Crony Capitalism

Accusing it of practising Cronyism, Congress asks govt to check oligopolies

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

Banker's Trust: Has crony capitalism hijacked bad loan resolution?

If bankers move fast and preserve the enterprise value of defaulting companies, recovery rate will improve even as the new insolvency law, much like the GST, remains a work in progress

Shekhar Gupta: Politics takes economic turn

New ideological battle lines have been drawn in Indian politics and they're on economic terrain. It is change for good

For Modi govt, crony capitalists are 'best friends', Rahul Gandhi says

Congress leader Rahul Gandhi alleged that for the Modi government, crony capitalists are "best friends" and protesting farmers are Khalistanis

Demonetisation 'destroyed' economy, helped few crony capitalists: Rahul

Gandhi and the Congress have been alleging that the 2016 demonetisation was not in the interest of the people and had adverse effects on the economy, a charge the government has dismissed repeatedly

Best of BS Opinion: Journey of economic reforms, ease of doing biz & more

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

Crony capitalists' wealth in India shrinks, says The Economist

Govt's tough stance on graft, RBI's check on bad loans clean up 'rent seeking' fortunes