What the F?

Formula one, the world’s richest sport arrives in India this weekend with a $650 million bet even as Chinese and Korean Grand Prix reported losses. The event is being funded without any government backing, pretty unusual for a debut Grand Prix. Jaypee group, controlled by billionaire founder Jaiprakash Gaur has spent $450 million to build a track and another $200 million in royalties over five years. The company has priced tickets at an average $200 with the most expensive tickets costing up to Rs 1,30,000. As regards entertainment, there are dozens of F1 parties, a Metallica concert and a 20-minute show by Lady Gaga at a track side club.

The Delhi event is basically showcasing the nation’s newfound wealth and power of Indian elite. According to the Credit Suisse Bank, 170 000 Indians out of a population of 1.2 billion are worth between $1m and $50m.  And they will enjoy this weekend of debauchery. (Must mention, some from my family have gone there as well)

Ironically, the track lies just outside the capital's limits in Uttar Pradesh, the vast northern Indian state which has poverty levels often worse than those in sub-Saharan Africa.  The World Bank estimates 800 million people live on less than $2 a day in India and our very own Planning commission has revised the poverty line cut-off figures to Rs 32 a day in urban areas and Rs 26 a day in villages, which would further inflate this number. Earlier this month, we had Mayawathi inaugurating the Noida Park in Uttar Pradesh after spending a whopping Rs 685 crore. 

I remember walking in the streets of Moradabad, Badaun and other districts in UP during my days with the WHO in the late 1990's asking them whether their children took the Polio vaccine.  

I feel like doing the same now, with a different question ‘Did someone take your money?’ 

PS  - Rahul Gandhi is apparently doing what I want to do in UP.. ...me thinks he should start with a certain area in Janpath instead