Friday, December 4, 2009

Same evidence keeps slapping us in the face.

Aakar Patel writes:

  • “Its architects Hirsch Bedner say their estimate for it is around $2 billion. That is Rs9,000 crore, and four people will live in this house. That is Ambani’s contribution to our culture.
  • The Birlas built schools for the rich, and the Ambanis made a school for millionaires.
  • BITS-Pilani’s fee is Rs1 lakh per year, Birla Vidyamandir’s fee is Rs1 lakh per year and Dhirubhai Ambani International School’s fee just for classes XI and XII is Rs7.57 lakh.
  • At the Aditya Birla Memorial Hospital (“Compassionate Quality Healthcare”), a check-up for headaches costs Rs2,850.
  • At the Kokilaben Dhirubhai Ambani Hospital (“Every Life Matters”), the wellness check-up costs Rs5,000.
  • At the Tata Memorial Hospital, which treats cancer, healthcare is free.
  • Rajashree Birla says Indians “don’t have the mindset to give away large amounts of money to charity”. The act of leaving “just a little bit for their children”, she says, “happens only in the US”.
  • “It calls for very large-heartedness,” she says, “I don’t see this happening in the Indian context in the near future at least.”
  • She’s right about our mindset and culture, but wrong in assuming that the problem is about large-heartedness: It is actually about a lack of civilization.
  • She’s wrong also about this not happening in future: It already has happened in India.
  • Of Tata Sons’ 398,563 shares, 65.8% is held by charitable trusts (Ratan Tata owns 0.84%).
  • How much money are we talking about? Tata Sons’ net profit last year was Rs3,780 crore.
  • Tata Sons owns 74% of Tata Consultancy Services and 84% of Tata Motors. If wealthy Indians want to give back to society, they need only buy Jaguar and Land Rover, and not Mercedes and BMW. Tata Sons owns 31% of Tata Steel, 20% of Tata Teleservices and 22% of Tata Tea.”

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