Showing posts with label Modi Sarkar. Show all posts
Showing posts with label Modi Sarkar. Show all posts

Friday, June 1, 2018

Modi Economic Policy, A case of Charismatic Chaos. How much Halo, How much substance???



Added on 06th November 2018

In view of incoming elections, the Modi government wants to announce populistic schemes to win votes in the 2019 general elections. The lack of fiscal and financial discipline, and add to this the financially detrimental  policies like Demonetisation and faulty structure and implementation of GST  have badly hit the economy, GDP, and government revenue badly. A bad economy has gone to worse condition.

The public sector banks are in no position to fund the popular election policy of Modi government of 59 minute loan approval to SME sector. The  government now wants to steal money from the RBI, dig into its reserve and appropriate 1/3 of its reserves to recapitalize the banks to fund the BJP government's populist programmes on the eve of the elections in 2019.

To this end the government has applied never before used section 7 of RBI act.

It is one man's selfish desire to somehow come to power again at the cost of credibility and stability of RBI, the Indian Financial system and the Indian Economy.

Finance Ministry seeking to transfer a surplus of Rs 3.6 lakh crore, more than a third of the total Rs 9.59 lakh crore reserves of the central bank, to the government.
RBI has rejected the proposal. We need to see, what the Modi government future move would be.
Shyam....
The Ministry of Statistics reported growth of 6.7 percent, down from 7.1 percent for a year 
earlier. However, economists expect growth to be robust in the current financial year.

However, when we compare the growth for the period Jan-March 2017, we see finally see a growth of 0.7 % compared to last year for the same period. Finally, albeit slowly, we seem to be recovering from the impact of demonetisation.

But, in the coming months of this year, we may again see government policies which may adversely affect the economic growth.

This being the election year the government may formulate policies to appease people or at least a part of community. History tells us that, whenever a government formulates a populistic policy, it goes against the long term interests of the people of the country.

The Modi government has already spent more than 4,300 crores of tax payer’s money for publicity and the promotion of its various schemes. This is based on the information given by the government ministries in response to the RTI by people. This being election year, much more of the poor taxpayer’s money will go in projecting the government’s achievement.



The Amount of Money Modi Government Spent On Publicity Is Enough To Feed One Million Children For 3 Years



POPULISITC POLICIES ARE WITHOUT EXCEPTION ALWAYS ANTI PEOPLE.

As if, the self created economic turmoil is not enough, the ruling BJP has been pushed to desperation, and frustration by the raising oil prices and adverse by poll results. We only have the prime minister to blame for this situation. He inherited a situation, when the oil prices were dropping and reached a position of almost 50% of the present rate.

He did not pass on the benefit of the bonanza to the people of the country, who were the rightful owners, nor did he create an oil fund to deposit the surplus. If he had done that, the surplus deposited in the account could have been deployed to create a buffer and subsidise to certain extent at least the burden on people.

Where did this huge money go??

How and where was the money deployed???

Was it used for Fiscal expenditure, or was it deployed for people welfare schemes???

Why was an oil surplus fund not setup???

Was the economic management so poor, that, the government did not envisage a future situation, where the USD could appreciate and as a fallout could bring a resultant increase in crude oil.

Silence is not an answer to every question. The government and more specifically the prime minister is accountable to the people of the country for every rupee earned and spent.

We of course don’t mind the prime minister and universities refusing to answer the RTI regarding the prime minister’s educational qualifications???

You cannot do the same with the public money.

The previous government had a galaxy of economic experts led prime minister, who himself was an economist or global repute. Plus, he had another great economist and global expert as head of planning commission. Another great economist as the Chief Economic Advisor and later as the RBI governor. To add to this he had a glittering panel of economists as members of Economic Advisory Council to the prime minister. All the people put together formulated an economic policy, that people of India found it good enough to give UPA and Dr. Singh another term.

Modi immediately after coming to power dismantled the Economic Advisory Council. He could have retained the council but the members. And suddenly, after there was a hue and cry among people on account of mismanagement of Demonetisation and GST, he again reinstated the Economic Advisory Council. He is now pressurising the members to spread false and tailored accounts of economic growth and employment. Even renowned economist Dr. Surjit Bhalla is being used as a tool by the prime minster furthering the cause of BJP. It may be very difficult for poor Dr. Bhalla to calm down his questioning conscious. A conscientious person like him may perhaps hardest days of professional career.

I do not claim to be a know all in economics or governance. People may correct me

wherever I might have gone wrong. I am open to dissents and disagreements and

debates. Please feel free to criticise and correct me.



Best Wishes,



Shyam



Friday, April 20, 2018

On Women, PM Modi Served an Uncomfortable Message By IMF Boss 04-20



On Wmen, PM Modi Served an Uncomfortable Message By IMF Boss......




I think, the prime minister will have to learn to live with this kind of admonishing (direct & indirect) for some time to come).  

The world is justifiably outraged at the rapes of the minor girls happening so frequently in India. 

But more than, is the fact  that, the perpetrators  who belong to the BJP are not only getting protection from the BJP and BJP partnered governments, they are being celebrated by the people and supporters of the party with rallies using the national flag and shouting slogans like "Bharat Mata ki Jai" (Glory to the great Mother India).  

Their despicable act is being projected as a patriotic act.

No action is being taken by the party on the accused party members, no one has even been suspended by the party.

To top it all, the most sickening aspect of the whole episode is the whataboutery being indulged by the senior ministers of the Modi cabinet and the party spokesperson. Comparing this with the similar crimes in other state doesn't make this less heinous. And indirectly, you are telling the  world that the Indian prime minister is much more incompetent than you think, because there are such crimes in all the states of the country, which are equally or even more grievous than these.   

Plus, wherever such incidents happen, ultimate failure is that of the central government. Government is expected to be the ultimate controller and preventer of such crimes. It is expected to pass on required directives from time to time.

Like the naxal problem, which is coordinated by the central home ministry with various states, ministry of child and women welfare can coordinate the measure taken to protect the women by various governments and incentivise this action by rewarding and recognising the states implementing the policies for women protection, and in states with least rates of crime against women.

The entire thing needs to be taken out from a political perspective and linked to a human perspective. People should reject and condemn all caste and religion based comments on such crimes. 

A woman is gender, and hence, all narratives should be gender based. Reference to cast and religion tend to dilute the focus on this burning problem of the day. 

Concern at the international Fora a has started and this could add  multiply or even spread contagiously to other  larger international groups, which would be a very sad development for India internationally. 

When the Indian prime minister is ridiculed, the country automatically gets ridiculed. Damage control at the international level is long and arduous process, and definitively an avoidable activity. 

"Less of government and more of governance" was what Modi said when describing his governments priorities and working pattern.

What we have today is, 

Mess of government, and absolute mess of governance

A government whose priority is surviving from election to election and winning elections no matter what, is hardly expected to give great governance, and that is what is happening with the present government.

Political narratives all around are becoming hugely caste and religion based. The religious based narratives started by the Modi government are having boomerang effect in humongous proportions.

The moral abyss into which Indian politics has fallen is simply unfathomable. Those most responsible: Hindu extremists who value ideology over basic human decency, I ask of you, aren't there Asifa's in your family, if god forbid, if one them becomes a victim of a sadistic individual or group's lust, would you still talk of the ideology???? 

 Where is humanity?

where is humanism??

and where are the human values ???.

Don't these have any value in your scheme of things??? 

Humanism, Humanity and the Human Values are the tents on which the great Hindu religion is built.

Morally, you don't belong to the religion, you claim to protect.


In total emotional integration with every girl and women on this planet......


Shyam

Wednesday, July 26, 2017

Let us a start a "Naya Daur" all over again..07-26

google-site-verification: googled8cb12c78271c415.html H_abxalAdC9Cg0xe3NtXHQ6qbrc 






Union road transport and highways minister Nitin Gadkari said on Tuesday that driverless cars will not be allowed in India.

I have some suggestions on this.

I feel that, not only driverless cars, we should not allow cars itself in India.
...
Instead we should go back to bullock carts.

The Gorakshaks can then go and collect all the bulls from the beefys and donate it to the villagers. Making gorakshaks busy would also stop the beef lynching.

This will not only help the villagers own their transport, but they can come to metros and operate "BullockCabs' for transporting IT professionals and others. for mass transportation, we can have 'Bullock Buses' by employing more bullocks per vehicle (Just like multi horse carriages).

Anyhow IT companies are looking for cost optimization. This will be a great help to them. They can grow grass in the empty places as a fodder for the bullocks, and also contribute to the green environment.

We can eliminate pollution considerably by eliminating automation.

In fact, we should have a ministry of alternate transportation, headed by one of the babas, Since Baba Ramdev is busy making toothpastes and soaps, we can appoint Sakshi Maharaj to head this ministry. By giving him work,and keeping him busy, we can reduce his nuisance value.

I never even imagined that so many problems can be solved with just this one solution.
How come no one suggested such a great idea to the Modi government??????

P.S. I have nothing against Shri. Nitin Gadkari. He is a very honest and intelligent politician. He is from my place Nagpur.

As a president of BJP during 2010-2013. He built both the party and its reputation and created a mass base for the party, which Modi used for winning the 2014 election.

Thursday, December 29, 2016

After Demonetisation,Digital Deluge, Banks still not optimised 12-29

google-site-verification: googled8cb12c78271c415.html H_abxalAdC9Cg0xe3NtXHQ6qbrc 






Image credit : Shyam's Imagination Library

Government's decision to create an Aadhaar based payment platform is a welcome development.

But how far are the banks prepared to support this move technically and technologically??

SBI has announced that it has set up 3,00,000 terminals initially to meet the demand. ICICI Bank has also saod that it is ready with the infrastructure. Two or three more banks may also have the preparedness to take up the challenge, but what about the rest, specially the nationalised banks?

These banks have outdated software which are not only slow in action, they gobble up a heavy amount of bandwidth. They do not have capacity to take the load of this sudden surge in transactions.
Everyone is talking of digitalisation. For politicians it is a trend or fashion to use the word digital. It makes them appear "In Vogue" Indian politicians think they will be considered outdated, if they don't include the word digitisation in their narratives.

Everyone feels, that they can get digital overnight. They feel that digitalization is a product available in the market, they can buy like readymade apparel.

They feel that, by just buying few machines or creating few debit cards, they can transform the manual banking to digital banking.

Going digital is always a good idea. A hugely welcome idea.

But.............

I think, they are starting the digitalisation from the wrong end. They are starting it from the consumer end,actually it should start from the service provider end virtual Infrastructure needs to be put in place networking done Cloud storage facility built, and then as per the capacity the digitisation should be planned.

Before we proceed further, let us get some cold facts.

Percentage of Internet users

Only 24% of the population has access to Internet connectivity. What is the point in introducing digitisation when 76% of the population cannot take advantage of it. If the government was really serious about digitisation, it would have spent the two and half years in building internet corridors in the rural parts of India.

Internet Speeds

According to the 2015 report of Wikipedia, India stands second in the number of Internet users behind China. However, it ranks 105th in the world in terms of Average Internet connection speed, and 106th in terms of peak internet connection speed.

Download Speeds

The country is 96th in terms of download speed and 105th in terms of average bandwidth availability. It also has a record of poor internet security , which is progressively becoming worse.
While in download speed India is behind even Bangladesh and Nepal, it tops the world in terms of 'ransomware' attacks. These assaults target banks and establishments with sensitive, confidential information.

Bandwidth

In terms of availability of bandwidth, Sri Lanka, China, South Korea, Indonesia, Malaysia and several other countries are far ahead. Acquiring extra Bandwidth involves certain processes and protocols. Considering the outdated software most of the nationalised banks are using, huge quantum of bandwith will be gobbled up in the transactions.

Cyber Security

Cyber experts welcome the digitisation of transactions, but lament the deplorable condition of IT infrastructure and education.

As more and more people do online banking transactions, sensitive data like credit card details, shipping address, etc., are open to hacking. Yes, India is an attractive country for hackers, it is difficult to even fathom how much harm online hacking can cause to sensitive data on government and corporate websites.

Users and experts alike are worried about growing cybercrime, with almost zero conviction. Cyber experts say the public in India are wary of cyber transaction for fear of falling victim to hacking attacks that steal personal data and in the face of which banks and the police more often than not plead helplessness.

Experts say the government should simultaneously give a thrust to expanding support infrastructure and vigilance to ensure safer online monetary transactions. When it comes to cybercrime, India is 6th in the world. The incidence of cybercrime in the country has doubled in just a year.
India leads in the Ransomware attacks in 2016.

What is Ransomware??

Ransomware is a remote human attack on your system through deceit. I escaped it very narrowly after almost being a victim to it. In Ransomware attack, you get a call from a person, who identifies himself as an executive of the organisation whose OS you are using, gives you some advice on how to protect your system and advices you to not part with passwords to any one on phone, takes leave and ends the call. This is a harmless call so you are not worried. He calls back after a couple of days and warns about an impending attack and tells you how to protect your system from it. He makes you log into the system and instructs you step by step, on how to protect your system. You follow the instructions and do as told to protect your system. Actually you have not protected your system, you have locked it. Your system cannot be unlocked by anyone. After a couple of days, you get a call from another person, who says, he can unlock the system and asks for Ransom of a specific amount and gives details of a bank account and asks the person to make an online transfer. If you pay the amount, your system is unlocked in the same way it is locked. You cannot complain to police, because they are not located in your country. There are many safe heavens from where they operate. Next time you get a call from someone like this , be careful, don't follow the instructions.
When it comes to banks, Hospitals or other institutions which have heavy amounts of Data stored, these people hack the sites and steal data through online hacks. They demand hefty amounts as ransom to restore the data.

The government intention to digitise Bank Transaction is a laudable move. But a lot needs to be done for the digitisation to work

Digitalisation doesn't happen overnight. you need to place the virtual infrastructure in place, and should be supported by Artificial Intelligence of high caliber.

These include upgrading the software, upgrading the human skills to make them technology compliant, and acquiring additional bandwidth to meet the increased load
Buying additional cloud storage facility to store more data generated on account increased digital transactions.

Hiring additional data professionals to handle additional and increased data flow.
Hiring programmers and I.T. professionals.

Putting in place a robust supply chain for the seamless flow.

All these take time and it could be years before we can achieve all that we intend to achieve. Even an advanced country like USA took about ten years to reach a level of 50% digitalisation.
The present ground reality in India is that the bank websites are already showing signs of the stress.

We are already getting messages like

"Transaction not completed due to overload" or

"Transaction to this payee bank branch not possible."

or error message which reads "Something went wrong, your transaction cannot be completed"
It is worse with the public sector banks. And these are the banks which have maximum accounts and significant rural presence.

Private Banks have excellent digital infrastructure, but their reach is limited and comparatively they have very small number of accounts when compared to public sector banks.

The government should have first ensured that the digital infrastructure was in place and then gone for Demonetisation with more a viable alternative to the cash crunch..

Finally I would like to state that Digitisation is too intricate a subject to be covered by me alone, that too in one article. I have begun the effort, now I expect my friends in Data, and Digitisation to contribute to make this article more relevant nd complete.

Please liberally contribute in quality and content to this article through your comments on this blog or on any social media platform, where I promote it.

Best Wishes,

Shyam


Source of data : Economic Times, Wikipedia, Kaspersky.





List of countries with population, percentage of people using internet and the global rank

Country or areaInternet
users
RankPercentageRank
 China692,152,618150.30%90
 India340,873,137226.00%127
 United States239,882,242374.55%40
 Brazil122,796,320459.08%71
 Japan118,131,030593.33%9
 Russia105,311,724673.41%43
 Nigeria86,436,611747.44%95
 Mexico72,945,992857.43%85
 Germany70,675,097987.59%16
 United Kingdom59,538,5451092.00%27
 Indonesia56,612,5271121.98%127
 France54,536,4181284.69%14
 Vietnam49,265,5751352.72%104
 South Korea45,213,8021489.90%22
 Turkey42,275,0171553.74%94
 Philippines40,984,6541640.70%121
 Italy39,209,3421765.57%73
 Spain36,293,1651878.69%23
 Iran34,871,3671944.08%130
 Pakistan34,006,4772018.00%147
 Egypt32,851,4022135.90%89
 Canada31,796,0532288.47%20
 Argentina30,131,2282369.40%68
 South Africa28,291,4192451.92%90
 Colombia26,959,8452555.90%84
 Thailand26,721,6202639.32%132
 Poland26,256,0202768.00%63
 Bangladesh23,183,3722814.40%112
 Ukraine22,080,1872949.26%65
 Saudi Arabia21,958,4073069.62%66
 Malaysia21,553,2143171.06%51
 Kenya21,008,1483245.62%113
 Australia20,268,1643384.56%24
 Morocco19,622,6833457.08%76
 Venezuela19,246,5713561.87%77
 Taiwan18,639,7733680.00% year 201329
 Netherlands15,757,1093793.10%7
 Algeria15,152,6103838.20%149
 Kazakhstan12,843,5023972.87%80
 Peru12,833,0584040.90%112
 Uzbekistan12,794,4134142.80%115
 Myanmar11,749,5804221.80%205
 Chile11,538,8604364.29%53
 Ethiopia11,529,3274411.60%199
 Romania10,879,5144555.76%88
 Sudan10,706,5024626.61%140
 Belgium9,609,9634785.05%26
 Sweden8,861,1384890.61%4
 Czech Republic8,571,6104981.30%37
 United Arab Emirates8,354,8135091.24%17
 Ecuador7,901,0515148.94%110
 Azerbaijan7,510,5555277.00%72
 Uganda7,502,0245319.22%152
 Greece7,322,0665466.84%69
  Switzerland7,300,3345587.97%19
 Hungary7,177,4135672.83%42
 Austria7,171,4715783.93%28
 Portugal7,103,0705868.63%64
 Yemen6,734,8865925.10%143
 Ghana6,435,8436023.48%164
 Israel6,361,7186178.89%47
 Iraq6,272,1096217.22%172
 Sri Lanka6,212,4316329.99%141
 Hong Kong6,191,1426484.95%36
 Belarus5,909,2526562.23%79
 Serbia5,781,4576665.32%45
 Syria5,547,0236729.98%134
 Dominican Republic5,467,3936851.93%97
 Denmark5,461,0266996.33%5
 Tunisia5,460,2247048.52%105
 Finland5,098,9537192.65%10
 Norway5,044,7377296.81%3
   Nepal5,012,7087317.58%62
 Bolivia4,836,8427445.10%111
 Cameroon4,827,5767520.68%180
 Ivory Coast4,767,3277621.00%194
 Slovakia4,613,4047785.02%32
 Singapore4,600,6707882.10%40
 Guatemala4,428,9257927.10%144
 Lebanon4,329,5508074.00%48
 Jordan4,055,4888153.40%99
 Bulgaria4,051,0698256.66%81
 New Zealand3,995,0668388.22%25
 Ireland3,756,3988480.12%31
 Cuba3,543,2938531.11%135
 Zambia3,404,4718621.00%156
 Oman3,330,6348774.17%54
 Senegal3,281,5398821.69%142|
 Kuwait3,194,6488982.08%33
 Angola3,102,7259012.40%145
 Cambodia2,959,8019119.00%182
 Croatia2,959,7419269.80%52
 Paraguay2,946,4439344.38%123
 Democratic Republic of the Congo2,936,139943.80%197
 Puerto Rico2,927,0699579.47%39
 Costa Rica2,873,1719659.76%96
 Tanzania2,866,014975.36%190
 Afghanistan2,686,694988.26%183
 Palestinian Authority2,680,6339957.42%92
 Zimbabwe2,552,61010016.36%146
 Mozambique2,518,0081019.00%184
 Bosnia and Herzegovina2,479,43710265.07%43
 Uruguay2,216,78410364.60%74
 South Sudan2,212,52810417.93%11
 Rwanda2,089,74010518.00%174
 Qatar2,076,19810692.88%21
 Burkina Faso2,062,22410711.39%190
 Lithuania2,054,60510871.38%50
 Moldova2,027,93810949.84%91
 Panama2,012,11311051.21%108
 Mali1,819,80811110.34%195
 Georgia1,806,31511245.16%107
 Kyrgyzstan1,796,83811330.25%137
 Armenia1,757,81711458.25%93
 Albania1,740,90411560.10%67
 El Salvador1,649,27611626.92%138
 Honduras1,644,08211720.36%148
 Tajikistan1,609,85611818.98%153
 Malawi1,601,0171199.30%184
 Latvia1,560,63812079.20%34
 Slovenia1,511,36112173.10%41
 Macedonia1,462,81512270.38%65
 Haiti1,306,75012312.20%169
 Bahrain1,287,44112493.48%12
 Laos1,237,96812518.20%163
 Jamaica1,206,16212643.18%117
 Nicaragua1,198,16012719.70%155
 Libya1,194,15912819.02%149
 Estonia1,160,43212988.41%29
 Madagascar1,010,6161304.17%197
 Trinidad and Tobago941,18113169.20%61
 Cyprus835,75313271.72%57
 Turkmenistan806,02513315.00%170
 Benin738,7401346.79%187
 Mauritius638,38813550.14%113
 Mongolia634,43813621.44%149
 Botswana622,18313727.50%159
 Mauritania618,27013815.20%181
 Papua New Guinea601,9261397.90%177
 Guinea592,6041404.70%202
 Luxembourg551,96814197.33%9
 Namibia548,56514222.31%161
 Burundi544,4131434.87%204
 Togo520,0861447.12%189
 Macau455,98214577.60%56
 Niger441,7601462.22%200
 Fiji413,33114746.33%120
 Gabon405,44314823.50%172
 Montenegro404,00414964.56%75
 Swaziland390,98115030.38%136
 Chad379,0111512.70%195
 Republic of the Congo352,0691527.62%176
 Lesotho343,09815316.07%186
 The Gambia340,84615417.12%160
 Iceland323,49515598.20%1
 Malta318,94315676.18%49
 Bhutan308,38215739.80%131
 The Bahamas302,65415878.00%44
 Brunei301,31015971.20%60
 Guyana293,02616038.20%127
 Liberia265,7031615.90%188
 Suriname232,17616242.76%119
 Cabo Verde223,92016343.02%118
 Central African Republic223,4521644.56%192
 Barbados216,31616576.11%35
 Maldives198,04816654.46%100
 New Caledonia194,70716774.00%55
 Somalia189,8531681.76%203
 French Polynesia182,55216964.56%75
 Equatorial Guinea180,16617021.32%151
 Sierra Leone161,3301712.50%200
 Timor Leste158,75817213.40%206
 Belize149,42717341.59%50
 Guam124,25417473.14%58
 Djibouti105,83317511.92%171
 Saint Lucia96,84717652.35%124
 Aruba92,10817788.66%30
 Andorra68,29517896.91%6
 Guinea-Bissau65,2891793.54%193
 Bermuda60,96218098.32%2
 Antigua and Barbuda59,86518165.20%62
 Vanuatu59,15018222.35%167
 Comoros58,8201837.46%177
 Solomon Islands58,35918410.00%175
 U.S. Virgin Islands58,27918554.83%128
 Grenada57,48218653.81%125
 Saint Vincent and the Grenadines56,66818751.77%83
 Eritrea56,4601881.08%207
 Seychelles56,06818958.12%87
 São Tomé and Príncipe49,14719025.82%139
 Dominica49,13219167.60%70
 Samoa49,09919225.41%157
 Tonga47,77619345.00%125
 Cayman Islands46,17419477.00%38
 Faroe Islands45,40319594.20%12
 Saint Kitts and Nevis42,06819675.70%29
 Jersey38,958-41.03% year 2012-
 Greenland37,98219767.60%56
 Liechtenstein36,27019896.64%8
 Monaco35,22619993.36%11
 Micronesia, Federated States of32,90520031.50%133
 Gibraltar18,878-65.02% year 2012-
 San Marino16,48420154.21% year 2009.86
 Kiribati14,61520213.00%166
 British Virgin Islands14,45620337.60% year 201298
 Marshall Islands10,21720419.28%165
 Anguilla10,20920564.80% year 201359
 Tuvalu4,23420642.70%121
 Saint Helena2,906-37.6% year 2012-
 Falkland Islands2,842-96.9% year 2013-
 Montserrat2,83320754.60% year 201378
 Wallis and Futuna1,383-8.95% year 2012-
 Niue1,03420886.90% year 201318
 Ascension361-41.0% year 2012-