The Satyam scandal has been wrongly called 'India's Enron', after the gigantic fraud at the US energy-trading company, which came to light in 2001 and became a metaphor for corporate crime.In fact, the Satyam scam is much bigger in absolute magnitude and likely impact. The amount stolen from Enron was Rs 2,866 crores (Rs 28.66 billion) at current exchange rates. In the Satyam case, according to its promoter-chairman B Ramalingam Raju, Rs 7,136 crores (Rs 71.36 billion) were involved. Also greater are the number of defaulting agencies and their failures,writes Praful Bidwai.
Praful Bidwai argues for a multilateral approach to avert overbearing US interference. "But to adopt it, we must get out of denial and mutual recrimination", he writes in The News.
The Tatas’ retrograde decision to shift the Nano to Gujarat must not be allowed to be used to obliterate the blemish of the state-sponsored carnage of Muslims.
''...our ruling elite continues to repose blind faith in neoliberal free-market ideas even as these get discredited in the developed capitalist countries because of their contribution to crises, instability, destruction of wealth, inequality, and undermining of social cohesion''.
Praful Bidwai writes on rediff.
In contrast to the euphoric headlines in the Indian media proclaiming a 'nuclear dawn; and the 'remaking' of the world to suit Nuclear India's ambitions, the internal reception to the completion of the heated debate in the Nuclear Suppliers' Group in Vienna [Images] was sullen and frosty. When the decision, incontestably a major decision, to grant India a waiver from the NSG's tough trading rules was announced on September 6, there was no applause whatever.
As the tortuous negotiations for the United States-India nuclear deal enters its final stage, it becomes clear that India seriously underestimated the discomfort and opposition the agreement would arouse in many countries because of the special privileges granted to India, largely on New Delhi's terms,says Praful Bidwai.