Wednesday, November 30, 2005

Volcker Report

Some hard facts that come out in Vocker's damning report.

1] A Congress delegation headed by Natwar Singh visited Iraq in January 2001. Jagat, Singh's son accompanied them in the capacity of youth Congress party worker.

2] Four allocations of one million barrels each was made to the Congress but no individual is mentioned.

3] The delegation handed over a personal letter from Sonia Gandhi expressing solidarity with Iraq regime (get the drift here)

4] "Natwar Contract" as its called in the report made roughly around 12.05 crores profit. "Congress contract" made another 2.93 crores INR.

5] Andaleeb Sehgal a close friend of Jagat was present in the meeting and acted as middle man.

Source : India Today

From above it is clear that the smoke is not without the fire. It is not proved conclusively though and may not be even be proved considering that only limited privileges have been given to Justice RS Pathak committee which is inquring into this scandal.
But that is expected. As it should be expected of a Congress run regime. Congress and corruption have a very healthy relationship and this marriage is now generally accepted by the people of India. People actually expect Congress to be corrupt and such exposes have become more or less mundane in India.

But thats not the point at all. If i recollect correctly , during the NDA rule, the media went out of the way to put the Government on the mat whenever a scandal was discovered. Indian Express carried a seperate link on its website for several days ( i believe more than a year) for what it called the "petroleum scandal". (Which btw pales in comparison)
The Times of India carried editorials after editorials demonising NDA and George Fernandes. The Hindu , off course , as one would expect was hitting Vajpayee below the belt at every opportunity.
Apparently they were doing their duty as a vigilant entity of the society and democracy. Fine.
But where has that virtue of the fourth estate vanished all of a sudden. No hard hitting article, no dedicated links on website, no nothing ! No one barring India Today dared to question the government on this ?

Volcker Report is another classic example of how badly the media in India is skewed in Congress and Left's favour. Unless we have a balance in the media there will never be a possibility of objective analysis of nation's problems. Congress will always be spared and BJP will always be the villian.

Sadly most readers take the journalists on their face value. Whatever is written or spoken by TOI/NDTV is taken as a gospel truth.
As educated individuals we should have the ability to recognise the bias in the media reporting. Sadly even people with good education lack the ability to look beyond the obvious. Most actually do not care and go along with what is fashionable.

Newspapers like TOI and organisations like NDTV are according to me the biggest culprits of our generation. Sadly they also are the market leaders. But India always had wrong heros, didn't we?

The burden of Left

India Today carried a very interesting report last week, on how the Left is constraining the growth of the country.
I cannot recreate that article here but there's a small little information in tabular format that tells the big picture.

[..]COST OF LEFT
What does loss of 1% of GDP growth add up to? For instance, in 2004-5 the GDP in nominal terms was Rs 28,38,000 crore. If it had grown by 1% more, it would have been Rs 31,80,700 crore. That's a loss of Rs 3,42,690 crore, over 10 times the money spent by the Centre on health, education.[..]


WHAT'S ON HOLD UNDER LEFT PRESSURE

-BHEL disinvestments

-49% FDI in insurance

-Interest rate cut on EPF

-Labour reforms

-FDI in retail sector

-PSU disinvestments

-Pension reforms

Can you do the math for the number of years lost and are expected to be lost because of the "curse" called Left policies?

Tuesday, November 29, 2005

10% Growth

The rediff.com headlines reads in bold - PM pitches for 10% growth.

There's this comic character in India called Shikari Shambu. Now this hunter (shikari) is actually a nervous reck who bumbles and fumbles but somehow becomes the hero in the end because some of his mistakes actually cause the wild beast to die or being captured.
He invariably becomes the hero in the eyes of unsuspecting villagers by default. And then Shikari Shambu smartly carasses his moustache in the end of each comic strip and conviniently claims the honour and badge of a hero.

When i see Sonia Gandhi's clerk , Manmohan Singh give sermons on economics i remember Shikari Shambu.

This was the man who became our FM in 1991/92. The country had by then mortgaged gold to World Bank against loan. There was this brilliant man called Narsimha Rao running a government. And there was this weak opposition. There was also a huge pressure from IMF and other external bodies to liberalise (or good word is liberate) our economy. In fact it was a precondition for the loan that could bring India out of the mess it was in.

A great PM, a weak opposition and a huge pressure-nah condition- from IMF to free the economoy. And what the FM did? Yea you guessed it. Take the first steps to liberate.

And bang. The entire Indian media, the entire indian middle class hails this fella as the Hero of Free Markets. Bang !. One shot this shikari shambhu is branded the saviour of our nation's economy.

Much like how Gandhi/Nehru are attributed for our independence from Britishers. This Sardar has become the icon amongst the Economic Times readers. That the British left the country on their own will and because ruling India was no longer profitable to them after the WWII is lost on many innocent souls; similarly no one realises that irrespective of whoever would have been the FM at that point of time would have done the same darn thing i.e free our economy from the prison of Nehruvian socialism and license quota raj of Indira Gandhi.

Nevertheless this man today stands as the father of modern economy. Its his brand. Like Gandhi or a Nehru... this guy is now married to a brand now. You just have to live with it.

I have this thing about brands. For example i never liked Sunil Gavaskar as a batsman. I know his brand was bigger than him. But no. Somehow i am rebellious in nature. I think he was not a team man. I do not recollect him coming at crucial times and winning a match for the country.

OK so now our alleged PM says that we must target 10% growth. Thanks a lot ! Tell us something new Mr. PM. You inherit the best possible economy from your predecessors and than talk like a champion.

And how does our "economist" PM plan to achieve this ? Well don't ask that ? Don't even bother.

He says there won't be any dis-investments in PSU (navratnas), he comes up with an economic blood bath called "social spending" (free jobs and stuff) , he does not have time to invest in infrastructure and make a compelling case for FDI, he cannot stop pinkos from unionising the two most promising sectors in service industry viz IT and BPO and yet he comes up with grand statements.

But you know what? He's right. Actually India is on an economic juggernaut now, and that is unstoppable. So not because, but INSPITE of this rag-tag government at the centre India will hit the 10% growth rate. And Mr. Singh our own Shikari Shambu will be crowned for the second time by the Economic Times and its lesser siblings in the media as the baadshah of Indian economy.

Singh may be a good man. I do not abhor him. He's a good man. My problem is with the undue credit he gets all the time. His lovers either portray him as a "simple", "honest" person at one end or the champion of free economy at the other.
He's neither. He's the king of defaults.

Sonia chose him as PM because he was the most harmless of em all. He does not have a mass following that can challenge Gandhi family's dominance. Neither does he have connections within the party. He was the best bet to keep the PM's seat warm until Rahul saheb was ready to take on. And Sonia the great "sacrificing" bahu of the biggest melodrama in India called Congress party has hit the bull's eye by making him PM. She need not worry of a rebel as a faithful dog will never bark at his masters. Singh will never grow beyond his madam's shadow. He cannot dare to.
So now as the queen prepares her son and prince for the much coveted crown the rest of the media simply waits for this lame duck to deliver.

India is at a threshhold of becoming a super-power. If not super, atleast a very formidible force in world politics. If we miss this chance we will never know when it will come. We have been mere pushovers till now. But we have a chance; if only like an opportunist we encash it.

Sadly with the current disposition i do not see it happening. Our policies are too much tilted on the Left to make considerable progress. There's no substatial backing to PM's optimism. His roar lacks bite.

With Left as your partners you can only go a certain distance. You can only push so much. Alas if keeping BJP away from power was not the only glue holding our parties together we could have achieved a whole lot.

Right wing politics has its own problems no doubt. But atleast on economics front right wing is great. The Soviets were constantly put on their toes by the conservative Reagan regime during the cold war; a great steam was lost by Russia during that period. Similarly Margaret Thatcher years of rightwing policies was a golden period in UK's history, economically.

By ousting NDA, the people of India deprived them of an extended conservative regime and broke the cycle mid-way of a potentially healthy period of stability and growth. With policies now taking a left turn again or in due course likely to take a left turn again, it will be back to square one.

Good take by Bhalla

Surjit Bhalla has a good take on relations between economic performance of a state and subsequent elections, in India.

You guessed it. There's no relation at all. No surprises here.
Check this out....

http://us.rediff.com/money/2005/nov/26guest1.htm

NDA finally conquers Bihar

After the 1999 general elections Arun Jaitely of the BJP had this to say of Lalu after the huge RJD debacle-
"You can fool all the people sometimes; You can fool some people all the time; But you cannot fool all the people all the time"

This quote stuck with me for long. Arun Jaitely has been working hard ever since. Arun Jaitely is the smartest of em' all as far as BJP goes and sadly he's in minority in that party. There are some real dumb asses in BJP.
Nevertheless Jaitely and Co managed to pull up something improbable this election season in Bihar. They actually were able to route out this sick man (read Lalu). And emphatically.

Our lame duck Cabinate Secretary, oops! sorry Prime Minister Manmohan Singh had the balls to call Lalu a "Vikas Purush". just before elections. :-)

Well we know Mr. Singh, you are just warming the PM's seat for "laadla" Rahul to take over and you are a stop gap arrangement at best, till Rahul "jee" is packaged completely by Congress and Messrs TOI, NDTV et al as our next PM. But don't you Mr. Singh as an educated, "honest" man
have the minimum sense of understanding vis-a-vis Lalu's reputation?

Lalu Prasad Yadav is anything but Vikas Purush. He has often scoffed at journalists for raising the issue of vikas or development, bluntly letting them know that Vikas is not an issue at all.

A free and fair election in Bihar has atleast undone this myth that Lalu created - that of Biharis not wanting development. Hopefully the Election Commission can someday conduct a fair election in West Bengal too and destroy the myth that Bengalis are a great fan of Communism.

Coming back to Lalu. Lot of people feel that Bihar was already at its pit bottom. It couldn't have gone worse. Under Lalu it was at the bottom of most surveys conducted by India Today. Whether it was education, health, infrastructure etc. Bihar probably epitomised everything that was wrong with India. Whether castism, corruption, terrorism etc. Hence hopefully from hereon it will only be upward movement for this sad state. And Nitish Kumar, a qualified engineer, is just the right person , i feel, for this job.

The real winner of these elections has been the Judiciary who very rightly castigated the UPA government in general and Buta Singh in particular for playing mischief with the system after the last election results. That was a classic example of the amount of vulgarity and crudeness accompanying this current establishment.

Anyways. Everything happens for a reason. Had Congress and Sonia not shown so much of lust for power the people of Bihar would not have rejected them so strongly. In a way the people of Bihar have answered in the best possible manner.

The Bihar elections are likely to have an impact on the working of UPA government at the centre. Frustrated Lalu and Communists would make life more difficult for the Congress, i feel.

I was reading a piece by TVR Shenoy in rediff.com and realised one very crucial thing. Congress is a spent force in two of the most crucial states in the country today. UP and Bihar. Both together sending more than 100 MPs. If Congress is (day) dreaming of making it alone the next election i think it has its work cut out. The Sonia/Rahul/Priyanka charishma may be limited to a few pockets aftter all.

I think in a way it is sad. A weak Congress is not good for the nation. Ideally we should have a two party system like, lets say, in US or UK, with Congress representing the left and BJP representing the right. That would stabalise the nation to a very large extent. Unforntunately the Communists and the Mulayams and Lalus are quite a force and have a high nuisance value.
They can go to any extent to destroy a system. Best example being West Bengal and UP.

We can just live with hope that these elements will cease to exist someday. I know that is being too optimistic. But whats wrong with hoping.

Meanwhile some anti-nationals like Praful Bidwai have already started blaming the EC for conducting a free poll. Apparently, and this is what Mr. Bidwai feels, conducting a free and fair elections caused the so called weaker sections (read muslims) of the society to remain away from booths and hence he feels Lalu lost so massively. If you want to have some comic relief read his column on rediff.com

Most of us know by now that West Bengal elections are rigged scientifically. If that does not explain single establishment ruling that state for over three decades, nothing does. I know Bidwai wouldn't like a free poll in West Bengal as well, going by his argument above.

In the meantime its time for rejoice for all the right thinking individuals in the country. Bihar sans Lalu is good news. For Bihar and for the nation. Here's hoping that India can someday free itself of Monarchy (read Gandhi family) , passivism (read pseudo-secularism) and terrorism (read Communists).

Thursday, November 10, 2005

Railway accidents in 2005

This is straight from dailypioneer.com

2005's 11th mishap


November 9: Six persons killed and 25 others injured when a coal-laden goods train rammed into the middle of the Gomoh-Shaktinagar passenger train as it was pulling out from a loop line at the Barwadih station in Jharkhand's Lathehar district.



October 29: About 125 killed when bogies of a Secunderabad bound passenger train is washed away in a flash flood at Valigonda near Hyderabad.



October 3: 17 killed as Varanasi-Gwalior Bundelkhand Express derailed and crashed into a railway cabin near Datia station in Madhya Pradesh.



August 18: Two Toy trains collide at the stretch between Gayabari and Tindharia near Darjeeling denting the records of 125 year old history near Darjeeling.



July 28: 12 killed in a blast aboard the New Delhi bound Shramjeevi Express near Jaunpur in UP.



June 19: 32 passengers injured when the Puri bound Purushottam Express collided with a light engine on the same track near Gamharia in Jharkhand.



June 6: Two persons were killed and 30 injured when the engine and four bogies of Chittod-Mhow Shuttle derailed near Ratlam station in Madhya Pradesh.



April 21: 17persons died and 92 others injured when the Ahmedabad bound Sabarmati Express collided with a stationary goods train at the Samlaya railway station.



April 4: Several injured in a major fire in three coaches of the running Udayan Abha Toofan Express near Darauli station on Mughalsarai-Buxar section.



February 3: 52 people killed and several injured when a tractor-trolley carrying a marriage party was hit by a passenger train at an unmanned railway crossing at Kanhan near Nagpur.



January 23: Five persons were killed when they were pushed out of stationary Farakka Express by troops of Rajputana Rifles, near Shikohabad in UP.



Compiled by: Deepak Kumar Jha

11 accidents in as many months. Lalu Prasad Yadav, whom our "Economist Prime Minister" calls "Vikas Purush" :-) , is the railway minister.

Lalu is going to be the railway minister for atleast next 4 years, ie nearly 50 months. You do the math.

Amen !