15
PRIME MINISTER MANMOHAN SINGH AND THE MEDIA
2005
1.The Business Line, on 23 May 2005, came out with a
front-page article by a Mr. Alok
Mukherjee. He described Dr. Manmohan
Singh, Mr P.Chithambaram and Mr. Montek Singh Ahluwalia as a “star
economic team” However, he added that the Public sector disinvestments had
“slowed down to a crawling pace”. He
concluded the article saying, “Be prepared for delays”.
2. A Mr. Coomi
Kapoor in a centre page article in The New Indian Express on 14 May
2005 said that the Congress MPs were “discomfited” with the Prime Minister Manmohan Singh. He said,
“Some were downright uneasy”.
3. On 19 May 2005 a Mr. T.V.R.Shenoy in a center page article in the same paper said
that many in the Congress were “chafe about the Prime Minister’s devotion to
his conscience”.
4. The
Housing and Urban Development Corporation (HUDCO)- when the NDA was in power- diverted Re. 8500 crore meant for housing loan to the stock market. According
to the Central Vigilance Commission (CVC), the exchequer lost heavily. The
HUDCO said its Board had the power to divert the money. The news came out on 29
May 2005 in The Hindu when a Public Interest Petition, (PIL) was filed
in a court.
5. An editorial of The New Indian
Express, on 9 June 2005, commended the recent decision of the Governor,
Reserve Bank of India (RBI), to give financial assistance to Indian companies
for acquisition of companies abroad. According to the paper, the decision was
taken after raising the ceiling for the so-called outward FDI from 100 percent
to 200 percent of the company’s net worth. The paper disclosed that Tata Chemicals Limited had decided to
buy a fertilizer company in Egypt for $ 519 million. The other acquisitions
were Tetley, Daewoo and Natsteel Asia by the Tatas. Further,
the paper proudly proclaimed that India’s outward FDI stock grew from $0.6
million in 1996 to $ 5.1 billion in 2003 and it took India to 14th place in
terms of outward FDI flow.
6. The Hindu, in order to justify the sale
of NTC mills to the DLF, disclosed that the NDA Government had sold Jupiter
Mills in March 2004 for Re.276 crore to “India Bulls Property”.
7. The Economic Times, on 25 June 2005, reported that the surplus funds of 50 PSUs in India as
on June 2005 was Re. 2,59,576 crore. The petroleum PSUs had a reserve of
Re.89,486 crore and the BSNL had 50,518 crore. The paper said that the PSUs had
a plan to invest about Re. 88000 crore only.
8. The Economic Times reported that the banks got a huge amount as service
charges during 2004-2005. According to the paper, this amount more than
compensated the loss incurred due to the fluctuations in the lending rates.
9.
One Mr. Pratap Bhanu Metha on 29 June 2005 in the centre page of The
New Indian Express said that the performance rating of the Prime Minister
was high and that none could attack him personally.
10. The Hindu, on 4 July 2005, reported that cash surplus Indian
companies acquired 26 foreign companies within three months of the financial
year 2005-2006 including the Basel NV acquired by the Chatterjee
group for $5.7 billion, colour picture tube manufacturing business of Thompson
by Videocon group for Re. 1,280 crore and the 67 % stake acquired by Decan
Chronicle in the Asian age.
11. On 16 July 2005 Mr. Shekhar Gupta, in a centre page article of The New Indian
Express described Dr. Manmohan Singh
as one of the most honest, intellectually endowed and selfless prime ministers
in the History of India. He depicted Mr. Pranab Mukherji, Mr. Ahmed Patel Mr.
Digvijay Singh as selfless true believers like Dr.Manmohan Singh.
12. The Hindu, on 22 July 2005, published an article by on one Mr.
Dylan Evans. He, in that article, wanted
the people to cherish those who possess great talent rather than envying them
and begrudging their success. He said that just allocation of admiration is a
virtue that requires judgement and integrity: judgement to distinguish genuine
talent from mere showiness, and integrity in refusing to bestow praise on those
who do not fully deserve it.
13. The Hindu on 25 July 2005 warned Mr.Y.S.Rajasekhara Reddy, the
Chief Minister of Andra Pradesh, that he was “under watch”
14. The Hindu, on 26 July
2005, said, “the polity must benefit from the fortuitous circumstance of having
the most honest politician as the Prime Minister”.
15. The August 1 issue of The Business
World, which hit the stands on 26 July 2005, demanded the disinvestments of
the shares of the PSUs including the BHEL by propounding a new theory. As
individuals, mutual funds and financial institutions held 33% shares of the
BHEL, according to the theory of The Business World, the Government had a fiduciary duty to
privatize the remaining shares to increase the long-term shareholder value.
