Realty boom behind graft in land registration

     The registration department of late leads other departments like revenue, transport, police and the state electricity board in the number of cases filed against it by the Department of Vigilance & Anti-Corruption Cell. Interestingly, the number of cases filed against officials of registration department was only five during 2003-04 when the state witnessed the first real estate boom of the decade. In fact three years back, the land registration department trailed behind other departments in the number of corruption cases it faced. The focus has now shifted to registration department and its number has gone up although the departments like, revenue, transport, police and electricity Board were notorious for bribes since ages. One is at a loss to understand and prescribe a fool-proof remedy to such a situation prevailing in the country. Despite changes in governments and the presence of a bunch of good-intentioned bureaucrats and technocrats, the issue of high-level corruption and petty bribes continues to flourish at the cutting edge level of government and public agencies unfortunately.

Rajiv Gandhi Equity Scheme [RGES]

Union Finance Minister Pranab Mukherjee in his last budget speech announced the introduction of RGES. God knows the real reason for naming that scheme after the former Prime Minister and the justification for it.

It seems the SEBI, the regulator has asked the Finance Ministry (G.O.I) to route the tax-saving Rajiv Gandhi Equity Scheme through mutual Fund (M.F). The chairman of Securities and Exchange Board of India U.K.Sinha had submitted a proposal in this regard to minimize risk associated with direct stock investment for new investors. A good proposal indeed!

Instead of naming it after Rajiv Gandhi who already has many schemes and public assets in his name all over India, it could have been named after Harshad Mehta so that it could act as a good deterrent to the new investors!!

(May 20, 2012 Karur)

On the eve of India's Presidential poll.

Shri Pranab Mukherji, the former Union Finance Minister was nominated by the UPA as its candidate for the post of President of India. NDA's truncated alliance along with AIADMK and Biju Janata Dal led by Mr Navin Patnaik supported Shri P.A.Sangma as their candidate for the elections.

Ms Mamta Banerjee, the Chief Minister of West Bengal vehimently advocated the candidature of Dr Abdul Kalaam who of course very correctly refused such an offer. It is her gesture that earned a very bad name in the public. Her stand was totally devoid of any reason and mature understanding of the current situation in the country . Ultimately she had to come round and support the UPA's candidate. What a poor showmanship in political arena! Pranab Mukherji is bound to win the elections and become the President of India. A well-managed affair by Smt Sonia Gandhi!