Wealth of one person does not represent India’s pride: Mahua Moitra at MBIFL

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India’s pride should not be represented by the wealth of an individual and authorities like SEBI should make it clear what kind of role they play in the economic sector, Trinamool Congress MP Mahua Moitra said here today, in an apparent reference to the Adani saga that has rocked the country’s stock market.

Speaking at the Mathrubhumi International Festival of Letters (MBIFL 2023), the feisty opposition MP said she has been raising concerns about the rise of some particular business houses from 2019 but SEBI failed to even provide a reply.

“When Hindenburg, the short seller from the US, asked SEBI why they have not replied to my questions, they said they were yet to reach a logical conclusion to provide answers. This was to my questions in 2019,” the West Bengal MP recalled.

Ms Moitra said unless like the Bernie Madoff scandal in the US where only private investors who trusted him with money were at risk, the ongoing storm in India has caught major public sector units like LIC, SBI and PNB in it. “This means anyone who has invested in a mutual funds by one these banks are going to be affected,” she pointed out.

Earlier addressing the issue of “Women in Power Politics”, she said it is unfortunate that a law was needed to ensure that women who make up 50 percent of the population get a proportional representation.

Pointing to gender inequality that exists in today’s world, she said that in politics, like in every other field, qualities that are seen as admirable in men are a disadvantage for women.

“If you are tough, know your mind, have a clarity of vision, you are a bitch. You are called depressive. You are called bossy. But the same qualities in a man are qualities to be lauded,” she said, eliciting a round of applause from the audience with a sizeable section of women.

Answering questions about her transition from the corporate world to politics, Ms Moitra said it was a steep learning curve for her.

“All parameters that one holds as success are not applicable in politics and it is not a level playing field. A person who has achieved a lot in his or her professional career may think that it would help them. But those accolades mean nothing if a class ten dropout or someone with criminal cases against them are more capable in winning elections,” she said.

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