HW News Editorial with Sujit Nair

In a recent episode of 'Editorial', Mr. Sujit Nair delved into the topic of taxing inherited wealth, prompted by a statement from Sam Pitroda, Chairman of Indian Overseas Congress. Pitroda, in an interview, discussed the rationale behind wealth redistribution, citing the example of inheritance tax in the United States. He characterized it as an intriguing policy that prioritizes the public interest over the super-rich. Pitroda explained that under this law, if someone possesses $100 million in wealth and passes away, only 45% of it can be transferred to their children, with the remaining 55% claimed by the government. He viewed this as a fair measure, emphasizing the notion that individuals who accumulate wealth during their lifetime should contribute a portion of it back to society upon their passing. 

In this episode of 'Editorial,' Mr. Sujit Nair discusses the remarks made by the Prime Minister of India, Narendra Modi, regarding Muslims, as well as his assertions concerning the Congress' manifesto. Additionally, the episode provides a brief explanation of what former Prime Minister Dr. Manmohan Singh said in his 2006 speech. 

In this episode of ‘Editorial’ Mr. Sujit Nair discusses about the statement made by the Finance Minister Of India Nirmala Sitharaman about bringing back the Electoral Bonds Scheme after wider consultations. Finance Minister Nirmala Sitharaman announced that the BJP plans to reintroduce electoral bonds, in some other form, after wider consultation, if they secure victory in the Lok Sabha elections. The Supreme Court had previously deemed the scheme unconstitutional, citing concerns over transparency and the potential for quid pro quo transactions. Sitharaman noted that the government has yet to decide on pursuing a review petition against the court's decision. She emphasized the need for extensive consultations with various stakeholders to develop a framework that ensures transparency and prevents the infiltration of illicit funds.

In this episode of ‘Editorial,’ Mr. Sujit Nair discusses the recent remarks made by the Supreme Court of India during the hearing of petitions seeking for 100% verification of Voter Verifiable Paper Audit Trail slips (VVPATs). During the hearing, the Supreme Court directed the Election Commission of India to investigate allegations that extra votes were recorded in favor of the BJP during a mock poll in Kerala. This direction came after Advocate Prashant Bhushan, representing the Association for Democratic Reforms, referred to a report by Manorama Online regarding complaints about EVMs registering additional votes for the BJP in the Kasargod constituency. The bench, led by Justices Sanjiv Khanna and Dipankar Datta, instructed Maninder Singh to look into the matter. The Supreme Court is currently hearing the EVM-VVPAT case, with today being the second day of proceedings. The Election Commission assured the court that the cited news report was inaccurate and committed to submitting a detailed report. 

In this episode of ‘Editorial’, Mr. Sujit Nair discusses about the upcoming Lok Sabha Elections and compares the opinion polls and surveys of the earlier Lok Sabha elections of 2004, 2014 and 2019. Mr. Nair derives certain conclusions after discussing elections of the past and discusses about whether the opposition INDIA Alliance. India is preparing for the commencement of the Lok Sabha elections, which will be conducted in seven phases starting from April 19. The first phase of voting will take place on April 19, while the final phase is scheduled for June 1. Notable states participating in the first phase include Assam, Bihar, Madhya Pradesh, Maharashtra, Rajasthan, Tamil Nadu, and Uttarakhand.

In this episode of ‘Editorial’, Mr. Sujit Nair expresses his opinion on the recently released manifesto of the Bhartiya Janata Party. With the seven-phased Lok Sabha polls set to commence on April 19, the BJP unveiled its much-anticipated manifesto titled 'Modi ki guarantee' Sankalp Patra. PM Modi emphasized that the party's foremost focus would be on bolstering the nation's social, physical, and digital infrastructure. While unveiling the party’s manifesto, PM Modi remarked, ""The entire nation eagerly awaits the BJP’s ‘Sankalp Patra’. There's a significant rationale behind it, as over the past decade, the BJP has translated every aspect of its manifesto into concrete actions on the ground. This ‘Sankalp Patra’ strengthens all four fundamental pillars of a prosperous India: the youth, women, the underprivileged, and farmers.""

In this episode of ‘Editorial’, HW News’ Managing Editor Mr. Sujit Nair discusses about the recently released CSDS-Lokniti survey. On June 4, 2024, during the vote counting for the Lok Sabha elections, will India observe a sentiment of anti-incumbency? Or will the Bharatiya Janata Party (BJP), aiming for a third consecutive term under the same leadership, encounter a significant turning point? Mr. Sujit Nair examines and interprets the findings of the CSDS-Lokniti survey data, shedding light on the direction that the research indicates for the Lok Sabha Polls.

In a recent segment of ""Editorial,"" Mr. Sujit Nair discusses the Supreme Court of India's recent comments regarding Patanjali Ayurved. The Court criticized Patanjali for its lackadaisical apology affidavit submitted in response to its misleading advertisements promoting ayurvedic products while disparaging modern medicine. Justices Hima Kohli and Ahsanuddin Amanullah expressed displeasure over Patanjali's claim that its media wing was unaware of the Court's order to cease airing such advertisements. This assertion was made in an apology affidavit by Patanjali's Managing Director, Acharya Balkrishna. "If this is indefensible, then your apology will not work. This is a gross violation of the undertaking given to the top court. You have to ensure that your undertaking which is solemn should have been adhered to. We can say that we do not wish to accept that the media department does not know about what is happening in this court and it is an island. This is more of a lip service! ... You violated the solemn undertaking with impunity. We are not willing to accept this and this is perfunctory! What is the reason to accept your apology?"" Justice Kohli remarked.

In a recent episode of 'Editorial', Mr. Sujit Nair delves into PM Modi's response to the recent Supreme Court verdict regarding the Electoral Bonds Scheme. Modi strongly dismissed any notion that the verdict posed a setback to his administration. ""Tell me what have we have done that I should see it as a setback? I firmly believe that those dancing over it (bond details) and taking pride in it are going to repent,"" the Prime Minister asserted in an interview with Thanthi TV. He emphasized that the Electoral Bond system has enabled the identification of sources and beneficiaries of political funding. According to Modi, the presence of electoral bonds has facilitated the establishment of a traceable trail in political funding. In the interview, Modi questioned whether anyone could specify the amount corporations contributed to political parties before the NDA government assumed power in 2014. ""Can someone tell me how much these companies paid to political parties before 2014? Nothing is perfect, imperfections can be addressed,"" the Prime Minister remarked. "

In this edition of "Editorial," Mr. Sujit Nair discusses the ongoing trend of leaders from opposition parties being summoned and investigated by enforcement agencies. He points out instances in states governed by opposition parties like Tamil Nadu, Jharkhand, Delhi, West Bengal, and Kerala. Mr. Nair specifically highlights the recent arrest of Delhi CM Arvind Kejriwal and expresses concerns about the state of Indian democracy. Kejriwal was arrested by the Enforcement Directorate in connection with a money laundering probe related to alleged corruption in the development and implementation of Delhi government's excise policy for the fiscal year 2021-22, which was later revoked.

In this editorial segment, Mr. Sujit Nair discusses a pressing issue facing India: unemployment, along with a statement made by the Chief Economic Advisor. On March 27, Chief Economic Advisor V. Anantha Nageswaran emphasized that government intervention couldn't solve all social and economic challenges, stating that diagnosing problems like unemployment is easier than finding solutions. At the unveiling of the "India Employment Report 2024: Youth Employment, Education and Skills," co-authored by the International Labour Organisation and The Institute for Human Development (IHD), Nageswaran questioned the government's role in tackling unemployment beyond increasing its own workforce. He highlighted the importance of the private sector in job creation and outlined government initiatives like skill development and the National Education Policy of 2020, emphasizing the need to shield them from political influence. Nageswaran also mentioned corporate tax breaks and subsidies aimed at promoting employment over capital accumulation. Drawing parallels with a satirical film from the 1970s, he questioned whether governments globally were inadvertently discouraging work through welfare policies meant to alleviate the consequences of unemployment, potentially disrupting the labor market. He highlighted the unintended consequences of public policy interventions and questioned whether individuals, particularly the youth, were sufficiently motivated to work and equip themselves with the necessary skills.

In this episode of 'Editorial', Mr. Sujit Nair discusses Rekha Patra, who was hailed as "Shakti Swaroopa" by Prime Minister Narendra Modi. Mr. Nair highlights the disparity in treatment between the victims of the Sandeshkhali incident, where women were reportedly sexually harassed by TMC workers, and the women who suffered similar atrocities in Manipur. He points out the political hypocrisy, noting that politicians tend to remain silent when crimes occur in their home state but shift focus to incidents in states governed by opposition parties.

In this episode of 'Editorial,' Mr. Sujit Nair delves into the topic of companies purchasing electoral bonds after the scrutiny from enforcement agencies. Out of the 26 companies under investigation, 16 made political donations through bonds only after being targeted by these agencies, while another six increased their donations following agency crackdowns. A review by The Indian Express uncovered that the BJP received 37.34% of the bonds purchased by these companies, followed by other ruling parties like TMC (18.29%), DMK (11.35%), BJD (4.48%), and BRS (8.59%). The Congress, governing in three states, received 11.97%. Between April 2019 and February 2024, these companies bought Rs 700.65 crore in bonds before facing agency actions and Rs 4,479.6 crore after. Ten companies donated over Rs 100 crore each. For instance, Future Gaming, headed by ""lottery king"" Santiago Martin, abstained from purchasing electoral bonds until a year after facing an ED probe on alleged money laundering charges. Subsequently, the Coimbatore-based company donated bonds worth Rs 503 crore to the DMK and Rs 542 crore to the ruling TMC in West Bengal, while allocating Rs 100 crore to the BJP.

In an episode of "Editorial," Mr. Sujit Nair discusses the alarming state of Indian politics, where dissenting voices are being silenced through imprisonment. Mr. Nair cites examples such as the arrest of Delhi CM Arvind Kejriwal just before the Lok Sabha elections and the arrest of K. Kavitha, daughter of former Telangana CM K. Chandrashekhar Rao. He also mentions the recent raid by the CBI on the residence of outspoken former Lok Sabha MP from West Bengal, Mahua Moitra. Mr. Nair concludes by posing the question: Have we lost our India? 

In this edition of "Editorial," Mr. Sujit Nair examines how the BJP has emerged as the primary beneficiary of political funding, including electoral bonds & electoral trusts. Out of the total of Rs 16,492 crore obtained through bonds, the BJP received Rs 8,252 crore, surpassing the funding received by over 20 other parties combined. Additionally, parties have garnered funds from electoral trusts, which have significant corporate donors. Combining funds from electoral bonds, trusts, and other donations declared in audit reports over a six-year period from 2018 to 2023, the BJP's total funding reached Rs 12,930 crore, solidifying its lead over other political parties. 

In this episode of 'Editorial', Mr. Sujit Nair discusses Chief Justice of India DY Chandrachud's comments regarding Tamil Nadu Governor RN Ravi's actions. The Supreme Court expressed dissatisfaction with Governor Ravi for refusing to reinstate MLA K Ponmudi as a Minister despite his conviction being suspended by the Supreme Court. CJI Chandrachud said, “""Mr Attorney General, what is your Governor doing? The conviction has been stayed by the Supreme Court and the Governor says he won't swear him in! We will have to make some serious observations. Please tell your governor, we are going to take a serious view of it. How can the Governor say that, after the Supreme Court stayed his conviction, his reinduction as a Minister will be against Constitutional Morality?, The bench comprising CJI DY Chandrachud, Justice JB Pardiwala and Manoj Misra was hearing an application filed by the Tamil Nadu Government seeking a direction to the Governor to accept the recommendation made by the Chief Minister to reappoint Ponmudi as Minister. 

In this episode of 'Editorial,' Mr. Sujit Nair delves into the recent disclosures made by the Election Commission of India regarding Electoral Bonds. According to a report from The Hindu, a significant number of newly established companies, specifically 43 firms incorporated in 2018 or later, have acquired electoral bonds totaling over Rs 384.5 crore. Among these, four companies established in Hyderabad in 2023 purchased bonds worth substantial amounts shortly after their inception. Additionally, nine companies formed in 2020 and eleven in 2021, amid the pandemic, collectively purchased bonds worth nearly Rs 100 crore within one or two years of their establishment. The company details and incorporation dates are sourced from the Ministry of Corporate Affairs' database, where the names of bond-purchasing firms were cross-referenced to identify newly established entities. 

In a recent episode of 'Editorial', Mr. Sujit Nair raised concerns regarding the transparency of data related to Electoral Bonds sold by the State Bank of India (SBI). Following a Supreme Court ruling on February 15, which deemed the electoral bond scheme unconstitutional, the SBI was instructed to provide detailed information on the bonds to the Election Commission by March 6. The SBI had been selling these bonds in 30 phases since March 1, 2018. However, in a plea submitted to the court on March 4 seeking an extension, they only accounted for bonds sold in 22 phases from April 2019 onwards. Initially, they stated that 22,217 electoral bonds were used for political donations between April 12, 2019, and February 15, 2024. Later, they admitted to an error, clarifying that only 18,871 bonds were sold during that period. An additional 3,346 bonds were sold between April 1 and April 11, 2019, as indicated in a table within the compliance affidavit submitted on March 12. The SBI referenced the Supreme Court's February 2024 judgement, which instructed them to disclose details of electoral bonds purchased since April 12, 2019. However, it seems there was a misunderstanding, as the court likely intended to request data beyond what had already been submitted in a sealed cover. This confusion resulted in a gap in the data, with some information disclosed but other parts remaining undisclosed. The sealed cover data includes information on bonds issued in ten phases between March 1, 2018, and May 15, 2019, totaling 11,681 bonds. Of these, data for 2,522 bonds issued between April 12 and May 15, 2019, has been revealed. However, information for the remaining 9,159 bonds issued between March 1, 2018, and April 12, 2019, totaling Rs 4,002 crore, is still missing. Despite a Supreme Court order on March 11 instructing the Election Commission to publish the details of the information supplied to the court, including the sealed cover data, on its official website, this information has yet to be released. 

In this episode of 'Editorial', Mr. Sujit Nair discusses the Supreme Court's recent action towards the State Bank of India (SBI) regarding the disclosure of Unique Serial Numbers on electoral bonds. The Supreme Court of India has reprimanded the SBI for failing to share the unique serial numbers assigned to electoral bonds, the data of which was recently made public. A five-judge Constitution bench comprising Chief Justice of India DY Chandrachud and Justices Sanjiv Khanna, BR Gavai, JB Pardiwala, and Manoj Misra expressed dissatisfaction with the SBI's compliance with its previous order issued on March 11, directing the bank to disclose all information related to Electoral Bonds. The apex court observed that the SBI did not reveal the distinctive alphanumeric numbers associated with each electoral bond. Consequently, it issued a notice to the SBI, demanding a response by March 18. The Supreme Court reiterated that its earlier judgment by a five-judge Constitution bench mandated the disclosure of all electoral bond details, including the purchase date, purchaser's name, and the bond denomination. 

In this episode of ""Editorial,"" Mr. Sujit Nair discusses the Maharashtra State Bank Employees Federation's call for the resignation of SBI Chairman Dinesh Khera. The federation is demanding Khera's resignation due to his submission to the Supreme Court requesting an extension until June 2024 to provide information on electoral bonds, citing the time-consuming nature of the process. According to the federation, Khera's actions have tarnished the reputation of the bank, especially in light of the Supreme Court's remarks on the matter, despite Khera receiving an extension just before his retirement. “This has resulted in damage to the image of the bank and has shaken the credibility of the bank on transparency and corporate governance and thus SBI Chairman should step down,” said Devidas Tuljapurkar, General Secretary, Maharashtra State Bank Employees Federation. “It is not known as to whether he has taken this position at his own or has taken the board of Directors into confidence wherein government & RBI nominee also should clarify their position on record,” he said.