THE HINDU BUSINESS LINE
Financial Daily
from THE HINDU group of publications

Friday, August 10, 2001

• AGRI-BUSINESS
• CORPORATE
• FEATURES
• INDUSTRY
• LETTERS
• MACRO ECONOMY
• MARKETS
• NEWS
• OPINION
• VARIETY
• INFO-TECH
• CATALYST
• INVESTMENT WORLD
• MONEY & BANKING
• LOGISTICS

• PAGE ONE
• INDEX
• HOME

News | Next | Prev


Frequent flying babus to become extinct

Shaji Vikraman

NEW DELHI, Aug. 9

THE frequent flying plans of many a babu in Raisina Hill have been grounded with the Government deciding to dispense with the practice of holding negotiations pertaining to World Bank-funded projects in Washington.

Instead, such parleys will henceforth be held within the country, except for the odd project or two, senior Government officials confirmed today.

The decision, to be implemented shortly, will mark an end to the numerous trips undertaken by Government officials, especially from the Finance Ministry, to the World Bank headquarters in Washington DC.

Raisina Hill houses all major Ministries of the Government of India.

The change in approach is said to be in line with the policy adopted by several other countries, including China, which limit overseas jaunts to only very crucial negotiations. "When other countries can do it, there is no reason why we should not follow suit. After all, when we have our own representatives in Washington and the World Bank, too, operates a full-fledged Resident Mission here, what is the need for sending a separate official contingent to Washington for each project?" a senior Finance Mini stry official said.

Negotiations in Washington with the World Bank will from now on be restricted to just select projects involving huge funding stakes, the official said.

The move has apparently been initiated by senior Government representatives in the World Bank in Washington. The decision to ground the "frequent flyers" among officials to Washington, especially from the Finance Ministry, has been justified on the count that the Indian contingent in the World Bank is well positioned to push the projects originating here.

For long, getting into the Fund-Bank division in the Department of Economic Affairs (in the Finance Ministry) was coveted by civil service officials. The numerous visits to the Fund-Bank headquarters annually, and the opportunity to network there in the hope of getting a parking slot in the Bank for a few years, were attractive for officers.

Apart from the grounding of officials for talks, a more "sober approach" towards functions to mark the signing of projects with the World Bank is being planned, said Finance Ministry officials. This may signal a change in the practice of tom-toming any p roject signed with the World Bank, marked by camera, television crew, etc.

A section of officials in the Ministry is of the view that there is nothing to rejoice when signing such projects as they add to the country's external debt.

Comment on this article to BLFeedback@thehindu.co.in

Send this article to Friends by E-Mail


Next: Moody's lowers India's rating
Prev: Reforms at our own pace, says Sinha
News

Agri-Business | Corporate | Features | Industry | Letters | Macro Economy | Markets | News | Opinion | Variety | Info-Tech | Catalyst | Investment World | Money & Banking | Logistics |

Page One | Index | Home


Copyright © 2001 The Hindu Business Line.

Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line.