The entire world knows that Reliance power IPO was overpriced. Even the promoter admits that he made a mistake and that his folly caused the January 2008 stock market crash. He even tried to correct his folly by offering shares for free. Then why does our Finance ministry have to lie about it?
Today our junior finance minister Pawan Kumar Bansal lied openly in the parliament that Reliance power IPO was not oversubscribed.
A month ago his boss P Chidambram tried to fudge the data by not taking into account the Oil Subsidy and the Loan waiver into the fiscal deficit calculations. Do these people think that they are the only smart guys and rest of the world is stupid?
PS: Our Prime minister is perceived as a lap dog who knows when and how to wag his talk and as Ram pointed out, now even our President is not taken seriously.
And Prax forwarded a nice article detailing how the real fiscal deficit is 4 times what is being claimed by PC.
Ankur Aggarwal
sree
Sandip Chaudhuri
vbr
Skabeesh
Hi Ankur
plz read this
“Going by the level of oversubscription, it appears that the Reliance Power IPO was not overpriced, Bansal said today in a written reply to a question in the upper house of parliament in New Delhi.”
Bansal said “Reliance Power IPO was not overpriced” – Not “Reliance Power IPO was not oversubscribed”!
Comment by vivek k — April 16, 2008 @ 12:18 PM
thanks for pointing the typo
Comment by Ankur Aggarwal — April 16, 2008 @ 12:21 PM
u forgot about the fertiliser subsidy and the wage bill via pay commission
he had not accounted for those too
it is easier this way u see – when the opposition supports the govt (communists)
and the main opposition party is totally censured in parliament on many occasions – most of the time they dont have a clue on how to argue or do what they know best – boycott or make a halla
Comment by prax — April 16, 2008 @ 5:54 PM
ya i guess when opposition is filled with morons and the monkey trainer would take them for a ride
Comment by Ankur Aggarwal — April 16, 2008 @ 6:17 PM
To be fair to the bjp
the bunch in power r no better – infact many of them are worse
the pm is a joke the fms credibility dented
look at the likes of govinda and ms dutt from mumbai
the current speaker is a communist and not very unbiased like most governors
the current president – no wonder is not being taken seriously outside India
anyways she gets her free brazil vacation
http://www.ibnlive.com/news/patil-addresses-empty-chairs-in-brazils-senate/63424-2.html
Comment by ram — April 16, 2008 @ 7:26 PM
thanks Ram for the link. Updated the post with it
Comment by Ankur Aggarwal — April 16, 2008 @ 8:05 PM
[...] govt. bungalows and haver everything paid for by the taxpayer. Plus how can u trust them when the politicians openly make false claims without any remorse or [...]
Pingback by Politics and Prise rise « Tech and Trek — April 17, 2008 @ 4:01 PM
[...] Overall i see one more figurehead in this Govt loose credibility just like many of his peers as rightly pointed out by Ankur… [...]
Pingback by Mid Month Musings May 2008 …part 1. « Tech and Trek — May 20, 2008 @ 1:38 AM