Declaration of assets – Much ado about nothing
After Punjab & Haryana High Court Judge Justice Mr. Kannan and Karnataka HC Judge Justice Mr. Shylendra Kumar declared their assets and brought pressure on Apex Court to declare the assets of Supreme Court Judges also, the elite media is elated. While one segment views it as revolution in transparency in respect of those holding public office, others are euphoric over the effect that such disclosure will have on checking corruption or amassing of wealth by extraneous means by others. It is surprising that the issue has bitten the judiciary from the legislators who have been forced to reveal something during the elections. The effect of affidavits filed by our politicians on the levels of corruption is better not discussed. In this ocean of bribery and manipulation, one can well imagine the impact of disclosure of assets. It can be proudly said that we compare with the developed world where such asset declaration is made by the judiciary. Right from election funding to corporate frauds, the so-called developed nations lag no behind in all things shady and loathsome. These voluntary or administrative measures are cosmetic as in the next 100 years you will not get a property deed registered without bribe, you will not get a motor driving license without bribe or your building plan sanctioned without greasing a few. If from next year, no RTO demands speed money, one can laud the campaign on asset declaration. Pessimistic one may say but reality is often synonymous with it.
Saturday, August 29, 2009
Thursday, August 13, 2009
Independence Day Greetings
Happy Independence Day
More than 6 decades – still the debate rages. Only political freedom and no economic independence – the cry has not changed all these years. We may argue on such controversies but there can hardly be any doubt that India as a nation, need to travel a long way before at least a decent majority is guaranteed of basic necessities. The agenda of development has become so twisted that there are as much opinions as the population itself on what is to be done.
On the one side we have all hi-fi analysis touting the invasion of television in rural households as a giant leap in India’s growth story. The mobile phone revolution and use of hi-tech gadgets by the vegetable vendor is seen as second liberation. Somebody suddenly talks of building temple as the only way forward and later wants to bring back all black money stashed in foreign banks. In the midst of all confusion, gay marriage becomes the number one issue – the reforms in this direction is advocated as the panacea to root out all social evils and to bring India in the league of developed nations.
The avaricious Sensex which is the most insensitive index vis-à-vis all social problems, is the only barometer for the pundits to measure our wellness. For some driving out industry is an achievement. For some naxals are a menace while the corrupt babus and netas are not. Installation of statues will improve the living conditions of the downtrodden and of course, others also. Till the other day, global best practices and integration were proclaimed as sine qua non and now, they say Indian economy managed to save its skin from economic chaos because of relative insulation.
All this apart, starvation deaths continue to be reported. Children and women in remote villages suffer and die of malnutrition, hunger and lack of medical attention. No social security for the aged and infirm who must work till they land in the grave. The more we talk about (in)sensitivity, civic (non)awareness, social (ir)responsibility, etc., the more pessimistic it sounds. Independence Day gives us some time to reflect on what we need and what don’t, where we are headed and where we ought to, what are the values with which our individual and social lives have become polluted and what are the values we should yearn to imbibe…Let me think first rather than being preachy.
More than 6 decades – still the debate rages. Only political freedom and no economic independence – the cry has not changed all these years. We may argue on such controversies but there can hardly be any doubt that India as a nation, need to travel a long way before at least a decent majority is guaranteed of basic necessities. The agenda of development has become so twisted that there are as much opinions as the population itself on what is to be done.
On the one side we have all hi-fi analysis touting the invasion of television in rural households as a giant leap in India’s growth story. The mobile phone revolution and use of hi-tech gadgets by the vegetable vendor is seen as second liberation. Somebody suddenly talks of building temple as the only way forward and later wants to bring back all black money stashed in foreign banks. In the midst of all confusion, gay marriage becomes the number one issue – the reforms in this direction is advocated as the panacea to root out all social evils and to bring India in the league of developed nations.
The avaricious Sensex which is the most insensitive index vis-à-vis all social problems, is the only barometer for the pundits to measure our wellness. For some driving out industry is an achievement. For some naxals are a menace while the corrupt babus and netas are not. Installation of statues will improve the living conditions of the downtrodden and of course, others also. Till the other day, global best practices and integration were proclaimed as sine qua non and now, they say Indian economy managed to save its skin from economic chaos because of relative insulation.
All this apart, starvation deaths continue to be reported. Children and women in remote villages suffer and die of malnutrition, hunger and lack of medical attention. No social security for the aged and infirm who must work till they land in the grave. The more we talk about (in)sensitivity, civic (non)awareness, social (ir)responsibility, etc., the more pessimistic it sounds. Independence Day gives us some time to reflect on what we need and what don’t, where we are headed and where we ought to, what are the values with which our individual and social lives have become polluted and what are the values we should yearn to imbibe…Let me think first rather than being preachy.
Tuesday, June 9, 2009
Run up to Budget 2009-10
Will Budget Premier League deliver?
JUNE 09,2009
By Subhashree Kishore
IT is time to get glued to the electrified at times frenzied ‘knowledgeable’ gentlemen. They will tell us what to expect, when, why, wherefrom…… they stake their sleep and sanity to get our attention. The privileged few, as always will climb up Santa’s knee and whisper their wish lists during the consultations.
The Budget Premier League is set to kick off in the first week of July.
In 2008, we were booming and beaming and prayed for sweets from a rich uncle. FM - PC did deliver with income tax cuts and farm waiver. But now the mood is sombre and we are caught between the horns of fiscal prudence and fervent populism. At best we can hope that the uncle will be sweet and release a few riches.
The roar for reforms, disinvestment (in profitable PSUs) and jettisoning subsidies (leaving fuel pricing to gods) is deafening. Yes, they are a convenient way out to close the fiscal deficit without borrowing at interest as well as pleasing the industry. Interestingly America’s fiscal deficit is around 12%. But such deficits are dangerous for us - or so we are told.
Well, we can’t borrow, exports are down and we are finding it difficult to create jobs - without direct cost to the exchequer that is. Yet we don’t find homes being sold for one dollar or top industrialists bicycling to office. We find political parties spending hundreds of crores in ad campaigns alone in the just concluded polls. So, there is money somewhere and before reaching for the family silver we may ponder over these...
To read the full article click
http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=9144
JUNE 09,2009
By Subhashree Kishore
IT is time to get glued to the electrified at times frenzied ‘knowledgeable’ gentlemen. They will tell us what to expect, when, why, wherefrom…… they stake their sleep and sanity to get our attention. The privileged few, as always will climb up Santa’s knee and whisper their wish lists during the consultations.
The Budget Premier League is set to kick off in the first week of July.
In 2008, we were booming and beaming and prayed for sweets from a rich uncle. FM - PC did deliver with income tax cuts and farm waiver. But now the mood is sombre and we are caught between the horns of fiscal prudence and fervent populism. At best we can hope that the uncle will be sweet and release a few riches.
The roar for reforms, disinvestment (in profitable PSUs) and jettisoning subsidies (leaving fuel pricing to gods) is deafening. Yes, they are a convenient way out to close the fiscal deficit without borrowing at interest as well as pleasing the industry. Interestingly America’s fiscal deficit is around 12%. But such deficits are dangerous for us - or so we are told.
Well, we can’t borrow, exports are down and we are finding it difficult to create jobs - without direct cost to the exchequer that is. Yet we don’t find homes being sold for one dollar or top industrialists bicycling to office. We find political parties spending hundreds of crores in ad campaigns alone in the just concluded polls. So, there is money somewhere and before reaching for the family silver we may ponder over these...
To read the full article click
http://www.taxindiaonline.com/RC2/inside2.php3?filename=bnews_detail.php3&newsid=9144
Thursday, May 21, 2009
Letters to Editor - The Hindu
Opinion - Letters to the Editor LTTE’s defeat
The Sri Lankan government should engage in a reconciliation exercise and adopt measures to eliminate discrimination against the Tamils. If the causes that gave rise to the LTTE are not addressed, the void created by its defeat will be filled in no time.
G. Gokul Kishore,
New Delhi
http://www.hindu.com/2009/05/20/stories/2009052054791001.htm
The Sri Lankan government should engage in a reconciliation exercise and adopt measures to eliminate discrimination against the Tamils. If the causes that gave rise to the LTTE are not addressed, the void created by its defeat will be filled in no time.
G. Gokul Kishore,
New Delhi
http://www.hindu.com/2009/05/20/stories/2009052054791001.htm
Monday, April 27, 2009
Letter in FE
Letters to the editor : Saving grace
The editorial (‘Floor for rate cut?’, Apr 22) argues that the government-fixed small savings interest rates are higher than what banks may be able to offer and hence, distort competition. Small savings schemes offer both safety and stability of income. We can hardly deny the consumer better services by pulling one down to the level of the other. The editorial bats for the industry at the cost of small investors. It cites underbanking, but it’s wrong to say that PSU banks have failed in this respect, as neither foreign banks nor new generation private banks have any rural penetration. Small savings is the best avenue the small investor can ever get. Withdrawal of tax benefits to interest earned, which diminishes the attractiveness of bank deposits, is a point validly made.
—G Gokul Kishore New Delhi
The editorial (‘Floor for rate cut?’, Apr 22) argues that the government-fixed small savings interest rates are higher than what banks may be able to offer and hence, distort competition. Small savings schemes offer both safety and stability of income. We can hardly deny the consumer better services by pulling one down to the level of the other. The editorial bats for the industry at the cost of small investors. It cites underbanking, but it’s wrong to say that PSU banks have failed in this respect, as neither foreign banks nor new generation private banks have any rural penetration. Small savings is the best avenue the small investor can ever get. Withdrawal of tax benefits to interest earned, which diminishes the attractiveness of bank deposits, is a point validly made.
—G Gokul Kishore New Delhi
Thursday, April 23, 2009
Letters to Editor - The Hindu
Letters to the Editor Politicisation
It is unfortunate that the Sri Lankan Tamils issue is occupying centre stage in Tamil Nadu politics. Every party is trying to outdo the other in portraying itself as the champion of the Tamils’ cause. The ruling DMK is resorting to flip-flops to ensure that even while it remains part of the UPA, it is not compelled to yield ground to other parties.
The real issue has been obfuscated and the plight of the Sri Lankan Tamils has become secondary in comparison with the LTTE, which is getting undue coverage and misplaced sympathy.
G. Gokul Kishore,
New Delhi
It is unfortunate that the Sri Lankan Tamils issue is occupying centre stage in Tamil Nadu politics. Every party is trying to outdo the other in portraying itself as the champion of the Tamils’ cause. The ruling DMK is resorting to flip-flops to ensure that even while it remains part of the UPA, it is not compelled to yield ground to other parties.
The real issue has been obfuscated and the plight of the Sri Lankan Tamils has become secondary in comparison with the LTTE, which is getting undue coverage and misplaced sympathy.
G. Gokul Kishore,
New Delhi
Friday, April 10, 2009
Vaiko's Speech - Letters to Editor - The Hindu 10-4-2009
Mr. Vaiko’s inflammatory speech is unacceptable. India, already battered by terrorism, cannot afford to allow such leaders to sow the seeds of discord and misguide the younger generation.
G. Gokul Kishore,
New Delhi
G. Gokul Kishore,
New Delhi
Thursday, April 9, 2009
Article on Poll Reforms - Unpublished by media
Poll time - Debugging franchise
By Gokul Kishore & Subhashree Kishore
It is poll time again in India. And it is time too to put electoral reforms on the agenda again. The Election Commission of India has begun blown the bugle with the proposed curbs on exit polls.
Democracy evolved to counter concentration of power - monarchy or other forms which often ended up in abuse of power. But de jure leaders in today’s democracy remain de facto kings, no matter victorious or vanquished at the hustings. The general decay in moral standards in public life, the perpetuation of dynastic rule cloaked in modern instruments of power and our impassive response to opportunism being ‘politics is refuge of scoundrels’ or ‘politics makes strange bedfellows’ often undermine faith in this form of governance.
Democracy has become all about winning elections, consolidation and staying rather than serving. Of course some incidental progress happens and India manages to be a functional democracy with separation of powers and guarantee of civil rights but good governance remains elusive. Experiences of developed nations reveal that proportional representation or opinion polls cannot combat selfish interests or bad decisions.
Electoral reform is a topic often debated when the polls are round the corner only to be consigned to the backburner later. Asset declaration and general media outcry against criminals in the fray are major developments perceived as having brought semblance of reforms. But the agenda remains unfinished and of course, daunting. Certain measures do suggest some changes but are confined to addressing administrative difficulties and costs. Something concrete is yet to come up to ensure fairer elections. For, a climate of responsibility is a must and elections should be treated with the seriousness and respect they deserve. Not just because of the outgo in monetary terms, but also for the fact that the electoral process is bedrock of the system of governance we have chosen.
Campaign money becomes a quicksand of quid-pro-quo syndrome with candidates seeking to reach maximum voters in a limited time frame and trying to ‘capture’ their imagination. Hardly is there any party immune to corporate lubricants. The largesse from business houses borders on extortion once elections are in the air. State funding has been much talked about and there are no takers as obviously opinion is unanimous that public money cannot be wasted for such ‘undeserving’ exercise. The collection spree gets the tag of voluntary contribution by the loyal supporters and arms of the Indian Income Tax law do not extend in this direction. On a practical plane, campaigning should ideally begin at least six months before elections and emphasis should be on door to door campaign rather than accentuating pollution through loud speakers and festoons, paper handouts and road blocks. Mud slinging and unsubstantiated statements should cease.
Any meeting should be treated sacrosanct. Instead of rabble raising monologues, election meetings can be a two way affair with some time devoted to responding to the queries of voters. Unbridled campaign till the D-Day deprives the voter of his 48 hours of calm to reflect and decide. Campaign restrictions must also extend to other forms of media like private TV channels. Also mandating equal airtime by private channels, if they choose to broadcast political ads, will be a step towards fair campaigns. A code of conduct, self-imposed by the media, may serve the purpose.
Elections cannot be belittled nor electorate slighted by candidates choosing to fight elections whimsically hopping constituency in last minute. Election Commission of India had floated a proposal sometime back to collect cost of resultant bye-election from the candidate. A candidate oblivious of his constituency or its problems, can hardly be represent it and demand measures for its growth. A pre-condition that the candidate should have stayed in his constituency for certain specified period prior to nomination can be explored.
In this era of 24 x 7, the Indian news channels and print media with their battery of psephologists vie to give accurate forecast and analysis. In this process, caste and religion wise vote share is highlighted rather disproportionately. Statistical or scientific analysis may be unbiased but the obsession with such divisive factors is counter-productive and diverts focus from larger issues. Reasonable restrictions must be imposed on such analysis. We don’t need constant reminders about our differences through lens (dis)coloured by caste/religion or social strata. With elections becoming a major law and order issue, staggered poll schedule has become order of the day. In such a scenario, attempt to gauge voting preferences through exit polls, which are inherently unreliable as respondent may not reveal his actual choice, should be regulated effectively. Election Commission has advocated restriction on publishing results of such opinion polls for a particular period.
There is no dearth of suggestions on poll reforms. The political class retains the key to usher them in. Public opinion needs to be mobilized so that the men intending to serve the public, achieve that ‘noble’ end to mutual satisfaction.
It is poll time again in India. And it is time too to put electoral reforms on the agenda again. The Election Commission of India has begun blown the bugle with the proposed curbs on exit polls.
Democracy evolved to counter concentration of power - monarchy or other forms which often ended up in abuse of power. But de jure leaders in today’s democracy remain de facto kings, no matter victorious or vanquished at the hustings. The general decay in moral standards in public life, the perpetuation of dynastic rule cloaked in modern instruments of power and our impassive response to opportunism being ‘politics is refuge of scoundrels’ or ‘politics makes strange bedfellows’ often undermine faith in this form of governance.
Democracy has become all about winning elections, consolidation and staying rather than serving. Of course some incidental progress happens and India manages to be a functional democracy with separation of powers and guarantee of civil rights but good governance remains elusive. Experiences of developed nations reveal that proportional representation or opinion polls cannot combat selfish interests or bad decisions.
Electoral reform is a topic often debated when the polls are round the corner only to be consigned to the backburner later. Asset declaration and general media outcry against criminals in the fray are major developments perceived as having brought semblance of reforms. But the agenda remains unfinished and of course, daunting. Certain measures do suggest some changes but are confined to addressing administrative difficulties and costs. Something concrete is yet to come up to ensure fairer elections. For, a climate of responsibility is a must and elections should be treated with the seriousness and respect they deserve. Not just because of the outgo in monetary terms, but also for the fact that the electoral process is bedrock of the system of governance we have chosen.
Campaign money becomes a quicksand of quid-pro-quo syndrome with candidates seeking to reach maximum voters in a limited time frame and trying to ‘capture’ their imagination. Hardly is there any party immune to corporate lubricants. The largesse from business houses borders on extortion once elections are in the air. State funding has been much talked about and there are no takers as obviously opinion is unanimous that public money cannot be wasted for such ‘undeserving’ exercise. The collection spree gets the tag of voluntary contribution by the loyal supporters and arms of the Indian Income Tax law do not extend in this direction. On a practical plane, campaigning should ideally begin at least six months before elections and emphasis should be on door to door campaign rather than accentuating pollution through loud speakers and festoons, paper handouts and road blocks. Mud slinging and unsubstantiated statements should cease.
Any meeting should be treated sacrosanct. Instead of rabble raising monologues, election meetings can be a two way affair with some time devoted to responding to the queries of voters. Unbridled campaign till the D-Day deprives the voter of his 48 hours of calm to reflect and decide. Campaign restrictions must also extend to other forms of media like private TV channels. Also mandating equal airtime by private channels, if they choose to broadcast political ads, will be a step towards fair campaigns. A code of conduct, self-imposed by the media, may serve the purpose.
Elections cannot be belittled nor electorate slighted by candidates choosing to fight elections whimsically hopping constituency in last minute. Election Commission of India had floated a proposal sometime back to collect cost of resultant bye-election from the candidate. A candidate oblivious of his constituency or its problems, can hardly be represent it and demand measures for its growth. A pre-condition that the candidate should have stayed in his constituency for certain specified period prior to nomination can be explored.
In this era of 24 x 7, the Indian news channels and print media with their battery of psephologists vie to give accurate forecast and analysis. In this process, caste and religion wise vote share is highlighted rather disproportionately. Statistical or scientific analysis may be unbiased but the obsession with such divisive factors is counter-productive and diverts focus from larger issues. Reasonable restrictions must be imposed on such analysis. We don’t need constant reminders about our differences through lens (dis)coloured by caste/religion or social strata. With elections becoming a major law and order issue, staggered poll schedule has become order of the day. In such a scenario, attempt to gauge voting preferences through exit polls, which are inherently unreliable as respondent may not reveal his actual choice, should be regulated effectively. Election Commission has advocated restriction on publishing results of such opinion polls for a particular period.
There is no dearth of suggestions on poll reforms. The political class retains the key to usher them in. Public opinion needs to be mobilized so that the men intending to serve the public, achieve that ‘noble’ end to mutual satisfaction.
Monday, March 30, 2009
Recipe posted in NDTV.com
Idly Fry - Receipe posted in Ndtv.com by Jayasree Varadarajan (our sister)
Link : http://cooks.ndtv.com/showrecipes.asp?id=4351&dishtype=
Chef: Jayashree Varadarajan
Ingredients:
Idlis (well cooled) - 2 to 3 nos
Red Chilli powder - 3/4 teaspoon
Turmeric powder - 2 pinches
Tomatoes medium sized - 2 nos - cut to small pieces
Onion- 1 no - finely chopped
Mustard seeds - 1 teaspoon
Green chillies - 2 nos- chopped fine
Urad dal - 1 teaspoon
Coriander leaves finely chopped to garnish
Salt to tasteGaram masala- one pinch (optional)
Cooking oil to roast idli and make gravy.
Method: Cut the idli into small cubes. Pour about 5 teaspoon of oil in a kadai and pop mustard seeds. Then add the cut idli pieces, chilli powder. Roast it for about 5 minutes so that most of the pieces get a golden brown edge. Keep this aside. Again heat oil in kadai. Add urad dal and green chillies, after a minute saute onion pieces. Add the tomatoes, turmeric powder and salt. Keep on medium flame till tomatoes are cooked and all items blend intofine gravy. You may add water if required. Turn off the gas and add the fried idli pieces. Garnish with coriander leaves. Serve hot.
Link : http://cooks.ndtv.com/showrecipes.asp?id=4351&dishtype=
Chef: Jayashree Varadarajan
Ingredients:
Idlis (well cooled) - 2 to 3 nos
Red Chilli powder - 3/4 teaspoon
Turmeric powder - 2 pinches
Tomatoes medium sized - 2 nos - cut to small pieces
Onion- 1 no - finely chopped
Mustard seeds - 1 teaspoon
Green chillies - 2 nos- chopped fine
Urad dal - 1 teaspoon
Coriander leaves finely chopped to garnish
Salt to tasteGaram masala- one pinch (optional)
Cooking oil to roast idli and make gravy.
Method: Cut the idli into small cubes. Pour about 5 teaspoon of oil in a kadai and pop mustard seeds. Then add the cut idli pieces, chilli powder. Roast it for about 5 minutes so that most of the pieces get a golden brown edge. Keep this aside. Again heat oil in kadai. Add urad dal and green chillies, after a minute saute onion pieces. Add the tomatoes, turmeric powder and salt. Keep on medium flame till tomatoes are cooked and all items blend intofine gravy. You may add water if required. Turn off the gas and add the fried idli pieces. Garnish with coriander leaves. Serve hot.
Friday, March 6, 2009
Letters to Editor - The Hindu
This letter was published in The Hindu dated 07-03-2009
Gandhian legacy
The incident highlights the need to initiate measures to collect and bring home the invaluable belongings of our leaders. By persuading well-known museums, auction houses and collectors and by seeking the cooperation of governments, India should ensure that national treasures are not commercially bought and sold. The personal belongings of patriots are an integral part of our nation’s legacy.
G. Gokul Kishore,
New Delhi
http://www.hindu.com/2009/03/07/stories/2009030755681002.htm
Gandhian legacy
The incident highlights the need to initiate measures to collect and bring home the invaluable belongings of our leaders. By persuading well-known museums, auction houses and collectors and by seeking the cooperation of governments, India should ensure that national treasures are not commercially bought and sold. The personal belongings of patriots are an integral part of our nation’s legacy.
G. Gokul Kishore,
New Delhi
http://www.hindu.com/2009/03/07/stories/2009030755681002.htm
Thursday, February 19, 2009
Letters to Editor - The Hindu
This letter was published in The Hindu dated Feb 20, 2009
The LTTE has decimated all the groups opposed to it. The Centre should make it amply clear to the political parties of Tamil Nadu that even while we support the cause of Tamils, any support — direct or otherwise — to the Tigers will not be tolerated.
G. Gokul Kishore,
New Delhi
Link : http://www.hindu.com/2009/02/20/stories/2009022052901003.htm
The LTTE has decimated all the groups opposed to it. The Centre should make it amply clear to the political parties of Tamil Nadu that even while we support the cause of Tamils, any support — direct or otherwise — to the Tigers will not be tolerated.
G. Gokul Kishore,
New Delhi
Link : http://www.hindu.com/2009/02/20/stories/2009022052901003.htm
Thursday, February 5, 2009
Poem - this too shall pass - (NDTV.com 6/2/09)
This too shall pass
- Subhashree Kishore
Having a sudden attack of gall,
Raju said, "I'll tell all".
"Less of it, Less of it"
Cried the aces at audit.
Raju blared "I did cook books"
The missus perked up, "What cook books?
Get me one and THE BABY NEEDS NEW SHOES"
"Story of my life", Raju mused.
He weeps behind the bars
Pining for his luxury cars
His mate says "You are a fool"
You forgot the golden rule."
Never worry, never be sorry"
The baba explains looking cross
"Why volunteer to wear the albatross?
"Raju claps his forehead, "Alas!"
...Read more at
http://www.ndtv.com/reading-room/bookspoetrycorner.asp?page=1&frmarchives=&id=3029&nxtstart=
http://www.ndtv.com/reading-room/bookspoetrycorner.asp?page=2&frmarchives=&id=3029&nxtstart=
- Subhashree Kishore
Having a sudden attack of gall,
Raju said, "I'll tell all".
"Less of it, Less of it"
Cried the aces at audit.
Raju blared "I did cook books"
The missus perked up, "What cook books?
Get me one and THE BABY NEEDS NEW SHOES"
"Story of my life", Raju mused.
He weeps behind the bars
Pining for his luxury cars
His mate says "You are a fool"
You forgot the golden rule."
Never worry, never be sorry"
The baba explains looking cross
"Why volunteer to wear the albatross?
"Raju claps his forehead, "Alas!"
...Read more at
http://www.ndtv.com/reading-room/bookspoetrycorner.asp?page=1&frmarchives=&id=3029&nxtstart=
http://www.ndtv.com/reading-room/bookspoetrycorner.asp?page=2&frmarchives=&id=3029&nxtstart=
Wednesday, December 31, 2008
Letter in FE
The Financial ExpressPosted: 2008-12-31 00:35:48+05:30 ISTUpdated: Dec 31, 2008 at 0035 hrs IST
Font Size
: The editorial (‘Price growth high’, Dec 20) warns against RBI being too interfering. It also advocates greater accountability for RBI’s actions. The problem is, more accountability often means more interference which is mostly political, an anomaly in these times when state intervention is considered both pious and blasphemous. Effectiveness is preferable over efficiency, as Drucker put it. RBI can be all but unpopular with the cash-rich few who indulge in labyrinthine financial games. No open economy can be immune to market swings. A central controlling agency which can understand them and act is sine qua non. Conservative wisdom that has staggered meltdown effect is preferable to convoluted activism.
—Subhashree Kishore New Delhi
http://www.financialexpress.com/news/letters-to-the-editor-convoluted-activism-wont-do/404738/
Font Size
: The editorial (‘Price growth high’, Dec 20) warns against RBI being too interfering. It also advocates greater accountability for RBI’s actions. The problem is, more accountability often means more interference which is mostly political, an anomaly in these times when state intervention is considered both pious and blasphemous. Effectiveness is preferable over efficiency, as Drucker put it. RBI can be all but unpopular with the cash-rich few who indulge in labyrinthine financial games. No open economy can be immune to market swings. A central controlling agency which can understand them and act is sine qua non. Conservative wisdom that has staggered meltdown effect is preferable to convoluted activism.
—Subhashree Kishore New Delhi
http://www.financialexpress.com/news/letters-to-the-editor-convoluted-activism-wont-do/404738/
Friday, December 26, 2008
Letter in FE
Letters to the editor :
The wrong parallel
The Financial ExpressPosted: 2008-12-26 23:22:40+05:30 ISTUpdated: Dec 26, 2008 at 2322 hrs
Your editorial (‘By FDI for the poor’, Dec 24, 2008) draws a parallel between the vast volumes in the telecom sector and its promise of prosperity for the poor. With respect to raising living conditions, telecom and insurance are as different as chalk and cheese. Judging by use, telephone is not a necessity in the way medical care or life insurance is. The telecom success story and the mobile phone’s so-called levelling effect or its contribution to GDP may gratify but it doesn’t warrant hiking FDI or rolling the red carpet for reinsurance to the Lloyd’s which has been rocked by losses. Most of the foreign insurance players in Indian market are going through financial nightmares in the countries of their origin. This Bill may be an opportunity for them to cover up problems at home and reap benefits from the more secure Indian market. Shouldn’t we promote domestic Indian insurance firms instead of chasing faulty foreign ones?
—Subhashree Kishore New Delhi
http://www.financialexpress.com/news/letters-to-the-editor-the-wrong-parallel/402891/
The wrong parallel
The Financial ExpressPosted: 2008-12-26 23:22:40+05:30 ISTUpdated: Dec 26, 2008 at 2322 hrs
Your editorial (‘By FDI for the poor’, Dec 24, 2008) draws a parallel between the vast volumes in the telecom sector and its promise of prosperity for the poor. With respect to raising living conditions, telecom and insurance are as different as chalk and cheese. Judging by use, telephone is not a necessity in the way medical care or life insurance is. The telecom success story and the mobile phone’s so-called levelling effect or its contribution to GDP may gratify but it doesn’t warrant hiking FDI or rolling the red carpet for reinsurance to the Lloyd’s which has been rocked by losses. Most of the foreign insurance players in Indian market are going through financial nightmares in the countries of their origin. This Bill may be an opportunity for them to cover up problems at home and reap benefits from the more secure Indian market. Shouldn’t we promote domestic Indian insurance firms instead of chasing faulty foreign ones?
—Subhashree Kishore New Delhi
http://www.financialexpress.com/news/letters-to-the-editor-the-wrong-parallel/402891/
Saturday, December 13, 2008
Letters to the editor : Baleful bailout mantra
The Financial ExpressPosted: 2008-12-13 01:00:02+05:30 ISTUpdated: Dec 13, 2008 at 0100 hrs IST
Rama Bijapurkar’s article ‘Problem isn’t consumer demand’ bats for ailing companies. She pleads that the consumer is too small or well-preserved by his/her own prudence and does not need any stimulus. Big companies are cash-strapped and need to be helped. The nice-sounding reason for this is that if companies fail, people lose jobs and current problems will snowball. A few things may have to be put in perspective. Recession implies piling up of stocks owing to dwindling demand. Injecting funds through bailouts or facilitating liquidity through banks to companies will mean that consumers lose from both ends. Price cut is ruled out in seller’s market and private losses are socialised. The fittest survive in a free market. If firms have over-leveraged and made a mess, there is no reason why government should help them to clean up. It’s a win-win for companies who need to give up neither control nor revenues.
Subhashree Kishore New Delhi
The Financial ExpressPosted: 2008-12-13 01:00:02+05:30 ISTUpdated: Dec 13, 2008 at 0100 hrs IST
Rama Bijapurkar’s article ‘Problem isn’t consumer demand’ bats for ailing companies. She pleads that the consumer is too small or well-preserved by his/her own prudence and does not need any stimulus. Big companies are cash-strapped and need to be helped. The nice-sounding reason for this is that if companies fail, people lose jobs and current problems will snowball. A few things may have to be put in perspective. Recession implies piling up of stocks owing to dwindling demand. Injecting funds through bailouts or facilitating liquidity through banks to companies will mean that consumers lose from both ends. Price cut is ruled out in seller’s market and private losses are socialised. The fittest survive in a free market. If firms have over-leveraged and made a mess, there is no reason why government should help them to clean up. It’s a win-win for companies who need to give up neither control nor revenues.
Subhashree Kishore New Delhi
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