Will the Hunt for Black Money Fall Flat?

Reports are emanating from different quarters about the seriousness of the government to curb the black money.

Will Rajan Idenify Faultlines Before Reducing Interest Rates?

Clamor for interest rate cut is gaining ground day by day. Finance Minister has already lent his moral support for a reduction.

An Economy of Watering Holes

The Kerala High Court decision upholding the decision of the Kerala Government for closure of the bars in two and three star’s hotels in the state by today evening was on the expected lines.

Cabinet Expansion-Gainers vs Losers

In any reshuffle of the ministry, there will be some who will cheer, some suffer heartburn.

When will we say No to Union General Budget?

Indian Fiance Minister Arun Jaitley will move the second General Budget on 28th February 2015.

Showing posts with label Political Commentary. Show all posts
Showing posts with label Political Commentary. Show all posts

Tuesday 30 December 2014

Why I will Support Arvind Kejriwal in the Next Delhi Elections?




                             Why I will Support Arvind Kejriwal in the Next Delhi Elections?

I am giving below 10 reasons why I will support Arvind Kejariwal's Aaam Admi Party in the coming elections  in Delhi.
1. I believe Congress and Bhartiya Janata Party (BJP) are both sides of a coin and they are firmly footed in the vote bank politics. Whereas, AAP, though lacks experience in governance, is willing to experiment, without much looking into the outcome. Them abdicating the power in Delhi last time, is a political experiment. Opinions may vary whether that had misfired on them. In any experiment, there can be good and bad results and one has to take them in the right stride.
2. All major political parties have developed vested interest in continuing with the system   and  they have to carry on with them the stakeholders since the money for fighting elections are largely coming from them. Every contribution to them has a string attached to it. They cannot wriggle out of it, however hard they might try. Whereas, AAP being a recent political formation can innovate the funding patterns. They have been organizing dinners, get-together, membership drives, contributions from like -minded people etc., which add up to their kitty. If there is any minor aberrations, I am willing to tolerate them.
3. Mainline parties are surviving on media patronage to a large extent. Media is owned by industrialists and independence in reporting is a long forgone doctrine in India. Of course, media change the stand depending on which side of the toast is buttered.  We can see it every day in newspaper columns how they hawk the their own agenda. AAP being a new party and has shown the courage to ignore media to a great extent. I believe that it is a good augury.
4. Political parties are subordinated to business interests because of the  heavy contributions they have made to all important political parties. We know how the bureaucrats, politicians and business curry favor among themselves. Whatever exhortations they make in public are meaningless since businesses know hot to call their shots at critical times. Their lobbying techniques are far more effective and long lasting.  AAP has shown courage to take on some of the large corporations and to expose their omissions and commissions. I believe that they will continue to do the same by bringing them under the purview of strict surveillance on wrong things they are doing.   
5. My experience is that major political parties make more promises and fail miserably in delivery. Though AAP was in rule only for 49 days in Delhi, they had implemented some of the reforms that had promised in manifesto without any fear or prejudice, particularly in areas like electricity tariff, water charges, eradication of corruption etc. For instance, a national daily had conducted a survey immediately after AAP came into power in Delhi and found that some of the most corrupt departments like Transport division, DDA etc. had shown remarkable progress in containing corruption.
6. AAP had  promised to contain the inflation particularly of  food articles and they were contemplating many steps like allowing farmers selling products directly to consumers etc. But such schemes have been put in the cold storage. There is an all round increase in prices of all food items in Delhi, despite the claim by the government that both wholesale and retail prices have cooled down. They are hiding the fact from the public that the percentage changes are mostly because of the base effect. Prices of medicines also have soared high.
7. Power corrupts and absolute power corrupts absolutely. BJP is in power at Center and in more than 10 states. There should be checks and balances for any political party or affilaitions, lest it would go berserk with power.
8. India needs change in power structure, equations and in articulating its growth strategies. Political parties, which were ruling for so many years have lost the appetite to create new structures. By giving AAP a chance to rule Delhi, we are enabling them to carry out their experiment in a microcosm to be superimposed on a wider canvas later.
9. AAP is a party of youngsters and most of its party members are ordinary people, who have been left out to the fringes by the successive ruling parties. Giving voice to those who have been left out will be the right risk cover against  massive agitations as are happening in other parts of the world.
10. Finally, I believe that AAP is secular in the true sense. That does not mean that its followers should become irreligious. What they have to believe is that faith is a private affair and at  the  macro level we are all proud Indians, irrespective of the religions that we have born into. Polarization in terms of religion is the greatest harm that we can do this country.      
         

Monday 10 November 2014

Euphoric Illusion


                              
Has the editorial policy of Indian newspapers changed overnight. From a pessimistic cast, they have moved to an optimistic mould. They find good in everything. Economy is expcted to grow over 6 % next year and even peak at 7% or so by the end of the next year. Interest rate is likely to come down. Fiscal deficit  is likely to touch the lowest ebb. Inflation will be contained. Both wholesale and consumer index are going south, which will be an enabler for cutting the rate of interest by the RBI. Stock market is at an all time high etc. etc.

That evokes in me some kind of nostalgia. During the last NDA regime, some uncommon  terminologies have cropped up such as " India Shining", "Feel Good Factor" and now it is more Indianized "Acha Din" (Good Day). The well being of a nation is counted in terms of the state of living of the men who have the least income. What they can afford? Whether, they can buy the basic necessities with the money they have in their pocket? A visit to the market will give one more insights into the conditions there. Onions are priced close to Rs 20 ( for ordinary variety) for kilogram and for good variety, the prices still hover around Rs 35. For tomatoes, it could vary between Rs 25 to 40 depending on the variety. For the common man's subzi  -aloo- cost is  between Rs 25 to Rs 50 per kilogram, depending on the quality and from where one is buying. Is it heralding of Acha Din. We have to reckon that during this season last year, all these vegetables were sold at much a cheaper price. For instance, for Rs 15, one could get two kilograms of aloo and so on.

What made the journos change the track? If it is a break from the past and to shower some cheer into an otherwise morbid situation, it is okay. But that is not the dharma of the journalists. They have to place the facts before the public and for that they have to move from their seats. In stead of getting a quote from a well known economists or a political commentator, they should listen to a homemaker from a poorer set up to know how she is finding difficult to make both ends meet. Her husband who is working as a plumber, daily wager, loader etc may be earning a few hundred rupees whenever they get the work. It is absolutely dificlt for them to feed the family apart from educating their younger ones. On the top of it, there are the expenses towards medicine, transport etc, which make him or her broke in the first half of the month itself.

During the peak of wiki leaks, The Hindu newspaper serialized the exposes and some of them were realting to India. I distinctly remember that there was a dispatch sent from India by a US diplomat, which clearly tells that to create a public opinion in favor of any issue or against , it is prudent to invest in the growing tribe of economists in the country. They can calibrate their comments in whichever way that one wants.
The bottom line is that when the stock market zooms high, it is not acha din, when the estimates for growth is pegged up, it will not change the life of an ordinary citizen qualitatively. They  feel good only when things are good. They also know that illusions are man made to mislead people.

  Business Economics & Services Team