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95270IIM alumnus out to create a social balance sheet

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  • Pearl - Karmayog
    Apr 17, 2014

      Source: The Business Line

      URL: www.thehindubusinessline.com/news/politics/iim-alumnus-out-to-create-a-social-balance-sheet/article5916116.ece

      Date: 15.4.14

      IIM alumnus out to create a social balance sheet


       “This election will spring a silent revolution,” reiterates Satish Jain as he roars into his megaphone urging residents of north Mumbai to vote for the Aam Aadmi Party.


      An IIM Bangalore alumnus, Jain hit the headlines with fellow AAP candidate Anjali Damania (contesting fromNagpur ), when the duo exposed the 22,000-crore power scam in Maharashtra .


      Having spent two decades in the financial services sector split between Morgan Stanley, where he was Executive Director for eight years, and HDFC Mutual Fund, Jain says he is out to create a social balance sheet now. He will be taking on Congress’ sitting MP Sanjay Nirupam and BJP’s two-time MLA Gopal Shetty.


      An upbeat Jain, who was involved in forming the economic policies in the AAP manifesto, greets potential voters with a namaste and a smile. Within financial circles, he is rated amongIndia ’s top analysts but this is the same man who spent time teaching slum children before joining the AAP last August.


      Jain has now shifted base to the distant suburb of Kandivli as part of an effort to stay in his constituency. However, some residents consider him an outsider. “He and AAP seem promising, but will they bring change for sure?” one of them asked.


      Not everyone is as sceptical though. Autodriver Rajgopal Yadav, who is fighting for his house ownership, is betting on this party to combat corruption. “Who listens to us? Some good will come out from those who get rid of these politicians,” he says.


      Jain’s constituency comprises 35 per cent slum dwellers who translate into nearly 18 lakh voters. He plans to reach out to at least 10 lakh of them through door-to-door campaigns.


      “There are pockets where the locals have been Shiv Sena or MNS supporters but want to vote for us now. Everyone is welcoming us with smiles and it is evident that they are seeking a change,” Jain says.


      He plans to meet housing societies and professionals to discuss local issues. “This constituency is more cosmopolitan with high levels of literacy,” he adds


      Jain’s wife, Meenal, who is an engineer-turned-artist, focuses on drawing more volunteers to manage his campaigns. “My office is now used for the party and I am up for this fight from 6 am to midnight,” she says with a bright smile.


      Local issues

      Apart from assuring supply of electricity and water at cheaper rates, Jain hopes to break the donation-based model of school admissions if elected. It is his belief that economics can be worked out if there is a political will. “We plan to monetise railway land too. There is excess land worth 10 lakh crore with the Railways,” Jain says while being welcomed with a garland in a slum.


      His chat with citizens on Google Hangout helped mobilise 3 lakh from 180 people in three days. His total campaign expenditure is estimated to be 25-30 lakh.


      Jain says he does not get funding from the party and 80 per cent of the offices are donated on nominal rents of 1. “We cannot spend as much as these big parties do. Also, rallies largely have people from outside, so the local impact is less,” he adds.


      From a cushy lifestyle to funding his own political campaign through friends and family, Jain admits it has been tough for his two kids adjusting to their new lives.


      Yet, change comes with sacrifice, he says as he settles down in his newly donated office to discuss logistics and other issues for the following day’s campaign.