• Sign Up
  • |
  • Sign In Sign Out
  • |
  • Make us your home
  • |
  • RSS
1 2
1 15
1 4
1 9
1 13
1 14
IPO
1 25
1 5018
SME
1 5018
  • LYONDELLBASELL UNDER CHAPTER 11 BANKRUPTCY PROTECTION SINCE JAN-2009
  • LYONDELLBASELL IS ONE OF THE WORLD'S LARGEST PETROCHEMICALS COMPANY
  • RIL MAKES NON-BINDING CASH OFFER TO BUY CONTROL IN LYONDELLBASELL
  • OFFER APART FROM EQUITY FINANCING PROPOSED BY RIL FOR LYONDELLBASELL
  • OFFER UPON EMERGENCE OF LB FROM CHAPTER-11
  • OFFER SUBJECT TO DUE DILIGENCE & SUFFICIENT CREDITOR SUPPORT
  • LYONDELLBASELL: RIL OFFER POTENTIAL ALTERNATIVE TO REORGANIZATION PLAN
  • LYONDELLBASELL: TO TRY TO MAXIMIZE VALUE FOR ALL CREDITORS
  • LYONDELLBASELL PRIVATELY OWNED BY PROCHEMIE GMBH
  • RIL: NO ASSURANCE THAT OPPORTUNITIES WILL RESULT IN A TRANSACTION
  • RIL: REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH IN CORE BIZ
  • SUBMITTED TO LYONDELLBASELL NON BIDDING OFFER TO ACQUIRE FOR CASH
  • CASH OFFER FOR A CONTROLLING STAKE UPON EMERGENCE FROM CHAPTER 11
  • OFFER PURSUANT TO ITS PLAN OF REORGANISATION
  • OFFER IS PRELIMINARY AND SUBJECT TO CUSTOMARY CONDITIONS
  • RIL REVIEWING OTHER GROWTH OPPORTUNITIES FOR GROWTH
  • Stock moves on WAP: Logon to mobile.ndtv.com on GPRS browser
  • SMS INDEX to 56388 for live market updates
  • Finance buzz: Logon to mobile.ndtv.com on GPRS browsers
  • Stock updates: SMS STO followed by scrip name to 56388
  • For Kingfisher Airlines flight updates sms KING to 56388
  • Email us at buyorsell@ndtv.com
  • Call us at 011-26201171
  • DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q3
  • GOLDMAN SACHS DOWN 1.6%, GE DOWN 1.1%, CISCO DOWN 1%, MERCK UP 3.2%
  • DOW JONES FALLS FOR 3RD STRAIGHT DAY TO END LOWER BY 0.1% ON FRIDAY
  • DELL LOST 10% ON FRIDAY AFTER MISSING REVENUES & EARNINGS TARGET FOR Q2
  • U.S MARKETS ENDED LOWER ON FRIDAY AS TECH STOCKS TOOK THE BIGGEST HIT
  • NASDAQ DOWN 0.5%, S&P 500 INDEX LOWER BY 0.3% AT CLOSE ON FRIDAY
  • FOREIGN FUNDS NET SELL RS.463.89 CR IN EQUITIES ON NOVEMBER 20 (PROV)
Updated: 05/09/2008 | 10:23 PM IST
Singur row: The real agenda
Ashutosh Sinha
Friday, September 05, 2008 (New Delhi)
Comments:
Read (0)
The 400 acres that Mamata Banerjee has been crying hoarse about is not the issue. It is not the 997 acres that has been allotted to Tata Motors by the West Bengal government that is the real issue. It is not about the Rs.1500 crore investment that Tata Motors has made for the plant. Nor is this issue about the 56 vendors of Tata Motors that have set up shop around what was to come up as the mother plant for Nano in Singur. 

It is also not about the Rs 350 crore hit that Tata Motors is going to take if the plant and machinery were to be shifted out of Singur.  

This is now about calling the bluff of politicians, and it does appear that Ratan Tata has succeeded in doing that. 

The Trinamool Congress supremo Mamata Banerjee has been insistent that the agitation against Tata will continue till the 400-acre land is not returned to the farmers. This is not a contiguous piece of land that the fiery Bengali leader is fighting for. Some of this currently being occupied by the vendors and some of it also has the Tata Motors facilities, which are part of the plant.
If the land around the plant is not contiguous, how can an industrial unit function smoothly is beyond comprehension. There is nothing in the history books that indicates that Mamata Banerjee has any experience of having worked in the automobile industry, or having run a company in the past. That begs the question – how can a political leader decide how an industrial unit is to be organised and run? 

A number of leaders from the automobile industry leaders have spoken out for the need to let the Nano project go ahead, with the image of the industry and the country in mind. Other industry leaders and industry associations have tried to reason against Mamata’s public stand. Global media, eagerly looking forward to an Indian automobile company making history, have taken note of how the project is threatened because of “opposition from farmers” in Singur. How can the collective thinking of so many not be better than one leader’s? 

This fierce opposition from Mamata has to be seen in the context of the 31-year long rule of CPM in the state. The Congress party has failed to break the Left stranglehold over these years. Mamata has been one firebrand leader who’s seen as someone who could turn the tables and break the Left citadel. That again begs the question – at what cost to people and industry? 

As the Chief Minister makes desperate attempts to make sure that Singur is part of history, it appears one leader is intent on not letting that happen. Mamata Banerjee believes that the interest of the farmers whose land has been acquired is far more important. This is not to argue that the farmers should not get their due. Clearly, farmers must have their share. Some are realizing what Tata moving out of Singur could mean since there are some reports of protest, fearing a fall in land prices around the area.  

It is no secret that West Bengal has been anything but the hottest destination for investors. The strongly entrenched trade unions have made sure that manufacturing industries are driven away from the state. Infosys, Wipro and some other tech companies are now looking at Kolkata as a destination, but getting the manufacturing industry to agree to set up shop is the state is easier said than done. Does her action make West Bengal a more attractive destination for investors? 

Mamata Banerjee would have certainly served her supporters, and the farmers, better if she had focused on the real issues. She may believe that CPM has not done a good job of it in the last 31 years. If Tata Motors were to officially announce that it is moving out of Singur, there will be only one loser – the local population. Who benefits if Tata moves out of Singur? 

When did we last see Mamata Banerjee take to the streets in the 88,853 square km of the state government territory, demanding better education and better healthcare for people? Take a look at the indicators and it will be clear that West Bengal is nowhere near the top.

According to the 2001 census, 13 states and five union territories have a literacy percentage better than West Bengal. The healthcare indicators are nothing to write home about too, though it is clearly showing an improving trend. But West Bengal is no where near the top. So, why not focus on the real issues, which will improve the lot of the people for sure? 

Lots of questions! It is a pity that politicians choose to give answers only when it suits them.

Comments:
Read (0)
Comments
 
Market Watch
         
Graphs
Stocks

                                Moremore
Stock Dashboard
Trading Calls
Rupal Saraogi
Rupal Saraogi
2.09% status
Current: Rs 1755.5
Simi Bhaumik
Simi Bhaumik
2.43% status
Current: Rs 2335.75
Stock Recos
The investors should remain invested in the stock
The investors can book partial profit and hold the remaining stock with a stoploss of closing below Rs 105
Buy or Sell
Today's Analyst: Neera Jain
Query : Sukhendu, an investor from Mumbai, has 500 Wockhardt at Rs 184/share.