Saturday, May 26, 2007

PM Speaks


By Manuwant Choudhary

To all who saw India's Prime Minister Dr. Manmohan Singh as the great liberaliser his statement calling for India Inc. to cut salaries of its top CEOs has come as a shock.
Dr. Singh says paying such high salaries will increase the gap between the rich and poor and that there would be a backlash.
Haven't we heard similar statements issued by commies and Congressmen for the past 50 years until India went bankrupt!
Let us judge the Prime Minister on merit. The poor Indian does not even know what salaries CEOs get. So the question of a backlash against the rich CEO is farfetched. But yes instead of calling for a cut in salary the PM should have called for more growth, more jobs, more salaries which would mean less unemployment, less poverty and less dependence on social security.
Would Indian CEOs living abroad return to work in India with lower packages? If the best brains are not paid what they deserve (the market decides not the PM), then will the brain drain stop?
Mr. Sunil Mittal, newly elected president of CII, rightly opposes the PMs idea when he says that there are not enough trained CEOs at the top to take the jobs. Why? Because the Indian government has not just a ceiling on land but also on the number of IITs and IIMs in the country. Why can't we have 100 IIMs in the country instead of this stupid debate about which caste gets what seats.
The PM must come out with a white paper on how many students actually leave for foreign universities for their MBA. With just that money the 100 IIMs can be built. But this socialist government believes money spent abroad is alright, in India education must be free.
Just to remind all those who have hopes from this Congress government, the survival of this government depends on the CPI (M) and a lesser known story is that it is not the Congress Party but the Communist sardar Harkishen Singh Surjeet who asked Sonia Gandhi to make Manmohan PM.

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