Saturday, December 5, 2015

Americans should be alert but not panicked about the threat of further terrorist attacks.

Said : FBI Director James B. Comey, as per a report in The Washington Post. The FBI is now investigating the San Bernardino, Calif., massacre as an act of terrorism.

FBI Director James Comey and Attorney General Loretta Lynch
speak to reporters about this week’s mass shooting in
San Bernardino, California during a press availability
held December 4, 2015 at FBI Headquarters in Washington, D.C. 

In an official briefing on Dec 4, with respect to the San Bernardino shootings, Comey said the incident was "now a federal terrorism investigation led by the FBI and the reason for that is that the investigation so far has developed indications of radicalization by the killers and of a potential inspiration by foreign terrorist organizations." 
"We know that this is very unsettling for the people of the United States. What we hope you will do is not let fear become disabling but to instead try to channel it into an awareness of your surroundings."
According to the FBI officials, after the shooting, the Pakistani woman Tashfeen Malik, 29 - who teamed with her husband Chicago-born Syed Rizwan Farook, 29, in the mass murder - went on Facebook to pledge her allegiance to the leader of the Islamic State, the Post reported.

The Huffington Post has profiled the victims of the San Bernardino shooting in it's Dec 3 edition.

Friday, November 27, 2015

We have been contacted twice in recent weeks by private PR companies representing Indian govt. officials. Good use of govt funds?

Annie Gowen
Said : Annie Gowen, Delhi based India bureau chief for The Washington Post. Annie's twitter profile mentions her email ID :

Annie's tweet goes as under :

Annie Gowen ‏@anniegowen 

We have been contacted twice in recent weeks by private PR companies representing Indian govt. officials. Good use of govt funds? @PMOIndia
Leaders of Congress party have taken up this matter seriously, specially on the social media, under the hashtag of modimediagate. The users have their own comments on this matter. One user's comment reads : "It seems Modiji has been misinformed that international news agencies work like Aaj Tak, Zee News and India TV."

Annie Gowen is The Post’s India bureau chief and has reported for the Post throughout South Asia and the Middle East. She spent the summer of 2011 in Iraq, examining the continued violence and ramifications of the U.S. troop withdrawal there. She is a graduate of the William Allen White School of Journalism and Mass Communications at the University of Kansas and lives in New Delhi.

Wednesday, November 4, 2015

Monday, November 2, 2015

"This is the real reason why our history books are in tatters.."

Prof Dilip Chakrabarti
Said : Prof Dilip Chakrabarti, Dean, Centre for Historical and Civilisational Studies, The Vivekananda International Foundation (VIF) and Professor Emeritus, Department of Archaeology, Cambridge University to Rajiv MalhotraIndian-American researcher, author, speaker : Current affairs, inter-civilization, science. This was revealed, in a tweet, by Rahul Singh @Rahul_aryanab

It is worth noting that, in March this year, HRD Minister Smriti Irani had appointed Prof Chakrabarti as member of Indian Council of Historical Research (ICHR). As per the media reports Irani appointed  Prof Chakrabarti overruling the recommendation of its chairperson Y Sudershan Rao.

I just stumbled upon this tweet on my TL and found it quite interesting. I am no expert in history, or for that in any other field worth mentioning, but this piece highlighted with yellow colour drew my attention and I got an opportunity to read it carefully. I must confess, however, that a significant credit for my interest in reading this tweet about history goes to Chetan Bhagat's recent tweet about historians.

Chakrabarti's starting point dates back to "many years since Independence" when he observed that academically bright students hardly opted for History/Indology. This eventually resulted in "only mediocre and academically gutter" elements occupying the teaching jobs. According to Chakrabarti, mostly those who failed the IAS exam a number of times used to try for these teaching jobs. Those who were bright and ambitious never opted for research or teaching.

Chakrabarti terms 'mediocre' academicians (History/Indology) as Marxists and finds them far better than the 'gutter' category, which he calls non-Marxists. According to Chakrabarti : 'Mediocre' i.e. Marxists researchers, can read books and express themselves better in English language. They muck up some Western theories and consider themselves a better class of scholars than the other group (non-Marxists). 

Having described the 'mediocre' researchers he clarifies : "It is these people whom we call 'Marxists in our history set-up. Most of them have not seen a book written by Karl Marx."

Chakrabarti hits the 'non-Marxists' really very hard : "The less we think of the 'Non-Marxists' the better. They are blissfully ignorant of all academic norms and knowledge. Essentially country bumpkins who cannot read possibly a whole book in any language, they fill up space in the history departments of most of our universities and research organizations."

"History/Archaeology/Indology - they are all professional disciplines in their own rights. Expertise cannot be acquired except with some love and commitment. Most of the characters who adorn the top level of the Indian academia in History/Archaeology/Indology are virtually semi-literates in their subjects and unmindful of anything else except their own interest,"  Chakrabarti's says, as quoted in the tweet. His concludes with the following comment.
"As things change politically in the country, the dichotomy between Marxists and non-Marxists in historical research will hopefully go away; but the scenario dominated by the mediocres and the elements of the gutter will not go away unless the study of India's ancient past acquires some respectability in Indian education and society."

Friday, October 2, 2015

A prime minister, who understands Gandhi would have trekked to Bisari this October 2. Modi, however, chose to chase power in Bihar.

Said : Amrith Lal, an eminent journalist, in his blog published in today's The Indian Express
Amrith Lal

The article, published under the title "Mahatma Gandhi, Narendra Modi and two interpretations of filth", describes how the mob lynching of Akhlaq and his son Danish - just after someone orchestrated a rumour that they had beef in their home - can be equated with the killing of Mahatma Gandhi by  Nathuram Godse who had been a member of the RSS and Hindu Mahasabha. 

The incident of communal clash, in which Akhlaq was killed and Danish critically injured, took place in Jarcha area of Dadri in Bisada village just 50 kms from national capital city of Delhi on the night of September 28. According to Lal, the incident is a painful reminder of how this nation has betrayed its father who firmly stood for the Hindu-Muslim unity, a crucial factor to his idea of Swaraj.

Lal noted that "Until recently, Godse’s men lived on the margins. Today, they seek to sanctify him in public. Bisara is a reminder of Godse and yet another murder of Gandhi’s idea of India," hinting at the heightened activism of the Sangh Parivar responsible for current incidences of communal clashes and violence in UP and Bihar.

Family members of Akhlaq, who was killed in a communal clash
in Jarcha area of Dadri, mourn the loss at his residence
in Bisada village. (Source: Express Photo by Gajendra Yadav)

According to Lal, Modi, who has consistently invoked Gandhi in his governance programmes, should have visited Bisari today. "Modi, however, chose to chase power in Bihar," he concludes.

Wednesday, September 30, 2015

We don’t have a president, we have a scared kid at a horror movie covering his eyes. Putin is ugly, ruthless, vicious, and I don't like him at all, but he's brilliant.

Said : Ralph Peters in the Bill O'Reilly The Factor show. Peters is a retired United States Army lieutenant colonel, author, and media commentator. He is perhaps best known in the media for his appearances on Fox News.

Watch him on "The Factor" below :

Tuesday, August 25, 2015

"I told the PM, we will fulfil your dreams of Swacch Bharat, Skill India and Digital India. We will do the work and you will earn fame when you go abroad"

Said : Arvind Kejriwal when asked what he discussed with Prime Minister Narendra Modi during his meeting with him today, reported NDTV

Kejriwal said : "I told the PM, we will make Delhi sparkle within two years if you cooperate with us. All you have to do is cooperate with us. Political ideologies should not come in the way." 

Asked how PM Modi reacted, Mr Kejriwal said: "He heard us and said we will see."

In an open letter in June, Mr Kejriwal had clearly conveyed his displeasure over Prime Minister's use of the L-G to harass his government. In the letter he had also appealed to PM Modi to take steps to improve Delhi's deteriorating law and order situation or hand over police to the city government.
 "Delhi people have voted for us and the rest of the country supported Modi. So please let us run Delhi and you (Modi) run the country. Don't create trouble for us every day through the L-G. This is not being a good Prime Minister. Taking revenge for losing Delhi from people and AAP is not right" 
Mr Kejriwal has been directly accusing PM Modi for creating trouble in smooth working of his government's day-to-day affairs without mincing any words.

Monday, August 24, 2015

"I predict that Art 370 will be deleted around Sept 2015"

Sunday, August 23, 2015

"Modi sahab does not speak at all these days. He is one of the great disappointments of my life. The man should speak."

Said : Ram Jethmalani, an eminent lawyer and one of the first persons to propose Narendra Modi's name as BJP's prime ministrial candidate.

According to a PTI report carried by the Economic Times, Jethmalani criticised the government for stopping Hurriyat leaders from attending Pakistan High Commission's proposed reception which eventually led to the cancellation of NSA-level talks between both countries. 

Jethmalani said the Pakistan High Commissioner here represents a sovereign government and "how can you prevent him from meeting people?" He opined that such actions bring "tremendous disrepute" to the country and creates bad precedent of diplomatic behaviour. 

"They neither know international law, our leaders...I am talking about all leaders, more in the Congress. Modi sahab does not speak at all these days. He is one of the great disappointments of my life. The man should speak," Jethmalani was quoted as saying. 
"If you don't know how to speak then at least consult someone. Surely, there are better people and just because you are Prime Minister, you are not the wisest person. But he does not want to learn."
According to him calling Hurriyat leaders as 'separatists' reflects "gross misunderstanding" and "ignorance" among the "illiterate people in cabinet, government, parties". 

He said that "a lasting and honourable peaceful resolution to the Kashmir issue must and can be found which can be acceptable to political elements and regions of the state." 

It is worth noting here that Jethmalani had formed a Kashmir Committee in 2002 to play the role of interlocutor on Kashmir. 

According to Jethmalani, this committee had ensured that both sides diluted their extreme positions. "On their side, extreme position is secession. On this side, the extreme position is repeal of Article 370," he claimed. 

"If you don't know how to speak then at least consult someone. Surely, there are better people and just because you are Prime Minister, you are not the wisest person. But he does not want to learn," he added. 

Watch Jethmalani Speaking on this issue.

Saturday, August 22, 2015

परवानों की बत्ती गुल कर दी मैंने. देखिये कैसे?

"Monogamy used to be one person for life. Today, monogamy is one person at a time"

The rise and rise of Monogamy : Monogamy has a new meaning now.

Art of Diplomacy & Foreign Policy

BREAKING : PM Modi to conduct a 1-hour course to teach the 

'Art of Diplomacy & Foreign Policy' 

based on his Dubai accomplishments.

Friday, August 21, 2015

Genius writers write stories that have one side....

Wednesday, August 19, 2015

“People come to Times Square from all over the world because it is a little quirky and slightly chaotic and because there’s some allure to that”

Corey Johnson
Said : Corey Johnson, a City Council member whose district includes Times Square. 

New York Times reporter Patrick McGeehan, in his news article on increasing problem of topless women, known as desnudas, parading around Times Square, reported Johnson as saying that he and another councilman, Daniel R. Garodnick, were working on a bill that would limit when and where these women and also the costumed characters, can ply their trade. 

He told the NYT reporter that their model would be based on the “time, place and manner restrictions” the New York city has placed on street vendors in crowded areas of certain parks similar to the designated spots created for a limited number of sketch artists and other street vendors.

Mr. Johnson reportedly said "the goal was not to rid Times Square of the characters and other street hustlers but to rein them in so they do not drive away the throngs of tourists."

“People come to Times Square from all over the world because it is a little quirky and slightly chaotic and because there’s some allure to that but if it becomes unsafe and creepy, that becomes a problem that we have to address,” Johnson said as per the news.

Bill de Blasio
New York City, Mayor
New York Mayor Bill de Blasio has acknowledged that his office had received complaints about these topless women for their aggressive solicitation of payment to pose for pictures. He placed them in the same category as the gaggle of costumed characters that have become nearly synonymous with predatory panhandling in and around Times Square. 
“Let’s face it. The women in Times Square, or the furry creatures in Times Square, are engaged in a business. We believe that that opens the door for us to enforce the way we would any other business. And we will do so, while still respecting constitutional rights.” Bill de Blasio
"I see the women parading around Times Square covered in little but body paint not as creative artists, but as pushy panhandlers whose efforts to separate tourists from their money should be regulated," the Mayor said.

Sunday, August 16, 2015

"ईमानदारी की ज़िन्दगी जी कर देखो बहुत सुंकून मिलता है"

Said : Gaurav Verma, wishing Arvind Kejriwala a happy Birthday today. 

Observer @gdjasuja : "ईमानदारी की ज़िन्दगी जी कर देखो बहुत सुंकून मिलता है." जिसका मूल्य पैसों से नहीं आका जा सकता. अनमोल है.

Many Many Happy Returns of the Day to 
Dear Arvind Kejriwal. 

ईमानदारी की ज़िन्दगी जी कर देखो बहुत सुंकून मिलता है

Said : Gaurav Verma, wishing Arvind Kejriwala a happy Birthday today. 
Some other birthday messages :  

Observer @gdjasuja : "ईमानदारी की ज़िन्दगी जी कर देखो बहुत सुंकून मिलता है." जिसका मूल्य पैसों से नहीं आका जा सकता. अनमोल है.

Many Many Happy Returns of the Day to 
Dear Arvind Kejriwal. 

Friday, August 14, 2015

“Beijing's only principle is power, and its only legitimacy for that power is economic growth. That's the implicit social contract it's struck with its people: you'll get rich, but you won't get rights.”

Said : Matt O'Brien, in his blog in The Washington Post of August 12, 2015. 

According to Matt, China's slowing economy has caused an exodus of $800 billion out of the country in 2014 alone. "This has made the yuan "want" to weaken," he writes, adding that the decline in the yuan was arrested by the government as it could easily afford to "spend some of its $4 trillion in reserves to keep it from falling."

Matt feels that China has been manipulating the yuan down for decades. But now, when the slow down in the economy has made the yuan "want" to weaken, Beijing wants a managed decline in the currency. A drop of 10 percent is not ruled out in small installments. The government is preventing the yuan from falling too far too fast. "China wants a weaker yuan, but on its terms," added Matt. He quoted Bloomberg economist Tom Orlik's observation in a note : "Our calculations suggest a 10% depreciation of the yuan would boost export growth 10 percentage points, but risk more than $400 billion in capital flight."

Monday, August 10, 2015

"In the technology industry, where revolutionary ideas drive the next big growth areas, you need to be a bit uncomfortable to stay relevant."

Larry Page
Said : Larry Page, Co-founder of Google Inc., while announcing massive restructuring of the company in his blog on Monday, August 10, 2015, 'G is for Google.' 

Larry stated his blog with : "As Sergey and I wrote in the original founders letter 11 years ago, “Google is not a conventional company. We do not intend to become one.” As part of that, we also said that you could expect us to make “smaller bets in areas that might seem very speculative or even strange when compared to our current businesses.”  "From the start, we’ve always strived to do more, and to do important and meaningful things with the resources we have."

Larry and Sergey have shifted to Alphabet Inc. from where they plan to monitor all their group companies. As per the new operating system of the Alphabet Inc. which is a collection of companies, Larry wants to have a strong CEO for each business. Sundar Pichai will be the new CEO of Google whereas Co-founders Larry Page and Sergey Brin will shift to Alphabet. All Google shares will now be traded as shares of Alphabet. As CEO and President of Alphabet, Page and Brin will oversee Google and affiliated companies that include Calico (life-extension project) and Wing (a drone delivery venture, part of X lab). Alphabet will also direct Google's Capital and Ventures.

Praising Pichai, he wrote : "Sundar has been saying the things I would have said (and sometimes better!) for quite some time now, and I’ve been tremendously enjoying our work together. He has really stepped up since October of last year, when he took on product and engineering responsibility for our Internet businesses."

"Alphabet Inc. will replace Google Inc. as the publicly-traded entity and all shares of Google will automatically convert into the same number of shares of Alphabet, with all of the same rights. Google will become a wholly-owned subsidiary of Alphabet. Our two classes of shares will continue to trade on Nasdaq as GOOGL and GOOG," he added.

Good Luck to Larry and Sergey for this bold initiative taken at this stage of their career. Wish a huge Calico success to you both and to your Alphabet. 

Friday, August 7, 2015

"This is not Narendra Modi's government"

(Source : wikipedia)
Said : 77-year-old Rahul Bajaj, top industrialist and Rajya Sabha member, who also happens to be an admirer of Prime Minister Narendra Modi, in an interview with NDTV. 

"Recalling BJP's historic election victory, he compared Modi with an emperor who was crowned as India's Prime Minister on 27th of May 2014," reported NDTV. 

Bajaj further opined that the Modi government was losing the sheen it came with in power. He added that he is saying "what everybody is saying". "This is not Narendra Modi's government," NDTV quoted him saying.

Bajaj expressed his reservations about the government's new black money bill that offers a three-month window, or compliance period, to declare undisclosed foreign assets. 

According to him, the business community feels that the harassment by tax officials will continue even after the declaration and future prosecutions can't be ruled out despite government's promise that there will be no harassment by ITO and Enforcement Directorate.

Top industrialist and Rajya Sabha member Rahul Bajaj had strong words for the Narendra Modi-led NDA government, saying it was losing the sheen it came with after the historic win in the Lok Sabha polls last year. Watch him on NDTV show below.

Tuesday, August 4, 2015

"$1000 Apple Gift Voucher, if you bought an Apple Computer before 1st Jan. 1990"

Said : GD Jasuja, Editor of F4Fnews, in his blog quoting key Apple watchers camped in Cupertino.   

There are hundreds of websites in the United States that process, manufacture, distribute and even recycle rumours exclusively related to Apple products, services and company's workplace. Some of them, somehow, have managed to win the trust of hundreds of thousands of die-hard Apple fans who have been twitterified as #Mad4Apple.

F4Fnews, which segregates 'fake news for fun' from the serious rumours, has reported a serious rumour that is nearly impossible to dismiss as 'rumour,' considering the logic behind it and also the track record of the world's most valued technology company.

If F4Fnews is to be believed, an historical offer from Apple is on its way for the company's oldest customers. Apple is giving away $1000 gift vouchers to all its customers prior to 1st January 1990. Of course, the offer is not without any rider. "The customers, located in any part of the world, will have to ship their old Apple computer back to the company HQ in Cupertino, USA." "Shipping charges will be paid by Apple, is another good news," says the F4Fnews post. 
“Even if this is a rumour, I think it’s a good idea for Tim Cook to implement this scheme as a reward to Apple’s 25 years old customers. Customers may not be the share-holders in the company but they certainly are the stake holders. And what a better way can be to reward such stake holders who posed trust in your product by investing their valuable resources 25 years back.” GD Jasuja   
Our sources, permanently camping near Apple HQ, inform us that they have verified this 'rumored offer' with the owner of the printing press who confirmed an order received by him for printing 100,000 gift vouchers of $1000 each. This indicates that Apple has allocated $100 million for their customers who bought company's computer 25 years ago. Apple's decision not to print the gift vouchers in China is too obvious. F4Fnews says: "This Apple related rumour can safely be elevated to the 'news' category because it is 99.99 percent true without any doubt. "The 0.01 percent is indicated in case the company cancels the offer before its announcement itself." 

F4Fnews, through its sub-contracted sources, has also given a likely list of Apple computers that would qualify for the $1000 gift. The offer could be limited to 100,000 customers on first come first basis or it might have some cut-off date (March 31, 2016, rumored).
Undoubtedly, this appears to be a rumour. But there has never been a good time for Apple to implement such a brilliant idea to give this sort of return-gift to those who became customers during company’s formative years. If Steve Jobs was the commander-in-chief, it would have been unthinkable but Tim Cook is quite a generous CEO. We can expect him to make this possible.” GD Jasuja
Tim Cook is expected to make the announcement of $1000 Gift offer on the eve of their customary September event, held every year to launch new products. This is going to be Apple's greatest announcement honoring their forgotten customers who contributed to the company's success by buying Apple computers when the company was still a child. The child has now grown up as the world's most valued and effluent adult who knows that the payback time has arrived.

Keep your old Apple computer ready for free shipping in exchange of $1000 gift voucher....

Thank you, Apple, for your generous offer. Finally you found some smart way to spend your some cash meaningfully.

Note : Writer of this piece wishes to clarify that he has two apple computers that would qualify for the above offer, hence stands to gain if the offer is really made. One Macintosh Plus and another Macintosh SE bought in 1987 & 1988 respectively. But this piece has been written without keeping in mind self interest of any kind. Readers are advised NOT to rush to buy used Apple computers in the hope of profiting from the offer which may or may not be announced. Not responsible for any speculative trading in old Apple computers in any way due to this piece of writing. Verify facts at the nearest Apple store before taking any action or making any decision.

Monday, August 3, 2015

"Making 'Digital India' is like changing all four tyres of a moving car that is fast running out of fuel."

Said : Aashish Chandorkar, a Management Consultant based in Pune and working in Mumbai, in his article published in the Swarajya Magazine.

According to Chandorkar, the undue delay to start the work on laying the fiber-optic cables by Bharat Broadband Network Limited (BBNL), a special purpose vehicle created by UPA-2 in the year 2011, has led to the current situation which the job very difficult for the present government. The UPA II had the target to cover 2,50,000 villages, spread across 631 districts, with broadband connectivity by 2013 under its National Optic Fiber Network (NOFN) initiative.

Quoting official data, Chandorkar writes "BBNL website demonstrates the sloppy pace of work between 2011 and 2015 with just over 1% of the connectivity targets achieved thus far after a time overrun of 2 years."
"Under Digital India, the government has now set the target of laying the fiber-optic cables for BharatNet – the new avatar of NOFN which involves improved technology, multiple access modes other than fiber and improved quality of fiber – by March 2017. The work involves laying almost 600,000 kms of cables in just about 21 months or an average of 950 kms of cables every day starting immediately. This is what has been achieved in the past four years in total!" 
'Digital India' is yet another dream project of Prime Minister Narendra Modi. The program was launched recently at an event attended by government officials as well as industry leaders. The programme aims to make all citizens digitally literate and bring internet and e-governance to all sections of the society. 

Here is a tweet in praise for Aashish Chandorkar's article. 
My response to the above tweet : 

I wish the article was written without involving any politics in it so as to provide the correct picture of the mission and it's challenges. By holding responsible and blaming the (dead) UPA II for the delay in implementing what was targeted under (NOFN) initiative, thereby not getting the digital foundation right for the current government is of no use at all.

Comparing implementation of the Digital India programme with changing all four tyres of a moving car is highly absurd. The punchline ("changing all four tyres of a moving car....") mocks the importance of sincerity and, in its own way, the author's own statement.

BTW, here is a video showing you how a person can change tyres on a moving car! 

Good Luck to you and PM Modi for the work ahead.

Sunday, August 2, 2015

Saturday, August 1, 2015

"When Donald Trump entered the race on June 16, skeptics thought he would struggle to make the debate stage at all. Instead, he will be its focal point, not only because of his braggadocio but because he is leading in many national polls."

Niall Stanage
Said : Niall Stanage, Associate Editor at The Hill, in his post analysing the rules of the first Republican presidential debate to be held on August 6 in Cleveland on Fox News cable network. 10 of the 17 candidates will be selected for the main 9 p.m. debate. The positioning of the candidates on the stage is supposed to be one of the favourable factors because contenders at the center generally benefit at the expense of those confined to its edges.

Veteran Republican strategist Charlie Black, who served as senior political adviser to Sen. John McCain’s (R-Ariz.) 2008 presidential campaign was quoted as saying : “If [Trump] or anybody else violates the rules, it will hurt them. I’ve been focus-grouping these things for many years and people don’t like it when you keep breaking the rules." 

According to Charlie, Donald Trump has been going over the time limit.

Tuesday, July 28, 2015

Narendra Modi's Love for Shri Narendra Modi

I just got the above post of Narendra Modi on my FB TL. Verified. Found it was an old one but correct.

'In economics, like elsewhere, the questions rarely change. The answers keep changing"


Said : Reserve Bank of India governor Raghuram Rajan while inaugurating the Meghnad Desai Academy of Economics (MDAE) in Mumbai on July 27, 2015 in presence of chairperson of MDAE, Lord Meghnad Desai, reported the Times of India under the title "RBI under 'enormous pressure' to cover up NPA: Rajan."

"Declaring an NPA is primarily an issue of cleaning up accounting. The market fully understands what is truly non-performing. Moreover, it gives the wrong incentives, as by avoiding NPAs it merely postpones the problem. There is confused understanding of this problem," TOI reported Rajan as saying.

Dr. Rajan stressed the need for a good understanding of the fundamentals of economics, such as price theory, general equilibrium which is the hardest concept to understand. According to him lot of policy-making is done without an understanding of general equilibrium which is a key contribution that an economist can make to the dialog. "The kind of economics we need is based on rigorous fundamentals - blood, sweat, tears, and toil. In economics, like elsewhere, the questions rarely change. The answers keep changing," said Rajan as per the TOI report.

LiveMint, on the other hand, reported that the move to strip Raghuram Rajan of control over India rates is faceing backlash as, already, two officials in Prime Minister Narendra Modi’s administration have distanced themselves from a draft bill that would give the government control over a proposed interest-rate setting panel. 
"The kind of economics we need is based on rigorous fundamentals - blood, sweat, tears, and toil. In economics, like elsewhere, the questions rarely change. The answers keep changing" 
The Meghnad Desai Academy of Economics has been established as an institution of excellence to provide graduate students with the academic rigor and applied skills to meet the needs of a dynamic and globalized workplace. The programs have substantial input and participation by top-ranking corporates to improve the employability of young. The Academy offers 11-month Post graduate Program in Economics and Finance.

The above statement of Dr Rajan with respect to the NPAs has not got the required media attention due to Dr Kalam's untimely death which is occupying most of the social media's space today. But it is going to be a hot topic on Twitter very soon. Some have already started commenting.....

Sunday, July 26, 2015

Only the poorest, most isolated and socially hated few, with no clansmen to speak for and whose cases activists won't find sexy enough to defend, will go to the gallows.

Said Shekhar Gupta, former editor-in-chief of The Indian Express, in his facebook post.
Observer @gdjasuja

The U.S. stock market could "easily" drop 20 percent to 40 percent

Marc Faber
Said : Marc Faber, a Swiss investor based in Thailand, reported CNBC recently. 

Faber is publisher of the Gloom Boom & Doom Report newsletter and is the director of Marc Faber Ltd which acts as an investment advisor and fund manager. His latest prediction : "The U.S. stock market could "easily" drop 20 percent to 40 percent."

In his latest blog posting, Faber advices that the safest place to be is precious metals and some cash.
"Faber has been predicting the meltdown of U.S. stocks for years, only to see the market climb higher." 
Faber is pessimistic about Asian economies and expects "no growth" from there as some countries are already in recession. According to Faber, the expansion in Europe is "anemic" and the situation in Greece is "basically Ponzi finance" that can't last. 

In his latest newsletter, Faber declares "Indochina — including Vietnam, Cambodia, Thailand and Laos — is the most promising region for investment over the next 30 years."

Wednesday, July 8, 2015

In a democracy, if you are critical of the government, you have to express it. Sitting quietly and grumbling about it is not going to help. That’s not what democracy is for.

Nobel laureate Amartya Sen

Said : Nobel laureate Amartya Sen in an interview with Amrita Dutta published in The Indian Express of today.

Highlights of the interview are as under :

There is a strong gender preference, which is characteristic of India, much more so than we often recognise. If you compare India with Thailand, Indonesia, Malaysia, not to mention China, we come out worse in female life expectancy, female literacy, female schooling, female survival. The previous government did not do enough, but the present government is doing less than enough. 
"The positive thing about Modi, which I recognized even earlier, was that he was telling people: we can get things done. I admired it then, I admired it now. The problem begins with what it is that he wants to get done. I think he has a wrong understanding of economic development." 
  1. You can think of development as a process with human beings at the centre, or you can see it as a process with financial and industrial leadership [at the centre]. He (Modi) definitely belongs to the latter [school of thought]. We pay no attention to that, as if the quality of human beings is not central to human development. If India was bad at that earlier, it’s worse at it now. 
  2. On his decision to quit Nalanda University : 'The board wanted unanimously me to continue as chancellor, but the government’s advice was clear: under no circumstances. The Minister of External Affairs spoke clearly to the members of the board and said that Amartya Sen wasn’t acceptable. Some people wanted to continue the battle but I thought that would be a mistake." 
  3. It was clear to me that even if my friends in the board were to win in keeping me as chancellor, I could not be an effective leader because I would have to fight the government all the time. But I decided to make it a public affair so that it would be difficult to put a Hindutva ideologue in charge at Nalanda. The government did not want it to be made public at all. They would have loved it if I had quietly slunk away, but that, I am afraid, I was not willing to do. If there’s one thing to learn from this, it is that in a democracy, if you are critical of the government, you have to express it. Sitting quietly and grumbling about it is not going to help. That’s not what democracy is for. 
  4. What made me speak up at the time of the elections was my concern at the Hindutva elements in Modi’s agenda. You see that as an academic very much now, in the interference in the academic administration of the National Book Trust or at the Indian Council of Cultural Relations or the Indian Council of Historical Research. What happened at Nalanda is a relatively nicer story than either it first appeared and also compared with what is happening to other educational/cultural institutions like ICCR or NBT or ICHR or for that matter TIFR, as well as what might be happening to the IIMs if the bill goes through.