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P. Chidambaram poses 20 tough questions on Rs 6 lakh Cr NMP

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P-Chidambaram

Senior Congress leader and former Union Finance Minister P. Chidambaram on Friday posed 20 questions on the Centre’s proposed National Monetization Pipeline (NMP) intended to ‘monetise’ certain assets and earn Rs 6,00,000 crore revenue over the next four years.

Stating that the government should answer the questions, he demanded to know the NMP objectives and whether it was solely intended to raise the revenues over the next four years.

Referring to the criteria adopted upfront to identify the PSUs that would be disinvested or privatised during the previous UPA government, Chidambaram queried whether the same is the case with the current NDA regime.

Pointing out that for infra projects like roads/highways, a PPP policy already exists, he asked what is the difference, if any, between this (PPP) model and the one that would be adopted by the Centre under the NMP, while addressing the media in the country’s commercial capital.

Moreover, if an asset is ‘monetised’ for 30-50 years, what is the value of the piece of paper that declares the government to be the ‘owner’ of that asset, what kind of asset will be returned to the government at the end of the period or would it be a “fully depreciated asset” worth practically nothing.

“Since the NMP is silent on the subject, will the government stipulate in the contract that the amount of depreciation should be put in a Depreciation Reserve Account which was used only to maintain, upgrade or add to the asset so that at the end of the lease period a valuable asset is returned to the government,” Chidambaram asked.

He also sought answers on whether there will be provision in the contract to prevent asset-stripping by the lessee, the terms included in the Invitation to Bid (ITB) to ensure that the ‘monetisation’ process does not create monopolies or duopolies in that sector, especially to prevent such (monopolies/duopolies) emerging in the ports, airports, telecom and power sectors.

The finance expert queried whether the lessee will manage the current levels of employment and the policy of reservations, or other policies, subject to sectoral regulators, etc., in the ‘monetised’ asset.

Harking to the UPA which identified the Railways as a ‘strategic sector’, he asked what are the other sectors the Centre has identified as ‘core’ or ‘strategic’ that would be kept out of the NMP purview.

“Has the government examined the impact of implementation of the NMP on the prices of goods and services in the sector/industry concerned? What will the government or the regulator do in case prices are increased by the lessee of the ‘monetized’ asset,” Chidambaram demanded.

Referring to the government’s revelation of the expected revenue of Rs 6,00,000 crore in four years, he asked whether the government would shed light on the total capital investment in the identified assets that are expected to yield the aforesaid revenue.

“The identified assets must be currently yielding a certain revenue every year. Has the government calculated the difference between the current revenue (undisclosed) and the expected revenue (of Rs 6,00,000 crore) over a period of four years? If so, what is the difference between the two amounts each year during the four year period,” Chidambaram asked.

On the government’s announcement that the NMP would be co-terminus with the National Infrastructure Pipeline (NIP) that is expected to require Rs 100 lakh crore, the ex-FM sought to know how the Rs 6,00,000 crore over a four year period be sufficient to finance a Rs 100 lakh crore NIP.

Furthermore, he sought an assurance from the Centre that the expected sum of Rs 6,00,000 crore “would not be merged with general revenues or used for general expenditure”.

Chidambaram further posed if the Rs 6,00,000 crore, when released, would not be diverted to partly-finance the fiscal deficit (Rs 5,50,000-crore in 2021-2022) or retiring old debts.

The Congress leader asked if the government floated a consultation paper on NMP, consulted various stakeholders including the workers or trade unions and demanded to know the outcome/minutes of these consultations.

He also asked whether the NMP was discussed in Parliament, and if not, whether the Centre plans to consult the Opposition Parties or debate in parliament.

Chidambaram said that the US is contemplating measures to contain monopolization and unfair trade practices of giants like Google, Amazon and Facebook, China has announced plans to rein in its giant tech firms and South Korea contained the influence of its huge family-controlled business conglomerates.

“Does the government intend to introduce similar measures while implementing the NMP,” Chidambaram asked, saying the Centre “is obliged to answer these questions”, and the media must demand replies from the government.

National News

Confusion over NCP’s strategy for municipal elections: Contradictory statements by Walse Patil and Praful Patel

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Mumbai: Before the start of the two-day Chintan Shivir of the Ajit Pawar faction of the NCP (Nationalist Congress Party) in Shirdi, senior party leaders Dilip Walse Patil and Praful Patel made contradictory statements regarding the municipal elections. These statements have raised questions on the party’s strategy.

Speaking to the media, Dilip Walse Patil said, “If there is an alliance, it is fine, otherwise NCP is fully prepared to contest the elections alone.” His statement made it clear that the party is not completely dependent on the alliance.

On the other hand, Praful Patel, showing inclination towards the alliance, said, “Wherever possible, we are ready to contest the elections as a grand alliance.” Patel’s statement has created confusion about the party’s election strategy.

These contradictory statements indicate differences in the Ajit Pawar faction of the NCP regarding the election strategy. This has created an atmosphere of confusion among the workers.

The idea of ​​a grand alliance for the municipal elections has not taken a concrete shape yet. It will be interesting to see whether the NCP goes with the alliance in the upcoming elections or on its own strength. Discussions have intensified in political circles on this stance of the party.

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National News

Bhaskar Jadhav’s shock to Thackeray’s faction? Speculations intensify about joining Shinde faction

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Mumbai: Speculation has intensified that Bhaskar Jadhav, the aggressive leader of the Shiv Sena Thackeray faction and the only MLA from Konkan, will leave the Shiv Sena Thackeray faction and join the Shinde faction. After the failure of the Mahavikas Aghadi in the assembly elections, Bhaskar Jadhav indirectly expressed his displeasure over the leadership of the Thackeray faction.

Recently, Jadhav had said, “Shiv Sena Thackeray faction has now almost become Congress,” and through this statement he had given a sharp message to Uddhav Thackeray. After his statement, discontent within the Thackeray faction has emerged further. There is a discussion in political circles that the Thackeray faction in the Konkan region may suffer a major setback due to Bhaskar Jadhav.

Shinde faction claims: Big entry will happen soon

Shinde faction leader and minister Uday Samant gave a big statement in this context and said, “There will be a big entry from the Thackeray faction to the Shinde faction in the next 8 days.” Samant also said, “The political equations will change by January 24. The position of the Thackeray faction in Ratnagiri has become as weak as that of the Congress, and now their leaders are joining the Shinde faction.”

Will Bhaskar Jadhav join the Shinde faction?

When asked about Bhaskar Jadhav, Uday Samant said, “Jadhav himself described the Thackeray faction as similar to the Congress. If he joins the Shinde faction, it will strengthen the legacy of Bala Saheb Thackeray’s ideas. His guidance will be very beneficial for us.” This statement of Samant has brought Bhaskar Jadhav’s political activities into further discussion.

Discussion intensifies in political circles

Bhaskar Jadhav’s recent activities indicate that he is dissatisfied with the Thackeray faction. Dissatisfaction with the leadership is also being seen among other leaders of the Shiv Sena Thackeray faction. If Jadhav joins the Shinde faction, it can have a big impact on the politics of the Konkan region and the organizational structure of the Shiv Sena Thackeray faction.

Bhaskar Jadhav’s next move can create new equations in Maharashtra politics, and the whole state is keeping an eye on it.

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Crime

RG Kar verdict: Tight security in Kolkata court; parents appeal to people not to end stir for justice

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Kolkata, Jan 18: With just a few hours left for a special court in Kolkata to deliver its verdict on the rape and murder of a woman doctor of R.G. Kar Medical College and Hospital in Kolkata in August last year, the entire court premises have been wrapped under a blanket of security since early Saturday morning, even as her parents issued a last-moment appeal to the public not to end the fight for justice.

The cops of Kolkata Police have raised layers of barricades within the entire court premises apprehending that there will be a major gathering of common people, representatives of the civil society as well the state’s medical fraternity.

On Saturday morning, the mother of the victim issued a last-minute appeal through social media to the common people not to end the movement with the verdict being pronounced later in the day by the special court.

“If the dreams of our deceased daughter do not get justice, her life-long achievements would become fruitless. We pray that no girl faces such pain which my daughter faced. All those who are responsible should not be spared at any cost. They should be punished so that no other daughter faces the same pain like ours,” the appeal from the victim’s mother read.

According to them, Saturday’s verdict will be the first step in this direction.

“The real justice will be achieved only when all the masterminds behind the crime are brought within the ambit of the investigation and punished. We all should raise the demand not for just the sake of my daughter but for the sake of security of all the daughters,” her appeal read.

“As a mother all I can say is that I have lost everything. But I will continue my fight for other daughters till justice is achieved,” her appeal concluded.

On Friday evening, the parents of the victim expressed apprehension that their quest for justice for their daughter would be limited to conviction and sentencing of the “sole prime accused” in the case Sanjay Ray, an erstwhile civic volunteer attached to Kolkata Police, thus allowing the “suspected” conspirators involved in “tampering” and “altering” with the evidences in the matter, of remaining behind the curtains forever.

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