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Window Dressing Budgetary Figures
31 January, 2018, C.P. Chandrasekhar
Budget 2018-19 will feature a window dressed Revised Estimate to ensure that the fiscal deficit is on target. The government’s decision to sell its stake in HPCL to ONGC is only one more step in that direction.
The Slide of an Aging Leader
26 October, 2017, C.P. Chandrasekhar
The recent acquisition of TTSL by Airtel indicates the deep-seated problems of mismanagement and debt-ridden books of the Tata group, which was once a frontrunner among business conglomerates but is now, only a shadow of its former glorious self.
Privatisation on Hold
22 September, 2003, C.P. Chandrasekhar
On 16 September 2003, the Supreme Court of India delivered a landmark verdict. It stripped the executive of its self-assumed autonomy in the areas of disinvestment and privatization. The court, in essence, ruled that any enterprise created under or transferred to public ownership by Parliament cannot be privatized without parliamentary approval.
Primitive Accumulation through Privatisation
31 October, 2002, C.P. Chandrasekhar
It was an announcement that shocked even the overzealous Minister for Disinvestment, who believes nothing can go wrong with his high profile drive to sell public properties at a rapid pace. On October 18, 2002, Batra Hospitality Pvt Ltd announced that it had sold Centaur Airport Hotel at Mumbai to the Sahara India group for a sum of Rs. 115 crore.
Market, Morals and the Media
25 July, 2002, Prabhat Patnaik
The power of the media as an institution has gone down greatly in India in the 1990s. To use 'moral capital' to acquire a more powerful role in society the media needs to display humaneness and concern for democracy in looking at the impact of issues like liberalisation' and 'globalisation'.
Primitive Accumulation through Privatisation: The VSNL Experience
31 May, 2002, C.P. Chandrasekhar
Secondly, there is no clarity on the question of whether the board of VSNL took the decision unanimously or whether one of the government nominees on the board, Mr. Rakesh Kumar, senior deputy director general in the department of telecommunications, who was present at the meeting, had dissented.
Budget 2002-03: Results of Missing an Opportunity
04 March, 2002, C.P. Chandrasekhar & Jayati Ghosh
In an implicit defence of the Budget proposals for 2002-03, Revenue Secretary S. Narayan attacked the corporate sector for failing to deliver. Speaking to representatives of the Confederation of Indian Industry during a post-Budget interaction, he argued that unlike last year when the budget provided Rs. 16,000 crore in the form of “giveaways”, this year’s budget offers none, because of the lack of resources resulting from the poor performance of industry.
Pre-Budget Manoeuvres
20 February, 2002, C.P. Chandrasekhar
The annual ritual in which the Finance Minister meets representatives of different sections of society to elicit their views on the direction the annual budget of the Centre should take has begun. So have the pre- and off-budget manoeuvres through which the government seeks to garner "revenues", so as to window dress the budget.
Irrationality Dressed as Reform
08 February, 2002, C.P. Chandrasekhar
In an effort to convey the message that it is a government committed to accelerating reform, the NDA government has, on February 5, chosen to simultaneously announce a broad set of policy changes covering diverse areas of the economy. The measures were a motley combination of more privatization of large PSUs, a cost-cutting voluntary retirement scheme (VRS), further liberalization of the food grain trade, and moves to dilute price control in the case of a number of commodities, notably sugar and pharmaceuticals.
Disinvestment: Changing Guard While Displaying the Silver
17 July, 2001, C.P. Chandrasekhar
Controversy dogs the NDA government's effort to settle into disinvestment overdrive. With the strategic sale of public sector giants like VSNL, Air India and Indian Airlines imminent, the Congress, led by former Finance Minister Manmohan Singh, has decided to join the opposition.
The Disingenuous Mr. Shourie
01 November, 2000, C.P. Chandrasekhar
Judging by a recent missive sent by the Disinvestment Minister Arun Shourie to members of Parliament, the government is set on pre-empting criticism of its recently launched accelerated public sector sell-off programme. There are three elements to that programme, now being spearheaded by Shourie. First, it is being executed as per a time-bound agenda cleared by the Cabinet Committee on Disinvestment.

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