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

Wednesday, April 15, 2009

Marxist as killer of freedom and new Dailt parties are lover of castes

A friend of mine was studied accountancy and costing and I studied economics. We use to discuss whenever we meet but never on Marxist ideas but in general. One day he suddenly wanted to discuss about the Indian Marxist parties and their approach of economic policy. 

It was not surprise when he said that “these Marxist are destroying our country otherwise would have been much better than the present level”. He went on in fact these people have killed many millions by advocating what they like and like one side minded and never thought of alternatives. He further discovered that “these people considered non Indian or outsider policy advocates as foreigners but these folks never considered Karl Marx as foreigner! What a nonsense he said.

And now Mr Ramachandra Guha writes in the Outlook (April 20 2009) that “..Marxist politicians are in some respects more decent than the rest. Surveys have consistently shown that CPI and CPI(M) MPs are less corrupt and less prone to criminality than politicians of other parties.” 

I gave only one example just imagine in a larger level. And in my view it is wrong to say Indian Marxist are “decent than the rest”. If we say likely or dizzily we tend to fool ourselves. 

Further Mr Guha urges that “A pragmatic Left must also appreciate the benefits of entrepreneurship and innovation, of seeking to increase the size of the economic cake so that there are bigger slices to go all around.” 

At least to me it looks he is asking a dead snakes to show picture but not to attack people! 

Even if the ‘left’ or Marxist decided to accept free market ideas, the world will not be hunger, poverty, inequality (add whatever you think) free world! 

They have done more than enough damages in India. For example, as Mr Bhagwan Das, a research associate of Babasaheb Bhimrao Ambedkar said in an interview to TOI in which he says: 

  • “What changes have you witnessed in Dalit politics since independence? 
  • It has deteriorated. In the pre-independence days, Dalit leaders used to be well educated and informed about issues regarding their community and the society as a whole. The movement was vibrant. Unlike today it wasn't only lip service and vote-bank politics. They encouraged untouchables to take up education. For example, Babasaheb started three colleges across Maharashtra and a school in Mumbai. Ambedkar didn't only talk about fight against exploitation but also against the caste system. But today, everybody uses Babasaheb's name only for political gains. No present-day politician can ever come close to following what the great Dalit leader preached. They don't even know about his teachings and principles. No Dalit leader can ever acquire a pan-Indian identity like Ambedkar. And that's why Dalits continue to wallow in poverty and illiteracy. 
  • Do you think that proliferation of Dalit parties and leaders has changed the course of Indian politics? 
  • It has certainly, but only for the worse. Instead of abolishing discrimination, Dalit parties have worked to strengthen the caste system, by further driving a wedge between scheduled castes and other groups. Their method of assertion is wrong. Only a few people in the corridors of power have benefited from the ascendancy of some Dalit leaders. For example, a chamar leader will only work for his community since Dalits as a whole are not united.
  • Has reservation in jobs, education and legislature helped to improve the lot of Dalits? 
  • Quota has helped but it has not been implemented properly. Prejudice against us is very strong and officers from our community are still humiliated at the workplace”.

Tuesday, April 14, 2009

The Great Indian Socialist Darkness-1

The following are excerpts from a great Indian economic thought book! The White Tiger by Arvind Adiga.

“The inspector made me write my name on the blackboard; then he showed me his wristwatch and asked me to read the time. He took out his wallet, removed a small photo, and asked me, "Who is this man, who is the most important man in all our lives?" 

The photo was of a plump man with spiky white hair and chubby cheeks, wearing thick earrings of gold; the face glowed with intelligence and kindness. 

"He's the Great Socialist." "Good. 

And what is the Great Socialist's message for little children?" I had seen the answer on the wall outside the temple: a policeman had written it one day in red paint. "Any boy in any village can grow up to become the prime minister of India. That is his message to little children all over this land." The inspector pointed his cane straight at me. 

"You, young man, are an intelligent, honest, vivacious fellow in this crowd of thugs and idiots. In any jungle, what is the rarest of animals—the creature that comes along only once in a generation?" 

I thought about it and said: "The white tiger." 

I came to Dhanbad after my father's death. He had been ill for some time, but there is no hospital in Laxmangarh, although there are three different foundation stones for a hospital, laid by three different politicians before three different elections. When he began spitting blood that morning, Kishan and I took him by boat across the river. We kept washing his mouth with water from the river, but the water was so polluted that it made him spit more blood. There was a rickshaw-puller on the other side of the river who recognized my father; he took the three of us for free to the government hospital. There were three black goats sitting on the steps to the large, faded white building; the stench of goat feces wafted out from the open door. The glass in most of the windows was broken; a cat was staring out at us from one cracked window. 

A sign on the gate said: 

LOHIA UNIVERSAL FREE HOSPITAL PROUDLY INAUGURATED BY THE GREAT SOCIALIST A HOLY PROOF THAT HE KEEPS HIS PROMISES. 

Kishan and I carried our father in, stamping on the goat turds which had spread like a constellation of black stars on the ground. 

There was no doctor in the hospital. The ward boy, after we bribed him ten rupees, said that a doctor might come in the evening. The doors to the hospital's rooms were wide open; the beds had metal springs sticking out of them, and the cat began snarling at us the moment we stepped into the room.

"It's not safe in the rooms—that cat has tasted blood." 

A couple of Muslim men had spread a newspaper on the ground and were sitting on it. One of them had an open wound on his leg. He invited us to sit with him and his friend. 

Kishan and I lowered Father onto the newspaper sheets. 

We waited there. Two little girls came and sat down behind us; both of them had yellow eyes. 

"Jaundice. She gave it to me." "I did not. You gave it to me. And now we'll both die!" 

An old man with a cotton patch on one eye came and sat down behind the girls. 

The Muslim men kept adding newspapers to the ground, and the line of diseased eyes, raw wounds, and delirious mouths kept growing. 

"Why isn't there a doctor here, uncle?" I asked. "This is the only hospital on either side of the river." 

"See, it's like this," the older Muslim man said. "There's a government medical superintendent who's meant to check that doctors visit village hospitals like this. Now, each time this post falls vacant, the Great Socialist lets all the big doctors know that he's having an open auction for that post. The going rate for this post is about four hundred thousand rupees these days." 

"That much!" I said, my mouth opened wide. 

"Why not? There's good money in public service! Now, imagine that I'm a doctor. I beg and borrow the money and give it to the Great Socialist, while touching his feet. He gives me the job. I take an oath to God and the Constitution of India and then I put my boots up on my desk in the state capital." He raised his feet onto an imaginary table. "Next, I call all the junior government doctors, whom I'm supposed to supervise, into my office. I take out my big government ledger. I shout out, 'Dr. Ram Pandey.'" 

He pointed a finger at me; I assumed my role in the play. 

I saluted him: "Yes, sir!" 

He held out his palm to me. 

"Now, you—Dr. Ram Pandey—will kindly put one-third of your salary in my palm. Good boy. In return, I do this." He made a tick on the imaginary ledger. "You can keep the rest of your government salary and go work in some private hospital for the rest of the week. Forget the village. Because according to this ledger you've been there. You've treated my wounded leg. You've healed that girl's jaundice."

Other post 1

Monday, April 13, 2009

Bureaucrats Charity works very well under the table……….

K Shivakumar quote’s Nani Palkhivala in an article in BS which is like anything but how terrible our government bureaucrats Nani said: 

Two things strike the student of Indian income-tax law with trepidation and amazement — the precipitate and chronic tinkering with the law by bureaucrats who are the unacknowledged legislators of India, and the anaesthetised patience of the Indian public. The poor of India endure inhuman conditions which would lead to a bloody revolution in any other country. The rich endure foolish laws and unending amendments which benefit none except the legal and accountancy professions, and instinctively prefer to circumvent the law than to fight for its repeal.”

Thursday, April 9, 2009

Fraternity barely heard is the starting point….

Mr Arun Maira has an interesting article in today’s ET which throws interesting questions also. What would be the liberal’s position in election at this point of time? 

However, we must accept what it emerges like “…that they are taking the first steps towards a larger transformation of the country’s political culture and therefore deserve support. Which raises the question: since transformation by this route will be difficult and slow, how else can the Indian professional class influence the course of the country’s politics and development? ” 

Further if we want change lets be “Ideally, those who wish to influence change must participate transparently within the official system — as the ‘professionals’ standing for election in India are. In the 1960s, Minoo Masani appealed to Indian professionals to come forth and join the Swatantra Party. The party fizzled out by the 1980s. Not only because many professionals did not join it, but because its views about economics and society had limited appeal amongst Indian people. 

Two questions about the role of the professionals in politics that were asked to the Swatantra Party’s leaders 50 years ago, remain valid even today. One, are professionals electable? And two, how inclusive is their vision for the country? To get elected, these professionals must convince voters that they understand and represent what the voters want. Very recently Chandrababu Naidu told an industry association that he lost the election in 2004 because he was seen to be too much influenced by professionals — international consultants and CEOs. And that, to get elected this time, he would keep his distance from them and stay much closer to the people.” 

Lastly, I completely hate talking like this “….their voices will be barely heard in Parliament and state assemblies even if they get elected”. After all the change will only happens when the individual change.

Wednesday, April 8, 2009

Wisdom of Untersuchungen...........

Now, we are in once again hardcore election time if anything matter at most in economics is the public finance in which the elected government will do its job as business as usual. 

There are differences in assessment of the performance of a company or consumer behaviour (read as benefits or gains or loss) from a market: buying and selling things. 

But when it comes to the assessment of a representative of people in a democracy it is always a difficult job and the odd will prevail at most. In other words as Buchanan said “..in political exchange, there is no decentralized process that allows "efficiency" to be evaluated deontologically, akin to the evaluation of a market. Individuals cannot, by the nature of the goods that are collectively "purchased" in politics, adjust their own behavior to common terms of trade. The political analogue to decentralized trading among individuals must be that feature common over all exchanges, which is agreement among the individuals who participate. The unanimity rule for collective choice is the political analogue to freedom of exchange of partitionable goods in markets.” 

Though, Mr Bob McTeer President, Federal Reserve Bank of Dallas said economist Johan Gustav Knut Wicksell  “…favored a mild form of socialism, achieved gradually and built on the foundations of a welfare state”. 

But public choice theory economist James M. Buchanan Jr quoted in his Nobel lecture and is quite interesting to ponder. In fact it is also right time to remember what he has said decades ago. Excerpts from his lecture: 

  • “The science of public finance should always keep... political conditions clearly in mind. Instead of expecting guidance from a doctrine of taxation that is based on the political philosophy of by-gone ages, it should instead endeavor to unlock the mysteries of the spirit of progress and development. (Wicksell, p. 87.). 
  • If utility is zero for each individual member of the community, the total utility for the community cannot be other than zero. (Wicksell, p. 77.) 
  • ... neither the executive nor the legislative body, and even less the deciding majority in the latter, are in reality ... what the ruling theory tells us they should be. They are not pure organs of the community with no thought other than to promote the common weal.
  • ... members of the representative body are, in the overwhelming majority of cases, precisely as interested in the general welfare as are their constituents, neither more nor less. (Wicksell, pp. 86, 87.) 
  • It would seem to be a blatant injustice if someone should be forced to contribute toward the costs of some activity which does not further his interests or may even be diametrically opposed to them. (Wicksell, p. 89.) 
  • ... whether the benefits of the proposed activity to the individual citizens would be greater than its cost to them, no one can judge this better than the individuals themselves. (Wicksell, p. 79.) 
  • The ultimate goal ... is equality before the law, greatest possible liberty, and the economic well-being and peaceful cooperation of all people. (Wicksell, p. 88.)”

Eleemosynarism…….

Liberal scholar Mr Sharad Joshi has a great piece in today’s Business Line against the NREGA titled “Killing the spirit of enterprise”. 

He argues the “blatant ‘eleemosynarism’ – a system of encouraging people to live in expectation of gratuitous assistance rather than by the sweat of the brow and enterprise. And this is much worse than giving cash to a single individual. This is the virtual emasculation of a whole section of society. ”

Tuesday, April 7, 2009

Repeat every disastrous mistake of the 1930s

Economist Sowell has a great piece: 

  • “politicians can spend our tax money like a drunken sailor,…. Barack Obama seems determined to repeat every disastrous mistake of the 1930s, at home and abroad. ,….. it has long been said that uncertainty is the hardest thing for a market to adjust to. No one can generate uncertainty as much as the government, 
  • How a man who holds the entire population of a country as his prisoners, and punishes the families of those who escape, can be admired by people who call themselves liberals is one of the many wonders of the human mind's ability to rationalize. Yet such is the case with Fidel Castro”.

Monday, April 6, 2009

Election is a fish out of water bowl………

After economic reform, many or almost all left party politician, left academic, unions, etc blame the reform process because poor people have not got benefits from ‘economic prosperity’ that our country has seen last ten or fifteen years. 

Here People's Democratic Party President Mehbooba Mufti says in an interview with BS. 

“What are the issues you expect the political parties to address in the election campaign?

The economic issues will certainly dominate the election campaign across the country. The fact is that the economic prosperity that we have achieved in the last decade is not evenly distributed across the society and regions. People and smaller parties like ours are looking forward to the major players to spell out policies that would translate this prosperity into visible results on the ground”. 

Let me ask are the ‘economic prosperity’ was achieved evenly and distributed well before the economic reform, which was started in 90s? 

It is not surprise, if any of these group answers with odd or muddled narratives.

Thursday, April 2, 2009

Consolidated Common Minimum Fund of India!

Shyam Ponappa stress what could be added in the list of subsidy politics; 

The following are some excerpts from his article in today’s BS.   

  • "‘Rice politics’ is a convenient tag for these strategies, although their reach extends to food grains, saris, housing, TV sets, mobile phones, computers, cash, liquor… This practice began in 1967 in Tamil Nadu, when the DMK swept to power on the promise of cheap rice (and opposition to Hindi). This was followed in Andhra Pradesh by the TDP in 1983 and 1994. The Congress tried to counter the TDP’s blandishments in Andhra Pradesh on both occasions, to no avail. Then came the successes in the mid-1990s by the Janata Dal in Karnataka, the late Biju Patnaik in Orissa, and the Shiv Sena in Maharashtra. More recently, the BJP was successful in Karnataka, MP and Chattisgarh. The DMK added TV sets to ‘roti-kapda-makaan’ in 2006. Now, the Congress and BJP are trying to outdo each other with electioneering sops. 
  • The Congress manifesto promises expanding the NREGS, taking broadband to the villages and extending reservations to the private sector, while the BJP offers computers with Internet connections... 
  • The Justice D P Wadhwa Committee appointed by the Supreme Court reportedly recommended last week scrapping the PDS, and instituting a computerised, ID-linked distribution system. Executed competently as an end-to-end system, this would result in greater end-user benefits at much lower cost".

Wednesday, April 1, 2009

Can your vote buy money locked in the Swiss Banks?

An IIM Bangalore Professor R Vaidyanathan says in Swiss Banks “More amounts were stashed away during the Nehruvian regime.” 

The following are some excerpts from his interview with Rediff. 

“Firstly how much Indian money do you think is stashed away in the Swiss Banks? 

In 2006, the most recent Global Financial Integrity study, developing countries lost an estimated $858.6 billion (about Rs 43 lakh crore) to $1.06 trillion (abot Rs 51 lakh crore) in illicit financial outflows. Even at the lower end of the range of estimates, the volume of illicit financial flows coming out of developing countries increased at a compound rate of 18.2 percent over the five-year period analysed for the study. On average, for the five-year period of this study, Asia accounts for  approximately 50 percent of overall illicit financial flows from all developing countries. 

This report shows that the average amount stashed away from India annually during 2002-06 is $27.3 billion (about 136,466 crore). It means that during the five-year period the amount stashed away is 27.3x5=136.5 billion (about 692,328 crore). It is not that all these amounts went to Swiss banks. It has gone to different tax and secret shelters. The share of Swiss banks in dirty money being a third of the global aggregate, some $45 billion out of the 136.5 billion stashed away from India would have been hoarded in these years in Swiss banks. 

The important point is that this is only for five years. More amounts were stashed away during the Nehruvian regime. So the loot for 55 years will be several times higher. In fact, in those days the rupee commanded a better value per dollar. So fewer rupee could get more dollars. So the estimation that the Indian money stashed away may be of the order of $1.4 trillion (about Rs 71 lakh crore). 

You wrote in your column that the German foreign intelligence agency BND got names of 1,400 clients of the Liechtenstein-based LTG bank who were supposed to be suspected tax evaders. Of the 1,400, 600 were supposed to be Germans. Do you think of the remaining there will be Indians as well? Has the Indian government approached the German government for the list? 

Indian names will be there. Our tax evaders and crooks are like the omnipresent Maha Vishnu [Images] -- present in all continents and all tax havens. But our government has been lukewarm in this issue. It should have despatched immediately senior officials to get the names. 

Isn't it important to tackle the issue of domestic black money? 

It is definitely important. At least the domestic black money is used in our economy and to that extent it is productive. But the money kept in Swiss banks is neither useful to India nor does it benefit Indians. 

What role should the media play? 

The media has a very important role to play. At the moment it seems like most part of the media is more interested in the diet of an actress. Pressure by the media needs to be built up on this issue and remember that a lot of Indians don't just go to Switzerland to ski”. 

But it is absurdly and nonsense to say that “At least the domestic black money is used in our economy and to that extent it is productive.” Don’t you think so?

Tuesday, March 31, 2009

People and politician was never a mutual discoverer-it is odd

In an interview to The Business Line Mr Sashi Tharoor says: 

"Do you think that you have too closely identified yourself with the US on several issues that, perhaps, you have also created some doubts in the minds of people? 

Many in the Left have been going around thinking that I am some sort of an American agent. I find this slightly odd because the Left was the first to correctly denounce the George Bush administration’s veto of me in the race for UN Secretary-General. If I were an American agent I would probably be there (the US) and not here... So this seems a slightly preposterous charge..."

Private Consolidate Fund of India

It is not new when companies donate money to parties. But transformation of this idea is still not yet under way. 

There could be a Private Consolidate Fund of India (PCFI) which can fund political parties (candidates) that link practical policies that have alternative option to poster the society. 

In fact in the present funding system many people really do not know how much they spend on one non criminal candidate and a criminal candidate. 

This PCFI could be an independent bank of charity to manage funds. It should never accept money from any form of Government. 

According to Bibek many industrialist donated money to political parties. He writes in the Indian Express that: 

  • “The UTVI channel has used the RTI Act to collect data on income tax returns filed by political parties. The figures are sometimes for 2007-08, sometimes for 2008-09. So we know, the largest donors have been Aditya Birla group, Torrent Power, Videocon, Salgaonkar, Dempo, Chowgule, Charitable Trust, Jubilant Enpro, Kamaljit Singh Ahluwalia, Timblo, Prime Builders and Developers, Honda Siel, Trans Indian Freight Services and United Phosphorus. 
  • I am told some corporate boards insist donations should be evenly spread out, not necessarily equally, but perhaps in some proportion to seats in Parliament. But that’s not what this list shows. Aditya Birla prefers Congress, Kamaljit Singh Ahluwalia prefers BJP and Honda Siel prefers Samajwadi Party.”

Monday, March 16, 2009

Professor Dipankar Gupta is wrong………..

It is not at all surprising me when Professor Dipankar Gupta says “The BJP's 1991 manifesto only mentioned that it would strive to "relocate the ancient structure" and build a Ram temple elsewhere. Not a word about demolishing the Babri Masjid. Read the 2004 Congress manifesto today, and what a surprise. Even the phrase "nuclear energy" is nowhere to be found; ditto for the UPA's common minimum programme too.” And he never mentioned the ugly situation of left parties and they take advantage of as “..Most people are not able to read or write without spelling a word at a time. A little over 65% may be officially literate, but for the bulk it just means substituting thumb impressions for a scrawl. As for the literates, they want action without ideology for the written word has meant so little for so long. ”

It is a myth…….

Yes, I mean “With the launch of the republic in 1950, India’s political class had agreed to integrate Dalits into mainstream society and its economy.” 

Secondly, the recent ET editorial is an example:

  • “The net result is more than 60 years after Independence less than one in 10 MPs or MLAs in India is a woman. According to PRS Legislative Research, women accounted for less than 7% the total MLAs in 28 states and two Union territories and little over 9 % of the total number of MPs in the last Lok Sabha.  
  • But having said that, it is nothing but hypocrisy when a political class that regards reservation as an answer to social discrimination suffered by SCs, STs, and now OBCs,”

We do not know the actual percentage of SCs, STs MLAs, MPs from each major political party.

Wednesday, March 4, 2009

State is a “weak substitute” to Market…..

Almost, Mr TCA become a bogus analyst with horrified mind said a friend of mine. 

Well, if any one I wanted to call notorious in the analysis of Indian economy it will be “Cornell economist Kaushik Basu”. 

Mr Basu said in his Sage - Madras School of Economics Endowment Lecture (2007) “one undeniable factor is that India’s savings and investment rates had risen sharply from the late sixties to the late seventies. What caused this? Clearly, the nationalization of banks in 1969, with the state-owned banks being forced thereafter to open branches in remote areas of India, and the start of Unit Trust of India in 1964 were key factors in boosting the savings rate, which in turn was the first impetus for rapid growth”. 

Nonetheless, the question is important Mr. Basu “once asked why everyone held an opinion on economics but not on aircraft design. He was arguing that economics was a specialisation requiring technical skills that were no less rigorous than those required of an aircraft designer”. 

Some time back Mr TCA seems to be good analyst of economics and politics but now I realised that he also misdirected his readers. He simply scraped the India’s reforms of past 15 or more years. “….This was a big intellectual leap, made largely in the 1980s, which became mainstream faith in the1990s and in this decade. Its consequences confront the world now in the form of the financial disaster it has caused”. 

No doubt, I agree with at least this point that “It was that if you got the market design right, the danger of market failure was almost nil. This assumption led to the influx of engineers, scientists and physicists into a domain that superficially looked like their own but contained, alas, humans also, with all their foibles”. 

No matter how many business analysts, journalist, and other “…..harking back to Keynes now but nowhere did he say that the taxpayers should pay the price of private folly and greed via bailouts What he said was governments should buy goods and services when private demand fell short of what installed capacity could provide. He was treating a different problem, namely, the survival of the poor, not of the rich”. 

Our academicians including the economics departments of Indian universities are in deep sleep. They cannot back to Keynes nor look forward to Hayek or anyone else. 

It is no less folly to blame only “private folly and greed via bailouts”. Election after election, schemes after schemes, law after law, Acts after Acts, rules after rules, etc goes with publically announced “bailouts” in the name of “poor”  without mining whether it reaches or not. 

What remains a big mess is the Constitution of India which becomes focal point for everyone to speak but not to adhere, morally, mentally and physically and be responsible when get elected by people of this country.

Thursday, February 26, 2009

Governments often think and Plan for ‘Poor’ but it tax too much

At least folks now realised that they can not fool poor people anymore by taxing lavishly. See what Vijay Kelkar says: 

  • “Consumers pay the tax on final goods and services purchased. In terms of the national economic identity, therefore, a tax is levied on that part of value added which is consumed. Exports are “zero-rated’ as in competitive international markets you cannot export taxes!  
  • One of the most important factors adversely affecting our competitiveness is the present indirect tax system. 
  • High import tariffs, excises and turnover tax on domestic goods and services have enormous cascading effects, leading to a distorted structure of production, consumption and exports.
  • The existing tax system introduces myriad distortions which favour some goods and services at the expense of others. Manufacturing sector is so highly taxed that India is an outlier in terms of taxation”. 

Thursday, February 19, 2009

In history nothing is committed!

Shubhashis Gangopadhyay bites on Interim Budget but nothing new, the other issue is that he himself is part of the finance ministry advisory he could not persuade them to include all those hard core facts of present (UPA, of course the) "UPS" achievements during the last five years. But compliant “sound like items from a laundry list” “the budget speech needed to give the government’s reading of the current economic situation and its outlook for the next couple of years. Second, it could have talked about how the actions taken so far are going to work in the economy and, by when. Third, it could explain how the actions taken so far are sufficient to arrest any further deterioration in the economic health of the country. Fourth, it could have outlined its desired policies to get the economy back on track. Then, and, only then, could the Minister say that, however, we will desist from trying to implement any of the new policies since this is an interim budget and let this be our suggestion to whoever forms the next government. Instead, the speech went into a laundry list of what the government has done in the last five years!”

Thursday, February 5, 2009

Global demand based on Babus and Netas……

Sameer Sharma writes in today’s ET: 

  • “President Obama’s package of building a new energy architecture, healthcare, and infrastructure development is likely to increase domestic demand, but spillover to other parts of the world remains uncertain.” 
  •  “..government interventions are holding operations that restore production, employment, consumer spending, and business confidence. Only after households, businesses, and exports regain their position as drivers of economic growth will global demand be restored. During the interregnum countries having the wherewithal to model uncertainty are expected to best withstand the crisis” 

Don’t forget to think of sixth pay commission funding for more stimulus packages……..to these babus and netas.. 

Tuesday, January 20, 2009

Administrated Politics

Gobind Thukral says:

  • Chandigarh... “the city, no doubt, elects one member for the Lok Sabha and has a nearly elected Municipal Corporation. The current member of Parliament, Mr Pawan Bansal, is a minister of state for finance and hence funds should be no problem. It is another privilege indeed.
  • Yet we find the seasoned politician mostly in tears. He has been sending missives to the city administrator who is also the Governor of Punjab, complaining of being ignored.
  • Every week his complaints mount and he feels crestfallen. May it be the cause of farmers, whose lands have been virtually usurped by the administration all in the name of development or the plight of the poor, the underprivileged slum dwellers and small shopkeepers.
  • One reason for which the citizens agree in a big way is that the Administrator, who is also the Governor of Punjab and whose accessibility to the citizens is limited because of the constitutional position he holds, should be replaced by a Chief Commissioner”.

Monday, January 19, 2009

It’s now Change vs Hope no audacity in between

What is next, so for the developing countries? Hey guys be ready to export whatever you can or could not in the past because our pundits says that the new government in US is ready to pull everybody legs and hopefully the “stimulus package will work since global economic recovery hinges a great deal on US recovery. Three, he will have the vision to work on the long-overdue reform of the global financial architecture”.