Against the grain
It takes a babu with strong convictions, or considerable political ballast, to question a revered policy of the government. Kaushik Basu seems to possess both. Sources say that Mr Basu, the respected Harvard don brought in by Pranab Babu and Manmohan Singh last year as the chief economic adviser, has circulated a paper on food security within an interested circle, arguing that the public distribution system be rolled up.
Mr Basu’s suggestion seems to go against the proposal on enhanced food security made by the powerful national advisory council, which has Sonia Gandhi at the helm. In the council’s view, the government needs to increase reliance on the public distribution system. It is not known yet how Mr Basu’s views have reverberated with those who’ve been privy to the paper, but clearly he has given the government yet another opportunity to look at an old, creaking system which may have outlived its purpose. Delightful to have this rarity of a babu with ideas, insight and that missing ingredient of iconoclasm.
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No pussyfooting
The controversy over the appointment of chief vigilance commissioner P.J. Thomas seems to have got a second wind with the Supreme Court stepping in. The former telecom secretary was named CVC in September after Prime Minister Manmohan Singh and home minister P. Chidambaram overruled objections by Bharatiya Janata Party leader Sushma Swaraj, who was the third member of the selection panel. Though allegations were raised that Mr Thomas, a 1973 batch Indian Administrative Service officer of the Kerala cadre, had been chargesheeted in an oil import scam in Kerala, the government claimed that there was no case against the babu.
But now that the appointment is under the Supreme Court’s scanner, the government may also have to deal with queries on Mr Thomas’ role during the 2G scam, which is being probed by the CBI. Clearly, there is no pussyfooting around this one!
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Change at Sebi
The race to succeed Securities and Exchange Board of India (Sebi) chief Chandrasekhar Bhave is well underway. Sources say that a committee headed by Cabinet Secretary K.M. Chandrasekhar has shortlisted seven babus. Among the names being whispered are those of Reserve Bank of India deputy governor K.C. Chakrabarty, State Bank of India chairman O.P. Bhatt and corporate affairs secretary R. Bandyopadhyay.
According to sources, the selection panel which also includes finance secretary Ashok Chawla, financial services secretary R. Gopalan and personnel secretary Alka Sirohi, is now busy preparing the final list. There are some indications that Mr Bhave’s successor will be announced sooner than later, since the government, with an eye out for market sensitivities, is keen to ensure a smooth transition.
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