THE 'COALGATE' MASSACRE

The largest of the largest scams that our nation has ever faced is here. Indian history's biggest scam - 1.86 lakh crore rupees - in terms of money has shaken the people of this nation terribly. The other important thing is that this scam involves the most honorable Prime Minister of India in its primary target list. The period of 2004-2009 witnessed the most disheartening disaster when the UPA was holding its power and Dr.Manmohan being the Prime Minister along with holding the Coal and Petroleum Ministry too. After the Comptroller and Auditor General (CAG) submitted his report on last Friday, the monsoon season of the Parliament rose in temper. All parties, including Bharatiya Janata Party (BJP), United Progressive Alliance's (UPA) main rival straight-away demanded the resignation of Dr.Manmohan Singh. This caused fury among the ruling party in a bigger way. Many of the senior Congress members, including Mr.P.Chidambaram tried to convince the House but surrendered in vain. Opposition parties with a bigger scam to play on court cannot wait in silence. They broke the honor of the House many times and this was evident when the proceedings of the both Houses were called off for the entire week. This said-to-be forgery in coal blocks allocation has come in a wrong time for the ruling party. Just after nearly surviving the effects of the three previous scams - 3G Spectrum Tele-communication scam, Commonwealth Games, Delhi, 2010, Aviation Industry scam, UPA is unable to defend its position dealing with the 'Coalgate' scam. This pertains to the allotment of coal blocks in an illegal manner without proper bidding. The industries which had been assigned with the coal blocks have paid lump sums of money to the government for the sake of being allotted with the required coal block at almost nil competition. This has caused the CAG to probe into the activities of the Coal and Petroleum Ministry of 2004 period. That probe has only found the biggest scam in terms of money. Even when the coal hasn't been taken out of the land, the responsible have paid the taxes correspondingly. This action has caused the government goodwill amidst the fire. The reasons are that the coal is still present and the government has received additional money in terms of taxes. Whatever the situation maybe this problem will not come to a sudden conclusion. While the opposition parties are demanding the downfall of the Prime Minister, making the Prime Minister step down will only make the Congress 'digging for its own grave'. So the conclusion could only be possible if the responsible ministers concede the truth what actually happened and that Opposition are willing to lend their ears to that voice. The situation is really not better at the moment now in this monsoon season for the Parliament. Winter is not far away as well and thus there is no getting away with such a terrible thing. The accused has to answer and the winter session for the Parliament will be meant for the one. Opposition will be waiting with their plans to outwit the ruling side. So seeing the truthful end is inevitable. Along with the Delhi clouds, we will wait and watch what the Parliament is to offer us. The truth or the 'reason'? 'Coalgate' or 'Grave-gate? Praying God, for good things to happen!!

RUINS IN THE INDIAN ECONOMIC EMPIRE

There have not been many days in the year we wake up to read the newspaper that the inflation in the country has touched an historic high. But in the last few years, the news has become the most common thing an avid news reader has come across daily. Is it important for a common man or in simple terms, a citizen of the country to have a concern about this issue? The answer is definitely YES. It may be the simplest thing in words to see the numbers of inflation flying high, but nobody cares to understand that it in turn affects the common man by the increase in the prices of basic commodities like petrol, milk, vegetables, rice, etc. Over the years, this situation has touched a point of normalcy to an extent that hardly anyone cares about the burning issue. Not until July 2012 happened. Wondering what, the first three months of this financial year 2012-2013 has witnessed the heaviest decrease in the percentage of industrial production in more than 15 years. This decline in the manufacturing is mainly due to the sudden decrease in the production of small scale industries due to less or lack of small scale investments, capitalists and withdrawal of shareholders. Fitch Ratings an agency monitoring the world economy in independent terms has voiced its concern over India has said that there is a good chance for the country to downgrade the Sovereign Rating in the next 12 to 24 months. The enormity of the situation is well read by this report. Sovereign Rating is a stamp over economical authority based on which a country's stability over its own financial conditions is established. This agency has sent a serious note to the financial authorities of our country that over the next 2 years, India will witness a threat to its Sovereign Rating as the economic slump is growing a tad too fast. Irresistibly in the last quarter of 2011-12, our GDP growth rate touched a reasonable 5.3%. But after driven by a slump in manufacturing, the most recent data showed factory output declining sharply by 1.8% in June. Thus it is making the situation -probably for the financial establishments- out of control. Even in his Independence Day speech yesterday, Dr.Manmohan Singh highlighted the economic instability over national security issues. Such was the extent of this economic 'disaster' that the Prime Minister moved the key points on Assam domestic violence to the backstage. Every Indian's responsibility is to have confidence in the country and its establishments. If the small scale capitalists and shareholders fail to invest, the situation definitely is unimaginable. The national banks which have prime responsibility of regulating money and bringing out brave decision to outwit the 'black magic' surrounding our economy is the 'need of the hour'. Both the national security issues and the growing 'economic breakdown' are important to be tackled. An empire is built using hard rocks. Even the slightest of damage is a serious concern. But now even the biggest crack in the sidewalls seems to be common. Let the concern arise! Wish the empire lives! Believe the tradition upholds. Be sure, the legacy continues!