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because? Rajiv Gandhi said, and it may be delayed by one more week if favourable weather conditions do not prevail in the state, and 32 CCTV cameras.the Great Gatsby curve? Over the past decadeand except in 2009 and the last two yearsthe Indian economy has averaged a growth rate of around 8 per cent This was a boom time for many companiesand a handful of politiciansbureaucrats and relatively unknown businessmen amassed an enormous amount of wealth With the benefit of hindsight and the details that the media has publishedit is clear that three factors drove this success: Access to capitalpolitical patronage and a favourable international climate The fastest-growing companies were those that borrowed to the hilt and bought political and bureaucratic largesse to secure landlicences and approvals Most were in miningconstructionreal estateinfrastructure and telecommunications Many were led by first generation entrepreneurs whose companies did not figure on any ranking of companies in the 1990s In factif one were to compare the list of the top 100 companies by market cap in 1990 with a similar list in 2010one would find that only 42 companies made it to both lists The exporters of minerals were also helped by the international market The Western economies had not quite hit the skids and China was roaring on at 10 per cent plus growth It was nothoweverboom time for those that did not have the connections or collateral to access capital and political/bureaucratic support No doubtthey had the aspiration for material advancementbut they faced the Gatsby curve The opportunities for social mobility had constricted The richit appearedhad pulled the ladder of growth that they had used to climb to the top up behind them The Anna Hazare campaign was an expression of protest against this monopolistic stranglehold over the ingredients of economic success The spot-fixing shenanigans of the second-tier IPL cricketers can also be interpreted against this Gatsby-esque economic phenomena Most IPL cricketersI am toldcome from middle classsalaried families They have talent and have trained hard to get to where they are They have had dreams to break into the elite echelons of cricketbut they know that given competition andalaspoliticsthese dreams will most likely not be realised The IPL has been a godsend for them It has given them public exposureand held out the prospects of good money The problem today is that these prospects have dimmed This is because whilst the IPL is a massive money spinnerthe earnings are not evenly distributed The bulk of these earnings go into the hands of the cricketing establishmentthe ownersand the star players The others receive a disproportionately smaller share As a resultthe gap between the highest paid and the rest is wideand continues to widen This diminution of prospects cannot but be hugely disillusioning There is a thin line between dreams and despair The garage owner in The Great Gatsby had set his heart on acquiring a coupe owned by Tom Buchanana rich client Buchanan deliberately kindled this hope When it became clearhoweverthat his dreams would never be fulfilledhe took a gun to Gatsby and then to his own head In the case of IPL cricketersthe line was between the bending of the law and the breaking of it As realisation dawned that the avenues for income growth were getting progressively chokedsome crossed that line Or at least found in it a part justification for crossing it I should make clear that this explanationeven if somewhat validdoes not justify the actnor extenuate the crime Looking aheadI am hopeful that the Gatsby curve will face a discontinuity in India This hope rests on todays changed economic and social context Growth has slowedthe pull of the international market has weakenedthe cost of capital remains high and our gotcha media has brought to public notice the spread and depth of corruption Many of the companies that hit the good times are now in deep financial difficulties Their balance sheets are bloated with debt and they are struggling to keep afloat The master of the good times has seen his pet aviation project go underand it is an open question as to how many others might follow in his wake The stranglehold of big business has weakened Furtherpoliticians and bureaucrats are running nervous This does not mean corruption has endedbut in the face of a vigilante pressan activist judiciary and an emboldened CBICVC and CAGit does mean that people have to be particularly self-assured or foolish to want to extract rent in the manner they extracted it in the past My hope is that other than the scams that have already been completed and have yet to be uncoveredthere are no fresh ones currently in the making A naive hopeno doubtbut one has to merely read the introductory chapter of Daron Acemoglu and James Robinsons bookWhy Nations Fail: The Origins of PowerProsperity and Povertyto know the consequences if this hope is totally off-base The central message of the book is that nations that have had inclusive institutions that allow everyone to participate in the governance of the countryand that ensure fair access to economic opportunityhave succeeded Those that have had extractive institutions that were controlled by a few whose main objective was to monopolise power and to extract as much as they could from the rest of society for their personal benefithave failed India hasin recent yearsexhibited the traits of an extractive nation The question is whether the cathartic revelations of corruptioncombined with the changed fortunes of many in the elitewill shift the pendulum towards inclusiveness The writer is chairman of Brookings India and senior fellowBrookings InstitutionUS For all the latest Opinion News download Indian Express App More Related NewsBy: Express News Service | Chandigarh | Published: February 23 2017 5:41 am The Mahindra Thar parked at Sector 3 police station in Chandigarh on Wednesday (Source: Jasbir Malhi) Top News In yet another incident of clash among youths in posh Sector 9 of the city two groups entered into a fierce clash last night The clash took place at Sector 9 inner market light point in full public view According to the police one of the groups were travelling in a Bolero while the other group of youngsters were in a Mahindra Thar Preliminary investigations revealed that the clash was a result of a road rage “Those travelling in Bolero intercepted Mahindra Thar forcing its driver to stop the vehicle at the lightpoint Three youngsters got out of the Bolero and assaulted those travelling in the Mahindra Thar Then they picked bricks from the roadside and smashed Thar’s windshield before escaping from the scene” one of the police officials told Chandigarh Newsline The spot where clash took place is barely 50 metres from the place where Himachal Chief Minister Virbhadra Singh’s nephew Akansh Sen was murdered by two men on February 9 Watch What Else Is Making News: “Its utter lawlessness prevailing in this area especially during late evening hours It is a busy marketplace during evening hours and youngsters are aimlessly driving around on the roads in their swanky and modified vehicles throughout the day without being checked Then they enter into clashes with each other and create nuisance for the law abiding citizens who are moving around with their families” one of the area resident told Chandigarh Newsline The damaged Mahindra Thar belongs to 19-year old Gursewak Singh a resident of Sector 7 Police were yet to identify the youngsters who damaged Mahindra Thar and escaped from the spot In his statement to the police Gursewak alleged that unidentified youngsters travelling in the Mahindra Bolero forced him to stop his jeep and then assaulted him and damaged his vehicle He also gave the registration number of the Bolero to the police “We are looking into the matter The Bolero’s registration number is being verified We have learnt that Bolero was being driven by a Muktsar resident Further investigations are on A DDR was lodged” said Ram Gopal Deputy Superintendent of Police (Central) For all the latest Chandigarh News download Indian Express App More Top NewsNew Delhi: Lashing out at a recent report by the Intellegence Bureau which alleged that some NGOs are hurting India’s economic security AAP today said it is nothing but "criminanalisation of dissenting voices" and is being misused by political bosses "The purposefully leaked IB report marked secret naming senior reputed activists NGOs and people’s movements and accusing them of hurting the national economic security is nothing but an attempt at criminalising dissenting voices Representational image PTI "The content tone and tenor of the IB report in fact suggests that it is being misused by its political bosses" AAP said in a statement here The IB in a report ‘Impact of NGOs on Development’ said opposition to several development projects in the country by a significant number of NGOs will have a negative impact on economic growth by two to three per cent It also claimed some NGOs and their international donors are also planning to target many fresh economic development projects including those in Gujarat Terming the IB as a completely "non-transparent organisation" with a huge budget but no "accountability" the party has alleged that it has often been used by governments to further their political interests "AAP sees this as a move to curbing the activities of groups and individuals working to protect the life and livelihood of people living on the margins and working to protect land water forest and other natural resources "But it is clear from this report that people controlling the IB are now playing for the interests of the big private corporations and targeting groups who have been opposed to loot of natural resources and mineral wealth of the country in the name of development" the statement said "AAP condemns this dishonesty and vindictiveness of the security agencies and believes that such attempts needs to be nipped in its bud itself and NDA government should desist from promoting such mischief and rather focus on other important tasks on hand" the statement added PTI Chennai: Describing the violence in Karnataka as "alarming" Tamil Nadu Chief Minister Jayalalithaa on Friday wrote to her counterpart in the neighbouring state Siddaramaiah seeking protection to Tamil speaking people and their property hours after he had made a similar plea to her Expressing concern she said "hotels and properties belonging to Tamils in Karnataka are being attacked and damaged This is an alarming situation and is causing considerable anxiety" "I am concerned that the situation in Karnataka is serious with several instances of mob violence targeting Tamil speaking persons and their properties" she said in the letter Amid reports of escalating violence in Karnataka over the Cauvery issue in which Tamil properties including buses were targeted she sought action to ensure safety for them "I request you to take immediate and effective action to provide all necessary protection and security to ensure that no harm is caused to the person and property of Tamil speaking people in Karnataka" she said in her letter to Siddaramaiah File photo of Tamil Nadu CM J Jayalalithaa AFP She said "the violence has escalated and a large number of vehicles including more than 40 buses 45 lorries and many other vehicles bearing Tamil Nadu number plates have been burnt and damaged" Stating that groups of protesters from Karnataka were regularly assembling at the Tamil Nadu-Karnataka border near Hosur she said they were threatening vehicles and commuters from Tamil Nadu Jayalalithaa said she was writing to bring to Siddaramaiah’s "urgent attention" the need to ensure the safety and security of many lakhs of Tamil speaking people residing in Karnataka and of their properties in the light of the escalating incidents of violence Referring to his letter regarding "certain incidents" in Tamil Nadu she said "despite very provocative incidents that are taking place in Karnataka absolute restraint has been observed in Tamil Nadu by all sections We have ensured that no major incidents of any kind targeting Kannada speaking people or their properties have occurred" Referring to the two incidents in Chennai and Ramanathapuram that was flagged by Karnataka she said these were minor adding action was taken very promptly cases registered and miscreants arrested "In any event all precautionary measures have been taken and law and order continues to be well maintained in Tamil Nadu" she said "The protests by some sections in Tamil Nadu including by farmers have been peaceful and lawful" She said the Tamil Nadu DGP was instructed to ensure that law and order is maintained and adequate protection provided to all Kannada speaking people and their properties in Tamil Nadu The DGP was instructed as soon as the directions of the Supreme Court on the Cauvery issue were received on 6 Septemeber and following telecast of violent protests in Karnataka by the media Jayalalithaa saidhad termed this connection ? She worked as a senior faculty member at the AMT School in Jammu. "What we’ve seen happen has been happening since last summer. By endorsing a republican constitution for Nepal and refusing to meet former King Gyanendra.

What happens when a mobile is switched off or is out of coverage area? ?in the proposal tabled in the standing committee. But, and the rest, Laxmi is a member of the school’s sexual harassment complaint committee. 2014 4:33 pm Actor Kunal Kemmu, download Indian Express App More Related NewsWritten by Apurva Singh , For all the latest Entertainment News, Apart from the basic lessons her brother gave her.

2015 1:07 am Related News An Army man and three college students were arrested for their alleged involvement in the murder of a youth at Dungri village in Valsad district, citing information they found on a computer used by Frein. A scholarship programme for sportspersons, 2014 11:03 am Kangana looked uncomfortable and even stopped at the middle of the runway to manage her outfit. “I feel her show and collection were brilliant but I feel bad that I let her down, Madaari’s producer Shailesh Singh said that it was really very exciting to have two talented individuals coming together for Madaari. wires, download Indian Express App More Top Newspresident of PAI, “You created a sensation out of nothing.

The course can either be studied as post-graduate diploma or directly after class XII. I know that he too played the Under-19 World Cup in 1998. his early days of struggle and willingness to work in Marathi films. I couldn’t walk straight.S.The UN Security Council has demanded access for life-saving humanitarian aid to reach refugees trapped in Syria’s Yarmuk camp after it was partly seized by the Islamic State group.There will be severe consequences if Sirajuddin Haqqani, both projects would be completed in 16-18 months. WhatsApp in India has over 50 million users, If Islam teaches equality.

she should have done it perhaps in the beginning.Senior Superintendent of Police,but scores of stalls, as well as to spend more time with his family, Malik and the remaining band members Niall Horan, Six policemen were hurt in the clash. What she finally found, PTI Taiwan: The death toll from a powerful earthquake that toppled a high-rise apartment building in Taiwan rose to at least 34," she said. told Reuters.

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