Inflation

Read Two Minutes About MMS

2011-11-08T17:07:00.000-08:00

Respected Manmohan Singh , Prime Minister of our country says, “Food inflation may be sign of growing prosperity”.

Manmohan Singh is surrounded by persons of top trade houses and top industrialists of the country. He lives in and around richest people of India and he interacts only with mostly rich people. He moves in foreign countries for attending various meeting , talks with wealthy ministers and guided by corrupt team of senior officers and hence he always come across signs of prosperity.

He has read in books various principles of economics and the result of various economic theories. He keeps his eyes and ears closed and act as per theory what he has read during his college life when the economic condition and global scene was entirely different.

Manmohan Singh is thus not aware of pathetic position of 100 crores Indians who live and die in poverty, who are moving from pillar to post in search of suitable employment and who cannot afford good house to live in and good schools and colleges where he can afford quality education.. He is not at all interested to realize the pain of poor and this is why he says that food inflation is sign of growing prosperity.

Government of Manmohan Singh may blame BJP, NDA or other opposition parties or state governments for the failure of central government in stopping price rise or in curbing corruption , may promise for uncalled for reservation quota for Muslims or Dalits, may waive loans of farmers to the tune of billions of rupees on the eve of general election, may torture Team Anna or Ramdeo and their followers but cannot change the perception of common men for long. Anger of common men against anti people attitude of the government is visible to all.

Manmohan Singh says that food inflation is the sign of growing prosperity. In our country, person earning Rs.32 and higher in a day is not poor as per guidelines issued by his government and hence he is right in saying that Indian mass is prosperous .

National advisory committee advises Sonia Gandhi that rise is petrol price will not have much impact on inflation and not affect or contribute in price rise. It further says that petrol is used by hardly 5% of Indian population. It means 95% of Indian population cannot afford Motor cycle or scooty and they do not need petrol. This is why Manmohan Singh justifies hike is petrol price and he is further ready to accelerate price rise and inflation by deregulation of price of diesel in line with petrol deregulation so that prosperity of India my go up and up. Three salute to Doctor MS for his vast knowledge in Economics.

I am a layman, however i would like to suggest learned MS to impose tax on water and there is no doubt that price rise will be more steep and food inflation will go higher and higher symbolizing prosperity growth of the country and at last his reputation will go from global level to other planets too.

Theory without practice is impotent and practice without theory is blind.
Leaders like Manmohan Singh, Chidambram, Pranab Mukherjee and Montek Singh Ahulwalia may possess a good number of valued degrees in Economic and political science, but they have miserably failed in using economic principles and political ideologies for the betterment of common men and for overall development and equitable growth of the country.

Manmohan Singh may be clean and honest and simple too but he as head of the government has failed to stop corruption of his ministers.

There may be many reputed advocates in the cabinet of Manmohan Singh, but they have completely failed to ensure quick and affordable justice to all.

There may many wise men in the government ruling the country, but they have not performed well to provide affordable education to children of poor and middle class families. Congress Party could promise a lot of public welfare scheme but during last fifty years of their rule they could not ensure safe water , quality health care centers and adequate electricity in all part of the country.

Policies of reformation, privatization, liberalization and globalization adopted by Manmohan Singh led government may have given benefits to a few hundred rich trade houses but failed to protect the interest of common men.

Leaders of ruling UPA led by Congress Party may have experience of four to five decades in ruling the country but they have completely failed to ensure good governance and corruption free departments and failed to mitigate the hardship common men are facing in their day to day life.

GDP growth of India may be comparable with China and may be higher than that of USA, UK, Japan, Germany and many other developed countries. But the government led by Manmohan Singh has completely failed to provide comfortable and respectful living for common men.

Price rise and pain of inflation is beyond control of the government. Manmohan Singh has given conflicting and confusing statement many times during last three four years on the issue of price rise but failed to convince aggrieved common men. Sometime he says that he has got no magic stick which can stop price rise and some other time he says that he says that price rise represents prosperity of Indians.

He says that his government has been taking appropriate steps to contain price rise and have been making one after promises to control price rise, giving one after other dates by which prices of goods will start coming down.RBI has taken a lot of monetary steps, revised interest rate 13 to 14 times and amended policies frequently to control price rise and inflation but failed to achieve the goal.

I am however hundred percent sure that person like Manmohan Singh cannot control price rise because instead of striking at root cause of price rise and inflation they are providing all ingredients needed for speedy growth of root causes of price rise and inflation. The causes which results in price rise and inflation are in view of Manmohan Singh are contributors of growth and development and also help in survival of his government.

What is justification for giving subsidy, interest concession, providing free land or low cost land to big exporters, top industrialist when our government thinks it unwise and undesirable to give tax concession on prices of petrol to give relief to common men?

They may think that diesel is used by only poor and by farmers or by only bus operators, not at all by rich people? They are totally mistaken and misguided. Bitter truth is that diesel and domestic gas cylinders are used by rich business men in their diesel car and for their hotel, businesses, and industries and so on. Government may think that poor only uses kerosene oil? But the bitter truth is that kerosene is mostly used in adulteration by petrol or diesel distributors in nexus with oil producing and oil distributing companies.

Secondly when government is weak, why is government providing high class food to MPs at nominal and negligible cost and bearing the entire cost from government exchequer?

Why all PSUs provide subsidized goods including gas , coal, food, houses to their employees.?

When government says that it has freed petrol price to be decided by market dynamics, why not the same government is withdrawing all facilities extended to exporters, importers, industrialists, traders, service providers and leaving them to survive on market dynamics?

Why all bitter laws are meant for poor and downtrodden only. It hardly matters much if a few facilities are snatched from rich class people to share the same with common men.

Unfortunately Government decides and regularly regulates bus fare, auto fare, taxi fare, coolie charges but not having any control on higher and higher profit ratio loaded on each goods by their producers and sellers.
Government of India under the leadership of Manmohan Singh introduced policies of liberalization, privatization and globalization in the year 1991 and since then pathetic position of common men have gone from bad to worse and the difference between rich and poor have widened to a dangerous level.
Number of poor has trebled i.e. from 35 crores to 105 crores and number of rich has also trebled from 5 crores to 15 crores. Unregulated and unwarranted freedom to business houses, to rich people and to high profile politicians has resulted in globalization or protest, globalization of revolt. A few lacs of Politicians, a few lacs of officers and a few crores of businessmen have accumulated all wealth in their fold and poor common men are left crying and crying only. It is poor who are later termed as downtrodden and destitute.

Even banks which were nationalized by Indira Gandhi to serve common men from local money lenders and to extend loan to common men at subsidized rate are now engaged in serving only rich people. High value loans processed in a day or two and sanctioned at low interest rate whereas low value projects are referred to NGO or Micro Finance Institutes which charges unbearable interest rate and where even months are wasted in processing and sanctioning of loan.. Higher the deposit, higher is the rte offered by banks, For low value deposits, even savings deposits: banks offer lower rate than rate which is offered to rich people for bulk deposit.
Lastly I dare ask a question to all,

How long 115 crore poor people support anti poor policies of Manmohan Singh and his government?”

HAATHI CHALE BAZAR, KUTTE BHONKE HAZAAR ----At present the situation in our country is entirely different ----Kutta Bhunke ek, Garzan kare hazaro hanthi-------------- I am unhappy to observe that members of Team Anna, Ramdeo Baba and his followers are giving unwarranted reaction / response on the barking of one Dog let loose willfully by ruling party to weaken movements launched by various forum and organization against their misdeeds, against corruption, against black money and against unprecedented price rise.

It is unfortunate that One Dog is barking all the time on all issues and against all right thinking people and diverting the mind of all media men and India loving citizen from burning national issues to totally irrelevant and non Issues. I condemn media men who try to focus the mind of views on non Issues and dilute the intensity of movement launched against black money, corruption, price rise etc.

I appeal to all who are supporters of fight against corruption and black money and those who are followers of Team Anna and Ramdeo or Guru Ravi Shankar should avoid responding on statement made by barking Dog. Rather I appeal to member of all these forums to shed their personal differences and personal ego and come together to fight against the corrupt system jointly. Please do not common against each other to become victim of ruling party which is bent upon ruling the country by adopting the policy of “Divide and Rule”

If ruling party can peep into past of Ramdeo Baba and member of Team Anna to puncture their movement , why not members of Team Anna and Ramdeo Baba spread all over the country discover the evil works and crime committed by important members of ruling party silently and expose them.

We should stop fighting in past and try to involve in healthy discussion on current issues. Everyone is Khira Chor, it does not mean that Hira chor should be exonerated from his guilt and doors of courts and that of police station should be closed for all.
“Chori upar Sina Chori” is possible by ruling party only because we are divided on various points like caste, community, region, religion and personal egos as mentioned above.
Ravan ka Badh karna hai to Ram aur Ram ki Sena ko chalaki se yudh karna hoga.

Food Inflation

2011-11-06T21:25:00.000-08:00

Our Prime Minister, respected Manmohan Singh say, “Food inflation may be sign of growing prosperity”.

Manmohan Singh is surrounded by persons of top trade houses and top industrialists of the country. He lives in and around richest people of India and he interacts only with mostly rich people. He moves in foreign countries for attending various meeting , talks with wealthy ministers and guidedby corrupt team of senior officers and hence he always come across signs of prosperity.

He has read in books various principles of economics and the result of various economic theories. He keeps his eyes and ears closed and act as per theory what he has read during his college life when the economic condition and global scene was entirely different.

Manmohan Singh is thus not aware of pathetic position of 100 crores Indians who live and die in poverty, who are moving from pillar to post in search of suitable employment and who cannot afford good house to live in and good schools and colleges where he can afford quality education.. He is not at all interested to realize the pain of poor and this is why he says that food inflation is sign of growing prosperity.

Government of Manmohan Singh may blame BJP, NDA or other opposition parties or state governments for the failure of central government , may promise for uncalled for reservation quota for Muslims or Dalits, may waive loans of farmers to the tune of billions of rupees on the eve of general election, may torture Team Anna or Ramdeo and their followers but cannot change the perception of common men for long. Anger of common men against anti people attitude of the government is visible to all.
Manmohan Singh says that food inflation is the sign of growing prosperity. In our country, person earning Rs.34 and higher in a day is not poor as per guidelines issued by his government and hence he is right in saying that Indian mass is prosperous .

National advisory committee advises Sonia Gandhi that rise is petrol price will not have much impact on inflation and not affect or contribute in price rise. It further says that petrol is used by hardly 5% of Indian population. It means 95% of Indian population cannot afford Motor cycle or scooty and they do not need petrol.This is why Manmohan Singh justifies hike is petrol price and he is further ready to accelerate price rise and inflation by deregulation of price of diesel in line with petrol deregulation so that prosperity of India my go up and up. Three salute to Doctor MS for his vast knowledge in Economics.

I am a layman, however i would like to suggest learned MS to impose tax on water and there is no doubt that price rise will be more steep and food inflation will go higher and higher symbolizing prosperity growth of the country and at last his reputation will go from global level to other planets too.

Theory without practice is impotent and practice without theory is blind.
Leaders like Manmohan Singh, Chidambram, Pranab Mukherjee and Montek Singh Ahulwalia may possess a good number of valued degrees in Economic and political science, but they have miserably failed in using economic principles and political ideologies for the betterment of common men and for overall development and equitable growth of the country.

Manmohan Singh may be clean and honest and simple too but he as head of the government has failed to stop corruption of his ministers.

There may be many reputed advocates in the cabinet of Manmohan Singh, but they have completely failed to ensure quick and affordable justice to all.

There may many wise men in the government ruling the country, but they have not performed well to provide affordable education to children of poor and middle class families. Congress Party could promise a lot of public welfare scheme but during last fifty years of their rule they could not ensure safe water , quality health care centers and adequate electricity in all part of the country.

Policies of reformation, privatization, liberalization and globalization adopted by Manmohan Singh led government may have given benefits to a few hundred rich trade houses but failed to protect the interest of common men.

Leaders of ruling UPA led by Congress Party may have experience of four to five decades in ruling the country but they have completely failed to ensure good governance and corruption free departments and failed to mitigate the hardship common men are facing in their day to day life.

GDP growth of India may be comparable with China and may be higher than that of USA, UK, Japan, Germany and many other developed countries. But the government led by Manmohan Singh has completely failed to provide comfortable and respectful living for common men.

Price rise and pain of inflation is beyond control of the government. Manmohan Singh has given conflicting and confusing statement many times during last three four years on the issue of price rise but failed to convince aggrieved common men. Sometime he says that he has got no magic stick which can stop price rise and some other time he says that he says that price rise represents prosperity of Indians.

He says that his government has been taking appropriate steps to contain price rise and have been making one after promises to control price rise, giving one after other dates by which prices of goods will start coming down.RBI has taken a lot of monetary steps, revised interest rate 13 to 14 times and amended policies frequently to control price rise and inflation but failed to achieve the goal.

I am however hundred percent sure that person like Manmohan Singh cannot control price rise because instead of striking at root cause of price rise and inflation they are providing all ingredients needed for healthy growth of root causes of price rise and inflation. The causes which results in price rise and inflation are in view of Manmohan Singh are contributors of growth and development and also help in survival of his government.

Food Inflation

2011-11-06T00:33:00.000-07:00

Our Prime Minister, respected Manmohan Singh say, “Food inflation may be sign of growing prosperity”.
Manmohan Singh is surrounded by top trade houses and top industrialists of the country. He lives in and around richest people of India and he interacts only with mostly rich people , he moves in foreign countries for attending various meeting and hence he always come across signs of prosperity. He has read in books various principles of economics and the result of various economic theories. He keeps his eyes and ears closed and act as per theory what he has read during his college life when the economic condition and global scene was entirely different.

Manmohan Singh is thus not aware of pathetic position of 100 crores Indians who live and die in poverty, who are moving from pillar to post in search of suitable employment and who cannot afford good house to live in and good schools and colleges where he can afford quality education.. He is not at all interested to realize the pain of poor and this is why he says that food inflation is sign of growing prosperity.

Theory without practice is impotent and practice without theory is blind.
Leaders like Manmohan Singh, Chidambram, Pranab Mukherjee and Montek Singh Ahulwalia may possess a good number of valued degrees in Economic and political science, but they have miserably failed in using economic principles and political ideologies for the betterment of common men and for overall development and equitable growth of the country.

Manmohan Singh may be clean and honest and simple too but he as head of the government has failed to stop corruption of his ministers.

There may be many reputed advocates in the cabinet of Manmohan Singh, but they have completely failed to ensure quick and affordable justice to all.

There may many wise men in the government ruling the country, but they have not performed well to provide affordable education to children of poor and middle class families.

Policies of reformation, privatization, liberalization and globalization adopted by Manmohan Singh led government may have given benefits to a few hundred rich trade houses but failed to protect the interest of common men.

Leaders of ruling UPA led by Congress Party may have experience of four to five decades in ruling the country but they have completely failed to ensure good governance and corruption free departments and failed to mitigate the hardship common men are facing in their day to day life.

GDP growth of India may be comparable with China and may be higher than that of USA, UK, Japan, Germany and many other developed countries. But the government led by Manmohan Singh has completely failed to provide comfortable and respectful living for common men.

Price rise and pain of inflation is beyond control of the government. Manmohan Singh has given conflicting and confusing statement many times during last three four years on the issue of price rise but failed to convince aggrieved common men. Sometime he says that he has got no magic stick which can stop price rise and some other time he says that he says that price rise represents prosperity of Indians.

He says that his government has been taking appropriate steps to contain price rise and have been making one after promises to control price rise, giving one after other dates by which prices of goods will start coming down.RBI has taken a lot of monetary steps, revised interest rate 13 to 14 times and amended policies frequently to control price rise and inflation but failed to achieve the goal.

Government of Manmohan Singh may blame BJP, NDA or other opposition parties for the failure of government , may promise for uncalled for reservation quota for Muslims or Dalits, may waive loans of farmers to the tune of billions of rupees, may torture Team Anna or Ramdeo and their followers but cannot change the perception of common men for long. Anger of common men against anti people attitude of the government is visible to all.

RBI fails to stop Inflation

2011-05-04T20:00:00.000-07:00

RBI has announced change in repo rate and savings interest rate to control inflation and to cure sick economy. Such changes have been announced 10 times during last twelve months by RBI and still the growing sickness in the economy and hollow nature of proclaimed growth in GDP is a matter of concern for all right thinking persons and groups. As a matter of fact RBI and Ministry of Finance are simply reversing the wrong stimulating steps taken by them in the year 2008 to counter or to mitigate the adverse effects of so called global recession. As long as human being sitting at responsible posts are corrupt , all policies framed for developments fails on the ground.

Air India is charging airfare higher than private airline though quality of service extended by private airlines is far better than that of Indian airlines. Still survival of Indian Airlines is at stake because they are to incur losses in the tune of thousands of crores of rupees. Pilot officers are on strike for last 8 days despite court order against strike.

Similarly BSNL is enjoying all special privileges compared to private telecoms providers but BSNL is running in losses in hundreds and thousands of crores of rupees. Payment to employees in government sector may be higher or lower than private sector telecom providers but the services of private sector are invariably better.

Similarly government run banks are though showing profits, they are rated inferior by customers because of their inferior service. Government has to infuse capital year after year to weak banks, give relaxation in provisioning and disallow considerable hike in salary once in five years. Bank management in government sector are not in a position to make adequate provision for their retired employees to pay pension. These public sector banks have to conceal bad assets in lacs of crores of rupees because bribe led lending made by corrupt top officials goes bad in a year or two of lending. Bank employees have to work twelve hours a day violating all labour laws because banks are not in a position to allow fresh recruitment even to replace retired employees.

Position of Coal India, Steel Authority of India and many public sector undertaking is not that much good as they should be. There is large scale loot in all the departments. Politicians are looting them to such a large extent that their survival is at stake.

Such is the pathetic position of almost all government sector departments, public sector undertaking except a few Navratnas. Even navratna companies are showing symptoms of deterioration due to large scale misuse of them by dirty politicians.

It is perturbing that all such loot is possible and persisting and growing year after year under the umbrella of policy of reformation, liberalization and globalization. All talk of GDP growth or inflation control by learned Prime Minister Mr. Manmohan Singh PM therefore looks absurd.

Neither problems of unemployment are solved nor is poverty of poor eradicated during last two decades of reformation. Price rise is beyond control. Expenses on study, medical treatment and purchase of home have gone beyond the reach of common men. Only rich people, corrupt politicians and corrupt officers are real beneficiaries who constitute hardly 10 per cent of Indian population enjoys the fruits of so call reformation .Actually it is the loot and loot only which perpetuated, promoted and protected by corrupt officers and corrupt politicians for corrupt officers and corrupt politicians in the name of secularism and democratic principles.

Congress Party which has ruled for almost fifty years has masterminded all loots in all sectors. Even Prime Ministers present as well as past have accepted the bitter truth that level of corruption in India crossed limit of tolerance of common men. But there is none in India who hold power serious to look into problems and pain of corruption faced by common men. Congress party blames BJP for all misdeeds.

Congress party in the name of secularism and parliamentary democracy is allowing all evil works to political workers of congress party and officers who indirectly support the chain of evil works. Time of Parliament and State Assemblies are spoilt in mutual mug slinging by elected representatives or for mutual gain or in playing mutual blame gain without doing any work to pain of common m mitigate public hardship .

Now only silver lining is that Anna Hazare has taken initiative to create a fear among evil doers. At least some debate and discussion on rampant corruption has been ignited by team of Anna Hazare. Let us see how far their pious movement succeeds in real life.

God bless Anna Hazare and him team.

www.callforjustice.in

2011-02-10T16:12:00.000-08:00

A high-powered committee, constituted by RBI last year under the Chairmanship of former Sebi chief M Damodaran, is likely to soon submit its recommendations to the central bank on required changes in existing policy framework and prevalent practices of customer service in banks.

The Reserve Bank of India (RBI) may soon tighten its noose on banks lacking on customer service front by a new set of rules, which could include hefty penalties and other remedial measures to guard against such lapses.

RBI desires improvement in customer service. Damodaran committee has submitted report by collecting opinions of CMD or ED of a few banks that too sitting in a AC room. But in my view no improvement may take place until there is a change in attitude of field functionaries, front like workers and officers who are monitoring the operations of the branches. As a matter of fact employees in banks are the most neglected sector. Practically there is no effective policy for Human Resource Development through there is a name board for HRD in all administrative offices. There are a few officers who are looking into routine matters of sanction of leave, LTC, training etc. But no efforts are ever taken to award the real workers to create an environment which motivates honest and devoted workers, which may award an officer whose image among customers is the best, which may award an officer whose lending is safe and secure. On the contrary all actions of higher officials demonstrate that flatterers are the choice of big bosses.

Higher management in PSU banks or the officials of RBI or that of banking division or the Ministry of Finance in government of India always talk of health of bank, health of loan assets, and quality of customer service but never talk on Human Resource. They have never tried to assess and ascertain whether employees who are working in various branches are really enthusiastic to show excellent performance. Fact is that everybody who is interested to move fast in career in busy in keeping immediate boss happy or to keep his godfather at higher offices happy, not by work performance but by offering costly gifts and by extending red carpet welcome to visiting officials. Such flatterers manage costly gifts not by spending from their own pocket but by instructing to their valued customers to manage gifts for bosses.
When customers spend lacs and crores on providing gifts to bank officials, bank management should never expect quality financing from Branch officials. As such quality of assets shown in their balance sheet would never be safe and sound.

Similarly Customers service is good for those customers who spend huge money on bank employees and on officers who visit branches from higher offices and on officers who are number one flatterers of higher officials. Flattery is the key to success in promotion or to get choice posting. Customer service or quality of asset is totally irrelevant. Most of senior employees, hard workers, honest performers and devoted officers are frustrated and demotivated and passing through depression or various diseases. They are neither given annual increment nor treated fit for promotion. Juniors are selected for higher post at the cost of dignity of seniors. Obviously when there is no self respect for working officials there is no interest left in the mind of good worker toward quality of customer service or the quality of loan assets created by bank loans.

RBI has never tried to assess why banks are directly recruiting officers in higher scales and createing frustration among existing senior, experienced and talent officers and clerical staff. Why in the name of marketing banks are spending crores of rupees on MBAs who know nothing about banking? I therefore without any hesitation say that selection of CMD. ED.of a bank is defective which promotes not honesty or work culture only flattery and bribe culture. In such position Damodaran committee report on improvement of customer service will prove futile and ineffective just like other committee reports.

Only happy servant can extend good customer service. It is foolish to imagine of improvement in service when serving employees are not inclined to do so. Ten men can pull a horse forcefully to a pond but cannot force horse to drink water. In Private sector, the more an employee is old, the more he is treated as loyal, reliable and trustworthy. Senior employees in private sector are highly respected and treated as good as owner. But in public sector banks, importance of an employee especially in officer cadre increases not by dint of work or seniority but by dint of flattery, gifts and bribe only.

There is a guideline in every bank that bank employees will work not only for the satisfaction of customers but also for delightment of customers. Several top officers preach such sermons during their visits to branches or during training programme.Why do they not consider delightment of their employees who are the real servers of the customers and who are as good as customers for top management.
It is worthwhile to mention here that in the recent past RBI governor and CMD s of various banks gathered in Ranchi for activating financial inclusion. The amount spent on extending hospitality to RBI governor and CMD of various banks was much higher than what was actually spent for the sake of Financial Inclusion of poor villagers. A few villages are adopted or a few girl children are adopted by these high profile dignitaries just to gather popularity and win the favour of Ministry of Finance. Actual work done during last 40 years of banking for the welfare of poor villagers and poor farmers is dismal compared to what has been spent in the name of social welfare, social banking, service area approach or financial inclusion .Similarly customer service in banks has not improved in Public sector banks during last 40 years of nationalization though several rules have been framed and numerous guidelines have been issued by RBI in this regard. Only attractive banners, hoardings, slogans, boards are used in banks as in other offices of the government to show that bankers or government officers are ready to serve the people .To preach the sermon is easier than to follow the same.

www.callforjustice.in

Onion Price

2010-12-22T17:20:00.001-08:00

Every quarter government of India extends the time for inflation to come down or for relaxation in price rise. On the contrary prices have been going up and up, it may be in case of onion or rice or wheat or pulses or fuel or any eatable goods. Government has completely failed to check and monitor prices of essential commodities .It may be rather said that government has failed in all fronts in general and in prices of all commodities in particular.

In the name of reformation government has given unregulated freedom to trading community, to industrialists and to all service providers. This is why large scale hoarding and profit making have been taking place in all sphere of life and for all goods which are demanded by a large section of society and a handful of businessmen in every town are getting success all the time in raising the price of goods which are of common use as per their whims and fancies. These businessmen have support and backing of all administrative officers and Ministers.

Rich person who has capacity to hoard an item in huge quantity can artificially create crisis, generate demand and raise price to any extent. Administrative officers who are supposed to look into market movement and quality of goods are busy in minting money through illegal sources. Politicians are busy in vote bank politics and in accumulating wealth for next hundred elections and for their tens of coming generation. This is why only promises are made by Ministers, administrative officers and leaders of the country for control on prices or on matters of scams but in real field prices are always unbridled, corruption is invariably rising and in fact nothing is in control of the government , willingly or unwillingly. Level of corruption has gone up from a few lacs of Natwarlal in seventies to a few lac crores in 21st century.

Even the price of Gold and Silver has been going up and up only because of unprecedented purchases by rich persons of the country to get rid of several complication of keeping money in bank or in investing in shares or real estate. In our country ,commodities like potato, onion, rice, wheat, pulses may be costly and scarce commodity items .House, water and electricity may be scarce commodity but gold and silver may not be in shortage because these are sold through hundred of shops , banks, brokers, financial institutions, share market and all where . Sellers of gold silver, diamond and ornaments are more in a town than sellers of essential goods. This indicates widening gap between the riches and the poor.

Politicians like Manmohan Singh or Ahuliwalia or Pranab Mukherjee play in the hands of a few secretaries who provide data on inflations and who provide market reports. These high profile economists always talk of GDP growth which is calculated by adding activities of only rich people. GDP growth does not account for poverty of 95% of population of the country , GDP does not tell about purchasing capacity of the common men and GDP does not tell about whether price of any goods and services are reasonable or not. Ministers always talk of inflation but always fail to keep the same in reasonable limit. They have numerous excuses for their failures in achieving the desired target. They do not perform and find out excuses for their non performance very easily. Global recession, draught, flood, unfavouable monsoon, political disturbances, and failure of state governments etc are a few permanent excuses to save the skin of politicians from common men and media men.

Ministers and high rank officers wonder therefore in dreamland and always befool innocent citizens of the country. People are suffering continuously due to rising prices, increasing unemployment and unprecedented level of corruption. This is why for last two years prices have gone up by 100 to 500% and government appears completely helpless in controlling the same. In one week prices of onion gone up by 500% and in last five years of UPA rules prices of land and houses have gone up by 100 to 1000%
23.12.2010

Onion Price

2010-12-22T17:20:00.000-08:00

Next Prime Minister is Rahul Gandhi

2010-11-20T20:12:00.000-08:00

Why Manmohan Singh is suggesting young leaders like Rahul Gandhi to lead the country?

Manmohan Singh is now fed up with Indian politics and especially with the team of politicians which he is leading. He realizes very well that he has failed on all fronts. Politically Mr. Singh has been always treated as weak politician and it is open secret that Ms Sonia Gandhi controls Mr. Singh in all matters. Nowadays even Mr. Rahul Gandhi has started giving indirect lessons to learned Doctor Manmohan Singh. Other old congressmen take advantage of his weakness and think it wise to indulge in flattery so that they may continue to remain and hold powerful post which enables them to earn and accumulate wealth to unlimited extent. Flattery and culture of precious gift in our country (elements of corruption) have the power to make all impossible tasks as possible.

Economics propagated by Mr. Manmohan Singh in 1991 is going to be proved as great failure. People in general have understood the deficiencies and demerits of free economy as spearheaded by developed countries like USA in nineties and launched in India since 1991 under the leadership of late P V Narsimha Rao, the then Prime Minister of India and the then Finance Minister Mr. Manmohan Singh. Even the nations which pioneered free economy have now started taking steps to regulate their economy tightly, restricting freedom given to businessmen and adopting policies of socialism or communism or policies termed as protectionism. Policy of unrestricted freedom and that of full deregulation of economy and that of disinvestment, have caused irreparable damage to common men in our country too because these policies have resulted in intolerable price rise and widening gap between the rich and the poor. This has happened only because of unrestricted freedom given to manufacturers, traders and service providers.

Country is more or less now in the hands of capitalists and terrorists. Capitalists are dictating the terms to the government to earn more and more profit because it is they who help politicians in election and in survival of the government. Terrorists dictate the term because they blackmail the leaders who are mostly corrupt, they dictate the terms to the government because they use poor population of the country as shield and to justify their terrorism, because they are mentors and saviors of so many politicians of all the political parties. More over terrorists are growing financially stronger and stronger due to the fact they collect dadagiri tax from all segment of citizen in the country. Terrorists have got success in growing their network and their power to threaten and blackmail the prominent leaders because they are also supported and sponsored by enemy country like Pakistan. Manmohan Singh has failed to bring peace in Kashmir and failed to stop infiltrations. As such Manmohan Singh is not satisfied with his own performance on the issue of relation with neighboring countries also.

On the matter of administration, everyone knows that though Mr. Manmohan Singh is himself a clean and honest person. But being the head of the country he has failed to perform his duty of controlling and minimizing rampant corruption prevalent in all offices and departments of government. Common men under his regime cannot expect earning minimum bread and butter, education, electricity, minimum health care and at least justice from any court in acceptable short period. When Mr. Manmohan Singh became for the first time as Prime Minister of the country people of India had great expectation from him .unfortunately Mr. Singh has belied the hopes of common men on the issue of clean administration, safety and security, equitable and well distributed growth and foreign relation as defined by Nehru and Indira Gandhi in the name of Non alignment.

This is why now Mr. Manmohan Singh has himself expressed that Rahul Gandhi like young leader should lead the country. This is another example of flattery. In a vast country like India with 110 crore population Mr. Manmohan Singh could see only Rahul Gandhi as the young and fit person to lead the country. There are several politicians in his own congress party who are young and talented too to lead the country, not to speak of young leaders of other parties who too have desire to become Prime Minister of the country. Though India is a democratic country, fruits of democracy are available only to those politicians and officials who are connected directly or indirectly to powerful lobby in politics or in administration.
Danendra Jain

21.11.2010

Powerful Pawar cause of concern for PM

2010-08-31T17:43:00.000-07:00

Sharad Pawar Agriculture Minister is another weak element in UPA after Shiv Raj Patil, previous home minister of the country.Mr. Pawar has failed on all fronts. Not only Growth in Agriculture is unsatisfactory, even management of cricket board is dubious and always disputed.

Now it is the turn of Sharad Pawar to become President of India or at least nominated as Governor of any state in unison with tradition of Congress Party which is to award inefficient senior or corrupt party men with the post of Governor or head of any PSU or director in any PSB.

Government unnecessarily blames global recession or monsoon for ongoing unabated price rise, but actually it is due to mismanagement and complete negligence on the part of officers and lack of monitoring by Ministry. Food grains are allowed to rot in open or stored without enough safety measure in godowns whereas poor person in particular starve and common men in general have to pay higher price for all essential commodity.

Why serious actions against guilty and inefficient officers are not taken without delay to convince Supreme Court that government is serious on execution of Court order. And at least PM should change the Minister without the fear of repercussion from Sharad Pawar’s party (NCP) or for survival of government in Maharashtra.

Is it not shame for the government that Apex court has to pass strictures against ruling government or pass an order on any issue?

It is ridiculous as also shameful that the concerned Minister still talk of ‘suggestion’ during debate in Parliament instead of understanding that Apex court has clearly given an order to comply with. Entire media has been consistently criticizing role of Mr. Pawar and people of India in general condemn such minister but our PM like Manmohan Singh prefers to be silent spectator till the matter goes beyond control.

We have seen the same fate of Common Wealth Game and we will face the bad effects of spread of naxalism or terrorism or mismanagement in banks and PSUs very soon.

After all why does PM so much inertness? Common men cannot be happy with daily but empty talk of GDP growth in the corridors of economist or India doing better even during the period of global recession.
Dkjain49709@rediffmail.com
Danendra Jain
01.09.2010

People of India and painful problems

2010-08-10T17:38:00.000-07:00

Prime Minister of India Sri Manmohan Singh is honest , simple and with clean image but is not active and effective as people of India expect from him. It may be the issue of price rise, corruption or lack of basic amenities infra structure for common men or the threat of naxalism and terrorism to common men. He talks of only GDP growth which means Garibi Development Programme. Rich people are growing richer. He gives relief of Interest to Industrialists and real estate developers but do not think it wise to care for senior citizens whose survival depends on interest income. I like to pinpoint following national issues.

State level inertness or ineffective central government or anger of God has made te situation a point of concern for all ministers in Government.

Kashmir: Curfew continues for last fifteen days due to violent agitation and uncontrollable destruction of property carried out by Kashmiri militants instigated by Pakistani terrorist. Kasmir is boiling and people are facing war like situation but PM is talking of peace since he took the charge of PM

Kolkata West Bengal: Naxalites attacks trains and local inhabitants. Mamta organised rally at Lalgarh along wit naxals and she without any hesitation is putting pressure on central government to stop Green hunt operation launched by P Chidambram Home Minister merely to disturb West Bengal Government.

Chhatishgarh : Naxals attacks frequently on CRPF jawans and kills hundreds of them in Dantewara.

Ahmadabad in Gujrat and Badmer in Rajasthan: Nature is destroying property worth hundreds of crores of rupees and giving trouble to lacs of residents and bent upon destroying property worth crores of rupees in Ahmadabad and other towns by way of flood. But action for giving relief is very low from te side of government.

Madhya Pradesh and Gujarat: IAS officers are trapped by CBI and Anti Corruption Bureau who were found to possess property worth hundreds of crores of rupees and government is not in a position to punish even IAS officers and IPS officers. There are more than 150 officers and more than 100 bank executives and a good number of PSU heads cases of corruption pending for investigation and punishment with CBI either in want of enough manpower to pursue the case expeditiously or under pressure of VIPs of government.

Bihar: CM is accused of involved in misuse of development fund worth 11000 crores. Train dacoity and misbehave with passengers have become a common feature. Frequent train accident due to negligence is a matter of concern.

Jharkhand: Madhu Koda trapped in playing with government fund involving hundred of crores of rupees. Frequent bunds called by naxal organizations have fully disturbed and paralyzed normal life in the state of Jharkhand, Orrisa, West Bengal and Andhra Pradesh.

Karnataka: Reddy brothers are accused of indulged in illegal mining causing loss of hundreds of crores of rupees to government of Andhra Pradesh.

Kerala : Church and CPM are crying against each other.

Delhi: Suresh Kalmadi playing Corrupt Wealth Game allegedly causing loss of thousands of crores of rupees to government. National pride and national image is getting tarnished in International forum. India is likely to acquire number one position among list of most corrupt nations of the world. Magnitude of corruption is in no case less than annual March Mahaloot occurring in the country in every state.

Uttar Pradesh: Food grain worth crores of rupees damaged in want of proper storage facilities to store food grain items procured by farmers.

Madras Tamilnadu: Indian Bank Association in collusion with union leaders cheated PF optees of PSU banks by signing discriminatory and illegal 9th Bipartite Settlement with union leaders of bank. Madras High court stayed the recovery from PF optees but IBA is bent upon making recovery without giving offer for pension to eligible PF optees as per settlement.

Mumbai Maharashtra: Two big ships collided in Arabian Sea and there is fear of hundreds of oil tankers drawn into see and cause loss to environment, loss of sea birds and poisoning of water. No steps appear to have been taken to stop damage.

Leh : Cloud burst kills hundreds of person and destroys property worth crores of rupees.

National Issues causing concern in India: Common men in the entire country are facing pain of unbridled and unabated price rise in all essential commodities. And government of India is finding it difficult to control the same. Mutual blame game between state government and central government continues since long and people of India are silently bearing the brunt of price rise.

Corruption in centrally sponsored programme namely NREGA has beaten all past record of corruption.

Lacs of cases are pending in various courts in India in want of enough manpower, adequate infra structure and required number of judges. Judicial reform promised by various governments during last two decades is not moving in right direction of achieving the desired success

Education reforms promised and propagated by Kapil Sibal are yet to see rays of success and there is remote possibility of getting any considerable any reformation in education system. Tuition fee charges by schools, colleges, medical colleges and engineering institutes are still beyond the rich of common men.

Quantum of Non Performing Assets in banks is growing rapidly because there is no full proof method of recovering money from willful defaulters. Bank managements therefore hide NPAs to show higher profit. This has taken the shape of incurable cancer

Indian borders are still not having watertight security and due to this infiltration of terrorists in India from across the border continues unabated. Buses going outside India or vehicles plying in border areas are prone to security lapses due to negligent attitude of customer officials entrusted with the duty of checking the passengers..

Labour laws are yet to be reformed. Discrimination in various fields continues unabated.

Adulteration in food grain items is increasing rapidly, fake drugs and medicines are in circulation, fake notes are coming in market in large quantity, accidents are increasing, crime is increasing but police is still inactive and criminal friendly.

It is pity that above mentioned problems are not taken as a problem by government. MPs and MLAs are playing Kabaddi in Parliament and state Assemblies. Various parties are indulged in mutual blame game and they focus on strategy to win the election and not to give relief to common men.

Joint Straegy to befool voters

2010-08-03T17:25:00.001-07:00

Voting or not voting is politically motivated exercise. Common men wants fall in prices of essential commodities and nothing else. Entire discussion in Parliament which took place yesterday i.e. on 2nd of August 2010 on he issue of price rise in disguise of inflationary pressure and is adverse impact on common men was nothing but a well planned mutual blame game to show voters that they are actively thinking for common men.

Opposition parties accused congress of unabated price rise whereas Congress led UPA spokesmen justified the price rise saying that price rise was more during the regime of BJP led NDA government. Congress leaders told that it is the duty of state government to control price rise. They further told that prices of fuels are still lower than rates prevailing in many other countries.

Obviously ruling party has made it clear directly or indirectly that either price rise propaganda created by opposition parties is false and ill motivated or it is the duty of state government to check rise in prices. Ruling party further submitted that NDA government made changes in essential commodities act, launched commodity trading and made the laws traders friendly. During last six years of rule Congress party willfully perhaps did not change the rule only to prove the mistake of NDA government on the floor of the house.

UPA obviously did not take any step to remove hurdles from the path which obstructed and came in way leading to control on rising prices. Of course they will take some corrective steps on the eve of election to please voters at that time. If prices of sugar rises from Rs.15 to Rs 75 per kg during this period and on the eve of next election if price of sugar is brought down to Rs.70/ per kg voters will feel more pleasure and elevated, This diplomacy is nothing new under Congress rule. Even late Indira Gandhi used this tact to ensure success in election keeping business community happy and at the same time to ensure uninterrupted flow of money in party’s account..

Let common men die, starve or face mal nutrition due to rise in adulteration. Congress government nowhere expressed its pain and sympathy for common men. If there is no problem in the eye of ruling party, no solution can be expected from them. Now it is the duty of opposition parties to chalk out their new strategy or to keep calm.

Common men has to remain satisfied by news of discussion on their problem in Parliament or by watching the diplomatic debate on TV which took place in Parliament and which was undertaken to please he common men. A few more bazar bund or gherao of Parliament or arsoning at some places in protest against price rise may perhaps give pleasure to voters.

After all what a poor voter can do?

He has to bear with the system willingly or unwillingly, happily or unhappily, laughing or weeping. Media will also make hue and cry but nothing will happen till next election comes closer.

Danendra Jain
Dkjain49709@rediffmail.com
04.08.2010

Inflation Exploitaion and Regulators

2010-07-31T23:06:00.001-07:00

There is practically no stagnation for central government employees as per last pay commission recommendation and as accepted by government of India. Why is there stagnation for bank employees particularly when bank is not in a position to accommodate so many candidates in higher scale, when there are fewer vacancies?

For none of fault of senior officers they are denied even annual increment.

When banks do not find such senior officers for promotions, bank should not hesitate in accepting resignation of such officers and allow full pension and retirement benefits. Why officers who resign are not allowed pension, leave encashment or refund of accumulated bank's contribution in PF etc. Bank can remove an officer as per its choice but staff cannot leave the job without loosing his rightful terminal benefits.

Officers who have transferred from outside states to North East States were getting so many incentives as per 1984 circular or as guidelines of IBA as prevalent for central government employees working in other sectors in eighties. Why these incentives have not been revised during last 25 years?

Special allowance fixed Rs.1200/ or Rs.1500/ for specified area is common for all staff posted in North East region. What about additional benefits for those who are transferred from other states to North East?

For outsiders, there was a provision of Rs.1500. p.m. in 1984 when Rs.1500/ was a significant amount compared to prevailing scale of pay for officers at that time. Now even that Rs.1500/ (it should be at least 10000 in view of price rise and scale rise during last 25 years) or 12.5% of pay has been abolished.

Originally North East posting policy was framed for enthusing employees to serve in north eastern based branches for two years and then they were given preferred posting. Unfortunately this holy policy is now misused by greedy and corrupt executives to sideline good officers from their path of earning illegal money and golden gifts.
Incentives also snatched. Preferred posting after completion of two years tenure also lies on the mercy of top officials. There is no shame feeling in the mind of ED or top executives in violating the existing policy or misusing the same in the name of bank’s exigencies.
After all what union leaders are doing?

There are lacs of bank employees who are continuously working in rural areas for one or two decades or even more. On the other hand there a few lacs of bank employees who are continuously posted in Metros and Urban areas. Unfortunately residual a few of employees are facing frequent transfers from one corner to the other corner of the country.

After all what union leaders are doing?

Answer is that they are also standing in the same que in which a team of flatterers are standing to get maximum benefit from higher bosses, cream posting, reckless earning through credit lending or waiver of loan without any fear of action from higher bosses and get preferred promotions for their flatterer members if they so like.

Why huge arrear to the amount of two lacs or three or four lacs are being paid to executives as per 9th Bipartite Settlement and only a few thousand to middle management officers considered senior officers. Even peons and junior clerks are getting arrear to the extent of one lac rupees. Pension optees are getting more. Why discriminatory treatment allowed by union leaders even in fixation f revised pay in 9th BS, not to speak of discrimination with PF optees desiring to offer for pension.

If there is a will there is a way. When government is formed of corrupt persons and that of flatterers, when administration is manned by corrupt and flatterers when judiciary is weak, ineffective, costly and centre of corruption, any one in Government cannot dream of taking step to reduce corruption in the system or to punish corrupt people.

And people who try to move against the main stream gets tired very soon and finally succumb to death.

It is therefore better to say All is Well sir, No problem sir, everything will be o.k. sir, I am there don't worry, I will manage it, I will manage media people, I will manage CBI people and so on. These wordings are a few permanent wording of flatterers.

Media is also in grip of these corrupt elements because media people also like to have more and more money, more and more asset, more and more recognition in time in shortest period as people in other field like. If some one watches various interviews conducted by TV people, he will definitely observe how ruling party biased questions are asked by media men. I have seen during recent past how media men are trying to divide opposition unity in their fight against price in Parliament. Media men in general try to save the VIPs of ruling party somehow or the other. They always try to divert the main topic of national concern to pseudo secularism or inter party rivalry prevailing at regional level among smaller parties. As such media men are not getting any interest in the reign of injustice pervading and prevailing in banking industry. A few executives by using their mobile phones using some flatterer Branch Managers to extend credit to unscrupulous borrowers and sacrificing huge amount in compromise and waiver of loan scheme just to earn some illegal money. Banks assets worth thousands and thousand of crores of rupees are locked and lost in bad borrowers every year whereas government of India, RBI and all regulating agencies remain silent spectators. People have seen how NPA rose 500% this year in Indian Bank but regulating agencies are not ready to accept that similar pain will occur to other banks too in near future. There is in fact none to bell the cat.

Inflations workers and employers

2010-05-20T17:27:00.001-07:00

Government framed policy for posting of bank employees in Villages as also for posting in North Eastern States to promote rural banking and to help development work in rural areas and North Eastern states. But management of banks have always misused this excellent policy to discard non-flatterers and to torture those employees who do not indulge in corrupt practices and who do not implements bad orders of the executives.
RBI or any investigating agency on honest inquiry will find that some officers have been working in villages for two or three decades whereas flatterers of the top officials of the management have been allowed to work in Metros for decades together. When an officer do not provide gifts to General Manager, he is posted in North Eastern States on the plea of Non Performance whereas those who commit fraud or indulge in irregular credits but always provide golden gifts to GMs, DGMs, AGMs in the name of some function either of inauguration or customer’s meeting are allowed to remain in big towns.
Some officers are simply creating bad advances and some others are constrained to recover the bad advances merely to save the corrupt officers from punishment. This is why loans or advances become Sub Standard in one or two years of its disbursement. It is also a bitter fact that such bad advances are concealed by gifting Auditors and inspectors and treated as good advances till the sanctioning officer wither is promoted or get safe exit from the bank. Honest workers are made scapegoat for the misdeeds of big executives.. It is undeniably truth that excellent results exhibited through annual balance sheets are due to devoted work of good performers and it is they who are salvaging banks from the misdeeds of bad officers. As such shining balance sheet of a bank should not give conclusion that the results shown are hard work of top officials sitting in AC rooms but that of field workers who are head of a branch and who is doing hard worker even under acute manpower shortage. In banks manpower is adequately provided only to flatterers even if he has caused banks crores of rupees. Until RBI or CBI catch hold of corrupt executives and punish the evil performers and at the same time award those officers who have been whimsically kept away from promotions and unless good officers are given respectable posting and promotions one cannot imagine of any rise in intrinsic value of any bank
On the contrary PSU banks are facing erosion in intrinsic value due to dirty implementation of apparently good HRD policies. In the name of Interview any employee can be deprived of and denied of promotion. Power makes executive corrupt if the decisions made by them are not transparent and subject to review. Root cause of persistence and promotion of such corrupt officers is due to the bitter fact that even courts fail to provide justice in decades together and this is why management bosses indulge in whimsical promotions, arbitrary transfers and postings.
I request bank officers to send their personal experience and story of corrupt officers to me at dkjain49709@rediffmail.com so that such illustration may be incorporated in PIL to be filed in the court. These information will be helpful in seeking information from bank under Right to Information Act to expose the true colour of officers who have been holding top posts in the bank and who have been getting continuous shelter from Banking division, RBI and Ministry of Finance. The aggrieved officer may also send the real story about them, how they have been cheated by their bosses, how they have been denied promotion and how they have been given always critical posting. After all how long you will bear with injustice in fear of repercussion from higher authorities. One has to come out of imaginary fear and expose the true picture of bad officers. How long meritorious and talented officer will face humiliation and posting against their dignity.
I will come with name of AGM,DGM ,GM,CM and BM and tell the officer community and Government of India how reign of injustice prevails in the banking industry. I need your cooperation in making a strong case against some of CMDs who are recognized as star performers but under the shelter of such CMDs ,their left and right hand officers who themselves are facing CBI charge sheets are exploiting power for self interest.

Controlling Tax officers is more important

2010-04-04T20:03:00.000-07:00

It is reported in prominent newspaper today that tax dues from tax evaders has been increasing year after year and due to some reason or the other has mounted to Rs.198508 crores, say two lac crores rupees as on 30.09.2009. Out of this Rs.133232 crores pertain to corporate sector and Rs.65274 crores from individuals. Department of revenue, the Central Board of Direct Taxes has proposed punishment of rigorous imprisonment from three to seven years for such tax evaders, who conceal their income, who do not file income tax returns, who violates anti money laundering act, or who do not deduct TDS or do not deposit tax deducted at source in time..

This is indeed a very good proposal .I however feel that CTBT should start this holy task by launching searching and investigating process in respect of all officers and babus working in Income tax department and various Ministries of Central government. Charity and good work should begin from home. In the second round big fishes involving tax evasion of rupees ten lacs and more may be trapped, then politicians having houses, apartments, colleges, factories worth more than a crore rupee may be caught and so on.

When top level ministers, IT officers , IT commissioners, CBI personnels,vigilance officers and officers involved in scrutiny of files, searching, assessing and investigating processes are honest , there is no doubt that the same culture will percolate down the level and this message will spread like epidemic in entire country and people of India will never dare opt for tax evasion. It is a bitter truth and undeniable fact that all types of tax evasions are taught by none other than IT babus and officers either directly or middlemen called as IT consultants. There is clear nexus between tax assessing authorities and businessmen and all tax files involving big individuals and corporate. As soon as Income tax payer agrees to quantum of bribe or commission set by IT officers are given in an envelope, file gets clearance from tax officers. This corrupt practice causes loss many times more than existing tax dues revealed herein above to government.

It is unfortunate that honest tax payers in India are never awarded, respected and given preferred treatment, but more often than not harassed and unnecessarily tortured by corrupt IT babus and corrupt officers of Income tax departments because such honest tax payers do not easily agree to give bribe to the department .It is also true that in our country even IT officers do not get promotions and good posting as long as he or she do not fill the pocket of Ministers and top officials of Ministry of concerned department. Such practice is all offices of government, all banks and all departments where government is having control. Merit is seldom respected, but corrupt officers are more often than not awarded. When the Ganga flowing from top is poisoned and polluted one cannot dream of pure water at ground level. .

This is why I have to suggest to Government and CTBT to launch attack first on those officers who are originators, perpetuators and irrigators of corruption and immediately stop financial terrorism let loose by tax authorities .If we start giving respect to honest tax payers and punishing corrupt government officers honestly, sincerely, quickly and without any based attitude there will be great improvement in the prevailing culture and people of prefer paying tax than opting for tax evasion. There are enough laws in existing law books to penalize the guilty if there is will to do so. There is no need to frame tougher rule in this regard. India needs strong will of execution of rules truly and in good spirit

India should learn to award honest officers and stop giving preference to officers who flatter and who earn through unfair means and give share to seniors. Public opinion should be sought to assess honesty and integrity of an officers. Formal certificate of honesty and integrity as prevalent in the system is nothing but a formality. Truth and reality of Indian system is known to all Indians. As such proposed rigorous imprisonment should commence from corrupt IT officials and corrupt ministers sitting at the top post and who are root cause of all evils. Tax payers deserve praise, respect and honour because they are backbone of Indian economy.

Danendra Jain
Ganaraj Chumuhani Agartala 799001
05.04.2010

RBI Governor

2010-03-31T18:10:00.001-07:00

Is Female dominated by male in Indian society?

The society is dominated by money power and muscle power and not by male, might is right. Everyone worship who is powerful, gender is irrelevant. In the state of Tamilnadu Jayalalitha is worshipped like goddess. Mayawati is treated as Devi in UP. Indira was treated as India. Even Sonia is followed like Devi. Many Congress leaders are ready to touch her feet to get some good post, respectable birth in cabinet, get a ticket for election etc. Every male member loves his sister, wife, and mother more than his brother, father or anyone else. In many offices lady worker has played effective role. Bank like ICICI is headed by lady Kochar. Indian bank was headed by lady chairman who changed the fate of Indian bank. I therefore do not agree with the saying that lady in India is dominated by male member. There are several males who do not work, who are addict of bad habits, and who are totally incompetent try to dominate forcefully on female .they are few. It will not be an exaggeration if one say that in practice and in real life of a good family, male are dominated by female, not due to any pressure but due to mutual love and respect.

Why Indian depends on USA for all matters related to Pakistan? Can Indian alone not tackle Pakistan?.

This is the great weakness of Indian diplomacy. In the past India used to blindly support USSR and now blindly follow USA. Inspite of all India's image is good in International arena. Even USA considers India as a probable threat in future. USA uses Pakistan as a tool to weaken India to maintain dominance of USA. However India has built the capacity to teach Pakistan lesson and damage it if needed. But in war, loss occurs to both parties. Even Pakistan has developed substantial energy to spoil many parts of India. As such war is enemy of human being, causes loss to warring countries, more or less it may be, loss is loss. All efforts are therefore by peace loving country India to resolve the issue with dialogue or with pressure from super powers of the world as we all peace loving people in India use to do to resolve family or social disputes through dialogue and through intervention of some effective person of the area. . Indian people always condemn terrorism and naxalism. All religions advise for love and mutual respect.

Why people do not revolt against corruption?

There is no revolt against corrupt system because most of the people are corrupt. All are sitting in glass house. Who can dare throwing stone on others? Number of person not accepting or giving illegal money, gifts and favour of any kind are very limited and hence not powerful and not that much effective which can produce a wave of revolt against rampant corruption in the system. India needs person like Gandhi who shook the castle of British rule and gave India freedom. Jai Prakash Narayan tried to punish the corrupt public representative but failed to stop greedy followers who punctured his movement to serve their vested self interest. India needs person like Netaji Subhash Bose or Sardar Ballabh Bhai Patel. We have Manmohan and microscopically few other simple people full of honesty who follows Lady Sonia to safeguard his post or who prefer remaining a silent spectator of rape of democracy and prevalent corruption in Indian system. As such people have more or less accepted corrupt practices as normal practices. .

What should an employee do when he or she is harassed by his boss or CEO?

Days are gone when labour laws were respected by government. Now-a-days even labour offices, government departments, banks, insurance companies and all private companies are indulged in labour exploitation of labour. There is none to raise voice against it in the name of reformation. In near future we will reincarnation of socialism in some other name. Capitalism cannot last long. Gap between rich and poor is widening and as a result crime graph is going up and up, riches are indulged in profit making and hence price are going up and up. Ministers and officers, babus and even peons are indulged in earning illegal money. There is none to raise a voice against boss or CEO of any company who are forcing employees to work more than twelve hours a day and who have almost made the family life of employees miserable. Even if some voices are raised here and there, such people are isolated and shunted in critical and remote areas or removed from service. As such most of good workers have to lead a life in rejection, dejection, depression, frustration etc.

People suffer Politicians enjoy

2010-03-18T17:58:00.001-07:00

It will be foolish to expect anything from political leaders, even if he may be Rahul Gandhi or anyone else. It is seen in last month, how the budget exercise completely forgot common men. Entire government is for rich people, rich businessmen who share their income with political leaders and help them to win various election at various levels.

Government is of the rich people, for the rich people and by the rich people. Common men are treated as beggar and given alms like Rs.5oo or Rs400 as old age pension ,or 750 as unemployment stipend or Rs100 daily for 100 days under NREGA or some food items that too rotten under PDS, or free rotten meal to child in schools. Common men are gifted with quota on caste basis which serves dual purpose. Firstly leaders gain sympathy of voters and secondly it divides the society and makes it easy for leaders to rule.

So far as middle class people earning upto Rs.5.00 lacs a year are concerned they have also been given little tax rebate to compensate partly what these people had to incur loss due to unprecedented price rise. Common man cannot dream of this relief because they are non-taxpayers. They have to suffer the pain of price rise.

Rahul has also done nothing for poor men. He has learnt the tact to befool common men and has become expert in gaining sympathy of common men. So far as the last election is concerned, it was not at all a victory of Congress party; it was division of votes among other parties. Muslim and some backward caste votes in particular left congress party and scattered in BSP or SP or other regional parties.

As such winning ability of a candidate or a party depends on not what he or the party has done for common men but what and how did he interact with them and what they spoke in election rally.

Even in government offices and departments, it is not important what an employee performs, but it is more important how he flatters to boss. A Boss is one who speaks better and not who performs better. Officer in charge of a Police station is promoted because he is in good book of his boss; he is not rejected because he could not serve the common men.

Common men are very innocent; they prefer suffering in pain of price rise or bear the brunt of corrupt, biased and inactive administration. They are swayed away by pied pipers turned politicians who play their flutes during their rally and public meetings. Rahul and Sonia and speakers of Congress parties and they are least bothered of sufferings of common men.

This is why person like Pranab Mukherjee and Sharad Pawar beg excuses from Nation that they cannot reduce price, they cannot take action against hoarders, profit makers, black marketers because these person are helping Congress Party leaders and the party in election.

What can a young leader like Rahul do is a million dollar question? Rahul may be termed at best as a vote mobiliser for Congress Party.

As long as system of flattery continues in our country, we cannot dream of good result from any political leaders or government officers.

Danendra jain
Ganaraj choumuhani
Agartala
19th March 2010

Care for Common men

2010-02-26T19:37:00.000-08:00

Price Rise:::::::

With the rise of petrol and diesel prices there will be rise in bus fare, freight fare by trucks and indirectly prices of all commodities will rise due to rise in transportation cost. It is also true that when petrol or diesel prices go down there is no fall in prices. When ATS fuel prices rise airlines raises airfare but do not reduce the same when ATS cost comes down. Prices can be controlled only by conducting raids on traders, manufacturers and commodity brokers who are artificially raising prices.

There is no shortage of production and it is told by government many times and it is also known that government is proud of GDP growth in the country. Regulation of prices of all goods and services need to be done at all level but in the name of reformation administration is ignoring the same and has given full freedom to businessmen to earn maximum profit. http://in.linkedin.com/in/danendra

Subsidy:::::::::

Subsidies of all types are looted by fabricating relevant documents. It may be NREGA money or Industrial subsidy or fuel subsidy or fertilizer subsidy or export subsidy or subsidy under various loan schemes sponsored by government of India. There is large scale loot going on in one name or the other. When media traps one scheme they change the name and old wine in new bottle continues. Reign of corruption will never end until we adopt to some hard punitive action... http://in.linkedin.com/in/danendra

Income Tax relief:::::::::::::::::::

There is nothing substantial in budget other than a little bit compensatory relief ( price rise is almost 100% during last one year and when prices rises there is salary erosion at all levels. Even businessmen whose income is less than five lacs faced the pain of price rise)to salaried class people or person having income upto 8 lacs.

Large part of population constituting 80% of Indians who are having less than one lac as annual income will not get any relief but they will be forced to share burden likely to rise due to rise in fuel prices. Government which always talks of common men has left the common men on the mercy of traders and corrupt officers .http://in.linkedin.com/in/danendra

Housing Sector::::::::::::

1% interest concession has been allowed to those who avail loan upto Rs.10.00 lacs but service tax has been imposed at 10% on builders who take advance for booking a flat.. former will give a little bit relief but there will be at least ten times of this relief as rise in cost of flat.

Common men:;;;;;;;;;;;;;

Private companies have been allowed to set up local private banks in all towns and villages. Now these banks will exploit rural people as money lenders used to exploit them before nationalization of banks. On the one hand government is talking of consolidation of banks and on the other they do not hesitate in giving more and more licenses for private banks.

Even existing NBFC are beyond the control of the government and every year some NBFC close their offices and found to be absconding when poor and innocent depositors ask for payment as promised by them. Now government is trying to add fuel to fire by giving them permission to establish local banks.

Danendra Jain
Ganaraj Choumuhani Agartala 799001
27th Feb 2010

Stimulus is cause of Inflation

2010-02-20T08:57:00.001-08:00

I am not an economist, nor an expert in finance management of the government. I however try to project my feelings. Liquidity crisis or Sub Prime Crisis occurred in USA and other European countries. How did it affect Indian economy in the year 2008 which forced Indian Government to sanction stimulus package in line with what Obama did in USA.I am unable to understand it. Can anyone help me?

I came to know that since FII were withdrawing money from stock market, India’s economy has been shaken. It means our great miracle economy of the world depends on FII fund and survives due to FII fund.

Some intelligent persons tell that due to financial problems in USA, they had blocked payment of exports made by Indian businessmen. This resulted in liquidity crisis in many countries. Some says that export of goods has suffered a lot.

Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?

If not how did it result in liquidity crisis? When foreign countries stop import, real problem may arise in selling exportable goods in domestic market.

If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.

CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?

Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.

Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?

If domestic demand has not increased, how the said affected units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?

Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?

Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?

If it is true, government should admit that the current price rise is nothing but the making of the government.

Income of poor people did not rise but prices showed relentlessly rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.

Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.

Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.

If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.

If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.

Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.

It is ironical that the government which is talking of social inclusion to attract Indian voters is also talking of merger of banks or infusion of fresh capital into PSU banks to enable them to compete with global banks which caused crisis in USA and other countries. When they plead consolidation of banks in raising exposure limit of the banks they perhaps forget the interest of common men or the issue of social inclusion.

Can I conclude now that the fear of global recession in India was artificial and virtual and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?

Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009

Price rise and Stimulus Package

2010-02-18T07:30:00.000-08:00

I am not an economist, nor an expert in finance management of the government. I however try to project my feelings. Liquidity crisis or Sub Prime Crisis occurred in USA and other European countries. How did it affect Indian economy in the year 2008 which forced Indian Government to sanction stimulus package in line with what Obama did in USA.

Is it true that export proceeds of goods exported to USA or any other countries were stopped by importing countries?

If not how did it result in liquidity crisis? When foreign countries stops import , real problem may arise in selling exportable goods in domestic market.

If export proceeds were really stopped by importing nations like USA, government could have been justified in sanctioning financial package for such affected exporters or manufacturers, but not justified in allowing benefit to all.

CRR and SLR were reduced to release liquidity for banks. Is it justified to provide such liquidity (interest free fund) to all banks whether they were associated with affected exporters or manufacturers or not?

Even if it is considered that release of liquidity or relaxation in tax in general without discriminating the real victim of said sub prime crisis of USA was justified, the matter of vital concern is whether government has ensured that affected units have actually benefited in any way from the said stimulus package.

Has government ensured that domestic demand of exportable goods has been created to compensate loss caused due to stoppage of exports?

If domestic demand has not increased, how the said affects units have utilized the stimulus package and how they could maintain the same turnover as they used to exhibit through export proceeds?

Has government tried to ascertain the proportion of stimulus package released for banks used for growth of manufacturing or export sector and what proportion invested in MF or parked in RBI at Repo rate to earn interest or dividend?

Is it not true that excess of fund provided to business units, traders, manufacturers and exporters resulted in huge hoarding, black-marketing and abnormal profit making?

If it is true, government should admit that the current price rise is nothing but the making of the government.

Income of poor people did not rise but prices showed relentless rise and this resulted in considerable erosion in purchasing capacity of poor and middleclass families. As a result demand of the consumer goods at grass root level has sharply come down.

Had the government avoided stimulus package, the exportable goods could have come in the domestic price at reasonable price and demand could have gone up to a considerable height and the end result could have given a boost to manufacturers and traders.

Further the government could have used the fund released through stimulus package in carrying out additional public investment to create additional demand and additional employment opportunities.

If there is a little bit relevance in points raised by me I think government should not hesitate in withdrawing stimulus package in gradual and comfortable manner. This will help in combating inflation and ease the burden of poor to a good extent.

If liquidity from banks is withdrawn, banks will not invest in MF, will not park surplus fund in RBI to earn interest at repo rate and at least not opt for sub-PLR lending to corporate or to real estate sector which benefits none other than upper class of the society.

Banks will be forced to mobilize deposit at some higher rate which will benefit poor and middle class families and pensioners to a greater extent. If lending rate to corporate goes a little bit higher, if rate for housing loan or loan for car goes higher I am very much confident and the experience of pre-reformation era reaffirms my belief that sale of these luxurious goods will not come down and neither nay corporate sector will stop their activities on account of little rise in borrowing rates.

Can I conclude now that the fear of global recession in India was artificial and maintenance of growth rate achieved by dint of the said stimulus package is also imaginary, unreal and willful exaggerated to hide the faulty policy and faulty execution of government’s good policies?

Danendra Jain
Ganaraj Choumuhani
Agartala 799001
18th Feb 2009

Sonia Gandhi

2010-02-13T19:50:00.001-08:00

Arbitrary promotion and whimsical transfer is the root cause of rampant corruption and culture of flattery to superiors. Culture of flattery to bosses and tendency to become Yesman of Ministers, MPs and MLAs is the root cause of all maladies prevailing in the society. Every employee in our country knows the bitter truth that only those who are yesmen of bosses can get elevation in their career or get cream and comfortable posting.

Most of MLS, MP and Ministers have accumulated properties worth many crores of rupees. Department of vigilance or CBI or Anti corruption cell or Economic offenders cell are silent spectators.

So many IAS and IPS officers have been found indulged in corrupt practices only because they have got the blessings of their mentor Ministers.

So many bank officers and executives have properties worth crores of rupees, which is far more than their total earning in their entire tenure. It is possible only because there is practically none to look into corrupt practices prevailing in the bank at higher level.

When Head of any department or office is corrupt, or when any minister in the government is corrupt it will be foolish to imagine of healthy culture down the line.
It is very difficult to survive with dignity when the boss is corrupt and when boss likes flattery.
Only when boss loves real performance, employees feel delighted in working sincerely.

When real performers are awarded, there will be positive motivation. On the contrary if corrupt is promoted and given good posting, it is but natural that people will be tempted to toe the line of boss even if it is wrong and unethical and against the interest of the organization

As long as we are unable to provide a reasoning based transfer and merit based promotion and as long as the wrong doers are not punished by either head of the department or by the courts we cannot imagine of stopping corrupt practices prevailing in the system and spreading like cancer in the society.

Old proverb survival for the fittest no more holds good. Now a days survival is possible only for the person who is well versed in flattery to bosses, who can earn money through ill methods and share the same with his bosses.

The bitter truth is that there is no foolproof method of providing perfectly merit-based promotion or seniority based promotion in any office. None of the promotion processes can ensure justice to all, justice to the organization and discomfort to none as long as the person responsible for carrying out the promotion process is dishonest and corrupt. When protectors become destructors, damage to society cannot be stopped,

One easy way to stop whimsical transfer and arbitrary promotion is to maintain transparency and abolish the requirement of passing through Interview for existing employees for getting promotion. Interview is such a test where Interviewers can easily spoil the candidates career.

During interview, key role is played by elements like bribe, gift, sources, godfathers, and flattery possessed by employee whose performance is assessed during interview. When Interviewer desires to promote an employee he raises easy questions or do not raise any question and give higher marks and on the contrary he may raises toughest and irrelevant questions before the candidate to reject him in the promotion process.

The interviewer as per his whims and fancies gives marks for interview and unfortunately there is no method to penalize such malicious interviewers or the interview team made of birds of the same feather. There is hardly any place for merit in the mind of Interview panel and this why whimsical promotions take place and a reign of injustice and that of corruption spreads like epidemic and is followed by inefficiency, frustration, depression and what not.

Last but not the least; our courts cannot deliver justice in decades. This eliminates the fear from the minds of interviewer and the aggrieved employee is constrained to bear with the rejection in promotion process. Justice delayed is justice denied. And when there is no hope of justice even from court, aggrieved person in promotion process is left with no alternative other than digesting the poison of injustice.

It is an open secret in our society that victim is afraid of lodging complain in police department against any type of criminal. Not to speak of promotions, management can torture an employee by using his power of transfer and posting an employee in the name of exigencies as per his sweet will.

I therefore request you to take immediate steps to ensure merit based transparent promotion and reasoning based transfers and posting in all offices. Only one remedy to cure disease of corruption is to award honest performers and sideline corrupt performers. Only the bearer knows where the shoe pinches is a right proverb in this regard.

IN BANKING INDUSTRY THERE ARE HUNDREDS OF OFFICERS WHO ARE FACING TRANSFER EVEN TWICE OR THRICE A YEAR WHEREAS OFFICERS SITTING IN METROS ARE SITTING IN ONE TOWN SINCE JOINING SAY FOR TWO OR THREE DECADES.
EVEN POLICY OF RURAL POSTING IS MISUSED BY THE MANAGEMENT TO ISOLATE NON FLATTERERS .
EVEN POLICY OF POSTING OUTSIDE STATE AFTER PROMOTION IS MISUSED TO FAVOUR THE PEOPLE OF WEST BENGAL OR THAT OF MAHARASHTRA.
POLICY OF NORTH EAST POSTING IS USED TO ISOLATE NON FLATTERERS. POLICY OF TRANSFER FOR NON PERFORMERS IS ALSO USED BY THE EXECUTIVE TO KEEP NON FLATTERES AWAY.
NOWHERE AND NONE OF POLICIES ARE USED TO PROMOTE THE CULTURE OF PERFORMANCE.
AS SUCH IT IS COMPARATIVELY BENEFICIAL TO ELIMINATE THE ELEMENTS OF DISCRETION OR DISCRIMINATION IN THE INTERNAL PROMOTION PROCESS AND TRANSFER POLICY.THE MORE TRANSPARENT WILL BE THE POLICIES , THE LESS WILL BE QUANTUM OF FLATTERY IN THE MIND OF WORKING OFFICERS.
EXECUTIVES WHO ARE INDULGED IN CORRUPT PRACTICES WHILE RELEASING ORDER OF TRANSFER OF PUTTING THEIR SIGNATURE ON PROMOTION ORDERS MUST BE SUITABLY PUNISHED SO THAT RECURRENCE OF SUCH MALPRACTICE DO NOT TAKE PLACE.
JUSTICE DELAYED IS JUSTICE DENIED. YOU CANNOT IGNORE THE RESENTMENT, FRUSTRATION AND DEPRESSION PREVAILING IN THE FIELD LEVEL FOR LONG WITHOUT INVITING STRIKE AND LARGE SCALE REVOLT AND RAMPAGE

Danendra Jain
Agartala

HAD I BEEN A MINISTER

2010-01-13T06:04:00.000-08:00

If I become Minister, What will be my strategy to stop price rise?

I will Increase production at farm level, enforce efficient distribution system, ensure safe keeping of buffer stock, tightening of measures against hoarders, blackmarketeers and profiteers, put restriction on traders who create artificial crisis monitoring market trend of prices every day through public relation officers posted in each district, and if possible fix prices where prices are going up and up without any reasoning, stop future trading in commodities and completely ban all speculative activities. I cannot allow exploitation of poor in the name of reformation and privatization or liberalization. I believe excess of freedom is also harmful for any nation and necessary regulation of activities is in the health of the economy and social peace. I will ensure that all officers from top to bottom are vigilant on price movement because it is prices of essential commodities which can make or mar the career of any person.

Last but not the least I will try to stop all unwarranted talks and promises on prices control without making it practically possible. I believe in doing first and informing later and I hate politicians who talk much but do nothing. I hate media who make so much hue and cries, fire Ministers, show useless fierce interviews with politicians but do nothing to expose the real culprits behind unabated and sky rocketing price ruse. Individual shout in street corner meetings or on road and media cries on TV channels but government keeps eyes and ears closed and enjoy to the maximum possible extent.

Is it true that for every selfish leader there is a dedicated leader?

Yes in India it is an open secret and common in all offices and in all departments. All bosses and all top leaders at all levels have a dedicated leader called as Chamcha in common language. Similarly all political heavy weights have dedicated team of political workers behind him and it is only such yes-men who can move ahead in their career .One who is actual worker, performer, real patriot, devotee of God and lover of the country cannot survive and cannot imagine prospering. This is the main reason behind all corrupt activities and all crimes taking place in the country. This is the reason that criminals are moving free without fear of punishment and innocent person are made victim, facing frustration and depression in their life.

Should anyone demand resignation from Mr. Sharad Pawar for current price rise?

I cannot ask for resignation and neither can I suggest this. If the minister is ineffective he should be sacked and his position as MP should also be dismissed. Fresh election should be there. It will be ridiculous if Sharad Pawar resigns as Agriculture Minister and UPA makes him defense minister. Undoubtedly he will spoil Defense ministry.

When Lalu was charge sheeted by CBI, he resigned from CM post of Bihar. But later he became Railway Minister at Center. This is not the solution.

Shiv Raj Patil was inefficient and if he is made governor of a state what will be the fate of that state. Similarly it is possible that Mr. Pawar is offered the post of President by UPA. Question is therefore how to punish an erring Minister in such a way that none of the minister dare to be lazy and ineffective. A simple officer cannot survive in any office if he is not performing well, how a minister in our country is allowed to move up and up even if he does not perform. But it is unfortunate that the post of Minister as also all top posts in government departments have become a tradable commodity in Indian politics.

Danendra Jain,
Agartala
13th January 2010

Price rise is due to neta-traders nexus

2010-01-08T17:43:00.001-08:00

Prices of all edible food grains are continuously rising. In past three four decades I think price never shoot up so much high and so much quickly and speedily in the past, even during Indira’s rule. Prices are increasing brakeless and unabated. It seems more ridiculous when government claims that it is watchful and monitoring properly the trend of price. It gives the message that political leaders do not mean what they say.

Reason behind current price in my opinion is undoubtedly o Neta –Traders and Neta-share broker nexus and it is be beyond the control of the government or the administration. Mr. Sharad Pawar openly says prices will go up. When Ministers issues such irresponsible statement, market overreacts and it is natural. Even opposition parties are silent, almost silent. It shows there are also black sheep in opposition camp. In parliamentary system it is only opposition which can save people of India from misrule of ruling government. If opposition parties also become silent spectator of rising prices, people are helpless.

Media makes so much hue and cries through TV and print media every now and then. But there is none in the camp of ruling or opposition camp to bother. Ruling government has got a lame excuse and they always talk of global warming or global economic slowdown or bad climate and easily they hide the mistakes of Indian system and also underlying corruption, unethical profit making through hoarding and arbitrary fixing of rates on all commodities . Opposing parties due to their internal problems have also turned deaf ear to painful price rise.

Business house are however very much clever and they keep good relation with all political parties. Obviously leaders of all parties enjoy and it is only common men who suffer the most. Leaders of UPA government blame state governments for current price rise and accuse them for spurt in prices. But they forget that prices are rising even in those states where UPA is in power. When government is not bothered, let the public suffer and revolt against price rise.

Minister of external affairs advised students not to prefer education in Australia because it is not in their control to stop violence going on in Australia against Indians unabated. Now it is also possible that Manmohan Singh, Prime Minister of India will advise the common men to avoid buying commodities which are not in their reach and remain content with grass and tea leaves.

Danendra Jain
Agartala
9th January 2010

Is selling of PSU only remedy

2010-01-07T19:31:00.001-08:00

It is always advisable that office bearers of an organization are changed periodically in a democratic system. At least there should be change of person every two or three years for the post of Secretary and the President in the same way as Branch head or Regional head or Zonal head or CEO of a bank is changed every two – three years.

In a democratic country like India every political parties have been changing their Presidents periodically. Prominent Communist parties change their party president every two years. Banking Industry has inherited communist culture, but it is disheartening to mention here that staff unions and associations in these banks are dependent on a few leaders who have been occupying top posts for decades. Political parties, trust or an organization or Bank union or association of officers who consider any person indispensable on top posts are really too weak to survive for long and undoubtedly prone to corrupt practices. These organizations in fact have not developed second line of management.

Even a financial Institute cannot prosper with quality and remain in good health if the persons posted at responsible and sensitive posts are not altered periodically. Whereever the same person hold sensitive posts in a bank for a longer period it is found that the bank's intrinsic value and overall quality of its assets suffers continuous erosion and the disease of corruption spread like cancer in the system. It is such organization where whimsical promotions and whimsical posting takes place.

It is these organizations where good persons are shunted away and bad persons are promoted and placed at cream posts so that the corrupt lobby is not questioned by anyone. It is under such bad administration that person like Rathore goes on getting promotion and respectable posting whereas on the other persons like Ruchika are forced to bear with injustice meted out to them. By the time realities of corrupt person get exposed by grace of God, it is too late. Justice delayed is justice denied. There are many Rathore like executives in banking Industry too who have been getting uninterrupted promotions and getting one after other elevation in their career (at the cost of good performers) despite the fact that there were indulged in corrupt practices and they caused huge loss to banks.

Keeping in view above-mentioned bitter truth of the organization I demand those office bearers of officers association as also employees unions in all banks must be changed every two - three years. If Bank employees fail to ensure this healthy culture, perpetuation of injustice cannot be stopped and frustration among good workers will continue to rise ultimately jeopardizing the health of the bank.

I hope sensible, experienced, educated and prudent class of officers will apply their wisdom and take all possible steps to stop monopoly and dictatorial attitude of certain office bearers who have in course of time become indispensable and who are eating away fruits of hard labour done by real workers. Second line of leadership must be developed in all organization for achieving sustainable quality growth of not only assets but also that of human capital.

Danendra Jain
Ganaraj Choumuhani
Agartala
7th January 2009

Bank's Festival Offer on Home loans

2009-09-25T20:13:00.000-07:00

Before 1991 banks used to charge higher rate of interest for higher amount of loans. The logic behind such approach was that rich businessmen could afford higher rate of interest. Small businessmen can compete in the market with wholesale dealers and bulk manufacturers only when they are given certain discounts on interest rates. This philosophy worked upto 1991 when social objective was real and truly followed by bankers and this was the sole target of the government too. Banks were nationalized in the year 1969 so that poorest among the poor can also approach banks for keeping their surplus fund and also to seek loan for their business and personal requirements. Banks were opened in villages so that it is made available in even remotest villages and its reach become wider and wider up to even downtrodden villagers and even scavengers in the towns. All types of facilities and rebates were meant for poor and middle class.

In the modern days i.e. after 1991or you can says in the age of economic reformation, liberalization and globalization, the approach of the government and also the bankers have completely changed. After 1991 social objective has in fact become a mask to conceal their hidden agenda of earning more and more profits. Now big businessmen can be given loans in hundreds and thousands of crores rupees at sub PLR rates whereas a small trader cannot expect loan below sub PLR rates. Exporters can be given bulk loan at subsidized rates. There is neck to neck competition among bankers to reduce their lending rates for home loan and car loan seekers. The more loans they ask for, the more discount they will get. All types of infrastructure benefits are now extended to business giants, and not small or middle sized businessmen.

It is ironical that banks even now boast for fulfilling social objective. Yes, they achieve the required ratio of lending in priority sector, but not by making fresh disbursement to small and middle borrowers but by including bigger and bigger loans in the domain of priority sector or by enlarging the activities in the domain of small borrowers. In this modern era even credit facilities upto Rs. 5.00 crores is considered as loan under priority sector.

Home loan up to Rs.50.00 lacs are considered as priority lending at lesser and lesser rates of interest. Here it is worthwhile to mention that loan of Rs.30 lacs can be taken only when house is of the value of at least Rs.40.00 (truly speaking such house may of Rs.50.00 to Rs.60 lacs keeping in mind the black money paid for each home sale). Car loan is given by banks at low rates and various discounts are being allowed to car buyers during festival season. But the million dollar question is who can afford buying a car? Can a common man (95% of population) afford a car?

Now can any one imagine that poor or middle class person having less than three lacs rupees as annual income can afford home loan of more than Rs.12 lacs because maximum permissible finance for home loan is four time of annual income in most of the banks.?

Can a person of income less than rupees three or four lacs can dream of buying a house of Rss.30.00 lacs (including black money) and can he afford repayment of loan of Rs.20.00 lacs by legal source of income?

Obviously banks are reducing lending rates for rich persons, they may be home loan seekers or buyer of costly car or they may be big trade houses, big exporters or large corporate houses.

It is not only banks which are crazy for big fishes. Even government is cutting tax or making such policies that cost on freezes, computers, laptops, mobiles, cars, scooter, wine, air travels is gradually coming down. On the contrary prices of essential commodities which are lifeline for poor and middle class people are sky rocketing day by day. Prices of potato,onion, tomato, green vegetables, pulses, wheat, rice, sugar, milk .and many more such things on which lie the survival of 95% of Indian population are rising up and up, not because of less production but because of faulty policy of the government. Hoarding, black marketing and profit making has become the accepted habit of rich traders and manufacturers.

Businessmen who have the capacity to store the goods of essential use can earn any profit by hoarding the same because government has given them unlimited freedom. Even education has become so costly that common men cannot imagine of quality higher education or even primary education in towns. Common men cannot imagine of cheap health care in government run hospitals and they have to pay unreasonable big amount for treatment in private nursing homes.

Who will take stern action?
Who will stop future trading in commodities?
Who will prevent hoarding and profit making in food items?
Who will prevent bankers extending credit facilities to rich and affluent class at sub PLR?

Obviously none. Because even Manmohan Singh, the Prime Minister of India tells that there is corruption rampant all where in the country, even he accepts that development fund given by government to different agencies do not reach in the hand of poor. Even PM tells that there is a need to check price rise immediately .But he is helpless and unable to prevent price rise. He cannot keep prices in control because he has given unlimited freedom to traders in the name of reformation. He also imagines just like a help less poor, like a common man and like average Indian imagines and curse the system.

After all who will cure the system when everyone cry and cry only against the cancerous disease of mal administration, corrupt and inefficient government machinery?

Who cares for poor?
Of course Bankers do not care at all and neither can they afford doing so.
If anyone is interested to know the reality I would like RBI to submit data on following two points so that educated class and so called economists and social reformers can understand the reality of social agenda of the bank.

Loans outstanding up to Rs. 5.00 lacs( including home loan , education loan, trade loan or agricultural loan ) as on 31.12.2005. 2006, 2007, 2008, 2009 and as on date and disbursed during these years .These data will tell the real story of social objective and tell whether poor and middle class men are really getting loans from banks.

Secondly to know the amount of bulk financing made by banks at Sub PLR ,year wise disbursement made by banks to rich people in the range of Rs.10 crores and above can also be obtained to compare the same with that made to common men up to Rs.5.00 lacs.

Danendra Jain
Agartala
26th September 2009

Indians are parking black money in Swiss Banks

2009-03-30T23:03:00.000-07:00

There is no doubt that Indian money is being deposited at foreign bank and this has been continuing since long. Government of India has come out so many times in the past with schemes for voluntary disclosure of black money. It is government who first frame such rules which forces businessman to hide income and hoard black money either in Indian bank in fictitious name or in foreign based Swiss bank. Again it is government who instead of punishing the creator and hoarder of black money gives him an opportunity to get rid of punitive action under Voluntary Disclosure Schemes.

This is why businessmen hide money at foreign bank and always wait for new scheme for Voluntary disclosure and get immunity from legal action. Wrong culture has been inculcated in businessmen by the government only and it is bitter truth and undeniable fact that under such schemes officers and politicians also get an golden opportunity to convert black money ( earned by bribe and unfair means) into white money.

Black money is produced in Indian economy at greater speed than real white money. This black money is also invested in real estate or in Gold or in shares where ample opportunity is still available to conceal the black income. It is due to black money that in India all landed property , apartments, flats, commercial houses, shops or any type of building are traded at two rates , one for black money and one for white money. Flat of value of Rs.30.00 lacs will be sold in Rs. 10.00 lacs as while money and residual Rs. 20.00 lacs as black money for which no receipt is issued by seller of property. Registered deed is constructed for value of Rs.10.00 lac only. As such there is huge black money in Indian economy flowing for years and years without any interruption. Obviously real estate sector is the safest heaven to park black money for officers and traders as well.

After all, black money is the real engine of growth in all sectors. Even politicians will not survive if they do not take black money as donations from businessmen and servicemen .Political workers collect donations from all rich houses without issuing any bill or receipt or you can say without accounting for the same. Political parties account for money only to that extent which is received by cheque from big corporate houses.

It is an open secret that nine out of ten big and attractive houses built in any town or village is built by black money. An honest servicemen or true businessmen abiding all Income Tax rules strictly cannot imagine of having a house worth living. Most of luxurious cars are purchased only by those persons who have illegal income more than legal income.

Government need not therefore go to Swiss bank to verify and demand black money parked there. There is no need to place the matter at G20 meeting to demand disclosure of deposits of Indian parked in Swiss Banks. If there is strong will Government may get the culprit here itself and discover black money at least hundred times of what they suppose to be parked in foreign bank. But who will take such initiative seriously is the million dollar question. When all officers, political workers and all business houses are working in unison and in collusion with each other, none has guts to take strong initiative to stop the unhealthy practice flourishing in India for decades and decades. After all who will bell the cat when all are birds of the same feather?

Political leaders have been firing paper bullets on traders and officers for decades but from the core of their heart they play the same tune which hypnotizes traders and officers for contributing more and more for politicians and political parties. Traders, politicians and officers are made for each other and they cannot break their vicious circle without jeopardizing their survival in their area of operation. It is always the residual 90% of the population which have to suffer due to dominance of black sheep of the economy constituting hardly 10% of the population. Large scale corruption and sky rocketing price of all commodities , goods and services affects adversely the general mass and not at all the affluent class of traders, officers and politicians.

Danendra Jain Agartala
31st March 2009