Fake encounters of FM read and comment


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Why has PC not answered Dr. Subramanian Swamy? Why is PC asking Finance Ministry to file defamation case against Dinamani.

SoniaG UPA, on the road to economy crash. Remove Rajan, RBI Governor — Dr. Subramanian Swamy
Indian economy in crisis. Nationalize bank accounts of Indian citizens in 70 countries. Confiscate P-Notes. — Dr. Subramanian Swamy
PC aggrieved. Centre files defamation case against Dinamani.

PC’s fake encounter with facts
Kishore Trivedi on September 23, 2013

PC’s fake encounter with facts
Arrogance blended with self-denial is a deadly cocktail and who better than our Finance Minister can demonstrate the after effects better! The fact that the Finance Minister and the UPA are living in a dream world was evident when he released a statement before going to the National Integration Council meeting, which questioned Narendra Modi’s claims of the economic growth under Atal Bihari Vajpayee’s NDA and the economic decline under the present UPA.
Chidambaram asked Modi not to stage ‘fake encounters’ with facts when the truth is that the Finance Minister is fooling the entire nation by giving half-baked facts and incomplete analysis. I ask the Finance Minister five questions that will puncture his attempt to mislead the people of India.
Question 1
 Can Chidambaram deny that when UPA took charge (he was Finance Minister even back then), the growth rate of India was 8.6 per cent? 
This was the result of a commendable effort of the Vajpayee Government considering the economic mess they inherited in 1998 and the severe economic sanctions by the world community in the aftermath of Pokhran. Placing India’s self respect first and backing it up by a grand vision, the Vajpayee Government left the economy at its peak with the growth rate of 8.6 per cent in 2004.
Question 2
Will Chidambaram also deny that the growth rate for 2012-2013, a year when he was Finance Minister, was barely five per cent?
It is alright to share year by year growth rate figures of the NDA rule Mr Finance Minister but did you bother to check the growth rate of the nation in the last year itself, which stood at a mere 4.98 per cent? How did Chidambaram forget this inconvenient but obvious truth right under his watch?
Question 3
Is Chidambaram aware of the Q4 figure for 2012-2013 and Q1 figure for 2013-2014?
It may be worthwhile to remind our Harvard educated Finance Minister that last quarter growth for 2012-2013 stood at 4.8 per cent and the figure dropped even lower during the first quarter of this year at 4.4 per cent. In fact, Narendra Modi was very kind not to mention the quarterly figures for this year this year, preferring to stick to the Q4 figures of last year, which are marginally better.
Question 4
Is Chidambaram aware of what economic think tanks and independent external agencies are saying about our economy?
It is not only the common man and woman or Narendra Modi that is rightly worried about the economy. Various national and international agencies of repute have expressed concern about the economic gloom prevalent across the nation? If he is not, I would love to enlighten the anti-encounter specialist Chidambaram.
Standard & Poor’s has said that the chances of India’s ratings downgrade look much higher compared to other emerging market economies. Further downgrade would even push it to ‘junk’ status. After the quarterly GDP growth at dismal 4.4 per cent, HSBC forecasted GDP growth for FY14 at just four per cent, a low not recorded since the 1990s. Bank of America went to the extent of saying that there is no hope the government can change things the way they are currently. According to the Reuters report, almost all global banks are skeptical about India’s growth prospects. Is this also the NDA’s doing?
Question 5
Does Chidambaram know where the NDA and UPA stand on job creation?
One of the factors that determine the performance of the Government is the opportunity it created for the people.
NSSO statistics (I presume they were not fudged by the NDA, Chidambaram) clearly suggest that the number of jobs created from 1999-2004 was 60.1 million whereas the figure between 2004-2011 is a poor 14.6 million (the figure for UPA 1, which PC calls the golden period growth is 2.7 million). These figures only speak for themselves!
Thus, instead of setting his own house in order the Finance Minister has done everything else under the sun. Few remember that the economic ruin of India began in 2008 thanks to mindless spending.
When the NDA came to power the growth rate was 4.8 per cent. Today we are yet again close to that figure in 2013 after a golden period starting from 1999, whose efforts were seen in the growth rate during 2003 and 2004.

Do we want to go back to 1997? And by the way, do you know who the Finance Minister that time was…

http://www.niticentral.com/2013/09/23/pcs-fake-encounter-with-facts-136593.html


S. Kalyanaraman

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Why MODIfied India will give jitters to alienated Bharatwasis?


Subject: Why MODIfied India will give jitters to alienated Bharatwasis?
Modi: Enemy at the Gates

Modi has arrived and arrived in style, notwithstanding the bombastic resistance from the Congress and their paid agents in the BJP and Media. Delhi is finally on NaMo’s radar and his troops can see the domes of South Block, which he will hopefully occupy by May 2014, if not earlier.

The political career of the senior BJP leadership is over. They did not see the writing on the wall and have now been removed by their cadres. The BJP President, Rajnath Singh, handled it well, but in hindsight, his efforts were completely unnecessary. The lesson for the future is to let the leadership come out through open internal elections where the village, district and the state level leaders vote. Had there been a contest to choose the PM candidate, it is evident that Modi would have easily vanquished the rest. Unanimity is not required. This is true democracy.

The Congress is notably jittery. During Modi’s recent visit to Jaipur, the Rajasthan CM had the electric supplies shut so that the village folk did not see the live telecast. Their impending doom will now translate into incoherent actions. Where in the world has anyone ever heard of an opposition leader, who is only a state CM, being discussed thoroughly be it TV, print media, cocktail circuits, vegetable vendors, taxi drivers etc. NaMo is taking away 80% of their time. Nobody wastes time on the ruling dispensation. Does anybody even discuss MMS, PC, SG, RG etc? The discussions on them are generally negative and the junta only wants to know if they are likely to go to jail.

From the Aam Admi’s point of view, NaMo had made an important statement on a Zee TV program “Kahiye Janab”. He stated: “*Na mein kahta hoon, na kisi ko kahne deta hoon*”. No wonder, the levels of corruption in Gujarat is comparable to that of Singapore.

Modi at the gates of Delhi augurs well for the Indian State.
a) Sycophancy and nepotism will soon be an era of the past.
b) Good bye to vote bank politics.
c) Bureaucrats will fall in line.
d) NGOs who operate from garages of Lutyens Delhi will have to move to safe havens in Congress ruled states.
e) Many newspapers will die. The advertising budget in Gujarat was reduced by 80%.
Expect the same by the Modi Government.
f) The Armed Forces will get their much cherished “Political Control”. Issues will be solved pronto before
any soldier can say “Jack Robinson”.
g) Along with Swamy and Jethmalani, most of the black money stowed abroad will be brought back. The Rupee will challenge the Dollar.
h) NO Income Tax as per Swamy’s statement.
i) Terrorists will now have a “maut ka saudagar”. The Congress has made India the most dangerous country after Iraq and Afghanistan.
j) The Pakis and Chinese may have already gone into a huddle.
k) Modi has a good memory. The Americans had better watch out.
l) J&K will finally be Indian Territory. Enough of Article 70.

An eminent General recently wrote an article “Death of Politics”. I disagree. Modi will bring in clean politics. He has no dependents or damaad to speak of. A bright future awaits a *Modi*fied India.

Author/ Source not known
~
Lets us work and make our…
Government – Proactive
Media – Reactive
Political Parties – Elective
Voters – Selective
Crowds – Constructive
Youth – Creative

MMS, the closet spiritualist
The widely respected economist and scholar has been credited with heralding a new era of economic liberalisation in India with his laissez-faire policy. Yet Prime Minister Manmohan Singh has been at the receiving end of late. Criticisms include use of adjectives like “ineffective”, “pusillanimous” and “understated” to “spineless” and “puppet PM.”

“It astonishes me that Manmohan Singh should talk so little and be so barely visible that we might be forgiven for thinking thatIndia has an imaginary Prime Minister,” wrote a celebrity-journalist in his blog a few months ago.

It is difficult to believe that the architect of India’s laissez-faire could be all that vulnerable, naive or “imaginary”. The non-committal, non-controversial and understated disposition that characterises the gentleman could be a veneer that conceals a far more evolved and enlightened approach towards his duties and responsibilities – in the current situation, as prime minister – that enables him to navigate life without much ado.

In a speech he gave at a public conclave held in the Capital, Manmohan Singh said: “I do not want India to be a super power; I just want India to stand in the comity of nations.” So he doesn’t seem to display any signs of being power-needy.

Perhaps he has no dark side, then. Manmohan Singh could, in all likelihood, be an advanced spiritualist who perceives himself as having absolutely no stake – neither in the country, in the species nor in the planet! He also shows great resilience in adverse situations, whether in a political, social or economic exigency. To be detached like a yogi even while living among fellow beings in the rough and tumble of politics and economics is no easy task. Guru Nanak described such a one as ‘raj mein jog’ – that is, the one who can achieve enlightenment in civic life. He also said: “The lotus in the water is not wet / Nor the water-fowl in the stream. / If a man would live, but by the world untouched, / Meditate and repeat the name of the Lord Supreme.”

Extolling the attributes of the one who has cultivated studied non-attachment to highs and lows, Guru Tegh Bahadur sang thus: “…He who has neither gluttony in his heart / Nor vanity nor attachment with worldly things, / He whom nothing moves, / Neither good fortune nor ill, / Who cares not for the world’s applause, / Nor its censure, / Who ignores every wishful fantasy / And accepts what comes his way as it comes… / He knows the righteous path…”

Some might conclude that Manmohan Singh’s proclivity for remaining a ‘Nirlep Narayan’ makes him out to be one without a stake and therefore he has nothing to win or lose. If he makes promises, they’re bound to be ones that concern issues that would get resolved if not now, later and if not later, even later, perhaps… or not.

It might not be in order to compare Manmohan Singh with King Janaka, who is the only one Krishna praises in the Bhagwad Gita for having transcended everything even while administering a kingdom. However, there are tantalizing similarities between the PM’s studied ‘indifference’ and the non-attachment and transcendence of someone like Janaka, that leads one to conclude that Manmohan Singh is laissez-faire by nature, in the spiritual sense.

How will all this pan out if Manmohan Singh and his party lose the next round of elections? He might just quote from the Ashtavakra Gita: “From one lifetime to another, kingdoms, sons, wives, appearances and pleasures to which you were attached have been lost… For innumerable births have you undertaken work, painful and exacting, with your body, mind and speech. Hence find rest at least now.”

 
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Narayani Ganesh is a senior editor with The Times of India. She writes on issues concerning the environment, science and technology, travel and tourism, heritage, philosophy, and health. She edits The Speaking Tree Sunday newspaper and daily column of that name, and is a leader writer with the Times of India opinion pages.

 

“An History of India as it Happened (not as it was written)”:


 “An History of India as it Happened (not as it was written)”:

CHAPTER 6 : NEGATIONISM AND THE MUSLIM CONQUESTS (Part II)
It is not only Indian historians, who are negationists, but also western historians and India-specialists. We know that the first historians of Indian – the Britishers – twisted India’s history to suit their theory that they had come to civilize a race which was not only inferior to them, but also was supposed to have been heavily influenced in its philosophies or arts by European invaders – read the Aryans or Alexander the Great. But what is less known is that today many western historians not only still cling to these old outdated theories, but also actually more or less will fully mislead the general European public, who is generally totally ignorant and takes these “knowledgeable” comments about India as the absolute truth. One example is France, which has a long tradition of Indianists, who devote their time and life to the study of India. The main school of historic research in France is called the CNRS (National Center of Social Research), which has a very important South Asia section, of which India, of course, is the main component. Unfortunately, many of these India-specialists are not only Left-leaning, that is they are very close to the ideas of the JNU historians, with whom they are anyway in constant contact, but are also specialists of the Mogul period of India history, which is to say that they are sympathetic to Islam’s point of view on India, while they often consider Hindus as fanatics…

Take for instance one of the recent Indian History books published in France “Histoire de l’Inde moderne” (1994 Fayard / Paris), the authors (there are seven of, all famous Indianists), having subscribed to the usual Aryan invasion theory, accuse Shiva “to incarnate obscure forces” (Introduction III) and of course use the word “fanatics” to describe the Hindus who brought down the Ayodhya mosque. Basically, the book does an apology of he moghol period in India; while keeping quiet about all their crimes. In the chapter dealing for instance with Vijaynagar, the last great empire of free India, which symbolized a Hindu Renaissance after nine centuries of savage Muslim conquests, one cannot but perceive the enmity of the authors for Hinduism. The two young princes, founder of Vijaynagar who were converted by force to Islam when in captivity, are accused of “duplicity”, because they reverted back to Hinduism as soon as they were free; then the French historians highlight the “ambition of Brahmins, who used these two young princes to reconquer the power that at been lost at the hands of the conquering Muslims” (page 54); the book then mentions “the unquenchable exigencies of the (Hindu) central power in Vijaynagar”, forgetting to say that that for the first time in centuries, Hindus could practice freely their faith, that they were not killed, their women raped, their children taken as slaves and converted to Islam. And all this to finally sum up in seven words the terrible end of Vijaynagar, which has left a wound in the Hindu psyche even up to today: “looting and massacres lasted for three days”…

But the authors of “Histoire de l’Inde moderne” do not only run down Hindus, they also glorify Muslims, particularly the Moghols. Babur for instance, this monster who killed hundreds of thousands of Hindus and razed thousands of temples becomes at their hands a gentle hero: “ Babur did not like India and preferred to isolate himself in the exquisite gardens he had devised, with their geometrical design, their crossed canals, which evoked to him the rivers of paradise”. Oh, God what a sensitive poet! And to make it sound even more glorious, the author adds: “there he translated a manual of Koranic law and a Sufi treaty of morals”. Oh, what a saint and lover of humanity… Aurangzeb, the cruelest of the Moghul emperors, has also the full sympathies of the authors: “Aurangzeb seems to have concentrated on himself the hatred of militant Hindus, who attribute to him systematic destruction of temples and massive conversion drives. But this Manichean impression has to be seriously countered (page 126)”… Unfortunately for the authors, as we have seen earlier, Aurangzeb was not only proud of what he was doing to the Hindus, but he had his scribes note each deed down for posterity… In 2006 the same authors published “L’Inde contemporaine”, with the same prejudices and bias against Hindus and their political parties.

These French Indianists have also a tradition of speaking against the BJP, which they have always labeled as “fundamentalist” and dangerous for the “secular” fabric of India, although the BJP has been in power for quite a few years and nothing dramatic has happened to the secular fabric of India. The problem is that these Indianists not only write lengthy and pompous articles in France’s main newspapers, such as Left-leaning Le Monde, explaining to the ignorant reader why is India on the point of exploding because of fanatic Hindus, or how the Harijans in India are still the most downtrodden people on earth (this is why when President Narayanan visited France in April 2000, all the French newspapers chose to only highlight that he was an untouchable and that religious minorities in India were persecuted, nearly provoking a diplomatic incident between France and India), but unfortunately they also advise the French government, who like his citizens, is often shamefully ignorant and uninterested by India. This is why, although there has been a lot of sympathy for the French in India because of their tolerant response to the Indian nuclear tests of 1998 (whereas the whole western world reacted hysterically by imposing absurd sanctions), France has not yet bothered to capitalize on this sympathy and has not managed to realize that India is the ideal economic alternative to a very volatile China.

It would be nice to say that Indian journalists are not blind to this influence of French Indianists and the adverse impact it has on Indo-French relations, but when Christophe Jaffrelot, for instance who wrote many a nasty books on Hindu fundamentalism and is most responsible for the bad image the BJP in France, comes to India to release the English translation of his book, he is feted by the Press corps and all kind of laudatory reviews are printed in the Indian Press. So much for secularism in India.

And, ultimately, it is a miracle that Hinduism survived the onslaught of Muslim savagery; it shows how deep was her faith, how profound her karma, how deeply ingrained her soul in the hearts of her faithfuls. We do not want to point a finger at Muslim atrocities, yet they should not be denied and their mistakes should not be repeated today. But the real question is: Can Islam ever accept Hinduism? We shall turn towards the Sage, the yogi, who fought for India’s independence, accepting the Gita’s message of karma of violence when necessary, yet who had a broad vision that softened his words: “You can live with a religion whose principle is toleration. But how is it possible to live peacefully with a religion whose principle is “I will not tolerate you? How are you going to have unity with these people?…The Hindu is ready to tolerate; he is open to new ideas and his culture and has got a wonderful capacity for assimilation, but always provided India’s central truth is recognised.. (Sri Aurobindo India’s Rebirth 161,173)
Or behold this, written on September 1909: “Every action for instance which may be objectionable to a number of Mahomedans, is now liable to be forbidden because it is likely to lead to a breach of peace. And one is dimly beginning to wonder whether worship in Hindu temples may be forbidden on that valid ground (India’s Rebirth p. 55). How prophetic! Sri Aurobindo could not have foreseen that so many Muslim countries would ban Rushdie’s book and that Hindu processions would often be forbidden in cities, for fear of offending the Muslims. Sri Aurobindo felt that sooner or later Hindus would have to assert again the greatness of Hinduism.

And here we must say a word about monotheism, for it is the key to the understanding of Islam. Christians and Muslims (and Jews) have always harped on the fact that their religions sprang-up as a reaction against the pagan polytheist creeds, which adored many Gods. « There is only one real God they said (ours), all the rest are just worthless idols ». This « monotheism versus polytheism business » has fuelled since then the deep, fanatic, violent and murderous zeal of Islam against polytheist religions, particularly against Hinduism, which is the most comprehensive, most widely practiced of all them. It even cemented an alliance of sorts between the two great monotheist religions of the world, Christianity and Islam, witness the Britishers’ attitude in India, who favoured Indian Muslims and Sikhs against the Hindus; or the King of Morocco who, even though he is one of the most moderate Muslim leaders in the world, recently said in an interview: « we have no fight with Christianity, our battle is against the Infidel who adores many gods ».
But as we have seen earlier, Hinduism is without any doubt the most monotheist religion in the World, for it recognises divine unity in multiplicity. It does not say: « there is only one God, which is Mohammed. If you do not believe in Him I will kill you ». It says instead: « Yes Mohammed is a manifestation of God, but so is Christ, or Buddha, or Krishna, or Confucius ». This philosophy, this way of seeing, which the Christians and Muslims call « impious », is actually the foundation for a true monotheist understanding of the world. It is because of this « If you do not recognize Allah (or Christ), I will kill you », that tens of millions of Hindus were slaughtered by Arabs and other millions of South Americans annihilated by the Christians. And ultimately the question is: Are the Muslims of today ready to accept Hinduism ? Unfortunately no. For Muslims all over the world, Hinduism is still the Infidel religion « par excellence ». This what their religion tell them, at every moment, at every verse, at the beginning of each prayer : « Only Allah is great ». And their mollahs still enjoin them to go on fight « jihad » to deliver the world of the infidels. And if the armies of Babar are not there any longer; and if it is not done any more to kill a 100.000 Hindus in a day, there is still the possibility of planting a few bombs in Coimbatore, Mumbai or Varanasi, of fuelling separatisms in the hated land and eventually to drop a nuclear device, which will settle the problem once and for all. As to the Indian Muslim, he might relate to his Hindu brother, for whatever he says, he remains an Indian, nay a Indu; but his religion will make sure that he does not forget that his duty is to hate the Infidel. This is the crux of the problem today and the riddle if Islam has to solved, if it wants to survive in the long run.

We will never be able to assess the immense physical harm done to India by the Muslim invasions. Even more difficult is to estimate the moral and the spiritual damage done to Hindu India. But once again, the question is not of vengeance, or of reawakening old ghosts, but of not repeating the same mistakes. Unfortunately, the harm done by the Muslims conquest is not over. The seeds planted by the Moghols, by Babar, Mahmud, or Aurangzeb, have matured: the 125 million Indian Muslims of today have forgotten that they were once peaceful, loving Hindus, forcibly converted to a religion they hated. And they sometimes take-up as theirs a cry of fanaticism which is totally alien to their culture. Indeed, as Sri Aurobindo once said: “More than 90% of the Indian Muslims are descendants of converted Hindus and belong as much to the Indian nation as the Hindu themselves”…(Rebirth of India, p.237) The embryo of secession planted by the Mahomedans, has also matured into a poisonous tree which has been called Pakistan and comes back to haunt India through three wars and the shadow of a nuclear conflict embracing South Asia. And in India, Kashmir and Kargil are reminders that the Moghol cry for the house of Islam in India is not yet over.

One of the main reasons I have decided to build in Pune a Museum of Indian History, dedicated to the great Shivaji Maharaj (who is depicted in Indian History books as a petty chieftain and a plunderer), is that it will not be enough to rewrite Indian History in books, it will also have to be done in STONE. Please see our website fact-india.com and contribute financially, if you can, to the making of that Museum (we have US, UK and Indian tax exemption). We are also looking for IT persons to donate time to do presentations, animations & GAMES based on the lives of India’s Hindu heroes: Shivaji Maharaj, Maharana Pratap, Rani of Jhansi, Ahilyabhai, the Vijaynagar empire, etc. You can contact me at fgautier@rediffmail.com

courtesy  Francois Gautier, a french author and journalist, who has been covering India and South Asia for the last 35 years. All throughout his reporting years, he noticed that most western correspondents were projecting the problems, warts and shortcomings of India. Hence when Francois Gautier got a journalism prize (Natchiketa Award of excellence in journalism) from the Prime Minister of India, he used the prize money to mount a series of conferences & exhibitions highlighting the magnificence of India and the threats to its sovereignty.

TiTanic Fa…..ll of Indian Rupee


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The Titanic Disaster of Indian Rupee
So what if the economy is as bad as Shraddha Kapoor’s acting, there is always hope… for the economy—not for Shraddha though, sorry doll. But right now it’s all going downhill, Rupee has fallen farther than SRK’s movie scripts, Rupee has fallen further than Akshay Kumar’s comedy, Rupee has fallen to the point where it has all of us worried whether the ‘Idli Wada Sambar’ will get more expensive and we’ll have to eat cheaper items like ‘Mice and worms’.
Although I did hear that last week the Rupee had some fluctuations. The rise and fall of rupee last week could be compared to Pamela Anderson’s…err…career.
As usual the government is doing all it can to stop this snow ball from rolling down hill. In fact just the other day they did something unimaginable! They made Dr. Manmohan Singh….Speak!!!! (gasp!). You know these are drastic times, when our PM actually gets to speak about something. He mentioned to the country that the economy is bad, which is like saying that a volcano eruption is just Mother Nature sneezing. The speech had an unusual ending though, because it didn’t end it with the usual “thik hai?”
  This rupee problem has us middle class people worried, the beggars however are very happy. I bet they all sit in the night together huddled over a warm fire made by burning newspapers and middle-class people tax money, and discuss, “saala, chaar rupaye aur milte toh ek Ameriki dollar ban jata”.
 It turns out that even the rich have a problem with the dollar price increase, they are not pleased with the way government is handling the issue. Now thanks to the difference between Rupee and Dollar, the rich class has to pay an extra two-three hundred rupees to get a diamond studded; platinum plated, sapphire glass covered IPhone 5! And don’t even get me started on the price of accessories for the phone!This drastic fall of the rupee can only be classified as a catastrophe.  And of course as it is with all natural disasters and calamities there are always these random “experts” spawning like Frogs in rainy season, and coincidentally they also make the same amount of noise.
    Apparently there are  12 year old kids on Facebook who have more knowledge than our Finance Minister. They post information of how the economy can be saved and force us to share the post like it’s a mandir ka prasad. I fail to comprehend how a boy, who thinks Manforce is a company that creates vehicles, decides he’s smart enough to post about the economy of India. But it turns out that this issue is not limited to this, there are people who have no freaking clue about the issue but are out there writing full length articles about it, just like I am right now.
    The economy is slow, the government is about to keep all the gold as mortgage, Poonam Pandey has signed a new film…yes, I know things seem bad. But, I think, I have a solution. If we send enough Indians abroad to get jobs they could earn in dollars and send them back here, thus increasing foreign currency in India and in turn closing the gap between Rupee and Dollar. But this is only my expert opinion, you guys can think of anything ranging from Credit Card Fraud to Email scams to earn money for the country.
   Let’s face it; we are desperate crew members trapped on the Titanic! We all know the ship is sinking, we all know that we don’t have much hope, we all know that our Lux Cozi Wool sweaters will not save us from the cold icy water. So save it, all your expert advice isn’t worth crap unless you are Superman or Bill Gates. You are not experts; you are just people on Social Media who have no life, no friends, and no other way to pass the time.
    The government must be doing all it can to change the situation, because eventually all their scams will start to pay very little. Ten thousand rupees would transfer as ten dollars, and it would be a huge loss for those hard working termites gnawing away at the nation’s financial condition, popularly known as ‘politicians’. So don’t worry, they will get their act together and the country’s situation will be proper once again, because if there is no Batman, who will the Joker play with?
    In the mean time, all you people on Facebook should probably start to save up your Farmville Cash! Because if rupee falls any further, who knows, they just might decide to make it our local currency. But this is only my expert opinion, because knowing the government, they’d even settle for Monopoly money since its plastic and fake—just like them!
See you fellow crew members; we’ll probably meet in the cold abyss as we freeze to death near this sinking Titanic! But excuse me, in the mean time, I must find myself a ‘Rose’.

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Ranjani Geethalaya(Regd.) (Registered under Societies Registration Act XXI of 1860. Regn No S/28043 of 1995) A society for promotion of traditional values through,  Music, Dance, Art , Culture, Education and Social service. REGD OFFICE A-73 Inderpuri, New Delhi-110012, INDIA Email: ranjanigeethalaya@gmail.com  web: http://ranjanigeethalaya.webs.com (M)9868369793 all donations/contributions may be sent to Ranjani Geethalaya ( Regd) A/c no 3063000100374737, Punjab National Bank, ER 14, Inder Puri, New Delhi-110012, MICR CODE 110024135  IFSC CODE PUNB00306300

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Titanic Fall of Indian Rupee


 

The Titanic Disaster of Indian Rupee
So what if the economy is as bad as Shraddha Kapoor’s acting, there is always hope… for the economy—not for Shraddha though, sorry doll. But right now it’s all going downhill, Rupee has fallen farther than SRK’s movie scripts, Rupee has fallen further than Akshay Kumar’s comedy, Rupee has fallen to the point where it has all of us worried whether the ‘Idli Wada Sambar’ will get more expensive and we’ll have to eat cheaper items like ‘Mice and worms’.
Although I did hear that last week the Rupee had some fluctuations. The rise and fall of rupee last week could be compared to Pamela Anderson’s…err…career.
As usual the government is doing all it can to stop this snow ball from rolling down hill. In fact just the other day they did something unimaginable! They made Dr. Manmohan Singh….Speak!!!! (gasp!). You know these are drastic times, when our PM actually gets to speak about something. He mentioned to the country that the economy is bad, which is like saying that a volcano eruption is just Mother Nature sneezing. The speech had an unusual ending though, because it didn’t end it with the usual “thik hai?”
  This rupee problem has us middle class people worried, the beggars however are very happy. I bet they all sit in the night together huddled over a warm fire made by burning newspapers and middle-class people tax money, and discuss, “saala, chaar rupaye aur milte toh ek Ameriki dollar ban jata”.
 It turns out that even the rich have a problem with the dollar price increase, they are not pleased with the way government is handling the issue. Now thanks to the difference between Rupee and Dollar, the rich class has to pay an extra two-three hundred rupees to get a diamond studded; platinum plated, sapphire glass covered IPhone 5! And don’t even get me started on the price of accessories for the phone!This drastic fall of the rupee can only be classified as a catastrophe.  And of course as it is with all natural disasters and calamities there are always these random “experts” spawning like Frogs in rainy season, and coincidentally they also make the same amount of noise.
    Apparently there are  12 year old kids on Facebook who have more knowledge than our Finance Minister. They post information of how the economy can be saved and force us to share the post like it’s a mandir ka prasad. I fail to comprehend how a boy, who thinks Manforce is a company that creates vehicles, decides he’s smart enough to post about the economy of India. But it turns out that this issue is not limited to this, there are people who have no freaking clue about the issue but are out there writing full length articles about it, just like I am right now.
    The economy is slow, the government is about to keep all the gold as mortgage, Poonam Pandey has signed a new film…yes, I know things seem bad. But, I think, I have a solution. If we send enough Indians abroad to get jobs they could earn in dollars and send them back here, thus increasing foreign currency in India and in turn closing the gap between Rupee and Dollar. But this is only my expert opinion, you guys can think of anything ranging from Credit Card Fraud to Email scams to earn money for the country.
   Let’s face it; we are desperate crew members trapped on the Titanic! We all know the ship is sinking, we all know that we don’t have much hope, we all know that our Lux Cozi Wool sweaters will not save us from the cold icy water. So save it, all your expert advice isn’t worth crap unless you are Superman or Bill Gates. You are not experts; you are just people on Social Media who have no life, no friends, and no other way to pass the time.
    The government must be doing all it can to change the situation, because eventually all their scams will start to pay very little. Ten thousand rupees would transfer as ten dollars, and it would be a huge loss for those hard working termites gnawing away at the nation’s financial condition, popularly known as ‘politicians’. So don’t worry, they will get their act together and the country’s situation will be proper once again, because if there is no Batman, who will the Joker play with?
    In the mean time, all you people on Facebook should probably start to save up your Farmville Cash! Because if rupee falls any further, who knows, they just might decide to make it our local currency. But this is only my expert opinion, because knowing the government, they’d even settle for Monopoly money since its plastic and fake—just like them!
See you fellow crew members; we’ll probably meet in the cold abyss as we freeze to death near this sinking Titanic! But excuse me, in the mean time, I must find myself a ‘Rose’.

ECONOMIC CHINESE DRAGON READY TO SWALLOW THE WORLD


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This article, though aimed at a US audience, gives a scary insight into China’s growing economic power.


A Little Known Reality.
June 8, 2013. Source: Michael Snyder, Guest Post
In future China will employ millions of American workers and dominate thousands of small communities all over the United States. Chinese acquisition of U.S. businesses set a new all-time record last year, and it is on pace to shatter that record this year.

The Smithfield Foods acquisition is an example.  Smithfield Foods is the largest pork producer and processor in the world.  It has facilities in 26 U.S. states and it employs tens of thousands of Americans.  It directly owns  460 farms and has contracts with approximately 2,100 others.  But now a Chinese company has bought it for $ 4.7 billion, and that means that the Chinese will now be the most important employer in dozens of rural communities all over America.  

 
Thanks in part to our massively bloated trade deficit with China, the Chinese have trillions of dollars to spend. They are only just starting to exercise their economic muscle.

It is important to keep in mind that there is often not much of a difference between “the Chinese government” and “Chinese corporations”.  In 2011, 43 percent of all profits in China were produced by companies where the Chinese government had a controlling interest in.  


Last year a Chinese company spent $2.6 billion to purchase AMC entertainment – one of the largest movie theater chains in the United States.  Now that Chinese company controls more movie ticket sales than anyone else in the world.  

But China is not just relying on acquisitions to expand its economic power.  “Economic beachheads” are being established all over America.  For example, Golden Dragon Precise Copper Tube Group, Inc. recently broke ground on a $100 million plant in Thomasville, Alabama.  Many of the residents of Thomasville, Alabama will be glad to have jobs, but it will also become yet another community that will now be heavily dependent on communist China.

And guess where else Chinese companies are putting down roots? Detroit. Chinese-owned companies are investing in American businesses and new vehicle technology, selling everything from seat belts to shock absorbers in retail stores, and hiring experienced engineers and designers in an effort to soak up the talent and expertise of domestic automakers and their suppliers. If you recently purchased an “American-made” vehicle, there is a really good chance that it has a number of Chinese parts in it. Industry analysts are hard-pressed to put a number on the Chinese suppliers operating in the United States.

 
China seems particularly interested in acquiring energy resources in the United States.  For example,  China is actually mining for coal in the mountains of Tennessee.  Guizhou Gouchuang Energy Holdings Group spent 616 million dollars to acquire Triple H Coal Co. in Jacksboro, Tennessee.  At the time, that acquisition really didn’t make much news, but now a group of conservatives in Tennessee is trying to stop the Chinese from blowing up their mountains and taking their coal.  

And pretty soon China may want to build entire cities in the United States just like they have been doing in other countries. Right now China is actually building a city larger than Manhattan just outside Minsk, the capital of Belarus.
 
Are you starting to get the picture? China is on the rise. If you doubt this, just read the following:
# When you total up all imports and exports, China is now the number one trading nation on the entire planet.
# Overall, the U.S. has run a trade deficit with China over the past decade that comes to more than 2.3 trillion dollars.
# China has more foreign currency reserves than anyone else on the planet.
# China now has the largest new car market in the entire world.
# China now produces more than twice as many automobiles as the United States does. After being bailed out by U.S. taxpayers, GM is involved in 11 joint ventures with Chinese companies.
# China is the number one gold producer in the world.
# The uniforms for the U.S. Olympic team were made in China.
# 85% of all artificial Christmas trees the world over are made in China.
# The new World Trade Center tower in New York is going to include glass imported from China.
# China now consumes more energy than the United States does.
# China is now in aggregate the leading manufacturer of goods in the entire world.
# China uses more cement than the rest of the world combined.
# China is now the number one producer of wind and solar power on the entire globe.
# China produces 3 times as much coal and 11 times as much steel as the United States does.
# China produces more than 90 percent of the global supply of rare earth elements.
# China is now the number one supplier of components that are critical to the operation of any national defence system.
# In published scientific research articles China is expected to become number one in the world very shortly.

And what we have seen so far may just be the tip of the iceberg. For now, I will just leave you with one piece of advice – learn to speak Chinese.  You are going to need it 


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Ranjani Geethalaya(Regd.) (Registered under Societies Registration Act XXI of 1860. Regn No S/28043 of 1995) A society for promotion of traditional values through,  Music, Dance, Art , Culture, Education and Social service. REGD OFFICE A-73 Inderpuri, New Delhi-110012, INDIA Email: ranjanigeethalaya@gmail.com  web: http://ranjanigeethalaya.webs.com (M)9868369793 all donations/contributions may be sent to Ranjani Geethalaya ( Regd) A/c no 3063000100374737, Punjab National Bank, ER 14, Inder Puri, New Delhi-110012, MICR CODE 110024135  IFSC CODE PUNB00306300

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Enter the Dragon- Chinese Economic growth


 

This article, though aimed at a US audience, gives a scary insight into China’s growing economic power.

 
A Little Known Reality.
June 8, 2013. Source: Michael Snyder, Guest Post
In future China will employ millions of American workers and dominate thousands of small communities all over the United States. Chinese acquisition of U.S. businesses set a new all-time record last year, and it is on pace to shatter that record this year.

The Smithfield Foods acquisition is an example.  Smithfield Foods is the largest pork producer and processor in the world.  It has facilities in 26 U.S. states and it employs tens of thousands of Americans.  It directly owns  460 farms and has contracts with approximately 2,100 others.  But now a Chinese company has bought it for $ 4.7 billion, and that means that the Chinese will now be the most important employer in dozens of rural communities all over America.  

Thanks in part to our massively bloated trade deficit with China, the Chinese have trillions of dollars to spend. They are only just starting to exercise their economic muscle.

It is important to keep in mind that there is often not much of a difference between “the Chinese government” and “Chinese corporations”.  In 2011, 43 percent of all profits in China were produced by companies where the Chinese government had a controlling interest in.  


Last year a Chinese company spent $2.6 billion to purchase AMC entertainment – one of the largest movie theater chains in the United States.  Now that Chinese company controls more movie ticket sales than anyone else in the world.  

But China is not just relying on acquisitions to expand its economic power.  “Economic beachheads” are being established all over America.  For example, Golden Dragon Precise Copper Tube Group, Inc. recently broke ground on a $100 million plant in Thomasville, Alabama.  Many of the residents of Thomasville, Alabama will be glad to have jobs, but it will also become yet another community that will now be heavily dependent on communist China.

And guess where else Chinese companies are putting down roots? Detroit. Chinese-owned companies are investing in American businesses and new vehicle technology, selling everything from seat belts to shock absorbers in retail stores, and hiring experienced engineers and designers in an effort to soak up the talent and expertise of domestic automakers and their suppliers. If you recently purchased an “American-made” vehicle, there is a really good chance that it has a number of Chinese parts in it. Industry analysts are hard-pressed to put a number on the Chinese suppliers operating in the United States.

China seems particularly interested in acquiring energy resources in the United States.  For example,  China is actually mining for coal in the mountains of Tennessee.  Guizhou Gouchuang Energy Holdings Group spent 616 million dollars to acquire Triple H Coal Co. in Jacksboro, Tennessee.  At the time, that acquisition really didn’t make much news, but now a group of conservatives in Tennessee is trying to stop the Chinese from blowing up their mountains and taking their coal.  

And pretty soon China may want to build entire cities in the United States just like they have been doing in other countries. Right now China is actually building a city larger than Manhattan just outside Minsk, the capital of Belarus.
Are you starting to get the picture? China is on the rise. If you doubt this, just read the following:
# When you total up all imports and exports, China is now the number one trading nation on the entire planet.
# Overall, the U.S. has run a trade deficit with China over the past decade that comes to more than 2.3 trillion dollars.
# China has more foreign currency reserves than anyone else on the planet.
# China now has the largest new car market in the entire world.
# China now produces more than twice as many automobiles as the United States does. After being bailed out by U.S. taxpayers, GM is involved in 11 joint ventures with Chinese companies.
# China is the number one gold producer in the world.
# The uniforms for the U.S. Olympic team were made in China.
# 85% of all artificial Christmas trees the world over are made in China.
# The new World Trade Center tower in New York is going to include glass imported from China.
# China now consumes more energy than the United States does.
# China is now in aggregate the leading manufacturer of goods in the entire world.
# China uses more cement than the rest of the world combined.
# China is now the number one producer of wind and solar power on the entire globe.
# China produces 3 times as much coal and 11 times as much steel as the United States does.
# China produces more than 90 percent of the global supply of rare earth elements.
# China is now the number one supplier of components that are critical to the operation of any national defense system.
# In published scientific research articles China is expected to become number one in the world very shortly.
 

And what we have seen so far may just be the tip of the iceberg. For now, I will just leave you with one piece of advice – learn to speak Chinese.  You are going to need it 

 

 

 

how to revive Indian economy in just three months…. pl. read


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How to lift the Rupee from its dumps..
Every news channel, every newspaper, every economist worth his/her salt has a panacea to stop the rupee tailspin and bring back some sanity. All, either shooting in the dark or vague, wishy-washy solutions – the TOI, the “world’s largest paper”, so the high priest of journalism grandly recently wrote the country needs ‘structural changes” without pinpointing what they are.
Amidst all these cacophony, only HT’s Chanakya (Sunday, 25/8/13) gives concrete steps that, to one, seem to work…
“This situation calls for a change in script. What we need are big bang measure that take effect immediately – as opposed to stpes that will begin to bear fruit six months later – to lift sentiment. Traditional monetary measures have failed and incremental steps to stop dollar outflows have proved counter-productive.
First, ban gold and silver imports (for, say, six to nine months). This will tell the world that India is serious about addressing its current account deficit problem. (Me: Gold import now attracts custom duty at about 30%. This won’t work, given an average Indian’s appetite for gold regardless of its price. By banning imports, the price in the country may further escalate.So what? Let the Indians be ready pay for it)
Raise petrol and diesel prices by Rs.4-5 per litre to help the government to pare its deficit.
Set aside $25-30 billion from India’s foreign exchange reserves to defend the rupee against speculators. (Me: This is a suggestion put forward by Montek Ahluwalia, the Dy. Planning Commission Chairman).
Settle the Vodafone tax case to signal to the world that their investments here will not be subject to whimsical and politically-motivated policy changes. (Me: absolutely spot-on. The proposal to tax Vodafone billions of dollars on their acquisition of the then cellphone brand, Hutch, from the Hongkong-based company was the single most important factor that stopped MNCs in their tracks from making further investments in the country. Our policy makers and/or the tax sleuths are singularly myopic)
Force real estate companies to cut prices to make housing affordable. This sector has linkages with more than 200 industries. And if it revives, it will set off a virtuous cycle by generating demand in hundreds of feeder industries. (Me: the real-estate companies have been exceedingly greedy and been jacking up prices every two months so much so flats have become unaffordable to middle-class buyers.)

Forget all above suggestions:

Now read few suggestions from me

1. Declare Economic Emergency
2. close all virtual markets trading in commodities, currencies. forex markets with immediate effect. No trading to be allowed for at least six months. Forex to be released to only genuine requirements.
3. Seal all foreign accounts of all the politicians and businessmen and declare the same as National property.
4. Declare death penalty for economic offences.

it would be much simpler than that if India brings back all the money stashed outside by politicians and businessman from foreign countries making Indian Rupee dearer and hard for them to save their own currencies. Will Mr PC or our great economist PM shri MMS do it?

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HOW TO REVIVE INDIAN ECONOMY WITHIN 3 MONTHS?????


 

How to lift the Rupee from its dumps..
Every news channel, every newspaper, every economist worth his/her salt has a panacea to stop the rupee tailspin and bring back some sanity. All, either shooting in the dark or vague, wishy-washy solutions – the TOI, the “world’s largest paper”, so the high priest of journalism grandly recently wrote the country needs ‘structural changes” without pinpointing what they are.
Amidst all these cacophony, only HT’s Chanakya (Sunday, 25/8/13) gives concrete steps that, to one, seem to work…
“This situation calls for a change in script. What we need are big bang measure that take effect immediately – as opposed to stpes that will begin to bear fruit six months later – to lift sentiment. Traditional monetary measures have failed and incremental steps to stop dollar outflows have proved counter-productive.
First, ban gold and silver imports (for, say, six to nine months). This will tell the world that India is serious about addressing its current account deficit problem. (Me: Gold import now attracts custom duty at about 30%. This won’t work, given an average Indian’s appetite for gold regardless of its price. By banning imports, the price in the country may further escalate.So what? Let the Indians be ready pay for it)
Raise petrol and diesel prices by Rs.4-5 per litre to help the government to pare its deficit.
Set aside $25-30 billion from India’s foreign exchange reserves to defend the rupee against speculators. (Me: This is a suggestion put forward by Montek Ahluwalia, the Dy. Planning Commission Chairman).
Settle the Vodafone tax case to signal to the world that their investments here will not be subject to whimsical and politically-motivated policy changes. (Me: absolutely spot-on. The proposal to tax Vodafone billions of dollars on their acquisition of the then cellphone brand, Hutch, from the Hongkong-based company was the single most important factor that stopped MNCs in their tracks from making further investments in the country. Our policy makers and/or the tax sleuths are singularly myopic)
Force real estate companies to cut prices to make housing affordable. This sector has linkages with more than 200 industries. And if it revives, it will set off a virtuous cycle by generating demand in hundreds of feeder industries. (Me: the real-estate companies have been exceedingly greedy and been jacking up prices every two months so much so flats have become unaffordable to middle-class buyers.)

Forget all above suggestions:

Now read few suggestions from me
 
1. Declare Economic Emergency
2. close all virtual markets trading in commodities, currencies. forex markets with immediate effect. No trading to be allowed for at least six months. Forex to be released to only genuine requirements.
3. Seal all foreign accounts of all the politicians and businessmen and declare the same as National property.
4. Declare death penalty for economic offences.
 

it would be much simpler than that if India brings back all the money stashed outside by politicians and businessman from foreign countries making Indian Rupee dearer and hard for them to save their own currencies. Will Mr PC or our great economist PM Shri MMS do it?

 

WHY YOU SHOULD SUPPORT NARENDRA MODI AS PM IN 2014 ? PL. READ


 

Whatever your political inclination , this article is worth a read ..
>>
>>TODAY as we are poised to look ahead, and forward, with HOPE to a better INDIA …
>>
>>Why I shall Support Modi in 2014…
>>By Avay Shukla – Retired IAS officer
>>
>>
>>I have been getting more and more worried over the last year or so at the direction( or lack of it) in which our country is headed. It is
>> like a runaway plane falling from the skies and we are plummeting past one alarming indicator after another– inflation,economic slowdown, falling rupee,complete break-down of law and order, ever emboldened Naxalites, total internalization of corruption, an administration that answers to no one,complete lack of governance, cronyism on a scale never seen before, a brazen lack of accountability, public  intimi-dation of constitutional authorities, a judicial system that has all but collapsed, environmental disasters that no one knows how to cope with, complete paraplegia of decision-making at all levels in government, appeasement of †minorities†and Other sections that are reachingridiculous and dangerous levels, dynastic politics at the Centre and the states reminiscent of the Mughal era…….
>>
>>I could go on and on but after some time the mind becomes numb and registers only one emotion – IT IS TIME FOR A CHANGE. Another five years of this and we would be well on our way to becoming a failed state and joining the ranks of Pakistan, Haiti and Somalia.
>>
>>The general elections of 2014 offers us one last chance to redeem ourselves. I have been on this mortal coil for 62 years and have never voted for the BJP but have, after much thought, decided to support MODI in 2014. This is considered a heresy in most neo-liberal circles in India today but we have to go beyond mere labelling and stereotypingto understand my decision.
>>
>>But before I go on to Mr. Modi himself, let us review the context in which this decision has been taken. The state of the country is self evident in para one above.
>>
>>
>>The next question then
is: What are the alternatives or choices that we as voters have?
>>
>>The Congress will only perpetuate the present mess-even more worrying and dangerous is the fact that, were the Congress to return to power, it would consider it to have a renewed mandate to carry on as before.
>>
>>In any case, who in the country would lead the Congress- a reluctant dynastic or an ageing economist who has discovered his true skills lie in politics, or a backroom puppeteer? Or, God forbid, all three? ( Seriously, this is a possibility- after all not one of these three want to shoulder sole accountability, and they may reason that if a dual power center can ensure two terms, a triple may be good for even more!) No, to my mind the Congress is not an option.
>>
>>Who else, then?
>>
>>Well, if we scrape the bottom of the barrel assiduously we will come up with Mamta Banerjee[ TMC], Mulayam Yadav[ SP], Nitish Kumar[JDU], Naveen Patnaik[ BJD], Jayalalitha[ AIADMK], Sharad Pawar[ NCP] and Mayawati(BSP). There is no need to discuss their achievements or ideologies at a national level (incidentally, not even one of them has a remotely national outlook or ideology since they cannot see beyond pandering shamelessly to the vote banks in their respective states) because they are state (not even regional) leaders and none of them can hope to be Prime Minister on the strength of their own Parties.
>>
>>They all realize this, of course, hence the idea which periodically emerges like a skin rash, of a Third or Federal Front. This didn’t work even when a Third Front could agree on a leader (as in the case of I.K. Gujral or Deve Gowda). How on earth will it work when every one of the state leaders mentioned above feels that he or she has been reincarnated precisely to become the Prime Minister of India?
>>
>>The negotiations for choosing a PM (if the Front comes up with the numbers, that is) will resemble one of those WWF fights where about six hunks are put into the ring to beat the daylights out of each other till one of them is left standing to claim the crown. I cannot see all of them agreeing on even one policy issue, whether it is reservations, industrial stimulus, foreign policy, dis-investtment, environmental protection, center-state relations etc. If they come to power at the Center, the paraplegia of today will become quadriplegia tomorrow.
>>Fortunately, in any case, they can never muster the 274 seats required-it will be difficult for them to reach even hundred even if they do very well in their states.
>>
>>So a Third Front is a
non-starter, and voting for any of these parties will only help the Congress by dividing the anti-congress vote. [You will have noticed that I have not mentioned Mr. Karat of the CPM. That’s because he’s become like a flat bottle of Coca-Cola – earlier he was all fizz and no substance: now even the fizz has gone].
>>
>>That leaves only the BJP, with its historical baggage of the RSS, Hindutva, Ramjanmbhoomi (by the way, this baggage also includes five years of exemplary governance under Vajpayee from 1999 to 2004) – perhaps enough baggage to dissuade me from voting for the party. Except that this time the BJP has an add-on: Narendra Modi. And that, to my mind, adds value to the party and makes the crucial difference.
>>
>>Modi has been reviled ad-nausea m by the “secular†parties and sections of the elite media for many years for the 2002 riots in Gujarat, by the former not because of any love for the Muslims (as I hope to show later) but simply in order to appropriate the Muslim vote, and by the latter because they have to keep whipping somebody in order to get their TRPs – in India only extremes succeed. Modi has been tried and condemned by them not on the basis of facts but by an opportunistic mixture of innuendo, presumption, speculation, half-truths, hear say. Look at the facts. There was a horrendous orgy of killing of Muslims in Gujarat in 2002 where about 2000 of them were massacred. Some of Modi’s ministers and many BJP/ VHP workers were involved: quite a few of them have also been convicted, the trials of many still go on.
>>
>>The Supreme Court set up at least three SITs and is itself monitoring the investigations. Many PILs have been filed in the SC and the High Court accusing Modi of master-minding these massacres. In not a single case has either the Supreme Court, the High Court or the SITs found any evidence of Modi’s personal complicity.
>>
>>Yes, they have held that he could have controlled the situation better- but nothing beyond that in-spite of ten years of frenetic drum beating and sustained vilification.
>>
>>Now look at the other set
of facts. Under Modi’s current watch, perhaps for the first time in India, people have been actually convicted for communal rioting and murder- more than 200 convictions, with about 130 of them sentenced to life imprison-ment. All the communal massacres in India since Independence have not
resulted in even one tenth of these convictions.
>>
>>Modi’s government has to be given some credit for this: yes, the investigations were carried out by the SIT and not by Modi’s police; yet Modi could, if he was so inclined, have interfered covertly in the whole process by asking his officials not to cooperate, by intimidating witnesses, influencing judges, conveying hints to prosecutors- something which, as we all know too well, governments of all political hues in India have mastered.
>>
>>Modi could have done what the Congress has done so successfully in Delhi in three other high-profile cases being monitored by the Supreme Court- the Commonwealth Games Scam, the 2G case, and Coalgate ( not to mention also the Sikh massacres of 1984): have these cases made any headway? has wrong-doing been proved in a single instance? has anyone been convicted?
>>
>>No, Sir, these investigations will drag on and on till they are lost in the mists of time. Supreme Court monitoring cannot ensure justice unless the govt. of the day allows its agencies to function – it is to Modi’s credit that he did so allow them.
>>
>>Compare this with the manner in which the police in Delhi have been emas- culated to protect some senior Congress leaders in the 1984 Sikh carnage – everyone in Delhi knows, even after 27 long years, that their hands are dipped in blood, but the evidence will never reach the courts; the recent acquittal of Sajjan Kumar only confirms this.
>>
>>The biggest stigmata on Modi is the charge that he is †communal†and not  secular†.
>>
>>All (non-NDA) political parties never tire of tom-tomming this from the roof-tops and consider this their trump card to ensure that he will never achieve his Grand-slam at the centre. But after eleven years this is beginning to wear thin and people are beginning to question the assumptions behind this charge and even the definition of what constitutes †communal†and “secular.â€
>>
>>Nirad Choudhry had long ago given his opinion that India is the Continent of Circe where humans are turned into beasts-it is also the graveyard of the Oxford Dictionary where the meanings of words are turned on their heads to suit political exigencies! So †communal† today means a Hindu who is not ashamed of saying he is a Hindu, and † secular†means a Hindu who panders to other religions in order to get their votes at the next elections!
>>
>>By this inverse definition Modi is considered communal- notwithstanding that not a single Hindu- Muslim riot has taken place in Gujarat under his watch since 2002, notwithstanding that the BJP got 17% of the Muslim vote in the Assembly elections in the state earlier this year, notwithstanding that the party won five of the eight seats which had a dominant Muslim voter base, notwith-standing that the average Muslim in Gujarat is much better off economically  than his counterpart in Assam, UP or Bihar (headed by †secular† parties).
>>
>>Compare this with the record of the Samajwadi party in UP where more than a hundred communal riots have taken place in less than two years, with the Congress in Assam where hundreds of Muslims were butchered last year and at least three hundred thousand of them are still languishing in relief camps with no hope of ever returning to their villages, with the Congress ruled Maharashtra where hundreds of Muslims were killed with the active help of the police after the Bombay blasts. ( Needless to say there do not appear to have been any convictions in any of these pogroms). And MODI is communal?
>>
>>I am a Hindu but I stopped going into any temple twenty years ago because I was sickened by the rapacious behavior of their pundits. I am no longer a practicing Hindu in a public, ritualistic sense and frankly I don’t know how many of the religious beliefs I retain, but I still consider myself a Hindu because Hinduism is more than just a religion- it is a culture, a civilisation, a way of life.
>>
>>
>>But in the Kafkaesque India of today if you were to proclaim that you are a Hindu ( even though you have equal respect and regard for all other religions) you would be branded †communal†– this is what political discourse has been reduced to by our politicians. And being †secular†no longer means treating all religions equally: it means splintering society into a myriad †minorities†( another perversion of the Oxford Dictionary) and then pandering to such of them as suit you in your naked pursuit of power.
>>
>>In the process India has been converted into a complex jigsaw of minorities, castes, tribes, classes, sections and what have you. The British could have learnt plenty from us about Divide and Rule! But more and more right thinking people are beginning to question this recipe for disaster, and I am one of them.
>>
>>India is 80% Hindu- why should one then have to be apologetic about proclaiming that one is a Hindu ? We have been ruled and exploited and vandalized for eight hundred years by Muslims and for another two hundred years by Christians, and yet we have accorded these two religions a special status as †minorities†with privileges that the Hindus don’t have. Has any other country in the world ever displayed such a spirit of accommodation and egalitarianism? Is there a more secular civilisation in the world? And yet, a Hindu who says he is a Hindu is considered communal!
>>
>>Does a Hindu have to prove his secular credentials time and again by greater levels( or depths) of appeasement of other religions simply so that they can continue to be vote bank fodder for political parties? Modi has had the courage to raise these questions and is therefore being reviled by those political parties whose apple carts he is threatening to upset. But people are beginning to pay attention. Modi is not considered secular because he is proud to be a Hindu and refuses to give doles or concessions to any religious group( including Hindus, but that is conveniently glossed over) beyond what is provided in the constitution and the laws of the land. He believes this weakens the social fabric of the country and that even handed development is the best guarantee for equitable prosperity for all. He is not considered secular ( and instead is branded as communal) because he says publicly that he is proud to be a Hindu. And
has he done anything blatantly or provocatively pro-Hindu in the last ten years? There is not a single instance of this and yet he is vilified as communal and anti-minorities by the same party that presided over more than two hundred anti-Muslim riots in the seventies and eighties in Gujarat, that massacred 6000 Sikhs in 1984, that lit the fuse in Ayodhya by installing an icon of Ram in the mosque there, that failed to take any action when the Babri masjid was being razed to the ground! Modi has carefully distanced himself from any public support of Hindutva, has kept the VHP and the Bajrang Dal on a tight leash in Gujarat ever since he came to power there, and has even incurred the wrath of the RSS for not toeing the line on their purely religious agenda. It takes time, and some mistakes, to attain maturity; the Modi of today is not the Modi of 2002: then he was still in the pracharak mould of the RSS, inexperienced in
the exercise of power, lacking administrative experience. He has now developed into a politician with a vision, an administrator who has delivered to his people and caught the fancy of the entire corporate world in India and abroad. Rahul Gandhi has been around in politics for almost the same length of time but has still not progressed beyond his epiphanic perception that India is a bee-hive.
>>
>>Pause a while to honestly compare Modi’s qualities with his peers in the political firmament. His integrity is impeccable, both personal and vicarious. Even Mr. Manish Tewari has not been able to charge him on this score, and that’s saying something! I am not aware of a single major scam unearthed during his term( compare this with the Congress either in Maharashtra or at the Centre: the Congress has more skeletons in its cupboard than a graveyard does).
>>
>>Modi has no family to promote or to insure against inflation for the next hundred years( compare this with any other party leader, all of whom have given an entirely new meaning to the term †joint family†– brothers, uncles, wives, sons, sons-in-law, nephews-all happily and jointly looting the nation’s resources). Modi has a vision and a road map for the future and he has demonstrated in Gujarat that he can implement his vision.
>>
>>No other major leader of
the parties that are vilifying him comes even close to comparing with him in this respect – Manmohan Singh once had a vision but his unique concept of †coalition dharma†has ensured that he now cannot see, or hear, or talk; Rahul Gandhi cannot see beyond bee-hives and boats that rise with the tide, Sharad Pawar cannot see the woods for the sugar-cane stalks, Mulayam Singh has been fixated on the Prime Minister’s chair for so long that he has now started hallucinating; Nitish Kumar’s vision is a peculiar bi-focal  which  enables him to see only Muslims and OBCs; Navin Patnaik, being erudite and sophisticated must be having a vision but he has not deigned to share it with anyone yet; Mayawati cannot see beyond statues of herself and of elephants; and as for Mamta Banerjee, she is colour blind – she can only see red. Modi’s track record as an administrator inspires confidence in his ability to play a role at the
national level.
>>
>>He sets specific goals, provides the resources and then gives his bureaucrats a free hand to operate. He has ensured water availability to towns and to greater number of farmers, Gujarat now has 24X7 power and has even offered to sell power to other states.
>>Modi has realised long before his peers that future growth can only come from the manu-facturing sector since the past stimulus provided by the service sector is now bottoming out, and has prepared his state to attract capital: perennial road-blocks which have bedevilled other states – land acquisition, labour issues, law and order, lack of decision making, cronyism – have all been sorted out. It is no surprise then that Gujarat has been receiving the second highest amount of investment funds after Maharashtra.
>>His opponents, looking for anything to denigrate his achievements, cavil that Gujarat has always been a progressive state and no credit goes to Modi for all this. True, Gujarat (and Gujaratis) have always been entrepreneurial and progressive, but any economist can tell them that the higher you are on the performance scale, the more difficult it is to make incremental gains – and these gains Modi has been making year after year.
>>Gujarat has consistently been among the top five states in just about all economic, social and human development indicators, and far above the national figures.
>>Here are some figures I picked up in the Hindustan Times of June 12, 2013:
>>
>>[a] Infant Mortality Rate
>>                                     2005        2010
>>     Gujarat                      54              44
>>     Haryana                    60              48
>>     Orissa                         5               60
>>     INDIA                        58               47
>>
>>[b]  Access to Safe Drinking Water( in %)
>>                                      2002           2011
>>      Gujarat                    84.1            90.3
>>      Maharashtra           79.8             83.4
>>      Andhra                    80.1             90.5
>>      INDIA                      77.9             85.5
>>
>>[c]  Poverty Reduction ( in %)
>>                                     2004-5         2009-10
>>     Gujarat                    31.6               23
>>     Karnataka               33.3               23.6
>>     MP                          48.6               36.7
>>     Orissa                     57.2               37
>>     INDIA                      37.2               29.8
>>
>>[d]  Annual GDP increase( in %) from 2005-6 to 2012-13
>>     Gujarat                       10.3
>>     Uttarakhand               12.36
>>     MP                               8.82
>>     Maharashtra                9.97
>>     Delhi                          11.39
>>
>>Modi is no paragon of virtue. He is arrogant, does not allow a second rung of leadership to emerge, brooks no opposition, is impatient and authoritative, is not a consensus builder. But then we are not seeking to canonize a saint but looking for a political leader who can get this country out of the morass that its present stock of politicians has got us into. We are looking for someone who can be decisive rather than justify inaction under the garb of seeking an elusive † consensus†. We are looking for someone who has the courage to have a vision and the skills to translate it into reality. We are looking for someone who will work for the country and not for his †joint family†.
>>
>>We are looking for someone who can restore our identities as INDIANS and not merely as Brahmins or Scheduled castes or Muslims or Backward castes.
>>
>>We are looking for someone who will not pander to religions and be truly secular.
>>
>>And we are looking for someone who will not be ashamed to say that he is a Hindu in the land that gave birth to the most tolerant and enlightened religion this world has seen.
>>
>>Modi may fail- in fact, there are good chances that he will. But he at least promises change, whereas the others promise only more of the same.
>>
>>He offers us Hope. Shouldn’t he be given a chance?
>>===========================================================
>>** The author retired from the Indian Administrative Service in December 2010. He is a keen environmentalist and loves the mountains – he has made them his home._
>>
>>
>>
>>
>>
>>
>>–
>>  ZINDAGI DA KEE BHAROSA, KADDON PATAKA BOL JAYEE, so let us ENJOY
>>
>>”To fight the darkness do not draw your sword, light a candle”
>”You can’t climb the ladder of success with your hands in your pockets”
>
>Note:
>If you  would like to forward this request to others, please do     Thank you.

 

We are not Responsible


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We are not responsible!
EQUITYMASTER HOMEPAGE 24th Aug 2013
The UPA Government has earned itself the dubious distinction of involvement in several large corruption scandals. Each time various Government functionaries absolve themselves of all responsibility. Perhaps it should admit being anirresponsible Government, which it is. 
The latest is the scam at the National Spot Exchange Limited (NSEL). When a group of investors, with an aggregateRs 5,500 crores stuck in the exchange, complained to Arvind Mayaram in the Ministry of Finance, the expected answer was that his Ministry was not responsible. It was the Ministry of Consumer Affairs that was, under whose jurisdiction the regulator, Forward Markets Commission (FMC) was supposed to be responsible for regulating the exchange. But FMC Chairman claims he is not responsible, as he was appointed regulator but without power! The question, raised by these columns earlier, and unanswered is, who permitted the NSEL to start operations, without first authorising a regulator to regulate its operations?
Imagine the chaos that would ensue if each regulator took a similar stance. 
What if the RBI shirked responsibility of a banking fraud and claimed it was not responsible? What if SEBI maintained that it was powerless against a company who, e.g. had raised money through an IPO and misused it? Is it any wonder, then, that individuals repose their faith in gold and not in paper assets? If the Government is genuine, it has to protect investors, else it will incur their wrath prior to a general election. 
Echoing the sentiment, the 
NSEL says it is not responsible. The top management has been sacked, which is a gesture by the promoters of the Exchange to shirk responsibility for the actions of a management they appointed.
Let’s look at other examples of shirking of responsibility.
The Finance Minister says that 
it is not responsible for the state of the economy, which is in dire straits. It is not responsible for the high fiscal deficit or for the unsustainably high current account deficit. For the latter, it is the citizen, with his penchant for gold, explained above, who is responsible! For the poor GDP growth it is the companies who are responsible, for going slow on investment, and not the Government, which has blocked several permissions required for the investment. The National Highways Authority of India has had to cancel 6 road projects because of not being able to get land acquisition clearance. But, of course, the Government is never responsible.
Consider the depreciating rupee. In 1947, when India became independent, the Rupee was equal to the US $. It is now Rs 65/$. So in 66 years, the currency has depreciated 65 times. The value of the currency is related to productivity of the country. This means that India has, since independence, sharply declined in productivity. The Congress partyhas been in power for over 75% of the time during these 65 years. But, of course, it is not responsible! 
The falling rupee will, obviously, lead to inflation. Crude oil, as well as gas, translated to INR, would be more expensive. This would mean that all petro products, petrol, diesel, LPG, kerosene, would cost more, and so will power from gas based plants. So the subsidies on the petro products and power will shoot up, and, in a bid to contain them, the Government will raise prices, with the velvet glove admonition to kindly bear with us‘. Corporate profits will be hit by the hike in costs, combined with the higher interest rates which are the consequence of a badly managed economy. Of course, the Government is not responsible. 
This is a 
criminal misallocation of resources. The national productivity rises when children are given a proper education and training and when laws and regulation are conducive to economic acitivity and growth. Not when subsidies are given for people to drive cars in. Annual sale of cars is under 4 m., or 0.08% of our population. The Government subsidises them instead of spending money on better education.
Only a few countries are teaching their children how to think. These include Finland, Poland, Japan, South Korea and Canada, who consistently score high on the PISA test. India scores poorly. Children become smart, and, later, productive, when they are challenged to think for themselves. In India the Government has cleared the way for all to be promoted. This does not challenge them to think. They are not as productive as they can be. 
Without productivity, the nation slips.The currency weakens. Other countries race ahead. But the Government is not responsible. 
So tyrannical are the rules and laws in India, and so subjective, that 
we destroy our own industries and encourage the brightest to go abroad. 
The sugar industry, one of the most controlled industries, is being killed. Prices for sugar cane are fixed by both the Centre and the States, both competing with each other to increase prices, never mind the viability of the sugar factories. They set high prices to get farmer votes; the cost is borne by the mills. The mills are going bankrupt. 
Bad politics drives away good economics. But the Governments are not responsible
Another example is that of iron ore exports. These were banned after cases of illegal iron ore mining (corruption, again, in various states like Karnataka and AP) were discovered. It is easy to ban, or destroy. It is not easy to rebuild. 
The drop in iron ore exports is a contributory factor to the Current Account Deficit. It has led to a loss of jobs. And to a fall in production of steel. Is anybody reviewing the export ban? Or is nobody responsible?
Well, companies like Tata Steel have, in partnership with a Canadian company, set up an iron ore project in Canada, and has already got permission. (South Korean Posco, after an 8 year wait in Odisha, has not). If a large FDI proposal such as Posco comes in it eases pressure on the rupee. But there is no thinking in Government. As this article in the Economist points out, economic activity is being shifted out of India.
America is anticipating an economic boom, predicated largely on a boom in output of shale gas, using a technology called hydraulic fracking. Now it is not the availability of technology that is preventing the search for shale gas in India. Technologies can be bought, or obtained, or developed. Rather, it is ownership rights. In the US, the land owner has the right to everything on, or under, his land. In India it is the Government. As a result, the prospectors for oil and gas, can deal with land owners and sign contracts for exploiting the gas below their lands. And finds a lot of it, lowering gas prices and incentivising producers of energy dependent steel, fertilisers, metals, etc, to relocate to the US and create jobs and growth.
In India, the Government claims right to any resource under the ground of property belonging to any individual. It auctions the right to hunt for oil/gas, creates a huge mess in the pricing of it. Production drops and prices rise. 
The fall in production leads to higher imports, a higher current account deficit and a falling currencySo, what is important to the Government? Is it the ownership of resources under individual land or is it the possibility of larger oil/gas finds and an easing of economic problems? A responsible Government would know the right answer. There is something strange happening in the gold market, as per this blog. Export of gold from London (where it is not mined, but, rather, held as a backing for gold ETFs) has zoomed, to Switzerland. In 2012 exports were a mere 92 tonnes. In the first half of 2013 it is 797 tonnes. It appears that this gold is being melted to smaller sizes for export to Asia. Presumably most of it is smuggled into Indiaas import duties have been myopically hiked. There is another interesting article titled ‘Hawala Logic’ by Anand Ranganathan, which points to the sharp fall in the rupee versus the US $ in the months preceeding a general election, presumable to fetch more rupees when the $s stashed abroad are brought back. The only exception was when the BJP was in power in 2004 and the rupee appreciated.
It is possible that the Government may announce another amnesty scheme, in which those with funds stashed in Swiss banks and other offshore centres (which the Supreme Court is insisting on taking action agains) can be brought back with a smallish penalty. 
The fall in the rupee more than pays for the penaltyThen the Government will take credit for the strengthening of the rupee. The stockmarket, where the money will be invested after the recent fall, could bounce back, and everyone will sing happy days are here again. This is just a hypothesis.
Last week the BSE-Sensex lost 79 points to close at 18,519, and the NSE-Nifty dropped 36 to end at 5,471.
International factors are ominous. As per this blog ‘What Happened in 1987’ the current rally since 2012 in US markets isdriven entirely by valuations, and not by earnings. The US Fed is likely to taper off its bond buying programme from September, and is to have a new boss who may be more hawkish. On the flip side, should PC come out with a disclosure scheme that would lead to funds stashed abroad coming back, it could lead to a rally. If not for that, the economy, the currency and the stockmarket would continue to slide. Of course, the Government is not responsible.

Comments on this edition of Straight From The Hip: Post a comment! | Read comments
J Mulraj is a stockmarket columnist and observer of long standing. His weekly column on stockmarkets has run for over 25 years. An MBA from IIM Calcutta, he has been a member of the BSE. He is now India Representative for Institutional Investor. A keen observer of events and trends, he writes in a lucid yet readable style and takes up issues on behalf of the individual investor. Nothing pleases him more than a reader who confesses having no interest in stockmarkets yet being a reader of his columns. His other interests include reading, both fiction and non fiction, bridge, snooker and chess.


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We are not Responsible


 

 

We are not responsible!

EQUITYMASTER HOMEPAGE 24th Aug 2013

The UPA Government has earned itself the dubious distinction of involvement in several large corruption scandals. Each time various Government functionaries absolve themselves of all responsibility. Perhaps it should admit being anirresponsible Government, which it is. 

The latest is the scam at the National Spot Exchange Limited (NSEL). When a group of investors, with an aggregateRs 5,500 crores stuck in the exchange, complained to Arvind Mayaram in the Ministry of Finance, the expected answer was that his Ministry was not responsible. It was the Ministry of Consumer Affairs that was, under whose jurisdiction the regulator, Forward Markets Commission (FMC) was supposed to be responsible for regulating the exchange. But FMC Chairman claims he is not responsible, as he was appointed regulator but without power! The question, raised by these columns earlier, and unanswered is, who permitted the NSEL to start operations, without first authorising a regulator to regulate its operations?
Imagine the chaos that would ensue if each regulator took a similar stance. 
What if the RBI shirked responsibility of a banking fraud and claimed it was not responsible? What if SEBI maintained that it was powerless against a company who, e.g. had raised money through an IPO and misused it? Is it any wonder, then, that individuals repose their faith in gold and not in paper assets? If the Government is genuine, it has to protect investors, else it will incur their wrath prior to a general election. 
Echoing the sentiment, the 
NSEL says it is not responsible. The top management has been sacked, which is a gesture by the promoters of the Exchange to shirk responsibility for the actions of a management they appointed.
Let’s look at other examples of shirking of responsibility.
The Finance Minister says that 
it is not responsible for the state of the economy, which is in dire straits. It is not responsible for the high fiscal deficit or for the unsustainably high current account deficit. For the latter, it is the citizen, with his penchant for gold, explained above, who is responsible! For the poor GDP growth it is the companies who are responsible, for going slow on investment, and not the Government, which has blocked several permissions required for the investment. The National Highways Authority of India has had to cancel 6 road projects because of not being able to get land acquisition clearance. But, of course, the Government is never responsible.

Consider the depreciating rupee. In 1947, when India became independent, the Rupee was equal to the US $. It is now Rs 65/$. So in 66 years, the currency has depreciated 65 times. The value of the currency is related to productivity of the country. This means that India has, since independence, sharply declined in productivity. The Congress partyhas been in power for over 75% of the time during these 65 years. But, of course, it is not responsible! 

The falling rupee will, obviously, lead to inflation. Crude oil, as well as gas, translated to INR, would be more expensive. This would mean that all petro products, petrol, diesel, LPG, kerosene, would cost more, and so will power from gas based plants. So the subsidies on the petro products and power will shoot up, and, in a bid to contain them, the Government will raise prices, with the velvet glove admonition to ‘kindly bear with us’. Corporate profits will be hit by the hike in costs, combined with the higher interest rates which are the consequence of a badly managed economy. Of course, the Government is not responsible. 
This is a 
criminal misallocation of resources. The national productivity rises when children are given a proper education and training and when laws and regulation are conducive to economic acitivity and growth. Not when subsidies are given for people to drive cars in. Annual sale of cars is under 4 m., or 0.08% of our population. The Government subsidises them instead of spending money on better education.
Only a few countries are teaching their children how to think. These include Finland, Poland, Japan, South Korea and Canada, who consistently score high on the PISA test. India scores poorly. Children become smart, and, later, productive, when they are challenged to think for themselves. In India the Government has cleared the way for all to be promoted. This does not challenge them to think. They are not as productive as they can be. 
Without productivity, the nation slips.The currency weakens. Other countries race ahead. But the Government is not responsible. 
So tyrannical are the rules and laws in India, and so subjective, that 
we destroy our own industries and encourage the brightest to go abroad. 
The sugar industry, one of the most controlled industries, is being killed. Prices for sugar cane are fixed by both the Centre and the States, both competing with each other to increase prices, never mind the viability of the sugar factories. They set high prices to get farmer votes; the cost is borne by the mills. The mills are going bankrupt. 
Bad politics drives away good economics. But the Governments are not responsible. 
Another example is that of iron ore exports. These were banned after cases of illegal iron ore mining (corruption, again, in various states like Karnataka and AP) were discovered. It is easy to ban, or destroy. It is not easy to rebuild. 
The drop in iron ore exports is a contributory factor to the Current Account Deficit. It has led to a loss of jobs. And to a fall in production of steel. Is anybody reviewing the export ban? Or is nobody responsible?
Well, companies like Tata Steel have, in partnership with a Canadian company, set up an iron ore project in Canada, and has already got permission. (South Korean Posco, after an 8 year wait in Odisha, has not). If a large FDI proposal such as Posco comes in it eases pressure on the rupee. But there is no thinking in Government. As this article in the Economist points out, economic activity is being shifted out of India.
America is anticipating an economic boom, predicated largely on a boom in output of shale gas, using a technology called hydraulic fracking. Now it is not the availability of technology that is preventing the search for shale gas in India. Technologies can be bought, or obtained, or developed. Rather, it is ownership rights. In the US, the land owner has the right to everything on, or under, his land. In India it is the Government. As a result, the prospectors for oil and gas, can deal with land owners and sign contracts for exploiting the gas below their lands. And finds a lot of it, lowering gas prices and incentivizing producers of energy dependent steel, fertilisers, metals, etc, to relocate to the US and create jobs and growth.
In India, the Government claims right to any resource under the ground of property belonging to any individual. It auctions the right to hunt for oil/gas, creates a huge mess in the pricing of it. Production drops and prices rise. 
The fall in production leads to higher imports, a higher current account deficit and a falling currency.
So, what is important to the Government? Is it the ownership of resources under individual land or is it the possibility of larger oil/gas finds and an easing of economic problems? A responsible Government would know the right answer.
There is something strange happening in the gold market, as per this blog. Export of gold from London (where it is not mined, but, rather, held as a backing for gold ETFs) has zoomed, to Switzerland. In 2012 exports were a mere 92 tonnes. In the first half of 2013 it is 797 tonnes. It appears that this gold is being melted to smaller sizes for export to Asia. Presumably most of it is smuggled into India, as import duties have been myopically hiked.
There is another interesting article titled ‘Hawala Logic’ by Anand Ranganathan, which points to the sharp fall in the rupee versus the US $ in the months preceding a general election, presumable to fetch more rupees when the $s stashed abroad are brought back. The only exception was when the BJP was in power in 2004 and the rupee appreciated.
It is possible that the Government may announce another amnesty scheme, in which those with funds stashed in Swiss banks and other offshore centres (which the Supreme Court is insisting on taking action against) can be brought back with a smallish penalty. 
The fall in the rupee more than pays for the penalty. Then the Government will take credit for the strengthening of the rupee. The stock market, where the money will be invested after the recent fall, could bounce back, and everyone will sing happy days are here again. This is just a hypothesis.
Last week the BSE-Sensex lost 79 points to close at 18,519, and the NSE-Nifty dropped 36 to end at 5,471.
International factors are ominous. As per this blog ‘What Happened in 1987’ the current rally since 2012 in US markets is driven entirely by valuations, and not by earnings. The US Fed is likely to taper off its bond buying programme from September, and is to have a new boss who may be more hawkish. On the flip side, should PC come out with a disclosure scheme that would lead to funds stashed abroad coming back, it could lead to a rally. If not for that, the economy, the currency and the stock market would continue to slide. Of course, the Government is not responsible.

Comments on this edition of Straight From The Hip: Post a comment! | Read comments

J Mulraj is a stock market columnist and observer of long-standing. His weekly column on stock markets has run for over 25 years. An MBA from IIM Calcutta, he has been a member of the BSE. He is now India Representative for Institutional Investor. A keen observer of events and trends, he writes in a lucid yet readable style and takes up issues on behalf of the individual investor. Nothing pleases him more than a reader who confesses having no interest in stock markets yet being a reader of his columns. His other interests include reading, both fiction and non fiction, bridge, snooker and chess.


RESTORE FAITH IN INDIAN ECONOMY


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this article is recd from a friend and is reproduced here. I am not claiming anything but just sharing this with you all. Special attention to my reader friends who have been guiding me on this. looking forward to your comments and suggestions
A WONDERFUL STRONG-WORDED ARTICLE FROM AJIT DAYAL OF EQUITY MASTER ON THE PRESENT STATE OF THE ECONOMY , AND THE CAUSE FOR IT- LOSS OF FAITH IN THE GOVERNMENT-. HE GOES ON TO SAY THAT THIS RESTORATION OF FAITH IS A MUST FOR A GOOD SOLUTION  (AS SUGGESTED BY SRI. GURUMURTHY ji )OF USING OUR ‘LATENT GOLD’ (GOLD HELD BY THE GENERAL INDIAN PUBLIC) TO PLEDGE WITH THE GOVT IN EXCHANGE FOR A GOLD BOND, BUY US DOLLAR WITH THE GOLD , TO SOLVE THE PROBLEM OF BOP  AND THEREBY RESTORE HEALTH OF THE ECONOMY.  A VERY GOOD THOUGHT-PROVOKING ARTICLE. 

Restore our faith, Mr. Prime Minister

FROM The Honest Truth-BY AJIT DAYAL, EQUITY MASTER.

Dear Prime Minister:

In July 1991, as the Finance Minister in the Narasimha Rao government, you gave a long interview to the Economic Times justifying on why India needed to reform from the “license raj” days to a more open economy. That interview was, in many ways, a sort of admission of failure – without you or anyone in the Congress actually saying so – of the wealth destructive policies followed by successive Congress governments particularly under Prime Minister Indira Gandhi. You and your colleagues in the then Dream Team were part of the “Cream Team” which had set India back by a few decades with myopic policies and acceptance of corruption. But, as the reforms of 1991 gripped our imagination, we were willing to forgive you for those past errors, even if they were unspoken. The one statement from you in those thousands of lines of rationale for a new way forward in the Economic Times interview which stuck in my head was “Investment is an act of faith”. The reforms of 1991 unleashed a huge outpouring of “faith” in you and in your party to lead us forward. 

Much has happened since July 1991.
From the great India Shining stories of your rivals in the BJP, to the Resurgent India and Incredible India battle cries of your own party, to the innumerable scams that have plagued India at the district, municipal, state, and federal level of government – across party lines.

India has grown from being a closed economy to one where its citizens can travel anywhere in the world and undertake an enterprise anywhere in the world.

The world, itself, has changed a lot and the monetary systems in the more open global financial markets have shown the immoral connectivity between big government and big financial firms.

Your personal life has changed, too: you have found yourself in the seat of the Prime Minister of two consecutive governments. In a seat of leadership. In a position to convert the faith we had in you – an apolitical and intelligent person – into dreams of a better India.

And, yet, as your handling of various scams and episodes over the past decade have shown you have fumbled and remained silent. You have taken the unabashed faith we had in you and converted it into a cynical distrust of you and your senior colleagues in the Administration. From being a symbol of honesty you are now seen as an 

incompetent and, possibly, dishonest man. It is 
possible that you may not have made any personal 
money in all the incidents of grand theft. However, 
an honest man retains his honesty not by being a 
silent spectator to a theft but, rather, by actively 
trying to catch the thieves he has witnessed perform
a theft. So far we have seen you look the other way and not use the full power of the government machinery to bring the suspects to justice. In fact, to add insult to our intelligence, we see your cabinet colleagues tossing counter-allegations on the talk shows that thrive on this absurd situation. Under your leadership, the movement by Anna Hazare to cleanse the corruption in India (a movement of the kind that Mahatma Gandhi, whose endorsement of Nehru gave the Congress Party its power, would be proud of) was converted into a convoluted discussion on irrelevant subtleties. 

The harshest proof that any leader can have is when a nation’s people no longer believe in their own currency. Having being the Governor of the respected Reserve Bank of India you will understand this. As a dream merchant, living off our faith, the key monetary indicators of your success (or failure) should be:

  1. Are Indians investing in IPOs and in the stock markets – an IPO is a great indicator of faith in the future and, at its extreme, borders on insanity; politely called “irrational exuberance” this unabashed faith in the ability to create something in the future out of nothing;
  2. Are Indians burying their cash in mattresses or putting it in safe bank deposits – if Indians are stashing their cash, it means they have no faith in the future and they are scared; their fear of “risk” is because their past experience has shown that they get no rewards for the risk they have taken. In fact, they have probably been slaughtered. Their rational reaction: have no faith and stay safe in bank deposits;
  3. Are Indians buying gold – a global currency – or the currency of our own nation, the Indian Rupee? Here, I will give you the benefit of a partial doubt. People buy gold either because they have no faith in their own currency or no faith in the world. The reason why Indians are buying gold is, therefore, difficult to pinpoint as a loss of faith only in you, your leadership, and your government. The hijacking of the global financial system and the ownership of policies of many central banks by a few large financial firms has resulted in a desire to own something besides a “fiat” or paper currency: gold and silver are seen as these alternatives. As an Indian, I am sure you have bought some gold for your family. As the Governor of the Reserve Bank of India, you must have been party to discussions and decisions on keeping gold as part of the RBI’s global reserve currencies. So, you know that gold is not just a “useless metal”, as branded by your Finance Minister.
The timing of this letter to you – when the Indian Rupee is taking a whack – is part of the delusional process of governments. Governments listen when hit by crises – they rarely plan.

Of the 3 indicators above, the data on the first two points (a dead IPO market and a surge in bank deposits) were apparent for any student of economics and finance looking for the first signs of trouble. For the first signs of a deflation of your historic “Investment is an act of faith” statement made in 1991. 
But your cabinet colleagues, your spokespersons on media, and the various “yes-men” in important positions of the administration were probably too busy trying to figure out the next “personal cash-extraction” scheme or “quick fix” to pretend all is fine in your kingdom. 

As long as the suited bankers of Wall Street firms kept the moolah flowing in for various equity portfolio products, bond funds, and infrastructure funds – and as long as the invites to speak at Davos and other hallowed destinations were alive – the local “lack of faith” indicators were ignored. Elections may be held in India, but lucrative post-retirement jobs are a function of visibility at these global conferences. After all, what can the poor Indian voter do? Even though the Supreme Court has recently ruled that a convicted person cannot stand for election, your party – along with the other political parties – is already finding ways to fight this absurd birth right that politicians seem to have to rape and plunder at will – and be elected to do it again. So, ignore the locals and let the foreigners cuddle you and make you feel good about India.

Well, the foreign financial firms are, well, foreign with (rightfully) no loyalty to any country. They need to earn their next commission. They earned commissions from making their clients “buy India”, now they will earn it from making their clients “sell India”. Don’t count on an invitation to be a key speaker at the next Davos. Discard your delusions. And now find a way to win back the “faith”. 

With an annual savings pool of about USD 400 billion (at today’s whacked rate of the Indian Rupee) and a gold hoard of an estimated USD 1 trillion sunk somewhere in the mattresses of most Indian homes, there is no shortage of money to get India back to its Resurgent or Shining days. 

Yes, we will shed the useless metal and we will be happy to take risks again and fund the dream merchants who launch IPOs.

If you launch a “gold-for-gold” or “gold for INR equivalent of future gold price” Gold Bond scheme with a 6.5% per annum interest as your government did in November 1962 (and collected 16.3 tonnes of gold, valued at Rs 5 crore today), just after India lost a war with China, it will fail.  In 1962 patriotism ran high and faith in the Congress government and politicians was at a peak. Today, patriotism is still strong – which is why any gold-for-gold scheme will fail: Indians love their country too much to entrust their hard earned wealth to a bunch of questionable, low-character hoodlums who hold positions of power. 

But, using the latent gold to actively drive the future growth of India – and stop this slide in the INR and loss of faith in India – is important.

So, when your Finance Minister comes to you to 

sign off on a “gold-for-gold” scheme like the one 
you had in November 1962, March 1965, and October 
1965 which he is probably designing as I write, tell 
him this: 

“Our citizens have lost the faith in us. We need to win it back. And we will do so by impounding the passports of every legislator and every political party officer and their extended family. Furthermore, we will impound the wealth of every legislator and their extended family and keep all these assets as collateral in this new gold-for-gold scheme. Their passports and their wealth will only be released when we have made good on our promise to the Indian citizen to return all their gold by the year 2020. And if we fail to return the gold, the assets of the legislators held in custody will be disposed off and – given that the average legislator has a lot of wealth – we will always have sizeable collateral to pay off the obligations to the Indian citizens. Only under such an act of faith from our side will the Indian citizen come forward to deposit their latent gold for us to convert it into USD, then sell that USD and buy INR to stem the slide of the INR.

Oh, yes, that Anna fellow: tell him we have placed the CBI under the jurisdiction of the Supreme Court and they are free to work as they see fit to root out corruption. Furthermore, here is a list of investment banks and scoundrels who have duped investors in questionable IPOs – make sure they are blacklisted from any future IPO. And add their names to the list of people whose passports and wealth is being impounded. And, finally, tell the organisers at Davos that our passports are impounded so we will restrict our travel to Indian villages. And, no, we will not eat food at a villager’s home to prove we qualify to be a Prime Minister.”

So, Mr. Prime Minister, if you still stand by your statement that “investment is an act of faith”, win back the faith and India will respond with the investment.

Otherwise, pray hard that your next visit to Washington, D.C. does not end up as an “Indian Super Power with a begging bowl in hand” cartoon in the western press.

 

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Restore our faith, Mr. Prime Minister


this article is recd from a friend and is reproduced here. I am not claiming anything but just sharing this with you all. Special attention to my reader friends who have been guiding me on this. looking forward to your comments and suggestions

A WONDERFUL STRONG-WORDED ARTICLE FROM AJIT DAYAL OF EQUITY MASTER ON THE PRESENT STATE OF THE ECONOMY , AND THE CAUSE FOR IT- LOSS OF FAITH IN THE GOVERNMENT-. HE GOES ON TO SAY THAT THIS RESTORATION OF FAITH IS A MUST FOR A GOOD SOLUTION  (AS SUGGESTED BY SRI. GURUMURTHY ji )OF USING OUR ‘LATENT GOLD’ (GOLD HELD BY THE GENERAL INDIAN PUBLIC) TO PLEDGE WITH THE GOVT IN EXCHANGE FOR A GOLD BOND, BUY US DOLLAR WITH THE GOLD , TO SOLVE THE PROBLEM OF BOP  AND THEREBY RESTORE HEALTH OF THE ECONOMY.  A VERY GOOD THOUGHT-PROVOKING ARTICLE. 

Restore our faith, Mr. Prime Minister

FROM The Honest Truth-BY AJIT DAYAL, EQUITY MASTER.

Dear Prime Minister:

In July 1991, as the Finance Minister in the Narasimha Rao government, you gave a long interview to the Economic Times justifying on why India needed to reform from the “license raj” days to a more open economy. That interview was, in many ways, a sort of admission of failure – without you or anyone in the Congress actually saying so – of the wealth destructive policies followed by successive Congress governments particularly under Prime Minister Indira Gandhi. You and your colleagues in the then Dream Team were part of the “Cream Team” which had set India back by a few decades with myopic policies and acceptance of corruption. But, as the reforms of 1991 gripped our imagination, we were willing to forgive you for those past errors, even if they were unspoken. The one statement from you in those thousands of lines of rationale for a new way forward in the Economic Times interview which stuck in my head was “Investment is an act of faith”. The reforms of 1991 unleashed a huge outpouring of “faith” in you and in your party to lead us forward. 

Much has happened since July 1991.
From the great India Shining stories of your rivals in the BJP, to the Resurgent India and Incredible India battle cries of your own party, to the innumerable scams that have plagued India at the district, municipal, state, and federal level of government – across party lines.

India has grown from being a closed economy to one where its citizens can travel anywhere in the world and undertake an enterprise anywhere in the world.

The world, itself, has changed a lot and the monetary systems in the more open global financial markets have shown the immoral connectivity between big government and big financial firms.

Your personal life has changed, too: you have found yourself in the seat of the Prime Minister of two consecutive governments. In a seat of leadership. In a position to convert the faith we had in you – an apolitical and intelligent person – into dreams of a better India.

And, yet, as your handling of various scams and episodes over the past decade have shown you have fumbled and remained silent. You have taken the unabashed faith we had in you and converted it into a cynical distrust of you and your senior colleagues in the Administration. From being a symbol of honesty you are now seen as an

incompetent and, possibly, dishonest man. It is
possible that you may not have made any personal
money in all the incidents of grand theft. However,
an honest man retains his honesty not by being a
silent spectator to a theft but, rather, by actively
trying to catch the thieves he has witnessed perform
a theft. So far we have seen you look the other way and not use the full power of the government machinery to bring the suspects to justice. In fact, to add insult to our intelligence, we see your cabinet colleagues tossing counter-allegations on the talk shows that thrive on this absurd situation. Under your leadership, the movement by Anna Hazare to cleanse the corruption in India (a movement of the kind that Mahatma Gandhi, whose endorsement of Nehru gave the Congress Party its power, would be proud of) was converted into a convoluted discussion on irrelevant subtleties. 

The harshest proof that any leader can have is when a nation’s people no longer believe in their own currency. Having being the Governor of the respected Reserve Bank of India you will understand this. As a dream merchant, living off our faith, the key monetary indicators of your success (or failure) should be:

  1. Are Indians investing in IPOs and in the stock markets – an IPO is a great indicator of faith in the future and, at its extreme, borders on insanity; politely called “irrational exuberance” this unabashed faith in the ability to create something in the future out of nothing;
  2. Are Indians burying their cash in mattresses or putting it in safe bank deposits – if Indians are stashing their cash, it means they have no faith in the future and they are scared; their fear of “risk” is because their past experience has shown that they get no rewards for the risk they have taken. In fact, they have probably been slaughtered. Their rational reaction: have no faith and stay safe in bank deposits;
  3. Are Indians buying gold – a global currency – or the currency of our own nation, the Indian Rupee? Here, I will give you the benefit of a partial doubt. People buy gold either because they have no faith in their own currency or no faith in the world. The reason why Indians are buying gold is, therefore, difficult to pinpoint as a loss of faith only in you, your leadership, and your government. The hijacking of the global financial system and the ownership of policies of many central banks by a few large financial firms has resulted in a desire to own something besides a “fiat” or paper currency: gold and silver are seen as these alternatives. As an Indian, I am sure you have bought some gold for your family. As the Governor of the Reserve Bank of India, you must have been party to discussions and decisions on keeping gold as part of the RBI’s global reserve currencies. So, you know that gold is not just a “useless metal”, as branded by your Finance Minister.
The timing of this letter to you – when the Indian Rupee is taking a whack – is part of the delusional process of governments. Governments listen when hit by crises – they rarely plan.

Of the 3 indicators above, the data on the first two points (a dead IPO market and a surge in bank deposits) were apparent for any student of economics and finance looking for the first signs of trouble. For the first signs of a deflation of your historic “Investment is an act of faith” statement made in 1991. 

But your cabinet colleagues, your spokespersons on media, and the various “yes-men” in important positions of the administration were probably too busy trying to figure out the next “personal cash-extraction” scheme or “quick fix” to pretend all is fine in your kingdom. 

As long as the suited bankers of Wall Street firms kept the moolah flowing in for various equity portfolio products, bond funds, and infrastructure funds – and as long as the invites to speak at Davos and other hallowed destinations were alive – the local “lack of faith” indicators were ignored. Elections may be held in India, but lucrative post-retirement jobs are a function of visibility at these global conferences. After all, what can the poor Indian voter do? Even though the Supreme Court has recently ruled that a convicted person cannot stand for election, your party – along with the other political parties – is already finding ways to fight this absurd birth right that politicians seem to have to rape and plunder at will – and be elected to do it again. So, ignore the locals and let the foreigners cuddle you and make you feel good about India.

Well, the foreign financial firms are, well, foreign with (rightfully) no loyalty to any country. They need to earn their next commission. They earned commissions from making their clients “buy India”, now they will earn it from making their clients “sell India”. Don’t count on an invitation to be a key speaker at the next Davos. Discard your delusions. And now find a way to win back the “faith”. 

With an annual savings pool of about USD 400 billion (at today’s whacked rate of the Indian Rupee) and a gold hoard of an estimated USD 1 trillion sunk somewhere in the mattresses of most Indian homes, there is no shortage of money to get India back to its Resurgent or Shining days. 

Yes, we will shed the useless metal and we will be happy to take risks again and fund the dream merchants who launch IPOs.

If you launch a “gold-for-gold” or “gold for INR equivalent of future gold price” Gold Bond scheme with a 6.5% per annum interest as your government did in November 1962 (and collected 16.3 tonnes of gold, valued at Rs 5 crore today), just after India lost a war with China, it will fail.  In 1962 patriotism ran high and faith in the Congress government and politicians was at a peak. Today, patriotism is still strong – which is why any gold-for-gold scheme will fail: Indians love their country too much to entrust their hard earned wealth to a bunch of questionable, low-character hoodlums who hold positions of power. 

But, using the latent gold to actively drive the future growth of India – and stop this slide in the INR and loss of faith in India – is important.

So, when your Finance Minister comes to you to

sign off on a “gold-for-gold” scheme like the one
you had in November 1962, March 1965, and October
1965 which he is probably designing as I write, tell
him this: 

“Our citizens have lost the faith in us. We need to win it back. And we will do so by impounding the passports of every legislator and every political party officer and their extended family. Furthermore, we will impound the wealth of every legislator and their extended family and keep all these assets as collateral in this new gold-for-gold scheme. Their passports and their wealth will only be released when we have made good on our promise to the Indian citizen to return all their gold by the year 2020. And if we fail to return the gold, the assets of the legislators held in custody will be disposed off and – given that the average legislator has a lot of wealth – we will always have sizeable collateral to pay off the obligations to the Indian citizens. Only under such an act of faith from our side will the Indian citizen come forward to deposit their latent gold for us to convert it into USD, then sell that USD and buy INR to stem the slide of the INR.

Oh, yes, that Anna fellow: tell him we have placed the CBI under the jurisdiction of the Supreme Court and they are free to work as they see fit to root out corruption. Furthermore, here is a list of investment banks and scoundrels who have duped investors in questionable IPOs – make sure they are blacklisted from any future IPO. And add their names to the list of people whose passports and wealth is being impounded. And, finally, tell the organisers at Davos that our passports are impounded so we will restrict our travel to Indian villages. And, no, we will not eat food at a villager’s home to prove we qualify to be a Prime Minister.”

So, Mr. Prime Minister, if you still stand by your statement that “investment is an act of faith”, win back the faith and India will respond with the investment.

Otherwise, pray hard that your next visit to Washington, D.C. does not end up as an “Indian Super Power with a begging bowl in hand” cartoon in the western press.

your dream Home on Wheels


 

Especially designed for the Arab Market!
And they’re buyin’em in droves at $3m a piece!
The moving mansion can even clean itself.
“… the vehicle has been a hit among oil-rich Arab Sheikhs – the state-of-the-art homes even wash themselves after a day’s driving through the Middle Eastern desert,” the Daily Mail reports.
But the amazing vehicle could also cater to any multi-millionaire or global superstar on the road. It’s available in white (shown here).
Fun & Info @ Keralites.net

Inside, there is ample space for for lounging.

Fun & Info @ Keralites.net

Upstairs (yes, it’s a double decker) there’s a master bedroom, complete with windows and wall art.

Fun & Info @ Keralites.net

It even has its own en-suite bathroom.

Fun & Info @ Keralites.net

There’s also a cocktail lounge area for entertaining.

Fun & Info @ Keralites.net

This is where the driver sits on the top floor.

Fun & Info @ Keralites.net

The eleMMent can expand at the touch of a button to give riders more interior space.

Fun & Info @ Keralites.net

And there’s a drop down staircase and pop up sky lounge at the top.

Fun & Info @ Keralites.net

Complete with couches and a table for guests.

Fun & Info @ Keralites.net
This is the WHITE model
Fun & Info @ Keralites.net
The world’s most expensive mobile home has gone on sale in Dubai for £2 million, or $3.1 million at today’s conversion rates, then there’s the GOLD model!
Fun & Info @ Keralites.net
The humongous, 40-foot-long element Palazzo from Austrian company Marchi Mobile is covered with gold and comes with a ton of luxury features, including a 40-inch flat screen, a pop-up cocktail lounge, a fireplace, a master bedroom, and underfloor heating.
Fun & Info @ Keralites.net
Fun & Info @ Keralites.net
Fun & Info @ Keralites.net
Fun & Info @ Keralites.net
Fun & Info @ Keralites.net
Fun & Info @ Keralites.net
Gotta spare shekel or two for a poor Arab?
No harm dreamin
Fun & Info @ Keralites.net

 

INDIAN ECONOMY FOOLS PARADISE


 

With Amartya Sen, Montek Singh Ahluwalia, Man Mohan Singh, P Chidambaram all at the helm, Indian Government is literally living in fools Paradise

 

Indian economy comes to a fullstop
 MR Venkatesh

A fairly large South-Indian group with varied business interests had invited me to a strategy session to turn it around. It was the first meeting and was to be preceded by breakfast. As we waited to be served, I perused their latest balance sheet.

 

Tale of two Democracies


  True Democracy in Action

                                                   JOGISHWAR SINGH

As a Swiss citizen born in India, I am many times brought to think about my 
experiences of the democratic systems prevalent in the two countries.

Before Indian ‘patriots’ start screaming murder at what I am going to say, I 

should point out that I am fully aware that I am talking about two different 
historical realities.

Switzerland has been independent for over 800 years while India is a newly 

created entity, now a mere 66 years old.

Switzerland has a population of only 8 million while India has the second 

highest population of any country in the world at over 1.2 billion (give or 
take a few million). And expected, in the near future, to even outstrip 
China, and become the world’s most populous. 

The trigger for this set of reflections was what I saw on the 7.30 pm eve. 
news on Swiss TV a couple of weeks ago.

The Swiss President, Mr Ueli Maurer,  was leaving on a five day state visit to 

China. The news showed him arriving  at Zürich airport in an ordinary private 
vehicle. The President got out of the  car by opening the car door himself. 
He walked to the nearby baggage trolley stand outside the airport entrance. 
He took a baggage trolley out, rolled it  towards the car, lifted his suitcase and 
travel bag himself, put these on the trolley which he then rolled towards the 
entrance like any passenger lambda like you or me. He walked up to the check 
in counter with just two other persons  walking behind him. He checked his 
luggage in for a commercial flight without  any special treatment being meted 
out to him.

For any Indians (or others) who might  find it difficult to believe what I have 
described above, you can CLICK on  the link provided hereunder, at the 
end of this article, to view a TV news  clip from the evening prime time 
news for July 16, 2013..

This clip is really worth watching.

Conditioned by my personal experiences of dealing with politicians and 

government ministers in India while serving as an IAS (Indian Administrative
Service) officer, I was so struck by the contrast between what I had experienced
in India and what I was seeing on the TV screen that I told my wife that this
represented one of the finest examples of democracy for me, certainly of the
Swiss variety. It made me proud to be the citizen of a country where the serving
President behaves like an ordinary citizen and does not feel the need to consider
special privileged treatment as his divine birthright. 

I remembered the countless times when I had seen the fury of Indian politicians, 

much below the level of the President of a country, at what they considered as
a slight because they had not been treated as demi-gods.

I am not a psychologist. I do not know whether centuries of slavery have 

generated this distorted VIP culture in India but I remember that we all did curse
the politicians there for causing so much inconvenience to the general public
by expecting, demanding and getting privileged treatment. 

Who in India, except maybe some politicians or bureaucrats, has not been 

inconvenienced by VIP visits for which miles of roads and highways, even entire neighbourhoods, are blocked off to traffic, and flights are delayed, awaiting the 
arrival of some VIP or even his/her flunkies/family members? 

Any such inconvenience would cause an uproar in Switzerland

In India, it does not generate even a whimper.

In this context, an incident from the not very distant past strongly lingers in my 

memory. A few years ago, a former IAS batch-mate of mine (1976 batch) had
visited Switzerland. 

I have noticed that Switzerland becomes a prize destination of choice for a lot 

of Indian ministers and bureaucrats during their hot summer for attending all
kinds of useless conferences which are essentially talking shops organised
by the United Nations, an organisation which is a hotbed of nepotism and
inefficiency.

This IAS officer wanted to see Switzerland, so I acted as his local tourist 

guide. 

While we were going around the Swiss federal capital, Bern, it was lunch 

time so we decided to have lunch at a restaurant very close to the Swiss
parliament building. 

As we took our seats at a table, a Swiss gentleman sitting at the next table, 

reading his newspaper while sipping his coffee, greeted us in English.
While we ordered our meal and waited, he finished reading his newspaper,
drank his coffee and called for his bill which he paid before leaving. While
going out, he again politely wished us goodbye, even saying, “I hope you
enjoy your stay in Switzerland” in English.

After he had left, I asked my visitor if he knew who the man had been. 

Obviously, my visitor did not know the answer. I informed him that we had 
just been greeted by the then serving Swiss President, Mr René Felber. 

My guest thought I was making fun of him. He would not believe me so I 
called the restaurant manager to confirm the veracity of what I had told him.
The manager duly confirmed what I had said. 

My Indian visitor was flabbergasted. He said, “How can this be possible? 

He actually paid his bill before leaving”. 

So, what struck my visitor the most had been the fact that a VIP had 

actually paid his bill! I wonder what he would say if he saw our current
President, Mr Ueli Maurer, personally loading his bags on to a baggage
trolley and wheeling it to a check-in counter just like any ordinary citizen.
His disbelief could only be countered by visual evidence on the TV!

My visitor’s reaction brought back memories of when, as a serving sub-

divisional or district level official, I had been called upon to organise lunches
and dinners for numerous collections of freeloaders travelling with ministers
or bureaucrats in India. 

I seldom remember any politician or bureaucrat actually paying or even 

offering to pay for the bonanza laid out for them. Those who did offer to pay, 
did so at the ridiculously low official daily fare of eleven rupees (today, a
mere 20 cents US) per person or something like that. 

Nobody ever asked how it had been possible to lay out a lavish meal 

comprising several dishes, accompanied by expensive alcoholic beverages,
for such a petty sum. I never found out myself who used to pay for all this
extravaganza at the end of the line. 

Like a good Indian bureaucrat, I just used to pass the buck down the line to 

my junior magistrates and revenue officials. To this day, I am unable to clarify
which poor victim — read, citizen! — who got stuck with paying for all the
freebies on offer.

While working as chief of staff to the President of the Swiss Commission for 

the Presence of Switzerland in Foreign Countries many years ago, I had the
chance of accompanying him to Strasbourg for meetings of the Council of
Europe. I also had the privilege of close interaction with several Swiss
members of parliament over an extended period of 12 to 14 months. 

The contrast to the behavioural pattern of what I had experienced in India 

with politicians was so stark that it has stayed seared in my mind even 
till today. 

I am by no means suggesting that Swiss politicians are angels, but the 

kind of behaviour that Indian politicians or bureaucrats get away with as
a matter of routine in India would torpedo their careers in Switzerland
in a jiffy.

Each such incident deepens my gratitude to Waheguru Almighty for having 

made me settle down in a country like Switzerland where the President
carries his own bags to the check-in counter. 

Where no roads are blocked for hours so that some VIP can, in the name 

of security, be whisked around in convoys of official vehicles. 

Where politicians and bureaucrats pay their bills in restaurants. 

Where grossly sycophantic behaviour is not the general and accepted 

norm. 

Where no red-light beacons or screaming sirens signal the passage of 

VIP vehicles. Indeed, the red-light-beacon culture of officialdom in India
merits a full story in itself.

I might accept India as a true democracy the day I see its President or 

Prime Minister behaving like the Swiss President before his departure
on an official visit abroad.

I don’t think I will ever see such a sight in India during my lifetime. 

You think, maybe, my grandchildren will?

To view the TV news-clip, please CLICK here.
August 15, 2013
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