Tuesday, April 15

Budget 2008

View:
The ruling government’s decision to curb the problems of Indian farmers by giving a waiver of 60K crore is come of as a reprise for the farmers. Now majority of the rural people dependent on agriculture for their income will not have to think of repaying the loans taken and also, there’ll be no need to shelve out anything from their income to return to the loan collectors. So this has come as a huge sigh of relief to our Indian farmers. P Chidambaram has not even put the banks in any kind of dismay by issuing bonds to them in place of the loan waiver done for the farmers. So this 2008 budget has finally something in store for the rural population of the country, as well as for the banks. But it has not dismissed its urban crowd even. The tax slabs has been raised which will benefit men, women and adults the most, as they’ll be having more of savings, and more power to spend the saved salary in an effective manner. So, the government is in a way, all set to fight for the next year elections by gaining the vote bank of not only the poor farmers but of urban crowd as well. The excise duty on goods has been reduced. The bringing down of CENVAT from 16% to 14% has led to reduction in prices of goods which has more affordable for customers to buy. And to add to it, the sixth pay commission and 27% quota for OBC’s acted as an add-on to the budget for the Manmohan Singh’s government. No matter what, but the next year elections will not be an easy job for the rest of the parties as they’ll face a stiff competition from the congress coalition with the majority of the Indian population in their pinky-pocket. All the best to Manmohan Singh’s new cabinet government.

Counter View:
The waiver given to the farmers should have been given in earlier budget years not in the final one which clearly gives a vicarious picture about what’s up in the ruling party’s mind. It’s more of an economic game played by the government to secure their seat for the next year elections as majority of the crowd puller will be dominated by the rural society. The Fm has issued bonds for the banks in successive years, but what if next year the government changes and the new cabinet scrap away this policy of giving bonds. Who will redeem the money of the banks? No, not the government but the population of the country by indirect means. So it’s the common man who will suffer the heat of the loan waiver. Plus, majority of the farmers who took loans were not from banks but from money lenders. So, the government should have taken some constructive thoughts before giving the waiver. The motive to gain the political bank through the financial budget might prove fatal to the present Indian government. The tax cuts given, again is an alarming factor. People will not spend much and the revenue which was supposed to be collected from their expenditure for infrastructure development will not benefit India at all. The tax cuts were done to spur the growth but that is possible only when the incentives were high demand was low. This would have helped in spurring the growth. If the congress government is of the view that increased savings and liquidity enhancements will prompt the salaried generation to spend more in the market, then they are in a wrong belief because more will be the spending, more will be the demand and with shortage or resources and supply, there’ll be inflation as the price of commodities will rise because of increasing power of the generation to spend. This is already putting the government on the back runner. The price of goods have sky rocketed and there’s no stopping for it as the inflation as already cross the 7.41 mark on wholesale price index. How good the picture becomes if one adds the US recession to it. The increase in short term capital gains would have been better then mentioned. More affordable things will become for the Indian population, more will be the rise in inflation. The loan waiver already led to fall in banking stocks in the market. Awards should have been given to the farmers who paid their loans in time and from next time onwards, no loans should be given knowing the fact that farmers won’t be able to pay it later. Reward system should have been adopted. Let’s see, how the congress empire performs in the next elections.

Friday, April 11

Mumbai


It was always a dream to be in Mumbai once, the economic hub of the country, the land from where RBI or stock market operates and controls the economy of the entire nation. Delhi was no doubt the political hub but the feel of being in Mumbai - the place from where the vibes of film industry permeates in all parts of the world, was always in high spirits. It was for my tiss interview that I landed to such a beautiful place from Chennai. The pleasant weather added more to its beauty. It was Pune always before Mumbai where I found people so helpful and supportive. Although I didn’t have much of a chance to explore the place but the experience of being there was out of this world. I guess majority of the population in Mumbai is in 25-35 age line. The lively crowd all around, their helpful nature and openness in their mentality with zero parochial-ness just gave a tunned and enticing impression to an outsider to settle here in this part of country for the rest of their lives. the westernised culture sends flickers about the new booming India. women are free to move around without any place or time bounds. Santa Cruz, bandra, chembur, deonar; you name it; there’s no place where you won’t find this so energetic and vibrant crowd. The shops are overloaded with cool stuff and upon that people just happen to suffuse the markets. The entire scene looked like Delhi’s chandni chownk. How can I not mention about the food of Mumbai, no matter what you consume, you’ll always find the touch of sugar in everything they cook giving a sweet taste to the palate. People address all the rich Mumbai-tes as motabhai there. Last time, I heard this word was in the movie ‘guru’. I would love to come back to this place and that too not for a return trip but for a final settlement. I can only pray for this place to be my home in future and keep prospering in the same way as it’s happening presently. A great place and my stay there for 3 days will always be an unforgettable one.

When IIT Chennai Rocked...


Never ever I’d thought in my life that I’ll be able to make it to one of the most prestigious institutes of our country where all the techno freaks pileup and stay there for 4 years brainstorming new ideas. Yea, am talking about none other than Indian Institute of Technology, popularly known as IIT. It’s not that I got admission there coz very soon I realized after the exam crash the technical void within me to play on logics and prove concepts so I finally left it on to others to fiddle with technology and me enjoying the happy consequences of the advancement in it.
My employer deployed me in Chennai for 2 years where i got a chance to visit IIT and know about it. Making new friends and contacts was always an easy job for me. The campus was more of a vintage place from the past but gave a feel of a new world every time you step inside the premises. It’s been made out by shaving the jungle during the British raj and developed a learning institute in its place. My friend invited me to a farewell party thrown by first yr. guys for the final yr. Students. It was more of a rock night then a farewell with all J&S (juniors and seniors) playing electric guitars, drums, flute and piano. The flickering lights from the stage spilled the enigma of rock in air. The vibes were omnipresent in the hall. Once the party house rocked inn, the animals were out and took to head banging, going nerd and thrashing all that they could lay their hands-on. It would give an absurd feel to a peace over. There was screaming all round the hall which had almost put the lead vocals on the back runner. Professional band udaan was invited to play few numbers. The so-called management freaks played songs from audio-slave, the Coldplay, Dream Theater and many more. Everybody went numb in the dark night. They were playing as if they won’t stop tell the next dawn. After the bash, I had dinner with my friends there and they asked me to stop for the last number to be played, which was none other than the balatkaari song, which worked as the Chocó cream on the cake. With such a heavy music set in, the syndrome of being musically affected was all over. The fumes were rising from the head and the heart and each soul present was urging the professionals to play one more record to make it rest in peace forever. Well, I must say this was one farewell or call it a student in-house concert night which I’ll remember for a long time. This IIT jail’s farewell party really rocked that night.
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