A new form of corruption

In India, there are two forms of Yaraana capitalism coming out due to a businessman like Vijay Mallya. (1) These capitalists do not belong to any single political party. (2) Political parties need such capitalists.
Raghuram Rajan, former Governor of RBI, commented on this vicious cycle, saying that "poor people see the mouth of the leaders for the availability of public facilities." Leaders have to look at corrupt businessmen for protection of the poor and to contest elections. In return for this help, the businessman exempts government from exploiting natural resources.
Not only this, these businessmen want loans for investment as well as exploitation of natural resources at cheap prices. The ruling classes provide loans to their friend businessmen from the public sector banks. It is also not seen in the venture that the plans offered by the businesses are satisfactory or not. The reason for this is that instead of this loan leaders also get some benefit.
Vijay Mallya is not alone in the list of Yerana Capitalism. Apart from the Adani group of Gujarat there are several such groups, due to which the unprotected property is increasingly increasing. At the same time, the percentage of admission in Parliament for these political parties' tickets is also increasing steadily. Between 1991 and 2014, their percentage has increased from 14 to 26. Of the 282 MPs of BJP, 43 MPs have come from this class. In these situations, victory for both sides is won. On the one hand, the party does not have to contribute money to the elections of such rich candidates, on the other hand, winning the elections gives strength to the policy makers of the coming businessmen. Being a Member of Parliament, these businessmen are able to influence the policies, as well as raise the benefits for their business.
They also get good nod for the bureaucrats responsible for the implementation of policies. The point is that after retirement, these bureaucrats are kept at the well-paid job of MP industrialists here. LIC, SEBI and former chairman of the National Stock Exchange were included in the board of directors as Kingfisher.
It is also an indication for the bureaucrats that if they want to retain their future after retirement, then the leaders of industrialists should work easily.
After 30 years of introduction of economic liberalism, this is a chapter that has not only affected India's economy but also Indian politics and society. This is a new type of corruption. A tragic fact emerges in this round-trip process; And that is that they weaken the independence of the state. Due to this happening today there is a shortage of public facilities, and the public is not getting its right. Why will the leaders who have built their own private schools, hospitals and security agencies show interest in setting up schools, hospitals and other structures for the public?
Based on the article of Christophie Jefferrott published in 'The Indian Expedition' September 19, 2018

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