Come 4th September, Dr Rahguram Rajan will take over the reigns of the Mint Street, Mumbai. Dr Rajan, comes with illustrious career record. Since his graduation days, he spent all his life in US or abroad. Like most of the Manmohan Singh team, he comes with the World Bank and IMF baggage. He famously predicted the 2008 world crisis before they brown out. He was ridiculed (or played down) by many in the Washington establishment. However, Rajan never compromised on his views. Until tomorrow, Dr Rajan remained a backroom operator or academic. That helped him to keep his reputation intact.
Welcome to Dr Raghuram Rajan into the hot seat - at a time India's economic fault lines are obvious even for common man. At North block, New Delhi - India is suffering from intellectual ideologies or inertia. Speaking in Economic terms - no one knows, if India is Capitalism, Socialism or communism. At one end - while the free market is limping, other end subsidies and freebies are exponentially go up. The bets on Onion, Petrol and dollar - which one of them would reach Rs 100 mark per unit first are not abating. While Government is aiding Petrol, market is taking care of Rupee. Even when the rain God blessed, Onion is at the mercy of some ghosts.
Current account deficit, inflated real estate, falling growth, raising inflation, policy paralysis, lack of vision at New Delhi, black money, corruption and not the least Onions are in this long list.
Now the key question though is - what Dr Raghurajan can do? Last two RBI governors - YV Reddy and Duvvuri Subbarao struck to their guns. Like US, is it that whole magic for Indian economy in tweaking interest rates and loose monetary policy (QE)? If it was that simple, why Reddy and Subbarao didn't do it, instead became anti-establishment?
Like his super boss, Dr Mannohan Singh - Raghuram Rajan is at this most defining moment of his life and career. Dr Singh failed to act. Can Raghuram Rajan act and force the policies that would clear the fault lines or fall in line with P Chidambaram? Unlike writing books or publishing articles - Rajan has to deal with the complex system in New Delhi. The biggest challenge is - who is boss? Rao and Reddy got their answer quickly and operated independently.
With populism on raise, elections round the corner - not sure how much Raghuram Rajan can correct India's economic fault lines. Certainly, the fault lines under his chair and for his reputation are on the horizon for now.
Good luck to first ever (American?) Indian RBI Governor.
Showing posts with label India. Show all posts
Showing posts with label India. Show all posts
Sunday, September 01, 2013
Thursday, July 11, 2013
Playing with Fire - Indian Congress Party Politics
Independent India's greatness or poor show, good or bad, Secular or religious politics, successful democracy or caste and regionalism - all in some way or other is attributed to Congress Party. Politics is all about power, power is about existence and existence is for survival. Congress did everything it could and has been going for it's existence.
During the initial decade of Indian independence, the national building was molded by absolute desire to make India a Great nation on the earth. Building dams, making foundations for solid education system and more importantly learning to live peacefully unlike separated cousin Pakistan are few good examples. While India can positively cheer of it's progress, over the period of time Congress politics has come down to single agenda - Survival. For this, beginning 60's - Congress started playing with fire. First it applied the schema with in the party and tested. Then, applied externally. The game plan has been simple. Invent a problem - put the opposition parties (or opponents) in defense, divide them, gather votes on cheap popular agenda, or talk moral high ground, deceive the public and return to the power.
Interestingly, this Congress game plan was a huge success. Indira Gandhi became Goddess Durga. Bangladesh was created. Along with that, came India's first national crisis. The nation, which was by and large living in peace was flooded with Bangladeshi refugees. What Congress (and Indian Government) do know but would not admit is - since 1971, when Bangladesh created the Hindu population is rapid declining. For any statistics, if these Hindu's are running away from Bangladesh - then they must be the refugees in India. But, most of the refugees are Muslims. They arrived (keep up the inflows still) initially into Assam and West Bengal. Over the course of years, all these refugees slowly seep into India's hinterland. Shiv Sena which cries foul of these refugees in Mumbai is branded a communal party. For the vote bank politics, Congress would use the secular agenda and join with the other so called secular forces to undermine the problem. Most of the people knew Assam and other north Eastern states, West Bengal are simmering with communal fire. It is a matter of time - it will blow up, after the intermittent flareups seen occasionally. Infernos would be imminent. For Congress party survival by Congress Party.
Back in 80's Congress had difficulty with Akalis in Punjab. Akalis - a Sikh Party for protecting Sikhs interest. Congress had a difficulty with them. To counter Akalis, Congress incited alternative power politics. The richest state suffered for decades, host of innocent citizens were killed. When their alternative, Brindanwale became a liability - the worst events took place Indian history. Golden temple attack, operational blue star, assassination of Indira Gandhi, many senior politicians and Army officers - Sikhs massacre. Congress ignited fire destroyed many dreams and aspirations. Despite all this tragedy congress could get back to power. Congress knew to arbitrage the situation. Rajiv Gandhi took center stage. Indira Gandhi became martyr. Rest forgotten or conveniently ignored.
Rajiv is credited with igniting two fires. One in Ayodhya in Northern India. The Babri Masjid gates were opened - and the turn of events in the subsequent years divided the nations communal fabric. However, for all this Congress found another Prime Minister to wash off hands. Despite all this, congress party survival in Utter Pradesh is marginalized by communal, Secular and religious parties. Even then, Congress still works with them for their survival. Rajiv Gandhi's other fire was in down south. Tamil issue. In the end, the fire consumed Rajiv himself. Yet, for survival Congress party work closely with the parties that sympathized Rajiv assassins. Again, for existence, survival is the key and for survival power is the key. Congress knows this better than any other political party in India.
After going into oblivion for a decade, Congress returned this time with Sonia Gandhi's agenda. This time, Congress is playing with two fires. We are not sure what would be the eventual outcome. While the Gujarat and hunting Narendra Modi is is an opportunity to be exploited - Telengana is it's own creation. For more than a decade, they are playing with a state and it's people precariously. They created leaders, invented formulas, confused the nation for their survival. Congress is bound to take the decision for it's own benefit. Remember, it is not in national interest. Underestimating people power is Congress high command naive thinking. Both Andhra Pradesh and Narendra Modi / Gujarat fires are very serious in nature. This is happened with Punjab or Tamils. The problems seemingly under control initially consumed many.
Partition of India, Punjab, Bangladesh, Tamils all have catapulted them into power. But on each of these occasions, most of the Indians paid heavy price. Playing with fire is not good politics. It will bound to consume. Will it be lucky again?
During the initial decade of Indian independence, the national building was molded by absolute desire to make India a Great nation on the earth. Building dams, making foundations for solid education system and more importantly learning to live peacefully unlike separated cousin Pakistan are few good examples. While India can positively cheer of it's progress, over the period of time Congress politics has come down to single agenda - Survival. For this, beginning 60's - Congress started playing with fire. First it applied the schema with in the party and tested. Then, applied externally. The game plan has been simple. Invent a problem - put the opposition parties (or opponents) in defense, divide them, gather votes on cheap popular agenda, or talk moral high ground, deceive the public and return to the power.
Interestingly, this Congress game plan was a huge success. Indira Gandhi became Goddess Durga. Bangladesh was created. Along with that, came India's first national crisis. The nation, which was by and large living in peace was flooded with Bangladeshi refugees. What Congress (and Indian Government) do know but would not admit is - since 1971, when Bangladesh created the Hindu population is rapid declining. For any statistics, if these Hindu's are running away from Bangladesh - then they must be the refugees in India. But, most of the refugees are Muslims. They arrived (keep up the inflows still) initially into Assam and West Bengal. Over the course of years, all these refugees slowly seep into India's hinterland. Shiv Sena which cries foul of these refugees in Mumbai is branded a communal party. For the vote bank politics, Congress would use the secular agenda and join with the other so called secular forces to undermine the problem. Most of the people knew Assam and other north Eastern states, West Bengal are simmering with communal fire. It is a matter of time - it will blow up, after the intermittent flareups seen occasionally. Infernos would be imminent. For Congress party survival by Congress Party.
Back in 80's Congress had difficulty with Akalis in Punjab. Akalis - a Sikh Party for protecting Sikhs interest. Congress had a difficulty with them. To counter Akalis, Congress incited alternative power politics. The richest state suffered for decades, host of innocent citizens were killed. When their alternative, Brindanwale became a liability - the worst events took place Indian history. Golden temple attack, operational blue star, assassination of Indira Gandhi, many senior politicians and Army officers - Sikhs massacre. Congress ignited fire destroyed many dreams and aspirations. Despite all this tragedy congress could get back to power. Congress knew to arbitrage the situation. Rajiv Gandhi took center stage. Indira Gandhi became martyr. Rest forgotten or conveniently ignored.
Rajiv is credited with igniting two fires. One in Ayodhya in Northern India. The Babri Masjid gates were opened - and the turn of events in the subsequent years divided the nations communal fabric. However, for all this Congress found another Prime Minister to wash off hands. Despite all this, congress party survival in Utter Pradesh is marginalized by communal, Secular and religious parties. Even then, Congress still works with them for their survival. Rajiv Gandhi's other fire was in down south. Tamil issue. In the end, the fire consumed Rajiv himself. Yet, for survival Congress party work closely with the parties that sympathized Rajiv assassins. Again, for existence, survival is the key and for survival power is the key. Congress knows this better than any other political party in India.
After going into oblivion for a decade, Congress returned this time with Sonia Gandhi's agenda. This time, Congress is playing with two fires. We are not sure what would be the eventual outcome. While the Gujarat and hunting Narendra Modi is is an opportunity to be exploited - Telengana is it's own creation. For more than a decade, they are playing with a state and it's people precariously. They created leaders, invented formulas, confused the nation for their survival. Congress is bound to take the decision for it's own benefit. Remember, it is not in national interest. Underestimating people power is Congress high command naive thinking. Both Andhra Pradesh and Narendra Modi / Gujarat fires are very serious in nature. This is happened with Punjab or Tamils. The problems seemingly under control initially consumed many.
Partition of India, Punjab, Bangladesh, Tamils all have catapulted them into power. But on each of these occasions, most of the Indians paid heavy price. Playing with fire is not good politics. It will bound to consume. Will it be lucky again?
Saturday, June 22, 2013
Falling Currency - India Story
My mother is well into here eighties. She was not educated at Harvard like India's Finance Minister Palaniappan Chidambaram nor at Oxbridge like Indian Prime minister Dr Manmohan Singh. She stopped her studies perhaps in her middle school.
When I was a kid, lot of our aunts, uncles, cousins and close relatives used to visit our home regularly. Being in a relatively better of middle class family and respectable position in society - my mothers kindness was paramount for most of my relatives. They used to take favors - from money to gifts - that were never returned nor reciprocated.
All my relatives knew one thing for sure. It is not easy to get the favors from my mother easily. But they all knew one trick. My mothers weakness was flattery. All my relatives mastered this art while coming to home and in due to course of conversations trap her emotionally to get the best. As I grew up, I used to feel - there is something seriously amiss. This flattery was weaved around my mothers wealth, family legacy, magnanimity and auspicious blessing and kindness. While it may not be completely false - the fact is, these magnified statements often stretched beyond the reality. In due course - my mother bestowed relatives with Gold or Silver ornaments, given money without asking to return and spent best part of her young and middle ages extending support of all kind. It took very long time and bruises to understand what actually went wrong. But damage was already done. She still repents for her deeds.
In early 2000 while in India, I picked up couple of newspapers and magazines. All the newspapers were full of positive stories of India. There were "real" stories of "real people" who have become instantly rich and moved from poverty to skyscrapers of Bombay. While European / US airlines were operating in budget mode, Kingfisher and Jet airways were seen as emerging global leaders. Infosys or TCS were clearly identified to lead the tech world. Indian economy was expected to break all the records and set to become worlds 2nd or 3rd if not the top. It was a miracle story of all kinds. Some one said that all the back office jobs would be in India and it was predicted to become - worlds Service hub. Bangalore would take over Shangai and perhaps Mumbai would takeover London or NY. Manmohan Singh was called the best educated head of a country in the world. Sonia Gandhi was named worlds most powerful lady. In a nutshell, the Chindia is the place to be in 21st Century.
All the above in the first place was not said by Indians. The books like "World is Flat", papers in London FT, New York times, or Harvard Business review to mention a few are the architects of these stories. Nandan Nilakani or NR Narayana Murthy have defined visions for India and became poster boys primarily for the Western world. Falsely - likes of Indra Nooyi, Rajat Gupta, Vinod Khosla who are American citizens have been branded and parceled in the India shining story. While there is no denial of some facts, the reality is far different from this approbation. The truth and reality have been buried under the flattery and hype. India lost the race for the good.
As the reality kicks in - today Indian political and executive leadership is clueless. Forget the vision of India they do not have a strategy for next week or month. The Harvard, Yale, Cambridge or Oxford educated world class Indian economists, now are at Bernanke's mercy. Globalized economy is like a Global game. China's PMI, Greece bailout, or a Fed statement would send jitters.
The key question though - is India prepared to play this highly sophisticated game? The crux of the issue is - Indian Political class buried under flattery or hype for past two decades sell lies to their citizens. "Don't worry about falling dollar or do not buy gold" are perhaps few of the examples. Their ego and constant denial of facts is accelerating the downward moment. Even more worrying is the consensus politics and heavy focus on the secular agenda of the best educated PM and the most powerful lady on the earth. Rupee value, dwindling foreign reserves or serial non-abating corruption scandals are real barometers of potentially a great nation.
My mother in her 70s understood the menace of flattery. She became realistic and understood the rules of the game. In the end, she could limit the damage. But, the Oxbridge educated Dr Singh who has been advertised the architect of Indian economic reforms is falling under his own pressure.
As long as Indian people elect (even indirectly) these false visionaries and continue to keep them in these vital offices - rupee would keep falling further and further.
Be realistic!
When I was a kid, lot of our aunts, uncles, cousins and close relatives used to visit our home regularly. Being in a relatively better of middle class family and respectable position in society - my mothers kindness was paramount for most of my relatives. They used to take favors - from money to gifts - that were never returned nor reciprocated.
All my relatives knew one thing for sure. It is not easy to get the favors from my mother easily. But they all knew one trick. My mothers weakness was flattery. All my relatives mastered this art while coming to home and in due to course of conversations trap her emotionally to get the best. As I grew up, I used to feel - there is something seriously amiss. This flattery was weaved around my mothers wealth, family legacy, magnanimity and auspicious blessing and kindness. While it may not be completely false - the fact is, these magnified statements often stretched beyond the reality. In due course - my mother bestowed relatives with Gold or Silver ornaments, given money without asking to return and spent best part of her young and middle ages extending support of all kind. It took very long time and bruises to understand what actually went wrong. But damage was already done. She still repents for her deeds.
In early 2000 while in India, I picked up couple of newspapers and magazines. All the newspapers were full of positive stories of India. There were "real" stories of "real people" who have become instantly rich and moved from poverty to skyscrapers of Bombay. While European / US airlines were operating in budget mode, Kingfisher and Jet airways were seen as emerging global leaders. Infosys or TCS were clearly identified to lead the tech world. Indian economy was expected to break all the records and set to become worlds 2nd or 3rd if not the top. It was a miracle story of all kinds. Some one said that all the back office jobs would be in India and it was predicted to become - worlds Service hub. Bangalore would take over Shangai and perhaps Mumbai would takeover London or NY. Manmohan Singh was called the best educated head of a country in the world. Sonia Gandhi was named worlds most powerful lady. In a nutshell, the Chindia is the place to be in 21st Century.
All the above in the first place was not said by Indians. The books like "World is Flat", papers in London FT, New York times, or Harvard Business review to mention a few are the architects of these stories. Nandan Nilakani or NR Narayana Murthy have defined visions for India and became poster boys primarily for the Western world. Falsely - likes of Indra Nooyi, Rajat Gupta, Vinod Khosla who are American citizens have been branded and parceled in the India shining story. While there is no denial of some facts, the reality is far different from this approbation. The truth and reality have been buried under the flattery and hype. India lost the race for the good.
As the reality kicks in - today Indian political and executive leadership is clueless. Forget the vision of India they do not have a strategy for next week or month. The Harvard, Yale, Cambridge or Oxford educated world class Indian economists, now are at Bernanke's mercy. Globalized economy is like a Global game. China's PMI, Greece bailout, or a Fed statement would send jitters.
The key question though - is India prepared to play this highly sophisticated game? The crux of the issue is - Indian Political class buried under flattery or hype for past two decades sell lies to their citizens. "Don't worry about falling dollar or do not buy gold" are perhaps few of the examples. Their ego and constant denial of facts is accelerating the downward moment. Even more worrying is the consensus politics and heavy focus on the secular agenda of the best educated PM and the most powerful lady on the earth. Rupee value, dwindling foreign reserves or serial non-abating corruption scandals are real barometers of potentially a great nation.
My mother in her 70s understood the menace of flattery. She became realistic and understood the rules of the game. In the end, she could limit the damage. But, the Oxbridge educated Dr Singh who has been advertised the architect of Indian economic reforms is falling under his own pressure.
As long as Indian people elect (even indirectly) these false visionaries and continue to keep them in these vital offices - rupee would keep falling further and further.
Be realistic!
Wednesday, March 20, 2013
Battered Tamils and Myopic Indian Politics
When it comes to external affairs - very few nations fail to display the unanimous solidarity. There are exceptions as well. All such exceptions though are ominous signals. Currently Syria, earlier Iraq or Egypt experienced these symptoms prior to collapse then regimes. It may be harsh to compare India with these less democratic countries. However, the recent episodes and emanating symptoms invariably lead to this question. Let's take the simple issue of Italian marines who have been arrested following fishermen incident off the Kerala coast. Already the issue has been shifted from the culprits to Italian Ambassador. Today, India landed itself into a very vulnerable diplomatic situation putting it's international credibility at risk. The fundamental problem for a distant observer is - who in charge of the affairs? Prime Minister, External Affairs Minister, Home Minister, Supreme Court Of India or Sonia Gandhi. Beneath this affair, the conspiracy theories surrounding the Augusta Helicopter scheme is gaining strong ground. Perhaps, cut off the relations or damage them for a a while, and kill or bury the scam. If it is true, then the political gains are fraction of the wider damage
Now coming to Sri Lanka Tamils issue. For any close observer from Indian side, it is impossible to gauge India's true and consistent position. In early 1980's LTTE were India's revered guests. At one time they had direct access to the power corridors of New Delhi and Madras (Chennai). Things took a dramatic turn, after Rajiv Gandhi's intervention with IPKF. While the persistent sympathizers of LTTE and Srilankan Tamils existed in Tamil Nadu hinterlands - Rajiv Gandhi's assassination changed the equations. While DMK and AIDMK played ping pong with this issue mostly while in the opposition benches, of late for either of them Sri Lanka Tamils have become symbolic identity on the lines of BJPs Hindutva slogan.
During the course of past 2 decades, the Sri Lankan Government globalized their diplomatic relationships beyond being India's little sister. The strategic location and natural resources and many other factors including India itself attracted India arch rivals like China and Pakistan to their closer proximity. Following departure of Vajpayee, India's diplomatic policies as well got into the hands of the powerful regional allies. Bangladesh policy by Mamata Benerjee is a good example. This is the dangerous trend. Pakistan policy is implicitly dictated by pro-muslim secular parties who have no understanding of wider reputations beyond vested interests in their local Muslim vote bank.
Surprisingly though, when it comes to Sri Lanka Tamils, even the hardcore Tamil parties lacked basic strategy. Only after Channel 4 revelation of Prabhakaran's son Balachandran's killing collective public emotions got charged in Tamil Nadu. Karunanidhi and DMK have their own compulsions. With the reports coming out recently indicating, Raja (the 2G fame) acted with the full confidence of Manmohan Singh and Chidambaram, naturally DMK wants to settle the scores. Also, the Tamil parties have the pulse of nations mood. The know how to align quickly with the ruling party at New Delhi. Elections are not far - and it is the time to turn the tables! For them Hindutva, Muslims, Hindi or anything else is only after their Tamil interest.
Unfortunately, Karunanidhi picked up perhaps a right issue in a wrong context. Manmohan Singh and Sonia Gandhi thought, it is better let DMK go out of their coalition than risking Sri Lanka Government. Then, foolishly they have put the resolution for discussion in Parliament. There are no takers other than the two Tamil Parties. India proved it's timidity on one of the important international issue. All the political class has been exposed in black and white.
Now the consequences for those innocent Sri Lankan Tamils are far reaching. Sri Lanka Government is now assured of India's non-interference. After all the pogroms and alleged ethnic cleansing - the Sri Lanka Government knows - they still have got plenty of time to complete the unsettled business. Karunanidhi purely for his myopic political gains picked up a wrong issue at an inappropriate time.
For India, the symptoms are getting bigger and consistent. The recent episode adds to the long list of internal diplomatic blunders of this UPA government. What India lacks today is leadership - a Indira Gandhi or Lalbahadur Shastri or Vajpayee would not have let these blunders happened.
Now coming to Sri Lanka Tamils issue. For any close observer from Indian side, it is impossible to gauge India's true and consistent position. In early 1980's LTTE were India's revered guests. At one time they had direct access to the power corridors of New Delhi and Madras (Chennai). Things took a dramatic turn, after Rajiv Gandhi's intervention with IPKF. While the persistent sympathizers of LTTE and Srilankan Tamils existed in Tamil Nadu hinterlands - Rajiv Gandhi's assassination changed the equations. While DMK and AIDMK played ping pong with this issue mostly while in the opposition benches, of late for either of them Sri Lanka Tamils have become symbolic identity on the lines of BJPs Hindutva slogan.
During the course of past 2 decades, the Sri Lankan Government globalized their diplomatic relationships beyond being India's little sister. The strategic location and natural resources and many other factors including India itself attracted India arch rivals like China and Pakistan to their closer proximity. Following departure of Vajpayee, India's diplomatic policies as well got into the hands of the powerful regional allies. Bangladesh policy by Mamata Benerjee is a good example. This is the dangerous trend. Pakistan policy is implicitly dictated by pro-muslim secular parties who have no understanding of wider reputations beyond vested interests in their local Muslim vote bank.
Surprisingly though, when it comes to Sri Lanka Tamils, even the hardcore Tamil parties lacked basic strategy. Only after Channel 4 revelation of Prabhakaran's son Balachandran's killing collective public emotions got charged in Tamil Nadu. Karunanidhi and DMK have their own compulsions. With the reports coming out recently indicating, Raja (the 2G fame) acted with the full confidence of Manmohan Singh and Chidambaram, naturally DMK wants to settle the scores. Also, the Tamil parties have the pulse of nations mood. The know how to align quickly with the ruling party at New Delhi. Elections are not far - and it is the time to turn the tables! For them Hindutva, Muslims, Hindi or anything else is only after their Tamil interest.
Unfortunately, Karunanidhi picked up perhaps a right issue in a wrong context. Manmohan Singh and Sonia Gandhi thought, it is better let DMK go out of their coalition than risking Sri Lanka Government. Then, foolishly they have put the resolution for discussion in Parliament. There are no takers other than the two Tamil Parties. India proved it's timidity on one of the important international issue. All the political class has been exposed in black and white.
Now the consequences for those innocent Sri Lankan Tamils are far reaching. Sri Lanka Government is now assured of India's non-interference. After all the pogroms and alleged ethnic cleansing - the Sri Lanka Government knows - they still have got plenty of time to complete the unsettled business. Karunanidhi purely for his myopic political gains picked up a wrong issue at an inappropriate time.
For India, the symptoms are getting bigger and consistent. The recent episode adds to the long list of internal diplomatic blunders of this UPA government. What India lacks today is leadership - a Indira Gandhi or Lalbahadur Shastri or Vajpayee would not have let these blunders happened.
Saturday, December 29, 2012
Remembering the unfortunate Women of India
It is only a matter of the time all the outbursts across the nation, shock and grief would fade away once the great nation get into the joy of new year celebrations. Already, all the neta's and babu's have given their well prepared statements and, soon the Delhi rape case would enter the annals. The brave girl who fought for 13 days of post-brutalities would be forgotten by one and all. The common man would come to terms and get busy with the daily routine. The political class would score their points, by explaining that no stone was left unturned. Their "claim" of best medical treatment and chartered flights to Singapore would be suffice to beg for votes. The cynical opposition would call for the justice, abetting few hartals conveniently forgetting their own track record while in the power.
What baffles me is of accountability. When I was a school, my teacher told me a story of moral accountability of a political leader. In 1950's while Lal bahadur Shastri was the Railway minister, a train accident in South India killed many passengers. Shastri immediately submitted his resignation to Nehru, then Prime Minister taking on full responsibility for the incident. Despite Nehru's persuasion, Shastri ji, did not yield. Finally, While accepting the resignation Nehru said "I personally do not believe Shastri ji was in any way responsible for this incident - yet, I am accepting his resignation to set high standards in public life" Shastri did not even use his official car to get back to his home. There are many train accidents since Shastri's decision, yet the decision was a moral high ground. The sense of guilt permeated across all those who failed in their duties.
Now coming back to the present incident, the political class, spin doctors and the media have conveniently shifted the blame and accountability on to those six beasts. All the powerful law makers and the law keepers - including but not limited to Sonia Gandhi, Manmohan Singh, Sheila Dixit, Sushil Kumar Shinde, Neeraj Kumar (the Delhi Police Commissioner), Union Home Ministry, Delhi Law and Order have spent all time and energy to "damage control" or "media management". None of them have guts to come out any take moral responsibility for the shocking incident. In essence, this incident or series of incidents of this nature summarize the state of the nation. All of them are well aware of the proven fact "collective public memory is poor". Today the nation suffers from "excessive" paranoia
A permanent stark reminder is an imminent requirement of these times. On the lines of memories for the fallen soldiers, on the lines of the glorified graves for the political leaders who failed of their responsibilities. There is no better place than - area around India Gate in Central Delhi. A memorial for Bharat nari, with the in scripted names of known and unknown women who have fallen victims and brutalities on account of - lust of a man, greed of a woman, madness of a religion, convenience of a cast, arrogance of power, freedom of political class or any of the thousandth reason.
Let the nation remember them on 26th Jan and 15th Aug of each year!
What baffles me is of accountability. When I was a school, my teacher told me a story of moral accountability of a political leader. In 1950's while Lal bahadur Shastri was the Railway minister, a train accident in South India killed many passengers. Shastri immediately submitted his resignation to Nehru, then Prime Minister taking on full responsibility for the incident. Despite Nehru's persuasion, Shastri ji, did not yield. Finally, While accepting the resignation Nehru said "I personally do not believe Shastri ji was in any way responsible for this incident - yet, I am accepting his resignation to set high standards in public life" Shastri did not even use his official car to get back to his home. There are many train accidents since Shastri's decision, yet the decision was a moral high ground. The sense of guilt permeated across all those who failed in their duties.
Now coming back to the present incident, the political class, spin doctors and the media have conveniently shifted the blame and accountability on to those six beasts. All the powerful law makers and the law keepers - including but not limited to Sonia Gandhi, Manmohan Singh, Sheila Dixit, Sushil Kumar Shinde, Neeraj Kumar (the Delhi Police Commissioner), Union Home Ministry, Delhi Law and Order have spent all time and energy to "damage control" or "media management". None of them have guts to come out any take moral responsibility for the shocking incident. In essence, this incident or series of incidents of this nature summarize the state of the nation. All of them are well aware of the proven fact "collective public memory is poor". Today the nation suffers from "excessive" paranoia
A permanent stark reminder is an imminent requirement of these times. On the lines of memories for the fallen soldiers, on the lines of the glorified graves for the political leaders who failed of their responsibilities. There is no better place than - area around India Gate in Central Delhi. A memorial for Bharat nari, with the in scripted names of known and unknown women who have fallen victims and brutalities on account of - lust of a man, greed of a woman, madness of a religion, convenience of a cast, arrogance of power, freedom of political class or any of the thousandth reason.
Let the nation remember them on 26th Jan and 15th Aug of each year!
Tuesday, June 26, 2012
Adieu to a mediocre Finance Minister of India
Roughly a decade ago one of my highly ambitious friend claimed that at the rate of India economic growth, decent jobs in Western world would dry up. India was shining, is a often repeated slogan. A new word Chindia was coined to represent the two super fast economies of the world. In one of the surveys, Indians were rated the happiest people in the world. The word pessimism was not in dictionary. During one of my trips to India, the sings are clearly visible. Specially, the young generation was sounding very optimistic and confident. A few stories like a 22 year old buying car and then gifting to her father, who worked all his life hard and remained a middle class retiree caught my attention. It was incredible, as the social mobility appeared like a cat walk.
FII's the ghost entities of Western world were scripting all the great stories. The prediction was BSE Sensex would touch 50000. The flow of dolllar funds were unabated. The poster boys for Economic Times were ubiquitous. India was soon predicted to over take most of the Western Economies with the exception of US.
All that was going well under sunshine changed abruptly, post Vajpayee era. The good omen and promise of sustained momentum under Manmohan Singh rapidly faded. In a short span of two or three years, India lost it's direction. In a nutshell the clumsy politics punctured the growth engine and since then, India went deep into the crisis as days, weeks and months passed by. Scams and corruption scandals ejected out the development. Some of the poster boys along with good number of political companions landed in the iconic Tihar jail.
As the nation lacked vision and direction myopic politicians with no credible public record took the front seat. Almost a modern day story evolved on the lines of the Indian classic Mahabharata. The people with moral authority remained blind and dumb. There is no Governance as such with regional issues ranging from Telangana or political compulsions or brickbats taking front seat while nation and it's citizens were left to their own fate.
India today tops list of suicides in the world. More alarmingly, the the highest concentration of these numbers are in the age group 15-29, who were the most confident and ambitious a decade ago.Nepotism is now, the twin cousin of the corruption in India. It is mandatory and unwritten criteria that next generation Politicians, Businessmen, Film actors, Media moguls must come from the same families. Social mobility is severely restricted at this juncture than any time in past 60 odd years.
If the issues are so gigantic in nature, then why our Finance Minister and his mediocre performance matters? By the admission of Congress, Pranab Mukherjee is the intellect, brilliant, sharp and great performer. His yeoman services both to the Congress Party and nation are unparalleled. If this is the view of Congress Party, the main concern is what will happen to nation from tomorrow? The Government will be left orphaned without a trouble shooter (glorified Spin Doctor).
The FM simply not presided over an anemic economy but, a consistently going down the hill GDP without any policy support. With high inflation making life of 99%'s India's hell, this is the FM who defined Rs26 / day earning is above poverty line. The FM presided over an economy, that by all the consensus is derailed as reported by FII and Credit rating agencies. The same Institutions whom they referenced constantly, during the sunshine years are now condemned for their views on the economy. While service sector and manufacturing are bearing the burnt of the policy, Technology sector may survive thanks to fast depreciating rupee. After 20 years baton came back to Manmohan Singh who often been claimed as architect of Indian economic reforms. Under the current circumstances, not even Dr Singh expect much to deliver.
If I fail to perform at work, I will be demoted or shown exit door. However, the FM who delivered worst economic figures has been promoted and sent to Rastrapthi Bhavan.
Incredible India!
FII's the ghost entities of Western world were scripting all the great stories. The prediction was BSE Sensex would touch 50000. The flow of dolllar funds were unabated. The poster boys for Economic Times were ubiquitous. India was soon predicted to over take most of the Western Economies with the exception of US.
All that was going well under sunshine changed abruptly, post Vajpayee era. The good omen and promise of sustained momentum under Manmohan Singh rapidly faded. In a short span of two or three years, India lost it's direction. In a nutshell the clumsy politics punctured the growth engine and since then, India went deep into the crisis as days, weeks and months passed by. Scams and corruption scandals ejected out the development. Some of the poster boys along with good number of political companions landed in the iconic Tihar jail.
As the nation lacked vision and direction myopic politicians with no credible public record took the front seat. Almost a modern day story evolved on the lines of the Indian classic Mahabharata. The people with moral authority remained blind and dumb. There is no Governance as such with regional issues ranging from Telangana or political compulsions or brickbats taking front seat while nation and it's citizens were left to their own fate.
India today tops list of suicides in the world. More alarmingly, the the highest concentration of these numbers are in the age group 15-29, who were the most confident and ambitious a decade ago.Nepotism is now, the twin cousin of the corruption in India. It is mandatory and unwritten criteria that next generation Politicians, Businessmen, Film actors, Media moguls must come from the same families. Social mobility is severely restricted at this juncture than any time in past 60 odd years.
If the issues are so gigantic in nature, then why our Finance Minister and his mediocre performance matters? By the admission of Congress, Pranab Mukherjee is the intellect, brilliant, sharp and great performer. His yeoman services both to the Congress Party and nation are unparalleled. If this is the view of Congress Party, the main concern is what will happen to nation from tomorrow? The Government will be left orphaned without a trouble shooter (glorified Spin Doctor).
The FM simply not presided over an anemic economy but, a consistently going down the hill GDP without any policy support. With high inflation making life of 99%'s India's hell, this is the FM who defined Rs26 / day earning is above poverty line. The FM presided over an economy, that by all the consensus is derailed as reported by FII and Credit rating agencies. The same Institutions whom they referenced constantly, during the sunshine years are now condemned for their views on the economy. While service sector and manufacturing are bearing the burnt of the policy, Technology sector may survive thanks to fast depreciating rupee. After 20 years baton came back to Manmohan Singh who often been claimed as architect of Indian economic reforms. Under the current circumstances, not even Dr Singh expect much to deliver.
If I fail to perform at work, I will be demoted or shown exit door. However, the FM who delivered worst economic figures has been promoted and sent to Rastrapthi Bhavan.
Incredible India!
Thursday, December 29, 2011
Difference between Congress and BJP
BJP the Center-Right "Hindu Nationalist" Party and the Congress Center-Left "Secular Nationalist" Party constantly try and prove to Indians that they are parallel tracks that would never converge at any point. For Congress, BJP is a RSS sponsored Religious party with roots into Upper Caste Hindu's. BJP rarely speaks of Congress party genesis. However, Congress considers itself sole protector of the Secular India.
Half way between the Left and Right, we see the Center. Here is the common ground for both the parties.
Every party while in the opposition benches talks for Poor, downtrodden, vulnerable, farmers, minority religions and then minorities with in the Religions. In a nutshell, to get back the political power, this class of the citizens are their core vote banks. Politicians far exceed Mathematicians and Physicists to invent n-dimensional world where in they can group vote banks en-mass into various dimensions. BJP in New Delhi and Congress in Gujarat apply the same principle - divide and attract the vote banks. And then cultivate them with the false promises.
Once in the power, Congress or BJP get into the hands of Power brokers and lobbyists. The right wing, Hindutva BJP despite being in the power for close to a decade could not build the Ram Mandir at Ayodhya. If BJP wants, building the temple is not difficult. Yet, BJP knew very well that Ram Mandir and Lord Rama are their trump cards to come in handy while in opposition. Without these, for BJP leadership there are no Rathyatras.
On to the corruption, BJP leadership thinks that, there are no A.Raja's in their backyard and hence they are holy and a clean party. But, their own RSS child Yeddiyurappa in Bangalore and Reddy brothers are symbols and results of their power and brokerages respectively. Despite all the talk on Bofors and huge parliamentary debates, BJP could not unearth anything on the mother of all Indian scams. Naturally, while in power - both would drift to Center and mutual interests have to be protected. In essence, despite all the talk of corruption in the Government, once they swap their benches both Congress and BJP tactically protect each other.
Congress unlike BJP does not suffer from the symbolic leadership. Unless Rahul Gandhi remains bachelor, Gandhi tag is good enough to see Congress through for some decades to come. But, Utter Pradesh elections would confirm the best and worst of Rahul "the Prince" Gandhi. For BJP, the serious issue is - no one is fitting into the shoes of Atal Bihari Vajpayee. Narendra Modi, despite hugely successful, remains with in Gujarat for now. Advani at best is a failure to lead from the front and rest of the Delhi bridge are spin doctors.
Congress projects itself Secular. The unfortunate Babri Masjid issue is nothing to do with Congress (PV Narasimha Rao is the culprit though the commission investigated this demolition absolved him completely). But anti-Sikh riots of 1984 (Rajiv Gandhi), atrocities during emergency (Indira Gandhi) and partition of British India (Nehru) still goes into the Congress Party account. Yet, Narendrabhai Modi is the biggest sinner of all time for Godhra. BJP genesis with in the Upper Caste Hindu's took a beating in Utter Pradesh where Mayawati proved smarter and merged this vote bank into her dalit vote.
Despite all the opposition to the Economic liberalisation of 1990's by Congress, Vajpayee Government was miles ahead with FDI and opening up the economy than Manmohan Singh government of past 7 years. BJP track record in this space is lot better thanks to Mahajan's and Jaitley's. But interestingly though, these (including Vajpayee and Advani) are hard core nationalists born from grassroots of RSS
Looking at BJP and Congress since 1990, I think both are simply other side of the coin. Switching the roles while out of power and then, implementing the same policies once in power. Center-Right and Center-Left are simply notional and hypothetical stand to appeal to their core vote bank. In the end, both of them love America, happily work with lobbyists, criticise Pakistan in the similar tone, open up the economy and give a false image "India Shining".
Lokpal bill is neither on Left nor on Right. It is on the Center and hence, both BJP and Congress together ensured that Anna Hazare and in turn Citizens of India are defeated in the name of democracy.
Half way between the Left and Right, we see the Center. Here is the common ground for both the parties.
Every party while in the opposition benches talks for Poor, downtrodden, vulnerable, farmers, minority religions and then minorities with in the Religions. In a nutshell, to get back the political power, this class of the citizens are their core vote banks. Politicians far exceed Mathematicians and Physicists to invent n-dimensional world where in they can group vote banks en-mass into various dimensions. BJP in New Delhi and Congress in Gujarat apply the same principle - divide and attract the vote banks. And then cultivate them with the false promises.
Once in the power, Congress or BJP get into the hands of Power brokers and lobbyists. The right wing, Hindutva BJP despite being in the power for close to a decade could not build the Ram Mandir at Ayodhya. If BJP wants, building the temple is not difficult. Yet, BJP knew very well that Ram Mandir and Lord Rama are their trump cards to come in handy while in opposition. Without these, for BJP leadership there are no Rathyatras.
On to the corruption, BJP leadership thinks that, there are no A.Raja's in their backyard and hence they are holy and a clean party. But, their own RSS child Yeddiyurappa in Bangalore and Reddy brothers are symbols and results of their power and brokerages respectively. Despite all the talk on Bofors and huge parliamentary debates, BJP could not unearth anything on the mother of all Indian scams. Naturally, while in power - both would drift to Center and mutual interests have to be protected. In essence, despite all the talk of corruption in the Government, once they swap their benches both Congress and BJP tactically protect each other.
Congress unlike BJP does not suffer from the symbolic leadership. Unless Rahul Gandhi remains bachelor, Gandhi tag is good enough to see Congress through for some decades to come. But, Utter Pradesh elections would confirm the best and worst of Rahul "the Prince" Gandhi. For BJP, the serious issue is - no one is fitting into the shoes of Atal Bihari Vajpayee. Narendra Modi, despite hugely successful, remains with in Gujarat for now. Advani at best is a failure to lead from the front and rest of the Delhi bridge are spin doctors.
Congress projects itself Secular. The unfortunate Babri Masjid issue is nothing to do with Congress (PV Narasimha Rao is the culprit though the commission investigated this demolition absolved him completely). But anti-Sikh riots of 1984 (Rajiv Gandhi), atrocities during emergency (Indira Gandhi) and partition of British India (Nehru) still goes into the Congress Party account. Yet, Narendrabhai Modi is the biggest sinner of all time for Godhra. BJP genesis with in the Upper Caste Hindu's took a beating in Utter Pradesh where Mayawati proved smarter and merged this vote bank into her dalit vote.
Despite all the opposition to the Economic liberalisation of 1990's by Congress, Vajpayee Government was miles ahead with FDI and opening up the economy than Manmohan Singh government of past 7 years. BJP track record in this space is lot better thanks to Mahajan's and Jaitley's. But interestingly though, these (including Vajpayee and Advani) are hard core nationalists born from grassroots of RSS
Looking at BJP and Congress since 1990, I think both are simply other side of the coin. Switching the roles while out of power and then, implementing the same policies once in power. Center-Right and Center-Left are simply notional and hypothetical stand to appeal to their core vote bank. In the end, both of them love America, happily work with lobbyists, criticise Pakistan in the similar tone, open up the economy and give a false image "India Shining".
Lokpal bill is neither on Left nor on Right. It is on the Center and hence, both BJP and Congress together ensured that Anna Hazare and in turn Citizens of India are defeated in the name of democracy.
Thursday, December 22, 2011
Remembering PV Narasimha Rao
Dark clouds were at horizon. Nation's credibility was at risk. Untenable policies of successive Governments and the political uncertainties have brought the countries economy to the brink of collapse. Coalition politics have slowly taken grip over the national political scene. Government and Public sectors were predominant employers. There is no private sector. Economy was closed. Brightest from the top Universities were planning their US Visa in their penultimate years. Less intelligent and less well off settled for less. There was no entrepreneurship. Bureaucracy was ultimate power. In a nutshell there was no hope for young, middle aged, old. Across the board pessimism was at it's zenith. That was 1990-91.
There were not many options left for the political leadership. Action, Vision and Direction were the key to steer India out of crisis. At this juncture, semi-retired PV Narasimha Rao became the Prime Minister of India. Nation was not expecting anything extraordinary from this frail Southerner. For the Congress mafia of the day, Rao for a temporary option.
Rao took boldest decisions to open up the economy. As Lord Krishna said in Bhagavad Gita "Action is the key. Do not worry about the results. Do not seek the fruits of the action", Rao gave complete freedom to Manmohan Singh, his handpicked Finance Minister and stood behind him like a solid rock. Being in a minority Government, Rao faced huge challenges. Despite his poor political capital, Rao stuck to his plan and vision.
Derailed economy was brought back on to the right tracks to grow at more than 8%. Rao took some key and strategic foreign policy decisions during his Administration. Settled many simmering issues through his inaction. Slowly but surely for good, typical Socialist mindset of average Indian has been changed for good.
Green shoots of opportunities have emerged for the intelligent and talented. Information Technology, Healthcare, Pharmaceuticals, Media, Telcom, Automobile sectors have seen unprecedented growth. Neo-Rich and middle classes have burgeoned. Nearly for 18 of the last 20 years, average Indian optimism rocketed. During the course of time, Indians have earned a brand name - not snake charmers or poor children of the Raj anymore.
Though there were shortcomings, PV Narasimha Rao is by far the best Prime Minister of India who delivered substantial for the good of nation and it's citizens
Two decades after PV laid the foundations for the policy reforms and implemented them, today sadly though, India appears to be back at the square one. Manmohan Singh who hijacked larger credit, than due for his role as Finance Minister in 1991-96, is presiding over an economy that lost all the steam and direction. Deeply sunk into the corruption scandals and coalition politics compulsions, India at the best is at cross roads since 2009.
Today India direly needs a Leader of Vision, Action and Direction. A Leader who would put Nation's interests over their Personal Agenda. A Leader who is brave enough to face the challenges and put the nation on the right direction, instead of looking for excuses. A Leader whose vision would steer the nation for many decades to come.
For a nation and political class that has almost forgotten PV this is a token remembrance on his death Anniversary on 23rd Dec 2011, from an average Indian who benefited immensely from PV Narasimha Rao's strategic policy changes.
There were not many options left for the political leadership. Action, Vision and Direction were the key to steer India out of crisis. At this juncture, semi-retired PV Narasimha Rao became the Prime Minister of India. Nation was not expecting anything extraordinary from this frail Southerner. For the Congress mafia of the day, Rao for a temporary option. Rao took boldest decisions to open up the economy. As Lord Krishna said in Bhagavad Gita "Action is the key. Do not worry about the results. Do not seek the fruits of the action", Rao gave complete freedom to Manmohan Singh, his handpicked Finance Minister and stood behind him like a solid rock. Being in a minority Government, Rao faced huge challenges. Despite his poor political capital, Rao stuck to his plan and vision.
Derailed economy was brought back on to the right tracks to grow at more than 8%. Rao took some key and strategic foreign policy decisions during his Administration. Settled many simmering issues through his inaction. Slowly but surely for good, typical Socialist mindset of average Indian has been changed for good.
Green shoots of opportunities have emerged for the intelligent and talented. Information Technology, Healthcare, Pharmaceuticals, Media, Telcom, Automobile sectors have seen unprecedented growth. Neo-Rich and middle classes have burgeoned. Nearly for 18 of the last 20 years, average Indian optimism rocketed. During the course of time, Indians have earned a brand name - not snake charmers or poor children of the Raj anymore.
Though there were shortcomings, PV Narasimha Rao is by far the best Prime Minister of India who delivered substantial for the good of nation and it's citizens
Two decades after PV laid the foundations for the policy reforms and implemented them, today sadly though, India appears to be back at the square one. Manmohan Singh who hijacked larger credit, than due for his role as Finance Minister in 1991-96, is presiding over an economy that lost all the steam and direction. Deeply sunk into the corruption scandals and coalition politics compulsions, India at the best is at cross roads since 2009.
Today India direly needs a Leader of Vision, Action and Direction. A Leader who would put Nation's interests over their Personal Agenda. A Leader who is brave enough to face the challenges and put the nation on the right direction, instead of looking for excuses. A Leader whose vision would steer the nation for many decades to come.
For a nation and political class that has almost forgotten PV this is a token remembrance on his death Anniversary on 23rd Dec 2011, from an average Indian who benefited immensely from PV Narasimha Rao's strategic policy changes.
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