Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : India Coffee House -- Ignore unavailable to you. Want to Upgrade?

To: Mohan Marette who wrote (7864)	10/7/1999 8:44:00 AM
From: Cynic 2005	Read Replies (3) \| Respond to of 12475

Mohan, Chandrababu Naidu may have proven himself to be a visionary - somewhat justifiably. But, he has taken the AP on the road to prosperity via short-cuts! Excessive debt. Just three short years ago the state exchequer was almost bankrupt. They didn't have enough money to pay the salaries of employees. He was cornered so much so that he had to retreat on TDP's commitment on prohibition. But he did renege with a very well calculated strategy and the help of Eenadu, which created the backdrop for his back-tracking. It was a smart move on his part. Given the precarious state of state finances, it was a dumb move to instate prohibition in the first place (well NTR is known for make more than one such moves! -g-) By late 97 and early 98 State finances improved - thanks to BJP Govt at the center, the increased revenue from liquor taxes and last but not the least, foreign aid to many public and private projects in the State. Having said all these, I think he set AP up for a major debacle down the road. Mainly due to the debt load the state has taken. In good ole days of Congress, the debt was assumed and no improvement was seen in public lives. Not so in his regime. Though I am critical of his policies, I consider him a lesser evil. If I were in AP on the day of election I would have voted for him. However, Naidu is one of the most cunning politicians to come from Andhra. Vajpayee has to watch his butt. I would not be surprised if Naidu pulls a Mrs. Fat Ma on BJP led coalition Govt. After all, as a politician he spent his early days in Amma Congress! The following article has full merit! [BTW, I don't consider the foreign debt to be a big deal - if they can't pay back, there is always the 'bird'. Some of these banks deserve it anyway. But, my only concern is that the infrastructure projects undertaken with that debt may not be well maintained there by making all that investment a complete waste!] ---- hinduonline.com BJP to keep watch on TDP attitude By Our Special Correspondent NEW DELHI, OCT. 6. The outcome of the elections to the three Assemblies - Andhra Pradesh, Karnataka and Maharashtra - will have their own repercussions national level on the National Democratic Alliance (NDA) which appears to be heading for the required majority in the new Lok Sabha. While the picture in Andhra Pradesh and Karnataka is more or less clear with the former going the Telugu Desam way and the later the Congress(I) way, early trends from Maharashtra are not sufficient to come to a conclusion that the Shiv Sena-BJP combine would return to power. The likely return of Mr. N. Chandrababu Naidu to the coveted job of Chief Ministership and possible much higher tally of the Telugu Desam in the Lok Sabha could actually be a cause for concern to the BJP. With a strength of 12 MPs the Telugu Desam supremo extracted maximum mileage from the BJP. Despite the publicly stated stand of neutrality, Mr. Naidu managed to bag the post of Lok Sabha Speaker for his party. The bargaining strength of the Telugu Desam in the new Lok Sabha is bound to be much higher. Though Mr. Naidu has stated that his party is not part of the NDA and has only entered into seat adjustments with the BJP, there are no clear indications from the TDP leadership if it would be part of the government at the centre particularly given its impressive performance. The BJP would keenly watch the attitude of the TDP leadership in the next few days particularly in the run-up to the formation of the government. There is every possibility of the Telugu Desam insisting on continuation of its nominee, Mr. G. M. C. Balayogi, as the Speaker in the 13th Lok Sabha. The outcome in Karnataka Lok Sabha and Assembly should be a matter of concern for the BJP leadership. The central leadership which forced a reluctant State unit to have a tie-up with the Janata Dal(U) led by the Chief Minister, Mr. J. H. Patel, is bound to come under pressure on the question. However, from another point of view the BJP could heave a sigh of relief as it would have faced a great dilemma in dealing with the JD(U) had the combined put up a good show at the hustlings. The BJP leadership may not have to deal with contentious issues such as who should be the Chief Ministerial candidate of the combine. As for Maharashtra it appears the BJP will have to grapple with sensitive issues such as whether or not they should continue with the previous arrangement of allowing the Shiv Sena to have an upper hand in running the affairs of the government. The State leaders of the BJP were openly talking about staking claim for the chair of Chief Minister if the combine manages to cross the half-way mark for a simple majority.