Questions about Coal India's massive dividend

Milking the public sector

Business Standard

Inflation moderates, but a rate cut unlikely

Still no room for RBI

In the past, Information and Broadcasting Minister Manish Tewari had administered Prasar Bharati CEO Jawahar Sircar a comprehensive snub by telling journalists he did not know who Sircar was. Now, his relationship with Sircar appears to have taken a U-turn. At an event recently, Sircar and Tewari, both of whom were fairly public about the fact that they did not see eye to eye on various issues, seem to have patched up. Sircar even complimented Tewari, saying he has rarely seen a minister as articulate and bright. Tewari will go a long way, Sircar added. Tewari seemed to have enjoyed the accolades and clapped the loudest when Sircar finished speaking. A sign that elections are nearing and each needs the other, perhaps?

Friends indeed?

The Aam Aadmi Party (AAP), which is getting ready to make its debut in the general elections, is keeping journalists on their toes. That's because AAP functionaries work even on the weekends and holidays, including, once, on Sunday. When a journalist jokingly asked a top party leader when the party was likely going to make a big announcement so that he could schedule a vacation, he received this drily witty response: "Well, the party will be working constantly till at least the end of May...Why don't you go on a holiday only after that?"

May days

It is not unusual for journalists to receive multiple messages and emails from the Press Information Bureau (PIB) for a press conference or announcement by the ministry of housing and urban poverty alleviation (HUPA). But the PIB recently surpassed itself by bombarding journalists on Monday, Tuesday and Wednesday morning with at least a dozen reminder text messages and mails for a conference that was to be held on Wednesday afternoon - at which minister Girija Vyas was scheduled to talk about a housing start-up index. That wasn't all. The lavish lunch at Le Meridien saw record attendance, mainly of people from the Housing and Urban Development Corporation and the HUPA ministry. Vyas' speech was on the number of housing units being built for slum dwellers and migrants across the country, which explained the flurry of reminders to journalists (elections are round the corner, after all) but not the huge numbers of non-journalists present.

Present and eating

This refers to "Picturing Nehru" (Chinese Whispers, January 14). Narendra Modi has more than once displayed a lack of knowledge of the history of the country of which he aspires to be the prime minister. By saying that "it was the wish of every Indian's heart that Vallabhbhai Patel, rather than Nehru had become prime minister in 1947", he shows that he is not aware of the extent of Jawaharlal Nehru's popularity with  the masses when he ascended the prime minister's chair in 1947. The desire around 1947 that Patel be the prime minister was expressed not by "every Indian" but by some 14 out of 16 Provincial Congress committees; and the desire of people prevailed over that of the party in choosing Nehru. The fact is that Patel, an organisation man, was not well known then in many parts of India.Patel emerged as a giant, unequalled in stature by any living leader except a few, in  the last years of his life, after he managed to integrate 562 semi-independent princely kingdoms into the Indi

Letters: Retrospective wisdom

This refers to the editorial "The wrong growth" (January 14). Even as the government is struggling to balance economic growth and inflation, slow job generation has added to the complexity. The structural problems of the economy could be traced to its transition from agriculture to the services industry, mostly bypassing the manufacturing sector. Thus, while the contribution of agriculture to the gross domestic product (GDP) shrank from 55.3 per cent in 1950-51 to 21.8 per cent by 2009-10, it still contributed 53.2 per cent to total employment. But the services sector, which commanded 53.7 of the GDP by 2009-10, provided just 25.3 per cent of the jobs. On the other hand, the manufacturing sector offers accelerating growth and better job opportunities. It is reported that the government has cleared 300 projects worth Rs 6 lakh crore. However, the investment-consumer path in manufacturing has many hurdles to cross in the form of multiple licences, labour laws and a labyrinth of restricti

Letters: Complicated equation

This refers to the editorial "In reverse gear" (January 15) The Aam Aadmi Party (AAP)'s reversal of the Congress' considered decision of allowing foreign multi-brand retail in Delhi is a disservice to farmers and the common man. Besides generating employment, foreign supermarkets will eliminate middlemen and procure goods directly from the farmers - paying them a better price for their produce - and provide quality products to consumers. For forming the government, AAP went through a referendum and proceeded only after getting the nod from the majority of the people in Delhi. Why not have a referendum on this crucial decision banning foreign multi-brand retail?M C Joshi  LucknowLetters 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.inAll letters must have a postal address and telephone number

Letters: FDI for thought

LAST WEEK WE ASKED: Do you think conducting counselling sessions help institutes make students' expectations towards placement more realistic?

Students' Corner

Interview with One of the eight toppers scoring the 100th percentile in CAT

I'm going to prepare diligently to secure a final call: Abhiram Iyer

Highway tolling should not be given a bad reputation

One bad apple

Competition over rolling back reform must stop

In reverse gear

It would be difficult for anyone to remember the last time a Minister of State (MoS) in the finance ministry was heard speaking at a public platform on the economy and finance. But J D Seelam, who was appointed MoS last year, belied all expectations by speaking at great length at an event hosted by an association of stock exchanges last week. In his half-hour-long extempore speech, Seelam didn't restrict himself to the markets either but touched almost every key issue involving the finance ministry - fiscal deficit, tax collections, inflation, gross domestic product growth and also the government's efforts to control import of coals. The former bureaucrat also had some advice for the press: "Let's not say something is wrong unless it's conclusively proved." Despite this speech of unprecedented length by an MoS finance, it was Sebi chairman U K Sinha who grabbed the headlines.

MoStly ignored

The Aadhar number is meant to act as a proof of identity for India's 1.2 billion people. As things stand, a little under half of India's population has been "seeded" by the Unique Identification Authority of India (UIDAI). Yet, interestingly, there are parts of India where Aadhar has not made any inroads at all - at least according to data presented in a reply to a Parliamentary question. The data, updated to November 2013, show that three states have "0%" saturation - Arunachal Pradesh, Assam and Meghalaya. A north-eastern trend? Not really, since Manipur has a 27 per cent saturation and Nagaland sneaks by with one per cent. Remote location? Again, Andaman & Nicobar Islands with a 42 per cent saturation suggests that this is not a deterrent. Political affiliations? Well, the Congress, champion of the UIDAI project, has been in power in Arunachal Pradesh since 2007, in Assam since 2001 and won in Meghalaya handily last year.

Identity gaps

The Aam Aadmi Party's (AAP) daily press briefings and non-stop media coverage are beginning to take their toll. A few days ago, while the media was waiting for a briefing on the capital's power situation and impending audit of power companies, a little boy appeared from nowhere and started relating a story of how a ball with which he was playing had hit the windscreen of a car in which Delhi minister Rakhi Birla was travelling, leading to chaos in the area. Reporters immediately leapt on this potentially spicy development, forcing the organisers to remind them that the real purpose of the meeting was to educate them on Delhi's power problems and not on a petty incident.

AAP's breaking news

This refers to the news reports "MEA can't ignore Devyani's efficiency: Uttam Khobragade" and "Khurshid says US could have avoided mini-crisis" (January 13). While Uttam Khobragade, father of diplomat Devyani Khobragade, is entitled to fight the case in the US on behalf of his daughter, he cannot comment on her next posting since it is an issue for the Ministry of External Affairs (MEA) to decide. While diplomats are expected to ensure the betterment of the relations between both the nations, here the diplomat's treatment of her servant has strained bilateral relations. There are other countries that have their consulates whose diplomats also employ domestic servants to run their homes. Why should this issue cause difficulties for the Indian consulate in the US alone? Reports elsewhere talk of such 14 more "time bombs" waiting to tick. The media also speaks of the MEA pleading with the finance ministry for treating domestic servants as government employees with attendant benefits. It m

Letters: Footing the bill

The news that the Aam Aadmi Party (AAP) wants to reverse the policy of foreign direct investment (FDI) in retail is disturbing. This shows that policy marriages in India are short term. This obviously will have a negative effect on the foreign exchange flows to India. It is quite likely that AAP may like to have a closed economy and closed mind on many issues. Who are the advisors of AAP to take revolutionary steps, even before the elected party leaders are able to sit properly on the seat of power they have grabbed, of course, by some news-catching slogans? The spread of AAP is going to create a close-minded India, as much as the close mindedness the Bharatiya Janata Party has demonstrated in FDI in retail. The Congress should rethink its support to AAP.Chandrashekhar G Ranade  HawaiiLetters 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.inAll letters must have a postal a

Letters: A close-minded economy

This refers to the report "SBI says ATM operations in losses, supports idea charging customers" (January 13). It is common knowledge that banks discourage account holders to withdraw small amounts of cash (within the limits allowed for ATM withdrawals - Rs 15,000 to 20,000 a day). The costing methodology for arriving at profit and losses in ATM maintenance should factor in, inter alia, the low interest paid on savings bank accounts from which ATM withdrawals are made, and the savings in costs when transactions are managed through machines.Another aspect the Reserve Bank of India and banks should consider is the need for several ATMs in the same locality or in the same shopping area, maintained by different banks. Since the current infrastructure and technology for ATMs does not leave much scope for "competition" among service providers, pooling of resources and having ATMs based on need could be thought of. If there are ATMs working within short distances, say 100 meters or so, bringin

Letters: Transaction tack

Slowdown reveals need for a vibrant manufacturing sector

The wrong growth

Cancellation of Niyamgiri project is worrying

A problematic precedent

Nandan Nilekani's Unique Identification or Aadhar programme may have set him on the path of politics but, ironically, he suffered an identity crisis of sorts in Bangalore, the city from which he hopes to launch his political foray. Last weekend, security men stopped Nilekani at the entrance to the Bangalore Palace Grounds while he was trying to gain entry to Congress Vice-President Rahul Gandhi's interactive meeting with Young Talented Achievers to frame the Congress party manifesto. His efforts to explain to the security detail that he was the chairman of UIDAI went in vain. Finally, he had to ask Congress party functionaries to help him gain entry to the venue.

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