New Delhi: Senior Congress leader and former finance minister P Chidambaram have expressed concern over "crony capitalism" last Saturday. He said, "The country needs not only five, but 500 business houses." At the same time, he also said, "The government should concentrate on creating an environment that provides equal opportunities to all. Last Saturday, Chidambaram also said, "Today we have crony capitalism. It cannot be ruled out. I can give you examples of crony capitalism. You also know it as much as I know. As long as you continue to dominate crony capitalism, which is not your favorite, they will hesitate to start a business.''

What is crony capitalism- In fact, it is the stage of a capitalist system in which governments prefer a handful of business houses. If such a situation comes, the capitalists who are the favorites of the government are called the crony of the government. Addressing the 25th Wharton India Economic Forum last Saturday, the former finance minister said, "The government has to create an environment where everyone is confident that it will be treated equally and will have a level playing field."

Not only that, but he also said, "The flourishing of just five business houses is not enough. We need to flourish with 500 business houses. We need new businesses and entrepreneurs like the youth who start Infosys, Wipro, and Flipkart. We need new ones, but the new people are afraid that if they do not work according to the government, they will be thrown out. "At the same time, the former finance minister says, "even though there are claims of huge investments, the investment, in reality, is very low."

Also Read:-

PM Modi now most-followed active politician after Trump's Twitter account suspension

Outrage among parents of infants, accuse hospital staff of neglecting duty

Defence Minister Rajnath Singh greets countrymen on 'World Hindi Day'