For someone who opened the floodgates of liberalisation, which put the individual ahead of the “State” at the centre of the Indian universe, Prime Minister Manmohan Singh made a most incredible speech on Thursday at the annual session of the Confederation of Indian Industry (CII).
# While attempting to enhance profits, the private sector should function within the bounds of “decency and greed” and show some self-restraint.
# The business community should resist excessive remuneration so as to reduce conspicuous consumption.
# He warned that “showing off the riches through ostentatious parties is as good as insulting the less-privileged and stoking social unrest.”
# Corporate social responsibility should not be defined by tax planning strategies alone. Corporates should factor in the needs of the community and the region.
No doubt, these are the kind of stately things to say for a Prime Minister at stiff business meets like these. But is Manmohan Singh barking up the wrong tree?
Can the State dictate the profits of business houses in this day and age? Can corporates in a competitive atmosphere get the best talent without dangling big cheques? Can the State prevent individuals from enjoying the fruits of their hard work and talents? And after creating jobs and paying due taxes, should businesses try to run society?
Or…
Is a sage economist being sagacious enough in recognising the simmering undercurrents in a Bharat that has been left out? Or is he echoing the deep anguish and desperateness of a Congress which, after coming to power on the back of the aam admi, is losing in state after state?
In other words, is he trying to put the toothpaste back into the tube?
If MMS is not talking through his turban or blinded by the setting sun on UPA fortunes, then almost all MPs from the parliament should give up their ‘elitist’ privileges and start serving the ‘aam aadmi’ in earnest and in true social spirit!
MMS can show the way by giving up all the elitist degrees he has amassed, give away all his wealth and other financial instruments (stocks etc) and help the new poor–muslims of India.
Congress is living in a time warp.
The old Garibi Hatao and similar socialist slogans are outdated today except for Nehruvians like Mani ShankarI. He is no great strategist but he is clever enough to see an opportunity for himself–may be he even has ambitions as a PM or this could be a deep ploy to affix Rahul as PM. But ole MMS is a very seasoned hand–he knows when to use economics or when to start using ‘statistics’. He is saying, I can be all to anything you say–as along as you let me say it. In fact MMS is the ‘Hairy Houdini’ of Punjab!
Manmohan Singh is barking up the RIGHT tree!!!
An economist by profession and a guy who does not shy to claim the fatherhood of unleashing economic liberalization…, speaking at CII calls for steps which can be expected to be the talking points of communist and radical ideologue manifesto.
Ostensibly he is speaking ‘at & to’ CII, but his real audience is the ‘class’ that has yet to realize the fruits of economic trailblazing. Plausibly, he is barking up the RIGHT tree!!!
This is mere posturing more than anything else. Had these comments been made for any other audience, there would have been some backlash and most likely it would not have been well received. By using such a forum MS is assured of a listening audience if nothing else, whose reaction is most likely to be muted. On the other hand this gives MS and his party some brownie points which they can use to good effect with their allies and the public.
Doodi Buddi.. Great post….I liked the hairy houdini part.
MMS is trying to remind responsibility. I appreciated the speech.
However I always doubt if business houses can do charity after witnessing what is happening at Escorts Hospital now. It is not possible for a wolf to wear sheep’s skin. Sooner or later tendency to profit surfaces.
Business schools teach profit maximization, but we ourselves have to set limits to our desires.
One example of charity from a business house.. Enjoy
http://nadunudi.wordpress.com/2007/05/25/nandarayana-baduku/
MMS!
Lead by example, we say!
Strip MPs of all perks and privileges and let’s watch corporate India do something about it.
Narayana, thank you. Great analysis on Escorts Nanda–if you recall when Swaraj Paul wanted to open up companies like Escorts in India in the 80s, Indira G was completely brainwashed by Nandas and others. Can you explain the mechanics as to what went on during those glorious socialist years?
Here is something–Charity begins at home abroad
Murthy has a little son
and a bright lad was he
little son wanted Ivy league
and Murthy said why not
here is some spare change
and here is some donation
to the good people at Cornell
Murthy had a word of advice
son, learn at the fountainhead
of wisdom and avarice
here let me clean up India’s filth
milk it for what it’s worth
while doing good by stealth
But dad, why do charity in India?
a land of billion plus souls
Well old Son, call me a corporate louse
but as long as my coffers are full
it is America I am thankful
—-Shakespeare
He warned that “showing off the riches through ostentatious parties is as good as insulting the less-privileged and stoking social unrest.”
What a paradox – The Tamilnadu Governer was sacked by the present govt. because he did not host a lavish post national day party.
What about the lavish way money is spent by the Govt. at all functions. There a few spots in Tamilnadu where water is given to the pedestrians in summer. They put small sheds on the road side. On the first day it is inaugurated by the ruling party with lot of fan fare blocking roads, giving bottled drinks to all the invites, with blaring music and fistoons every where. The local press and TV give lot of publicity to this praising the ruling party.Once the function is over what is left behind is only a old oil drum and a few mud pots and plastic tumblers. Poor people who pass by only use this water to wash their face to freshen up.
Probable the text of his talk had been drafted by Soniaji and Karunanidhi
Prime Minister rightly hit on the Industry Knuckles.The disparity in life style in our Country is killing and sickening.Eternal fasting and feasting cannot should not go hand in hand by whatever stretch logic used to justify.Industry should watch out.
The speech has the words “LAME DUCK” written all over it.
MMSji knows that there is no chance of him enjoying another term as PM. He is also well aware that he is only slightly less powerless than the President of India, but having a much smaller official residence. He is just trying to remain relevant. Poor man. I don’t blamehim. His own Cabinet Ministers ignore him on the best of days, and contradict him more often than support him. He gets bullied by ‘allies’, who then go over his head to ‘Madamji’ blaming him for not listening to them. He cannot take any action without ‘Madamji’ first approving it. Plus he does not have age on his side either, or energy or vitality that would make him a good PM.
This speech is should be seen as an old, otherwise genial man, who is bitter and disillusioned at the way he is being taken for granted by his own self-serving ‘allies’ and partymen, trying desperately to reach out to the only constituency that still possibly respects him (business and middle class), only to find his words of wisdom and advice rebuffed.
King Lear anyone?
Her Majesty Sonia Ghandi is letting the surrogate Singh to be the PM until her son is ready.