
Undeniably, Mallya has become the poster boy
of bank default and Prime Minister Modi’s pledge to bring ‘the swindlers to
book.” Sure its public money and he should damn well pay it back. Like others
of his ilk. Be it jeweller Nirav
Modi and uncle Mehul Choksi of Rs 13,0000 crores bank default. But when one delves
deep into Mallyagate one realizes how deep the rot of crony capitalism is.
Consider both
Congress and BJP helped Mallya become a Rajya Sabha MP: Congress with JD(S) in
2002 and BJP with JD(S) in 2010. In Nirav Modi’s case the loans were given in
Congress-led UPA rule and he fled the country January during BJP-led NDA
Government era. A classic case of the
pot calling the kettle black. Confessed a seasoned politician: Is hamam me hum sab nange hain!
Recall, Union Highway Minister Gadhkari
cruising on the Ruia’s of Essar fame yatch in the South of France three years
ago along-with others using ‘industrialists friends’ company jets, lavish homes
for personal pleasure and financing their off-springs shaadis. Consequently, company accounts are fudged to feed the
voracious appetite of their political and Governmental mai-baaps.
In fact, a surfeit of classic illustrations of crony capitalism
abound. From the 2G spectrum scam, Adarsh Housing Society scandal, Coalgate
wherein coal blocks were given to families and friends of UPA Ministers,
Congress and its allies MPs’ or people close to the Party. Congress ex
MPs-industrialist Navin Jindal and Vijay Darda who both grabbed coal blocks as
did former RJD’s Union Corporate Affairs Minister PC Gupta's sons. And the
infamous Nira Radia tapes encompassing industrialists, media, netagan, babudom et al.
Today we live in an era, where public morality
and practical politics has acquired a particularly grotesque dimension whereby India
has become a ‘democracy of concessions’ or ‘concessions of State power.’
Bluntly, corrupt and venal politicians
help cronies through the “politics of direct sale”, wherein tax payers
money is squandered on friends by surreptitiously telling public sector banks
to ‘loan’ people’s funds without verifying how the borrower will return the
money. In return the crooked neta gets
the businessman to provide the funds that allow him to fight elections.
Call it plutocracy (rule by wealth) or kleptocracy (rule by
theft) either which way netas of all shapes and sizes, hues and
colours, communal and secular flock together collectively cooing there’s nothing’s wrong. Alas, today bribing
bureaucrats is de rigueur
wherein instead of success being determined by the rule of law, a businessman’s success is
dependent on the favoritism that is shown to him by the Government. A powerful
trickle down effect where the lowliest rural officials and policemen expect
their palms greased just to do their jobs. With the winner taking it all!
The fiddle is in the process Crony capitalism
operates at three different levels. First you get a Minister, babu, bank Chairman/director and
officials to give you monies to ensure that you don’t have to put your own
money. Thus, you borrow heavily from banks with very little of your own equity.
So even if your venture sinks, it is the banks which lose money.
Two, one ensures that rivals do not get
similar favours. Bluntly, you lobby not only for yourself, but also push
against competitors. Lastly, in regulated industries like aviation, besides
politicians one has to ‘manage’ ex-bureaucrats manning regulatory agencies.
Shockingly,
India ranks at the 9th position in the index of crony-capitalism according to
an Oxfam India’s report. The total wealth of Indian billionaires is 15% of the
GDP, thanks to ‘bhaichara’ and lopsided
policies to favour friends of successive
Governments. Bringing things to such a pass that we are at a stage where we can
no longer look the other way on Ponzi schemes
This apart, a new cronyism has made its debut
in the ‘Hindutva era’: Our New Age Babas who
fancy the trappings of power and status of our political Gods. They revel in
playing footsie, or is it the other way around, with them. This crony synergy
between the Godmen and State is most evident in the way Baba Ramdev is treated.
From being provided Z-plus security to having the State-owned Central
Industrial Security Force guarding his business conglomerate Patanjali is
symbolic of the creeping phenomenon of crony Babaism.
What next? Time we put in place a
clear and transparent regulatory framework and stop crony capitalism riding
roughshod over bona fide businessman. Our netagan
need to cry a halt to political cronyism wherein it spills over into the
business world; self-serving friendships and family ties. Corrupting
public-serving economic and political ideals.
We need to cry a halt to
increasing degradation by conducing our own due diligence, else we lay the
foundation for a weak and pliable polity. An effective vetting process of the
real chaal, charitra & chehra of
our leaders. Think. If individuals
behave irresponsibly, it is impossible for them to establish a responsible
society. Without a responsible society, there cannot be a responsible
State.
Kudos to the Supreme Court which recently
called for a halt to the hedonistic splurging of public wealth by Indian
billionaires and rapped the RBI on its knuckles for being lax in its monitoring
of banks. It has asked the Central Bank to provide a list of defaulters who owe
public sector banks over Rs 500 crores.
Time now for ‘we the people’ to take the bull
by the horns and treat this cancer afflicting our democracy from the panchayat to the Central Government. We
should throw out our petty-power-at-all-cost leaders and rectify the perilous
implications of crony capitalism destroying institutions. When leaders become partners
and the corrupt investigate the corrupt and absolve the corrupt of being
corrupt who will judge the guilty?
In the ultimate, we have elected them to rule
and govern. Our netas need to desist
from becoming surreptitious businessmen. Given that when an undataa becomes a vyapari , the aam aadmi is bound to become garib! Our rulers need to
remember a home-truth: Public accountability is indispensable in a democratic
set-up. With power comes responsibility.
Clearly, Modi has to cleanse the rot in the
political backyard and stop banking on our leaders’ self-proclaimed honesty and
morality. Let the people squeeze the last drop of their “safedi ka chamatkar” to rid the polity of its increasing fifty and
dirt. It remains to be seen if NaMo will walk his talk of cleaning India of
sleaze not only refuse. We need to expose the private mukhota of the public chehra.Remember
when truth becomes a casualty one ends up with only babble and bluster. What
gives? ---- INFA
(Copyright, India
News & Feature Alliance)
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