Not sure how many of you saw Vir Sanghvi’s article on how the older generation has failed the younger gen…he went on the say that the games should have been handed over to the private sector.
This is a fantastic statement making an assumption that the private sector has no vested interests, and is full of paragons of virtue. Having spent 3 decades – a big part of it dealing with the private sector, I refuse to come to such a hasty conclusion. In the 1990s I had to deal with a few hotel projects (thanks to a financial institution) – and it meant a few trips to the Capital city. Here you could see the raw power of vested interests. Goa and Agra were very important Indian destinations for the foreign tourists – and they had to use Mumbai and Delhi airports ONLY! The hotel lobby ensured that Agra and Goa did not get a nice big airport for a very long time.
Even recently (hate saying it) heard about the ‘real reasons’ why the Navi Mumbai airport was being delayed.
To say that the government did not do a good job is easy. However saying that the private sector is a magic wand by which all problems will be solved is …I do not know what! Surely Indira Gandhi must have created such passion in 1969 when she went on nationalising all the banks – but did not benefit from the consolidation. Let me explain. When a few 100 life insurance companies were nationalised, it became ‘Life Insurance corporation of India’. When each princely state was taken over the banks became ‘State bank of Hyderabad’…’St b of Bikaner and Jaipur’, ‘S…Trivandrum’. All nationalised banks should have become ‘Super bank of India’ – and all merged on day one. However nothing of that sort happened…
Now the government is saying “if we privatise (which means we sell a few shares to the public) all problems will be solved. No clue how – NTPC will continue to boot lick to the power min, SBI to Fin Min…and they fund CWG.
here is the link to Vir Sanghvi’s post
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