Search results for: crony-capitalism-in-india

Crony Capitalism in India

Author : Naresh Khatri
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Crony Capitalism in India provides a comprehensive and scholarly examination of the important topic of crony capitalism, filling an important gap in the market. Bringing together experts from various backgrounds, it addresses the key underpinnings of this complex and multifarious issue. Given the emergent nature of the Indian economy, this book provides important information for decision makers in both government and business to help establish a robust institutional framework that is so desperately needed both in India and globally.

Crony Capitalism and India

Author : Surajit Mazumdar
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Crony Capitalism

Author : Manas Dasgupta
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GAS WARS Crony Capitalism and the Ambanis

Author : PARANJOY GUHA THAKURTA
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The two brothers had fought over many issues, but what sometimes got lost in the din of the battle cries was a simple fact: much of the tussle was over India's natural resources, about how the resources were intended to be mined, marketed and monetised.' Paranjoy Guha Thakurta shows how the simmering controversy over the rich natural gas reserves in the Krishna-Godavari Basin boiled over into a primetime storm on gas pricing involving the office of the Comptroller and Auditor General of India, the Ministry of Petroleum and Natural Gas as well as the Prime Minister's Office, even as he introduces new dimensions to it. While many reasons have been attributed to the split in the powerful Indian business family, the Ambanis, this book argues that the battle between the Ambani brothers was largely about wresting control over reserves of natural gas that are below the ocean bed along the basin of the two greatest rivers of southern India. With painstaking research, a meticulous perusal of press reports, as well as a few surprising exclusives, Gas Wars highlights cases of crony capitalism that allowed the Reliance group to blatantly exploit loopholes which were consciously retained in the system to benefit it. Even as the book tells the story of how the country's largest corporate conglomerate has benefited from the way government policies are structured, it lays bare the alarming facts of a natural disaster waiting to happen due to the ruthless exploitation of the country's natural resources in order to swell the fortunes of a few.

Crony Capitalism

Author : Surajit Mazumdar
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Includes study on capitalism in United States.

Business and Politics in India

Author : Christophe Jaffrelot
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Introduction / Christophe Jaffrelot, Atul Kohli and Kanta Murali -- Power of business in contemporary India -- Economic liberalization and the structural power of business in India / Kanta Murali -- India's new porous state : blurred boundaries and the evolving business-state relationship / Aseema Sinha -- Business power across issue areas -- The politics of India's reformed labor model / Rina Agarwala -- Business interests, the state, and the politics of land policy in India / Rob Jenkins -- Cabal city : India's urban regimes and accumulation without development / Patrick Heller, Partha Mukhopadhyay and Michael Walton -- Media in contemporary India : journalism transformed into a commodity / C. Rammanohar Reddy -- Regional experiences -- Business-friendly Gujarat in 2000s: the implications of a new political economy / Christophe Jaffrelot -- Business and politics: the Tamil Nadu puzzle / John Harriss and Andrew Wyatt -- Business and state in Odisha's extractive economy / Sunila Kale -- Conclusion / Christophe Jaffrelot, Atul Kohli and Kanta Murali

Class and Conflict

Author : Elizabeth Chatterjee
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In 1984, Pranab Bardhan published his classic work The Political Economy of Development in India. It went on to become one of the most influential references on the political economy of development in the pre-reform period of independent India. Class and Conflict reflects on the enduring influence of Bardhan’s original publication in the context of post-liberalization developments in India. Drawing on their own world-leading research, the contributors to this volume engage with a wide range of issues, such as whether big business dominates India today, how subsidies retard economic growth, and how the middle classes are transforming politics. Together they try to answer the big question: what has really changed in the political and economic climate of the country over the last 30 years? Exploring the continuities and changes that have characterized India’s political economy since 1984, this volume takes stock of the main challenges of India’s economic development today. It contributes to current debates on economic growth, crony capitalism, agrarian crisis, the politics of class and caste, and the role of the state in a liberalizing economy.

GAS WARS

Author : Paranjoy Guha Thakurta
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Prime minister of India Manmohan Singh has been accused of changing ministerial portfolios at the behest of the Reliance group. There have been claims that the group deliberately ‘squatted’ on reserves of natural gas and curtailed production in anticipation of higher prices that are administered by the government, to the detriment of the interests of the country’s people. Spokespersons of the group deny these alligations and contend that gas output from the Krishna-Godavari basin came down on account of unforeseen adverse geological surprises. Sections within the Indian government do not buy these arguments. The Comptroller and Auditor General of India has alleged, among other things, that the contract between the government and Reliance Industries Limited is deeply flawed, thereby encouraging excessive capital expenditure and lowering potential benefits to the exchequer. With painstaking research, a meticulous perusal of press reports, as well as a few surprising exclusives, Gas Wars highlights cases of crony capitalism that allowed the Reliance group to blatantly exploit loopholes which were consciously retained in the system to benefit it. The book points out how, even when laws and policies appeared fair, rational, and reasonable, the way in which these rules and procedures were framed and implemented by bureaucrats acting at the behest of their political masters exposed the deep nexus between business and politics in India. Even as Gas Wars tells the story of how a corporate conglomerate, in this case the country’s largest, has benefited from the way government policies are structured, it lays bare the alarming facts of a natural disaster waiting to happen due to the ruthless exploitation of the country’s natural resources in order to swell the fortunes of a few. The book also highlights the examples of those within the government establishment who have refused to be intimidated by the rich and the powerful, and who have against all odds valiantly attempted to uphold the interests of the people of India.

India s Long Road

Author : Vijay Joshi
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India's economic resurgence has been the subject of many extravagant predictions and hopes. In this powerful and wide-ranging book, distinguished economist Vijay Joshi lays out a penetrating analysis of the shaky foundations of the country's performance, and charts the course that it should follow to achieve widely-shared prosperity. Joshi argues that for India to realize its huge potential, the relation between the state, the market, and the private sector must be comprehensively realigned. Deeper liberalization and more extensive privatisation will be necessary. But they will not suffice to achieve India's economic objectives. The state needs to perform much more effectively many core tasks that belong squarely in its domain. India needs more of the market as well as more of the state. The road India takes will matter not only for the lives of its billion-plus people but also for the course of global economics and politics. In the course of his enquiry, Joshi examines in depth all the critical areas of Indian development policy, including employment and the 'demographic bulge'; investment and productivity; the markets for goods, resources, and finance; macroeconomic stability; public sector banks and enterprises; the infrastructure deficit; social protection and safety nets; education and health care; environmental sustainability; international economic relations; state capacity and accountability; and corruption and crony capitalism. His design for radical reform incorporates a fiscally affordable scheme to provide a regular 'basic income' for all citizens that would speedily abolish extreme poverty. An authoritative work of tremendous scope and depth, India's Long Road will be an essential resource for anyone who wants to know where India is today, where it is headed, and what it should do to attain its ambitions.

India Grows At Night

Author : Gurcharan Das
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Indians wryly admit that ‘India grows at night’. But that is only half the saying, the full expression is: ‘India grows at night... when the government sleeps’, suggesting that the nation may be rising despite the state. India’s is a tale of private success and public failure. Prosperity is, indeed, spreading across the country even as governance failure pervades public life. But how could a nation become one of the world’s fastest-growing economies when it’s governed by a weak, ineffective state? And wouldn’t it be wonderful if India also grew during the day—in other words, if public policy supported private enterprise? What India needs, Gurcharan Das says, is a strong liberal state. Such a state would have the authority to take quick, decisive action, it would have the rule of law to ensure those actions are legitimate and finally, it would be accountable to the people. But achieving this will not be easy, says Das, because India has historically had a weak state and a strong society. About the Author Gurcharan Das is a well known author, commentator and public intellectual. He is the author of the much acclaimed The Difficulty of Being Good, and the international bestseller India Unbound, which has been translated into many languages and filmed by the BBC. His other works include the novel, A Fine Family, a book of essays, The Elephant Paradigm, and an anthology, Three Plays, consisting of Larins Sahib, Mira and 9 Jakhoo Hill. Gurcharan Das writes a regular column for a number of Indian newspapers including the Times of India and occasional guest columns for Newsweek, Wall Street Journal and Foreign Affairs. Gurcharan Das graduated from Harvard University and was CEO of Procter and Gamble India before he took early retirement to become a full time writer. He lives in Delhi.

Crony Capitalism in US Health Care

Author : Naresh Khatri
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The US political system has come to depend upon money too much. The US health care industry spends the most on political lobbying among all the 13 industrial sectors in the US economy. The government regulatory agencies at both federal and state levels have been "captured" by the health industry interest groups meaning that the regulatory agencies respond to the interests of the industry but not those of citizens. This book employs a broad theoretical framework of crony capitalism to understand US health care system dysfunction. This framework has not been applied before in any serious manner to understand the shortcomings in the US health care system. Specifically, the book examines the role of seven key players using this framework - politicians/interest groups, pharmaceutical companies, private health insurers, hospitals/hospital networks, physicians, medical device manufacturers, and the American public. Crony capitalism is a destructive force and is rampant in US health care system, causing much waste, inefficiencies, and malaise in the system. Current efforts and initiatives, such as patient-centered medical homes and precision medicine, for improving/reforming the system are of mere academic interest and tantamount to taking aspirin to treat cancer. They do not even pretend to address the root cause of the problem, namely, crony capitalism. Offering prescriptions to fix the U.S. health care system based on a comprehensive diagnosis of the dysfunction, this book will be of interest to researchers, academics, policymakers, and students in the fields of health care management, public and non-profit management, health policy, administration, and economics, and political science.

Conducting Business in China and India

Author : Deepak Sardana
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This book takes a holistic approach to explore how business is being conducted in China and India, and to analyze the factors that influence business decisions in present times. In doing so the book seeks to develop a fuller understanding of the present ‘context’ within the two Asian nations, drawing upon a complete understanding of the culture, history and behaviour of the society and its institutions. The authors probe an area that has not been widely addressed before and seek to provide a finer analysis of the influences behind day-to-day business operations. This study has widespread appeal as it covers business processes at three different levels: macro-level, including government policies and institutions; meso-level, organisations and communities; and micro-level, individuals within business. Not only appealing to scholars, senior executives, business professionals and policy-makers, this book will also provide an interdisciplinary examination of how business is conducted in China and India, and will be valuable to anyone with a general interest in Asian business.

Class and Conflict

Author : Elizabeth Chatterjee
File Size : 86.83 MB
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In 1984, Pranab Bardhan published his classic work The Political Economy of Development in India (PEDI). It went on to become one of the most influential references on the political economy of development in the pre-reform period of independent India. Class and Conflict reflects on the enduring influence of Bardhan's original publication in the context of post-liberalization developments in India. Drawing on their own world-leading research, the contributors to this volume engage with a wide range of issues, such as whether big business dominates India today, how subsidies retard economic growth, and how the middle classes are transforming politics. Together they try to answer the big question: what has really changed in the political and economic climate of the country over the last 30 years? Exploring the continuities and changes that have characterized India's political economy since 1984, this volume takes stock of the main challenges of India's economic development today. It contributes to current debates on economic growth, crony capitalism, agrarian crisis, the politics of class and caste, and the role of the state in a liberalizing economy.

The Billionaire Raj

Author : James Crabtree
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A colorful and revealing portrait of the rise of India's new billionaire class in a radically unequal society India is the world's largest democracy, with more than one billion people and an economy expanding faster than China's. But the rewards of this growth have been far from evenly shared, and the country's top 1% now own nearly 60% of its wealth. In megacities like Mumbai, where half the population live in slums, the extraordinary riches of India's new dynasties echo the Vanderbilts and Rockefellers of America's Gilded Age, funneling profits from huge conglomerates into lifestyles of conspicuous consumption. James Crabtree's The Billionaire Raj takes readers on a personal journey to meet these reclusive billionaires, fugitive tycoons, and shadowy political power brokers. From the sky terrace of the world's most expensive home to impoverished villages and mass political rallies, Crabtree dramatizes the battle between crony capitalists and economic reformers, revealing a tense struggle between equality and privilege playing out against a combustible backdrop of aspiration, class, and caste. The Billionaire Raj is a vivid account of a divided society on the cusp of transformation--and a struggle that will shape not just India's future, but the world's.

Social Economy of Development in India

Author : K. S. Chalam
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A comprehensive analysis of the dynamics of social economy in a traditionally fragmented Indian society Drawing from the works of several eminent economists, this book elaborates on an alternative paradigm of development in the global context. It advocates reforms in social indicators and also bureaucracy, politics, business and contractor groups to enable their empowerment. Further, the book interrogates liberal economic policies and their consequences in various fields such as inequalities in human development, social tensions, marginalisation of agriculture, language and culture in the Indian caste-based society. Comprehensive in analysis, it looks at political processes in India through the oligarchy of castes and examines the structure of inequality that still persists.

GLOBALIZATION IN INDIA

Author : RAMANUJ GANGULY
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Since the last decade of twentieth century, India has strived for an experienced and unprecedented economic turn-around. The country has witnessed a structural shift in GDP growth, propelled largely by new investments and the growth of the value enhancing services sector. Globally, these efforts are not only source of appreciation but also of assumption for many that India increasingly being seen as part of new axis of influence in the world. Long established three-headed social problem—poverty–illiteracy–unemployment—remains the biggest stumbling block for a post-colonial country like India. New sets of problems have taken shape in the last quarter of twentieth century when policy makers and market participants have prioritized economic activities for short-term gains. In context of the above, Center of Associates for Sociological Studies and Action undertook to bring out to the fore oft-neglected inter-disciplinary discussions and analysis in fifteen articles to examine the process of globalization in India taking insights from economics, political science and international relations, sociology, cultural anthropology, social ecology, management and cultural studies. It discusses the impact of the process of globalization on social institutions like marriage, family, economy, politics, education and religion. The book is intended for postgraduate students and research scholars. It provides readers with a clear perspective about creating economics, environmental and social capital that can produce multiplier effect for making national progress more inclusive and sustainable.

India Uninc

Author : R. Vaidyanathan
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While the nation's newspapers, journals, business magazines, TV channels and the internet continue to churn out reams, airtime and gigabytes of information about India's business houses-India Inc.-in this one-of-its kind book, Prof. R. Vaidyanathan delves deep into India Uninc. and presents a persuasive case for why the latter is really what is at the heart of our economy, and why any growth story about India is incomplete if that real engine of our growth is ignored. The author argues that the real India story, over generations, lies with the many proprietorship and partnership firms, small manufacturing units, kirana stores, single entrepreneurs and household enterprises. That they are being finally given their due, in this important study, is the result of many years of cutting-edge research, which lays bare the lopsided viewpoints of policy-makers and 'experts', and urges a broader vision of the country's economy. The small entrepreneur says Prof. Vaidyanathan, should prevail over crony capitalism. Scholarly yet accessible, and offering a wealth of information on an uncharted territory, India Uninc. is a must-read for anybody who aspires to understand the Indian economy -as well as India itself.

Caste Class and Capital

Author : Kanta Murali
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The book traces the social and political origins of economic policy in India during its high growth phase after 1991.

Indian Journalism and the Ruling Elite

Author : Swati Maheshwari
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The central question in this thesis is what are the interrelationships between the news media and those at the center of power and how do these shape the role the media play in democratic processes, particularly since neoliberal reforms in 1991. More specifically, this research attempts to illuminate journalistic practice and the factors that influence it, at the intersection of political and economic interests in what is often described as a crony capitalist polity (Kohli, 2007; Varshney, 2000). This has been done by examining three case studies that represented the interests of those at the center of power and the growing collusion between the state and private capital that has been a mark of the polity’s neoliberal turn (Chandrashekhar, 2014). Each of these – the Nira Radia conversations that exposed the nexus between private capital and the state, the news media’s coverage of the political elite, mainly the Gandhi family and the leader of the Hindu majoritarian political party Bharatiya Janata Party (BJP), Narendra Modi, and lastly, the media’s coverage of India’s richest business house Reliance Industries Limited (RIL) and its owner Mukesh Ambani – was marked by extensive self-censorship by the national mainstream news media. The theoretical architecture underpinning this project draws on three major approaches – political economy, field theory and new institutional theory provides a framework sufficiently sensitive to the range of pressures and influences journalism is subject to. This research draws on forty semi-structured, in-depth interviews with forty journalists and editors who were directly involved in the editorial processes of each of these news stories. The salient finding of this project is that the field of journalism has been subject to regular incursions from the field of power, particularly when political and economic interests are aligned, such that the field of journalism collapses in the field of power resulting in the need to reassess Bourdieu’s claim that fields, however heteronomous, possess a degree of autonomy. This research finds that journalism is not merely embedded in the field of power, it plays a more pernicious role after economic liberalization. It becomes an active participant in negotiating and consolidating the dominant coalition of economic and political interests on which the polity rests. In other words, it is recruited by the field of power in institutionalizing crony capitalism. However, the self-censorship could not be sustained and unraveled, albeit briefly, in each of these cases. Contradictions between the macro forces induced by the consolidation of democracy, dissensus within the elite and constitutional limits circumscribing power are some of the variables that allow for interstices of journalistic autonomy. Thus, new institutionalism’s insistence on retaining the political elided by both political economy and field theory, is valuable. Lastly, this research foregrounds the role played by journalistic agency in upholding the democratic mission of journalism.

Turn of the Tortoise

Author : T N Ninan
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In The Turn of the Tortoise, T N Ninan explores the paradox of a "premature superpower" (as Martin Wolf once described India in the Financial Times). India has grown from the 12th largest economy in 2008 to what IMF reckons is the 7th largest in 2015, even as its people are poorer than those in Laos and Sudan. Ninan assesses India's position as a natural counter-weight to China, though fundamentally different from that country and overshadowed by it in an unequal military balance and in the contest for influence in a region that stretches beyond Asia to Africa. And finally, Ninan looks at how the third-largest contributor to global economic growth remains troubled by slow economic reform and the poor standards of governance that make it a difficult place in which to do business. The author considers the social, economic and political forces that helped the rise of Prime Minister Narendra Modi, and the risks of constitutional liberalism yielding space to an illiberal democracy. He views the role of Indian business conglomerates as double-edged, and reviews India's stance and role in global trade and climate change negotiations. This work uses data extensively to support analysis, even as it tells stories of hope and frustration within a framework of qualified optimism. The brisk and engaging style of an expert wordsmith will appeal to anyone interested in the new "Asian Drama": the tension with China, the "arc of friendship" that brings closer the region's largest democracies (Japan, Australia and India), and the many facets of the new energy in Indo-US relations. If you want to make sense of a complex country that encompasses "a universe of realities," this is the book you've been waiting for.