Crony Capitalism

Accusing the Modi government of practising "cronyism", the Congress on Monday said companies must expand but at the same time, the government has a responsibility to ensure oligopolies or monopolies do not emerge and that undue advantage arising out of access to political power is not exercised. Congress general secretary, in-charge communications, Jairam Ramesh alleged that market concentration continues to grown under Prime Minister Modi's watch, and has reached a new high in key industries such as telecom, airlines, cement, steel, and tyres. He also shared on X a media report which claimed market concentration continued to increase in India's key industries as top players grabbed a larger share of the business in 2023-24 either through organic growth or acquisition. In his post on X, Ramesh said, "Cronyism is the non-biological Prime Minister's primary economic policy. Market concentration continues to grow under Mr. Modi's watch, and has reached a new high in key industries such

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Here's a selection of Business Standard opinion pieces for the day

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