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People and Their Problems
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Home Front Cries For Attention, By Inder Jit, 28 December 2023 |
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REWIND
New Delhi, 28 December 2023
Home Front Cries For
Attention
By
Inder Jit
(Released
on 27 December 1983)
Thoughts in New Delhi as elsewhere are increasingly turning
to the New Year, now round the corner. What will 1984 bring? Will Orwell be
proved prophetic and his nightmare come true? Will the new year be better than
1983? Expectedly, not a few have drawn up annual balance sheets for the state
of the nation. Many among New Delhi’s ruling elite are busy back-slapping each
other. They see the year that has rolled by as a year of triumph and glory.
Everything appears great. “Look at NAM. And, look at CHOGM”, they say. “We have
proved we are as good as the best in the West. Both the summits were
undoubtedly a great success. Both have proved once again that we Indians can do
it -- as in the case of the splendid Asiad. India’s reputation has shot up in
the world and Mrs Gandhi is today acknowledged as one of the world’s most
outstanding personalities. Nothing proves this more than the praise showered on
her by the President of the UN General Assembly, Mr Jorge Illueca, on the
concluding day of the 38th session.
But there the kudos must end. Success
in holding summits -- in New Delhi and in New York -- is no doubt something of
which any country can be proud. But it does not add up to very much in the
total national canvas when all is said and done. New Delhi today is
undoubtedly beautiful and resplendent as never before. It compares with the
best world capitals. It brought Mrs Gandhi many compliments from visiting heads
of Government both during NAM and more recently during CHOGM. However, it would
be folly to get carried away by polite compliments from visiting guests. New
Delhi, as every visiting VIP knows, is not India. What is more, it is not even
Delhi. The world is impressed not by outward show but basic strength. In fact,
not a few diplomats are intrigued by our astonishing capacity to be influenced
by mere floss. They are right. We seem to be living from one summit to another.
It's time our leaders took a holiday from foreign affairs and devoted thought
to the home front which cries out for attention.
There is much that Mrs Gandhi can do in the months
available to her between now and the poll. Image building and public relations
are undoubtedly important and have yielded Mrs Gandhi fantastic dividends.
Ultimately, however, people are concerned with their day to day lives, which
have not received adequate priority either from Mrs Gandhi or her planners. To
mention a few things. We have spent thousands of crores of rupees in importing
foodgrains and building up buffer stocks. Yet we could have saved ourselves all
this money if only the Government and, more particularly, the Prime Minister
had devoted adequate attention to irrigation, as spotlighted by the Public
Accounts Committee during the Chairmanship of Mr Satish Agarwal, formerly a
Janata Minister. India, according to the 1982-83 PAC report, had planned an
additional irrigation potential of 30 million hectares for major and medium
projects. But irrigation created after years planning totals only about 20
million hectares. Had the full potential been created, we could have produced
25 million tonnes of grains additionally and been in a better position to hold
prices.
Not only that. Equally scandalous is the lackadaisical
implementation of eight major irrigation projects such as the Rajasthan Canal, Nagarjunasagar
and Kosi-Gandak. All these projects continue to lag way behind their targets
for the past 20 years or so, resulting in an astronomical cost run, apart from
the loss caused on account of delay in reaping the benefits. The Rajasthan
Canal was originally to cost Rs 55 crores. It is now estimated to cost Rs 100
crores. Had the project been completed speedily and on time, it could have
yielded anywhere from 2.5 million to 3 million tonnes annually! Not many today
remember the wise advice tendered to the Government of India by Mr Robert
McNamara when he visited this country in November 1968 as the President of the
World Bank. He was firmly of the opinion that India should give top priority to
the Canal and complete it speedily. “I would do this if I were you”, he said in
so many words, and added: “It will transform not only the face of Rajasthan but
of India.” Alas, his advice was not heeded.
Time and again, Mrs Gandhi has claimed that the common man
today is doing much better. True, he has now the Maruti, priced at Rs 47,500,
dedicated to him! The Government also claims that 57 million people have been
raised above the poverty line in the past three years. (The number is stated to
have been brought down from 339 million in 1980 to 282 million at the end of
1982. Person’s earnings Rs 65 per month or more are said to be above the poverty
line.) Is this really so? Claim is strongly contested not only by the
Opposition leaders but also by Dr Malcolm Adiseshiah, a well-known economist
and a nominated member of the Rajya Sabha. Dr Adiseshiah holds the view that
the Government figures are based on the erroneous assumption that real incomes
have increased uniformly in 1980-81 and 1981-82 in all expenditure classes,
including the poor. Of interest in the context of the common man is the fact
that the per capita availability of foodgrains has fallen from 175 kg per annum
in 1964 and again in 1978 to 155 kg in 1982-83.
That the poor majority continues to be subjected to
deprivation is also borne out by the price trend. The wholesale price index was
185 in March 1977 when the Janata Government came into office. It went up to
212 by July 1979 when the Morarji Desai Government fell -- an average increase
of 1 pt per month. It rose thereafter from 212 to 225 under Mr Charan Singh --
an average increase of 2 pts per month from July to December 1979. After almost
four years of rule by Mrs Gandhi, the index now stands at about 320 -- a rise
of 95 pts over 48 months or an average increase of 2 pts per month. There has been
a steady rise in both wholesale and consumer prices in the first five months of
1983-84. The average works out to 6.9 per cent for the wholesale price index.
Dr Adiseshiah estimates that the wholesale prices will rise by around 7 to 8
per cent and consumer prices by 10 to 11 per cent during 1983-84. What,
however, is most disturbing is the sharp rise in the prices of essential
commodities -- a rise of 13 per cent in wholesale prices of primary food
articles alone!
Little has been done to ensure adequate return from the
public sector, which adds up to a staggering investment of some Rs 30,000
crores. Mrs Gandhi has been issuing directives again and again. Most of these
have got headlines on the front pages of newspapers. These may please Mrs
Gandhi and her penchant for public relations. But they have so far not yielded
the long-promised results. Regrettably, the public sector continues to be
treated as a milch cow. No one, not even the Prime Minister, regards the
investment as a national trust. No one insists on a minimum return. A
commercial return of 20 per cent should net the country Rs 6,000 crores per
annum which would in one stroke obviate the need for additional taxation and
deficit financing. (Why commercial return? Many public sector undertakings are
today seeking deposits at 15 per cent.) The total investment should yield a return
of Rs 4,000 crores at 15 per cent and a little less at 12 per cent, offered by
the Post Office.
Few have given any thought to the increasing tendency among
Government leaders to distribute patronage and help friends (and financiers)
through exemptions from customs and excise duties -- something that has
prompted the demand for a Committee on Taxation Expenditure as in the US. (“We
have a Committee on papers laid on the table of the House,” says Mr Satish
Agarwal. “Why can't we have a Committee to go into tax exemptions by executive
orders? Some 300 to 400 notifications are issued annually. These add up to a “relief
of some Rs 2,500 crores.”) A case in point is the latest exemption of customs
and excise duties for big cars. The exemption was intimated to the Lok Sabha on
Wednesday by the Minister of State for Finance, Mr Pattabhi Rama Rao. Mr
Agarwal sought information on two points: the extent of revenue loss and
whether blanket exemption had been given for all fuel cars exceeding 1000 ccs.
Mr Rama Rao replied that he would send the details to the member -- and left.
The exemptions are estimated to benefit the big car manufactures by some Rs 400
crores!
Not a little thought requires to be devoted to the mounting
problem of debt repayment. Plans have been drawn up for pushing up exports to
Rs 30,121 crores by 1990-91 as against imports totalling Rs 30,010, leaving a
favourable balance of Rs 111 crores. (Imports during 1983- 84 are expected to
total Rs 15,000 and exports Rs 10,467 crores leaving an adverse balance of Rs
4,933 crores.) But experience does not encourage such optimism. In fact, if the
current propensity (and recklessness) is any indication, we should be lucky if
the present adverse balance does not grow. A leading MP said: “You should not
be surprised if we start importing even sugar of which we have a glut.” The
need for tightening imports and plugging loopholes has become all the greater
following Washington’s decision to refuse to agree to a level of $12 billion
for IDA-7 (the seventh replenishment of the International Development
Association.) President Reagan’s decision to stick to $9 billion will mean less
for India, now that China has become a member. India has been a major IDA
beneficiary so far.
All in all, the year that has rolled by has been rather
barren in terms of achievements. (Yes, we had a record production of
foodgrains. But the credit must go essentially to the weather gods. Thirtyfive
years after freedom, our agriculture and budget continue to be a gamble in
monsoons!) The problems we inherited in 1983 are still with us and, if
anything, have become worse as in the case of Punjab and Assam. Regional tensions have grown and so also confrontation
between the States and the Centre. Law and order has worsened and more and more
people in rural areas are being forced to fend for themselves. Corruption
continues to grow by leaps and bounds and the country today is witnessing the
biggest ever loot in its history, notwithstanding Mrs Gandhi’s repeated
promises to stamp it out. Parliament, administration and other institutions
have suffered further erosion. Truth is at a greater discount than ever before.
Summits and conferences have their use in today’s increasingly interdependent
world. But we need to come down to terra firma, pull the economy out of the rut
and tackle the country’s many problems clamouring for solution. The world
respects only those who are strong. -- INFA.
(Copyright, India News and Feature
Alliance)
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Electoral Politics: GIMMICKS OR REALITY CHECK?, By Dhurjati Mukherjee, 27 December 2023 |
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Open Forum
New Delhi, 27 December 2023
Electoral Politics
GIMMICKS OR REALITY CHECK?
By Dhurjati Mukherjee
INDIA
bloc’s decision to give top priority to seat-sharing for 2024 general elections
is in the right direction, but it would do well to have partners share
assessment of the electorate’s outlook to plug loopholes and engage with it through
a combined strategy. Moreso, as understanding electoral politics is difficult given
that calculations go awry as witnessed recently.
The
gimmicks in Indian politics are intriguing. Moreover, as majority of the
electorate is uneducated, or half educated and fails to comprehend the real
motives of politic parties. Corruption charges against leaders of the ruling
dispensation in Madhya Pradesh, Chhattisgarh and Rajasthan, for example did not
quite bother the masses. Charisma instead held sway and issues that mattered
got relegated to the background.
Another
important factor that needs attention is the propagation of aggressive Hindutva
that swayed the masses in favour of the BJP. This despite such an approach being
harmful to the social integration and alienation of minorities in the socio-political
development. As the CPM editorial in its party organ, People’s Democracy
aptly pointed out: “The basic failure of the Congress has been its inability to
confront this reality (Hindutva consolidation that has created an ‘over-arching
pan-Hindu identity’)”. But it shouldn’t apply to the grand old party alone,
bloc partners need to counter it with as much conviction, as lack of education and
awareness among the poor, is making them believe in the so-called misrule of
Muslim rulers of yesteryears.
The inauguration
of the Ram temple in Ayodhya in January 2024, will again impact those who are enamoured
with the Hindu ethos. But it can’t be considered as true Hindu religion, in the
backdrop of reading the philosophical propositions of Swami Vivekananda,
Mahatma Gandhi and even later interpreters such as Dr Sarvapalli Radhakrishnan,
Swami Rangathananda etc. The INDIA bloc would need to work around it and reach
out to voters.
At the
same time, parties and their leaders would need to stress on grass-root
development and not get caught in populist tendencies to attract and win voters’
sentiments. The freebies announced by Congress, had rival BJP doing the same,
be it free bus rides or cheaper gas cylinders. There was hardly any promise
about reviving the economy and deterioration in conditions of living of the
rural poor and the surge in unemployment rates over the years.
Recall, Congress
leader and former Finance Minister Chidambaram recently quoted the PLFS to say
that the Workers Population Ratio (WPR), the share of working people in the
population, was 46%, including 69% for men and 22% for women. It is estimated
that less than 50% of them actually work. The unemployment rates for graduates
below 25 years of age are 42% while among the employed, 57% are self-employed,
which means that their earnings are low. He also said that rising prices of
essential commodities combined with unemployment had affected the purchasing
power of the people. As a result, the net financial savings of households
reached a historic low of 5.1% in 2022-23. But the message didn’t get to the
voters or was unfortunately ignored in the din of freebies coming their way.
The
looming agricultural crisis, acute job scarcity, poor education and health
services, lack of rural infrastructure development, dysfunctional cities,
broken judicial system and rampant environmental damage to the ecosystem were
not areas of concern for the ruling party. No plan was given to address these
development deficiencies and widening disparity in the incomes of the rich and
the poor, of the urban and rural sectors, of the formal and informal, sectors
did not find elaborate mentions in the campaigns of the BJP though the Congress
tried to highlight these issues and was obviously unsuccessful. The crux
of the matter is that the voters are not able to judge and understand the
manipulative techniques of the political parties.
While
religious fundamentalism has been used to brainwash the half-educated and uneducated
sections, the clamour that India is set to become the third largest economy,
banking on the wealth accumulation of the corporate groups is being highlighted.
The ‘excellent’ performance of the country’s economy has been used to win
hearts of the educated/elite who are oblivious of India’s backward regions.
Various global agencies are painting fantastic pictures of the country’s
economic development without considering the incomes of the lowest 25 per cent
of the population. Even if the GDP grows at around 6.5% this fiscal, will it
lead to perceptible income growth of the lowest 25% of the population?
India is
currently said to be the fifth largest economy with a GDP of $3.7 trillion and
the leaders are talking of becoming the third largest economic power by 2030. A
vision document prepared by Niti Aayog has shown that India will be a $30
trillion developed economy by 2047 but the document has failed to reveal the
income growth of the poor and the economically weaker sections during the last
decade or so. This is because there’s been no growth in their incomes.
A professor
at a national conference expressed concern that the rich drive to big hotels
passing through slums and shanty settlements but are least bothered to reflect
on it. Even the undersigned, who has lectured in many institutes, including government’s,
finds that the bureaucracy is least perturbed over the poverty and squalor
existing in rural and backward areas and fails to define true development,
unless directed to. For it, development is something that benefits the middle-income
sections, normally residing in cities and towns.
Thus, ruling
dispensations, aided by the bureaucracy, have not paid the attention that the
rural sector or the backward areas deserve. Electoral politics is increasingly
getting carved out on gimmicks and false promises which voters hardly remember or
fail to question later. Even a major part of the media fails to highlight the
challenges and question the government about providing shelter to displaced
cyclone victims or potable water in every tribal village.
Tragically,
politic leadership is not all that sincere in its approach towards ensuring
welfare and well-being of the silent minority who have to struggle for a living
or bereft of the benefits of schemes and programmes announced. If India is
really to become a developed country as is being aired time and again, there must
be a change in strategy. More attention is needed for rural sector and an
action plan formulated for upliftment of the poor or the less privileged in the
coming term of office of the new government. INDIA bloc needs to do its
homework right. ---INFA
(Copyright, India News & Feature Alliance)
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Wrestling With Power: TIME FOR RADICAL MAKEOVER, By Poonam I Kaushish, 26 December 2023 |
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Political Diary
New Delhi, 26 December 2023
Wrestling With Power
TIME FOR RADICAL MAKEOVER
By Poonam I Kaushish
If we do not maintain justice,
justice will not maintain us, said Francis Bacon. This comes to mind over our
wrestlers grappling with power. Indeed, it was a sad day for wrestling when Olympic
medalist Sakshi Malik announced that she was quitting the sport last week and
another medalist Bajrang Punia gave up his Padma Shri award until justice was
given to his “sisters and daughters” fighting against sexual harassment and
their perpetrators.
The cause célèbre? Five-time BJP MP
Brij Bhushan Singh accused of sexually harassing and exploiting female wrestlers
and against whom pugilists have been agitating for nearly a year, acolyte
Sanjay Singh winning elections to the Wrestling Federation President’s post.
True, a politician or his aide
winning an election to an administrative post in a sports body is par for the
cours given sport is riddled with proliferation of netagan seeking to soak in the popularity of sport and sportswomen.
Of course, the hold of leaders on the electoral processes of sports federations
cannot be legally challenged. Example: Bhushan was running WFI from his
official residence.
Also true, if Bhushan had not been a
bahubali with a huge following among
Rajputs and who holds the key in reportedly, 10 seats in Gonda UP, he may have
been counting bars as a Pocso case is registered against him. However, such is
his political clout that any action against him could affect BJP’s prospects in
the State.
Consequently, he remains not only
free while courts take their time over cases registered against him, but also
is much feted as a leader with an outsize influence on wrestling till he became
ineligible. So what if he is not a saint having around 40 cases against him?
The UP bahubali has admitted to
committing a murder and gone to jail.
Undeniably, wrestling is not the
first sport to witness allegations of sexual exploitation of young athletes of
both sexes. Look at Haryana Sports Minister and ex-hockey captain Sandeep Singh
who too has been accused of sexual abuse by a junior coach. He remains a
Minister. However, the allegation against Bhushan is an extreme case that
athletes ran into a political brick wall despite top wrestlers throwing their
all into opposing him since January.
Happily, amid huge outcry over Singh’s
election, the Sports Ministry suspended WFI for its “hasty announcement” of
organising U-15 and U-20 nationals “without following due procedure and not
giving sufficient notice to wrestlers” for preparations. Asking Indian Olympic
Association to form an ad-hoc panel to manage and execute WFI’s roles and
function.
In sync, Bhushan announced his
resignation from wrestling after meeting BJP President Nadda. Even as aide
Singh states he will talk to Prime Minister Modi, Centre and Ministry to prove
no rules were violated. Sic.
Nevertheless, the Government’s
action is only quick fix. The malaise in WFI runs deep and the sight of elite
wrestlers hitting streets, sparring with authorities, being evicted from
Delhi’s Jantar Mantar, quitting the
sport and returning national honours does not do justice to the country’s
aspiration of becoming a sporting power. Given the United World Wrestling not
only expressed its unhappiness with the sordid saga but also suspended WFI.
Besides, with seven medals,
wrestling is India’s most successful individual sport at Olympics and for many
girls specially in Haryana it is an aspirational game which provides social
acceptance.
Privately, a senior sports
administrator avers, Government’s action was a face-saver without openly
acknowledging a mistake in handling la
affair Bhushan.
Alas, over the years power
structures in sports federations often overlap political power whereby politicians
have usurped positions of control and operate them as their private fiefdom. Thereby,
creating conditions that enable abuse of authority.
A sad commentary on society that our
rulers should hold such sway and have their way even in sports administration. Perhaps
it has something to do with our patriarchal lineage and misogynistic culture.
Whereby, we show utter disregard and disrespect for women.... rape, marital
rapes, sexual assault and systemic harassment et al.
Clearly, in a society which lives
with the regressive mindset that freedom and equality for women tantamount to
promiscuity, we swing between two extremes. One where a girl child is bad news
and nurtured on “conform” paranoia: Not to rock the boat, be fearful of what
lies around the corner and subjecting them to countless restrictions in the
name of women’s protection. Whereby fathers make the rules, husbands enforce
them and male bosses reiterate them, speaking out against someone’s wrong doing
is tough.
Notwithstanding the #Me Too
campaign, in a culture where the national narrative conditions people to think
that sexual harassment has no consequences; where sex crimes are dismissed as
result of an imbalanced sex ratio; and where women have little or no cultural
respect, it is going to be a steep uphill to change what is just ‘normal’.
Where does one go from here? Given
that this oppressive atrocity against sportswomen will get worse, not better. All
eyes are on what happens in this case. Clearly our leaders need to pay heed and
address this seriously. Undeniable it is a wake-up call for change. Change our
approach to sexual harassment. One option is radical feminism to make a social
impact and safety of women an important article of faith with people, society
and Government.
Our leaders need to pay heed and
address this seriously. Underscoring, the urgent need to create a safe space
for athletes, especially women. Laws should be tightened which would deter men
to think thousand times before they commit crime, along-with transparency,
accountability and good governance. Only then can India truly become a sporting
powerhouse and fulfil the aspirations of its talented athletes.
One hopes the Government’s latest
action is more than just image management and it uses the opportunity to
clean-up WFI governance, carry structural changes, addresses wrestlers concerns
and creates a sport and a federation worthy of sports. Alongside quickly finish
investigation and prosecution of Bhushan which was set in motion by wrestlers
charges of sexual harassment against him and a chargesheet filed by Delhi
police over six months back if justice is to be done and WFI run in spirit of
rules established.
Towards that end, the National
Sports Development Code 2011, a legally binding framework to ensure that sports
federations which have a monopoly and receive public funding are made
accountable should ensure wrestlers kushtee
with power get justice. As merely mouthing platitudes of impartiality and
fairness will no longer work.
However either which way, our
pugilists have identified their predators and they will determine what happens
next. Surely lies have no legs but truth is the best defense. We need cry a
halt to women being playthings of voyeuristic men. Will we break new ground and
unshackle women? One hopes this will
have a knock-out effect on other federations and trigger greater accountability.
What gives? ---- INFA
(Copyright, India News & Feature Alliance)
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Cybercrimes Burst Stocks!: SEBI BOOKS 150 AGENTS, By Shivaji Sarkar, 25 Decembe 2023 |
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Economic Highlights
New Delhi, 25 December 2023
Cybercrimes Burst Stocks!
SEBI BOOKS 150 AGENTS
By Shivaji Sarkar
The
stock market behaves awry again, acting like replica of the 1992 Harshad Mehta
boom-bust syndrome. It zooms and goes for “course correction”, a phenomenon the
Security Exchange Board of India (SEBI) repeatedly failed to check despite its
warnings.Anonymous operations on the digital and social media siphon off
substantial gains, may be billions, a day. The cybercrime engulfs the stock
trading and SEBI has warned people to keep off Telegram and other platforms.
The BSE Sensex
rise to 72000 before a sharp sell off on December 20 looks like myth. It calls
for investigations for nabbing the people, who fled with profits and dumping Rs
9 lakh crore losses on poor mutual fund type investors. Most pension, provident
and other similar funds bear the brunt. Detailed probe of the banks getting hit
would bare how the country’s working class suffer. Despite some recovery next
day, the overall trend is considered “subdued”. May be the market suspects some
opaque operations.
Foreign
portfolio investors (FPI) sold Rs 1322 crore shares and domestic investors Rs
4754 crore, implying retail investors would have sold more. The market is
likely to continue its fall for the next many weeks.
The
tanking of Nifty by 1.4 percent and Sensex by 1.3 percent is being dumped on
the Singapore circulated JN.1 virus mask mandate. It may not be so. The virus
threat in China has been there before the 26 rallying began on October 25,
almost synchronising with the five states’ election campaigning and continued
after the December 3 results. The broader markets saw a bigger fall, with the
Nifty Midcap 150 and Nifty Smallcap 250 tanking 3 percent each.
Kotak
AMC Managing Director Nilesh Shah tries to lighten the bust saying that
anecdotally, after a rally as long as the latest leg, markets have tended to
correct. “The past 30 years have shown us that the market tends to correct
after a seven-week-long rally”. A profound statement. The market players know
how the bubble forms and hit various mutual type funds for scooping out profits
out of poor investors’ pockets.
The
big-ticket companies such as Coal India, Tata Steel, Adani Ports and Adani
Enterprises lost around 6 percent. The worst hit among the small and mid-caps
are most banking-related companies - Indian Overseas Bank, Indiabulls Housing
Finance, UCO Bank, IRFC, Yes Bank, Indus Towers, Piramal enterprises Indus
Towers and Ratan India Enterprises - lost 7.5 percent to 10 percent.
Some
experts in the disinvestment ministry possibly could have smelt the market
methods and advised the government to reduce the divestment target. No
big-ticket sales are planned. It has put off stake sells in IDBI Bank, Shipping
Corporation of India, BEML and Container Corporation of India. Even BPCL sales
that could have fetched around Rs 60000 crore have been put off. Thaw is likely
for other divestments for 2024-25 stake sales of RashtriyaIspat Nigam, Air
India (AI) Assets Holding Ltd as well. Last year, Central Electronics Limited
divestment was also scrapped. Some minor divestments fetched about Rs 10,050
crore against 2022-23 targeted Rs 65000 crore revised to Rs 51000 crore in the
current budgetary investments.
Still the
department of investment (Dipam) is exploring possibilities of 14 transactions,
Minister of State for B KishanraoKarad recently told the Rajya Sabha.The
government caution perhaps followed SEBI action against manipulating agents and
rising cyberattacks on the Bombay Stock Exchange, including a malware attack.
SEBI Chairperson Madhavi Puri Buch says cyber risks are rising. In June 2016 it
busted an alleged Pakistani-based attack on the bourse. It has acted against 46
YouTubers for manipulating stock prices in 2022.
The
system is complicated. In June 2023, the SEBI barred 135 market manipulators
through an interim order. They were told to pay penalty of Rs 126 crore for making
wrongful gains from stock manipulation of crore of small-cap companies.
They
manipulators engineered a mechanism that was a kind of an insider trading
though technically cannot be termed so. Different share trading companies
formed a cartel for selling shares of some listed companies among themselves.
They jacked up the scrip prices. Together through social media and other
campaigns for their chosen scrip showering ‘bonanza’. The SEBI found that these
entities were manipulating shares of five listed companies -- Mauria Udyog, 7NR
Retail, Darjeeling Ropeaway, GBL Industries and Vishal Fabrics.
The SEBI
says that the tricks pushed up stock prices by trading among themselves and
followed it by sending purchase recommendations to the public through holding
‘online workshops’, text messages and websites. Methodology created an atmosphere
of ‘mock’ education on share market and giving specific suggestions on which
low-selling shares people should invest.
There is
a suspicion on the operations of various social media platforms, including
Facebook conniving with the stock operators. The platforms allow linking up
different systems, anonymous functioning and loot of billions. The supposed
“tutors” teaching the investors never share their names, identities, address of
themselves or the companies they are working for. Many agents have phone
numbers of UK, South Africa and other countries.
One
wonders how Facebook type platforms keep these operations in shrouds linking up
WhatsApp-Telegram and protect anonymous activities without any
know-your-customer system being implemented. They work anonymously using fake
sims against all rules set by the RBI and vanish suddenly. Fake job
advertisements are used to lure people to their platforms. The Facebook has
created a system of linking up operations on different platforms so that the
perpetrators could escape police and other security nets.
The SEBI
cracked the whip on some other stock recommendations as well. In April, it
barred six individuals from the securities market for one to three years for
passing false tips on Telegram.
Cyber
crimes are making deep inroads and expanding to different areas rocking the
economy. They have high concentration in the national capital territory of
Ghaziabad, Noida, Faridabad, Nuh, and neighbouring Delhi areas. Their complex
operations need difficult coordination among different states, central police,
information technology and other agencies to insulate the banking, financial, stocks
and various other activities.
The
situation may be worse than the Harshad Mehta scam as opacity is high. It needs
crash action to bust the national and international syndicates as also to pay
compensation to victims. ---INFA
(Copyright, India News & Feature Alliance)
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Five Soldiers Killed: JAMMU, CAUSE FOR CONCERN, By Insaf, 23 December 2023 |
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Round The States
New Delhi, 23
December 2023
Five Soldiers Killed
JAMMU, CAUSE FOR CONCERN
By Insaf
Alarm
bells ring in the Jammu region of J&K. Developments in its districts and
the city itself are turning out be of serious concern for North Block. On
Thursday last, five Army personnel were killed and two injured after terrorists
ambushed two Army vehicles in Poonch district. It is said the terrorists,
perhaps three or four, took their position on hill tops and chose a blind curve
to target the Army vehicles. Worse, they reportedly ‘mutilated the bodies of at
least two soldiers and took weapons of some of them’. While the security forces
have launched a massive cordon and search operation in the forest area, the
incident is the second in last two months. This ambush comes weeks after a major gunfight in Bajimaal forest area in
nearby Rajouri district that left five Army personnel, including two captains,
dead. Clearly, the rising number of terror attacks in Rajouri-Poonch
region suggests that terrorists are getting emboldened, there is need to strengthen
intelligence and security setup in the region and time the focus shifts from
Kashmir.
* * * * * * *
This
apart, a crackdown of a different kind is taking place in J&K. Not against
terrorists or those harbouring militants, but against Rohingyas, who have taken
shelter in Jammu following persecution in Myanmar. Tuesday last, Jammu police
led a day-long drive to arrest/detain people ‘harbouring Rohingya immigrants
and facilitating their stay with illegal papers’. Action’s been taken against
over 50 people and dozen-odd FIRs registered ‘posing potential threats to
national security and socio-economic fabric of the UT.’ Some elements, said
IGP, ‘have been involved in facilitating illegal settlement of Rohingyas, and
other than security concerns, these have potential to strain local resources.’
The locals in 30-odd settlements, he added ‘have provided their plots of land
to settle the outside immigrants. We are checking and identifying these
facilitators, also availing government benefits for them…They have taken it as
a business.’ So far number of documents like Aadhaar cards, ration cards, voter
ID cards, revenue records, rent deeds and passbooks besides mobile phones and
SIM cards have been recovered. Hope innocent people, as in the past, are not
wrongly targeted. And that Jammu’s security concerns are promptly addressed
holistically.
* * * * * * *
Delhi Boo To ED
Delhi
Chief Minister Arvind Kejriwal has said a big boo to the ED and stuck to his
schedule of meditation instead. Summoned (second time) for questioning on
Thursday last in the excise policy case, he said it was ‘not based upon any
objective or rational yardstick but purely as a propaganda’ and to ‘create
sensational news in the final few months of much-awaited parliamentary
elections.’ In his reply to ED, he wondered about the timing-- on eve of his
departure for a 10-day Vipassana session, (he’s attending annually for past 25
years), which was ‘widely published and largely circulated’ in media and
officially announced’. Worse, he asked who was being summoned: “a witness or a
suspect” or as “chief minister, Delhi or AAP national convener”? The summons
must be ‘revoked, withdrawn, and recalled,’ for these he alleged were at
‘behest of political rivals who wish to silence the opposition’s voice’ against
the Centre. Importantly, AAP has claimed these ‘were not in consonance with
law’ and it would take ‘legally correct’ steps. Nagging suspense alright?
* * * * * * *
Coordination
Amiss In TN
The infamous Governor-Chief Minister row sees no let-up even
amid unprecedented rains causing havoc in southern Tamil Nadu. Efforts from
defence, national/state disaster response forces are underway, but sadly there’s
lack of coordination between Governor Ravi and Chief Minister Stalin, with both
holding separate meetings for rescue and relief works. The region has come to a
standstill, 10 people died and families and trainload of people stranded for
days. While government listed relief works undertaken, it blamed the IMD for ‘wrong’
forecast and not ‘sufficiently forewarning of what was
coming’; asked Centre for maximum choppers and Stalin went to Delhi instead to
seek more aid. Governor Ravi on other hand held a meeting at Raj Bhavan, wherein
it was said that agencies ‘have no clear idea’ about the exact resource
requirements and priorities in deployment, due to lack of coordination and a ‘lack
of appreciation’ of overall situation. Ravi asked agencies to mobilise
additional resources and assured he would facilitate more resources from
Central agencies. Regrettably, government representatives skipped the meeting!
When will this storm settle down?
* * * * * * *
Maha Time Schedule
The New Year should see Maharashtra settle some
nagging issues. On Wednesday last, Speaker Narwekar said he sees no hurdle in
issuing an order by 10 January (set by Supreme Court), on petitions filed by
rival factions of Shiv Sena on disqualification of each other’s MLAs, as
hearings have finally concluded. Both SS sides led by Chief Minister Eknath
Shinde and Uddhav Thackeray’s SS-UBT have been heard, but only after a rap by
SC over the long delay. Likewise, Shinde informed the Assembly that a special
session shall be held in February, if necessary, to provide reservation to
Maratha community after reviewing a report of Backward Class Commission. The
government, he assured ‘will establish’ the community is socially and
educationally backward, deserves quota. But Maratha activist Manoj Jarange warned
they won’t wait till then and shall hold protests if quota is not granted
before December 24. A big question mark hangs though on the how the government
will settle controversial Dharavi’s redevelopment plan. The residents of one of
the world’s largest slums are protesting the project and no work has begun these
past six months! Guess, the phrase ‘time is of the essence,’ is not in
government’s dictionary as the three cases reveal.
*
* * * * * *
MP Portrait Row
Madhya Pradesh
Assembly does both ‘right and wrong’, triggering a controversy. India’s first
Prime Minister Jawaharlal Nehru’s portrait has been replaced with father of the
Constitution BR Ambedkar’s. Predictably, Congress has charged ruling BJP of
disrespecting the ‘nation builder’. While it welcomed Ambedkar’s portrait in
the House, starting its 1st session, removing Nehru’s it was wrong.
At same time, it failed to notice the replacement, which happened in last
session, in July. Then Speaker had directed replacement of Nehru’s and Gandhi’s
portraits as these ‘were getting worn out and be restored.’ But as Ambedkar’s
125th birth anniversary was being observed, he directed to put it in Nehru’s
place and Nehru’s portrait be kept ‘in a respectful manner in the library’s
Gandhi-Nehru section.’ An X post of Congress read: “If BJP had honest
intentions, it could have placed Nehru’s photo along with Gandhi and Ambedkar.
But it’s BJP culture to disrespect freedom fighters and the nation-builder and
therefore, it has removed the photo of Nehru.” The big picture alright! ---INFA
(Copyright, India News & Feature Alliance)
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