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Showing posts from July, 2013

Of threats, fears, inaction…and America

Joseph R. Biden Jr. just became the first US Vice President to visit India in three decades. While India considers this to be a proof of its popularity and widespread influence, there is The People’s Liberation Army of China (PLA) proving us all wrong. PLA crossed the Line of Actual Control (LAC) into India for the nth time this year alone! That China is bullying India has become more a common headline these days – and during a time when India is busy with some ineffective verbal tactics to cajole and persuade its adamant, powerful neighbour. But all along, we’ve seen China adopting the carrot and stick approach while dealing with our nation. How have we reacted? Actually, the more pertinent question is – have we? History stands testimony to the fact that India – more often than not – chooses to sit back and take the blow (or many blows-after-many!) than being proactive in its foreign policy. Is there a wiser justification to the fact that even a much smaller (and weaker perhaps)

The need for credit expansion in India

India had been one of the fastest growing economies till early 2011. For almost half a decade before that, along with China, India was clocking over 8 per cent GDP growth annually and talks among analysts were ripe that India, along with its neighbour, would spearhead Asia’s rise in the new world order of the 21st century. However, things have gone awfully wrong for us ever since! The growth rate has kept plummeting, ebbing now at less than 5 per cent in the previous financial year; even till date, there is little light at the end of the tunnel. Two of the foremost reasons for such bottoming out are dried up investments and a rising current account deficit, which are becoming worse with each passing year as the burden of the global slowdown becomes heavier. While our current account deficit has reached a record 4.8% of GDP in FY 2012-13, as per a recent chamber of commerce report, new investment proposals from domestic and foreign entrepreneurs have dried up by 75% as compared to the

The Supreme Court judgment on tainted politicians is exciting, yet half-baked!

The Supreme Court’s recent landmark judgment, which ensures that convicted politicians will now get immediately disqualified from contesting in elections or holding office, marks an end to almost a two decade long tug-of-war between political parties and the Election Commission over the right of electoral candidacy to tainted candidates. While it is surely a landmark judgment and it’s not fair to be critical about everything, yet, the board is split into equal halves in their opinion towards the SC ruling, as pros and cons of the judgment seem to weigh equally. On the one hand, just because a case is hanging against a candidate, it is grossly unfair for the person to be assumed disqualified (due to the hyped up fear of future conviction) – as the allegation could well be fabricated. As it often happens in the political domain, a candidate could be debarred based on false allegation brought about by vested interests to stonewall him from standing in an election. It’s quite easy and