The country is passing through a biggest ever economic crisis and the rupee value is drawing close to its nullity. The confidence of the people stands miserably shaken. This is the time when the real factors responsible for such a collapse be worked out and searched fixing the responsibility to the individuals, or say the powers, for their lapses. Viewed seriously, what emerges to the surface is not just a lapse but wilful act(s) to serve the self interest for political reasons. Food Security Bill was passed posing it to be an area of interest for the common people which is not the fact. The fact is that it was purely done to appease the masses with the elections due the next year in view. In a way, it was most dishonest a move for the sake of securing necessary vote bank. Indian rupee is touching 70 against a dollar and instead of endeavouring to overcome the crisis, the fierce doze of Food Security Bill was imposed multiplying the financial burden by 1.25 lakh crores of rupees. Those responsible for failure to check the crisis must be put to task and account for their criminal sort of offences.
Friday, 30 August 2013
Monday, 26 August 2013
Whether it is worth being taken for granted or not is a different matter but there are experts who opine that the rupee crisis may not prolong. It is difficult to comprehend as to what could theirs be the logical basis in the matter except that the Finance Minister, P. Chidambaram continues beating a parrot in his every day repetition that there is no reason to have a panic on rupee crisis. Besides the Government, there are some economists who hold a view that it is the saturation point for dollar and that it has no likelihood of rising further in view of the indications of the global market. As at the moment, rupee stands at 64.25 against dollar which level is comparatively lower to what has been obtaining during the last week. What is the source of this lowering down is not visibly clear; if it is a trend, it is a welcome sign, if it is just a chance, it is only disparaging.
Thursday, 22 August 2013
Necessary nod has since been given to the Government of Kerala by the Reserve Bank of India to go ahead with the formation of a financial institution falling in line with Islamic principles. This Shariah compliant body will be the one not charging any interest on the advances made nor it will accept any interest on the deposits it will receive from the customers. It will also desist from dealing with transactions related to tobacco, liquor and speculative tradings. Islamic principles prohibit charging interest on borrowings and also on deposits received. It is quite nice an approach but the question is how a financial institution can survive without any intake of earnings by way of interest on the money lent out. Obviously there shall be many a takers so far as borrowings are concerned but who could be the people to deposit their hard earned savings without getting any thing by way of some interest on them. Only volunteers can do it but there again it is the number that counts as no purpose can be served if such depositors are only few and far between. May be some religiously committed people come forward making the institution work viably. All the best to the new venture.
Sunday, 18 August 2013
Share market of India suffered a severe setback in the last week with a record colossal jolt, the worst one during the last four years. Share market pundits say it may worsen further, some hold a view that it may improve the next week starting Monday the 19th of August. They derive their hopes from the other global markets. Despite regular assurances as from the Government of India, the Rupee ratio against US Dollar is at its bottom point and yet there is not even a remote indication in its improvement. Soaring prices know no end. In Banking industry, State Bank of India is the one hit worst. Individually speaking, there is an obvious reason in respect of it that the Bank has suffered a massive loss at a sequence on account of erratic policies on the part of its top management. If they are still unable to resort to necessary remedial measures, the losses in State Bank are sure to soar further resulting into their position in the stock market deteriorating more and more. Overall, the position of the banking industry is bad otherwise. This is an alarming position and it is better for the investors to be doubly cautious in their tradings.
Wednesday, 14 August 2013
Right after the days when US Dollar rose to equivalent of Indian Rupees at 58, there started a volley of assurances as from the Government, particularly the Finance Minister, to remedy the disbalance. Nothing worked, nothing moved in the directions of necessary corrections with the result that dollar continued soaring and
currently it stands at $1 against Rs.61.3125. Such a whopping level is reached not within a year or so, it has rather been happening since decades. As we quite remember that when India became a free nation in 1947, the position was $1 to Re.1, both just being equal. What is it that America is doing which India can’t do. Indian administrative mechanism can talk only like they are doing in respect of invasions from China and Pakistan, they are in actual terms like toothless fellows talking and laughing always unable to deliver any goods. No surprise if dollar goes up to much higher a level than where it stands now. Thanks to impertinence on the part of the Indian Government.
Saturday, 10 August 2013
It’s a thrilling news that that the living legend of the stature of Zubin Mehta, a music wizard of Indian origin now aged 77 years currently based in USA, is scheduled to perform in Srinagar (Jammu and Kashmir) some times in September this year tentatively in the Moghal Gardens there. He is likely to be accompanied by hundreds of the other musicians belonging to his team reaching India two days before the spectacular event. Finalisation of the arrangements in an elegant manner are in the offing at the top priority level in the State. The entire programme is to be telecast to about 100 countries of the world to the benefit and interest of the music lovers. The Chief Minister of Jammu and Kashmir, Omar Abdullah, is personally taking keen interest to see that the programme gets necessary priority at the top level. He is likely to address a press conference in the matter at New Delhi shortly. This shall certainly be a proud occasion for the country for the reason that Zubin Mehta is not only a great music wizard, he originally belongs to India the citizenship of which he still retains.
Tuesday, 6 August 2013
The largest non-life insurer, the New India Assurance Company, till now had a clause to discourage insurance to the patients having diabetes and hyper tension, or accept them on an additional charge prescribed for the purpose. This has since been modified waiving the additional charge to the relief of a big chunk of people. The company has also modified their provisions in respect of people having tobacco related ailments facilitating the insurance for those having tobacco related problems. This modification is however not to apply in the cases of lever cirrhosis normally caused by excessive consumption of alcohol. These liberalisations considerably facilitate disposal of necessary claims in large number of cases. Overall these are the measures aimed at giving relief to a large number of insurance seekers who will now find it easy to go for it to insure themselves. These gestures on the part of New India Assurance are certainly highly welcome.
Friday, 2 August 2013
Demons and devils are not any separate community by themselves, it is the humans themselves who act as such to satisfy their ego and vengeance. As reported by the media, a man brutally killed his two children for the reason that he had suspicion against his wife on her integrity and character and that she had sexual relations with some one else. The man named Suresh Kumar was married to one Sheetal Sharma of Pathankot (India) some two years back. They had a daughter Navya aged 11 months and a son aged 2 months plus. His doubt was that the children are not his. Implementing his horrifying plan to kill both the children, he picked up a lizard, killed it and boiled it in milk forcing the kids to drink the same. Both of them died on the spot. Suresh Kumar was right or wrong in his doubts against his wife Sheetal Sharma is entirely a different matter but there is nothing that can justify the killing of the innocent kids. It was as a matter of vengeance and with a view to create panic and horror for his wife that he perpetrated such a ghastly and devilish act. Even the water of seven oceans is not enough to clean his hellish act against kids, the innocent ones to realise any purpose for eliminating them.