Has Subbarao lost the opportunity to be a statesman?
I rarely disagree with sukumar from livemint. But here i think RBI got it right. yes, Chidambaram is making all the right noises since taking over. However that does not amount to action on fiscal consolidation. Until he does more RBI should hold the rates at its current levels.
Somedays you are just not paid enough to teach undergrads. The lack of interest in the class somedays is appalling. Yet, you move along hoping (against hope probbaly) that there is at least one student who is interested in learning. Well, all you can do is hope right!
A new boy enters our family. I became a mamaiah today. Well, can't believe it.
Tax policy and the size of the government
The article above is 4th in a sequence of 5 articles in Indian economy. To say that i am shocked at the piece and the lack of logic (coming from an economist no less) is an understatement. The articles effectively can be used by Congress in their manifesto. She claims the reason for the fiscal deficits in India is simple. Low taxes. Oh yes you read it correct. The reason for that is compared to developed countries we spend very less. Unfortunately she does not realize that the social security net increases as economy grows ..not the other way round. For example the system in us took decades to establish. But in India in the last 6 years the increase in social spending increased 10-15 times what it was. I am all for improving the social net but it should be based on enhancing self-sufficiency. Nrega or any scheme in place do not serve that. They offer short term relief. There should be short term relief for the needy but as a government we also need to focus on the longer. Not to mention the skewed rural economics because of the scheme. Social security in the US does not result in a skew of the system. The Non-work wages paid are less than the economical equivalent of a working wage. This is ignored conveniently by the author.
I am actually surprised the author got to write a 5 piece with her logic and dubious theories
by Sukumar on Arvind Kejriwal. You might not agree with his "Vision" but what he is doing is very good for the country. I hope he continues revealing the "deals" and ensures justice is pursued (lets think of justice being administered later).
to read what Kejriwal things is the way ahead. he sounds more like an anarchist than a leader. More here.
One of those weird days. Time moves slowly. the weather is dark and listless. I have lots to do and I sit in front of my laptop wasting time.
anyway... all the reviews are finally out. 7-1. I am pretty pleased. Not all comments were nice; but well I am still a nobody so I can live with that. Lets see how things go from here.
i have seen comments on facebook on how EU does not deserve a nobel peace prize. I mean common folks, before you post such comments just look up what EU is. It is a n organziation that has been there for 50 years. They should have done soemthing right!
See a piece here on how the award was too late!
Excerpts
To be fair, the EU is certainly deserving of the award, having finally brought peace to a conflict-ridden continent whose constituent nations and reckless leaders were responsible for perpetuating conflict in Europe and the rest of the world for over a century. Today, thanks largely to the EU, war is “unthinkable” at least among Europe’s key countries. The EU is also justifiably credited with democratizing the birthplace of both left-and right-wing totalitarianism as well as making Europe—until recently—an economic powerhouse.
Well, Sandipan Deb hits the nail on its head as usual here
Kejriwal has chosen his first two targets very well. One, Robert Vadra, the first son-in-law, whose avarice seems matched only by his stupidity. It was a shameful spectacle to see senior Union ministers falling over one another to declare the charges “baseless” and proclaim Vadra’s innocence. It was proof, if any more was needed (it really wasn’t) that Congress politics is at its core a pathetic sycophancy.Salman Khurshid, who won the first lap of the sycophancy race by announcing that he would “die for Mrs Sonia Gandhi”, has now been pilloried. Great choice. He is the law minister, and the allegation is that his wife’s non-governmental organization (NGO) has been siphoning money meant to aid the disabled. And it’s just days after a Hindi channel did a sting on the NGO’s workings, and Uttar Pradesh’s leading Hindi papers are publishing more news every day of how the NGO’s reports are full of lies. Now there is hard evidence that the Congress workers have been scampering to supply hearing aids and wheelchairs to people who were supposed to have received them two years ago. Trouble is, some of these supposed beneficiaries are dead, and others can’t be located—they were possibly fictitious anyway. And of course, the question Kejriwal has raised is absolutely valid: If it is a private NGO, why are Congress workers running around to cover up the filth?
with the reason given by this article for why Vadra did what he did
Damaadji entertained no such eminently sensible doubts, not even when deleting his FB account in a huff: “Obviously, it seems I have people on my Facebook account who do not have a sense of humour. Everything I write becomes news and further debates on television?? I have decided to delete my account.”
Obviously, Robert isn’t very good at comprehending the obvious.
Fall season is upon us and Montreal and it surrounding are quite beautiful. I have been in the Notheast for nearly 2 years now; but this was my first Fall season. I went on a hike yesterday. it was very enjoyable with beautiful colored leaves on the ground and on the trees. It is very hard for me to athom these beautiful colors naturally formed. Nature.. is truly awesome!
By Aakash Chopra here
Since the Indian team is going through a transition, it will need Dhoni's gambling instincts as a leader more than ever, for now he may have to make the team punch above its weight often. I'm eagerly waiting for him to stop playing the percentages and start following his instincts instead. Instead of being vocal about wanting rank turners at home, it would be better if he starts addressing the big issue, which is to build a team that will also succeed overseas.
Dhoni's cricket has always been more about the attitude than skill, and sometimes that's what is needed to succeed at the highest level.
Lets see what happens!
I probably am a cynic but with visions such as these your intent will not matter
The locus of decision making should be shifted to, or proximate to the people. As far as possible, power and the resources required to execute that power must be transferred to the village or ward level. Only those powers should be left for upper tiers that cannot possibly be exercised by local communities. People must be consulted directly on key national decisions. Citizens must be consulted on any decision that affects their life or livelihood”.
Full piece here
