'Textbook case of crony capitalism' and potential threat to national security: Cong on Adani ports
New Delhi (PTI): The Congress on Saturday cited a media report on the Adani Group's growing share in port operations to allege that this is not only a "textbook case of crony capitalism" but a potential threat to national security.
Congress general secretary Jairam Ramesh said that in the party's "Hum Adani ke Hain Kaun" series of 100 questions, it had asked Prime Minister Narendra Modi three pointed questions on how Adani had become India's largest ports operator "without engaging in any competitive bidding and with the help of government raids on owners of private ports - who miraculously decided to sell their assets thereafter to Adani".
"An Indian Express report today highlights growing concerns at the highest level of government about the strategic implications of this Modi-made Monopoly (3M)," he said.
A senior shipping ministry official has said that high market concentration brings a real risk of abuse of this dominance, Ramesh pointed out, citing the report.
"A senior official from one of the economic ministries has expressed concerns that market concentration by a firm facing serious and credible allegations of accounting fraud and stock manipulation is an issue in a strategic sector like ports," he said.
The opposition party has been questioning the financial dealings of billionaire Gautam Adani's group after the US-based Hindenburg Research alleged "irregularities" and charged it with stock price manipulation.
The Adani Group has denied all the allegations made in the Hindenburg report and claimed there had been no wrongdoing on its part.
Ramesh also pointed out that a former Competition Commission of India chairperson has stated that the "creeping acquisition of capacity by one player while the others fall or languish" is a growing concern.
"Adani has gone from 10% to 24% of total ports traffic in the past decade, and today controls a huge 57% of cargo volumes outside of India's government-owned 'major ports'," the Congress leader said.
"By brazenly handing control of a critical strategic sector to his close friend - one who faces serious accusations of criminality - the PM has made himself and India a global laughing stock," he alleged.
"A friend who has shady connections with Chinese and Emirati individuals, who are not only involved in over-invoicing and stock manipulation but also have been given exclusive rights to build ports for Adani," he said.
Ramesh asserted that this is not only a "textbook case of crony capitalism" but a potential threat to national security.
"Since PM Modi and his pet agencies can't be expected to investigate this, we reiterate our call for a JPC to look into all aspects of the Adani MegaScam," he said.
According to the media report cited by Ramesh, from just one big port, Mundra, in 2001, the Adani Group today has grown to be the largest private operator with as many as 14 ports and terminals handling a quarter of all cargo passing through the country's ports.
In another post, Ramesh said the Union Coal Ministry insists domestic production and stocks of coal are adequate but the Union Power Ministry has directed utilities to import coal.
"The beneficiary is none other than the PM's most-favoured business group," he said in an apparent reference to the Adani Group.
He also tagged a media report which said India has asked utilities to import six per cent of their coal until March.
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What happens to terms Keralite, Keralan: Tharoor's witty take on Keralam replacing Kerala
New Delhi (PTI): Senior Congress leader Shashi Tharoor had a witty take on Kerala's name change on Tuesday, asking what happens now to the terms "Keralite" and "Keralan" for the "denizens" of the new "Keralam".
In a lighter vein, Tharoor said 'Keralamite' sounds like a microbe and 'Keralamian' like a rare earth mineral.
The Union Cabinet chaired by Prime Minister Narendra Modi on Tuesday approved the proposal for altering the name of Kerala to Keralam.
Ahead of the Cabinet decision announcement, Tharoor said, "All to the good, no doubt, but a small linguistic question for the Anglophones among us: what happens now to the terms 'Keralite' and 'Keralan' for the denizens of the new 'Keralam'?
"'Keralamite' sounds like a microbe and 'Keralamian' like a rare earth mineral ! @CMOKerala might want to launch a competition for new terms resulting from this electoral zeal," he said, sharing the media report on the name change.
The Legislative Assembly of Kerala passed a resolution on June 24, 2024 to alter the name of Kerala to Keralam'.
Thereafter, the government of Kerala requested the government of India to take necessary steps to amend the First Schedule to the Constitution by altering the name of Kerala to Keralam according to Article 3 of the Constitution.
The matter regarding the alteration of the name Kerala to Keralam was considered in the Ministry of Home Affairs, government of India and with the approval of Union Home Minister Amit Shah, the draft note for the Cabinet for changing Kerala to Keralam was circulated to the Department of Legal Affairs and Legislative Department, and the Ministry of Law and Justice for their comments.
The Department of Legal Affairs and Legislative Department, and the Ministry of Law and Justice have concurred with the proposal for the alteration of Kerala as Keralam.
After approval of the Union Cabinet, the president of India will refer a Bill, namely the Kerala (Alteration of Name) Bill, 2026 to the State Legislative Assembly of Kerala for expressing its views under the proviso to Article 3 of the Constitution of India.
After receipt of the views of the State Legislative Assembly of Kerala, the government of India will take further action and the recommendation of the president will be obtained for the introduction of the Kerala (Alteration of Name) Bill, 2026 for the alteration of Kerala as Keralam in Parliament.
Meanwhile, on Monday night, Tharoor said he was truly pleased to see C Rajagopalachari honoured by a statue at Rashtrapati Bhavan.
"He was its first Indian occupant as the only Indian Governor-General of India, before we became a Republic and he yielded his seat to the new President. I have long admired his convictions and was a strong supporter of his Swatantra Party in my student days," Tharoor said.
"His set of values and principles -- liberal economics and support for free enterprise, combined with social justice; strong anchoring in Indian civilization and religious faith but without a shred of communal bigotry; and a staunch faith in the rights & freedoms guaranteed by the Constitution, including keeping the government out of our kitchens, bedrooms and libraries -- remain mine to this day," the Congress MP said.
It is sad that there are so few left to follow him today, Tharoor added on X.
