India Insight

(Any opinions expressed here are those of the author and not necessarily of Reuters)

Much of it a relic from before the 1991 economic reforms that kick-started the India growth story, the country’s infrastructure is screaming out for more investment to fix pot-holed roads, modernise the railway network and build more power plants. But unable to match the spending power that the likes of China have, the Indian government has turned to the private sector to fund much of the new infrastructure it needs. Indian politicians must therefore strike a balance between allowing the private sector to make money, while at the same time protecting the interests of customers (and voters) in a country where hundreds of millions live below the poverty line.

Is it better to have state-run, pot-holed roads, or have swish six-line highways that charge a toll that becomes unaffordable to some? What’s more, to what extent should the government go to protect infrastructure firms – vying with one another for project bids – when such projects run into trouble?

At the start of April, Adani was granted permission by the federal power regulator to allow it to charge “compensatory” tariffs to existing customers in Gujarat and Haryana, after a spike in the price of Indonesian coal caused it to incur heavy losses. Tata Power won a similar ruling two weeks later. Adani has already seen the ruling challenged by the Haryana state, which argues that Adani should stick to its original agreement. That has sparked fears that the ruling – a potential game-changer for the sector that has been battered by fuel shortages and distribution losses – could get bogged down in legal battles.

When India’s top court berated the government this month for interfering in a Central Bureau of Investigation (CBI) report, it put the spotlight on a long-standing opposition gripe that the federal law enforcement agency was being politically influenced.

“The CBI has become the state’s parrot. Only screaming, repeating the master’s voice,” Justice R.M. Lodha said on May 8, urging the government to strengthen the agency’s independence.

The CBI denied the accusations and emphasized its impartiality.

Reuters India Online spoke to various experts for their views on whether the CBI was indeed a “caged parrot” and if yes, how best to ensure it could withstand political pressure. Excerpts:

The BSE Sensex ended above the 20,000 mark on Friday after gaining 2.6 percent in the last five trading sessions. The index has now risen for four straight weeks. Here are the top five Sensex gainers and losers of the week:

GAINERS

Tata Motors: The automaker’s stock surged 8.15 percent in the week ending May 10, making it the best Sensex performer. Though the stock is still flat in 2013, it has gained nearly 15 percent since April. However, Ambareesh Baliga of Edelweiss Financial Services advises caution: “Tata Motors’ overdependence on Jaguar Land Rover (JLR) to negate the Indian underperformance makes it a risky investment at this juncture especially in view of lower margins at JLR”

Hindalco: Shares of India’s largest aluminium producer surged 8 percent this week. The stock extended gains throughout the week after rising 3.5 percent on Monday, on expectations of better realizations after copper prices rose more than 6 percent last Friday.

(Any opinions expressed here are those of the author and not necessarily of Reuters)

For more than 30 years, Mike Pandey has been a man with a mission. In its special issue on Heroes of the Environment in 2009, Time magazine credited the maker of wildlife documentaries with efforts to protect “everything from whale sharks to elephants, vultures to medicinal plants.”

In 1994, Pandey became the first Asian film-maker to win the Wildscreen Panda Award, better known as the Green Oscar, for his film on the capture of wild elephants. He also won the award twice in the next decade.

New Delhi, India

By Mansi Thapliyal

Atika, 10, woke up early one morning in August 2008 and was sent by her mother to buy a few items from a nearby shop. She returned and told her mother she would prepare tea for her father before quickly going to use a communal toilet close to her house. She never returned.

Ambika was a feisty 15-year-old high school student who took wrestling classes. Her mother returned home from work late in the night on October 10, 2010. She woke up the next morning and found her daughter missing.

Atika and Ambika are among the thousands of children who go missing from India's streets, schools and homes every year.

(Any opinions expressed here are those of the author, and not necessarily those of Thomson Reuters Corp)

Are they parliamentarians, or do they just play ones on TV? After pushing through proposals on foreign investment in the retail and the aviation sector late last year, India’s elected representatives apparently have decided to get as little done as possible during the current session.

On television, it’s another matter. Newsroom studios appear to be the preferred forum for debating problems and legislation that normally would be the province of parliament. Those include recent demands by the coalition government’s prime opponent, the Bharatiya Janata Party, for the resignations of the prime minister, law minister and the railway minister over accusations that the government interfered with an investigation of improper allocation of coal mine licenses and certain other bribery allegations.

As India celebrates 100 years of cinema, we asked celebrities to name their favourite Indian film. It was a tough choice. After all, there are tens of thousands of films to choose from. How could they select only one? In the end, all our respondents sent in several choices, unable to pinpoint the one Indian film they thought was the best.

Fashion designer Ritu Kumar was closest to the brief, naming just two personal favourites. Her choices: “Umrao Jaan” and “Mughal-E-Azam“. Both films were in her words “classical for music, costumes and ethos.”

For writer Amish Tripathi, “Mughal-E-Azam“, “Guide” and “Sholay” reigned supreme in Bollywood. Pressed to reveal his all-time favourite, the author of the Shiva trilogy reluctantly chose the Dev Anand film based on R.K. Narayan’s novel.

Mumbai, India

By Danish Siddiqui

The Hindi film industry or Bollywood can make a star, a household name out of anyone overnight. It can bring instant money, fame and the fan-following of millions from across continents.

Bollywood is an addiction for many that attracts thousands of aspirants to the breeding grounds, the city of Mumbai, everyday. I was keen to look at this other side of the glamour world. The side that entails the struggle to enter the world of aspiring dreamers and their struggles to become a star.

There is no time limit to becoming a nationwide sensation, a star in Bollywood. As one of the aspirants told me it's a gamble you take, forgetting all your worries about the results.

(Any opinions expressed here are those of the author, and not necessarily those of Thomson Reuters Corp.)

Citizens First: those are the two words at the top of the Delhi Police department’s website. An alternative could be: “first come, first served.”

I called the stalker line after receiving some text messages and telephone calls that made me feel unsafe. The upshot: a dispatcher routed my call to three police stations, none of which have a record of the complaint. Furthermore, it will take several days to get back to me with the results of any investigation. This is happening when the police are under intense criticism for not doing enough to prevent rape, harassment and assault, not to mention reports of their views on women. This latest incident was not an inspiring episode.