Indian Economic symphony
With the Rupee depreciating by over 20% against the US dollar over a period of 15 months, Indian Corporates who had gone for Foreign Currency Convertible Bonds, will opt for redemption rather than exercising the option of conversion, for which they have to raise funds thro’ External Commercial Borrowings. According to Cricil, Nifty companies suffered a nett loss of Rs 48 billion between July-September 2011, wiping out 8% of the profits (total of Rs 572 billion) before tax. One of the highest aggregate losses, due to 3 fold rise in foreign debt of these companies in the last 8 years. In the next quarter (Oct-Dec), these losses would be around Rs 35-40 billion. High level exposure to foreign currency debt, which is calculated on the closing exchange rate (around $ 1.5 trillion)(24% of their total outstanding debt of Nifty companies). The hedging of funds will enhance the foreign exchange losses, as the derivative instruments are market to market. With rupee shedding another 31 paisa, the Rupee was Rs 53.03 against the dollar on Dec 27, 2011.
With increased cost of Credit, 13 interest rate increases in the last 1 ½ years, the Industrial growth showing wide disparity even touching negative growth in recent months, dwindling exports, increased expenditure putting pressure on funds, do we need to be cautious as the cloud overhead is a couple of shades darker.
However, the silver lining in the dark clouds was the downward journey of food inflation to 1.8%, savings rate going up, and the core sector growth steadying at 6.8%(November 2011) with infrastructure showing positive growth coal products(4.9%), cement(16.6%), power production (14.1%), IIP turning positive with 4.6% growth against 5.6% (between April-November of current year and past year).
Government, taking into consideration the pathetic economic growth has forecast 7.5% growth in the GDP in 2011-12 against the earlier anticipated 9%.
Will the New Year continue with the economic slowdown or persist with economic recession. Will the fury of recessionary trend be “v’ shaped curve or would the curve be scary elongated “u” shaped and can India stay immune from the euro zone crisis? If so, how long?
But economic growth or conditions pertaining to economic growth, creating scare, etc we need to be cautious. The way TV channels are airing expert opinions which seems to be very many, or dozens worth of truck loads, seem to shake the confidence or lead astray your optimism, then the broadcasters could do a world of good by stopping their expert commentaries. If they were so expert, why do they not invest or follow their own suggestions and make themselves richer. These TV channels who claim they are the fourth pillar of the Constitution and mirror the view of the Society should remember not to stand depending upon where they sit!
Tuesday, December 27, 2011
Monday, December 19, 2011
Does quiet flow Indian Economy?
When the whole world is fighting abnormal Economic upheaval and finding fast remedies so that it becomes equilibrium. However, in India we are seized of various issues for which undue focus has been forced upon, with the result that there is a leak in our vessel of economic woes. The governance of the country is not with the executive, but with others who see no reason to indulge in removing the litters that the economy has left behind. Alas, we are at discomfort with the reality.
Government’s dithering and hesitation to act because of coalition’s compulsions left a void in economic recovery. We are not even at the cross roads. Every planning prophecy made need alteration. Growth has gone dismal. Industrial production has trespassed to negative territory. The Rupee continues its slide with venom. Interest rates remain prohibitive. GDP growth during 11th Five Year Plan was expected to garner an 11% growth. This year’s growth if it achieves 6.5%, it would be remarkable. These show negativism in the Economy. They do not show a positive sentiment for the economic growth. But no alarm bells rung.
We should be worried, and alarmed at the state of affairs to declare a financial emergency. But we accept difference in every idea, that in every action all the political parties agree to dissent. True, we should not concern only in growth figures, but look at lackadaisical industrial and economic climate, scams vitiating pro investor policies, focus on corruption, and only on corruption, negative monetary prescriptions like interest rate increase 13 times in 18 months, hikes in petroleum products periodically making planning inconsistent, roll back on FDI on retail sectors which has sent a wrong signal to foreign investors. This has put a halt to FDI and FII and repatriation of investment which has created the dollar crisis. Rupee devaluation has hit the roof with as much as 20% slide against the greenback at a time the Dollar is vacillating. This increases input costs, import cost of capital goods, prices of petroleum products. RBI says the crisis has been caused by Euro crisis, instability of the American dollar, intense buying of dollar within the country, repatriation by FII, FDI, re-payment by Corporates of their External Credit Borrowing, higher import costs of Petroleum products.
RBI has been clearly in the wrong with its monetary policy. Raising interest rates caused narrowing in the Spread between the interest on what banks pay to its customers and what interest they get from the corporate debtors. As per RBI, In Table 6.4 of Statistics, in 2011(Nov 14, 2011), the Banks had provided additional advance to 24.11 lakhs accounts (including direct and indirect agricultural advances) @ Rs 42,414 Cr. The total advances to agriculture and indirect agriculture is estimated as 339.32 lakh accounts with a Credit of Rs 4, 14,990 Cr. This poor advance to the agricultural sector has been responsible for agricultural growth failing to achieve a modest 4% growth envisaged under the 11th Plan. The Banks should give a new boast of fuel to that leg of the priority sector.
Credit growth, best predictor of financial crisis, said an eminent Economist. Debt inflows could pick up only if differential monetary policy stance is adopted by the Central Banks in developing Economics against advance economics. Our central Bank inaction is the only action taken so far.
Coal Sector, Kundankulam Nuclear Power project, crisis at Mullaperiyar, infrastructure deficit, country’s export related problems, including inflated country’s export by $ 9 billion (April-Oct) by DGCI&S, poor investor confidence, policy paralysis, needs exemplary solutions. Fundamentals are strong, says Finance Minister. Where are our fundamentals?
Government’s dithering and hesitation to act because of coalition’s compulsions left a void in economic recovery. We are not even at the cross roads. Every planning prophecy made need alteration. Growth has gone dismal. Industrial production has trespassed to negative territory. The Rupee continues its slide with venom. Interest rates remain prohibitive. GDP growth during 11th Five Year Plan was expected to garner an 11% growth. This year’s growth if it achieves 6.5%, it would be remarkable. These show negativism in the Economy. They do not show a positive sentiment for the economic growth. But no alarm bells rung.
We should be worried, and alarmed at the state of affairs to declare a financial emergency. But we accept difference in every idea, that in every action all the political parties agree to dissent. True, we should not concern only in growth figures, but look at lackadaisical industrial and economic climate, scams vitiating pro investor policies, focus on corruption, and only on corruption, negative monetary prescriptions like interest rate increase 13 times in 18 months, hikes in petroleum products periodically making planning inconsistent, roll back on FDI on retail sectors which has sent a wrong signal to foreign investors. This has put a halt to FDI and FII and repatriation of investment which has created the dollar crisis. Rupee devaluation has hit the roof with as much as 20% slide against the greenback at a time the Dollar is vacillating. This increases input costs, import cost of capital goods, prices of petroleum products. RBI says the crisis has been caused by Euro crisis, instability of the American dollar, intense buying of dollar within the country, repatriation by FII, FDI, re-payment by Corporates of their External Credit Borrowing, higher import costs of Petroleum products.
RBI has been clearly in the wrong with its monetary policy. Raising interest rates caused narrowing in the Spread between the interest on what banks pay to its customers and what interest they get from the corporate debtors. As per RBI, In Table 6.4 of Statistics, in 2011(Nov 14, 2011), the Banks had provided additional advance to 24.11 lakhs accounts (including direct and indirect agricultural advances) @ Rs 42,414 Cr. The total advances to agriculture and indirect agriculture is estimated as 339.32 lakh accounts with a Credit of Rs 4, 14,990 Cr. This poor advance to the agricultural sector has been responsible for agricultural growth failing to achieve a modest 4% growth envisaged under the 11th Plan. The Banks should give a new boast of fuel to that leg of the priority sector.
Credit growth, best predictor of financial crisis, said an eminent Economist. Debt inflows could pick up only if differential monetary policy stance is adopted by the Central Banks in developing Economics against advance economics. Our central Bank inaction is the only action taken so far.
Coal Sector, Kundankulam Nuclear Power project, crisis at Mullaperiyar, infrastructure deficit, country’s export related problems, including inflated country’s export by $ 9 billion (April-Oct) by DGCI&S, poor investor confidence, policy paralysis, needs exemplary solutions. Fundamentals are strong, says Finance Minister. Where are our fundamentals?
Sunday, November 13, 2011
Panchavadhyam, Kerala's unique orchestra
Panchavadyam, literally means an orchestra of five instruments, is basically a temple art form that has evolved in Kerala. Of the five instruments, four -- timila, maddalam, ilathalam and idakka -- belong to the percussion category, while the fifth one, kombu, is a wind instrument.
Much like any chenda melam, panchavadyam too is characterised by a pyramid-like rhythmic structure—with a constantly increasing tempo coupled with a proportional decrease in the number of beats in cycles. However, in contrast to a chenda melam, panchavadyam uses different instruments (though ilathalam and kompu are common to both), is not related very closely to any temple ritual and, most importantly, permits a lot of personal improvisation while filling up the rhythmic beats on the timila, maddalam and idakka.
Panchavadyam bases itself on the 14-beat adanta (also spelt atanta) thaalam (taal), but amusingly sticks to the pattern of the eight-beat chempata thaalam—at least until its last parts. Its pendulum beats in the first stage total 1,792, and halves itself with each stage, making it 896 in the second, 448 in the third, 224 in the fourth and 112 in the fifth. After this, panchavadyam has a relatively loose second half with as many stages, the pendulum beats of which would now scale down to 56, 28, 14, 7 and three-and-a-half.
Whether panchavadyam is originally a feudal art is still a matter of debate among scholars, but its elaborate form in vogue today came into existence in the 1930s. It was primarily the brainchild of late maddalam artistes Venkichan Swami (Thiruvillwamala Venkateswara Iyer) and his disciple Madhava Warrier in association with late timila masters Annamanada Achutha Marar and Chengamanad Sekhara Kurup besides, subsequently, by the late idakka master Pattirath Sankara Marar. They together dug space for a stronger foundation (the Pathikaalam), thus making pachavadyam a five-stage (kaalam) concert with an intelligent mixture of both composed and improvised parts. Spanning about two hours, it has several phrases where each set of the instruments complement the others in a manner that is more like harmony in the Western orchestra than the concept of melody in India. Much like in Panchari and other kinds of chenda melam, panchavadyam too has its artistes lined up in two oval-shaped halves, facing each other. However, unlike any classical chenda melam, panchavadyam seemingly gains pace in the early stages itself, thereby tending to sound more casual and breezy right from its start, beginning after three lengthy, stylized blows on the conch (shankhu).
A panchavadyam is anchored and led by the timila artist at the centre of his band of instrumentalists, behind who line up the ilathalam players. Opposite to them stand the maddalam players in a row, and behind them are the kompu players. Idakka players, usually totaling two, stand on both sides of the aisle separating the timila and maddalam line-up. A major panchavadyam will have artistes totaling around 60.
Panchavadyam is still largely a temple art, but it has come out of its precincts to be seen performed also during non-religious occasions like cultural pagentry and according welcome to VIPs.
There are several central and northern Kerala temples that have been traditionally playing host to major pachavadyam performances. Prominent festivals featuring them are Thrissur Pooram (its renowned Panchavadyam event is known as 'Madhathil Varavu'), Kaladi Panchavadyam ulsavam, , Tripunithura Sree Poornathrayeesa Aarattu, Tripunithura Thamaramkulangara Makaravilakku, Thiruvona Mahotsavam at Sree Vamanamoorthy Temple Thrikkakara , temples in places like Chottanikkara, Odakkali, Vaikom,Ambalapuzha, Perumbavur, Pazhur, Ramamangalam, Nayathodu, Chengamanad, Chennamangalam, Irinjalakuda, Thiruvillwamala, Pallassena, Pallavoor and several renowned temples in Malabar ,Central Kerala and South Kerala.
Sopana Sangeeta Nadhamo!
Kerala is a land and abode of Temples, Festivals. The festivals attached to temples have many fanfares including many plays of musical instruments which are specific to Kerala. One such musical instrument which is used when the nada (God’s abode) is closed for pooja and the opening is often with a mangalaharti. To the beating of chanda, the God receives the arti. This is a practice followed in most of the temples in Kerala.
Sopanam literally means the place surrounding the sanctum-sanctorum of a Temple in Sanskrit. This strain of music is regarded as the sole Classical Music strain native to Kerala.
Some unique features of this strain of music. It is a Music that proceeds slowly in ascending and descending order of its raga swaras. During ragalapana (recital of raga), the artist treats every note of a raga as its nila (base) and proceeds to the immediate successor note and returns to the starting note to proceed to the next note thus continuing always returning to the starting note.
The alapana is slow and tala (beat) bound, and is set to he beats of edakka (a percussion instrument made of skin), and elathalam (small cymbals), at different speeds with various koorus (permutations) signifying different stages of its exposition. It is marked by a tremor in music, even when straight notes are used (This is true of most of the ancient systems of music.)
The singer usually selects a note as Sthaeebhavam or the overriding emotion of the raga, and uses supporting swaras to create a Bhavam or emotion, and the succeeding notes that do not support it are skipped over. This usually results in either the first half or the second half becoming prominent. It uses Margitalams (a type of beats) which were in vogue before the advent of more modern desi talams (a more modern variety of beats 35 in number).
More than fifty instruments can accompany Sopana Sangeetham of which the important ones are chenda (Percussion), edakka (Percussion), chengila (type of cymbals), ilathalam (type of cymbals), maddalam (Percussion), kuzhithalam(type of cymbals), thimila, mantuni, maram, kompu(wind), kuzhal(wind), villu, and shanku(wind).
Saturday, October 8, 2011
History is geography
History is the seven act play of the heroic description of the past, golden ages, of the splendid and worst times, eras of the Past. History is about War and Peace, rage and hate, prejudice and grievance, hope and despair, tyrants and saints, geographers and plunderers, good, pure and true events of People, of their religions, cultures, a sort of scoreboard of achievements. Karl Marx felt that ‘history itself was nothing but the activity of men pursuing their purposes’. Another thinker, Ralph Waldo Emerson was of the view that there is properly no history but only biography. Cicero characterized History as the witness that testified to the Passing of time as illuminating reality. Wright Morris felt that past was useless which explained why it was called past. Arnold Tony bee, was of the opinion that, “civilization was a movement and not a condition, a voyage, not a harbour”. According to him, of the 22 civilizations that have appeared in History, nine-teen of them collapsed when they reached the moral state the United States is in now.
Then is History is a back dated memories of the past clad in antiquity. A sense of the Past. There have been great Historians and thinkers like Arnold Tony bee, AL Basham, Thomas Carlyle, HG Wells, and others, who wrote capturing poignant expressions of empires, rulers and the ruled emphatically. Would anybody for that matter call Antony and Cleopatra as fiction because, William Shakespeare wrote their history in prose. Crossing the Rubicon is ascribed to Julius Ceaser (49 BC) even though there might have been many who would have crossed the Rubicon. Ceaser’s crossing the Rubicon is an historic event. Edward Clalleth Carr would like to call it as ‘hist oriography’.Is American Revolution, really a revolution or a War of independence where the England troops led by Cornwallis lost to George Washington in the Batlle of York. America became a Free Nation. If British historians had no problem with American Revolution, why did they call the 1857 up-rising as a ‘mutiny in India’ and not first war of independence. Is today’s Indian National Congress a continuation of the Indian National Congress of 1885 founded by A O Hume? Carlyle wrote The French Revolution: the History and Charles Dickens had adopted many incidents for His Tale of Two Cities from Thomas Carlyle’s book. Fidel Castro made a great speech, concluding it as, “History will absolve me”. The same History, will it absolve Mikhail Gorbachev, who was responsible for sweeping reforms in USSR, but his successor Boris Yelstein was a willing tool to the West as he dissolved the Confederation, and followed the Politics of Dismemberment. The British Empire were sun never set, adhered to the Politics of dismemberment of India into India and Pakistan. Bangladesh broke away from Pakistan, even though the majority of people professed Islam, because they wanted Sonar Bangla. Korea, Vietnam, Germany, which was balkanized, turned one. Palstine is still vulnerable.
Did Liberty, Equality and Fraternity, the theme of the French Revolution, create stability in France after the Revolution. It required a Napoleon, who proclaimed himself as the Emperor to restore authority. Oliver Cromwell (1653-1658) ruled England as Lord Protector at the Head of the Commonwealth after beheading King Charles I in 1649. But was he not a greater autocrat than Charles?
Winston Churchill became the powerful Prime Minister of England on the resignation of Neville Chamberlin in Sept 1939. He was one of the greatest prime ministers Westminster had ever seen. Did he not lose elections to Labour enabling Clement Attlee to become Prime minister? Why did people loose faith in Churchill? Franklin Roosevelt was the President of America. But when the Second World War came to an end, it was a beaming Harry S Truman who represented America as its President. It has been said that Allies had powerful leaders like Churchill, Roosevelt, Stalin, and many others while Axis only had an Adolph Hitler. After War, Stalin who was a powerful ruler fell into infamy. Gandhiji was one of the greatest apostle of Peace yet he did not win a Nobel for Peace.
There were many who felt that China should not be awakened. Let the sleeping giant sleep. When Nixon and primarily Kissinger made the voyage to the country of Dragon, the country woke up. The Sleeping Giant woke up.
If Shakespeare’s work Ceaser and Cleopatra was the centre piece of history of the Romans in the remote days of the Christian era, likewise, Poet’s description makes up for many events re-constructed with the help of novels. Tolstoy’s War and Peace, Nehru’s Discovery of India and Glimpses of World History, whether they were plots from History or created plots for History, only researchers can pin point. Socrates was sentenced to death for asking provoking questions in pursuit of truth during the Golden age of Athens ruled by Periciles. Alexander in the remote time of History knew geography to invade India. Adi Sankara in the 8th century AD set up monasteries in different parts of India when travel was by Road, and he died when he was 32. Layfatte is said to have participated in both the French and American Revolutions. There is a Layfette square in New York. Cornwallis is said to have fought the Battle of York in New York against George Washington (defeated) and against Tipu Sultan in the Battle of Mangalore in 1799(won).
Samuel Johnson correctly stated that, there are in every age, new errors to be rectified and new prejudices to be opposed. Even though History may be history of men and matters, it shows precisely a different era, in different surroundings. History repeats!
Then is History is a back dated memories of the past clad in antiquity. A sense of the Past. There have been great Historians and thinkers like Arnold Tony bee, AL Basham, Thomas Carlyle, HG Wells, and others, who wrote capturing poignant expressions of empires, rulers and the ruled emphatically. Would anybody for that matter call Antony and Cleopatra as fiction because, William Shakespeare wrote their history in prose. Crossing the Rubicon is ascribed to Julius Ceaser (49 BC) even though there might have been many who would have crossed the Rubicon. Ceaser’s crossing the Rubicon is an historic event. Edward Clalleth Carr would like to call it as ‘hist oriography’.Is American Revolution, really a revolution or a War of independence where the England troops led by Cornwallis lost to George Washington in the Batlle of York. America became a Free Nation. If British historians had no problem with American Revolution, why did they call the 1857 up-rising as a ‘mutiny in India’ and not first war of independence. Is today’s Indian National Congress a continuation of the Indian National Congress of 1885 founded by A O Hume? Carlyle wrote The French Revolution: the History and Charles Dickens had adopted many incidents for His Tale of Two Cities from Thomas Carlyle’s book. Fidel Castro made a great speech, concluding it as, “History will absolve me”. The same History, will it absolve Mikhail Gorbachev, who was responsible for sweeping reforms in USSR, but his successor Boris Yelstein was a willing tool to the West as he dissolved the Confederation, and followed the Politics of Dismemberment. The British Empire were sun never set, adhered to the Politics of dismemberment of India into India and Pakistan. Bangladesh broke away from Pakistan, even though the majority of people professed Islam, because they wanted Sonar Bangla. Korea, Vietnam, Germany, which was balkanized, turned one. Palstine is still vulnerable.
Did Liberty, Equality and Fraternity, the theme of the French Revolution, create stability in France after the Revolution. It required a Napoleon, who proclaimed himself as the Emperor to restore authority. Oliver Cromwell (1653-1658) ruled England as Lord Protector at the Head of the Commonwealth after beheading King Charles I in 1649. But was he not a greater autocrat than Charles?
Winston Churchill became the powerful Prime Minister of England on the resignation of Neville Chamberlin in Sept 1939. He was one of the greatest prime ministers Westminster had ever seen. Did he not lose elections to Labour enabling Clement Attlee to become Prime minister? Why did people loose faith in Churchill? Franklin Roosevelt was the President of America. But when the Second World War came to an end, it was a beaming Harry S Truman who represented America as its President. It has been said that Allies had powerful leaders like Churchill, Roosevelt, Stalin, and many others while Axis only had an Adolph Hitler. After War, Stalin who was a powerful ruler fell into infamy. Gandhiji was one of the greatest apostle of Peace yet he did not win a Nobel for Peace.
There were many who felt that China should not be awakened. Let the sleeping giant sleep. When Nixon and primarily Kissinger made the voyage to the country of Dragon, the country woke up. The Sleeping Giant woke up.
If Shakespeare’s work Ceaser and Cleopatra was the centre piece of history of the Romans in the remote days of the Christian era, likewise, Poet’s description makes up for many events re-constructed with the help of novels. Tolstoy’s War and Peace, Nehru’s Discovery of India and Glimpses of World History, whether they were plots from History or created plots for History, only researchers can pin point. Socrates was sentenced to death for asking provoking questions in pursuit of truth during the Golden age of Athens ruled by Periciles. Alexander in the remote time of History knew geography to invade India. Adi Sankara in the 8th century AD set up monasteries in different parts of India when travel was by Road, and he died when he was 32. Layfatte is said to have participated in both the French and American Revolutions. There is a Layfette square in New York. Cornwallis is said to have fought the Battle of York in New York against George Washington (defeated) and against Tipu Sultan in the Battle of Mangalore in 1799(won).
Samuel Johnson correctly stated that, there are in every age, new errors to be rectified and new prejudices to be opposed. Even though History may be history of men and matters, it shows precisely a different era, in different surroundings. History repeats!
Thursday, September 22, 2011
A tale of the Nineties-American Businessmen & Policymakers
A sense of the Past with American Policymakers and Businessmen- A tale of the Nineties
America was a distinct dream for many. The land of opportunities. Opportunities to grab. Formidable chances to come up in Life. A country of chance and luck. Many wanted to go, many succeeded and many had a try. In the 90s of the 2nd millennium, you had people in queue, up the whole night, Monday to Friday, standing in rain or shine, just to get a Visa in front of the high walled structure which had a wicked gate near the Gemini square, opposite to Safire threatre, where Malayalam and English pictures were screened. The scene is in front of the Visa gate at the Madras consulate. The splendor of opportunities in America’s wonderland dawned with the Computer software industry’s growth in the late 90s. Narayanamurthy, Aziz Premji, and many czars of the software companies were unknown entities. Bangalore was still a pensioners paradise. The crowd of people, with papers and certificates, were mostly from Andhra and Karnataka. A few from Kerala, and a substantial of the Mylapore boys were there, standing in queue, and taking a token and waiting to be called. I was visibly moved and surprised at man’s decision to suffer if there were odds for him to go to Paradise. That is man, wanting to create opportunity. If not here, anywhere where he can. Every year, the Americam embassy announces one lakh H1 visas have been allotted to India. Every year, a few more thousands will be added. The Consul General is happy so long as he sees the long winding queues outside his visa gate. Be damned with what papers print about America, and what Government’s perception to American opinion is. B1, F1 visas are well known. There are business visas for the Business people. The validity of the visa is Ten Years.
Today, the scene is somewhat sober. There is chair seating inside the visa counters. You are given token on First-cum-first based number in the queue, two decades ago. Now, computers have taken over. You can ask for the appointment date. You do not have to stay in a queue. There are water cans to provide you water. Fans to cool the heat of Chennai which has hot, hotter and hottest climate.
I had opportunity to express my views and concerns to the American officers on behalf of the intending prospective visitors as Regional Secretary of Indo American Chamber of Commerce. I accosted the visitors from America involved in Policy making, understanding India, trying to make MoUs with their counterpart Indian Businessmen, etc. There were Political scholars, men of letters, academicians, politicians, Senators,etc.
Mr Ron Brown , Commerce Secretary under President Clinton, came to Bangalore by a special Boeing carrying planeload of American businessmen who wanted to do business with Indian Companies. The Fortuine 500 companies were there. They were in Bangalore for 2 days in 1992, and the trip and local itenarary was organized by our Chamber and I had a distinct role in it. It was sad to read subsequently that Mr Ron Brown died in an air crash when his plane and entourage perished. He was a jolly good man who wanted to boost Indo American dialogue. In the next year, a plane load of Chief Executive Officers of well known American companies came by a special place hosted by the Overseas Private Investment Corporation, America. They did talk and made business with their inter counterparts. Mr William Weld, who was to be Republican Presidential candidate against Clinton’s 2nd term, and Governor of Massachusetts, brought all his charm to the garden city of India. Ms O’Leary, Energy Secretary, brought a team of people, and a business delegation of Insurance players came to India to discuss opening up of the Insurance Sector in India. It was after a tough competition, Ford set up their motor car manufacturing unit in Tamilnadu. Our Chamber had played a very important part in the deal. Today, when you hear American companies or bi-lateral trade between India and US of A were worth several billions of Dollars. As the Head of the Regional body of Indo American Chamber of Commerce, we had played a very important role, have taken the delegations to almost all the southern India state capitals. As the trade developed, more and more people started planning their higher education in America.
Many of the prospective candidates who stood in the huge queue in the 90s, used to come and narrate their experience. They always explained that they were disappointed, for they could not understand the English spoken by the American officer, he asked about the Toffel marks, or questioned about their decision to undertake higher education in America and so on. Confidence levels of the student fraternity were very low, and they went inside the Consulate with an inferior complex built anxiety. I used to tell most of them, that it was necessary to be positive, and honest. Every body cannot know everything; there are areas of subjects we know nothing about. But why not admit it, which our boys seldom do. Today, many of them, who would have met me, are sitting in envious positions, top desks of Fortune 500 companies, Multi nationals.
I had a queer experience about a top diplomat who came from America, and I was to accompany him to Trivandrum, Bangalore and Hyderabad. While in Bangalore, we had planned a trip to Mysore for this top diplomatic person. We went to the outskirts of Srirangapatna, and stood at a place where I showed them the River cauveri in spate. Just across the Road, there was a closed barricaded compound wall where a Board stood which read: Tipu died here. I explained to them the little of History, Tipu’s reign coming to an end with the Battle of Mangalore in 1799, with Tipu Sultan’s death at the hands of British soldiers. The diplomat was well aware of the British intrigues as he was a Master in History from some well-known University of America. There was a big Board showing Lord Cornwallis receiving two of Tipu Sultan’s kids as hostages at the end of the War. I asked my famous visitor and the American officer who had accompanied him from Delhi, as to whether they could draw a parallel of Lord Cornwallis, the then Governor General with American History. They could not. Cornwallis was the Commander of the British forces who was defeated by George Washington at the Battle of York in the American War of Independence. Lord Cornwallis, who was deputed to India, won a big battle which saw a large part of South India coming under the British reign. He was hero in India according to British history scholars. With a heavy laughter, the American diplomats shook my head. Back dated knowledge- tales of History, forgotten History.
I left the Chamber in 1996, after a decade of association, and I had the privilege of meeting some of the top most people in American judiciary, State office, Commerce wing, academics, and businessmen, Politicians, who were always cheerful and most cordial to all of us. On their return, they have written mails to thank us as well.
America was a distinct dream for many. The land of opportunities. Opportunities to grab. Formidable chances to come up in Life. A country of chance and luck. Many wanted to go, many succeeded and many had a try. In the 90s of the 2nd millennium, you had people in queue, up the whole night, Monday to Friday, standing in rain or shine, just to get a Visa in front of the high walled structure which had a wicked gate near the Gemini square, opposite to Safire threatre, where Malayalam and English pictures were screened. The scene is in front of the Visa gate at the Madras consulate. The splendor of opportunities in America’s wonderland dawned with the Computer software industry’s growth in the late 90s. Narayanamurthy, Aziz Premji, and many czars of the software companies were unknown entities. Bangalore was still a pensioners paradise. The crowd of people, with papers and certificates, were mostly from Andhra and Karnataka. A few from Kerala, and a substantial of the Mylapore boys were there, standing in queue, and taking a token and waiting to be called. I was visibly moved and surprised at man’s decision to suffer if there were odds for him to go to Paradise. That is man, wanting to create opportunity. If not here, anywhere where he can. Every year, the Americam embassy announces one lakh H1 visas have been allotted to India. Every year, a few more thousands will be added. The Consul General is happy so long as he sees the long winding queues outside his visa gate. Be damned with what papers print about America, and what Government’s perception to American opinion is. B1, F1 visas are well known. There are business visas for the Business people. The validity of the visa is Ten Years.
Today, the scene is somewhat sober. There is chair seating inside the visa counters. You are given token on First-cum-first based number in the queue, two decades ago. Now, computers have taken over. You can ask for the appointment date. You do not have to stay in a queue. There are water cans to provide you water. Fans to cool the heat of Chennai which has hot, hotter and hottest climate.
I had opportunity to express my views and concerns to the American officers on behalf of the intending prospective visitors as Regional Secretary of Indo American Chamber of Commerce. I accosted the visitors from America involved in Policy making, understanding India, trying to make MoUs with their counterpart Indian Businessmen, etc. There were Political scholars, men of letters, academicians, politicians, Senators,etc.
Mr Ron Brown , Commerce Secretary under President Clinton, came to Bangalore by a special Boeing carrying planeload of American businessmen who wanted to do business with Indian Companies. The Fortuine 500 companies were there. They were in Bangalore for 2 days in 1992, and the trip and local itenarary was organized by our Chamber and I had a distinct role in it. It was sad to read subsequently that Mr Ron Brown died in an air crash when his plane and entourage perished. He was a jolly good man who wanted to boost Indo American dialogue. In the next year, a plane load of Chief Executive Officers of well known American companies came by a special place hosted by the Overseas Private Investment Corporation, America. They did talk and made business with their inter counterparts. Mr William Weld, who was to be Republican Presidential candidate against Clinton’s 2nd term, and Governor of Massachusetts, brought all his charm to the garden city of India. Ms O’Leary, Energy Secretary, brought a team of people, and a business delegation of Insurance players came to India to discuss opening up of the Insurance Sector in India. It was after a tough competition, Ford set up their motor car manufacturing unit in Tamilnadu. Our Chamber had played a very important part in the deal. Today, when you hear American companies or bi-lateral trade between India and US of A were worth several billions of Dollars. As the Head of the Regional body of Indo American Chamber of Commerce, we had played a very important role, have taken the delegations to almost all the southern India state capitals. As the trade developed, more and more people started planning their higher education in America.
Many of the prospective candidates who stood in the huge queue in the 90s, used to come and narrate their experience. They always explained that they were disappointed, for they could not understand the English spoken by the American officer, he asked about the Toffel marks, or questioned about their decision to undertake higher education in America and so on. Confidence levels of the student fraternity were very low, and they went inside the Consulate with an inferior complex built anxiety. I used to tell most of them, that it was necessary to be positive, and honest. Every body cannot know everything; there are areas of subjects we know nothing about. But why not admit it, which our boys seldom do. Today, many of them, who would have met me, are sitting in envious positions, top desks of Fortune 500 companies, Multi nationals.
I had a queer experience about a top diplomat who came from America, and I was to accompany him to Trivandrum, Bangalore and Hyderabad. While in Bangalore, we had planned a trip to Mysore for this top diplomatic person. We went to the outskirts of Srirangapatna, and stood at a place where I showed them the River cauveri in spate. Just across the Road, there was a closed barricaded compound wall where a Board stood which read: Tipu died here. I explained to them the little of History, Tipu’s reign coming to an end with the Battle of Mangalore in 1799, with Tipu Sultan’s death at the hands of British soldiers. The diplomat was well aware of the British intrigues as he was a Master in History from some well-known University of America. There was a big Board showing Lord Cornwallis receiving two of Tipu Sultan’s kids as hostages at the end of the War. I asked my famous visitor and the American officer who had accompanied him from Delhi, as to whether they could draw a parallel of Lord Cornwallis, the then Governor General with American History. They could not. Cornwallis was the Commander of the British forces who was defeated by George Washington at the Battle of York in the American War of Independence. Lord Cornwallis, who was deputed to India, won a big battle which saw a large part of South India coming under the British reign. He was hero in India according to British history scholars. With a heavy laughter, the American diplomats shook my head. Back dated knowledge- tales of History, forgotten History.
I left the Chamber in 1996, after a decade of association, and I had the privilege of meeting some of the top most people in American judiciary, State office, Commerce wing, academics, and businessmen, Politicians, who were always cheerful and most cordial to all of us. On their return, they have written mails to thank us as well.
Sunday, August 21, 2011
Place Nation's interest over pride!
Sincere and idealistic Involvement in nation’s glory
A political storm is brewing over the Country, may be rightly, on the massive Corruption issue. The cancer of Corruption has permeated into ever branch of governance-Political class, bureaucracy, Judiciary.
Lack of statesmanship and absence of a political leader of stature has driven the country to the brink of people’s lack of confidence on the governance.
Let me not go cynical. All that has been happening since August 16th have been well documented and repeated, for a further repetition here.
Government constituted a drafting Committee consisting of nominees of Shri Anna Hazare. It was not truly representative in character. To set up a drafting Committee with one set of civil society members was a Himalayan blunder. A Committee of 21 persons who have knowledge, ability, made has made the drafting Committee representative in character. This was not done. So government’s new experiment to frame laws with a few people whoever they may be, has resulted in distortions. Secondly, Government ignored the political class on the whole. This was an inept handling of a situation when Government should have tried for consensus.
The present draft of the Civil Society headed by Shri Anna Hazaraji is the draft written and compiled by the Bushan father and son. They have bias, as they are fighting many cases including Public Interest Litigations. Hence the clauses introduced by them will definitely show their subjective outlook on the Law as they see it.
The arrest of Shri Anna Hazareji as ‘Preventive detention’ boomeranged on the Government. The miscalculation or wrong mathematics of equating Shri Anna Hazare with Swami Ramdas took the wind out of the sails when the public rallied around Shri Anna Hazare. This miscalculation made Government loose the battle. All agitations grow out of a strong mind set of one or two intellectuals in the movement who articulate the strategy and act as inventors of the theory of agitation and its issues. This was not rightly assessed by the Government.
Coming back to the Jan Lokpal Bill, the gamble took by Anna Hazare paid off, because people wanted to express their dissatisfaction over massive corruption and the government’s inability to tackle it by citing Coalition dharma, inability to dismiss the Government because of Bommai Case, Political vote bank, partisan support of corrupt people by the ruling masters, etc. Indian democracy has become so corrupt and criminalized that it was endangering the constitutional systems. When all was unwell in the economy, salaries and perquisites of parliamentarians were raised. Political Reform should have been ushered so that people would have felt safe and secure against the economic ills affecting the country as world economy was reeling down.
The anger of people across the Country was so instantaneous and spontaneous that when Hazareji was arrested, there was large outpouring of support which has led to the present stalemate. After all this venture and adventure, Government wants to initiate dialogue with Anna Hazare Team. But, to negotiate with a stubborn Anna Hazare who is supported by the mass of people all over the Country and abroad, would not be easy for the Government given the weakness will of the present day Government.
One Scam (2G) amounted to the Foreign Reserves that RBI had placed in American Treasury Bonds, equivalent to Rs 1, 81 lakh Cr. The magnitude of the scam is mind boggling. CWG, items were never purchased and never available physically were paid for. There are more than 100 bills pending for payment. How did the PM increase the CWG budget many many times than was intended? What was the provocation and reason for this enlargement of the budget? Was it not undemocratic? . Was it Right of discretion? Why blame Comptroller and Auditor General for doing his duty of pointing this out?
Government, did they have sincerity or common agenda when they engaged the civil society in the drafting process of the Lok Pal Bill. From day one, they were hitting out at each other like cats and dogs. The contentious issues between Government representatives on the Lokpal drafting Committee narrowed down to two- one, bringing the Prime minister under the ambit of the Lokpal Bill and secondly, bringing the judiciary under Lokpal.
India has a written Constitution. The preamble of the Constitution says, “We, the people of India, have given unto ourselves this Constitution”. The present Indian Constitution was drafted by the Indian people, and the Constitution was given by the People to the Country. So this Constitution expresses the supremacy of the People over every thing. Fundamental Rights are absolute Rights enshrined in Chapter III of the Constitution. They are absolute Rights which cannot be revoked by Government at all under exceptional circumstances narrated in Article 356. (Keshavananda Bharati Vs State of Kerala, Golaknath Case). The Supreme Court has made it clear that the Basic structure of the Constitution cannot be amended, altered. If a Hon’ble Minister believes that Fundamental Rights are not absolute Rights, then he need to go in for a Refresher Course.
Constitution has the theory of separation of Powers. There are three Chambers which are given descriptive Powers. The Judiciary namely the Supreme Court has the power of original jurisdiction, appellate jurisdiction, absorbed jurisdiction, suo moto Power to initiate a case against anybody, transfer the jurisdiction of the case, initiate contempt proceedings against it, etc. The Power of the Judiciary to adjudicate cases between Union and States, States and States, etc are infallible rights expressed in ambiguous terms. Now, the Jan Lokpal Bill prescribes that the Judiciary be brought under its ambit by legislation in Parliament. Can the Legislature, including Indian parliament and Union of States take away the power of Courts, which form part and parcel of the Theory of Separation of Powers by the legislative power conferred on Parliament by the Constitution? Parliament by enactment, gets into prohibited theory of basic structure, and any bill if passed will the struck off ultra vires by the Courts/Court. The Jan Lokpal Bill has been empowered to punish the corrupt (Prosecution) on the basis of its own investigation, but where is the provision for appeal against the finding of the Jan Lokpal Act. If a Judge is convicted by Jan Lokpal Act, does he have a redress to go to Supreme Court. No. This is fundamentally against the ‘Rule of Law’ dictum and Parliament has no power to power of Punishment of anybody without his right to appeal to the Supreme Court which will decide the bonafide or malafide of the Lokpal Punishment. Judiciary has a right to accept an appeal under the Indian Constitution against any punishment awarded, any decision made by anybody including the President of India, and this Right of Appeal, cannot be taken away by the legislature by moving a Bill when passed becomes an Act.
Second, the inclusion of the Prime Minister in the Bill. He is the executive Head of the State. The Courts have decided in a Judgement (Supreme Court), that there shall always be a Council of Ministers to advice the President. President can go by the advice rendered by the Council of Ministers headed by the Prime Minister. The only condition that is imposed by the Constitution is that he shall command the majority of the House. Theory of convenience does not make a Law defective which has been enacted under the advice of a Prime Minister who is adjudged guilty of election misconduct(adduced Supreme Court in Indira Gandhi Vs Raj Narain)(Justice V R Krishna Iyer who gave the judgement and Mr Shanti Bushan who argued for Raj Narayanan is one of the authors of the Jan lokpal Bill are alive and can be contacted) There is no provision in the Constitution which makes the Prime Minister holding office to be punished until the end of his term; and he enjoys immunity
Moderates and Radicals in the Civil Society are right in demanding a tough Lokpal Bill. Government need to lend its ears to the voice of the People. Government, has one pretext or the other postponed introducing the Bill in Parliament and it can flaunt no excuse to delay its introduction and promise a time bound action plan to pass the Bill and make it an enactment.
A stubborn Government which is not willing to listen to the People and claim sovereignty under the Constitution is doing a great harm to democracy. Any willful undermining of the People of this Country will not bear well for the future of the Nation. Government should come to agreement with Shri Anna Hazare and his team, and make an enabling environment for the smooth passage of the Lokpal Bill.
A political storm is brewing over the Country, may be rightly, on the massive Corruption issue. The cancer of Corruption has permeated into ever branch of governance-Political class, bureaucracy, Judiciary.
Lack of statesmanship and absence of a political leader of stature has driven the country to the brink of people’s lack of confidence on the governance.
Let me not go cynical. All that has been happening since August 16th have been well documented and repeated, for a further repetition here.
Government constituted a drafting Committee consisting of nominees of Shri Anna Hazare. It was not truly representative in character. To set up a drafting Committee with one set of civil society members was a Himalayan blunder. A Committee of 21 persons who have knowledge, ability, made has made the drafting Committee representative in character. This was not done. So government’s new experiment to frame laws with a few people whoever they may be, has resulted in distortions. Secondly, Government ignored the political class on the whole. This was an inept handling of a situation when Government should have tried for consensus.
The present draft of the Civil Society headed by Shri Anna Hazaraji is the draft written and compiled by the Bushan father and son. They have bias, as they are fighting many cases including Public Interest Litigations. Hence the clauses introduced by them will definitely show their subjective outlook on the Law as they see it.
The arrest of Shri Anna Hazareji as ‘Preventive detention’ boomeranged on the Government. The miscalculation or wrong mathematics of equating Shri Anna Hazare with Swami Ramdas took the wind out of the sails when the public rallied around Shri Anna Hazare. This miscalculation made Government loose the battle. All agitations grow out of a strong mind set of one or two intellectuals in the movement who articulate the strategy and act as inventors of the theory of agitation and its issues. This was not rightly assessed by the Government.
Coming back to the Jan Lokpal Bill, the gamble took by Anna Hazare paid off, because people wanted to express their dissatisfaction over massive corruption and the government’s inability to tackle it by citing Coalition dharma, inability to dismiss the Government because of Bommai Case, Political vote bank, partisan support of corrupt people by the ruling masters, etc. Indian democracy has become so corrupt and criminalized that it was endangering the constitutional systems. When all was unwell in the economy, salaries and perquisites of parliamentarians were raised. Political Reform should have been ushered so that people would have felt safe and secure against the economic ills affecting the country as world economy was reeling down.
The anger of people across the Country was so instantaneous and spontaneous that when Hazareji was arrested, there was large outpouring of support which has led to the present stalemate. After all this venture and adventure, Government wants to initiate dialogue with Anna Hazare Team. But, to negotiate with a stubborn Anna Hazare who is supported by the mass of people all over the Country and abroad, would not be easy for the Government given the weakness will of the present day Government.
One Scam (2G) amounted to the Foreign Reserves that RBI had placed in American Treasury Bonds, equivalent to Rs 1, 81 lakh Cr. The magnitude of the scam is mind boggling. CWG, items were never purchased and never available physically were paid for. There are more than 100 bills pending for payment. How did the PM increase the CWG budget many many times than was intended? What was the provocation and reason for this enlargement of the budget? Was it not undemocratic? . Was it Right of discretion? Why blame Comptroller and Auditor General for doing his duty of pointing this out?
Government, did they have sincerity or common agenda when they engaged the civil society in the drafting process of the Lok Pal Bill. From day one, they were hitting out at each other like cats and dogs. The contentious issues between Government representatives on the Lokpal drafting Committee narrowed down to two- one, bringing the Prime minister under the ambit of the Lokpal Bill and secondly, bringing the judiciary under Lokpal.
India has a written Constitution. The preamble of the Constitution says, “We, the people of India, have given unto ourselves this Constitution”. The present Indian Constitution was drafted by the Indian people, and the Constitution was given by the People to the Country. So this Constitution expresses the supremacy of the People over every thing. Fundamental Rights are absolute Rights enshrined in Chapter III of the Constitution. They are absolute Rights which cannot be revoked by Government at all under exceptional circumstances narrated in Article 356. (Keshavananda Bharati Vs State of Kerala, Golaknath Case). The Supreme Court has made it clear that the Basic structure of the Constitution cannot be amended, altered. If a Hon’ble Minister believes that Fundamental Rights are not absolute Rights, then he need to go in for a Refresher Course.
Constitution has the theory of separation of Powers. There are three Chambers which are given descriptive Powers. The Judiciary namely the Supreme Court has the power of original jurisdiction, appellate jurisdiction, absorbed jurisdiction, suo moto Power to initiate a case against anybody, transfer the jurisdiction of the case, initiate contempt proceedings against it, etc. The Power of the Judiciary to adjudicate cases between Union and States, States and States, etc are infallible rights expressed in ambiguous terms. Now, the Jan Lokpal Bill prescribes that the Judiciary be brought under its ambit by legislation in Parliament. Can the Legislature, including Indian parliament and Union of States take away the power of Courts, which form part and parcel of the Theory of Separation of Powers by the legislative power conferred on Parliament by the Constitution? Parliament by enactment, gets into prohibited theory of basic structure, and any bill if passed will the struck off ultra vires by the Courts/Court. The Jan Lokpal Bill has been empowered to punish the corrupt (Prosecution) on the basis of its own investigation, but where is the provision for appeal against the finding of the Jan Lokpal Act. If a Judge is convicted by Jan Lokpal Act, does he have a redress to go to Supreme Court. No. This is fundamentally against the ‘Rule of Law’ dictum and Parliament has no power to power of Punishment of anybody without his right to appeal to the Supreme Court which will decide the bonafide or malafide of the Lokpal Punishment. Judiciary has a right to accept an appeal under the Indian Constitution against any punishment awarded, any decision made by anybody including the President of India, and this Right of Appeal, cannot be taken away by the legislature by moving a Bill when passed becomes an Act.
Second, the inclusion of the Prime Minister in the Bill. He is the executive Head of the State. The Courts have decided in a Judgement (Supreme Court), that there shall always be a Council of Ministers to advice the President. President can go by the advice rendered by the Council of Ministers headed by the Prime Minister. The only condition that is imposed by the Constitution is that he shall command the majority of the House. Theory of convenience does not make a Law defective which has been enacted under the advice of a Prime Minister who is adjudged guilty of election misconduct(adduced Supreme Court in Indira Gandhi Vs Raj Narain)(Justice V R Krishna Iyer who gave the judgement and Mr Shanti Bushan who argued for Raj Narayanan is one of the authors of the Jan lokpal Bill are alive and can be contacted) There is no provision in the Constitution which makes the Prime Minister holding office to be punished until the end of his term; and he enjoys immunity
Moderates and Radicals in the Civil Society are right in demanding a tough Lokpal Bill. Government need to lend its ears to the voice of the People. Government, has one pretext or the other postponed introducing the Bill in Parliament and it can flaunt no excuse to delay its introduction and promise a time bound action plan to pass the Bill and make it an enactment.
A stubborn Government which is not willing to listen to the People and claim sovereignty under the Constitution is doing a great harm to democracy. Any willful undermining of the People of this Country will not bear well for the future of the Nation. Government should come to agreement with Shri Anna Hazare and his team, and make an enabling environment for the smooth passage of the Lokpal Bill.
Monday, July 4, 2011
What we throw, is money spinner in China
Kangayam, semi arid and rain fed, is a vibrant town with agriculturists, and the lowest amount of Below Poverty line people compared to the national and state average at 3% of the people of around 50,000 people, was once upon a time, capital of Kongunadu for many centuries. Though it could not vie with Vijayanagara nor the Travancore, Kochi and Malabar Kingdom, it has People who are the most hospitable and generous in the Kongu hinterland. It is besieged by Coimbatore, [the Manchester of India for its cotton and textile mills, capital of pumps and wet grinders, motors] Tirupur, India’s hosiery centre accounting for 56% of the country’s hosiery exports, Karur, a handloom & crafty bed linings centre and Erode, a foremost agricultural and textile post. But more formidable is Kangayam’s contribution to Coir Pith and Coconut and Copra Oil, activated charcoal etc. It is one of the formidable Coconut hubs in southern India.
Kangayam instead of being traditional and obsolete have ventured into new technologies in many spheres. From 10,000 mt valued Rs 10 Cr in 2002, the Town produces around 1, 40,000 mt of Coir Pith garnering around Rs 200 Cr in foreign exchange. Coconut shell (Raw) export was 1986 mt valued Rs 3.04 Cr in 2009-10, while Coconut shell charcoal was 15,523 mt valued Rs 29.15 Cr. This town has a number of artisans who burn the Coconut shell in an unconventional way, which produces charcoal. This activity has subsided because of the ban order clamped by the Pollution Control Board officials, who have been threatening the manufacturers that they are letting Carbon di- oxide into the air, causing air Pollution.
In order to create a mechanism for up-gradation of technology and minimizing the carbon content air, the following procedure has been thought about. The project activity involves construction of a mechanized charcoaling plant for converting coconut shells to charcoal using gasification cum pyrolysis process and utilization of the energy of released gases to generate electricity. The charcoal production and the electricity generation capacity would increase with the implementation of each phase. The project activity would be using approximately 77,442 tonnes of coconut shells per year to produce approximately 26,400 tonnes of charcoal and subsequently generate 5.8 MW. This product can take off with the support of assistance to States for infrastructure development for Exports provided by the Commerce Ministry, GoI to the Tamilnadu Government, with Government of Tamilnadu putting 25% as their contribution so that around 1,000 people who are in the heating mechanically of coconut shell can find eventful employment.
What would be prodced would be Activated charcoal It looks like a fine black powder. Activated charcoal is believed to have a large adsorptive capacity, making it able to bind with unwanted substances and toxins in the gut.
Activated charcoal may help to lower cholesterol by interfering with enterohepatic circulation of bile acids. It has been found to lower total cholesterol and LDL cholesterol.
Activated charcoal is a supplement that is sold over-the-counter to treat several conditions including excess gas, high cholesterol, and preventing hangovers. Medicinal activated charcoal is also used in emergency medicine to treat certain types of poisoning. Activated charcoal is designed for medicinal use, and is not the same as the charcoal that is used in products that remove pet odors and in fish tank filters. Activated charcoal works to treat poisoning because it binds with some poisonous agents and helps them pass through the body without being absorbed. When activated charcoal is prescribed by a physician in this way it may be taken in several doses. However, as a supplement, activated charcoal has not been shown to be effective in treating other conditions such as excess gas, cholesterol or hangovers. The side effects from activated charcoal include constipation and black stools. Activated charcoal may also prevent some drugs from being absorbed by the body; therefore it should not be taken at the same time as other medications.. Use of coconut shell charcoal and coconut shell powder in the domestic and industrial sector greatly contributes to the environment. There is not much green gas emission while heating compared to coal. Activated carbon pellets, granular activated carbon, carbon, impregnated and activated carbon fibers usage should be limited to the extend without harming the environment
In addition to that, Coconut shell is the most sought after for up-gradation of low toughness, poor crack resistance in epoxy resin polymer, which is a thermosetting polymer used in aerospace, automobiles, sailboats, bicycles, motorcycles, structural engineering applications, main rotor blades, radio controlled helicopters, Think Pad laptops,etc. Coconut shell is organic in nature. The shell has high abrasion resistant properties and long standing in use. Small macro pores structure which renders it more effective for absorption of gas, vapour and for the colour, oxidants, impurities and odour of the compounds. These polymers are used in filling in holes, hair cracks, in natural stones, granites, etc. Coconut shell- natural fillers (coconut shell filler) for the development of new composites because of their high strength and modular properties. Composites of high strength coconut filler can be used in broad range of application as building material, marine cordages. Tensile and flexural properties of epoxy composites based on Coconut shell filler particles are less costly. Presently the demand for epoxy resin polymer us 3.03 million tonnes having a value of US $ 15 billion. China holds 30% of this export market. Epoxy resin(thermosetting polymer) has wide ranging of applications including fiber reinforced plastic materials and general purpose adhesives, coatings-power coatings for washers, driers, corrosion protection of Oil and Gas distilling, portable oil pipeline, concrete reinforcing (corrosion resistance). Coconut shell is presently used to improve the properties of expxy polymer. It has a huge off-take.
Big Corporate companies like 3M, Aditya Birla, DOW, Sumitomo, Dow Epoxy, and UPPC GmbH are manufacturing epoxy resin polymer. So also around 184 Indian companies in the medium sector.
Coconut shell may look ordinary but the value addition that can be given to make it for high end applications is something that the department of Industries and other organizations with Agriculture need to think. When Schemes like MNREGA with Crores of Rupees as corpus is conceived to provide financial inclusion amongst the weak, sustaining schemes which will make them really inclusive is not conceived. People are ready to work, but they do not have the environment to work. What we throw, or discard, can be a money spinner, assisting our people in the rural areas. Will Government take note of it?
..
Kangayam instead of being traditional and obsolete have ventured into new technologies in many spheres. From 10,000 mt valued Rs 10 Cr in 2002, the Town produces around 1, 40,000 mt of Coir Pith garnering around Rs 200 Cr in foreign exchange. Coconut shell (Raw) export was 1986 mt valued Rs 3.04 Cr in 2009-10, while Coconut shell charcoal was 15,523 mt valued Rs 29.15 Cr. This town has a number of artisans who burn the Coconut shell in an unconventional way, which produces charcoal. This activity has subsided because of the ban order clamped by the Pollution Control Board officials, who have been threatening the manufacturers that they are letting Carbon di- oxide into the air, causing air Pollution.
In order to create a mechanism for up-gradation of technology and minimizing the carbon content air, the following procedure has been thought about. The project activity involves construction of a mechanized charcoaling plant for converting coconut shells to charcoal using gasification cum pyrolysis process and utilization of the energy of released gases to generate electricity. The charcoal production and the electricity generation capacity would increase with the implementation of each phase. The project activity would be using approximately 77,442 tonnes of coconut shells per year to produce approximately 26,400 tonnes of charcoal and subsequently generate 5.8 MW. This product can take off with the support of assistance to States for infrastructure development for Exports provided by the Commerce Ministry, GoI to the Tamilnadu Government, with Government of Tamilnadu putting 25% as their contribution so that around 1,000 people who are in the heating mechanically of coconut shell can find eventful employment.
What would be prodced would be Activated charcoal It looks like a fine black powder. Activated charcoal is believed to have a large adsorptive capacity, making it able to bind with unwanted substances and toxins in the gut.
Activated charcoal may help to lower cholesterol by interfering with enterohepatic circulation of bile acids. It has been found to lower total cholesterol and LDL cholesterol.
Activated charcoal is a supplement that is sold over-the-counter to treat several conditions including excess gas, high cholesterol, and preventing hangovers. Medicinal activated charcoal is also used in emergency medicine to treat certain types of poisoning. Activated charcoal is designed for medicinal use, and is not the same as the charcoal that is used in products that remove pet odors and in fish tank filters. Activated charcoal works to treat poisoning because it binds with some poisonous agents and helps them pass through the body without being absorbed. When activated charcoal is prescribed by a physician in this way it may be taken in several doses. However, as a supplement, activated charcoal has not been shown to be effective in treating other conditions such as excess gas, cholesterol or hangovers. The side effects from activated charcoal include constipation and black stools. Activated charcoal may also prevent some drugs from being absorbed by the body; therefore it should not be taken at the same time as other medications.. Use of coconut shell charcoal and coconut shell powder in the domestic and industrial sector greatly contributes to the environment. There is not much green gas emission while heating compared to coal. Activated carbon pellets, granular activated carbon, carbon, impregnated and activated carbon fibers usage should be limited to the extend without harming the environment
In addition to that, Coconut shell is the most sought after for up-gradation of low toughness, poor crack resistance in epoxy resin polymer, which is a thermosetting polymer used in aerospace, automobiles, sailboats, bicycles, motorcycles, structural engineering applications, main rotor blades, radio controlled helicopters, Think Pad laptops,etc. Coconut shell is organic in nature. The shell has high abrasion resistant properties and long standing in use. Small macro pores structure which renders it more effective for absorption of gas, vapour and for the colour, oxidants, impurities and odour of the compounds. These polymers are used in filling in holes, hair cracks, in natural stones, granites, etc. Coconut shell- natural fillers (coconut shell filler) for the development of new composites because of their high strength and modular properties. Composites of high strength coconut filler can be used in broad range of application as building material, marine cordages. Tensile and flexural properties of epoxy composites based on Coconut shell filler particles are less costly. Presently the demand for epoxy resin polymer us 3.03 million tonnes having a value of US $ 15 billion. China holds 30% of this export market. Epoxy resin(thermosetting polymer) has wide ranging of applications including fiber reinforced plastic materials and general purpose adhesives, coatings-power coatings for washers, driers, corrosion protection of Oil and Gas distilling, portable oil pipeline, concrete reinforcing (corrosion resistance). Coconut shell is presently used to improve the properties of expxy polymer. It has a huge off-take.
Big Corporate companies like 3M, Aditya Birla, DOW, Sumitomo, Dow Epoxy, and UPPC GmbH are manufacturing epoxy resin polymer. So also around 184 Indian companies in the medium sector.
Coconut shell may look ordinary but the value addition that can be given to make it for high end applications is something that the department of Industries and other organizations with Agriculture need to think. When Schemes like MNREGA with Crores of Rupees as corpus is conceived to provide financial inclusion amongst the weak, sustaining schemes which will make them really inclusive is not conceived. People are ready to work, but they do not have the environment to work. What we throw, or discard, can be a money spinner, assisting our people in the rural areas. Will Government take note of it?
..
Saturday, July 2, 2011
KERALA's economic buffet
If the World economy sneezes, Kerala will catch pneumonia. Because, bulk of the States economy with 3.4 cr people depend upon the remittance of Kerala’s labourers who make their income with the sweat of their brow. The Free trade Agreement signed between India and ASEAN has made Kerala’s trade literarily free, as the state is vulnerable to the dumping indiscrimination of the products from ASEAN countries which are Kerala’s domestic products which made Kerala’s GDP growth touch 6.89% in 2008-9 against the country’s 6.7%. The import with its knitty gritty of tariff declared levies would leave the state products unsold as they would be priced higher than the imported stuff. Coconut Oil is no more consumed even by Keralities while indiscriminate Palm oil is reaching the state at cheap prices due to government’s subsidizing of the Product to low value edible oil. Coconuts are growing in prices which have made its place redundant as it would also be exposed to exodus import. Secondly, the Policy of Mr Obama, who has sleeved up his shirt which would indicate that the subsidies provided by the Federal Government would be withdrawn, with India’s largest bi-lateral partner suffering from economic crisis ceasing the imports. Also employment opportunities in the Heaven’s Gateway that is America would come down drastically. These new turn in the world crisis will hit Kerala like a tsunami, an economic tsunami. Once upon a time, Kerala’s per capita income stood at Rs 14,629 highest in South India (in 2007). Now crisis looms large on the economy of Kerala.
Kerala faces a cloudy economic forecast with State Domestic Product touching Rs 1, 57,144 Cr (2009-10). But 75% of the proceeds are accounted for paying interest, salaries and pensions, with only 24.17% available for spending by the state towards Schemes benefiting the People. Presently, state’s debt is put at Rs 78,329 Cr (2010-11).
When the state is reeling under such dire straits, Lord Padmanabha to whom the King of Travancore Marthanda Varma pledged his country is proving to be rich. That Raja after Raja surrendered their offering in valuables, made the Temple, one among the richest in the world. When an inventory of the various treasure groves were taken, it was found, after 80% of the search, the Lord had around Rs 60,000 Cr in gold, silver, other precious stones. A treasure trove of gold, diamonds and precious stones —was unearthed from an ante-chamber to one of the six vaults in Sree Padmanabhaswamy Temple.
More than 1200 ‘Sarappalli' golden chains (some sporting ‘navaratnas'), three golden crowns, numerous golden staffs, golden plates, a chain of golden coins of 1732 vintage, diamonds, including Belgium diamonds, and precious stones, including ‘cat's eye', rubies and emeralds, were among the articles found inside vault A located on the southern side of the ‘Nalambalam' inside the Chandanamandapam. One gold chain was found to weigh more than three kg. Hundreds of kilos of coins issued by the government of erstwhile Travancore (raasi) and those from the time of Napoleon and the British East India Company were among the articles that were found. The Travancore-era coins include more than 14 kg of half-sovereigns believed to have been offered during ‘thulabharams' made over the centuries. More than 70 kg of Venetian coins were also reportedly found along with many kilos of East India company coins minted at (then) Madras. Coins of Australian origin and those from Mysore were among the inventories.
A temple treasure grove, yielding more than Rs 60,000 Crores in precious jewels, coins, gold, silver, platinum, rare antiquary, show the sincerity and honesty of the Rulers of Travancore of pre-independent India. There are 2 other valuts to be opened. Today rulers, that too in a democracy who are accountable to the People behave as if they are accountablable to nobody. Scams, looting, plundering, of Public money in the name of democracy have made the People compare the pre-independent India with the Republican Rule through a Constitution, we have given to ourselves.
Kerala faces a cloudy economic forecast with State Domestic Product touching Rs 1, 57,144 Cr (2009-10). But 75% of the proceeds are accounted for paying interest, salaries and pensions, with only 24.17% available for spending by the state towards Schemes benefiting the People. Presently, state’s debt is put at Rs 78,329 Cr (2010-11).
When the state is reeling under such dire straits, Lord Padmanabha to whom the King of Travancore Marthanda Varma pledged his country is proving to be rich. That Raja after Raja surrendered their offering in valuables, made the Temple, one among the richest in the world. When an inventory of the various treasure groves were taken, it was found, after 80% of the search, the Lord had around Rs 60,000 Cr in gold, silver, other precious stones. A treasure trove of gold, diamonds and precious stones —was unearthed from an ante-chamber to one of the six vaults in Sree Padmanabhaswamy Temple.
More than 1200 ‘Sarappalli' golden chains (some sporting ‘navaratnas'), three golden crowns, numerous golden staffs, golden plates, a chain of golden coins of 1732 vintage, diamonds, including Belgium diamonds, and precious stones, including ‘cat's eye', rubies and emeralds, were among the articles found inside vault A located on the southern side of the ‘Nalambalam' inside the Chandanamandapam. One gold chain was found to weigh more than three kg. Hundreds of kilos of coins issued by the government of erstwhile Travancore (raasi) and those from the time of Napoleon and the British East India Company were among the articles that were found. The Travancore-era coins include more than 14 kg of half-sovereigns believed to have been offered during ‘thulabharams' made over the centuries. More than 70 kg of Venetian coins were also reportedly found along with many kilos of East India company coins minted at (then) Madras. Coins of Australian origin and those from Mysore were among the inventories.
A temple treasure grove, yielding more than Rs 60,000 Crores in precious jewels, coins, gold, silver, platinum, rare antiquary, show the sincerity and honesty of the Rulers of Travancore of pre-independent India. There are 2 other valuts to be opened. Today rulers, that too in a democracy who are accountable to the People behave as if they are accountablable to nobody. Scams, looting, plundering, of Public money in the name of democracy have made the People compare the pre-independent India with the Republican Rule through a Constitution, we have given to ourselves.
Wednesday, June 1, 2011
Unbiased view- IIT/IIM World Class?
Union Environment Minister Jairam Ramesh's comment about the IITs and IIMs about the quality of Research or faculty needs introspection. That there is a ready market for such students in the employment market with six digit salaries, but under what benchmark we have determined that these instructions are world class. Was there a comparison done with world class institutions or the basis on which they are classified as “world class”. The GoI can claim it as “world class” but let them the parameters analyzed to term these institutions as “world class”. They may be the best institutions in our Country. Who has given them the ‘world class tag?
Compared to the other institutions, where does the world class superiority of these institutions lay? It is true that the Indian middle class with affordability tag could easily get into one of the IITs or IIMs. Globalization brought in its wake a number of opportunities, and the biggest fall-out of its reach was on the middle class who made the maximum advantage out of it via these institutions which were the channels to get into big league. Bank and Government/Insurance jobs which were the aspirations of the upper middle class ; but come globalization, the spur of elite jobs in the Private sector which vied with one another to grab a prospective employee from one or the other IIT/IIM, made these young men/women troop to these institutions. An IIT or IIM became a status symbol. It was a platform for a good job with high pay. Now this demand for a seat in the IIT/IIM has necessitated competition for getting seats, not because these institutions are world class but the preference the students get at the end of his curriculum for a posting in a Multi-national Company posited in India. .
Many people have obtained degrees and are talented, but fail to make an impression on these who are in the recruiting desk of the Private sector companies, because they do not take the glazed certificates of IIT/IIM. Is the “World class” status conferred, or was it arrived at against strict parameters of comparison with world class institutions
The world class tag comes into discussion, because we assume that these institutions are world class, and the best education is available in these institutes and no where else in our country. Other educational institutions pale into insignificance, when these IITs/IIMs are called “Centres of Excellence”. But where is the excellence, except the students of IIT/IIM get preference for Private sector top jobs not because they had world class education but selected because the employers assume IIT/IIM are world class. It is in this context that we have to take the status of our institutions, and try to make them unique. Vishwabharati University became something special because its founder was Rabindranatha Tagore. Similarly Indian Institute of Science owes its popularity due to Dr.CV Raman connection.
The problems of these “world class” institutions like IIT/IIM are similar to the one faced by other educational institutions in the private/public sector. Quality of Research, availability of opportunity for research, faculty shortage, overload on teaching responsibilities, the strength of the batches which are unwieldy, government interference, etc. World Class institutions need functional and financial autonomy to chart their course!
We need innovation, course-correction intechnological development, up-gradation of technology, slowly diminishing the obsolete technology, cheap technology, clean technology. What is India's contribution to Reserch and Development and Crores of Rupees spent on Reserch institutions. IIT/IIM's should produce students with scientific temper, and innovation centric. That is what growing India wants. Not speeches. Papers.
There have been good set of professors in the various instructions in India. They may have vast knowledge, and the field on which they teach. They may also be great teachers. They may be easily approachable. They may have analytical power. But where does Indian teaching stand in front of foreign educationalists who are well known, who have trained a number of illustrious people who have won world class credentials. There may be individual brilliance- one Kalpana Chawla, A R Rahaman, Sabeer Bhatia, Indra Nooyi, Amratya Sen, Mittal, Sam Pitroda, Dr Ramakrishnan, Nikki Randhawa Haley (Louisiana Governor) etc ( a sample and not exhaustive) that took them to surfeit of glory. Dirubhai Ambani did not study in any world class institutions. Individual abilities transform them to greatness, which happens in every spheres of life.
In India, debates are made controversial so that discussions on some issues which needs wide ranging comments, and suggestions are nipped in the bud. Debates need to be non partisan, meaningful. India had an institutional legacy left behind by Britishers. We had shut our doors for almost half-a century from the rest of the world. We do not have any clue regarding what is world-class in the modern global context. We export goods calling them world-class when the goods are meant for the lowest retail shops. Compare our exports of US $ 245 billion with China’s $ 3.6 trillion. Higher education, specialized education, with world-class systems and environment flourished much before they did in India. In Indian context mastery in teaching is considered to be part and parcel of much achieved institutions while cutting- edge research, innovation is given growing importance for Schools of Excellence in the developed world.
We need to analyze the issue objectively, without prejudice, and analytically so as to make these institutions “world-class” , instead of criticizing those people who make a discussion point as being political and biased.
Compared to the other institutions, where does the world class superiority of these institutions lay? It is true that the Indian middle class with affordability tag could easily get into one of the IITs or IIMs. Globalization brought in its wake a number of opportunities, and the biggest fall-out of its reach was on the middle class who made the maximum advantage out of it via these institutions which were the channels to get into big league. Bank and Government/Insurance jobs which were the aspirations of the upper middle class ; but come globalization, the spur of elite jobs in the Private sector which vied with one another to grab a prospective employee from one or the other IIT/IIM, made these young men/women troop to these institutions. An IIT or IIM became a status symbol. It was a platform for a good job with high pay. Now this demand for a seat in the IIT/IIM has necessitated competition for getting seats, not because these institutions are world class but the preference the students get at the end of his curriculum for a posting in a Multi-national Company posited in India. .
Many people have obtained degrees and are talented, but fail to make an impression on these who are in the recruiting desk of the Private sector companies, because they do not take the glazed certificates of IIT/IIM. Is the “World class” status conferred, or was it arrived at against strict parameters of comparison with world class institutions
The world class tag comes into discussion, because we assume that these institutions are world class, and the best education is available in these institutes and no where else in our country. Other educational institutions pale into insignificance, when these IITs/IIMs are called “Centres of Excellence”. But where is the excellence, except the students of IIT/IIM get preference for Private sector top jobs not because they had world class education but selected because the employers assume IIT/IIM are world class. It is in this context that we have to take the status of our institutions, and try to make them unique. Vishwabharati University became something special because its founder was Rabindranatha Tagore. Similarly Indian Institute of Science owes its popularity due to Dr.CV Raman connection.
The problems of these “world class” institutions like IIT/IIM are similar to the one faced by other educational institutions in the private/public sector. Quality of Research, availability of opportunity for research, faculty shortage, overload on teaching responsibilities, the strength of the batches which are unwieldy, government interference, etc. World Class institutions need functional and financial autonomy to chart their course!
We need innovation, course-correction intechnological development, up-gradation of technology, slowly diminishing the obsolete technology, cheap technology, clean technology. What is India's contribution to Reserch and Development and Crores of Rupees spent on Reserch institutions. IIT/IIM's should produce students with scientific temper, and innovation centric. That is what growing India wants. Not speeches. Papers.
There have been good set of professors in the various instructions in India. They may have vast knowledge, and the field on which they teach. They may also be great teachers. They may be easily approachable. They may have analytical power. But where does Indian teaching stand in front of foreign educationalists who are well known, who have trained a number of illustrious people who have won world class credentials. There may be individual brilliance- one Kalpana Chawla, A R Rahaman, Sabeer Bhatia, Indra Nooyi, Amratya Sen, Mittal, Sam Pitroda, Dr Ramakrishnan, Nikki Randhawa Haley (Louisiana Governor) etc ( a sample and not exhaustive) that took them to surfeit of glory. Dirubhai Ambani did not study in any world class institutions. Individual abilities transform them to greatness, which happens in every spheres of life.
In India, debates are made controversial so that discussions on some issues which needs wide ranging comments, and suggestions are nipped in the bud. Debates need to be non partisan, meaningful. India had an institutional legacy left behind by Britishers. We had shut our doors for almost half-a century from the rest of the world. We do not have any clue regarding what is world-class in the modern global context. We export goods calling them world-class when the goods are meant for the lowest retail shops. Compare our exports of US $ 245 billion with China’s $ 3.6 trillion. Higher education, specialized education, with world-class systems and environment flourished much before they did in India. In Indian context mastery in teaching is considered to be part and parcel of much achieved institutions while cutting- edge research, innovation is given growing importance for Schools of Excellence in the developed world.
We need to analyze the issue objectively, without prejudice, and analytically so as to make these institutions “world-class” , instead of criticizing those people who make a discussion point as being political and biased.
Dodgy debt and dozing Oil Company executives?
The Oil Companies are at their tricks once again. From today, the Petrol prices will increase by Rs 1.35 paise to offset the loss of Rs 1048 Cr due to selling Petrol below Cost. Only on the 15th May, these Oil Cos raised the price of Petrol by Rs 5/- per litre. The explanation from the Government: We have nothing to do. It is the oil Companies who have raised the price to bridge the shortfall in the price of crde and cost of refining. Oil Companies aver that high prices of crude and huge debt burden of oil companies makes it imperative to raise prices though they would like to shed a tear for the common man reeling from price rise especially the inflation factor. We, the am admi, must thank these Oil Cos for their consideration.
But let us just look at these statistics, which have been released as advertisements by the Oil Companies.
1. Indian Oil Corporation says that it has made a Profit of Rs 7445.48 Cr, and the actual growth in sales in the III & IV Quarter was 138.9%. Sale proceeds stood at Rs 3,28,744.27 Cr (the highest sale rate in its history). They have also declared Rs 9.50 per share which is considered to be a handsome dividend.
2. Bharat Petroleum is showing a net profit of Rs 1,63,496 lakhs (2010-11) against Rs 1,63,236 lakhs during 31-3-2010 . Total income was recorded as Rs 48,311,46 Cr against Rs 40,07,155 Cr ( 205% growth). The company is said to have spent for refining crude at US $ 4.47 per barrel (previous year $ 2.97 per barrel). In the previous year, dollar value was low, and Rupee value was high. This year also, the Rupee value maintained the same position. Hence when all the prices are shown in Rupees, Bharat Petroleum shows the refining prices in Dollars.
3. ONGC has placed a full page advertisement with the heading, "The way to bigger achievement lies in the path less travelled". Hurray! Income of ONGC stood at Rs 121,929,29 Cr (2010-11) against Rs 103,438.85 Cr (2009-10), with a net profit of Rs 22,455.93 Cr against Rs 19,403.53 Cr last year. Aditional shares have been allotted and a dividend equivalent to Rs 642 Cr and special interim dividend of Rs 6844 Cr paid on Dec 2010. The total dividend paid alone accounted for Rs 7486 Cr!!
4. Oil India Ltd records a profit of Rs 2883.73 Cr.2010-11 Government had provided a subsidy of Rs 40,912 Cr. 1 litre of petrol has a Central excise of Rs 8/- and Customs duty.
Oil Cos are pretending dodge debts and dozing returns? Does the level of economic output justify its spending and lifestyle of its employees (of Oil Companies?) The dividends are all transferred to GoI which never figure in the accounts. Government gets all. Plunder?
But let us just look at these statistics, which have been released as advertisements by the Oil Companies.
1. Indian Oil Corporation says that it has made a Profit of Rs 7445.48 Cr, and the actual growth in sales in the III & IV Quarter was 138.9%. Sale proceeds stood at Rs 3,28,744.27 Cr (the highest sale rate in its history). They have also declared Rs 9.50 per share which is considered to be a handsome dividend.
2. Bharat Petroleum is showing a net profit of Rs 1,63,496 lakhs (2010-11) against Rs 1,63,236 lakhs during 31-3-2010 . Total income was recorded as Rs 48,311,46 Cr against Rs 40,07,155 Cr ( 205% growth). The company is said to have spent for refining crude at US $ 4.47 per barrel (previous year $ 2.97 per barrel). In the previous year, dollar value was low, and Rupee value was high. This year also, the Rupee value maintained the same position. Hence when all the prices are shown in Rupees, Bharat Petroleum shows the refining prices in Dollars.
3. ONGC has placed a full page advertisement with the heading, "The way to bigger achievement lies in the path less travelled". Hurray! Income of ONGC stood at Rs 121,929,29 Cr (2010-11) against Rs 103,438.85 Cr (2009-10), with a net profit of Rs 22,455.93 Cr against Rs 19,403.53 Cr last year. Aditional shares have been allotted and a dividend equivalent to Rs 642 Cr and special interim dividend of Rs 6844 Cr paid on Dec 2010. The total dividend paid alone accounted for Rs 7486 Cr!!
4. Oil India Ltd records a profit of Rs 2883.73 Cr.2010-11 Government had provided a subsidy of Rs 40,912 Cr. 1 litre of petrol has a Central excise of Rs 8/- and Customs duty.
Oil Cos are pretending dodge debts and dozing returns? Does the level of economic output justify its spending and lifestyle of its employees (of Oil Companies?) The dividends are all transferred to GoI which never figure in the accounts. Government gets all. Plunder?
Monday, February 21, 2011
Political kitchenette barbs?
The other day, Prime Minister Dr Manmohan Singh did meet the Editors of various Channels. Starting from alphabet (a) Aaj Tak to (s) Sun TV, the venerable Editors who are the present King Arther and his Knights in their shining armour sat on a rectangle table for an inter-action. Each one of the Editors, was given one question to ask, but many made up their skill by posing compounded questions and putting supplementary. This crowd made of the top electronic media, represented the cream of the Fourth Estate.
As usual, contemporary topic prevailed. One or the other question related to this. All of you know that 2 G was the mother of all scams until ISRO-Devos scam surfaced. It was pegged at 2 lakh Crore. 2 G scam CWG was regaled to the back burner. But different agencies used different barometers to weigh the scams. Raja and Kapil said no revenue loss! Did they mean, we got no revenue hence no loss? CAG estimated the loss at Rs 1.76 lakh Crore. They worked their figures based on the sale of Spectrum in 3 G, and its equivalent frequency cost to 2 G. CBI estimated it at Rs 50,000 Cr.
While one varied with the other figure, and each differed widely on the basis of methodology, a question was put to the Prime Minister of India, during the Press meeting by an elite journalist. Prime Minister did not equate losses in the 2 G scam with the subsidies to the Poor. He asked the audience, if auctions don’t take place, how do you estimate or calculate a loss? We have a budget which gives subsidy for food, Rs 80,000 Cr/annum some people may say that these food grains should be sold at market place. Because it is not sold at market place, but given as subsidy, do you say it is a revenue loss? Queried the PM. That he used the comparison of Food subsidies made political parties, newspapers, and raise brouhaha. The Prime Minister compares the loot of a scandal to the Poor man’s bread. The PM used the comparison of food subsidies to drive home the point of allusion to facts and nothing more.
Suppose, you say that Revenue from Liquor is a major Central Excise levy. Government advertises people not to drink, and highlights the problems caused by drinking. Cigarette is revenue. Government is taking all actions to curb its use. Would you say that the Government is justified in popularizing that “Cigarette smoking is injurious to health”. There are people who barb that Corruption is in-separable in India, yet they are the first people who pay something to get something done. I am not for a moment suggesting that people like Raja or x should be left scot free. Law should take its own course. But while saying that he did not condone Corruption, which he said will be dealt with most seriously, comparison between an activity at one point of time and another activity at another point of time will not yield a realistic picture. Circumstance makes it so. When Arun Shourie dealt with the Policy of FCFS on Spectrum allocation, our country’s use of mobile phones was negligible. There was no demand. No mobile phones. When Reliance institutionalized its availability, telephony became very popular, and today, Spectrum price has gone up abnormally. Price rules the supply, and incessant demand chases supply. Every body knows that fancied Chinese goods won’t last. Yet, people buy it for fancy prices. Commerce Ministry which should have slapped dumping is sitting quiet. Our Prime Minister is a clean man, sitting between the ‘devil and the deep sea’. Let us not harass him.
As usual, contemporary topic prevailed. One or the other question related to this. All of you know that 2 G was the mother of all scams until ISRO-Devos scam surfaced. It was pegged at 2 lakh Crore. 2 G scam CWG was regaled to the back burner. But different agencies used different barometers to weigh the scams. Raja and Kapil said no revenue loss! Did they mean, we got no revenue hence no loss? CAG estimated the loss at Rs 1.76 lakh Crore. They worked their figures based on the sale of Spectrum in 3 G, and its equivalent frequency cost to 2 G. CBI estimated it at Rs 50,000 Cr.
While one varied with the other figure, and each differed widely on the basis of methodology, a question was put to the Prime Minister of India, during the Press meeting by an elite journalist. Prime Minister did not equate losses in the 2 G scam with the subsidies to the Poor. He asked the audience, if auctions don’t take place, how do you estimate or calculate a loss? We have a budget which gives subsidy for food, Rs 80,000 Cr/annum some people may say that these food grains should be sold at market place. Because it is not sold at market place, but given as subsidy, do you say it is a revenue loss? Queried the PM. That he used the comparison of Food subsidies made political parties, newspapers, and raise brouhaha. The Prime Minister compares the loot of a scandal to the Poor man’s bread. The PM used the comparison of food subsidies to drive home the point of allusion to facts and nothing more.
Suppose, you say that Revenue from Liquor is a major Central Excise levy. Government advertises people not to drink, and highlights the problems caused by drinking. Cigarette is revenue. Government is taking all actions to curb its use. Would you say that the Government is justified in popularizing that “Cigarette smoking is injurious to health”. There are people who barb that Corruption is in-separable in India, yet they are the first people who pay something to get something done. I am not for a moment suggesting that people like Raja or x should be left scot free. Law should take its own course. But while saying that he did not condone Corruption, which he said will be dealt with most seriously, comparison between an activity at one point of time and another activity at another point of time will not yield a realistic picture. Circumstance makes it so. When Arun Shourie dealt with the Policy of FCFS on Spectrum allocation, our country’s use of mobile phones was negligible. There was no demand. No mobile phones. When Reliance institutionalized its availability, telephony became very popular, and today, Spectrum price has gone up abnormally. Price rules the supply, and incessant demand chases supply. Every body knows that fancied Chinese goods won’t last. Yet, people buy it for fancy prices. Commerce Ministry which should have slapped dumping is sitting quiet. Our Prime Minister is a clean man, sitting between the ‘devil and the deep sea’. Let us not harass him.
Monday, February 14, 2011
Obituary: Small Coins
Obituary: Small Coins!
Is Coins that were exchanged at times of continuous inflation, lost their purchasing Power? We present a Coin, and in exchange we get something in return. In major stores, franchise stores thanks to the glare of Globalization sweeping Indian economy, like never before, the bill amount in paisa is rounded off. If the bill comes to less than 50 paisa, it is omitted, and if it is more than 50 paise, it is rounded off to the next Rupee. Nobody complains.
The other day, an Old man came to my door seeking some charity. Today, nobody will accept anything less than Rs 10/- for any kind of philanthropy. The so-called Civic Society, if they are collecting money for a good cause or no cause, they would like atleast Rs 50/-. Rs 100/- would be better.
The aluminum coins of 5 paise, ten paise and twenty paise will disappear and will become a non legal tender from June 30, 2011. Metal coins of 10 paise and 25 paise also will cease to hold value. They will go to some Numismatist who may keep it as a Vestige.
There was Re 1/- issued by the Secretary, Finance, Govt of India. Today, it has disappeared. Rs 2/- was also in circulation. It is rarely seen. The difference between Rs 1/- and Rs 2/- was the first variety was issued by GoI, while Rs 2/- was issued by the Reserve Bank of India against security back-up.
With the obituary to these small Coins, 50 paise coin will be the smallest coin that will have validity. All the other smaller denomination coins will lose its parity in terms of purchasing power.
Whenever we take about the value of Rupee, we say that the Rupee is equivalent to 20 paise or 30 paise etc. Now, with these small coins going to antiquity, the value of the Rupee against its purchasing power will be compared to what. Today Rs 45/- is equal to a Dollar. They say that Rupee has become stronger to the Dollar. When the Rupee: Dollar parity goes down in Rupees, we say Dollar has improved in its value. Exporters will cry hoarse, if more Rupees will be equal to a $. Some time ago, there was strong rumours that Rs 1,000/- will be demonetized. This would facilitate money coming into the Open.
Bank Chiefs always say there is enough liquidity in the system. Only sometimes, there is movement of money. If you go to semi urban banks, they will say that they have no currency to pay. Some ATMs will not give you money, but will say, Transaction closed. And the money you pressed will be debited to your account. You will have harrowing time to get a reversal of the wrong debit. No body would say for want of a 10 paise coin, one’s battle was lost.
Good bye small paises!!!
Friday, February 4, 2011
Practice what is preached?
In UPA’s second avatar, our well learned Economic Professor, who is presently India’s Prime Minister, seldom speaks. When he speaks on rare occasion, like the one he did before the Chief Secretaries of States recently, it was pearls of economic wisdom, erudite scholar’s thoughts, which flew like the Ganges which carries all the filth, mud, dead humans, unconcerned.
His cure to the dreaded scarcity of essential commodities was, waiving mandi taxes, octoroi and local taxes which impede the smooth movement of essential commodities.
His Second doctrine which “demeans us against our own people” is the Corruption strike at the roots of good governance and denting country’s international image.
His third prescription was that the economy was on a high growth trajectory for the past few years, but it was ‘inflation’ that posed threat to the growth.
He felt that there was a need for paradigm shift in institutional arrangements for improving the availability of various commodities to meet the higher levels of consumption.
There were times in independent India, when he adhered to “Mixed economy” philosophy. But down the line, we were comfortable transforming ourselves to the “Business economy”, when economic institutions preached liberalization and globalization, reverse foreign investment by Indian mega companies. In order to grow, sub prime lending rate allowed mega companies to become mammoth companies, car lending, funds for housing, higher purchasing power amongst the middle class put India to growthtrajectory, etc. Then, the coalition Politics unwound the “economic economy” , where priorities were accorded to Social causes like 100 days Compulsory work, writing off agricultural loans worth Rs 70,000 Cr, BPL subsidy under PDS, and many such freebies.
Taxation by the Central Government through budgetary exercise, direct, indirect, scaled new heights. Service tax, which was Rs 500 Cr in 1991 budget skyrocketed to Rs 50,000 Cr in 2010 budget, Petrol prices were de-linked from Government control and vested in the oil companies which raised the same periodically. Let us thank RBI which has said that 25 paise and less than 25 paise will cease to exist , so from now on, the increase will be minimum 50 paise, but concurrent increase over the last six months’ was Rs 10/- over the previous price. The diesel prices were vested with the Government, and its alterations not under the purview of Oil companies, because Diesel constituted a major use of big businesses and government! Oil Seed cultivation is in chaos, do to excessive import of edible oils. While the proportion of domestic supply:: Foreign import was 50::50, some livid mind thought it should be changed to 50:50, but the imported oil exceeded the demand by 30%. Added to that, in the name of inflation, the customs duty was made “zero”. Countries, in order to up the import c.i.f price resorted to taxation, “export tax” so the price looked higher than that was the domestic price; hence WTO penal clause was avoided. Import has been going on indiscriminately, thereby, the indigenous edible oil industry has produced lower and lower growth figures, which may ultimately result in 100% import of edible Oils. Again using the ‘inflation’ doctrine, Government is contemplating banning exports.
RBI has no grip over the economy. They reduce interest rates and say that the monetary ends are stable. There is a multiplier effect in the interest Policy. If credit interest rate becomes lower, the savings rate will also become lower. According to RBI, saving money and lodging it in Banks instead of recklessly spending it, will fuel ‘inflation’. When the Opposite happens, the RBI tightens the policy, allows increase in interest rate not through raising interest rates, a power now transferred to Banks as “base rate”, but by fiddling with REP rate, reverse REPO rate, CRR, etc. In India, demand is over-estimated, supply under-estimated. When inflation creeps in, Government reverses its Policy, demand under-estimated and supply over-estimated.
When the economy is between the devil and the deep Sea, major scams worth lakh Crores of Rupees have been detected proving to the world, that Deviant Globalization (Nils Gilman) is a part and parcel of Indian economy. Instead of Indian money stalked in the Indian Banks, the money finds its way to tax heavens, with Government doing nothing about it to bring back the money.
Prime Minister should act, instead of theorizing the well-known economic theories which mean nothing to the Common Country man or tax payer.
His cure to the dreaded scarcity of essential commodities was, waiving mandi taxes, octoroi and local taxes which impede the smooth movement of essential commodities.
His Second doctrine which “demeans us against our own people” is the Corruption strike at the roots of good governance and denting country’s international image.
His third prescription was that the economy was on a high growth trajectory for the past few years, but it was ‘inflation’ that posed threat to the growth.
He felt that there was a need for paradigm shift in institutional arrangements for improving the availability of various commodities to meet the higher levels of consumption.
There were times in independent India, when he adhered to “Mixed economy” philosophy. But down the line, we were comfortable transforming ourselves to the “Business economy”, when economic institutions preached liberalization and globalization, reverse foreign investment by Indian mega companies. In order to grow, sub prime lending rate allowed mega companies to become mammoth companies, car lending, funds for housing, higher purchasing power amongst the middle class put India to growthtrajectory, etc. Then, the coalition Politics unwound the “economic economy” , where priorities were accorded to Social causes like 100 days Compulsory work, writing off agricultural loans worth Rs 70,000 Cr, BPL subsidy under PDS, and many such freebies.
Taxation by the Central Government through budgetary exercise, direct, indirect, scaled new heights. Service tax, which was Rs 500 Cr in 1991 budget skyrocketed to Rs 50,000 Cr in 2010 budget, Petrol prices were de-linked from Government control and vested in the oil companies which raised the same periodically. Let us thank RBI which has said that 25 paise and less than 25 paise will cease to exist , so from now on, the increase will be minimum 50 paise, but concurrent increase over the last six months’ was Rs 10/- over the previous price. The diesel prices were vested with the Government, and its alterations not under the purview of Oil companies, because Diesel constituted a major use of big businesses and government! Oil Seed cultivation is in chaos, do to excessive import of edible oils. While the proportion of domestic supply:: Foreign import was 50::50, some livid mind thought it should be changed to 50:50, but the imported oil exceeded the demand by 30%. Added to that, in the name of inflation, the customs duty was made “zero”. Countries, in order to up the import c.i.f price resorted to taxation, “export tax” so the price looked higher than that was the domestic price; hence WTO penal clause was avoided. Import has been going on indiscriminately, thereby, the indigenous edible oil industry has produced lower and lower growth figures, which may ultimately result in 100% import of edible Oils. Again using the ‘inflation’ doctrine, Government is contemplating banning exports.
RBI has no grip over the economy. They reduce interest rates and say that the monetary ends are stable. There is a multiplier effect in the interest Policy. If credit interest rate becomes lower, the savings rate will also become lower. According to RBI, saving money and lodging it in Banks instead of recklessly spending it, will fuel ‘inflation’. When the Opposite happens, the RBI tightens the policy, allows increase in interest rate not through raising interest rates, a power now transferred to Banks as “base rate”, but by fiddling with REP rate, reverse REPO rate, CRR, etc. In India, demand is over-estimated, supply under-estimated. When inflation creeps in, Government reverses its Policy, demand under-estimated and supply over-estimated.
When the economy is between the devil and the deep Sea, major scams worth lakh Crores of Rupees have been detected proving to the world, that Deviant Globalization (Nils Gilman) is a part and parcel of Indian economy. Instead of Indian money stalked in the Indian Banks, the money finds its way to tax heavens, with Government doing nothing about it to bring back the money.
Prime Minister should act, instead of theorizing the well-known economic theories which mean nothing to the Common Country man or tax payer.
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