Ad Here  
Chennai Metro looking for revival I know nothing else but cinema... State VAT leads to inflation: a study A new technique to treat dry sewage Bewailing monsoons the new fad The curious case of Evgenii Berdnikov Meters return to the metro A praiseworthy peer recognition K7’s Entrepreneurial Odyssey Apollo targets a third of CV tyre market Green energy, not really green? Arnold visits Chennai From trash land to tourist spot Outlays and outcome – the long gap Education a cause of concern Must visit of 2014 He made Ranganathan Street so crowded... Yamaha in the news Yes, you are safe! Sathyabhamasat propels ahead Metro chugs the green way Chennai Silks in flames Missing, but not missing the top spot Maruti Suzuki wins NIQR award Indian of the Year It’s so cool! Talk your way and land in a job The sunshine and the shadow side of this digital era Planning the right energy Chennai gets its Imax Hey Chitti! please take my order A feast for book worms It is not only your noodle... Indian media-operators of democracy The worst is yet to come SGRI – a global research centre for building materials India’s first 3D Museum Self-sufficiency in dredging... Read before you buy... Is Chennai now the accident capital? This dabba has a cure for all your ailments Ennore Port excels An industry institution link… How to roast 45 human beings alive Million landmark and Rs. 200 crore influx by Yamaha Nilam threatens the city The sweet tooth of the city City Corner-June Frontier Mediville attracts Japanese investments Star studded city Realty bytes Know the start-ups in the city Thrills for the holiday season North Chennai booms Online approval of layout plans Two friends trigger a change Chennai to Bengaluru as quick as pizza delivery Kollywood’s Mahabharatha Vanakkam Chennaiyin FC Murugappas-focus on consolidation Google street view’s India competitor Need for an integrated approach to medicine Chennai, the noisiest city Water wars begin Medical miracle! Chennaites lose 7 crore to debit card frauds When the crowd will miss the roar A budget that butted into deficit A skinny affair Building highs and lows Mexico opens Consulate in Chennai Overflowing garbage Metro chugs through the city The sweet killer Black outs will be knocked out Aviation sector to grow three times... Boozing and driving Force Motors’ two new SUVs Colourful welcome at the Saidapet station Pocket Therapist finds mention in Forbes 60 years of cultural and economic ties Paranjoy on crony capitalism Technologists to rescue CMRL takes off till airport Keep in touch, anytime anywhere Coimbatore backs up for Chennai Reality Check The underground don zips through The auto gets a remake City Corner Prithika Yashini takes charge... Hawker’s paradise gets a permanent place Presto! Bravo! When Marina became the Tahrir Square 377 yet young India’s first online-only bicycle brand Working space for women by woman A sweet marketing splash by Pattappas Metro mania International conference on saving energy, environment Raj Bhavan opened the gates for public Book your water tanker Car-free Bessy Chevrolet Sail U-VA Launched Chennai teachers rank low Cricket comes calling to Chennai City Corner Tamil Nadu Premier League launched Doing business is not so easy in Chennai Chennai soon to get an Aerospace Park City Corner - Chennai Tambaram tracks…. Technology handshakes with sanitation Safe Trac-keeps track on your safety TTV stumps all Chennai airport to become solar-powered Engineering colleges lose lustre Perplexing communications When Chennai became Venice Water woes The 20-year itch of Hindujas ends
Paranjoy on crony capitalism

In a talk on Crony Capitalism at the Institute of Chartered Accountants of India, Paranjoy Guhathakurta spoke with eloquence on how crony capitalism is eating into India’s moral fibre.  “Crony capitalism is an economic system, in which family members and friends of government officials and business leaders have an unfair advantage.” He then proceeded to give a few examples. One, of how 2G spectrum a natural resource was allocated on a faulty version of first come first served. Two, of how when two brothers fight for resources (natural gas) which belong to the public, you had crony capitalism. And three of how in 2013 Vedanta trust was found to be  a foreign entity controlled by a foreign corporation. And if you are a foreign entity, you cannot donate any money to the political party according to a 2014 High Court verdict. And of how Arun Jaitley, amended the foreign company definition in the Foreign Contribution Regulation Act, so that it excluded Vedanta Company from the ambit of the foreign company.

Author :
Reported On :
Sector :
Shoulder :
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.
Read more
Economist Communications Ltd is committed to ensuring that your privacy is protected.
Read more
You agree that your use of this Website and the purchase of the magazine will be governed by these terms and conditions.
Read more
S-15, Industrial Estate,
Chennai - 600 032.
PHONE: +91 44 22501236