The editorial, "Wise suspensions" (August 4), has brilliantly put to rest the ongoing debate on "no work, no pay" for MPs and MLAs by stating that the cost to the exchequer from a washed-out session would be dwarfed by the cost to the economy if the present logjam in Parliament continues.If the previous chairpersons of both the Houses of Parliament had taken steps within their powers to restore decorum on numerous such occasions, the  environment for deliberations and debates in Parliament would have been conducive at present. It is not too late for the Opposition, in particular the Congress, to quit the path of disruption leading to anrchy. Forty years is not a short period to learn lessons; or is the Congress trying to challenges the present government to commit a mistake to wash away its own sins?M G Warrier  MumbaiLetters can be mailed, faxed or e-mailed to:The Editor, Business StandardNehru House, 4 Bahadur Shah Zafar MargNew Delhi 110 002Fax: (011) 23720201E-mail: letters@bsmail.

Letters: Make amends

Business Standard

Top five PE deals this yearThe top five deals this year accounted for 29.9% of the total investment in terms of deal value. The largest deal of this year was Centerbridge Partners LP investing $1,157 million in Senvion SE for 100% stake from Suzlon Energy, while Alibaba Group Holding, SAIF Partners Fund III invested $635 million in Noida based One97 Communication for 27.6% stake. This is followed by $500 million made by Carlyle International Energy Partners LP in London based Magna Energy Ltd., and India Value Fund Advisors, TA Associates Advisory investing $500 million in Bengaluru-based Atria Convergence Technologies

A Snapshot of PE activity & deals

Govt stops short of reforming sugarcane pricing

Perennial sugar problem

Follow through on fuel price deregulation

Fuel for thought

Heavy rain had forced the Bharatiya Janata Party (BJP) to call off a rally Prime Minister Narendra Modi was supposed to address in his Lok Sabha constituency Varanasi in July. The party is not taking chances any more. For his August 9 rally in Gaya (Bihar), a waterproof pandal of 100,000 sq ft is being constructed at the Gandhi Maidan. The area has been sealed off and the Special Protection Group is expected to take over the security arrangements in a couple of days. The significance of the PM's visit to the state can be gauged from the fact that the BJP and the ruling Janata Dal (United) [JD(U)] have already embarked on a verbal duel around the event, with the former accusing JD(U) supporters of vandalising its hoardings and posters, and the ruling party members challenging the BJP to produce evidence.

Verbal fisticuffs

An Iranian official, speaking on the nuclear deal and the lifting of sanctions in New Delhi recently, was asked a rather mundane question: How did the Iranian government view the closeness between India and Israel, with speculation rife about Prime Minister Narendra Modi's impending visit to Tel Aviv? The Iranian diplomat gave an answer that left the academicians, foreign policy experts, former ambassadors and media present at the event at a loss for words. He said, "We don't mind whom you make friends with. Our only suggestion is, 'Don't let your friends choose your enemies'."

Good answer

While Prime Minsiter Narendra Modi is rooting for 'smart cities' to give Indian infrastructure and construction companies a leg up, Assam Chief Minister Tarun Gogoi has urged the Centre to turn its attention to developing 'smart villages' across the country. To that end, he has urged the central government to allocate Rs 5 lakh crore nationally and Rs 25,000 crore to Assam; the state government would come up with a comprehensive scheme with a matching share of 50 per cent, he said. "Recasting the rural landscape of the country is the need of the hour as India lives in rural areas," he added.

Now 'smart villages'

The column, "Building a combat vehicle" (August 4), indicates that defence procurement agencies are a confused lot and vital decisions, which should be taken at the earliest, are kept in abeyance.  The typical process is this: all available literature on the equipment is gathered and its multiple characteristics collated. The idea is to include as many features as possible to demonstrate how exhaustively the task has been performed. Thereafter, as the draft travels up the chain of command, it gathers additional parameters, as each officer feels compelled to suggest more improvements. At best this remains an academic exercise.According to the Defence Research and Development Organisation (DRDO), the Future Ready Combat Vehicle (FRCV) is supposed to be a design and development project, to be executed in three stages: design, prototype development and production. This process will take over a decade. Last year, a proposal to procure 2,600 vehicles was scrapped. Indian manufacturers have t

Letters: Don't waste time

With reference to the article, "B-school lessons vs corporate goals" (August 1), there is a delicate relationship between theoretical knowledge and its implementation. The two make up an inverted pyramid, with theory starting at the bottom and expanding upwards with experience. This does not imply that the job efficiency of a theoretically  qualified  B-school graduate is superior to that of an unqualified, but experienced worker. The latter is generally more adaptable to challenging modern market conditions due to sheer work experience and has the ability to take efficient short-term decisions. A qualified B-school graduate should be able to adapt to ground realities. This does not mean that a qualification from a B-school is irrelevant; just that it has to be supplemented with practical exposure.Technology is advancing rapidly and customers and clients are now more demanding. Thus theory has to support job skill experience. The curriculum of B-schools should not lean only on theory;

Letters: Bridge the gap

Amidst growing uncertainties, the Reserve Bank of India (RBI) unveiled the mid-term review of credit and monetary policy on August 4. Turbulence in global financial markets, weakened pace of economic recovery, uneven spread of monsoon and persisting upside risks to inflation have, perhaps, induced the RBI to maintain the status quo on key policy rates.The RBI's stance gives the impression that past rate cuts have not translated into contribution towards the required level of growth. Hence the central bank want banks to act fast by cutting lending rates.There are concerns about the diminishing asset quality of banks, which is consequentially affecting their profit margins. Raising capital also demands attention.When globalisation started taking root in the early 1990s it was predicted that it would lead to more uncertain times and thus require the market regulator to consistently realign policies in tune with market forces. India has long been striving to prop up its growth rate. The RB

Letters: Wait and watch

Raghuram Rajan

In an interaction with journalists after the monetary policy announcement, Reserve Bank of India Governor Raghuram Rajan speaks on various issues. Edited excerpts:

I think, de facto, RBI is independent: Raghuram Rajan

The Reserve Bank of India (RBI)'s decision to keep key policy rate or repo rate unchanged at 7.25 per cent in the third bi-monthly policy is seen by experts as a missed opportunity, as by the central bank's own admission, headline inflation numbers are expected to be lower in July and August but will rise from September when the base effect wanes.

Missed opportunity

More steps needed for agri-credit to reach farmers

Fixing farm credit

Food and oil prices under control, but RBI says no rate cut

An opportunity lost

Bihar Chief Minister Nitish Kumar created ripples in the Bharatiya Janata Party circles earlier this week by heaping praise on its MP Shatrughan Sinha and describing him as the "pride of Bihar". As rumours flew thick and fast that Sinha's wife, Poonam Sinha, could contest the coming state Assembly polls on a Janata Dal (United) ticket, Kumar said his relationship with Shatrughan Sinha was more than "political". While the Chief Minister refused to comment on the speculation around Shatrughan Sinha's wife, the MP denied any such possibility. The next day, however, Shatrughan Sinha shared the stage with Rashtriya Janata Dal chief and Kumar's ally Lalu Prasad at a caste meeting where speakers openly asked him to join the "secular alliance".

Will he, won't he?

Congress MP Shashi Tharoor is in trouble with his party leadership for being critical of the party disrupting the ongoing monsoon session of Parliament. At the other end of the political spectrum, Bharatiya Janata Party (BJP) MP Varun Gandhi has publicly disagreed with his party on the hanging of 1993 Mumbai blasts convict Yakub Memon. The troubles of the two MPs have prompted several conspiracy theories, including how both might be more comfortable if they were to switch parties. A senior politician said the Congress and BJP should trade the two MPs, at least temporarily. This, he said, could lead to a varied experience not just for the two men in question, but also for their political parties.

Switching sides

In a recent post, The Hoot, an online media-watch portal, said that an article by FirstPost.com Editor R Jagannathan - suggesting "Arun Jaitley and Smriti Irani are the under-performers" in the Narendra Modi-led government and that "Modi needs to let go" of them if he wants delivery - was taken down by the news website under "pressure from the management". Soon afterwards, rumour mills were abuzz about a fresh round of leadership change at Network18. On Monday, the article, titled "The Modi government's Achilles Heel" reappeared on Jagannathan's personal portal, rjagannathan.in, adding fodder to the rumour mills.

Return of Achilles heel

External affairs minister Sushma Swaraj, the ruling Bharatiya Janata Party and the Narendra Modi-led government are tying themselves in knots over the Lalit Modi issue. By denying in Parliament that she made no request on behalf of the former Indian Premier League chief to facilitate his travel out of the UK, Swaraj has put her foot in her mouth. On June 14, she had stated on a social networking site that "taking a humanitarian view", she had told the British High Commissioner to India to examine the request for Lalit Modi's travel. She added that if the UK government agreed, this "would not affect its bilateral relations" with India - a departure from the stated position of the previous UPA II government. Can she dismiss the allegation of helping a fugitive, said to be her husband's and daughter's long-time client?Swaraj  needs to reconcile her contradictory statements on this contentious issue that has rocked both Houses of Parliament for more than two weeks and led the Speaker to su

Letters: Time to come clean

With reference to the report, "25 Cong MPs suspended for disorderly conduct" (August 4), it is a pity that our elected representatives indulge in such unruly behaviour in Parliament. The Opposition could have engaged in a debate on the points they had raised and if not satisfied with the outcome, demanded the resignation of the minister in question or boycotted the session. How can they waste public money by not allowing the House to function?The government could also have taken proactive measures to diffuse the situation. Prime Minister Narendra Modi should make his stand clear. His presence in Parliament and a statement from him would have changed the situation. If the ruling Bharatiya Janata Party thinks that because of its absolute majority in the House, it can bully the Opposition and take things for granted, they are living in a fool's paradise. Party managers should learn from the mistakes of the Congress when it was in power.Lok Sabha Speaker Sumitra Mahajan's action of suspend

Letters: Unbecoming of MPs

With reference to the editorial "After a hanging" (August 2), the authority to forgive a killer/rapist should be that of the victim, not of the court or the public. The punishment too, must be promulgated by the victim; we have institutions, in between, to ensure proportionality.Opponents of death penalty would do better to get victims to participate in a referendum on a case-by-case basis. The kin of the 257 people, who were killed in the 1993 Mumbai blasts, are the best judge of whether those who had a role in the attack, should hang or serve jail term. How does one decide whose role in a crime is minor? The steel chain that links two train coaches is minor compared to the whole train, but its importance can hardly be overstated.Regarding the number of verdicts of capital punishment that were commuted to life term, this reflects the change in the public's attitude towards the issue of death penalty, not a systemic problem.Raghu Seshadri  ChennaiLetters can be mailed, faxed or e-maile

Letters: A question of authority

Speaker's decision a first step to ending disruption

Business Standard

Business Standard

Page 415 - Business Standard

Letters: Make amends

A snapshot of PE activity & deals

Perennial sugar problem

Fuel for thought

Verbal fisticuffs

Good answer

Now 'smart villages'

Letters: Don't waste time

Letters: Bridge the gap

Letters: Wait and watch

I think, de facto, RBI is independent: Raghuram Rajan

Missed opportunity

Fixing farm credit

An opportunity lost

Will he, won't he?

Switching sides

Return of Achilles heel

Letters: Time to come clean

Letters: Unbecoming of MPs

Letters: A question of authority