One of the features of the current Saradha scam which is distinct from other such scams like the Sanchayita, in West Bengal, is that majority of the people who deposited money in Saradha are rural poor people. Why did rural poor people keep their money in fraudulent companies like Saradha and not in small savings schemes of the government? This is a very important question which needs to be looked at to pin point the role of the central government and state governments in facilitating the activities of companies like Saradha.
The Reply by the Minister of Corporate Affairs to the Lok Sabha STARRED QUESTION NO. 244 on "Frauds by Companies" answered on 14TH MARCH, 2013 is quite informative and revealing. Note what the Minister has to say on Ponzi schemes like Saradha: "There are certain companies which have floated fraudulent investment deposits mobilizing schemes (also called ponzi schemes) under various guises and are liable for action under the Prize Chits and Money Circulation Schemes (Banning) Act, 1978. This Act is administered by Ministry of Finance (Department of Financial Services) through the State Governments and figures of prosecution etc. are not being maintained centrally."
In the “theatre of the absurd” of West Bengal’s politics today, what was a serious case of an unexplained death of a student leader in police custody has now been rendered “small and petty”, and an untoward incident in Delhi which comes much closer to that description, has become an excuse for the ruling party to go on a vengeful rampage across the state. The question before all peace loving and democratic minded people in West Bengal is whether such absurdity should be allowed to prevail? Shouldn’t we demand an end to this disgraceful eye-for-an-eye approach in politics and reassert the voices of reason and sanity?
Ex-students of Presidency University (College) unequivocally condemn the attack on the historic institution.
Readers are requested to sign this petition to the Chief Minister of West Bengal on steps to be taken on Sudipta Gupta's unfortunate death in custody of the Kolkata Police. The petition is hosted at ipetitions.com and is reproduced here. It can be signed at this link: http://www.ipetitions.com/petition/justice-for-sudipto-gupta/
Sudipto Gupta, a 23 year old bright student, was a leading left student activist of SFI committed to change the society for a better one. He made his choice early in life - to work for the betterment of society. In one of the most horrific incidents in Kolkata, he was beaten to death in police custody after he had courted arrest. What was his fault? He was not demanding anything for himself. He and his comrades were agitating peacefully demanding student union elections in West Bengal, which is a fundamental right of any student. The fact that a student has been beaten to death for demanding student union election shows the abyss that West Bengal has reached with the so called ‘pariborton’ in the state.
The magnificent victory of the CPI(M)-led Left Front in Tripura - winning 50 out of the 60 seats – and the success of the LF candidate in the Nalhati by-election in West Bengal has been interpreted as a “re-emergence” of the Left parties by a senior CPI(M) leader. This does not seem to be a rigorous assessment.
"What we need in India today is a popular counter-offensive against the neoliberal establishment, which has now decided to attack the working people to buttress its rule. This obviously requires the unity of left, democratic and progressive forces."
Reflections on mass celebration in Kolkata at KKR's win in the IPL.