Friday, October 04, 2019

IRCTC IPO is Worse than 2G and Coal Scams

For 2G, there was no monopoly. There were many existing players. Government had given few new licenses to private players by using some loopholes, so that, the people in power get some money. That was treated like the biggest scam of this century.

Government gave part of the spectrum to their favorite organizations, and it was considered as the scam of the century. If it gives full spectrum to one favorite organization, how big that scam would be?

The same thing is happening to IRCTC. Online ticket booking is given to just one non-government organization, IRCTC. This is the biggest stupid thing done by Modi after Demonitization.

Already, IRCTC is behaving like a dicator, and treats its consumers as its servants. When government loses control, I don't know how worse it can become.

The fair thing that government should do is, it should allow any organization to sell tickets online. For any reason, if it wants to give it to a single organization, then it should select an organization by fair and open process, and select suitable organization every year.

When the government makes the process fair, all those who are buying shares in IRCTC, would lose miserably.

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