Hyderabad: Referring to two big politicians from South, Mr Thakurta said that due to Y.S. Jagan Mohan Reddy in Andhra Pradesh and Gali Janardhan Reddy in Karnataka, their respective political parties benefitted. “What we have today is not even genuine capitalism. It is crony capitalism. We are obsessed with economic growth without thinking about who is benefiting from it. Whether jobs are being created or not. The recent Panama Papers have proved that we first allow a system to general huge amount of money, then let it be laundered. The Papers proved that whatever mo-ney went out of the country eventually came back. Only its colour was changed.”
Tracing the genesis of crony capitalism, Mr Thakurta said the problem has a lot do with election funding. “And that is why all political parties have so vehemently opposed the changes suggested by the Election Commission.” Offering a solution, Thakurta said the civil society has to mount pressure on the government.
