GAS WARS CRONY CAPITALISM AND THE AMBANIS eBook Paranjoy Guha Thakurta
Download As PDF : GAS WARS CRONY CAPITALISM AND THE AMBANIS eBook Paranjoy Guha Thakurta 
Prime minister of India Manmohan Singh has been accused of changing ministerial portfolios at the behest of the Reliance group. There have been claims that the group deliberately ‘squatted’ on reserves of natural gas and curtailed production in anticipation of higher prices that are administered by the government, to the detriment of the interests of the country’s people. Spokespersons of the group deny these allegations and contend that gas output from the Krishna-Godavari basin came down on account of unforeseen adverse geological surprises. Sections within the Indian government do not buy these arguments. The Comptroller and Auditor General of India has alleged, among other things, that the contract between the government and Reliance Industries Limited is deeply flawed, thereby encouraging excessive capital expenditure and lowering potential benefits to the exchequer.
With painstaking research, a meticulous perusal of press reports, as well as a few surprising exclusives, Gas Wars highlights cases of crony capitalism that allowed the Reliance group to blatantly exploit loopholes which were consciously retained in the system to benefit it. The book points out how, even when laws and policies appeared fair, rational, and reasonable, the way in which these rules and procedures were framed and implemented by bureaucrats acting at the behest of their political masters exposed the deep nexus between business and politics in India. Even as Gas Wars tells the story of how a corporate conglomerate, in this case the country’s largest, has benefited from the way government policies are structured, it lays bare the alarming facts of a natural disaster waiting to happen due to the ruthless exploitation of the country’s natural resources in order to swell the fortunes of a few. The book also highlights the examples of those within the government establishment who have refused to be intimidated by the rich and the powerful, and who have against all odds valiantly attempted to uphold the interests of the people of India.
GAS WARS CRONY CAPITALISM AND THE AMBANIS eBook Paranjoy Guha Thakurta
Reading the book, one takes heart from the many dedicated people, journalists, bureaucrats, technical experts, and, yes, politicians both in opposition as well as even within successive governments, who have opposed and continue to oppose what can only be described as a huge fraud on the Indian people to favour one business group.The book is not just a hatchet job. It reports fairly and accurately the complex arguments made both by proponents of the Rangarajan formula on gas pricing, as well its opponents (who do not speak in a single voice). It does bring out the (considerable) financial risks that are borne by the companies engaged in deep water oil and gas exploration. Yes, these companies do need to be rewarded for their courage.
What the book shows is that one business house has sought to mitigate its own business risks to such an extent, that the Indian public finally bears all risks in case of failure, while the company enjoys huge profits, unbelieveable profits, earning far higher margins than anywhere else, in case of success. And at the Indian public's cost.
Shame on the government and politicians who colluded in this fraud.
A final note : if the byzantine relationship between the two brothers doesn't interest you, then skip straight to Chapter-10 and read on. It's a slow trudge through reams of opinions, arguments, facts and figures. The book is dense with detail, be warned. But everyone interested in the pathology of the relationship between business and government in India : in particular one gigantic business house : must read this book.
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GAS WARS CRONY CAPITALISM AND THE AMBANIS eBook Paranjoy Guha Thakurta Reviews
The book is a fine compilation of press reports, testimonies and other sources that open your eyes to the murky going on's in the government during the times of dispute between Ambani brothers. It is shocking to realize how the mighty government is just a tool in the hands of these corporate honchos. I will highly recommend to those who are interested in the crony capitalism in India !!! well documented, researched work !!!
Lots of facts & comments from experts (not common among Indian authors). They have tried to explore all angles, including the story from Reliance side.
Little too long & repetitive, after 1st half I felt there's no new material but just prolonged. So many grammatical, spelling mistakes & repeated texts, editor of this book was asleep at the keyboard I think!
Still I would recommend as must read.
Polemic on the Indian Government's policy and the lobbying by the Ambanis. It is a personal view and not all will agree with the writer.
The authors have gone to great lengths on compiling events and documents and chronicled fairly well an eye opener for those who have not followed the events over the time worth a read
This is a fascinating book which for the very first time takes the reader into the complex world of gas pricing. Its really written like a documentary which allows one to introspect and come to one's conclusions as to whether a method or idea is correct, right or otherwise. Would strongly recommend this to all in the world of petroleum and also finance.
This is an outstanding book. It is well researched and insightful. Author demonstrates deep understanding of the topic of gas pricing and has brought forth a very balanced perspective on the very controversial topic. A must read!
Good book with excellent cross references. For sure there are too many repetitions of same/similar paragraphs throughout the book but it provides good info to the readers. Besides Gas dispute, it also have some content on other privatized gas/oil fields (during PV Narsimha Rao Govt from 1991-96) as well as some content on privatization of BALCO and IPCL taken during NDA government headed by Atal Bihari Vajpayee (1998-2004) that was great.
I hope Author comes out with other similarly researched other huge grey deals/scams e.g. coal gate, IGI Airport, iron ore scams in Goa, Bellary and other areas, Cairn/Vedanta oil field in Rajasthan, BALCO disinvestment in detail etc.
Reading the book, one takes heart from the many dedicated people, journalists, bureaucrats, technical experts, and, yes, politicians both in opposition as well as even within successive governments, who have opposed and continue to oppose what can only be described as a huge fraud on the Indian people to favour one business group.
The book is not just a hatchet job. It reports fairly and accurately the complex arguments made both by proponents of the Rangarajan formula on gas pricing, as well its opponents (who do not speak in a single voice). It does bring out the (considerable) financial risks that are borne by the companies engaged in deep water oil and gas exploration. Yes, these companies do need to be rewarded for their courage.
What the book shows is that one business house has sought to mitigate its own business risks to such an extent, that the Indian public finally bears all risks in case of failure, while the company enjoys huge profits, unbelieveable profits, earning far higher margins than anywhere else, in case of success. And at the Indian public's cost.
Shame on the government and politicians who colluded in this fraud.
A final note if the byzantine relationship between the two brothers doesn't interest you, then skip straight to Chapter-10 and read on. It's a slow trudge through reams of opinions, arguments, facts and figures. The book is dense with detail, be warned. But everyone interested in the pathology of the relationship between business and government in India in particular one gigantic business house must read this book.
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