Another Scam unearthed by CAG #IITGate

Parliament (both houses) was adjourned for the day (I wonder when and what they do “in there” apart from watching p*** and shouting), after A CAG report highlighting a scam and monumental loss of revenue* in allotment of seats in prestigious institutes like IITs and IIMs was leaked in media. Media cited a draft report which is to be finalized and tabled in parliament after a mandatory review by Monia Gandhi and Kamata Banerjee (You know the real names). The report calculated the amount of money that could have been generated if instead of allotting seats on merit (through silly examinations like CAT or JEE), seats would have been auctioned. CAG calculated the loss by using complex financial calculations on the basis of Present value of money (I needed to show off me being an MBA). The loss was calculated by bringing total salary earned by any student after passing out to the present value at the time of admission. Report also assumed that like global business school 5 to7% of Indian students became entrepreneurs after graduating (I really found this assumption amusing). It also undertook cost of living in to account and performed financial and probability analysis by using Monte Carlo method to calculate per seat revenue forgone by not auctioning them. More details of methodology can’t be revealed here because that may lead to confusion. (Actually I was not able to understand it myself).

This leak of report has created furore over the political circles with different people putting their demands. Apart from general calls of innocence from Congress and resignation of PM from BJP, Kamta demanded all the institutes should be closed down immediately and money saved should be used for serving “poor of the poorest”. Subramanian Swamy said he is preparing his papers to file a petition in court asking for revoking of all degrees(obviously from the establishment of Institutes) allotted through unscrupulous means. This scam is different from previous ones as for this scam reactions have came from as far as heaven (actually HELL). Kharjun Singh said in his statement that he tried reducing the loss as HRD minister by reserving seats for OBC’s as paying capacity of backward castes is less than upper castes (Don’t ask about proof for this assumption as it is constitutionally permitted).

Meanwhile as this drama unfolds in Delhi, meritocracy fled from the nation expecting a better future abroad.

*I have not written the magnitude of scam as I am no able to count number of zeros in the figure mentioned in report.


If you liked this post you may also like another sarcastic story http://goyalprtk.blogspot.in/2011/06/pakistan-president-awarded-pac-members.html

23rd March...

So it is 23 March again, 81 years after those three brave men were hanged for their act of killing an on duty officer in British Empire. There have been enough debate on whether their methods were right or wrong but nobody deny their love and devotion to their country and that is why they have to be kept in high esteem. But after 81 years of that black night when all kind of human rights were kept aside to prepone the hanging by a day because Govt. feared revolt.

Those three men and their group was called as Militants by the crown and as “Misled youth” by more esteemed Indians (You know about whom I am talking about) of that time but Indian heart who felt real pain of Jaliawallah and murder of Lalaji considered them as heroes. Driving an analogy with present world, weren’t they very similar to Afgan boys or Sri Lankan Tamils who are resorting to guns after taking enough of American or Sinhalese terrorism (what they are doing is not short of terror if not exactly terror). But with guns, comes the power, which is enough for these mortals to miss the path and start killing the innocents. But those three men were above that power and power of power to corrupt. I don’t believe that the idea of killing many parliamentarians won’t have came to their mind while bombing national assembly of India but their greatness lied in their resistance to that temptation and use bombs that only made sound. That is precisely the reason even after 81 years we still call them revolutionary and feel really bad when someone compare them to modern terrorists. So on 81st anniversary of the cruel act which marked the end for one of the most remarkable tale of Indian Independence movement I join my countrymen to salute those three men and their sacrifice.

Inqlaab Zindabad…