Employees walk through a rest area at the Tata Consultancy Services campus in the State Industries Promotion Corporation of Tamil Nadu IT Park in the Siruseri area of Chennai, India. Dhiraj Singh / Bloomberg
Employees walk through a rest area at the Tata Consultancy Services campus in the State Industries Promotion Corporation of Tamil Nadu IT Park in the Siruseri area of Chennai, India. Dhiraj Singh / BlShow more

What’s the point of buying votes if you don’t get loyalty?



Who doesn’t love a freebie? But would you take one in exchange for your vote? In the southern Indian state of Tamil Nadu, being bribed for your vote is a sometimes comical dysfunction in the political system. Voters are going to the polls next month and many of them are not going to decide which party to vote for based on its policies on health care, education, agriculture or jobs. The choice is between a smartphone (being offered by the opposition party) or a laptop (courtesy of the party in power).

In the state’s political culture, freebies at election time have become the norm. And it’s not limited to Tamil Nadu. In the 2014 election in Punjab, whisky and rum were given to voters in some constituencies. In Uttar Pradesh in 2012, free laptops were promised but at least they were confined to meritorious students and had some tenuous connection with encouraging education. (Let’s not complicate matters by pointing out that most of the beneficiaries had no electricity in their homes, much less an internet connection).

In Tamil Nadu, however, the practice is institutionalised and systematic. Election manifestos list freebies, not policies. Earlier, they used to be humble offerings: 30 kilograms of rice, nylon saris, towels or plastic water storage containers. But in keeping with India’s rising consumerist aspirations, they have become grander. Both the main parties – the opposition Dravidian Munnetra Kazhagam (DMK) and the ruling All India Anna Dravida Munnetra Kazhagam (AIADMK) – have lured voters with gold jewellery, kitchen blenders and fans.

Their competitive bribery shot up to a new level in 2006 when the DMK promised free television sets if it came to power. It won the election and distributed 15 million sets over the next five years. The AIADMK leader, Jayalalithaa, learnt a bitter (and wrong) lesson from this election: that you are only as good as the last freebie you gave.

So in the 2011 election, she went on a spree, promising free cable connections, laptops and gold. She won and is now trying to win a second term. To dislodge her, the DMK has a powerful weapon: a smartphone with a 4G connection. How can she top that?

All this bribery means that the state budget goes awry. Money that could be spent on clean drinking water, sewage systems, schools and hospitals is spent on these one-off gifts. Long-term welfare schemes that aim at sustained benefits have given way to the instant gratification of consumerist impulses.

To be fair, the Jayalalithaa government has pioneered an extraordinary low-cost programme of canteens that provide nourishing, dirt-cheap, hot meals to anyone who needs them in urban areas. Knowing that one meal of the day at least is taken care of is a godsend for poor families. While these meals are heavily subsidised to keep the cost low, they are not handouts – and the distinction is important.

Corrupt practices such as bribing are forbidden under the Election Commission’s code of conduct. Acting on a private petitioner’s complaint in 2013 for freebies to be outlawed, the Supreme Court of India declined to wade into the murky waters. Instead, it told the commission that it was its job to do so. Yet the commissioners seem unable to act, perhaps fearing assault by blender-wielding housewives.

Apart from being unethical, bribing will ultimately lead to an empty exchequer. The prerequisites for any society to prosper in the long run – good infrastructure and educated citizens – are being neglected for cheap, short-term gains.

Funnily enough, largesse can come back and bite you. After the DMK handed out 15 million televisions in 2006, those very TVs used to receive broadcasts of unflattering information and images of the DMK government. The DMK lost power in the next election.

Even in Uttar Pradesh, the government, embittered, has discontinued free laptops. To its indignation, it has discovered from surveys that laptop owners cannot be counted on to vote for the same party the next time round. In fact, many families promptly sold the laptop they were given.

In this shabby transaction between briber and bribed, there is no respect. If politicians treat voters with cynical contempt, voters can be guaranteed to pay them back in the same coin.

Amrit Dhillon is a freelance journalist in New Delhi

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%3A%20%3C%2Fstrong%3EWafeq%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3EJanuary%202019%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ENadim%20Alameddine%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%2C%20UAE%3Cstrong%3E%3Cbr%3EIndustry%3A%20%3C%2Fstrong%3Esoftware%20as%20a%20service%3Cbr%3E%3Cstrong%3EFunds%20raised%3A%20%3C%2Fstrong%3E%243%20million%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3ERaed%20Ventures%20and%20Wamda%2C%20among%20others%3C%2Fp%3E%0A
COMPANY PROFILE

Name: Qyubic
Started: October 2023
Founder: Namrata Raina
Based: Dubai
Sector: E-commerce
Current number of staff: 10
Investment stage: Pre-seed
Initial investment: Undisclosed 

Company%20profile
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Fasset%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2019%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Mohammad%20Raafi%20Hossain%2C%20Daniel%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20Dubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%3C%2Fstrong%3E%20%242.45%20million%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2086%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%3C%2Fstrong%3E%20Pre-series%20B%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%3C%2Fstrong%3E%20Investcorp%2C%20Liberty%20City%20Ventures%2C%20Fatima%20Gobi%20Ventures%2C%20Primal%20Capital%2C%20Wealthwell%20Ventures%2C%20FHS%20Capital%2C%20VN2%20Capital%2C%20local%20family%20offices%3C%2Fp%3E%0A
2018 ICC World Twenty20 Asian Western Sub Regional Qualifier

Event info: The tournament in Kuwait this month is the first phase of the qualifying process for sides from Asia for the 2020 World T20 in Australia. The UAE must finish within the top three teams out of the six at the competition to advance to the Asia regional finals. Success at regional finals would mean progression to the World T20 Qualifier.

UAE’s fixtures: Fri Apr 20, UAE v Qatar; Sat Apr 21, UAE v Saudi Arabia; Mon Apr 23, UAE v Bahrain; Tue Apr 24, UAE v Maldives; Thu Apr 26, UAE v Kuwait

World T20 2020 Qualifying process:

  • Sixteen teams will play at the World T20 in two years’ time.
  • Australia have already qualified as hosts
  • Nine places are available to the top nine ranked sides in the ICC’s T20i standings, not including Australia, on Dec 31, 2018.
  • The final six teams will be decided by a 14-team World T20 Qualifier.

World T20 standings: 1 Pakistan; 2 Australia; 3 India; 4 New Zealand; 5 England; 6 South Africa; 7 West Indies; 8 Sri Lanka; 9 Afghanistan; 10 Bangladesh; 11 Scotland; 12 Zimbabwe; 13 UAE; 14 Netherlands; 15 Hong Kong; 16 Papua New Guinea; 17 Oman; 18 Ireland

Keep it fun and engaging

Stuart Ritchie, director of wealth advice at AES International, says children cannot learn something overnight, so it helps to have a fun routine that keeps them engaged and interested.

“I explain to my daughter that the money I draw from an ATM or the money on my bank card doesn’t just magically appear – it’s money I have earned from my job. I show her how this works by giving her little chores around the house so she can earn pocket money,” says Mr Ritchie.

His daughter is allowed to spend half of her pocket money, while the other half goes into a bank account. When this money hits a certain milestone, Mr Ritchie rewards his daughter with a small lump sum.

He also recommends books that teach the importance of money management for children, such as The Squirrel Manifesto by Ric Edelman and Jean Edelman.

Wicked
Director: Jon M Chu
Stars: Cynthia Erivo, Ariana Grande, Jonathan Bailey
Rating: 4/5
Singham Again

Director: Rohit Shetty

Stars: Ajay Devgn, Kareena Kapoor Khan, Ranveer Singh, Akshay Kumar, Tiger Shroff, Deepika Padukone

Rating: 3/5

The specs

Engine: Dual 180kW and 300kW front and rear motors

Power: 480kW

Torque: 850Nm

Transmission: Single-speed automatic

Price: From Dh359,900 ($98,000)

On sale: Now

How to become a Boglehead

Bogleheads follow simple investing philosophies to build their wealth and live better lives. Just follow these steps.

•   Spend less than you earn and save the rest. You can do this by earning more, or being frugal. Better still, do both.

•   Invest early, invest often. It takes time to grow your wealth on the stock market. The sooner you begin, the better.

•   Choose the right level of risk. Don't gamble by investing in get-rich-quick schemes or high-risk plays. Don't play it too safe, either, by leaving long-term savings in cash.

•   Diversify. Do not keep all your eggs in one basket. Spread your money between different companies, sectors, markets and asset classes such as bonds and property.

•   Keep charges low. The biggest drag on investment performance is all the charges you pay to advisers and active fund managers.

•   Keep it simple. Complexity is your enemy. You can build a balanced, diversified portfolio with just a handful of ETFs.

•   Forget timing the market. Nobody knows where share prices will go next, so don't try to second-guess them.

•   Stick with it. Do not sell up in a market crash. Use the opportunity to invest more at the lower price.

U19 WORLD CUP, WEST INDIES

UAE group fixtures (all in St Kitts)

  • Saturday 15 January: UAE beat Canada by 49 runs 
  • Thursday 20 January: v England 
  • Saturday 22 January: v Bangladesh 

UAE squad:

Alishan Sharafu (captain), Shival Bawa, Jash Giyanani, Sailles
Jaishankar, Nilansh Keswani, Aayan Khan, Punya Mehra, Ali Naseer, Ronak Panoly,
Dhruv Parashar, Vinayak Raghavan, Soorya Sathish, Aryansh Sharma, Adithya
Shetty, Kai Smith  

Five expert hiking tips
    Always check the weather forecast before setting off Make sure you have plenty of water Set off early to avoid sudden weather changes in the afternoon Wear appropriate clothing and footwear Take your litter home with you
Score

New Zealand 266 for 9 in 50 overs
Pakistan 219 all out in 47.2 overs 

New Zealand win by 47 runs

New Zealand lead three-match ODI series 1-0

Next match: Zayed Cricket Stadium, Abu Dhabi, Friday

Winners

Best Men's Player of the Year: Kylian Mbappe (PSG)

Maradona Award for Best Goal Scorer of the Year: Robert Lewandowski (Bayern Munich)

TikTok Fans’ Player of the Year: Robert Lewandowski

Top Goal Scorer of All Time: Cristiano Ronaldo (Manchester United)

Best Women's Player of the Year: Alexia Putellas (Barcelona)

Best Men's Club of the Year: Chelsea

Best Women's Club of the Year: Barcelona

Best Defender of the Year: Leonardo Bonucci (Juventus/Italy)

Best Goalkeeper of the Year: Gianluigi Donnarumma (PSG/Italy)

Best Coach of the Year: Roberto Mancini (Italy)

Best National Team of the Year: Italy 

Best Agent of the Year: Federico Pastorello

Best Sporting Director of the Year: Txiki Begiristain (Manchester City)

Player Career Award: Ronaldinho

THE%20SPECS
%3Cp%3EBattery%3A%2060kW%20lithium-ion%20phosphate%3Cbr%3EPower%3A%20Up%20to%20201bhp%3Cbr%3E0%20to%20100kph%3A%207.3%20seconds%3Cbr%3ERange%3A%20418km%3Cbr%3EPrice%3A%20From%20Dh149%2C900%3Cbr%3EAvailable%3A%20Now%3C%2Fp%3E%0A
The BIO

Favourite piece of music: Verdi’s Requiem. It’s awe-inspiring.

Biggest inspiration: My father, as I grew up in a house where music was constantly played on a wind-up gramophone. I had amazing music teachers in primary and secondary school who inspired me to take my music further. They encouraged me to take up music as a profession and I follow in their footsteps, encouraging others to do the same.

Favourite book: Ian McEwan’s Atonement – the ending alone knocked me for six.

Favourite holiday destination: Italy - music and opera is so much part of the life there. I love it.

COMPANY PROFILE

Company: Bidzi

● Started: 2024

● Founders: Akshay Dosaj and Asif Rashid

● Based: Dubai, UAE

● Industry: M&A

● Funding size: Bootstrapped

● No of employees: Nine

The specs
Engine: Long-range single or dual motor with 200kW or 400kW battery
Power: 268bhp / 536bhp
Torque: 343Nm / 686Nm
Transmission: Single-speed automatic
Max touring range: 620km / 590km
Price: From Dh250,000 (estimated)
On sale: Later this year
COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3ECompany%20name%3A%3C%2Fstrong%3E%20Revibe%20%0D%3Cbr%3E%3Cstrong%3EStarted%3A%3C%2Fstrong%3E%202022%0D%3Cbr%3E%3Cstrong%3EFounders%3A%3C%2Fstrong%3E%20Hamza%20Iraqui%20and%20Abdessamad%20Ben%20Zakour%20%0D%3Cbr%3E%3Cstrong%3EBased%3A%3C%2Fstrong%3E%20UAE%20%0D%3Cbr%3E%3Cstrong%3EIndustry%3A%3C%2Fstrong%3E%20Refurbished%20electronics%20%0D%3Cbr%3E%3Cstrong%3EFunds%20raised%20so%20far%3A%3C%2Fstrong%3E%20%2410m%20%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EFlat6Labs%2C%20Resonance%20and%20various%20others%0D%3C%2Fp%3E%0A
MATCH INFO

Rugby World Cup (all times UAE)

Final: England v South Africa, Saturday, 1pm