{"id":225776,"date":"2023-02-09T20:45:58","date_gmt":"2023-02-09T15:15:58","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=225776"},"modified":"2023-02-20T14:09:08","modified_gmt":"2023-02-20T08:39:08","slug":"all-governments-are-crony-capitalists","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/all-governments-are-crony-capitalists\/","title":{"rendered":"All governments are crony capitalists"},"content":{"rendered":"\n

Source<\/strong>: The post is based on the article \u201cAll governments are crony capitalists\u201d <\/strong>published in the Business Standard <\/b>on 9th February 2023<\/b>.<\/p>\n

Syllabus<\/strong>: GS 3 \u2013 changes in industrial policy and their effects on industrial growth.<\/p>\n

Relevance<\/strong>: About business-political nexus.<\/p>\n

News<\/strong>: Political connections for business purposes often happen due to complex rules and regulations and the evasive nature of rules in India. The recent Hindenburg report on the Adani group<\/a> <\/strong>again created a debate on the business-political nexus.<\/p>\n

Why there is a debate on the business-political nexus at present?<\/strong><\/h2>\n

This is because the a)<\/strong> Adani group has a dominant presence in areas in which government policy plays a major role \u2014 ports, airports, electricity, green energy \u2014 and the principal competition mostly comes from the public sector, b)<\/strong> CAG report also raised questions about \u201cundue benefits\u201d that the Gujarat government gave to Adani Ports by waiving waterfront and other charges, c)<\/strong> Involvement of government-owned Public Sector Banks participation and d)<\/strong> Both the NITI Aayog and the finance ministry raised questions citing financial risk and performance issues in the Adani group’s airport projects.<\/span><\/p>\n

What are a few examples highlighting the business-political nexus?<\/strong><\/h2>\n

The telecom sector spectrum allocation has highlighted the business-political nexus. The Supreme Court\u2019s judgement cancelled all those allocated licences.<\/p>\n

The sand mafias, who are destroying the environment, would never have flourished without local political backing.<\/p>\n

The construction business, which has long been India\u2019s largest and fastest growing employer, is a good example of cronyism.<\/p>\n

To prevent the business-political nexus some degree of moderation is required to ensure the government’s incorruptibility.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

Source: The post is based on the article \u201cAll governments are crony capitalists\u201d published in the Business Standard on 9th February 2023. Syllabus: GS 3 \u2013 changes in industrial policy and their effects on industrial growth. Relevance: About business-political nexus. News: Political connections for business purposes often happen due to complex rules and regulations and… Continue reading All governments are crony capitalists<\/span><\/a><\/p>\n","protected":false},"author":10311,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"footnotes":""},"categories":[1230,9],"tags":[10503,216],"class_list":["post-225776","post","type-post","status-publish","format-standard","hentry","category-9-pm-daily-articles","category-public","tag-business-standard","tag-gs-paper-3","entry"],"jetpack_featured_media_url":"","views":{"total":0,"cached_at":"","cached_date":1704684464},"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225776","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/users\/10311"}],"replies":[{"embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/comments?post=225776"}],"version-history":[{"count":0,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/posts\/225776\/revisions"}],"wp:attachment":[{"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/media?parent=225776"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/categories?post=225776"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forumias.com\/blog\/wp-json\/wp\/v2\/tags?post=225776"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}