Indians & India on Deepawali night

This Deepawali I received  some mails which carried information, besides good wishes.  It informed that the festival was celebrated in white house as well. It probably signifies the growing importance of Indian community in US. America is a democratic country  and each votes matter there also. Easy for us as we see hypocrisy  of our leaders every day.

Source :  Unknown

But the mail which I liked most was the one which had satellite view of India on the Deepawali night this year.  It was thrilling to see the difference between  Deepawali and non Deepawali night view of the country.  The dazzling view expresses the festive joy of the country.

There is another view also that strikes to mind.  Certain portions  on eastern side – part of Jharkhand, Bihar and Orissa  and on the western side  the desert of Thar  is still waiting for Ramchandraji to visit there.

Searching the web  an article on ibn site says, this picture is not related to deepawali, but has some other reference. Only God knows what is the truth !!!

 

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Onion price puzzle can not be solved without a vision.

Onion prices are once again on fire. Just before Diwali  festival it is inching to cross the mark of Rs 100 per kg.  Earlier in August this year onion had a steep rise in retail prices by almost 25% in a fortnight. Thus from the base of July price of ,once the  food for poor has almost doubled.

In August the government had termed that a temporary phase and had made claims that the problem will get resolved soon with arrival of new crop in the market. By end of September some correction was seen, but not only the relief got evaporated soon it escalated far ahead to touch new heights.

Commerce minister Anand Sharma blamed hoarders for the spike in onion prices and put blames on the state governments.  He forgot that Maharashtra which has largest share of 28% on supplies is ruled by UPA. Kharif  crop comes from Andhra Pradesh and Karnataka again no need to tell who

rules there.  Civil supplies minister of Delhi Haroon Yusuf also joined band wagon and alleged that hoarders were keeping supplies from reaching Delhi to sabotage Congress's prospects in the assembly elections.   In September theory put forward was that dwindling supplies have caused this havoc.

Supplies of onion in the market are low due to several reasons and needs to be understood for corrective steps.

First, planting this year is less than last year's because growers could not cover their cost in major growing areas.

Second, kharif onion sowed in the southern states was partially damaged due to occasional rains.

Third, the Nafed, responsible for managing demand and supply, has not taken timely action.

Fourth, arrivals from Maharashtra, a major producer of onions, are low because traders are hoarding the commodity in anticipation of better prices, while other growing areas, Andhra Pradesh and Karnataka, are unable to fill the supply gap from Maharashtra because of high moisture content in the new crop.

Fifth, the weakening rupee has augmented profits on exports despite the imposition of minimum export price of $650 per tonne.

Consequently, around two lakh tonnes less of onions was kept in cold storages while exports increased by six lakh tonnes during the last few months. The government expects that price of this politically-sensitive commodity will moderate from October after the arrival of new onion planted in kharif season in Andhra Pradesh, Karnataka and Tamil Nadu. However, some analysts feel that the onion prices will not cool down due to relatively low acreage, partial damage of production by rains and attractive export price.

The wholesale price of onion in growing states is Rs 45-50 per kg.  On Tuesday, the average wholesale price of the new crop at Lasalgaon was Rs 3,900 a quintal as reported by TOI. However, retail prices in different places are Rs 80-90 per kg. The huge gap of Rs 25-40 per kg in wholesale and consumer prices implies a margin of more than 50%. After subtracting the cost of logistics, 10-15%, the difference in cost price and selling price is still high.

A huge markup is taking place in the retail chain and traders are cornering huge profits. Onion prices have had a tumultuous political history and, therefore, the government is trying to control the price rise. It could impose an export ban or revise the minimum export price upwards and limit stocks for traders. However, these short-term measures would have a limited impact on prices and in solving long-term problems related to production and marketing of this essential commodity.

It seems that government agencies like Nafed are unable to efficiently monitor price rise regularly in the domestic market. Also, it does not take timely remedial action when there is a probability of a major shortfall in supply. So far, the government does not have any effective regulatory cell to monitor and foresee such abrupt increase in prices of essential foodstuffs with inelastic demand.

The issue of rising onion prices is symptomatic of a longer-term problem, which requires serious thought and quick action in food management. Warnings of a spurt in onion prices have been in the public domain for the last 3-4 months but the government has not responded with the required urgency.

Some speculation and hoarding must be taking place. But blaming only these for the price rise does not seem logical. Economists and the media have been alerting policymakers on this subject. A review of the causes of onion price rise needs to differentiate between long-run and short-run shortages since each has to be tackled differently.

The demand and supply gap is a major factor that needs deeper probing. The onion price rise is not an overnight phenomenon and cannot be attributed merely to reduced market arrivals from the major growing states. Rather, it is the result of production not keeping pace with demand, inefficient retail chains and lack of regulation in the form of a cap on consumer prices of food commodities.

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Can Priyanka take on Narendra Modi?

Congress has started giving signals that it can sacrifice “Prince – Rahul “ to hold the forte in Delhi.  The media buzz says that the party is planning to make Princess Priyanka as  its face to take on Gujarat Chief Minister and BJP's PM candidate Narendra Modi and other regional parties.

Courtesy :  The Hindu

A section in the party doubts Congress vice president Rahul Gandhi's ability to lead the party in a high decibel campaign, but fear to say in open. This group has been worried about the lack of courage Rahul Gandhi has to lead from the front  and  fluctuations in his behaviour. Because of this party workers have lost hopes for the coming election. A group of congress party leaders like Kapil Sibbal and Rashid Alvi, who were first to appreciate the move,  feel that Priyanka's entry will do the same effect to Congress as has NaMo factor did to BJP.

The speculations began after Priyanka, along with her brother and Congress Vice President Rahul Gandhi held a closed door meeting with party workers in Amethi, in September. She in past has been campaigning in Amethi and Raebareli for her brother and mother respectively.

She had successfully campaigned for the Congress in Bellary in 1999 when was just 26 years of age. Her grace and looks like Indira Gandhi had lots of asset value to the Congress then. Same may not hold true today. Now, she carries load of “Vadra” surname. A name that raises many eyebrows due to defame land deals. This can become a liability on the congress.

But  Sonia has hinted to retire in 2016 from active politics. Dynastic seat of Raebarelly can not be given outside the family. Hence choice is little, her entry into national politics is certain. Question can be , now or after two years?

The approach can be as some media reports say, she can be tried in Madhya Pradesh.  Can address a rally there. If response is favourable it can be stretched to other states going for poll this year. Otherwise Priyanka will continue to focus on Uttar Pradesh for the general elections due next year.

Priyanka Gandhi Vadra’s emotion laden campaign with her children during the last  UP Assembly elections did not gain any advantage to the party. The law of diminishing returns applies  to emotions. She will have to do a lots of home work to get content in appeal where Rahul goofs up. She may attract crowds in some parts of the country. It is an advantage if crowd there should return home with a ray of hope  and not with echo of the stale rotten slogans.

Congress party this time is on a weaker wicket. All around image of corruption, mismanagement, inflation and poor economic scenario. It will not be easy for her to overturn Anti-incumbency and image of ineffective leadership.

But all these negative factors are for Rahul Gandhi too. Only advantage Priyanka might have is that voters are  not disillusioned with her so far. But she lacks the credentials what Narendra Modi has.  The party will not take risk of announcing her as a prime ministerial candidate. She will remain sister of a possible prime ministerial candidate. Unlike Rahul Gandhi, she is not even an MP.  She has no experience of running anything. Modi is elected chief minister of  a state for past 12 years.

Promoting Priyanka will be a straight downgrading of Rahul. Rahul Gandhi may be looking dwarf in front of NaMo, but nobody can deny about his hard work. His failure can not be attributed to him alone. It was mainly because of  unfocussed leadership of the party and lack of maturity in people around him.

Many say that he fails to inspire people because he lacks confidence.  His younger sister has political charisma which he lacks. Priyanka has additional appeal of being a woman- a factor that motivates many in election. But this yet to tested. If gone wrong may boomerang also.

 

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Samsung was number one Brand in Indian Market

South Korean brand Samsung leads with 31.5% share compared 27.2 % of Share of Nokia. Nokia is a Finland’s brand. During FY 2012-13 total market size was of Rs 35,946 crore.  This grew @ 14.7% where as Nokia recorded a drop of 18% in its revenue.

Source :  Economic Times Ahmedabad Edition

During period Samsung grew by 43.6%. Samsung’s advantage was due to wide range of models and varieties compared to Nokia and other brands. Samsung range starts from Rs  1,500 to Rs 50,000.

Nokia failed to judge the growing popularity of dual sim mobiles and Android platform. Micromax Informatics, Karbonn Mobiles and Cupertino-based Apple have grabbed the next three positions after Nokia with 8.7%, 6.4% and 3.6% share of the market, respectively. The rise of smaller local players in India like Micromax, Karbon, Lava International, and Zen Mobile clearly indicated that consumers want cheaper feature rich phones.

To capture Indian market  Apple made some changes in its sales strategy to attract tech savvy youth consumers.  Apple's revenues grew over four times to Rs 1,293 crore in FY13, compared to Rs 250 crore a year ago.

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King of Brand is Changed after 13 years. Apple topples Coca Cola

Apple, co-founded by Steve Jobs in 1976 is the new most valuable brand in the world, according to a closely followed annual report about the values of the brands. Based  on Interbrand estimates the value of the Apple brand at $98.3 billion. Interbrand is a corporate identity and brand consulting company owned by the Omnicom Group that has been compiling  the Best Global Brands report since 2000

Apple replaced Coca-Cola as first among the 100 most valuable brands based on criteria that include financial performance. Apple has risen very fast on the brand ladder recently. Brand Apple was No

. 2 last year, climbing from No. 8 in the 2011 report.

Bad thing for Coca Cola is that it has fallen to third spot after google in the list. The value of the Coca-Cola brand also rose, by 2% to $79.2 billion.  Coca Cola was on the top spot for last 13 years. Branding which used to be a war between the soft drink makers has  now shifted to technology. Out of the top 10 Best Global Brands for 2013, five are in technology: Apple; Google; Microsoft, No. 5, unchanged from last year; Samsung, 8, compared with 9 last year; and Intel, 9, compared with 8 last year. At second spot in the new report is : Google, which rose from fourth place last year.

Bad news for technology brand was- BlackBerry, which tumbled last year to 93 from 56 in 2011, has disappeared from the list. Nokia is the biggest faller. It dropped to 19 from 14 in 2011, finished this year in 57th place among the 100.

Most talked about brand - Facebook, climbed to 52 from 69 last year, its first year on the list. Among non-technology brands, a notable addition to the list was Chevrolet, at 89, the first General Motors brand to rank among the Best Global Brands. Chevrolet is sold in 140 countries.  The  attributes of  Chevrolet ads  play up like “value for money and designs that move hearts and minds.”

Although “Coca-Cola is an efficient, outstanding brand marketer, no doubt about it,”  Jez Frampton, global chief executive at Interbrand, said Apple and other leading technology brands have become “very much the poster child of the marketing community”.

“Brands like Apple and Google and Samsung are changing our behaviour: how we buy, how we communicate with each other, even whether we speak with each other,” Frampton said. “They have literally changed the way we live our lives.”

In nut shell consumers would switch brands to “one that was associated with improving people’s lives,” as said by Sue Shim, executive vice president and chief marketing officer at Samsung.

 

 

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Co-operative banks again expanding to Gujarat

After Ketan Parekh scripted Madhavpura Bank scam in 2001 cooperative banking  in Gujarat had collapsed. But now, eight cooperative banks, mainly from Maharashtra,  have expanded their wings again in the state. Due to a ban on issue of new cooperative bank licences by Reserve Bank of India they have adopted the mergers and acquisitions (M&A) route.

Madhavpura Bank : Ketan Parekh  Inset

Gujarat had 351 banks operating before the scam. The number dropped to 232 banks after many were merged or liquidated.  According to Gujarat Urban Cooperative Banks Federation (GUCBF)  data, cooperative banks have 88.39 lakh depositors. The total deposit with them is estimated to be above Rs 23,700 crore. Net NPA is estimated to be below 1%.

 

After, set back due to scams, Pune based cosmos bank was first to dare to enter the state, in 2006. It acquired Cooperative Bank of Ahmedabad and Baroda-based Unnati Cooperative Bank.

Other entrants are  Abhyudaya Bank, Saraswat Bank, Shamrao Vithal Bank, New India Cooperative Bank and TJSB Sahakari Bank, all from Maharashtra. Adarsh Bank is from Rajasthan.  Janata Sahakari Bank and Zoroastrian Cooperative Bank too are also poised for an entry.

Cooperative banks have now  equipped themselves with core banking solutions needed for the new age net banking.  They are stringently inspected by the RBI, under Section 35 of the Banking Regulation Act, 1979-AACS.

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Overdependence on caste and a section of votes  instead of governance was the reason of ouster of Lalu Raj in Bihar ten years ago. The same factor now, has infused hopes again in his camp. Loss this time was to Nitish Kumar  who overplayed  “muslim vote bank” to lose Mahrajgunj by-election.

This seat in 2009 was also with RJD  so there is no gain in the tally of RJD, but a year later in 2010 five legislative assembly seats out of six falling under this constituency were won by BJP-JD(U) alliance.   In 2005 Lalu and his party RJD were  more dependent on “MY (Muslim, Yadav ) factor” than governance.

Can they come together?

Muslims ditched him and power slipped in the hands of Nitish Kumar.

Overwhelming success of 2010 has fitted wrong calculations in the mind of JD(U) leader and the Chief Minister of Bihar that all the victory was only because of 15% Muslim voters. Although his governance is not as bad as was Lalu’s mismanagement. But  Modi centric propaganda to win over muslims, misfired this time.

Nitish Kumar had to clarify after by poll results  that BJP-JD(U) has not broken and would continue. This came only a day after when in Delhi he ignored Modi publically  as noted by TV news channel cameras. BJP is all set to contest coming elections under the stewardship of Narendra Modi. In such a scenario how long will the alliance last, if the bone of contention is Namo.

Political reality is that  the BJP needs Modi more than sustaining the alliance with JD(U) in Bihar.  If the alliance breaks then according to a survey carried out by India Today group JD(U) would be bigger loser than BJP. But the survey reflects public’s perception, whereas alliance depends on leader’s perception. There is no doubt that a large section of ambitious leaders in BJP still want to avoid projecting Gujarat Chief Minister to a high profile position.

They all know that BJP is passing through a transition phase like Congress passed in 1969 when Indira Gandhi sidelined group of  all senior leaders – called “ syndicate” and took charge of Congress. Later she was the focal point of Indian politics till she survived. Working style of Modi in Indian context resembles her. In less than one year time this will be clear whether Modi becomes next Indira Gandhi or V.P. Singh, who was also hyped to a popularity wave, but was the biggest failure in providing right leadership.

The only difference between the times of now and 1969 or 1988 is that the breakaway leaders then – Indira or V.P. Singh,  had many sympathizers in media where as Modi has many critics  in media ready to gun him down. This criticism is not new to him nor to readers & viewers so these commentaries will hardly shape the opinion of the voters.  Majority of the Indian are looking for a leader who can take  decision on its own rather waiting for a remote to get pressed. This is the advantage Modi.

He can also be next Advani who was projected thrice by his party – 1995, 2004  and 2009 to have a consistent record of putting party on opposition benches. Yet he has ambition to get projected fourth time. What ever it may be “M” factor is crucial in the elections whether it is Muslim vote bank or Modi. Outcome this factor is unpredictable.

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Will Goa be Second Time Lucky for Modi?

Goa is likely to be second time lucky for Narendra Modi. He may or may not be declared prime ministerial candidate there, but party worker’s trust on him would be stamped.  Three day BJP national executive meeting will begin on 7th  and at the end of third day L.K. Advani’s dreams of becoming PM of the country one will meet the same fete as were the dream of former Chief Minister of Gujarat Keshubhai’s in the year 2002.

Shivraj and Modi

The mood and support of Goan BJP workers can be judged from their demand to   hold a public meeting even in the rains because they want to hear ‘Modi ji’ speak. They are prepared to come with umbrellas. Their eagerness to hear his vision for party for 2014 gives similar reply party workers gave to Vajpai eleven years ago.

When  last BJP national executive meeting was hosted by Goa in the summer of 2002, there was clamour for Modi’s head both within the party and outside it. Post Godhra riots were the major ” masala”  for 24 x 7 news channels. The meeting however turned the swing in the BJP in Modi’s favour after then prime minister Atal Behari Vajpayee had no choice but to  back the Gujarat chief minister. Keshbhai who was waiting in wings to be crowned again had to seek VRS.

Modi's name as campaign committee chief may be announced here sidelining the objections of L.K. Advani et al.  Modi’s name for this position was first mooted by Nitin Gadkari towards the

L.K. Advani on the verse of Retirement

end of his tenure as party president.  The claim was strengthened after victory in the Gujarat assembly elections.

However, not to give full credit to Modi and to keep the leadership debate open Advani camp is insisting to have  separate election management committee set up under  different persons to oversee the assembly elections in Madhya Pradesh, Chhattisgarh, Rajasthan and Delhi. Modi can head campaign committee for the Lok Sabha election next year.

To garner support of RSS headquarter he praised MP Chief minister Shivraj Singh Chouhan and called him a better administrator than Narendra Modi. Shivraj Singh is  a low profile leader close to  RSS leadership.  He is working more under the guidance of Nagpur and enjoys good relationship with VHP. He has pushed the Cow Slaughter Bill in Madhya Pradesh, introduced surya namaskar in schools and encouraged the singing of vande mataram in government offices.

This is an irony that JD(U) and Nitish Kumar also find him more secular than Modi who is in the hit list of VHP, under whose rule many RSS and VHP leaders are put behind the bars and average per capita income of muslim population in Gujarat has grown more than hindu population.

This political riddle can be understood only if we can understand why did UPA government decided to vote against Sri Lanka in United Nations knowing well who killed their known leader Rajiv Gandhi  or if we can explain why responsibility of 1984 anti Sikh riots should not be fixed with the then government in power.

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 Post humiliating defeat in Karnataka  the lesson  for BJP or any political party is – handle your internal issues  well – Public does not support a party which fails to support its own leader.

Yeddyurappa

One can count many reasons of the debacle of BJP in the state, but the main was Yeddy  who nailed  party’s coffin in the state. This is  not the first time when BJP failed to retain its forte or missed the opportunity to sustain.  Post 1998, when BJP was at its peak, the only act which its  leader have performed repeatedly is to pull legs of their own colleague. 

This is a party with difference and so all its  leaders have maximum differences with each other.  When we try to recall the success leaders of its recent past – UP - Kalyan Sinh, MP- Uma Bharti, Uttarakhand – Khandoori, Karnataka – Yeddyurappa and Babulal Marandi in Jharkhand.  There can not be any other parallel example in post emergency period of Independent India of booting out the heroes.  

This is altogether a different story that electorates do not support defectors. History of Indian Politics does not give any favourable data on the defectors. In the recent past one can analyse – Yeddyurappa, Uma Bharti,  Keshubhai and Kalyan Sinh from BJP  and Sangma first from Congress and later NCP.  Shrarad Pawar saved his career by  going back in the shelter of Congress. This gives the Congress a natural advantage to rule.

Babulal Marandi

  It  is surprising that  both the main national parties are run by the leaders who have no support base. The decisions in both the parties are taken on the basis of caste and religion. Congress scores over only because there is no dispute on the number one and number two positions, so all competition in Congress is to get close to the Gandhi family or Ahmed Patel – their money manager.  This attitude of these nation parties has given rise to parties like BSP, SP, JD, DMK etc who polarise electorates only on caste factor.

Brahmin- Thakur lobby in BJP has been very strong. This dominating lobby always tried to sideline leaders like  - Kalyan Singh, Uma Bharti, Yeddyurappa  and Narendra Modi. Opposition to Modi is more  from this lobby than Nitish Kumar or Uddhav Thakre.

The larger question the BJP has to confront is why mass leaders of the stature of Babulal Marandi, Kalyan Singh and Yeddyurappa were forced to seek their fortune outside the so-called ‘parivar'.  Even if we dismiss the caste based mentality of remote holders, it is evident that the baseless leadership in Delhi does not know how are successful teams created. Because leadership is more than embedding “Shayri” in the speech.

These leaders  of non upper caste would not have left the party  and weaken its base forever, had the party’s central leadership  not backed their upper caste rival in the state to sideline them.  BJP has slipped to fourth place in UP where it  ruled for three terms  and elected 50 MPs in the best ever performance in 1998.  Karnataka they are now at third spot and if no immediate corrective step is taken it will  be wiped out from the political history of  the state.

 

Only True Leader of BJP

Vajpai, Advani and Murli Manohar Joshi were the main leaders of BJP  during its building stage in 80s and 90s.  All three were good orators, but Vajpai scored  over others not because of his speech alone, but more because of the matured diplomacy.  After 2002 riots in Gujarat the whole of pseudo secular  and Brahmin Thakur lobby was demanding ouster of Modi. In the most publicised statement Vajpai said,  “Rajdharma” should be observed. No judgement whether Modi was following the same or not. Each commentator analysed this statement as per their convenience.  Modi was allowed to continue.

 

Compare this with recent comments of Advani on social media, blaming each and every body in the party without accepting his own share of responsibility in  messy affairs of BJP. He might have been a giant leader of in his hey days, but was never accepted as number one ahead of Vajpai.  Today’s generation finds him outdated.  He sportingly should take up the role of a mentor, his time to generate confidence in masses is gone.

 Advani still can find support from those who feel having left behind in the race of PM – a dream which is distant for BJP. The game spoilers will prefer to push forward his name and ensure that 2014 out come is not better than 2009.

 

 
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History never tells Lies

Politics is an  art of not learning from the past. NDA and BJP lost election in 2009 not because of any charisma Congress and its allies had, but because leaders of NDA were busy pulling down each other. Nothing has changed in last 4 years. They still get into the trap of congress and start defeating each other forgetting that they fight election against UPA and not against each other.

 

All official and unofficial spokesperson of Congress keep on challenging BJP to announce its prime ministerial candidate. To this reaction comes from BJP’s allies JD(U) and Shivsena. It is in the interest of congress that NDA should lock horn on this issue. Union minister and National Conference (NC) president Farooq Abdullah, as quoted by a news paper, echo the similar view, “You don’t know the Congress. They want Modi to come to the central politics. They will be greatly benefited from that,” he said, explaining that anti-Modi forces out of fear would consolidate behind Congress as had happened in the 2004 general elections.

Modi is a popular leader of mass in Gujarat.  How much wave he can create outside Gujarat is yet to be confirmed.  On this ground all his competitors- Nitish Kumar and  Shivraj Sinh Chauhan also fail. Thus,  veteran L.K. Advani and out of focus Sushma Swaraj come in the race. The rational thinking should be  to give the command to the one who is visionary,  who can lead India come out of the current economic crisis.

If we compare the  ruling models of three state – Bihar, Gujarat and Madhya Pradesh as an alternative to UPA policies then it comes  on surface that  Nitish Kumar lacks the vision what both CMs of BJP ruled states have. After having ruled for eight years Bihar Chief Minister does a public meeting in Delhi to seek status of “Special State” for its state.  A  demand which in analogy goes to Jat & Gurjar reservation agitation.  Special status and reservation are not the solutions and they never bring true “Inclusive development”.
Presently, 11 states have the special-status tag: the seven North-eastern States, Sikkim, Uttarakhand, Jammu & Kashmir and Himachal Pradesh. The special-state status governs Centre-state finances. It entails a state getting a bigger share of the Centre’s resource pie and significant excise duty concessions to help industrial development.

This support can help to a state which has wilful leadership. A leadership which makes policies for the entire society and not for a section of the societies.  Most damage done by congress rule of over sixty years  is that it always made policies in parts for different sections of society. Before framing a policy it fragments the society, finds out whom to pacify this time and draft the matter.

Let us try to come out of this exercise as a nation. The reason why Gujarat has remained communally peaceful in last 11 years is only because no separate thoughts are applied to pacify Hindus and Muslims in parts.  The media managers who keep on beating trumpet of 2002 riots, do not analyse this fact, so the positive side of governance remains hidden.

In march this year at India Today conclave, Modi  put forward his vision of leading nation with well proven principles of economics. He reminded that the business of governments was not business.  During his time Gujarat has harnessed more of the renewal energy to meet the power supply. A larger population is getting water to drink. The solutions  which Rajasthan and Tamilnadu should have aggressively followed.

Providing subsidy is another way to bring inculcate inefficiencies. Bihar, Orissa, Jharkhand and Chattisgarh had most of the natural resources on which they could prosper. Corrupt politicians and caste ridden society has made them “BIMARO” – the ailing state.

Chhatisgarh has made a good effort in last 10 years  by transforming coal reserve to electricity and become power hub of the nation. It is the government which has to provide solutions and not cry for the help. Had Nitish tried to introspect, why are industrialists not investing in his state and had  he tried to provide solution, Bihar could have been a role model.  

How are grants  earned in return of supporting a minority government at centre used can be seen in Uttar Pradesh. The money  is wasted  on expenses like salaries of bloated staff or grandiose projects  to put statues and make parks or distribute some gadgets instead of making higher education free.

 What India needs today is aggressive approach to grow like Gujarat and  inclusive model for semi urban and rural like Madhya Pradesh. Along with an honest will to get corruption free.

Budget 2013 - An Opportunity Missed, but election funds will flow

The last budget of UPA before going  to election in 2013 or  2014  was an opportunity for the prime minister Manmohan Singh to show what difference does it make to be an economist.  From the budget, presented by Finance minister Chidambaram it seems that whole government is busy in covering up the scams and has no time to think about serious mattes like yearly planning and resource allocation.

Had No Time, This time

Though there is nothing to talk about  it, but still a few recommendations of budget are worth noting.  Most important is its efforts to collect election fund.  It wants to award in the next six months 3,000 kms of road projects in Gujarat, Madhya Pradesh, Maharashtra, Rajasthan  and Uttar Pradesh.  These toll roads would add little more liability on Indian public and business, but ….  …  ..

Next is  an effort to please the builder lobby.  By an estimate in Gujarat alone more than three lakh of  ready flats  were unoccupied by Dec’2012.  This was because of unrealistic high rates demanded by the project developers.  To increase their sale the finance minister  has  recommended  an additional deduction of interest upto  Rs 1 lakh for a person taking first home loan upto  Rs 25 lakh during the period of 1.4.2013 to 31.3.2014.  I have  no statistics about the benefit DLF and similar other companies will get from this recommendation around Delhi and Moradabad.

To buy a  house or land there are two components  to be paid – one through cheque or draft for the amount which is reflected in the documents – on which stamp duty is paid.  Other,  which is forced to be paid  in cash  and no receipt is issued.  This is what looks  as a black money to baba Ramdev. 

High duties and restrictions are the main reasons for under valuation of property in documents.  To add to the plight  honourable FM has recommended  a TDS at the rate of 1 percent on the value of the transfer of immovable properties where consideration exceeds ` 50 lakhs. Agricultural land to be exempted. Increase in  floating black money in land  and building deals – pet of all politicians and  government officers

The government has taken no steps to improve law and order  or speedy resolution of court cases after hue and cry in December 2012.  The message is that the Current Status Quo will be maintained. But to deal with  media highlighted cases  a fund - “Nirbhaya Fund” – is to be setup with Government contribution of Rs 1,000 crore. Is  this the solution?

Only provision in this budget liked by me is Rs 15,260 crore allocated to Ministry of Drinking Water and Sanitation and Rs  1,400 crore provided for setting-up of water purification plants in 2,000 arsenic  and 12,000 fluoride-affected rural habitations.

A  better budget can not be expected from a  finance minister who puts two times unplanned expenditure estimates than the planned  for which allocation is at Rs 5,55,322 crore. Against this  Non Plan Expenditure is estimated at ` 11,09,975 crore.

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