Friday, January 28, 2011
The great Indian sage, Mr. Montek Singh Ahluwalia, Chairman of the Planning Commission has taken a delegation of 115 including 5 ministers to Davos, Switzerland to present " India Inclusive " at the World Economic Forum. An article in the New York Times outlined the costs of attending this conference. Attendance is by membership only at $ 137000 and everyone must have a ticket at $ 19000 plus tax. For 5 people membership costs $ 527000 plus tickets $ 95000 for a total of $ 622000. Add air fare, hotel stay, food and lots of drinks for parties, which the word " Inclusive " probably signifies, and we are talking a cool $ 1 million. For 115 people it is $ 23 million which is Rs 1.035 billion. So what does the Indian taxpayer get for such a colossal sum of money? Whoever went last year resulted in a drop of 32% in Foreign Direct Investment. Do they think foreigners are such mugs that they do not know about our broken roads, erratic electric supply, archaic labor laws, somnolent courts and, the most important of all, our criminal politicians and thieving civil servants with hands outstretched for bribes? In lists of countries most difficult for business India consistently figures near the top and the reasons given are corruption and inadequate infrastructure. However $ 23 million will buy one hell of a junket. On a tangential note 21 CBI officers have been awarded medals for " distinguished and meritorious " service on the occasion of the Republic Day. What is the point in medals which will not buy a kilo of onions at today's prices? What about another attempt at catching big Q? St. Kitts has been done so what about St. Tropez?
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