Jay Panda Rhetoric in Columbia University: Far from Reality


The rhetoric of Indian Law maker Jay Panda in Columbia University is unique at the Indian Political context.It shows how the so called big universities of US are becoming grounds of glee.

“In Indian politics, I come from a non political family and even after 17 and a half years in Parliament – this is my fourth term, I see myself as an outsider. Most of my colleagues are status quoists. There are those that think outside the box but the vast majority have got to where they have got because of the system, not despite it. There are few accidents like me and I think it is a bounden duty for those of us who were unintended politicians to push the boundaries.”(Source First Post)

The mother of Jay Panda, late Ila Panda was a Rajya Sabha Member,after her,he becomes a Rajya Sabha Member twice,first at the age of 36,  then he came to Lok Sabha in 2009 and reelected in 2014.For the last 17 years he is in active politics.Still he claims,he is  from a non-political family after remain in politics for two generations.

Another opinion is regarding DE MO.The entire constituency of Kendrapada was happy with DE MO  and the examplenary outcome is, the land rate being slashed.

“The impact of the black economy affects people. I had a small shopkeeper tell me that for several years, he was trying to buy a small plot of land to keep as a wedding gift for his 5 year old daughter some 20 years later. And every year when he thought he had enough money, he was short by 20 or 30 per cent because the prices had gone up. He said it was because corrupt officials, politicians and contractors used to put all their money in gold and land and he simply could not compete with them. A month into demonetization, I asked him if it made a difference. He said of course yes. He used a phrase – the supply and demand of land has changed. Instead of me running after them, they are running after me. They are offering me last year’s prices and I’m insisting on the year before’s.”(Source First Post)

The country is not unanimous as to the outcome of DE MO.Jay Panda is a Member of Parliament representing BJD,which is currently in the opposition bench of Parliament. Economists say devaluation of wealth is a bad sign for economy.Jay Panda is happy with the distress sale of land and property through out the country.When lands were expected to be cheaper after DE MO,why BJP party hurriedly purchased lands through out the country in each district head quarters, just few days before DE MO is a million dollar question that Jay Panda need to answer.

Surely Jay Panda is not affected by DE MO.He is an industrialist and a rare example of crony capitalism,fortunately he is at the both side of the edge.As an industrialist he is the beneficiary of  valuable national resources like mines and minerals including the valuable ferrochrome mines.There are array of allegations against his industrial house of getting  big amount of loan waiver from different nationalized banks between 1998-2003.As per one PIL filed in Odisha High Court in 2007, a division bench of the High Court comprising Chief Justice A K Ganguly and Justice Indrajit Mohanty  had issued notices to the IMFA and to all the concerned banks including the Banking Secretary of the Union Government and to the RBI.

The petitioner had questioned as to how the Nationalized Banks and financial institutions have waived such a huge amount of loan of a company whose net worth (as per its own admission in March 2003) had been completely eroded and pegged at negative Rs 2712.12 crore.

“This is nothing but a broad daylight robbery of public money by the banks done at the behest of official power and political patronage”, the petition said alleging that several influential persons also benefited from this deal.

The petition had also questioned that why IMFA was not registered under the Board of Industrial and Financial Reconstructions (BIFR) under the provisions of Sick Industrial Companies (Special provision) Act when its entire net worth was eroded in 2003.

The petition further said that even as there was a One-Time Settlement (OTS) in favour of ICCL that merged with IMFA for an amount of Rs 638.84 crores, the said amount has not been paid yet. “The banks have allowed IMFA to pay the OTS amount over a period of 18 years while in all other cases the OTS amount is normally paid between one year and 18 months,” the petition alleged.

The banks that have waived loans running into Rs 2300 crores to IMFA are: 1.Industrial Development Bank of India waived Rs 1525.86 cr out of Rs 2002.55 cr 2.Industrial Finance Corporation of India waived Rs 138.59 cr out of Rs 188.36 cr 3.ICICI Bank limited has waived Rs 136.23 cr out of Rs 173.55 cr 4.Indian Overseas Bank has waived Rs 89.69 cr out of Rs 102.33 cr 5.Punjab National Bank has waived Rs 83.87 cr out of Rs 96.45 cr 6.Vijaya Bank has waived Rs 103.30 cr out of Rs 115.88 cr 7.Canara Bank has waived Rs 99.92 cr out of Rs 114.27 cr 8.Andhra bank has waived Rs 49.45 cr out of Rs 58.24 cr 9.Central Bank has waived Rs 59.11 cr out of Rs 67.59 cr 10.Union Bank has waived Rs 51.87 cr out of a loan of Rs 56.73 cr.

The latest position of the said PIL is not known to us.

In another allegation the former Chhatishgarh CM Ajit Jogi once stated in a press conference that the family run media house of Shri Panda  got approval of Foreign Investment Promotion Board with the favor of the then Finance Minister P.Chidambaram. The office of Mr.Jay Panda had denied these charges of Mr.Jogi as baseless and ridiculous at that time.

Looking at the propriety of democracy,Mr.Jay panda is a Member of BJD, which is not part of NDA. So naturally the role of BJD is suppose to work as an active opposition party.

The narratives of DE MO is not out and out jubilant.The debate is still on.Data and consequences are not indicating any good sign of rejoice.In the anniversary of DE MO,BJP Member of Parliament Satrughan Sinha said,had it been a success Story,people would have celebrated it spontaneously. Absolutely true,BCCI never invested money to celebrate India’s victory in cricket.In the anniversary of DE MO Government published full page color Advertisement in the front page of all leading news papers of India,still it was felt insufficient,so I &B Minister Smruti Irani published an editorial type article in all news papers of the country with translating it into local vernacular languages.Nevertheless  India is yet to see the good effect of DE MO but already had seen the bizarre of that horrible 90 days.Govt is there to justify its vision and success story, but the role of the opposition is to defend the interest of the people and to maintain the check and balance.

Is not it the responsibility of parliamentarians like Jay Panda to question BJP regarding the secret behind purchasing lands in all district head quarters of the country including the 30 districts of Odisha, just before few days of DE MO. and whether this deal was cashless transaction or cash transaction?

Whether the DE MO decision was all total confidential or partially confidential?

Who should question this,Jay Panda,a MP from the opposition group or Satrughan  Sinha a MP from the ruling Party ?

When Jaswant Sinha,inspite of being a BJP leader, criticizing DE MO,he is being narrated as an anti Modi.Now the tern is Jay Panda,he is praising high of DE MO,in spite of the fact that his party has a clear stand to maintain equal distance from BJP and Congress. Is it connected with something, called deal or Nexus ?



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