Comments by "agon noga" (@agonnoga6100) on "Why is Modi govt's disinvestment plan marred with hurdles?" video.

How can gifting 120,000 crores Air India to Tata for 2,500 crores be called a disinvestment and not loot of collective wealth of the nation? Why PSUs are being gifted to few crony capitalists with loss making businesses literally for free?? If a political party cannot run government institutions, then it has no right to be in the government. PSUs have been destroyed by corrupt and incompetent IAS babus and netas who are in the payroll of Adanis and Ambanis aka neo East India Companies.
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@rohitkewat8730 PSUs are not businesses but provide essential services at affordable prices to the masses. Our corrupt private companies which are all bankrupt cannot compete even with PSUs which is why through corrupt politicians and IAS babus profit making PSUs have deliberately been made sick so that they can be sold for a song to few crony capitalists in bed with corrupt politicians. Besides this, in a nation where almost no one pays income tax, it is money from PSUs which funds the government. If these PSUs are gifted to Tata Adani Ambani then government will raise taxes and excise which is why we are paying 120 rupees for 60 rupees petrol. All these PSUs are public property as they have been created with public wealth. The government is not the owner but custodian of public wealth. It cannot gift away public wealth to few businessmen literally for free.
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@vabhdman What you are suggesting is like throwing the baby out with the bath water. The filth I.e. babus and netas have to be removed from administration of PSUs which are managed by professionals employed by the company through a rigorous recruitment process. Once PSUs are allowed to be managed professionally without the interference of corrupt and incompetent babus and netas they will perform far better. Air India, prior to UPA2, was a profit making airline. It was destroyed by Praful Patel by selling profitable routes of Air India to foreign airlines and merging loss making Indian Airlines with Air India. There are also several corruption charges wrt to purchase/ lease of advanced passenger jets. Indian Airlines due to its very nature of serving unprofitable routes cannot be a profit making undertaking. This is why we need PSUs to serve the nation.
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@vabhdman Air India was created to serve the masses. PSUs, don't have monopolies. No one is stopping anyone from investing in his business and make a profit. Fact is, our crony capitalists are so pathetic, that they can't compete even against PSUs let alone MNCs. One of the reasons why India pulled out of RCEP at the last minute because of pressure from crony capitalists. PSUs are not commercial enterprises but companies created by the government to provide essential services to the public and nation at large. Indian army is a pure cost center and makes no profit. Should it be shut down?? Please talk sense.
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@vabhdman you think inability to connect different parts of India is not a security threat? Air India and Indian Airlines provided the best services which few airline can afford. It seems you have never flown in one. PSUs were created because our private sector then as now are not competent in many spheres. Things have improved a lot since early days but very far from desired levels. Who will provide services to loss making routes across the country?? Who will join the various remote regions of the country which remain undeveloped due to lack of accessibility? No problem, return back those enterprises which were nationalized after taking away all that the public has invested in these companies after nationalization. You will see these companies were a shadow of what they became after nationalization.
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@vabhdman If you have traveled by Air India and Indian Airlines you'll know their service is better than many private airlines. This is one of the reason why Air India incurs loss. Air India always has the most advanced aircrafts in the world. Tier two and three cities are served by aircrafts which are old. But no other airlines serve these cities. There are several parts of India both at the border and deep heart of India where road and rail network cannot reach. These places can be effectively connected only by air. Imagine having to travel to some region for days by road or by train. Several companies don't visit B schools and engineering Institutes which are not connected by air. Now imagine fate of those regions which don't have proper schools and colleges let alone B schools and engineering Institutes?? To connect such regions with rest of India you need airlines which will operate at loss or little profit which can only be provided by state owned organization. FYI, the government is run by the money it gets from PSUs particularly the oil PSUs and not the likes of Adani Ambani who pay next to zero taxes. If these PSUs don't exist forget essential services, we cannot fund the government as income tax is already extremely high for the extremely few who pay taxes.
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@vabhdman PSUs are needed for strategic and essential services. If everything is going to be provided by commercial enterprises through free market economy, then why do you need a government?? Commercial activities should only be limited to private enterprise. But strategic and essential services have to be provided by the government with the taxes they collect from the masses. No one is stopping private companies from investing in any industry. Why nearly all private companies are bankrupt and the ones which are doing well are doing so solely due to support from the government. Which commercial enterprises depend on government and not free market for survival?? Even if you make air travel tax free, how many do you think can afford that air fare without government subsidy? Why do you think the airline Industry both in India and abroad has a history of failures? India has the most expensive petrol in the world after Mukesh Ambani opened his petrol pumps immediately after Modi became PM. Prior to that, Congress government forced oil PSUs to buy Reliance petrol and sell them in oil PSU petrol pumps. What can you say about companies who need PSUs and government support to survive in business??
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@vabhdman can air fare be the same as Indian railway ticket?? Your idea of costing and pricing is next to zero. Do you have any idea how much it costs to own, operate and maintain passenger jets?? There's a very good reason why national airlines are owned by the government. IT industry is today as sick as rest of the economy as they basically work as contractors for major international firms. Almost none have a product like Windows Android etc. This is an endless discussion and I rest my case. Bye
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@vabhdman it is not a matter of low demand but affordability. Government can give subsidy to government owned institutions and companies. Private companies, cannot be run with government subsidies as it leads to corruption. This is why we need PSUs. You think 8000 crores let alone 1000 crores can cover the subsidies to airline companies? Do you know India's rail budget? Are you aware TCS and Infosys are in deep trouble and floated up with government contracts? Have you heard the hue and cry resulting from BJP and RSS leaders complaining repeated bungling by Infosys in several government projects handled by them? Government will run government institutions and companies whereas private companies will run their organizations through forces of free market economy which is what capitalism and entrepreneurship is all about. Government propping up private companies is return to the days of East India Company and British Raj which is known as crony capitalism the root of corruption and India's backwardness.
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@vabhdman I think you have no idea how PSUs are governed. There are several layers of internal and external vigilance and auditing agencies scrutinizing every activity in any government organization. Even if you receive "gifts" over a certain sum of money, you have to declare that to the government. CVC CBI CAG are few of the external agencies monitoring every government organization. Whereas, in Indian privately companies, corruption is a way of life and it has been institutionalized without anyone to check them. Can you tell me the name of one product from TCS?? TCS, like Infosys, gets large orders from the government due to huge donations to the ruling political parties. Except TCS, rest of Tata group companies are either running at loss or facing severe financial crisis which was brought out by Cyrus Mistry when he was the CEO of the group. How can you blame the government for not giving adequate parameters when government websites handled by Infosys keep crashing due to high traffic inflow? Nationalizing was wrong and so is controlling a subcontinent like India centrally which was never the plan when the British wanted to quit India. It was these business houses who made their wealth under British rule who were vehemently opposed to the 1946 cabinet mission plan of strong autonomous states with few activities being managed centrally as that would lead to end of their monopoly. Withdrawal of Congress from cabinet mission plan led to the partition of India and not Hindu Muslim divide as we have been led to believe. Prosperity will only happen when states manage their own show and centralized rule is brought down to the bare minimum.
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@vabhdman Which PSU did your "friend" join after clearing "GATE" exam?? You have no idea how employees are recruited in PSUs. Some employees are employed through campus and some have to appear for all India exam which is not GATE. After clearing the exam there is group discussion, interview and medical after which one becomes an employee of a PSU. You have no idea how stringent tendering process is in PSUs. You have vigilance and internal auditors watching every step internally and CBI CAG etc externally. Both TCS and Infosys are dependent on government contracts for their very survival. Why these products are unknown to the public?? Even in the corporate B2B world these products are unheard of. Government held companies are very fast in clearing payments unless there's a corrupt official handling the payment process. There's fixed timeline and well defined process for clearing payments as everything is now governed by ERP. This is what we are discussing and debating about... inefficient, corrupt, loss making private companies being propped up by the government. This is what the NPA mess is all about which has bankrupted India's entire financial system. When you are the subject matter expert, isn't it your job to understand the customer's requirement?? It is an extremely bad businessman who will blame his customer. This is the problem with our private sector which is why they perennially need protection which makes India into a closed corrupt poverty-stricken economy and country. If business houses were brought to their knees then Tata, Birla, Dalmia, Goenka, Godrej etc wouldn't be around. There would be no Adani Ambani who are basically billionaires created by politicians.
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