Sikkim farmer get appreciation for innovation with aromatic rice
GANGTOK (Commodity Online): India's Directorate of Rice Research has appreciated Kailash Rana Manger, a progressive farmer from Sikkim, for innovations in rice cultivation and he was called as the rice innovator of Sikkim during the ‘Innovative Rice Farmers Meet 2011’ held in August at Hyderabad.
Manger had been appreciated for his innovative replacement of ‘Kalo Nuniya Dhaan’ in place of local scented variety for a high yield, fragrance and fixed black coloured grants.
‘Kalo Nuniya Dhaan’ is known as the “prince of rice” and is considered the best tiny aromatic rice in the world, a substitute for basmati rice.
With 20 years of experience in farming, Mangar gave his presentation on ‘Kalo Nuniya Dhaan’ during the meet at Hyderabad.
Acccording to Manger, a scented rice cultivar was first brought from a progressive farmer of Maal Bazaar, Jalpaiguri and is capable replacing of local rice variety Dudha and Tulsi.
He does farming in 3 acres land on lease basis of Rs. 20,000 per annum and had introduced this new variety of rice last year by obtaining 3 kgs of seed from a progressive farmer of Jalpaiguri and sowed the seeds using the System of Rice Intensification technique with guidance from Krishi Vigyan Kendra (KVK), Saramsa under Indian Council of Agriculture Research (ICAR).
The production was 4 quintals of rice which surprised him as it was four times more as compared to the other local varieties.
Mangar sold the produce at Rs. 8000 per quintal. He used to sale local variety at Rs. 2200-2500 per quintal. This year, Mangar is expecting a harvest of 16 quintals of rice from 6 kgs of seed.
He explained that the ‘Kalo Nuniya Dhaan’ plant has 25-28 tillers per hill with panicles of 20-20 cm and 156 grains per panicle. Not only the rice, even the straw of this variety is highly demanded as it has good nutritious value and is used as fodder for cattle.
Mangar pointed out that many farmers have given up agriculture due to increasing labour costs. Farmers who have small holdings can go for this variety of rice which is much profitable.
This package of practices is standardized by the farmers and the cultivar is being adopted by farmers of different villages of the East District. The demand of Kalo Nuniya Rice is very high in other States as the farmers from Mumbai, Delhi, and Hyderabad already demanded him for seeds, he revealed.
Mangar’s hard work is not only limited to agriculture as he also does horticulture cultivating cabbage, cauliflower, Broccoli, Baby Corn and other vegetables. He has been able to sellproduce worth Rs. 11,000. He is earning Rs. 1.5 lakhs per annum through farming.
The farmer is also a beneficiary of Department of Biotechnology Project of the KVK.
Friday, December 30, 2011
Wednesday, December 28, 2011
SIKKIM earthquake:Experts list safety loopholes
SIKKIM earthquake:Experts list safety loopholes | |||
| source:Telegraph | |||
Jalpaiguri, Dec. 26: An IIT Madras team of experts has said a series of lapses in different quarters multiplied the extent of damage to buildings, roads and monasteries in Sikkim during the September earthquake. The experts laid stress on immediate rectification of such faults in case there are fresh tremors in future. C.V.R. Murthy, a faculty at IIT Madras and a member of the seismic code committee of the country, said several shortcomings had aggravated the damage to roads, buildings, monasteries and the communication system in the state. “On the basis of our observations, we have come up with a report which had been sent to the government of Sikkim and to the Centre. It is important that a systematic earthquake-safety assessment is done and corrective steps are taken to mitigate the loss in case an earthquake occurs in the region in future,” said Murthy. He was here yesterday to attend a seminar on earthquakes at the Jalpaiguri Government Engineering College.
The Sikkim government had appealed to various quarters, including IIT Madras, for expert opinion on the quake-triggered damage suffered by the state and means to mitigate the loss. The report said studies and research on mountains, slopes, soil and other geological factors had not been conducted in recent years by any government agency, and traditional housings were abandoned and replaced with concrete structures and high-rises in defiance of building norms. “There was no quality control and the techno-legal regime is absent in the state. Further, the post-earthquake damage assessment was not understood by local engineers and most importantly, the state lacks adequate number of engineers and architects with requisite knowledge on earthquake resistant technology,” the report said. The 26-page report by experts, including two engineers from Hyderabad and Mumbai, also observed that there were no government engineering or architectural colleges in Sikkim to advise the government. “There are only two structural engineers and about 35 architects in Sikkim, whose knowledge on earthquake-resistance technology is not known.” The experts also pointed out lapses on the part of the government and civic authorities. “In Sikkim, there are no set standard municipal by-laws for construction of buildings and no standard procedures to see that the buildings are maintained. The sewerage-cum-drainage system in towns and cities, with ruptures in the channels and pipes, affects the underground soil,” the report said. The experts, who have also found that several roads were cut off during the landslide, said no soil data assessment was done before building the roads. Further, they have found out that while constructing roads, safety standards were not considered. “The construction techniques are not efficient, scientific or of good quality. No professional opinion was taken from structural geologists while working on a mountain to build a road,” the report said. The experts have also made a host of recommendations. They include evaluation of “landslide potentials” across the state before constructing roads, implementing safety standards in design while constructing buildings, safety assessment of existing buildings and developing a manual of good building practices while encouraging traditional construction. “To protect and conserve the monasteries, it is advised that the state government has a partnership with the Archaeological Survey of India,” the report said. “Also, formation of post-earthquake assessments teams are necessary to provide judgement on the status of a structure. Many structures were declared unsafe and demolished after the earthquake without consulting professionals.” “The safety check of all ongoing projects, including the 30-odd hydro power projects, should be made mandatory,” the report said. |
MTS opens second retail outlet in Gangtok
1
MTS, a telecom service provider operated by Sistema Shyam TeleServices with over 15 million wireless customers, has opened its second retail outlet in Gangtok at M.G. Marg.
Speaking on the occasion, Keshhav Tiwary, Chief Operating Officer, Kolkata and West Bengal circle, MTS India, said: “We at MTS are extremely happy to launch our second retail outlet in Gangtok. This launch is in line with our strategy to offer greater convenience to all our customers. We see Sikkim as a key market and going forward our plan is to further strengthen our retail network across the region.”
The new store will offer voice and data solutions and live demonstrations of products and services.
MTS’ telecom network is present across five towns of Sikkim including Jorethang, Singtham, Rangpo, Gangtok, and Namchi. The company under the MBlaze brand is also a mobile broadband operator in Sikkim with services made available in Namchi and Gangtok. MTS also provides mobile broadband services to more than 1.2 million customers in over 200 cities across the country under the MBlaze brand.
Sistema Shyam TeleServices is a venture involving equity participation by Sistema of Russia, the Russian Federation, and the Shyam Group of India. Sistema is the majority shareholder in the joint venture company which operates its telecom services under the MTS brand.
1
MTS, a telecom service provider operated by Sistema Shyam TeleServices with over 15 million wireless customers, has opened its second retail outlet in Gangtok at M.G. Marg.
Speaking on the occasion, Keshhav Tiwary, Chief Operating Officer, Kolkata and West Bengal circle, MTS India, said: “We at MTS are extremely happy to launch our second retail outlet in Gangtok. This launch is in line with our strategy to offer greater convenience to all our customers. We see Sikkim as a key market and going forward our plan is to further strengthen our retail network across the region.”
The new store will offer voice and data solutions and live demonstrations of products and services.
MTS’ telecom network is present across five towns of Sikkim including Jorethang, Singtham, Rangpo, Gangtok, and Namchi. The company under the MBlaze brand is also a mobile broadband operator in Sikkim with services made available in Namchi and Gangtok. MTS also provides mobile broadband services to more than 1.2 million customers in over 200 cities across the country under the MBlaze brand.
Sistema Shyam TeleServices is a venture involving equity participation by Sistema of Russia, the Russian Federation, and the Shyam Group of India. Sistema is the majority shareholder in the joint venture company which operates its telecom services under the MTS brand.
PM's Statement in Lok Sabha during Debate on Lokpal Bill
Following is the text of the Prime Minister, Dr. Manmohan Singh’s statement in Lok Sabha made while intervening during the debate on the Lokpal Bill today:
“There are some very special moments in the life of a nation. This is one such moment. The nation awaits with bated breath how the collective wisdom of this House will be reflected in the vote at the end of the debate on the Lokpal and Lokayuktas Bill, 2011.
The broad provisions of this Bill have been vigourously debated both in the public domain and by political parties. It is my honest belief that the Bill that is now before the House lives up to the promise that members of this House collectively made to the people of this country by way of the sense of the House at the end of the debate on 27th August, 2011. The task of legislation is very serious business and must eventually be performed by all of us who have been constitutionally assigned this duty. Others can persuade and have their voices heard. But the decision must rest with us. At the same time we must keep in mind the fact that corruption and its consequences eat into the body politic. We have seen how public anger has manifested itself in the last one year. Let us, therefore, endorse this Bill as proposed. In drafting this legislation we have had a wide range of consultations. We have been enriched by the wisdom of political parties and all shades of opinion have been taken into account.
I wish to state that when my Government was elected, we wanted our policies to be people-centric. We believe in transparent, open governance and the well-being of the aam aadmi is central to all our policy prescriptions. Our ideological commitment to ‘open governance’ led us to bring the Right to Information Act in 2005. To further our people-centric policies, we enacted the National Rural Employment Guarantee Act, 2005. The Right of Children to Free and Compulsory Education Act, 2009, is evidence of our desire to empower the disadvantaged and marginalized. The National Rural Health Mission addresses the health concerns of the poor in the rural areas. We have attempted to rejuvenate our cities through the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The Rajiv Awas Yojana aims to provide housing to the poor and homeless in cities. The introduction of the National Food Security Bill, 2011, is yet another step to secure the poor and malnourished from the consequences of hunger and deprivation. The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 seeks equity for the farmer and those deprived of livelihoods. We have tried to create a more egalitarian and inclusive Indiadelivering the fruits of growth to the less privileged. That is and shall continue to be my Government’s mission.
On corruption, our Government like none before has taken decisive steps. In the last one year, we have been working on certain landmark legislations. The Right of Citizens for Time Bound Delivery of Goods and Services and Redressal of their Grievances Bill, 2011, is before this House. The Public Interest Disclosure and Protection to Persons Making the Disclosures Bill, 2011, and the Lokpal and Lokayuktas Bill, 2011, awaits your approval. The Judicial Standards and Accountability Bill, 2010, has already been cleared by the Standing Committee and awaits Government’s consideration. The Electronic Delivery of Services Bill, 2011, is being introduced which will ensure that essential public services are electronically delivered at the doorstep of the citizen. These are landmark and unprecedented legislations. On the administrative side, our Government seeks to streamline decision making consistent with the principles of transparency and accountability. We are formulating public policy measures on procurement. A Group of Ministers has recommended elimination of discretion in administrative matters where possible. This is work in progress. We began with the Right to Information Act. We will not end the fight against corruption with the Lokpal and Lokayuktas Bill.
We must embrace a holistic approach in our fight against corruption. Our laws must be all pervasive if we are genuine in our endeavour. Legal sophistry cannot be used to argue that State Legislatures must not adopt the model law proposed or delay its enforcement. Corruption is corruption whether in the Union or in the States. It has no legislative colour. I urge leaders of all parties to rise above partisan politics to demonstrate to the people of India that this House means business in its effort to combat corruption. All of us are party to the resolution reflecting the sense of the House in which we committed to establish Lokayuktas in the States along with the Lokpal. We would be in breach of the promise that this House made to the nation if we do not provide for the mechanism of the Lokayuktas by taking recourse to citing articles of the Constitution as impediments. Such a course of action should not derail the sense of the House. I urge my colleagues in Parliament to rise to the occasion and look beyond politics to pass this law.
The Central Government is responsible for providing a limited number of public services directly to the citizen. The real problem lies in the domain of State Governments where the aam aadmi feels the pinch of petty corruption on a daily basis. It is for this reason that Group C and Group D employees have been brought within the ambit of Lokayuktas in States. Local as well as State authorities are charged with providing essential services to the common man. It is here that the bane of corruption needs to be combated. Water, electricity, municipal services, land records, policing, transport, ration shops are but a few examples of essential services provided by State and Local authorities that affect the life of the aam aadmi. Setting up of Lokayuktas in States will go a long way in addressing the sense of frustration that is reflected in the anger that we see around us.
Even the major flagship schemes of the Central Government are implemented by public functionaries working under the State Government. Everyday in this and the other House, Members express their disillusionment with the way our Central schemes are implemented by States. We need to remedy this. Unless Lokayuktas are put in place, the cancer of corruption will spread. Let us not delay the issue any further. Federalism cannot be an impediment in the war against corruption.
We believe that the CBI should function without interference through any Government dictat. But no institution and no individual, howsoever high he may be, should be free from accountability. All institutional structures must be consistent with our Constitution. Today we are given to believe that a Government that is directly elected by the people and accountable to it cannot be trusted but a body that will not derive its legitimacy from the people directly or be accountable to it could be trusted to wield its immense powers with honour and trust. No entity should be created inconsistent with our constitutional framework and charged with onerous executive responsibilities without any accountability. In the ultimate analysis, all institutions within the framework of the Constitution are accountable to Parliament and Parliament alone. In our enthusiasm to enact this law we must not falter. I believe that the CBI should function independently of the Lokpal. I also believe that the CBI should function independently of the Government. But independence does not mean absence of accountability. We have, therefore, proposed a process of appointment of the CBI Director which involves the Prime Minister, the Chief Justice of India or his nominee and the Leader of the Opposition in the Lok Sabha. None should have doubts about the integrity of this process. As far as the issue of CBI functioning under the Lokpal is concerned, my Government believes that this would create an executive structure outside Parliament which is accountable to none. This is anathema to sound constitutional principles. I believe that the Bill which is now before the House contains a judicious blend of functional autonomy and accountability of the CBI. I am sure that the wisdom of this House will rise to support my Government’s proposal as reflected in this Bill.
In the course of this debate, the bureaucracy has been at the receiving end. While I agree that public functionaries must be above board and that delinquents must be dealt with expeditiously and decisively, I must express my deep appreciation for many a public servant who have shown exemplary integrity in discharging their functions in an environment of distrust. I don’t think all public functionaries need to be painted with the same brush just as all politicians should not be presumed to be corrupt. We must not throw the baby out with the bath water. Without a functional, efficient administrative system, no Government can deliver for its people. Let us not supplant the system with one in which the public servants will hesitate to fearlessly record what they think and in that process endanger the very soul of good governance. In judging the conduct of public servants, we must not lose sight of the need to distinguish genuine and honest mistakes in the discharge of their duties from patently illegal acts. Very often our public servants have to take decisions under conditions of uncertainty. The future being inherently uncertain, it is possible that an action which ex ante appears to be rational may ex post turn out to be faulty. Our systems of reward and punishment must not lose sight of this fact.
All systems of governance must be based on trust. It is the people’s trust that we in Government reflect and protect. Rampant distrust of all authority imperils the foundations of democracy. Our polity with its enormous size and diversity can only be held together when we put our faith and trust in institutions that we have carefully built over the years. The power of the electorate is the ultimate authority which brings accountability to our democratic institutions. In endangering democracy, we will only be unleashing the forces of chaos where reason will give way to emotion.
We are creating something for the future in response to the inadequacies of the present. We have to be mindful of the pitfalls when we look into the future. Let us not create something that will destroy all that we cherish – all in the name of combating corruption. Let us remember that the road to hell is paved with good intentions.
We, as the representatives of the people, must act now to start yet another journey to rebuild the trust that is essential for a strong and vibrant India.”
Following is the text of the Prime Minister, Dr. Manmohan Singh’s statement in Lok Sabha made while intervening during the debate on the Lokpal Bill today:
“There are some very special moments in the life of a nation. This is one such moment. The nation awaits with bated breath how the collective wisdom of this House will be reflected in the vote at the end of the debate on the Lokpal and Lokayuktas Bill, 2011.
The broad provisions of this Bill have been vigourously debated both in the public domain and by political parties. It is my honest belief that the Bill that is now before the House lives up to the promise that members of this House collectively made to the people of this country by way of the sense of the House at the end of the debate on 27th August, 2011. The task of legislation is very serious business and must eventually be performed by all of us who have been constitutionally assigned this duty. Others can persuade and have their voices heard. But the decision must rest with us. At the same time we must keep in mind the fact that corruption and its consequences eat into the body politic. We have seen how public anger has manifested itself in the last one year. Let us, therefore, endorse this Bill as proposed. In drafting this legislation we have had a wide range of consultations. We have been enriched by the wisdom of political parties and all shades of opinion have been taken into account.
I wish to state that when my Government was elected, we wanted our policies to be people-centric. We believe in transparent, open governance and the well-being of the aam aadmi is central to all our policy prescriptions. Our ideological commitment to ‘open governance’ led us to bring the Right to Information Act in 2005. To further our people-centric policies, we enacted the National Rural Employment Guarantee Act, 2005. The Right of Children to Free and Compulsory Education Act, 2009, is evidence of our desire to empower the disadvantaged and marginalized. The National Rural Health Mission addresses the health concerns of the poor in the rural areas. We have attempted to rejuvenate our cities through the Jawaharlal Nehru National Urban Renewal Mission (JNNURM). The Rajiv Awas Yojana aims to provide housing to the poor and homeless in cities. The introduction of the National Food Security Bill, 2011, is yet another step to secure the poor and malnourished from the consequences of hunger and deprivation. The Land Acquisition, Rehabilitation and Resettlement Bill, 2011 seeks equity for the farmer and those deprived of livelihoods. We have tried to create a more egalitarian and inclusive Indiadelivering the fruits of growth to the less privileged. That is and shall continue to be my Government’s mission.
On corruption, our Government like none before has taken decisive steps. In the last one year, we have been working on certain landmark legislations. The Right of Citizens for Time Bound Delivery of Goods and Services and Redressal of their Grievances Bill, 2011, is before this House. The Public Interest Disclosure and Protection to Persons Making the Disclosures Bill, 2011, and the Lokpal and Lokayuktas Bill, 2011, awaits your approval. The Judicial Standards and Accountability Bill, 2010, has already been cleared by the Standing Committee and awaits Government’s consideration. The Electronic Delivery of Services Bill, 2011, is being introduced which will ensure that essential public services are electronically delivered at the doorstep of the citizen. These are landmark and unprecedented legislations. On the administrative side, our Government seeks to streamline decision making consistent with the principles of transparency and accountability. We are formulating public policy measures on procurement. A Group of Ministers has recommended elimination of discretion in administrative matters where possible. This is work in progress. We began with the Right to Information Act. We will not end the fight against corruption with the Lokpal and Lokayuktas Bill.
We must embrace a holistic approach in our fight against corruption. Our laws must be all pervasive if we are genuine in our endeavour. Legal sophistry cannot be used to argue that State Legislatures must not adopt the model law proposed or delay its enforcement. Corruption is corruption whether in the Union or in the States. It has no legislative colour. I urge leaders of all parties to rise above partisan politics to demonstrate to the people of India that this House means business in its effort to combat corruption. All of us are party to the resolution reflecting the sense of the House in which we committed to establish Lokayuktas in the States along with the Lokpal. We would be in breach of the promise that this House made to the nation if we do not provide for the mechanism of the Lokayuktas by taking recourse to citing articles of the Constitution as impediments. Such a course of action should not derail the sense of the House. I urge my colleagues in Parliament to rise to the occasion and look beyond politics to pass this law.
The Central Government is responsible for providing a limited number of public services directly to the citizen. The real problem lies in the domain of State Governments where the aam aadmi feels the pinch of petty corruption on a daily basis. It is for this reason that Group C and Group D employees have been brought within the ambit of Lokayuktas in States. Local as well as State authorities are charged with providing essential services to the common man. It is here that the bane of corruption needs to be combated. Water, electricity, municipal services, land records, policing, transport, ration shops are but a few examples of essential services provided by State and Local authorities that affect the life of the aam aadmi. Setting up of Lokayuktas in States will go a long way in addressing the sense of frustration that is reflected in the anger that we see around us.
Even the major flagship schemes of the Central Government are implemented by public functionaries working under the State Government. Everyday in this and the other House, Members express their disillusionment with the way our Central schemes are implemented by States. We need to remedy this. Unless Lokayuktas are put in place, the cancer of corruption will spread. Let us not delay the issue any further. Federalism cannot be an impediment in the war against corruption.
We believe that the CBI should function without interference through any Government dictat. But no institution and no individual, howsoever high he may be, should be free from accountability. All institutional structures must be consistent with our Constitution. Today we are given to believe that a Government that is directly elected by the people and accountable to it cannot be trusted but a body that will not derive its legitimacy from the people directly or be accountable to it could be trusted to wield its immense powers with honour and trust. No entity should be created inconsistent with our constitutional framework and charged with onerous executive responsibilities without any accountability. In the ultimate analysis, all institutions within the framework of the Constitution are accountable to Parliament and Parliament alone. In our enthusiasm to enact this law we must not falter. I believe that the CBI should function independently of the Lokpal. I also believe that the CBI should function independently of the Government. But independence does not mean absence of accountability. We have, therefore, proposed a process of appointment of the CBI Director which involves the Prime Minister, the Chief Justice of India or his nominee and the Leader of the Opposition in the Lok Sabha. None should have doubts about the integrity of this process. As far as the issue of CBI functioning under the Lokpal is concerned, my Government believes that this would create an executive structure outside Parliament which is accountable to none. This is anathema to sound constitutional principles. I believe that the Bill which is now before the House contains a judicious blend of functional autonomy and accountability of the CBI. I am sure that the wisdom of this House will rise to support my Government’s proposal as reflected in this Bill.
In the course of this debate, the bureaucracy has been at the receiving end. While I agree that public functionaries must be above board and that delinquents must be dealt with expeditiously and decisively, I must express my deep appreciation for many a public servant who have shown exemplary integrity in discharging their functions in an environment of distrust. I don’t think all public functionaries need to be painted with the same brush just as all politicians should not be presumed to be corrupt. We must not throw the baby out with the bath water. Without a functional, efficient administrative system, no Government can deliver for its people. Let us not supplant the system with one in which the public servants will hesitate to fearlessly record what they think and in that process endanger the very soul of good governance. In judging the conduct of public servants, we must not lose sight of the need to distinguish genuine and honest mistakes in the discharge of their duties from patently illegal acts. Very often our public servants have to take decisions under conditions of uncertainty. The future being inherently uncertain, it is possible that an action which ex ante appears to be rational may ex post turn out to be faulty. Our systems of reward and punishment must not lose sight of this fact.
All systems of governance must be based on trust. It is the people’s trust that we in Government reflect and protect. Rampant distrust of all authority imperils the foundations of democracy. Our polity with its enormous size and diversity can only be held together when we put our faith and trust in institutions that we have carefully built over the years. The power of the electorate is the ultimate authority which brings accountability to our democratic institutions. In endangering democracy, we will only be unleashing the forces of chaos where reason will give way to emotion.
We are creating something for the future in response to the inadequacies of the present. We have to be mindful of the pitfalls when we look into the future. Let us not create something that will destroy all that we cherish – all in the name of combating corruption. Let us remember that the road to hell is paved with good intentions.
We, as the representatives of the people, must act now to start yet another journey to rebuild the trust that is essential for a strong and vibrant India.”
Tuesday, December 27, 2011
China Rail Link to Nathu la Soon
China rail: RS panel raises concern
Sunday, 25 December 2011 23:54 Pioneer News Service | New Delhi
A Rajya Sabha panel has expressed concern over China bringing railway line to almost Indian borders and has suggested the Defence Ministry to immediately bring to the notice of the Prime Minister the urgency to build a corpus for laying railway network in bordering areas.
It also urged upon the Government to draw up a time-bound plan to execute and implement the strategically important projects in coordination with stakeholders in a “time-bound manner”.
The panel headed by former Uttarakhand Chief Minister Bhagat Singh Koshiyari felt India had to cut a sorry figure in the 1962 war with China for want of adequate infrastructure in border areas.
China has completed its 3,900 km Beijing Lhasa rail link and is pushing ahead with several other rail road projects adjoining the Indian border. China proposes to build 5,000 km of rail link with emphasis on establishing connectivity to Tibetan Autonomous Region.
China is also considering an extension of the Golmu-Lhasa line up to Xigaze, south of Lhasa and from there to Yatung, a trading centre barely a few kilometres from Nathula, a mountain pass that connects Tibet with Sikkim.
Also there is a proposal to extend the line to Nyingchi, an important trading town north of Arunachal Pradesh at the trijunction with Myanmar. These rail lines will bring Chinese trains up to Sikkim and Arunachal Pradesh — two Indian States that figure prominently on the radar of Sino-Indian dispute. It has also proposed to build rail network in Nepal.
“It is a matter of great concern that China has almost encircled Indian border areas through railway and road network. The issues is of great significance in view of the fact that China has grown exponentially in both the economic and the defence areas and (Indian) Government needs to be extremely cautious on both these counts,” a report by the panel has said.
India’s rail network is World’s most extensive but it does not penetrate the border states of J&K, Himachal Pradesh, Uttarakhand, Sikkim and Arunachal Pradesh.
In their petition to the committee in 2010, two MPs and five MLAs from Uttarakhand said, “The British left behind a track lane of 55,596 km, in 62 years since Independence the total railway track stands at 63,940 km. This work around addition of 130km in a year which is very pathetic. The situation in Himalayan States is even worse as not even a single kilometre has been added there since Independence.”
The Bhanupalli-Bilaspur-Beri; Ghanauli-Baddi; Nangal-Talwara and Bilaspur-Manali-Leh rail line in Himachal Pradesh, Rishikesh- Karnaprayag; Tanakpur-Ghat-Bageshwar; Dehradun-Kalsi; Ram Nagar-Chaukhutiya; Haridwar-Kotdwar-Ramnagar-Kathgodam; and Rishikesh-Dehradun in Uttarakhand, Hirumati-Itanagar; and Rupai-Parasuramkund in Arunachal Pradesh, Jammu-Rajauri-Poonch in J&K, Mirik-Gangtok and extension of Sevoke-Rangpu line up to Gangtok in Sikkim are in different phases. Paucity of fund, problem with land acquisition and bureaucratic hurdles have led to delays in their execution.
The Committee deliberated at length on the issue of funding by the State Government and the resultant cost escalation due to delays in allocation of resources by the State Government. The Committee felt that the only way out is to declare these projects as ‘National Projects’ or ‘strategically important projects’ with dedicated financial linkage.
The committee has also suggested the Government that instead of concentrating on all these railway lines, only those which are strategically important should be taken on priority basis.
It also suggested that problem of resource allocation could be addressed in the manner that instead of asking for one time allocation, if it was done in a phased manner then budgetary allocation could be done.
Sunday, 25 December 2011 23:54 Pioneer News Service | New Delhi
A Rajya Sabha panel has expressed concern over China bringing railway line to almost Indian borders and has suggested the Defence Ministry to immediately bring to the notice of the Prime Minister the urgency to build a corpus for laying railway network in bordering areas.
It also urged upon the Government to draw up a time-bound plan to execute and implement the strategically important projects in coordination with stakeholders in a “time-bound manner”.
The panel headed by former Uttarakhand Chief Minister Bhagat Singh Koshiyari felt India had to cut a sorry figure in the 1962 war with China for want of adequate infrastructure in border areas.
China has completed its 3,900 km Beijing Lhasa rail link and is pushing ahead with several other rail road projects adjoining the Indian border. China proposes to build 5,000 km of rail link with emphasis on establishing connectivity to Tibetan Autonomous Region.
China is also considering an extension of the Golmu-Lhasa line up to Xigaze, south of Lhasa and from there to Yatung, a trading centre barely a few kilometres from Nathula, a mountain pass that connects Tibet with Sikkim.
Also there is a proposal to extend the line to Nyingchi, an important trading town north of Arunachal Pradesh at the trijunction with Myanmar. These rail lines will bring Chinese trains up to Sikkim and Arunachal Pradesh — two Indian States that figure prominently on the radar of Sino-Indian dispute. It has also proposed to build rail network in Nepal.
“It is a matter of great concern that China has almost encircled Indian border areas through railway and road network. The issues is of great significance in view of the fact that China has grown exponentially in both the economic and the defence areas and (Indian) Government needs to be extremely cautious on both these counts,” a report by the panel has said.
India’s rail network is World’s most extensive but it does not penetrate the border states of J&K, Himachal Pradesh, Uttarakhand, Sikkim and Arunachal Pradesh.
In their petition to the committee in 2010, two MPs and five MLAs from Uttarakhand said, “The British left behind a track lane of 55,596 km, in 62 years since Independence the total railway track stands at 63,940 km. This work around addition of 130km in a year which is very pathetic. The situation in Himalayan States is even worse as not even a single kilometre has been added there since Independence.”
The Bhanupalli-Bilaspur-Beri; Ghanauli-Baddi; Nangal-Talwara and Bilaspur-Manali-Leh rail line in Himachal Pradesh, Rishikesh- Karnaprayag; Tanakpur-Ghat-Bageshwar; Dehradun-Kalsi; Ram Nagar-Chaukhutiya; Haridwar-Kotdwar-Ramnagar-Kathgodam; and Rishikesh-Dehradun in Uttarakhand, Hirumati-Itanagar; and Rupai-Parasuramkund in Arunachal Pradesh, Jammu-Rajauri-Poonch in J&K, Mirik-Gangtok and extension of Sevoke-Rangpu line up to Gangtok in Sikkim are in different phases. Paucity of fund, problem with land acquisition and bureaucratic hurdles have led to delays in their execution.
The Committee deliberated at length on the issue of funding by the State Government and the resultant cost escalation due to delays in allocation of resources by the State Government. The Committee felt that the only way out is to declare these projects as ‘National Projects’ or ‘strategically important projects’ with dedicated financial linkage.
The committee has also suggested the Government that instead of concentrating on all these railway lines, only those which are strategically important should be taken on priority basis.
It also suggested that problem of resource allocation could be addressed in the manner that instead of asking for one time allocation, if it was done in a phased manner then budgetary allocation could be done.
Sunday, December 25, 2011
NREGA is money down the drain
SOURCE:HINDUBUSINESSLINE
THE HINDU Schemes like NREGA enrich the political class
Those who claim that welfare schemes ought to prevent the migration of workers from rural areas are promoting dependency and idleness and destroying the work ethic.
The Indian Government is to spend Rs 88,000 crore on rural development this year. About Rs 40,000 crore is under the National Rural Employment Guarantee Scheme Act (NREGA). Government spokesmen and media fed by the government are asserting that the NREGA and some other schemes are meant to stop migration of workers from rural areas. This aim is irrational and is against historical experience.
If there were no migrations from overcrowded Europe to the newly discovered Australia and America, Europe would have been pauperised and the world would have been less prosperous without the wealth of these two continents.
The less prosperous Spanish-speaking South American workers are migrating to the US, thus satisfying the need for manual workers in that country. A few million skilled persons, such as electricians, masons, carpenters, fitters, plumbers, welders, drivers and construction workers from Kerala, Andhra Pradesh, Tamil Nadu are working in the Gulf countries.
If these people did not migrate to where work is, they could not have been fed and housed and uplifted here in India. It is their remittances that are adding to the prosperity of families at home.
State to state
Lakhs of Indian engineers and other professionals too are migrating to the US and some other developed countries in search of jobs. Their remittances are helping India. The skills of the returning people add to the talent pool in India.
Punjab's agriculture will wither if workers from Bihar do not migrate to that state. Within Andhra Pradesh, farm workers migrate from one district to another for so many agriculture operations, such as transplanting and harvesting.
Tens of thousands of men and women involved in physical labour are migrating from Srikakulam and Prakasam districts into the construction works in Hyderabad.
So many educated people and entrepreneurs migrate from one State to another, from one country to another, for full and better utilisation of their talents.
Encouraging the educated to migrate and confining the unskilled labourers to the village may ensure garnering votes of the poor.
Good money, wasteful use
Migration is an historical phenomenon. It can be seasonal, for short periods or permanent. Any scheme that is designed to contain India's rural population in the village of their birth itself is a retrograde step.
Villages cannot sustain so many unskilled labourers and not-so-literate labour. By creating useless “work” we are promoting dependency among the unfortunate rural, illiterate and unskilled population. This is, indeed, a social crime.
An example of the village Angaluru in Krishna district will illustrate how good money is being thrown away for bad results. Out of 1,000 families, 800 had registered themselves as BPL, seeking work under NREGA. So far, it was 100 days at Rs. 100 per day. Even at this, 80,000 mandays of useful work in a year is impossible in a village and that too, year after year.
The result is, wages for agricultural labour have gone up by 2.5 times and agriculture is becoming increasingly unviable. Farmers feel that it is better to sell the land and put that money a bank FD.
For instance, one acre of agriculture land sells at a minimum Rs 10 lakh. If this is sold and the money is put in an FD, the annual return is Rs 90,000. By cultivating that land, no farmer gets more than Rs 10,000-15,000 in a year. What incentive is there for cultivation?
Those who are registered for NREGA are mustered just for attendance and since there is no work to be done they go home, thus paid for no or little work.
This easily obtained money is spent largely on liquor: Rs15,000 crore per year worth of liquor is being sold in Andhra Pradesh. One can guess where the NREGA money is going. This is a social crime.
Welfare ethic, no work ethic
We are promoting dependency and idleness and destroying the work ethic; promoting, instead, the welfare ethic. It is estimated that excluding the subsidy on fertilisers, Rs 4 lakh crore of subsidies and throwaways such as pension for the old are spent under welfare. And 85 per cent of that is, every year, turning into black money, shared by government servants, business men and politicians. More the welfare, more the black money, and greater the destruction of the work ethic.
In the pursuit of power, winning elections by spending huge sums has become necessary. These sums can be generated by the vast amounts of money spent on “welfare”.
The discourse about welfare and the trickle that reaches the poor — they get the crumbs — acts as an opium for the political class.
For whom politics is the profession and government power is the goal, welfare and the poor are the enablers. Welfare spending for the poor cannot be criticised on moral grounds. It can be shown to be the instrument for aggrandisement by a few.
We are not building an egalitarian society. Wealth is being created by the educated and enterprising. Much of it is accruing to politicians in power and their businessmen cronies getting at the levers of power.
This is not good for the country. Ignoble people are choosing politics as the least risky profession to get government power and using it for accumulation of wealth, keeping the poor opiated by trickles of welfare.
( The author is Chairman, Pragna Bharati, Andhra Pradesh.)
Saturday, December 24, 2011
Innovate or perish
Innovate or perish
by S N Chary
The tell-tale signs were already there. The recent figures on India’s industrial output showing a significant overall dip was not shocking news.
Whenever such hurtful news is received, the reactions are common: The government’s industrial policy is flawed, the manufacturing policy had been non-existent until very recently, the Reserve Bank’s monetary policies are highly restrictive of borrowing and investment, the domestic market has been slowing down, the foreign markets of the European Union and the US have fallen drastically slowing down our export activity, and rupee has dipped in value internationally. These are all numerous and predictable reasons under such circumstances.
However, the one fact that often slips from being mentioned is that India’s industrial competitiveness has been dropping. And that was not any recent news. It has been very low for several years now. It took some time for the nation to feel its repercussions. It was a major fault-line and some seismic activity was to be expected now or a little later.
Unido’s report prepared not long ago puts India at 41st rank in terms of industrial competitiveness, far behind China. But, even China is 26th in the rankings and several other countries, about whom Indians generally tend not to hear much, like Ireland, Slovenia, Finland, Belgium and Austria make the top 15 cut.
Singapore, known to Indians for its financial services might and less known to us for its industrial prowess, makes it to the top i.e. 1st position in these rankings. Malaysia is ranked 18; Canada is ranked at 22, Malta at 23, Mexico at 30, and Brazil at 39. Mexico and Brazil have taken to manufacturing in a big way and are the recent powerhouses of industrial activity. In fact, after China, these two Latin American nations seem to be the contenders in global manufacturing.
It is true that the present government at the Centre has not been able to function well for quite some time. Parliament is in a series of log-jams. UPA government is caught up in several alleged scandals involving its own members. Anna Hazare’s agitation is close on its heels. There are accusations – coming from Indian industry’s captains -- of a serious governance deficit on the part of the Centre. It is also true that RBI’s tightening of the credit lines has made investments that much more difficult for the industry.
But, all that is akin to putting the entire blame on someone else. Indian industry has not been looking inside its own house. This is, of course, an Indian habit of seldom indulging in introspection. If it is corruption, we do not first check ourselves; if it is a fall in industrial production, we do not check where we have been going wrong.
Vision of our leaders
It cannot be denied that India has an industrial base – that too in multifarious industries – thanks largely to the vision of our leaders in the early days after independence. Post the more-or-less forced liberalisation, we have taken advantage of the global market opportunities for cheap and less value-added services. We have produced diverse products for our domestic consumption from pins to planes, fertilisers to fine chemicals, and lamps to industrial lathes. But, none of the products and services made the top cut. None of these is a global brand.
We make good items of daily use, but these are nowhere near the internationally known brands. In fact, one is pained to see them abroad heaped in a basket of cut-priced items for sale. We make good textiles, but again most of these are to be found in stores that sell cheap wares or in some corner of a store. We do not make either machines, tools, large equipment, consumer durables, chemicals, biochemicals, or agricultural or horticultural items that have any international name or appeal. Our products are good enough for us, but not for the world at large. To be internationally competitive, one has to be not just good but be better, preferably be the best.
If we specialise in say being a BPO of the world, we must be the best BPO country. There cannot be any scope for an Ireland or Philippines or Poland to overtake us. If we are to be the software giants, we must be the best in writing new software and coming up regularly with new software products. If we are to be the best in bio-tech products, we must invent new biotechnogical products. This is true of all our industries. We cannot even afford to be the second rung. We certainly cannot be ‘also ran,’ which is what we have been doing starting from screws to ship-making.
Indian industry, whether it is the bricks-and-mortar old economy kind or the new sun-rise economy type, has been wary of research and innovation. Again, this has so far been a particularly Indian business trait of risk avoidance. Innovation is about going on a search for a new path. It is risk-laden. The results, if reaped, can only be available for the future, currently unknown. It is not about putting money today and getting rewards the very next day. The entire thought process has been short-term.
The industry that accuses the government of not planning enough for the future is itself quite myopic. Value addition, innovation and constant improvement are the mantras. Without these basics, an industry will always be on a flimsy foundation to be shaken up with every international or domestic tremor.
Moreover, why does the industry wait for help to arrive from the governmental quarters? Why should it always expect largesse in the form of incentives, tax breaks, import curbs, cheap land, easy credit, or in some cases even a bail-out? Self-help is the best help. It is the sign of a mature industry.
(The writer is a former professor at IIM, Bangalore)
source:Deccan Herald
by S N Chary
The tell-tale signs were already there. The recent figures on India’s industrial output showing a significant overall dip was not shocking news.
Whenever such hurtful news is received, the reactions are common: The government’s industrial policy is flawed, the manufacturing policy had been non-existent until very recently, the Reserve Bank’s monetary policies are highly restrictive of borrowing and investment, the domestic market has been slowing down, the foreign markets of the European Union and the US have fallen drastically slowing down our export activity, and rupee has dipped in value internationally. These are all numerous and predictable reasons under such circumstances.
However, the one fact that often slips from being mentioned is that India’s industrial competitiveness has been dropping. And that was not any recent news. It has been very low for several years now. It took some time for the nation to feel its repercussions. It was a major fault-line and some seismic activity was to be expected now or a little later.
Unido’s report prepared not long ago puts India at 41st rank in terms of industrial competitiveness, far behind China. But, even China is 26th in the rankings and several other countries, about whom Indians generally tend not to hear much, like Ireland, Slovenia, Finland, Belgium and Austria make the top 15 cut.
Singapore, known to Indians for its financial services might and less known to us for its industrial prowess, makes it to the top i.e. 1st position in these rankings. Malaysia is ranked 18; Canada is ranked at 22, Malta at 23, Mexico at 30, and Brazil at 39. Mexico and Brazil have taken to manufacturing in a big way and are the recent powerhouses of industrial activity. In fact, after China, these two Latin American nations seem to be the contenders in global manufacturing.
It is true that the present government at the Centre has not been able to function well for quite some time. Parliament is in a series of log-jams. UPA government is caught up in several alleged scandals involving its own members. Anna Hazare’s agitation is close on its heels. There are accusations – coming from Indian industry’s captains -- of a serious governance deficit on the part of the Centre. It is also true that RBI’s tightening of the credit lines has made investments that much more difficult for the industry.
But, all that is akin to putting the entire blame on someone else. Indian industry has not been looking inside its own house. This is, of course, an Indian habit of seldom indulging in introspection. If it is corruption, we do not first check ourselves; if it is a fall in industrial production, we do not check where we have been going wrong.
Vision of our leaders
It cannot be denied that India has an industrial base – that too in multifarious industries – thanks largely to the vision of our leaders in the early days after independence. Post the more-or-less forced liberalisation, we have taken advantage of the global market opportunities for cheap and less value-added services. We have produced diverse products for our domestic consumption from pins to planes, fertilisers to fine chemicals, and lamps to industrial lathes. But, none of the products and services made the top cut. None of these is a global brand.
We make good items of daily use, but these are nowhere near the internationally known brands. In fact, one is pained to see them abroad heaped in a basket of cut-priced items for sale. We make good textiles, but again most of these are to be found in stores that sell cheap wares or in some corner of a store. We do not make either machines, tools, large equipment, consumer durables, chemicals, biochemicals, or agricultural or horticultural items that have any international name or appeal. Our products are good enough for us, but not for the world at large. To be internationally competitive, one has to be not just good but be better, preferably be the best.
If we specialise in say being a BPO of the world, we must be the best BPO country. There cannot be any scope for an Ireland or Philippines or Poland to overtake us. If we are to be the software giants, we must be the best in writing new software and coming up regularly with new software products. If we are to be the best in bio-tech products, we must invent new biotechnogical products. This is true of all our industries. We cannot even afford to be the second rung. We certainly cannot be ‘also ran,’ which is what we have been doing starting from screws to ship-making.
Indian industry, whether it is the bricks-and-mortar old economy kind or the new sun-rise economy type, has been wary of research and innovation. Again, this has so far been a particularly Indian business trait of risk avoidance. Innovation is about going on a search for a new path. It is risk-laden. The results, if reaped, can only be available for the future, currently unknown. It is not about putting money today and getting rewards the very next day. The entire thought process has been short-term.
The industry that accuses the government of not planning enough for the future is itself quite myopic. Value addition, innovation and constant improvement are the mantras. Without these basics, an industry will always be on a flimsy foundation to be shaken up with every international or domestic tremor.
Moreover, why does the industry wait for help to arrive from the governmental quarters? Why should it always expect largesse in the form of incentives, tax breaks, import curbs, cheap land, easy credit, or in some cases even a bail-out? Self-help is the best help. It is the sign of a mature industry.
(The writer is a former professor at IIM, Bangalore)
source:Deccan Herald
Morgan Stanley says sentiment on India is souring
Excerpts from India Business Hour on CNBC-TV18 Watch the full show »
ALSO READ
India is definitely not in the good books of brokerages as Ruchir Sharma, MD & global head of emerging markets at Morgan Stanley points out, the sentiment on India is souring.
In his book - Breakout Nations, Sharma says the focus must shift to other emerging economies beyond China and India. Sharma speaks to CNBC-TV18's Udayan Mukherjee who began by asking him if markets are going to capitulate before we see an upside.
“The operating assumption is that the bear market regime is still something on the ascendant here,” says Sharma.
He feels it is very important that the correlation between markets breaks down next year. "Only after it breaks down, can we say, a new bull market is about to begin," he adds.
Below is an edited transcript of his interview. Watch the accompanying video for more.
Q: Last winter when we spoke, you said that it’s just a matter of time when markets head into a bear market zone. We certainly seem to have done that in 2011. How deeply entrenched are we in this bear market would you say now?
A: The operating assumption is that the bear market regime is still on. I know that the popular thing to ask just now is will 2012 be any different from 2011 and the key thing to remember here is that markets don’t care about calendar years. So just because a new year begins doesn’t mean a new trend is about to begin.
This bear market has now really lasted a long while compared to any historical bear markets that we have seen, this has really gone on for a while. We have to now be on the lookout as to what can cause a turnaround. The operating assumption is that the bear market regime is still something which is on the ascendant here, but what can turn this around.
In this regard, there are a few markers that we are looking for. A lot of people will speak about Europe etc, but I find that that is sort of lagging data, that by the time the European situation begins to improve you will know that the markets have moved higher, so to me that is not a very good forward looking indicator.
From an Indian perspective, the most important thing that I am really looking for is that these correlations across markets need to breakdown. We have been seeing this since about 2005-2006, but the last few months has been extraordinary – that if you tell me what is the price of let’s say copper or the Australian dollar, I can tell you pretty much what’s happening across the world, it’s that formulae the sort of macromania that you know the price of one asset and you know where the risk is on and risk is off and everything moves accordingly.
Q: Do you think that runs the risk of breaking down next year?
A: It’s very important for it to breakdown but I am not sure if it does. We know the bear market regime is still intact but the moment that shows some signs of breaking down then we can be confident that a new sort of bull market is about to begin. It is very important for this cross correlations across different asset classes in the world to break down.
Q: When you talk about the bear market regime which is on right now, would you say it holds for all classes of equities, across the world or is it certain geographies that you are talking about?
A: This has really been where the conventional wisdom is starting to go wrong. The bear market regime looks most entrenched in emerging markets. The big surprise in 2011 is how resilient the US market has been and the fact that the Q4 of this year, the US economy in the midst of all this talk of a global slowdown is likely to post a GDP growth rate in the 3.5% to 4% range, which is an extraordinary performance because we thought this is a US problem that the rest of the world is suffering from.
However, the big challenge to conventional wisdom which is likely to persist for a while is that many emerging markets, which we thought were going to be the superstars, are being questioned. So, at this time last year, the big debate was that when will India overtake China as the fastest growing economy in the world, that debate is now being turned on its head which is that both India and China are slowing down and the question is which economy will slow down even more in 2012?
Q: Would you say that emerging market equities are in a deeper bear market than the US and the US which has been in the bear market for the longest time amongst many of these countries or all these countries, could it be the first to come out of it?
A: Yes, I think that could happen and these trend reversals take place just when the conventional wisdom becomes very strong. So, over the past decade, it became popular to say- the decline of the West and the rise of the rest. That trend could well start showing some signs of reversal, the two economies showing the maximum resilience at this stage are US and Germany in the midst of this entire turmoil.
In US and Germany even the expectations became very low and hence, those expectations are now being easily surpassed. At the same time, in the emerging markets expectations got too high, in terms of what they could achieve, and those are now being undershot. Markets trade at the margin, in terms of what the rate of change is and the rate of change seems to be more positive in those markets and more negative in emerging markets.
Q: Are you prepared to take this one step further and take a big call that may be we are at the cusp of a new bull market in US equities and the US dollar?
A: On the US equities, I am a bit doubtful but on the US dollar I feel much more confident. The US dollar over the past decade, on an inflation adjusted trade weighted basis has lost one third of its value. We were looking at some of our long term charts and it shows that the US dollar now is at the cheapest level it has ever been in its history.
So, it is competitive and a lot of the emerging market currencies have become quite expensive and so the big reversal is taking place. For many foreign investors a big part of the returns in emerging markets, over the past few years came from currency appreciation and that trend has exhausted itself. Hence, I think that in the US dollar today is quite likely that the bear market we saw in the dollar, over the past decade where it lost a third of its value is coming to an end and we are likely to see a higher dollar versus many currencies over the next few years.
Excerpts from India Business Hour on CNBC-TV18 Watch the full show »
ALSO READ
India is definitely not in the good books of brokerages as Ruchir Sharma, MD & global head of emerging markets at Morgan Stanley points out, the sentiment on India is souring.
In his book - Breakout Nations, Sharma says the focus must shift to other emerging economies beyond China and India. Sharma speaks to CNBC-TV18's Udayan Mukherjee who began by asking him if markets are going to capitulate before we see an upside.
“The operating assumption is that the bear market regime is still something on the ascendant here,” says Sharma.
He feels it is very important that the correlation between markets breaks down next year. "Only after it breaks down, can we say, a new bull market is about to begin," he adds.
Below is an edited transcript of his interview. Watch the accompanying video for more.
Q: Last winter when we spoke, you said that it’s just a matter of time when markets head into a bear market zone. We certainly seem to have done that in 2011. How deeply entrenched are we in this bear market would you say now?
A: The operating assumption is that the bear market regime is still on. I know that the popular thing to ask just now is will 2012 be any different from 2011 and the key thing to remember here is that markets don’t care about calendar years. So just because a new year begins doesn’t mean a new trend is about to begin.
This bear market has now really lasted a long while compared to any historical bear markets that we have seen, this has really gone on for a while. We have to now be on the lookout as to what can cause a turnaround. The operating assumption is that the bear market regime is still something which is on the ascendant here, but what can turn this around.
In this regard, there are a few markers that we are looking for. A lot of people will speak about Europe etc, but I find that that is sort of lagging data, that by the time the European situation begins to improve you will know that the markets have moved higher, so to me that is not a very good forward looking indicator.
From an Indian perspective, the most important thing that I am really looking for is that these correlations across markets need to breakdown. We have been seeing this since about 2005-2006, but the last few months has been extraordinary – that if you tell me what is the price of let’s say copper or the Australian dollar, I can tell you pretty much what’s happening across the world, it’s that formulae the sort of macromania that you know the price of one asset and you know where the risk is on and risk is off and everything moves accordingly.
Q: Do you think that runs the risk of breaking down next year?
A: It’s very important for it to breakdown but I am not sure if it does. We know the bear market regime is still intact but the moment that shows some signs of breaking down then we can be confident that a new sort of bull market is about to begin. It is very important for this cross correlations across different asset classes in the world to break down.
Q: When you talk about the bear market regime which is on right now, would you say it holds for all classes of equities, across the world or is it certain geographies that you are talking about?
A: This has really been where the conventional wisdom is starting to go wrong. The bear market regime looks most entrenched in emerging markets. The big surprise in 2011 is how resilient the US market has been and the fact that the Q4 of this year, the US economy in the midst of all this talk of a global slowdown is likely to post a GDP growth rate in the 3.5% to 4% range, which is an extraordinary performance because we thought this is a US problem that the rest of the world is suffering from.
However, the big challenge to conventional wisdom which is likely to persist for a while is that many emerging markets, which we thought were going to be the superstars, are being questioned. So, at this time last year, the big debate was that when will India overtake China as the fastest growing economy in the world, that debate is now being turned on its head which is that both India and China are slowing down and the question is which economy will slow down even more in 2012?
Q: Would you say that emerging market equities are in a deeper bear market than the US and the US which has been in the bear market for the longest time amongst many of these countries or all these countries, could it be the first to come out of it?
A: Yes, I think that could happen and these trend reversals take place just when the conventional wisdom becomes very strong. So, over the past decade, it became popular to say- the decline of the West and the rise of the rest. That trend could well start showing some signs of reversal, the two economies showing the maximum resilience at this stage are US and Germany in the midst of this entire turmoil.
In US and Germany even the expectations became very low and hence, those expectations are now being easily surpassed. At the same time, in the emerging markets expectations got too high, in terms of what they could achieve, and those are now being undershot. Markets trade at the margin, in terms of what the rate of change is and the rate of change seems to be more positive in those markets and more negative in emerging markets.
Q: Are you prepared to take this one step further and take a big call that may be we are at the cusp of a new bull market in US equities and the US dollar?
A: On the US equities, I am a bit doubtful but on the US dollar I feel much more confident. The US dollar over the past decade, on an inflation adjusted trade weighted basis has lost one third of its value. We were looking at some of our long term charts and it shows that the US dollar now is at the cheapest level it has ever been in its history.
So, it is competitive and a lot of the emerging market currencies have become quite expensive and so the big reversal is taking place. For many foreign investors a big part of the returns in emerging markets, over the past few years came from currency appreciation and that trend has exhausted itself. Hence, I think that in the US dollar today is quite likely that the bear market we saw in the dollar, over the past decade where it lost a third of its value is coming to an end and we are likely to see a higher dollar versus many currencies over the next few years.
In 20 years, India among top 3 countries for us
In 20 years, India among top 3 countries for us: Marriott International COO
by R. Ravikumar
India will see enormous growth in travel and tourism in the next 10 to 15 years, says Mr Arne Sorenson, President and Chief Operating Officer, Marriott International Inc. “Your Incredible India campaign is incredibly brilliant,” he said in his brief 15-minute interview to Business Line. He was on a whirlwind trip to India recently, for the first time after he took over as the company's COO a couple of years ago. He is also set to become the company's top executive once its long-time CEO Mr J.W. Bill Marriott Jr steps down in the next three months.
Excerpts from the interview:
Are the debt crises in Europe and the US taking their toll on hotel occupancy across the world? How's the hotel industry doing in India?
Markets are growing, perhaps, at slower paces in the US and Asia Pacific. Europe is the hardest market to predict – for now. But as I see it, by and large, business travel takes place, more meetings happen than in the last two-three years. We see comparable year-over-year sales across the globe are up in high single digits over the same time last year.
And specifically, in India, there was a growth of 15 per cent in supply (of hotel rooms) in 2010-11; demand grew by 17 per cent during the same period. We expect corporate demand to grow even faster in the months to come, as the sector resumed travelling.
As we see it, the global economy is still growing, but at a slower rate.
But, it has shrunk inbound tourism to India. Hasn't that affected your business here?
We are doing pretty okay. For us, almost 75 per cent of the business in India comes from domestic travellers. We are the fifth largest hotel chain in India – in terms of number of rooms. At the moment, we have 15 hotels here and 45 more in the pipeline.
More and more global hotel brands are increasingly looking at setting up hotels in India. Many have already made much progress. How is Marriott placed in the market here?
Our philosophy is to have one leading brand in each distinct segment of the marketplace. So in India, all our brands, from Ritz Carlton in the luxury space to Courtyard Marriott at the other end of the spectrum, are competing well with other brands in their respective categories. Our plan really is to grow with India.
In 20 years from now, India will be one of the top three countries we do business in. The country is bound to see enormous growth in travel and tourism.
Are you focusing only on the business travel segment or on the leisure segment too?
Though predominantly business, we will grow our leisure portfolio.
Marriott has been operating in India as an asset-light company. Would you invest in properties here?
No. Not in a big way. We recently formed a joint venture with SAMHI Hotels – in which we have a minority stake – to set up 15 Fairfield Inn hotels here. We have been an asset-light company not just in India, but globally… even in the US. Globally we have 3,500 properties. Of this, only eight are owned by us.
Is the tie-up exclusive?
No. We have tied up with a few other partners for Fairfield in India.
Where will the first Fairfield property be launched?
In the NCR.
Will your Fairfield in India be different from that in other parts of the world?
Yes. It will be different in India. Rooms will be bigger; they will have three F&B outlets and bigger public space. It will be a full-service hotel, and priced very competitively.
source:hindubusinessline
by R. Ravikumar
India will see enormous growth in travel and tourism in the next 10 to 15 years, says Mr Arne Sorenson, President and Chief Operating Officer, Marriott International Inc. “Your Incredible India campaign is incredibly brilliant,” he said in his brief 15-minute interview to Business Line. He was on a whirlwind trip to India recently, for the first time after he took over as the company's COO a couple of years ago. He is also set to become the company's top executive once its long-time CEO Mr J.W. Bill Marriott Jr steps down in the next three months.
Excerpts from the interview:
Are the debt crises in Europe and the US taking their toll on hotel occupancy across the world? How's the hotel industry doing in India?
Markets are growing, perhaps, at slower paces in the US and Asia Pacific. Europe is the hardest market to predict – for now. But as I see it, by and large, business travel takes place, more meetings happen than in the last two-three years. We see comparable year-over-year sales across the globe are up in high single digits over the same time last year.
And specifically, in India, there was a growth of 15 per cent in supply (of hotel rooms) in 2010-11; demand grew by 17 per cent during the same period. We expect corporate demand to grow even faster in the months to come, as the sector resumed travelling.
As we see it, the global economy is still growing, but at a slower rate.
But, it has shrunk inbound tourism to India. Hasn't that affected your business here?
We are doing pretty okay. For us, almost 75 per cent of the business in India comes from domestic travellers. We are the fifth largest hotel chain in India – in terms of number of rooms. At the moment, we have 15 hotels here and 45 more in the pipeline.
More and more global hotel brands are increasingly looking at setting up hotels in India. Many have already made much progress. How is Marriott placed in the market here?
Our philosophy is to have one leading brand in each distinct segment of the marketplace. So in India, all our brands, from Ritz Carlton in the luxury space to Courtyard Marriott at the other end of the spectrum, are competing well with other brands in their respective categories. Our plan really is to grow with India.
In 20 years from now, India will be one of the top three countries we do business in. The country is bound to see enormous growth in travel and tourism.
Are you focusing only on the business travel segment or on the leisure segment too?
Though predominantly business, we will grow our leisure portfolio.
Marriott has been operating in India as an asset-light company. Would you invest in properties here?
No. Not in a big way. We recently formed a joint venture with SAMHI Hotels – in which we have a minority stake – to set up 15 Fairfield Inn hotels here. We have been an asset-light company not just in India, but globally… even in the US. Globally we have 3,500 properties. Of this, only eight are owned by us.
Is the tie-up exclusive?
No. We have tied up with a few other partners for Fairfield in India.
Where will the first Fairfield property be launched?
In the NCR.
Will your Fairfield in India be different from that in other parts of the world?
Yes. It will be different in India. Rooms will be bigger; they will have three F&B outlets and bigger public space. It will be a full-service hotel, and priced very competitively.
source:hindubusinessline
Friday, December 23, 2011
Smaller brain size may signal Alzheimer's
ANI
People with smaller regions of the brain’s cortex may be more likely to develop symptoms consistent with very early Alzheimer’s disease, a new study has suggested.
"The ability to identify people who are not showing memory problems and other symptoms but may be at a higher risk for cognitive decline is a very important step toward developing new ways for doctors to detect Alzheimer’s disease,” said Susan Resnick, PhD, with the National Institute on Aging in Baltimore.
For the study, researchers used brain scans to measure the thickness of regions of the brain’s cortex in 159 people free of dementia with an average age of 76. The brain regions were chosen based on prior studies showing that they shrink in patients with Alzheimer’s dementia.
Of the 159 people, 19 were classified as at high risk for having early Alzheimer’s disease due to smaller size of particular regions known to be vulnerable to Alzheimer’s in the brain’s cortex, 116 were classified as average risk and 24 as low risk.
At the beginning of the study and over the next three years, participants were also given tests that measured memory, problem solving and ability to plan and pay attention.
The study found that 21 percent of those at high risk experienced cognitive decline during three years of follow-up after the MRI scan, compared to seven percent of those at average risk and none of those at low risk.
"Further research is needed on how using MRI scans to measure the size of different brain regions in combination with other tests may help identify people at the greatest risk of developing early Alzheimer’s as early as possible,” said study author Bradford Dickerson, MD, of Massachusetts General Hospital in Boston and a member of the American Academy of Neurology.
The study also found 60 percent of the group considered most at risk for early Alzheimer’s disease had abnormal levels of proteins associated with the disease in cerebrospinal fluid, which is another marker for the disease, compared to 36 percent of those at average risk and 19 percent of those at low risk.
The study has been published in the December 21, 2011, online issue of Neurology, the medical journal of the American Academy of Neurology.
ANI
People with smaller regions of the brain’s cortex may be more likely to develop symptoms consistent with very early Alzheimer’s disease, a new study has suggested.
"The ability to identify people who are not showing memory problems and other symptoms but may be at a higher risk for cognitive decline is a very important step toward developing new ways for doctors to detect Alzheimer’s disease,” said Susan Resnick, PhD, with the National Institute on Aging in Baltimore.
For the study, researchers used brain scans to measure the thickness of regions of the brain’s cortex in 159 people free of dementia with an average age of 76. The brain regions were chosen based on prior studies showing that they shrink in patients with Alzheimer’s dementia.
Of the 159 people, 19 were classified as at high risk for having early Alzheimer’s disease due to smaller size of particular regions known to be vulnerable to Alzheimer’s in the brain’s cortex, 116 were classified as average risk and 24 as low risk.
At the beginning of the study and over the next three years, participants were also given tests that measured memory, problem solving and ability to plan and pay attention.
The study found that 21 percent of those at high risk experienced cognitive decline during three years of follow-up after the MRI scan, compared to seven percent of those at average risk and none of those at low risk.
"Further research is needed on how using MRI scans to measure the size of different brain regions in combination with other tests may help identify people at the greatest risk of developing early Alzheimer’s as early as possible,” said study author Bradford Dickerson, MD, of Massachusetts General Hospital in Boston and a member of the American Academy of Neurology.
The study also found 60 percent of the group considered most at risk for early Alzheimer’s disease had abnormal levels of proteins associated with the disease in cerebrospinal fluid, which is another marker for the disease, compared to 36 percent of those at average risk and 19 percent of those at low risk.
The study has been published in the December 21, 2011, online issue of Neurology, the medical journal of the American Academy of Neurology.
CONTENTMENT
CONTENTMENT
If one was asked to define contentment, how would one do the same? A very simple and easy to understand, definition of contentment, is:
“At the present moment:
* wherever we are is wherever we are meant to be,
* whatever we are doing is whatever we are meant to be doing and
* whatever others are doing is what they are meant to be doing.
* whatever we get in life is what we are meant to have."
To experience constant contentment, we need to become aware of all the things that make us discontent (dissatisfied) and free ourselves from those things (ideas, opinions, objects, people, relationships,). We don’t have to reject them or distance ourselves from them, but a detachment from them or having dispassion for them at the level of the mind will bring back our inner freedom. Detachment or dispassion can come from discriminative analysis.
How to go about this analysis? We are affected by only those things and beings to which we have given some value. Those things and beings to which we have given zero value do not affect us. We give value to only those things and beings which appear to give us some kind of joy, pleasure, happiness or benefit and we have desire for these. Arising of the desire itself is the cause of misery. If we further analyse we will come to this conclusion that there is no inherent joy, pleasure or happiness in any of the things and beings of this world. If it were so, then a particular object should be able to give the same quantum of happiness to all, at all times and in all places and situations. But it is not so. The quantum of happiness varies from person to person and at different times, places and in different situations. Moreover an object which is a source of joy for one may be a source of sorrow for another and yet a source of neither joy or sorrow for another and boredom for yet another. Analysing thus, we come to the conclusion that there is no inherent happiness or misery in any things or beings of this world. Happiness and misery is the projection of the individual mind on the things and beings of this world according to his or her likes and dislikes due to vaasanaa-s or inherited tendencies. Thus we get attached to those things which seem to give us happiness. Attachment is the biggest cause of all our miseries.
It may appear that the objects do seem to give some kind of pleasure or joy while experiencing it. If it is not inherent in them where has it come from? When a desire arises we become miserable and when it is fulfilled we are happy. When a desire is fulfilled our mind becomes temporarily free of desire. This desire-less state of mind is the cause of happiness, which is projected on the object that is experienced. The desire-less state of mind gives a glimpse of the infinite blissful nature of our own Self.
Dispassion for the world of things and beings also comes from the understanding that nothing is permanent in this world. Everything is temporary and constantly subject to modification. All the experiences are temporary. The so called pleasure, joy or happiness is also momentary, fleeting and ephemeral. Moreover in every pleasure, joy or happiness there is inherent pain, sorrow and misery.
Detachment is then accompanied by the experience of a deep, inner awareness of satisfaction and stillness, because we stop being dependent on anything or anyone outside ourselves. Any kind of dependency is bondage and any kind of bondage is the cause of misery. Our essential nature is of infinite bliss. Therefore we need to discover it within.
It is highly unlikely that we will arrive at this deep state of fulfillment very soon--though we may touch it and experience it temporarily. It is only by understanding and accepting completely that everything is the way it is meant to be at every moment, both outside our minds and inside our minds that we move closer to being content and then go on to discover our blissful Self.
Said the Lord to his devotee: "I am weary of your never ending petitions. I shall grant you three requests. Make sure you chose them carefully because, having granted them, I shall grant you nothing more."
The elated devotee did not hesitate: "Here is my first request," he said, "I want my wife to die so I can marry a better women." His wish was immediately granted.
But when friends and relatives gathered for the funeral and began to recall the virtues of his wife, the devotee saw he had been hasty. So he asked the Lord to bring her back to life.
That left him with just one petition. He was determined not to make a mistake this time, for there would be no chance to change it. He consulted widely. Some advised him to ask for immortality. But what good was immortality, said others, if he did have good health? And health if he had no money? And money if he had no friends?
Years passed and he had still not made his choice: life or health or wealth or power or love. Finally he said to the Lord, "Tell me what to ask for."
The Lord laughed when he saw the man's predicament and said, " Ask to be content no matter what you get in life."
By Swami Avdhutananda
If one was asked to define contentment, how would one do the same? A very simple and easy to understand, definition of contentment, is:
“At the present moment:
* wherever we are is wherever we are meant to be,
* whatever we are doing is whatever we are meant to be doing and
* whatever others are doing is what they are meant to be doing.
* whatever we get in life is what we are meant to have."
To experience constant contentment, we need to become aware of all the things that make us discontent (dissatisfied) and free ourselves from those things (ideas, opinions, objects, people, relationships,). We don’t have to reject them or distance ourselves from them, but a detachment from them or having dispassion for them at the level of the mind will bring back our inner freedom. Detachment or dispassion can come from discriminative analysis.
How to go about this analysis? We are affected by only those things and beings to which we have given some value. Those things and beings to which we have given zero value do not affect us. We give value to only those things and beings which appear to give us some kind of joy, pleasure, happiness or benefit and we have desire for these. Arising of the desire itself is the cause of misery. If we further analyse we will come to this conclusion that there is no inherent joy, pleasure or happiness in any of the things and beings of this world. If it were so, then a particular object should be able to give the same quantum of happiness to all, at all times and in all places and situations. But it is not so. The quantum of happiness varies from person to person and at different times, places and in different situations. Moreover an object which is a source of joy for one may be a source of sorrow for another and yet a source of neither joy or sorrow for another and boredom for yet another. Analysing thus, we come to the conclusion that there is no inherent happiness or misery in any things or beings of this world. Happiness and misery is the projection of the individual mind on the things and beings of this world according to his or her likes and dislikes due to vaasanaa-s or inherited tendencies. Thus we get attached to those things which seem to give us happiness. Attachment is the biggest cause of all our miseries.
It may appear that the objects do seem to give some kind of pleasure or joy while experiencing it. If it is not inherent in them where has it come from? When a desire arises we become miserable and when it is fulfilled we are happy. When a desire is fulfilled our mind becomes temporarily free of desire. This desire-less state of mind is the cause of happiness, which is projected on the object that is experienced. The desire-less state of mind gives a glimpse of the infinite blissful nature of our own Self.
Dispassion for the world of things and beings also comes from the understanding that nothing is permanent in this world. Everything is temporary and constantly subject to modification. All the experiences are temporary. The so called pleasure, joy or happiness is also momentary, fleeting and ephemeral. Moreover in every pleasure, joy or happiness there is inherent pain, sorrow and misery.
Detachment is then accompanied by the experience of a deep, inner awareness of satisfaction and stillness, because we stop being dependent on anything or anyone outside ourselves. Any kind of dependency is bondage and any kind of bondage is the cause of misery. Our essential nature is of infinite bliss. Therefore we need to discover it within.
It is highly unlikely that we will arrive at this deep state of fulfillment very soon--though we may touch it and experience it temporarily. It is only by understanding and accepting completely that everything is the way it is meant to be at every moment, both outside our minds and inside our minds that we move closer to being content and then go on to discover our blissful Self.
Said the Lord to his devotee: "I am weary of your never ending petitions. I shall grant you three requests. Make sure you chose them carefully because, having granted them, I shall grant you nothing more."
The elated devotee did not hesitate: "Here is my first request," he said, "I want my wife to die so I can marry a better women." His wish was immediately granted.
But when friends and relatives gathered for the funeral and began to recall the virtues of his wife, the devotee saw he had been hasty. So he asked the Lord to bring her back to life.
That left him with just one petition. He was determined not to make a mistake this time, for there would be no chance to change it. He consulted widely. Some advised him to ask for immortality. But what good was immortality, said others, if he did have good health? And health if he had no money? And money if he had no friends?
Years passed and he had still not made his choice: life or health or wealth or power or love. Finally he said to the Lord, "Tell me what to ask for."
The Lord laughed when he saw the man's predicament and said, " Ask to be content no matter what you get in life."
By Swami Avdhutananda
Thursday, December 22, 2011
Tuesday, December 20, 2011
Needed: ‘Action tanks', not ‘think tanks'
Business Line N.R. Narayana Murthy, Chairman Emeritus, Infosys — K. Murali Kumar
There are some inspirational leaders you simply don't tire of. Infosys Chief Mentor N.R. Narayana Murthy's A S Deshpande Memorial Lecture at the Institute of Banking Personnel Selection in Mumbai last week was a tour de force on leadership attributes. Technology, said the man who is often referred to as the face of India's software revolution, is only an instrument.
“The primary ingredient for progress is innovation through the power of the human mind,” he added.
Courage is the most important leadership attribute, he said, requiring difficult decisions that often run opposed to popular opinion.
He also urged his hosts to work on a set of tests (using computer simulation) to evaluate the ‘courage' of candidates for leadership positions.
More NRN-speak:
Speed: You will need to act as if there is no tomorrow. You need a sense of urgency. Jawaharlal Nehru established half-a-dozen IITs, IIMs, the atomic energy establishment, the Planning Commission, dams, and other public institutions in a span of a decade from 1951. He was a man who acted with a sense of urgency. “Some decisions will go wrong. But that is okay. The media may criticise you; but if you get eight out of 10 decisions correct, that is a fine record.”
Innovation, among equals: Ask yourself three questions:
Can I do the job faster than yesterday (at the same level of excellence)?
Can I do it cheaper?
Can I do it at better levels of excellence?
That is all innovation is.
Executives must spend time with people across the organisation to get the best ideas about innovation. At the same time, don't talk down — talk as equals. It is not difficult to implement. Leadership is about creating a vision and enthusiasm so that others also feel they can ‘catch the rainbow'.
Execution excellence: We Indians think articulation is accomplishment. I had a recent conversation with an American CEO in Boston. The talk veered to ‘think tanks' in New Delhi. The CEO interrupted me to say that what India needs now is not more think tanks but ‘action tanks'. We need to quickly move from idea to action.
Openness to new ideas, fostering pride:I had an associate who was in charge of keeping the board room clean. I would make it a point to introduce this person to all our VIP guests to the Infosys campus, including the likes of Vladimir Putin. This gave the employee a sense of pride, which ensured that the room was always kept sparkling. Leaders need to create an environment where everyone can give ideas.
Living by values: Leaders must try and encourage the practice of values such as integrity, hard work, courage, and commitment to excellence among their colleagues. And leaders need to live by these attributes.
source:The hindubusinessline
Monday, December 19, 2011
Trounced Bollywood star Katrina, cricketer Sachin Tendulkar
Anna ruled the cyberworld in 2011: Search data
Bangalore, Dec 18, DHNS
Gandhian and civil rights activist Anna Hazare has been the most searched for man on the internet in 2011, with data suggesting that nearly 125 million people searched for him and his struggle to get a strong Lokpal Bill.
Google and Yahoo, two of the most used search platforms in the country, have named Anna amongst the most popular ‘searched names’ of the year, as they released the search data for India in 2011.
While Yahoo’s data suggests that Anna trounced Bollywood star Katrina Kaif and cricketing legend Sachin Tendulkar, Google’s annual “Zeitgeist” said that the Gandhian is amongst the fastest rising people of 2011 on the internet.
The Google’s list of fastest rising terms also included the IBPS (Institute of Banking Personnel Service), which suggested a widespread interest among Indians to apply for banking jobs. Indian Railways also emerged as fastest rising search term given the increasing number of online ticket reservations.
In a sign that internet is finding more users on the mobile and is making inroads beyond the boundaries of the metro cities, Google also said the number of searches in the country touched the 125 million mark, 70 per cent of whom used the internet from outside the metros.
“This data suggests internet usage in the country becoming truly mainstream in 2011,” said Lalitesh Katrigadda, Google India’s product head. “Over 70 per cent of the search happened in non-metros. A lot of the searchs happened through mobiles and we hit the 125 million mark. For the first time, the online world heard the views of the aam adhmi.”
According to Google’s Zeitgeist, Katrina continues to reign supreme amongst Indian searchers, while Salman Khan and Anushka Sharma took the next two positions as the most searched stars. Bodyguard and Ra one were the most searched Bollywood flicks of the year.
Information on Lokpal Bill, Aadhar cards, Japan earthquake and assassination of Al Kaida leader Osama Bin Laden, also found a place amongst top searches of the year. Yahoo’s annual search data names Anna the “newsmaker” of the year. “His 288 hour fast at Ramlila Maidan made him the face of India’s battle against corruption,” according to the internet giant, which also positioned little master Sachin Tendulkar and Katrina Kaif as second and third most popular persons based on its data.
“Some bizarre (news) stories like PETA opening a porn site, a woman giving birth to her own grandchild and kissing can cause cavities,” were also amongst the top list of Yahoo. It also highlighted interest for “cheeky numbers” like Kolaveri and D K Bose. Yahoo said it had analysed the data gathered from search terms for the selection of the most popular news stories, while Google said it had sliced and diced aggregated search queries which do not reveal individual profiles.
Anna ruled the cyberworld in 2011: Search data
Bangalore, Dec 18, DHNS
Gandhian and civil rights activist Anna Hazare has been the most searched for man on the internet in 2011, with data suggesting that nearly 125 million people searched for him and his struggle to get a strong Lokpal Bill.
Google and Yahoo, two of the most used search platforms in the country, have named Anna amongst the most popular ‘searched names’ of the year, as they released the search data for India in 2011.
While Yahoo’s data suggests that Anna trounced Bollywood star Katrina Kaif and cricketing legend Sachin Tendulkar, Google’s annual “Zeitgeist” said that the Gandhian is amongst the fastest rising people of 2011 on the internet.
The Google’s list of fastest rising terms also included the IBPS (Institute of Banking Personnel Service), which suggested a widespread interest among Indians to apply for banking jobs. Indian Railways also emerged as fastest rising search term given the increasing number of online ticket reservations.
In a sign that internet is finding more users on the mobile and is making inroads beyond the boundaries of the metro cities, Google also said the number of searches in the country touched the 125 million mark, 70 per cent of whom used the internet from outside the metros.
“This data suggests internet usage in the country becoming truly mainstream in 2011,” said Lalitesh Katrigadda, Google India’s product head. “Over 70 per cent of the search happened in non-metros. A lot of the searchs happened through mobiles and we hit the 125 million mark. For the first time, the online world heard the views of the aam adhmi.”
According to Google’s Zeitgeist, Katrina continues to reign supreme amongst Indian searchers, while Salman Khan and Anushka Sharma took the next two positions as the most searched stars. Bodyguard and Ra one were the most searched Bollywood flicks of the year.
Information on Lokpal Bill, Aadhar cards, Japan earthquake and assassination of Al Kaida leader Osama Bin Laden, also found a place amongst top searches of the year. Yahoo’s annual search data names Anna the “newsmaker” of the year. “His 288 hour fast at Ramlila Maidan made him the face of India’s battle against corruption,” according to the internet giant, which also positioned little master Sachin Tendulkar and Katrina Kaif as second and third most popular persons based on its data.
“Some bizarre (news) stories like PETA opening a porn site, a woman giving birth to her own grandchild and kissing can cause cavities,” were also amongst the top list of Yahoo. It also highlighted interest for “cheeky numbers” like Kolaveri and D K Bose. Yahoo said it had analysed the data gathered from search terms for the selection of the most popular news stories, while Google said it had sliced and diced aggregated search queries which do not reveal individual profiles.
Sunday, December 18, 2011
The coming financial tsunami
17th Dec 2011
Shareholder capitalism has gone overboard, and we are going to pay a heavy price for it. In the '80s the economies of both Japan and Germany had grown and were threatening the hegemony of the US. In early 80's 3 of the top 10 banks were Japanese, Sony bought Universal Studios, NTT DoCoMo was the most expensive stock in the world and Japan bought Rockefeller Centre. The German auto and engineerin industries were challenging USA
Their success impinged largely on the stakeholder capitalism model both followed, in which all stakeholders were given importance. To counter it, the US strongly promoted shareholder capitalism, which gives more importance to the interests of providers of capital, and less to other stakeholders such as employees or suppliers or customers. It worked, and, alongwith its other pillars, such as its system of higher education, its venture capital industry and its judicial system, enabled the US to grow faster than other economies. Its GDP is over $ 15 trillion followed by Japan's at $ 4 tr.
The reason for this is that of the four factors of production, men, material, machines and money, it is only the last that is capable of digitization. It can thus move much faster than others, thereby having a greater influence compared to others. The weight of a factor of production is its quantity multiplied by its velocity of circulation.
Modern finance has further enhanced this velocity by creating derivatives of financial products and then, through securitisation, enabling the sale of these derivative products to the public after slicing and dicing them. The sliced products are rated by rating agencies, to make them acceptable to the investing public. This is how the subprime mortgage mess was created. US (later others) banks lent to ninja (those with no income, no jobs or assets) customers to buy homes, with zero collateral, as they had no assets. These ninja loans were then sliced and diced, and some parts of them even got AAA ratings by agencies! Amazing! An article in the Economist talked about a review of ratings given by Moody's, a rating agency, to one type of security called Alt A. At the end of a 5 day review Moody's downgraded over 90% of its own ratings from AAA to junk, in one step! That's insane!
Last week we got news at 3iInfotech's rating was also similarly downgraded by CRISIL to junk status, barely four months after it had re-affirmed AAA rating in August. How can this happen? Rating upgrades or downgrades are in steps, not in jumps.
Almost all European banks are in trouble today because of inordinate and foolish lending to sovereigns. Again, sovereign bonds were rated AAA on the basis that countries can't default. This has been proved wrong. Thus countries like Greece were lent much more money than prudent norms would warrant and, if one were to read the excellent book "Boomerang" by Michael Lewis, no one in Greece was keeping an account of spending. It was the same with Iceland, which was lent money at 14% interest, which was untenable, but used by its citizens to acquire all sorts of assets. These bubbles, funded by loose money, ultimately burst. Just as the US housing market did. Just as Iceland did. And Greece will.
Not only have regulators permitted the creation of derivative products (and derivatives of derivatives!), and allowed credit rating agencies to be blasé in rating them, but they have further compounded the problems by legally allowing misuse! This legal misuse was what brought down MF Global. It is well explained in an article by Christopher Elias. The FSA (Financial Services Authority) in the UK permitted securities which clients had hypothecated to brokers, to be re-hypothecated by the brokers! The US also permits this, but upto a limit of a shortfall; the UK allows it upto 100%. Since it is legally permitted, apparently the clients don't have a right on their own asset pledged as security! As per the article "A loophole appears to h ave allowed MF Global, and many others, to use its own clients' funds to finance an enormous $6.2 billion Eurozone repo bet." The bet went wrong and MF Global went into bankruptcy. The cost was borne by clients who had given security as collateral but had no claim on their own assets! How utterly corrupt!
So now European banks have lent against all sorts of funny and fuzzy instruments, including credit default swaps, and, since a lot of these assets have been securitized, nobody can really gauge the size of the problem. It is a financial tsunami waiting to happen.
That is why the euphoria, if any, over the Eurozone deal, which struck by the EU leaders last Friday, was shortlived. The problems of one country, especially a large one like Italy, could easily become an uncontainable contagion. It will spread to the US. Interbank lending will freeze, as it did after the Lehman Brothers' collapse; only this time it will be much worse.
The financial problems are compounded by global warming problems. These are caused by an overuse and exploitation of depleting natural resources. The deal to curb emissions, reached at Durban, is going to be too little, too late. Already countries like Canada have backed out, so that they do not have to pay the cost of polluting the environment, and others will follow.
What are countries doing to curb emissions? China has sensibly hiked import tariffs on criminally gas guzzling vehicles such as SUVs, making them thrice as costly as in the US. Why doesn't India do the same? Using excise duties for local manufacture, and import tariffs for imports, our Government should discourage the use of gas guzzling and fossil fuel resource depleting vehicles. It has not even bothered to mandate fuel efficiency norms. Why has not our Government built up an alternative, efficient, public transport system, in anticipation of the day (not distant) when private transport will become unaffordable. One wonders if banks will provide EMI loans to buy petrol!
The Government's big bang reform, FDI in multi brand retail, which it sought to introduce, was politically stymied and had to be shelved. Its other good idea, of the unique id project, or UIDAI, was stymied by a Parliamentary committee on which its own members were asleep. The GST bill has got nowhere. Also going nowhere is the Governments efforts, or lack thereof, to obtain details of offshore bank accounts held by Indians.
Apparently some of the banks have provided such details. Perhaps an idea the Government may consider is to offer the carrot of another amnesty scheme, offering a clean chit on payment of, say, 40% tax on the amount brought in before March 31, together with a stick of penalising severely those whose names appear on such lists, by prosecution, penalties, fines, disclosures and also arrest. If it succeeds, as it ought to, the fiscal deficit would be solved in one stroke.
Indians also have the world's largest horde of gold. Why doesn't the Government offer to trade physical gold with paper, bearing a low interest rate, with a guarantee to return the gold of the same purity, when asked for? Then use the gold to raise funds for 1. Physical infrastructure such as roads, power plants and ports and 2. Social infrastructure such as schools and colleges, training institutes, and hospitals. And not for its recurring expenses.
In corporate news of interest, Fortis Healthcare is under fire from analysts for poor governance, as it acquired, for $ 665m. the assets of privately owned Fortis International. The feeling is that the price was too high, and investors have sold the stock which has fallen 25% since the purchase, more than the 3.5% fall in the market.
The promoters of some companies had issued themselves warrants to acquire shares in their companies at a future date. Security And Exchange Board Of Indian (SEBI) mandated that 25% of the exercise price be deposited upfront, at the time when the warrants were issued. Accordingly, the promoters of JSW deposited Rs 529 crores. With the stock quoting some 55% below the exercise price, the promoters would tend to lose that amount. Similarly, the promoters of Pantaloon have to decide, by year end, whether to forfeit the initial deposit of Rs 100 crores, or to exercise the warrants and acquire shares, wh ich are quoting some 69% below the exercise price. Warrants have become double edged swords.
The CBI has charged Essar groups Ravi Ruia, Anshuman Ruia and CEO Vikas Saraf, together with IP Khaitan and Kiran Khaitan (sister of Ravi) of Loop Telecom, in the 2G telecom scandal, though Salman Khurshid has publicly stated that Essar was not in control of Loop.
The Reserve Bank Of India (RBI) left interest rates unchanged, which disappointed the market, which dropped to a 2 year low. Investors were hoping that interest rates would start coming down, as the economy is being visibly affected. The IIP (index of industrial production) fell 5.1% in November. The Government has scaled down GDP growth forecast for this year. AM Naik of Larsen & Tarbo (L&T) feels that GDP growth would be below 6% next year, as there is little capital investment taking place (thanks to high interest rates).
The BSE-Sensex dropped last week, ending down 722 points, to close at 15491. The NSE-Nifty fell 215 to close at 4651.
The rupee is also falling, going to a low of Rs 54.20 per US$ before sale of $ by RBI pulled up the Rupee. A wag says the next report on currency management ought to be named after the Hindi film, 'Ab Tak Chappan'.
We are also in for more political skirmishes. The Government is struggling to introduce a Lokpal bill in this winter session of Parliament but it is uncertain if it will fully bring the CBI under the purview of the Lokpal. It has been able to (mis)use CBI for its own purposes and is loath to give away the advantage. Anna Hazare is threatening a renewal of agitation if the Lokpal bill introduced by the Government is not to his satisfaction. Other, opportunistic, political parties will jump in and stir the pot for their own ends.
Several states, including UP (the largest, with the most seats in the Lok Sabha), Punjab, Uttarakhand, Goa and Manipur go to the polls early next year. Till these elections are over there can be no bold economic reforms as the Government does not have the spine. The market would continue to drift downwards and if it goes below 15,000 it could fall sharply further.
At some point in the future, earnings would have fallen enough and would start to rise. So would the Indian rupee, versus the $. Foreign investors would, if they enter before these rises, get a double whammy of increased earnings plus a currency appreciation. Add to that a re-rating, and higher P/E, it would become a triple whammy. So at some point in the future, the markets would bottom out.
That time is not now.
by Shri J Mulraj
17th Dec 2011
Shareholder capitalism has gone overboard, and we are going to pay a heavy price for it. In the '80s the economies of both Japan and Germany had grown and were threatening the hegemony of the US. In early 80's 3 of the top 10 banks were Japanese, Sony bought Universal Studios, NTT DoCoMo was the most expensive stock in the world and Japan bought Rockefeller Centre. The German auto and engineerin industries were challenging USA
Their success impinged largely on the stakeholder capitalism model both followed, in which all stakeholders were given importance. To counter it, the US strongly promoted shareholder capitalism, which gives more importance to the interests of providers of capital, and less to other stakeholders such as employees or suppliers or customers. It worked, and, alongwith its other pillars, such as its system of higher education, its venture capital industry and its judicial system, enabled the US to grow faster than other economies. Its GDP is over $ 15 trillion followed by Japan's at $ 4 tr.
The reason for this is that of the four factors of production, men, material, machines and money, it is only the last that is capable of digitization. It can thus move much faster than others, thereby having a greater influence compared to others. The weight of a factor of production is its quantity multiplied by its velocity of circulation.
Modern finance has further enhanced this velocity by creating derivatives of financial products and then, through securitisation, enabling the sale of these derivative products to the public after slicing and dicing them. The sliced products are rated by rating agencies, to make them acceptable to the investing public. This is how the subprime mortgage mess was created. US (later others) banks lent to ninja (those with no income, no jobs or assets) customers to buy homes, with zero collateral, as they had no assets. These ninja loans were then sliced and diced, and some parts of them even got AAA ratings by agencies! Amazing! An article in the Economist talked about a review of ratings given by Moody's, a rating agency, to one type of security called Alt A. At the end of a 5 day review Moody's downgraded over 90% of its own ratings from AAA to junk, in one step! That's insane!
Last week we got news at 3iInfotech's rating was also similarly downgraded by CRISIL to junk status, barely four months after it had re-affirmed AAA rating in August. How can this happen? Rating upgrades or downgrades are in steps, not in jumps.
Almost all European banks are in trouble today because of inordinate and foolish lending to sovereigns. Again, sovereign bonds were rated AAA on the basis that countries can't default. This has been proved wrong. Thus countries like Greece were lent much more money than prudent norms would warrant and, if one were to read the excellent book "Boomerang" by Michael Lewis, no one in Greece was keeping an account of spending. It was the same with Iceland, which was lent money at 14% interest, which was untenable, but used by its citizens to acquire all sorts of assets. These bubbles, funded by loose money, ultimately burst. Just as the US housing market did. Just as Iceland did. And Greece will.
Not only have regulators permitted the creation of derivative products (and derivatives of derivatives!), and allowed credit rating agencies to be blasé in rating them, but they have further compounded the problems by legally allowing misuse! This legal misuse was what brought down MF Global. It is well explained in an article by Christopher Elias. The FSA (Financial Services Authority) in the UK permitted securities which clients had hypothecated to brokers, to be re-hypothecated by the brokers! The US also permits this, but upto a limit of a shortfall; the UK allows it upto 100%. Since it is legally permitted, apparently the clients don't have a right on their own asset pledged as security! As per the article "A loophole appears to h ave allowed MF Global, and many others, to use its own clients' funds to finance an enormous $6.2 billion Eurozone repo bet." The bet went wrong and MF Global went into bankruptcy. The cost was borne by clients who had given security as collateral but had no claim on their own assets! How utterly corrupt!
So now European banks have lent against all sorts of funny and fuzzy instruments, including credit default swaps, and, since a lot of these assets have been securitized, nobody can really gauge the size of the problem. It is a financial tsunami waiting to happen.
That is why the euphoria, if any, over the Eurozone deal, which struck by the EU leaders last Friday, was shortlived. The problems of one country, especially a large one like Italy, could easily become an uncontainable contagion. It will spread to the US. Interbank lending will freeze, as it did after the Lehman Brothers' collapse; only this time it will be much worse.
The financial problems are compounded by global warming problems. These are caused by an overuse and exploitation of depleting natural resources. The deal to curb emissions, reached at Durban, is going to be too little, too late. Already countries like Canada have backed out, so that they do not have to pay the cost of polluting the environment, and others will follow.
What are countries doing to curb emissions? China has sensibly hiked import tariffs on criminally gas guzzling vehicles such as SUVs, making them thrice as costly as in the US. Why doesn't India do the same? Using excise duties for local manufacture, and import tariffs for imports, our Government should discourage the use of gas guzzling and fossil fuel resource depleting vehicles. It has not even bothered to mandate fuel efficiency norms. Why has not our Government built up an alternative, efficient, public transport system, in anticipation of the day (not distant) when private transport will become unaffordable. One wonders if banks will provide EMI loans to buy petrol!
The Government's big bang reform, FDI in multi brand retail, which it sought to introduce, was politically stymied and had to be shelved. Its other good idea, of the unique id project, or UIDAI, was stymied by a Parliamentary committee on which its own members were asleep. The GST bill has got nowhere. Also going nowhere is the Governments efforts, or lack thereof, to obtain details of offshore bank accounts held by Indians.
Apparently some of the banks have provided such details. Perhaps an idea the Government may consider is to offer the carrot of another amnesty scheme, offering a clean chit on payment of, say, 40% tax on the amount brought in before March 31, together with a stick of penalising severely those whose names appear on such lists, by prosecution, penalties, fines, disclosures and also arrest. If it succeeds, as it ought to, the fiscal deficit would be solved in one stroke.
Indians also have the world's largest horde of gold. Why doesn't the Government offer to trade physical gold with paper, bearing a low interest rate, with a guarantee to return the gold of the same purity, when asked for? Then use the gold to raise funds for 1. Physical infrastructure such as roads, power plants and ports and 2. Social infrastructure such as schools and colleges, training institutes, and hospitals. And not for its recurring expenses.
In corporate news of interest, Fortis Healthcare is under fire from analysts for poor governance, as it acquired, for $ 665m. the assets of privately owned Fortis International. The feeling is that the price was too high, and investors have sold the stock which has fallen 25% since the purchase, more than the 3.5% fall in the market.
The promoters of some companies had issued themselves warrants to acquire shares in their companies at a future date. Security And Exchange Board Of Indian (SEBI) mandated that 25% of the exercise price be deposited upfront, at the time when the warrants were issued. Accordingly, the promoters of JSW deposited Rs 529 crores. With the stock quoting some 55% below the exercise price, the promoters would tend to lose that amount. Similarly, the promoters of Pantaloon have to decide, by year end, whether to forfeit the initial deposit of Rs 100 crores, or to exercise the warrants and acquire shares, wh ich are quoting some 69% below the exercise price. Warrants have become double edged swords.
The CBI has charged Essar groups Ravi Ruia, Anshuman Ruia and CEO Vikas Saraf, together with IP Khaitan and Kiran Khaitan (sister of Ravi) of Loop Telecom, in the 2G telecom scandal, though Salman Khurshid has publicly stated that Essar was not in control of Loop.
The Reserve Bank Of India (RBI) left interest rates unchanged, which disappointed the market, which dropped to a 2 year low. Investors were hoping that interest rates would start coming down, as the economy is being visibly affected. The IIP (index of industrial production) fell 5.1% in November. The Government has scaled down GDP growth forecast for this year. AM Naik of Larsen & Tarbo (L&T) feels that GDP growth would be below 6% next year, as there is little capital investment taking place (thanks to high interest rates).
The BSE-Sensex dropped last week, ending down 722 points, to close at 15491. The NSE-Nifty fell 215 to close at 4651.
The rupee is also falling, going to a low of Rs 54.20 per US$ before sale of $ by RBI pulled up the Rupee. A wag says the next report on currency management ought to be named after the Hindi film, 'Ab Tak Chappan'.
We are also in for more political skirmishes. The Government is struggling to introduce a Lokpal bill in this winter session of Parliament but it is uncertain if it will fully bring the CBI under the purview of the Lokpal. It has been able to (mis)use CBI for its own purposes and is loath to give away the advantage. Anna Hazare is threatening a renewal of agitation if the Lokpal bill introduced by the Government is not to his satisfaction. Other, opportunistic, political parties will jump in and stir the pot for their own ends.
Several states, including UP (the largest, with the most seats in the Lok Sabha), Punjab, Uttarakhand, Goa and Manipur go to the polls early next year. Till these elections are over there can be no bold economic reforms as the Government does not have the spine. The market would continue to drift downwards and if it goes below 15,000 it could fall sharply further.
At some point in the future, earnings would have fallen enough and would start to rise. So would the Indian rupee, versus the $. Foreign investors would, if they enter before these rises, get a double whammy of increased earnings plus a currency appreciation. Add to that a re-rating, and higher P/E, it would become a triple whammy. So at some point in the future, the markets would bottom out.
That time is not now.
by Shri J Mulraj
Saturday, December 17, 2011
Friday, December 16, 2011
Thursday, December 15, 2011
Anna prevails
Anna prevails
There can be no reason to keep out the Prime Minister, CBI or lower bureaucracy from the Lokpal's ambit.
From the looks of it, the Government and the Opposition seem inclined to meet most of the contentious demands relating to the Lokpal Bill that the movement led by Anna Hazare has been raising. The Government, already beleaguered by deepening economy-related troubles, is left with little choice. Having been cornered badly, the only option is to concede defeat gracefully. The Opposition, on its part, has sensed the mood on the ground. From the BJP to the BSP and the CPM, there is now virtual unanimity on bringing the Prime Minister, the lower bureaucracy and the Central Bureau of Investigation (CBI) under the Lokpal's purview. The finer details of their inclusion may not be clear yet, but the fact that the Congress-led Government has eventually had to bend to public opinion goes without saying. Till recently, the Congress appeared to have forgotten the lessons from the past, especially the ease with which V.P. Singh had, in the mid-1980s, united the Opposition on the issue of corruption. The popular perception that it does not want a law providing for an effective anti-graft ombudsman is something the ruling party would definitely want to change. And it may not be too late for a Government that has, after all, taken credit for enacting a complementary Right to Information legislation enabling greater interface between ordinary citizens and public authorities.
That raises the question as to why the Government has been so reluctant in agreeing to the inclusion of the Prime Minister, the lower bureaucracy or the CBI under the Lokpal's jurisdiction. If the Lokpal is intended to tackle corruption, there is no justifiable reason to keep them out. The only issues remaining for resolution, then, are the exceptions. These can be determined fairly easily, at least for the Prime Minister in matters of national security and other strategic sectors. As far as CBI goes, the issue is really about guaranteeing its autonomy and protecting the investigating agency from being used selectively to target those not aligned to the ruling regime's interests. Whether this is best done by bringing its prosecution wing under the Lokpal is, again, a matter of detail.
Where the so-called Class C and D employees are concerned, since they are the face of the government and also the immediate oppressors of the common man, there is no question of exception at all. Although corruption from high-level deals is important, it is the persistent levies made by clerks and other employees, engaged in delivering services that ought to be a matter of right, which truly bothers the aam aadmi and has drawn him to Anna Hazare's campaign. The argument that monitoring millions of employees is impossible misses the point that the idea here is to give people an instrument and authority to which they can take their complaints to. The very fear of getting punished, if caught, can itself be a powerful deterrent. (source: Hindubusinessline)
There can be no reason to keep out the Prime Minister, CBI or lower bureaucracy from the Lokpal's ambit.
From the looks of it, the Government and the Opposition seem inclined to meet most of the contentious demands relating to the Lokpal Bill that the movement led by Anna Hazare has been raising. The Government, already beleaguered by deepening economy-related troubles, is left with little choice. Having been cornered badly, the only option is to concede defeat gracefully. The Opposition, on its part, has sensed the mood on the ground. From the BJP to the BSP and the CPM, there is now virtual unanimity on bringing the Prime Minister, the lower bureaucracy and the Central Bureau of Investigation (CBI) under the Lokpal's purview. The finer details of their inclusion may not be clear yet, but the fact that the Congress-led Government has eventually had to bend to public opinion goes without saying. Till recently, the Congress appeared to have forgotten the lessons from the past, especially the ease with which V.P. Singh had, in the mid-1980s, united the Opposition on the issue of corruption. The popular perception that it does not want a law providing for an effective anti-graft ombudsman is something the ruling party would definitely want to change. And it may not be too late for a Government that has, after all, taken credit for enacting a complementary Right to Information legislation enabling greater interface between ordinary citizens and public authorities.
That raises the question as to why the Government has been so reluctant in agreeing to the inclusion of the Prime Minister, the lower bureaucracy or the CBI under the Lokpal's jurisdiction. If the Lokpal is intended to tackle corruption, there is no justifiable reason to keep them out. The only issues remaining for resolution, then, are the exceptions. These can be determined fairly easily, at least for the Prime Minister in matters of national security and other strategic sectors. As far as CBI goes, the issue is really about guaranteeing its autonomy and protecting the investigating agency from being used selectively to target those not aligned to the ruling regime's interests. Whether this is best done by bringing its prosecution wing under the Lokpal is, again, a matter of detail.
Where the so-called Class C and D employees are concerned, since they are the face of the government and also the immediate oppressors of the common man, there is no question of exception at all. Although corruption from high-level deals is important, it is the persistent levies made by clerks and other employees, engaged in delivering services that ought to be a matter of right, which truly bothers the aam aadmi and has drawn him to Anna Hazare's campaign. The argument that monitoring millions of employees is impossible misses the point that the idea here is to give people an instrument and authority to which they can take their complaints to. The very fear of getting punished, if caught, can itself be a powerful deterrent. (source: Hindubusinessline)
Wednesday, December 14, 2011
Monday, December 12, 2011
Cost of Remittances
source:The Economist
Global remittances are expected to total $483 billion this year and forecast to grow to $593 billion by 2014. In the third quarter of this year, sending $200 abroad, including fees and exchange-rate margins, cost $18.60 on average, an increase of almost 5% on a year earlier. India and China are the largest remittance-receiving countries. They are expected to receive $58 billion and $57 billion respectively this year, according to the World Bank. But depending on the migrant workers’ country of residence, the cost of sending money home varies significantly. Japan is the most expensive from which to send money to India or China, followed by France. Sending money from America and Britain however is much cheaper.
source:The Economist
Global remittances are expected to total $483 billion this year and forecast to grow to $593 billion by 2014. In the third quarter of this year, sending $200 abroad, including fees and exchange-rate margins, cost $18.60 on average, an increase of almost 5% on a year earlier. India and China are the largest remittance-receiving countries. They are expected to receive $58 billion and $57 billion respectively this year, according to the World Bank. But depending on the migrant workers’ country of residence, the cost of sending money home varies significantly. Japan is the most expensive from which to send money to India or China, followed by France. Sending money from America and Britain however is much cheaper.
Don't lose your cool
Source: The Hindu
TAKE A DEEP BREATH Yoga is a popular way of beating stress. Photo: Special Arrangement
A lot of bad things that happen to one's body can be blamed on stress. Tackle it head on, says Sheila Kumar
Stress raises adrenaline levels which boost cytokine levels which, in turn, inflame blood vessels. This makes it easy for cholesterol to clog arteries. You fall ill; gain weight; get depressed. You are perennially stressed. And the circle is complete.
But there are ways to break that cycle. Read, absorb, and imbibe some of these pointers.
Don't sweat over the small stuff; manage it. When you feel overwhelmed, use all that negative energy in a positive way. Sit down and make lists and accomplish tasks, moving from small ones to large ones. Tie up the loose ends, rather than have them pile up to become one monster mountain.
Learn to recognise what triggers your stress attacks and then, effectively counter the provocateurs. Learn to let go of stuff you cannot control, manage or change. Control, manage and change what you can.
Learn to accept stress as something inevitable but something that you can cope easily with. It's about a Zen frame of mind. Acquire a certain amount of inner calm and that becomes a potent weapon with which to defeat stress.
If aromatherapy oils or fragrance candles work for you, use them freely. Cinnamon, clove, basil, eucalyptus and rose help relax both the body and the mind.
Fifteen minutes of meditation in a quiet environment can help control stress levels. If you aren't into meditation, settle down and unspool a montage of healing, peaceful thoughts in your mind.
Like all other tenets of healthy living, combating stress requires healthy eating. Don't binge on fatty/fried/sweet foods. But don't stress over the occasional binge, either. Indulge in some of your favourite foods, the feel-good feeling you get is all for the good. Eat dessert. Eat mint, smell cinnamon.
When you feel your stress level peaking, drop what you are doing and go for a walk. Walking is a major stress buster. Go for a long ramble or a short, brisk stroll, whatever works best for you.
Exercise regularly, even 10 minutes a day will help. The rush you get from a workout helps deal with most everyday stress.
Find out the time your body is most alert and work to the maximum then. If you regularly fall victim to the afternoon slump, if you are an owl who doesn't function too well till late in the morning, don't fight your timeline, just go with it.
Never underestimate the powers of a sympathetic ear. Alongside a sympathetic pet, a sympathetic friend is an invaluable stress buster. Surround yourself with friends… the noise, laughter and talk serve as stress-repellers.
Give yourself some me-time. Dress up. Go for a facial. Look good = feel good.
Take it easy. That really has been, is, and will be the best policy.
If you must lose your cool, time yourself and call a halt after a while. Letting off steam, in small doses, is good. Don't go on and on, though…that is upping your stress level.
Make a list of pros and cons after every adversity you face. Read the list, absorb and learn. Know what to do the next time. After which, destroy that piece of paper. You are done with it.
When your boss points out things you did wrong, agree with calm sincerity. The first few times you will be faking it, the acceptance and the calm demeanour. After a while, you really will take criticism the best way.
Turn off the cell phone. Take time off from the computer. Switch off the TV and read a book instead.
Indulge yourself. Play a slow song. Sleep more/less.
Stop worrying. Stop doing stuff you don't need to do. The world will not stop or fall to pieces if you shrug.
Do one thing at a time… with your full focus on it. The rush from a job well done can never be underestimated.
Anti-corruption activist Anna Hazare went on a daylong fast at Jantar Mantar in New Delhi on Sunday and Opposition leaders joined him in a two-hour debate. In the photograph are (from left) Brinda Karat of the CPI(M), Yerran Naidu of the TDP, the BJP’s Arun Jaitley, Team Anna member Kiran Bedi and A.B. Bardhan of the CPI. Photo: Rajeev Bhatt
Sunday, December 11, 2011
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