New Delhi, Jan 29 (UNI) In military splendour and glory, the nation today witnessed 'Beating the Retreat' ceremony on the occasion of the 61st Republic Day celebrations.
Comes as it does at sunset, the rays of the sun added to the majesty of the Rashtrapati Bhavan and the Raisina Hills looked resplendent as the services bands played various tunes, many of which were composed in the bygone era.
All said and done, the Retreat is a shadow of the Raj era and despite more than six decades of Independence, the traditions are still maintained.
As many as 35 bands from the Army, Navy and Air Force literally called the tunes at the ceremony. The Army had 27 bands, and Navy and Air Force contributed four bands each.
The salute was taken by President Pratibha Devisingh Patil, in her capacity both as the Head of the State and the Supreme Commander of the Armed Forces.
The arrival of the President on a six-door Mercedez Benz was preceded by the Bodyguards of the Head of the Republic.
Prime Minister Manmohan Singh, Vice-President Hamid Ansari, Defence Minister A K Antony and the three Services Chiefs were there to receive the President.
The President was given a salute on her arrival by the three Services Chiefs-- Chief of Army Staff Deepak Kapoor, Chief of Naval Staff P V Naik and Chief of Air Staff Sureesh Mehta.
The Retreat is a century-old military tradition dating from the days when troops disengaged from battle at sunset. As soon as the buglers sounded the Retreat, the troops seized fighting, sheathed their arms and withdrew from the battlefield.
It is precisely for this reason that the custom of standing still during the sounding of Retreat has been retained to this date. Colours and standards are cased and flags lowered at Retreat.
Drum beats are the relic of the days when trooped, billeted in towns and cities, were recalled to their quarters at an appointed time in the evening. Based on these military traditions, the ceremony of the Retreat creates a mood of nostalgia for the times gone by.
This year, nearly 1000 bandsmen drawn from the three wings of the Armed Forces took part in the ceremony.
Both the beginning and end of the ceremony were marked by the playing of the National Anthem.
The military power of the nation was on display, not with guns and ammunition as is done on the Republic Day, but by the power of the services.
It all began with 'Sam Bahadur,' a tune composed in honour of first Field Marshall of India Sam Manekshaw.
The Army's 15 Massed Pipes and Drums Bands played six tunes including 'Surya', which was accompanied by a quick march. The other numbers included 'Sky Boat Song', accompanied by slow march and 'Highland Laddie'.
The most soothing tune was 'Nocturnal Cry,' which was marked by the sound of Bugles located atop the North and South Blocks.
Mahatama Gandhi's favourite tune 'Abide with me' was received well by the spectators at the Vijay Chowk. The hymn pleads with God to be ever present with a person.
To give a human touch to the affair, 16 visually-challenged children from city’s 'Venu Institute of Universal Education' were brought in as special guests as a goodwill gesture.
The departure of the President was again preceded by her Bodyguards who took her permission to depart.
In fact, on display was the might and power of India, not a slow moving country any longer but one which marches briskly and stoutly as the world wonders at its magnificence, glory and its power.
Monday, February 1, 2010
Saturday, January 23, 2010
ECONOMY-RBI-PLATINUM JUBILEE
RBI celebrates Platinum Jubilee, President showers it with praise
By Gurdip Singh & Shabbir Ahmed
New Delhi, Jan 16 (UNI) Central Banks all over the world have come to play an increasingly important role in managing booms and busts of their economies, a phenomenon which has gained currency in recent times.The vicissitudes of an economy do not necessarily follow the behaviour of traditional business cycles. This, therefore, means that monetary policy has to be used with imagination, vision, foresight and innovatively.Central Banks, which have not done so, have landed their economies in a tight spot.For instance, during the recent global financial crisis in many economies, monetary policy ran out of steam. Their Central Banks, as if in panic, continuously lowered interest rates to prop their economies until it reached zero level.In such a situation, monetary policy can do little and the moot question is if the global recession gets deeper due to whatever reason, what would be the role of the monetary policy. The reliance in such a case would be exclusively on fiscal policy, without an aligned monetary policy.India's Central Bank--The Reserve Bank of India--has played a significant role for propelling growth and orderly management of the economy.India now is the second fastest growing economy in the world and appears to be headed towards becoming an economic powerhouse in future.Yet, monetary policy has come in for both commendation and scathing criticism.Its chief merit has been the cautious manner in which it managed the opening up of the capital account convertibility and the credible manner in which it handled the banking system during the recent phase of global slowdown and its consequential impact on theIndian economy. Both the Indian economy and its banking system have weathered the storm well.Nevertheless, it has been criticised for knee-jerk reactions as if acting in panic. It pushed down the growth rate by pressing the brakes too hard on interest rates, when faced with an inflationary spiral and then reversing the policy as soon as the global financialcrisis emerged on the horizon. India's main problem is now how to exit from the accommodative monetary policy. Being an important part of the global community, including the G-20, it has to go by the exhortions of the Group.With inflation again surfacing, it needs to move back to higher rates of interest and other monetary policy tightening.All said and done, the dice is loaded in favour of money tightening as inflation is an extremely sensitive area in Indian politics. Today marked the celebrations of its platinum jubilee. This is a time for introspection and looking back to what has been achieved and what else needs to be done. The event in this regard was held at the RBI's main office on Parliament Street which is in the heart of the capital city.Significantly, the event was led by none other than President Pratibha Patil. Mrs Patil commended the monetary policy role the Reserve Bank has played in "normal" and "critical times" since it came into existence, asking that it should now gear itself to achieving the task of financial inclusion.Mrs Patil said the Central Bank has acted in a ''highly'' responsible manner and contributed to providing support to the nation's economy.''The problems of the Reserve Bank, including during the recent crisis demonstrates that its experience of regulating monetary flows of the nation has lent to it a high status and given it deep maturity and prospective to deal with a range of complex economic issues,'' Ms Patil said.On the occasion, the President released a stamp commemorating the RBI's Platinum Jubilee.The RBI started functioning on April 1, 1935, making April 1, 2009 to March 31, 2010 its 75th year.The stamp depicts the iconic New Delhi building of the RBI and a representation of India's paper currency and coins.The stamp was released in the presence of Finance Minister Pranab Mukherjee, Minister of State for Communication and Information Technology Gurudas Kamal and Minister of State for Finance (Banking and Insurance) Namo Narain Meena.Three of the RBI former Governors were also present at the function, namely Dr C Rangarajan, Dr Bimal Jalan and Dr Y V Reddy.The President said priority of the banking system should be to strengthen itself significantly to support a "modern vibrant and inclusive economy."She said the banking system has grown considerably, but yet the challenge is to reach the unbanked areas, particularly in the rural sector.''I am confident that the Reserve Bank will provide an appropriate policy framework to achieve this objective. The Reserve Bank has been aligning the banking system to response to the needs and priorities of our developmental agenda. At this stage as part of the increased social responsibility, we need greater involvement of the banking system in the ongoing national development programmes,'' Mrs Patil said.The President said the Central Bank has adapted itself well to the changing requirements and has been able to innovate and implement policies that have enabled the country to achieve high growth rates.Speaking on the occasion, RBI Governor D Subbarao observed that ever since the RBI was established, there have been momentous changes in the economy.The paradigm shift in economic ideology, new perspectives on economic development, growing aspirations of the people, path-breaking financial innovations and major technological breakthrough have influenced the banking system, to which theReserve Bank has responded "in its own unique way." Mr Kamal said the postal stamp speaks off the cultural heritage of the nation.Mr Mukherjee lauded the role of the Central Bank in effectively tackling the impact on India of the global financial crisis.Mr Meena said apart from efficiently administering economic policy changes, the RBI has in a responsible manner taken care of the interests of its agents, including depositors, intermediaries, government business and external trade.All in all, while 75 years a relatively short span for an institution, the journey since RBI's establishment has been eventful, shaping not only its intellectual evolution but alsosecuring its permanent position in the economic policy space of the country. To achieve something may or may not be easy, but sustaining it and taking it forward is a formidable challenge. As India tackles its problems of growth and poverty, it's Central Bank will be called upon to manage growth, stability and achieve financial inclusion.
By Gurdip Singh & Shabbir Ahmed
New Delhi, Jan 16 (UNI) Central Banks all over the world have come to play an increasingly important role in managing booms and busts of their economies, a phenomenon which has gained currency in recent times.The vicissitudes of an economy do not necessarily follow the behaviour of traditional business cycles. This, therefore, means that monetary policy has to be used with imagination, vision, foresight and innovatively.Central Banks, which have not done so, have landed their economies in a tight spot.For instance, during the recent global financial crisis in many economies, monetary policy ran out of steam. Their Central Banks, as if in panic, continuously lowered interest rates to prop their economies until it reached zero level.In such a situation, monetary policy can do little and the moot question is if the global recession gets deeper due to whatever reason, what would be the role of the monetary policy. The reliance in such a case would be exclusively on fiscal policy, without an aligned monetary policy.India's Central Bank--The Reserve Bank of India--has played a significant role for propelling growth and orderly management of the economy.India now is the second fastest growing economy in the world and appears to be headed towards becoming an economic powerhouse in future.Yet, monetary policy has come in for both commendation and scathing criticism.Its chief merit has been the cautious manner in which it managed the opening up of the capital account convertibility and the credible manner in which it handled the banking system during the recent phase of global slowdown and its consequential impact on theIndian economy. Both the Indian economy and its banking system have weathered the storm well.Nevertheless, it has been criticised for knee-jerk reactions as if acting in panic. It pushed down the growth rate by pressing the brakes too hard on interest rates, when faced with an inflationary spiral and then reversing the policy as soon as the global financialcrisis emerged on the horizon. India's main problem is now how to exit from the accommodative monetary policy. Being an important part of the global community, including the G-20, it has to go by the exhortions of the Group.With inflation again surfacing, it needs to move back to higher rates of interest and other monetary policy tightening.All said and done, the dice is loaded in favour of money tightening as inflation is an extremely sensitive area in Indian politics. Today marked the celebrations of its platinum jubilee. This is a time for introspection and looking back to what has been achieved and what else needs to be done. The event in this regard was held at the RBI's main office on Parliament Street which is in the heart of the capital city.Significantly, the event was led by none other than President Pratibha Patil. Mrs Patil commended the monetary policy role the Reserve Bank has played in "normal" and "critical times" since it came into existence, asking that it should now gear itself to achieving the task of financial inclusion.Mrs Patil said the Central Bank has acted in a ''highly'' responsible manner and contributed to providing support to the nation's economy.''The problems of the Reserve Bank, including during the recent crisis demonstrates that its experience of regulating monetary flows of the nation has lent to it a high status and given it deep maturity and prospective to deal with a range of complex economic issues,'' Ms Patil said.On the occasion, the President released a stamp commemorating the RBI's Platinum Jubilee.The RBI started functioning on April 1, 1935, making April 1, 2009 to March 31, 2010 its 75th year.The stamp depicts the iconic New Delhi building of the RBI and a representation of India's paper currency and coins.The stamp was released in the presence of Finance Minister Pranab Mukherjee, Minister of State for Communication and Information Technology Gurudas Kamal and Minister of State for Finance (Banking and Insurance) Namo Narain Meena.Three of the RBI former Governors were also present at the function, namely Dr C Rangarajan, Dr Bimal Jalan and Dr Y V Reddy.The President said priority of the banking system should be to strengthen itself significantly to support a "modern vibrant and inclusive economy."She said the banking system has grown considerably, but yet the challenge is to reach the unbanked areas, particularly in the rural sector.''I am confident that the Reserve Bank will provide an appropriate policy framework to achieve this objective. The Reserve Bank has been aligning the banking system to response to the needs and priorities of our developmental agenda. At this stage as part of the increased social responsibility, we need greater involvement of the banking system in the ongoing national development programmes,'' Mrs Patil said.The President said the Central Bank has adapted itself well to the changing requirements and has been able to innovate and implement policies that have enabled the country to achieve high growth rates.Speaking on the occasion, RBI Governor D Subbarao observed that ever since the RBI was established, there have been momentous changes in the economy.The paradigm shift in economic ideology, new perspectives on economic development, growing aspirations of the people, path-breaking financial innovations and major technological breakthrough have influenced the banking system, to which theReserve Bank has responded "in its own unique way." Mr Kamal said the postal stamp speaks off the cultural heritage of the nation.Mr Mukherjee lauded the role of the Central Bank in effectively tackling the impact on India of the global financial crisis.Mr Meena said apart from efficiently administering economic policy changes, the RBI has in a responsible manner taken care of the interests of its agents, including depositors, intermediaries, government business and external trade.All in all, while 75 years a relatively short span for an institution, the journey since RBI's establishment has been eventful, shaping not only its intellectual evolution but alsosecuring its permanent position in the economic policy space of the country. To achieve something may or may not be easy, but sustaining it and taking it forward is a formidable challenge. As India tackles its problems of growth and poverty, it's Central Bank will be called upon to manage growth, stability and achieve financial inclusion.
PEOPLE-JITIN PRASADA-WEDDING
Wedding bells for Jitin Prasada; to say 'I do' on Feb 16
By Shabbir Ahmed & Gurdip Singh
New Delhi, Jan 17 (UNI) Love since time immemorial has transcended religions, regions, classes and other barriers.Come February 16, two days after the Valentine's Day, the Minister of State for Petroleum, Jitin Prasada will exchange vows with Lucknow-based girl Neha Seth, a political journalist, in a blissful culmination of a four-year courtship with her.For the first time, an Indian Minister while being inoffice will be walking down the aisle.This may seem strange to foreigners, too used to seeing youngpoliticians in office and far too familiar with affairs of people in public life. These include former assassinated US President John F Kennedy, former US President Bill Clinton's affair with Monica Lewinsky and French President Nicolas Sarkozy's affair and later marriage with Carla Bruni, a model.India is, by and large, a conservative country where people inpublic life are shy of throwing in the limelight their private affairs. For this can have disastrous consequences for the image of theperson concerned and may mar his or her prospects at the hustings.Demure Neha, formerly a television journalist, has pleasing looks, sharp features, a disarming smile and what have you. Mr Prasada, 36, is known to be close to Mr Rahul Gandhi, the youngest ever General Secretary of the Congress and the son of Congress President Sonia Gandhi.It appears that some of the friends of Mr Gandhi are bidding bachelorhood goodbye to enter into wedlock.Recently, Mr Milind Deora, son of Petroleum Minister Murli Deora, got married. Mr Prasada and Ms Seth have been going around for some years now, with the two finally deciding to become partners for life.The wedding is planned to be a grand and classy affair with many VIPs slated to attend it. Surprisingly, Mr Gandhi, like his father late Prime Minister Rajiv Gandhi, has Greek God looks, but for some reasons best known to him, has decided to remain a bachelor so far.Neha is no stranger to the people of the country for having been a television journalist and later Media and Public RelationsAdvisor to former Rajasthan Chief Minister Vasundhra Raje, a heavy-weight BJP leader.When Prime Minister Manmohan Singh chose his Cabinet, it appeared that he had given preference to wise old men, whose experience was to be used for nation building. As always, there are two sides to a coin with many describing it as a lacklustre affair, where there will be no excitement but a continuation of all that is going on in the government.As things have turned out, it is in continuity with change in policy making, where there are no punches, hard knocks or excitement.Some were pleased to see new and young faces like Dr Shashi Tharoor, now Minister of State for External Affairs. All said and done, Dr Tharoor has given a new flavour to the Cabinet by his eloquence and excellent communication skills, notwithstanding the fact that his statements have now and then courted controversies.The reasons are not too far to see. Dr Tharoor contested the election of the United Nations Secretary-General and after losing by a narrow margin, decided to join Indian politics. He won his Lok Sabha seat from Thiruvananthapuram with a record margin. Dr Tharoor is an erudite writer with his popular columns appearing in many mainstream newspapers. Mr Prasada represents the Dhaurahra (Lok Sabha constituency) of Lakhimpur Kheri district in Uttar Pradesh. A product of the rich man's school--The Doon School, Dehradun, Mr Prasada graduated in Honours in Commerce from the prestigious Sri Ram College of Commerce, Delhi University, and completed his MBA from Indian Management Institute(IMI), New Delhi. His great grandfather, Jwala Prasada was a Colonial Civil Service officer and great grandmother Purnima Devi was the niece of Rabindranath Tagore.In his first tenure as a Member of Parliament, Mr Prasada was inducted as Minister of State for Steel and was one of the youngest ministers in the Cabinet. He was inducted into the Cabinet in April 2008.Mr Prasada's interests are varied and include bird watching and jungle safari. He likes films, music and reading, and has a taste for trying out different cuisines of the world and seeks recreation in interacting with friends and working on computer. Mr Prasada was just 27 when his father, Jitendra Prasad, a Congress leader and political advisor to former Prime Ministers Rajiv Gandhi and Narasimha Rao, died. Life changed overnight for him. He quit his corporate job to be with his mother and later helped her contest the elections. Neha, too, has lived for long in Uttar Pradesh, having done her schooling from La Martiniere, Lucknow. Sources say that there was no opposition to the marriage from the families of the couple.After Mr Prasada joins the marriage club, just two ministers --Mr Mukul Wasnik and Agatha Sangma -- in the Union Cabinet will be left single. Those who have come to know about the wedding are wishing the couple well, including the community of journalists. History is not only made by big political decisions, but even more important by what happens to people in their personal lives.They say marriages are made in heaven and solemnised on earth. And it appears that Jitin and Neha will make a perfect couple.
By Shabbir Ahmed & Gurdip Singh
New Delhi, Jan 17 (UNI) Love since time immemorial has transcended religions, regions, classes and other barriers.Come February 16, two days after the Valentine's Day, the Minister of State for Petroleum, Jitin Prasada will exchange vows with Lucknow-based girl Neha Seth, a political journalist, in a blissful culmination of a four-year courtship with her.For the first time, an Indian Minister while being inoffice will be walking down the aisle.This may seem strange to foreigners, too used to seeing youngpoliticians in office and far too familiar with affairs of people in public life. These include former assassinated US President John F Kennedy, former US President Bill Clinton's affair with Monica Lewinsky and French President Nicolas Sarkozy's affair and later marriage with Carla Bruni, a model.India is, by and large, a conservative country where people inpublic life are shy of throwing in the limelight their private affairs. For this can have disastrous consequences for the image of theperson concerned and may mar his or her prospects at the hustings.Demure Neha, formerly a television journalist, has pleasing looks, sharp features, a disarming smile and what have you. Mr Prasada, 36, is known to be close to Mr Rahul Gandhi, the youngest ever General Secretary of the Congress and the son of Congress President Sonia Gandhi.It appears that some of the friends of Mr Gandhi are bidding bachelorhood goodbye to enter into wedlock.Recently, Mr Milind Deora, son of Petroleum Minister Murli Deora, got married. Mr Prasada and Ms Seth have been going around for some years now, with the two finally deciding to become partners for life.The wedding is planned to be a grand and classy affair with many VIPs slated to attend it. Surprisingly, Mr Gandhi, like his father late Prime Minister Rajiv Gandhi, has Greek God looks, but for some reasons best known to him, has decided to remain a bachelor so far.Neha is no stranger to the people of the country for having been a television journalist and later Media and Public RelationsAdvisor to former Rajasthan Chief Minister Vasundhra Raje, a heavy-weight BJP leader.When Prime Minister Manmohan Singh chose his Cabinet, it appeared that he had given preference to wise old men, whose experience was to be used for nation building. As always, there are two sides to a coin with many describing it as a lacklustre affair, where there will be no excitement but a continuation of all that is going on in the government.As things have turned out, it is in continuity with change in policy making, where there are no punches, hard knocks or excitement.Some were pleased to see new and young faces like Dr Shashi Tharoor, now Minister of State for External Affairs. All said and done, Dr Tharoor has given a new flavour to the Cabinet by his eloquence and excellent communication skills, notwithstanding the fact that his statements have now and then courted controversies.The reasons are not too far to see. Dr Tharoor contested the election of the United Nations Secretary-General and after losing by a narrow margin, decided to join Indian politics. He won his Lok Sabha seat from Thiruvananthapuram with a record margin. Dr Tharoor is an erudite writer with his popular columns appearing in many mainstream newspapers. Mr Prasada represents the Dhaurahra (Lok Sabha constituency) of Lakhimpur Kheri district in Uttar Pradesh. A product of the rich man's school--The Doon School, Dehradun, Mr Prasada graduated in Honours in Commerce from the prestigious Sri Ram College of Commerce, Delhi University, and completed his MBA from Indian Management Institute(IMI), New Delhi. His great grandfather, Jwala Prasada was a Colonial Civil Service officer and great grandmother Purnima Devi was the niece of Rabindranath Tagore.In his first tenure as a Member of Parliament, Mr Prasada was inducted as Minister of State for Steel and was one of the youngest ministers in the Cabinet. He was inducted into the Cabinet in April 2008.Mr Prasada's interests are varied and include bird watching and jungle safari. He likes films, music and reading, and has a taste for trying out different cuisines of the world and seeks recreation in interacting with friends and working on computer. Mr Prasada was just 27 when his father, Jitendra Prasad, a Congress leader and political advisor to former Prime Ministers Rajiv Gandhi and Narasimha Rao, died. Life changed overnight for him. He quit his corporate job to be with his mother and later helped her contest the elections. Neha, too, has lived for long in Uttar Pradesh, having done her schooling from La Martiniere, Lucknow. Sources say that there was no opposition to the marriage from the families of the couple.After Mr Prasada joins the marriage club, just two ministers --Mr Mukul Wasnik and Agatha Sangma -- in the Union Cabinet will be left single. Those who have come to know about the wedding are wishing the couple well, including the community of journalists. History is not only made by big political decisions, but even more important by what happens to people in their personal lives.They say marriages are made in heaven and solemnised on earth. And it appears that Jitin and Neha will make a perfect couple.
ECONOMY-KEYNES (2)
''It is also obvious to the more thoughtful that the present system is intellectually and politically unstable,'' Lord Skidelsky said. Prof Skidelsky asked as to whether the world can still afford to go along with a system which crashes every few years, with increasingly serious social consequences. ''It is both impossible as well as undesirable to restore the trade unions as a'countervailing power' in the Anglo-American type of economies dominated by the service sector and high-tech manufacturing,'' he said. Lord Skidelsky said the liberal solution of breaking up concentrations of big business was unavailable in the increasingly integrated global market. ''The key to the restoration of a Keynesian political economy is thus the rehabilitation of the State as an instrument of public interest,'' he said.Prof Skidelsky said it can be argued that nation states cannot control global capital and that a world state was unavailable.''But a 'single world' model of globalisation was not the only one. It is far more plausible to think of global integration developing via regional integration. This offers a more feasible route to reinserting democratic oversight of the economy,'' he said.Prof Mundel spoke about the many sided genius that was Keynes and how he gave up his wealth and spent it on buying art and on many other interests he had.Prof Mundel said Lord Keynes was not the only one who gave up his wealth for more recently Warren Buffet, one of the richest men in the world, has given much of it in charity. Similarly, Bill Gates doles out huge sums for charity. Prof Mundel referred to the wide gulf between the rich and the poor in India, a bane of Indian economic policy and planning. Huge social spending would go some way in ameliorating the condition of the poor, he said. The concepts of social spending too has been borrowed from Keynes interventionist government policy. Born on June 5, 1883, Keynes, the British doyen, in the 1930s spearheaded a revolution in economic thinking, overturning the older ideas of neoclassical economics like Jean-Baptiste Say that held that free markets would automatically provide full employment as long as workers were flexible in their wage demands. Following the outbreak of World War II, Keynes's ideas concerning economic policy were adopted by leading Western economies. During the 1950s and 1960s, the success of Keynesian economics was so resounding that almost all capitalist governments adopted its policy recommendations.Keynes's influence waned in the 1970s, partly as a result of problems that began to afflict the Anglo-American economies from the start of the decade, and partly due to critiques from Milton Friedman and other economists who were pessimistic about the abilityof governments to regulate the business cycle with fiscal policy.However, the advent of the global financial crisis in 2007 has caused a kind of resurgence in Keynesian thought. Keynesian economics has provided the theoretical underpinning for the plans of US President Barack Obama, British Prime Minister Gordon Brown,Prime Minister Manmohan Singh and other global leaders to ease the recession.Keynes is widely considered as the father of modern macroeconomics. In addition to being an economist, Keynes was also a civil servant, a patron of the arts, a director of the Bank of England, an advisor to several charitable trusts, a writer, a privateinvestor, an art collector, and a farmer. Of towering stature, both metaphorically and physically. Keynes stood at six feet, six inches.Apart from being an exercise in intellectual delight, the debate on the resurgence of Keynesianism, brings home the relevance of the ideas of India's wise men. Much before Keynes and Warren Buffet, Buddha renounced his princehood to take to meditation. He gave to the world the middle path, popularly known as the eightfold path to attaining 'Nirvana' or salvation.While Keynes continues to dominate economic thinking, Buddha rules the hearts, minds and lives of many of the world. It is for this reason that he is worshipped.
By Gurdip Singh
By Gurdip Singh
ECONOMY-KEYNES
Global meltdown: Is it the exit of Keynesianism or its revival?
By Gurdip Singh
New Delhi, Jan 18 (UNI) It is now a clash of titans from the world of economics on the argument as to whether recent global experience testifies to the exit of Keynesianism or its revival. A scintillating debate on the subject took place at a recent seminar in the capital where divergent views were expressed on the subject by two giants from economics--Lord Meghnad Desai, Professor Emeritus at the Centre for the Study of Global Governance at the London School of Economics and Lord Robert Skidelsky, Emeritus Professor at the University of Warwick. Dr Sudipto Mundel, Emeritus Professor at the National Institute of Public Finance and Policy, gave insights into the little known side of Keynes. Lord Desai, who is also a member of the House of Lords, said while Keynes did develop an elaborate theory on unemployment and underemployment in a state of depression, he, however, did not delve at any great length on the riddle of inflation. He said Keynes spoke about full employment and how demand could be generated to reach this state, the missing link being the present day phenomena in many economies of tackling inflation. Visualising this, classical monetary economists like Milton Friedman put the blame of inflation on the doorsteps of excessive money supply and slow growth for the lack of it. He, however, acknowledged the great contribution that Keynes had made to macroeconomic theory by developing tools of analysis which remain useful till today, such as the investment curve, the consumption function and the concept of Marginal Propensity to Save or its mirror opposite Marginal Propensity to Consume. The other big concepts that Keynes gave to economics included liquidity preference and the Aggregate demand and Aggregate Supply model. Dr Skidelsky said while Keynes did not develop a well worked out theory on inflation, the monetarist school did not give any significant answer to the problem of unemployment, a curse which plagues the developing world and now and then the developed economies. He said Keynesianism has witnessed a remarkable come back in the immediate aftermath of the global financial crisis which witnessed governments the world over instituting fiscal stimulus packages to stop the economic slide getting into depression. The event was organised jointly by the New Delhi-based Shri Ram Centre for Industrial Relations and Human Resources and Federation of Indian Chambers of Commerce and Industry (FICCI). The theme of the seminar was ''Global Economic Crisis: Back to Keynes?''Lord Skidelsky is the celebrated author of the three-volume biography of John Maynard Keynes, entitled ''Keynes:The Return of the Master''. It was during the Great Depression of the 1930s that Keynes in his General Theory had argued for a large scale public works programme to stimulate demand and by doing so had put the Apple Cart upside down of the classical economists who opined that supply will create its own demand or consumption. In a state of depressed economic activity, private enterprise could not be expected to undertake investments due to poor demand. It was thus for the government to step in and create demand by giving employment to people by undertaking huge public works programmes. Lord Desai said during the recent global crisis ''two dogs did not bark''. In India, there was no clamour for going back on liberalisation and integration of the Indian economy with the global economy. Secondly, the Left in Europe did not make a mark anywhere.The entire debate globally centred on reforming the global institutions and economy. The arguments advanced favoured immediate revival of the global economy and also on setting up regulatory mechanisms to bring checks and balances in the system. He said this was also the theme of the G20 meetings in which India played a prominent role and suggested ways and means to step up economic activity relating to the global economy and reform of the international institutions and the prevailing order. Lord Skidelsky described the resort to fiscal stimulus packages by various countries of the world as a ''remarkable second coming back of Kenynesianisms''. He spoke of the ''enduring power of the common sense of Keynes'', for its applicability never ceases to exist. Lord Skidelsky said, ''although the financial crash has been an iconic example of the importance of 'uncertainty' in economic life, the volatility of financial markets, the speed of change of output and the sluggishness of wage and price adjustments, the Keynesian model has not yet been fully rehabilitated. The economist said the present global capitalist set up has been much more favourable to capital than for labour.
By Gurdip Singh
New Delhi, Jan 18 (UNI) It is now a clash of titans from the world of economics on the argument as to whether recent global experience testifies to the exit of Keynesianism or its revival. A scintillating debate on the subject took place at a recent seminar in the capital where divergent views were expressed on the subject by two giants from economics--Lord Meghnad Desai, Professor Emeritus at the Centre for the Study of Global Governance at the London School of Economics and Lord Robert Skidelsky, Emeritus Professor at the University of Warwick. Dr Sudipto Mundel, Emeritus Professor at the National Institute of Public Finance and Policy, gave insights into the little known side of Keynes. Lord Desai, who is also a member of the House of Lords, said while Keynes did develop an elaborate theory on unemployment and underemployment in a state of depression, he, however, did not delve at any great length on the riddle of inflation. He said Keynes spoke about full employment and how demand could be generated to reach this state, the missing link being the present day phenomena in many economies of tackling inflation. Visualising this, classical monetary economists like Milton Friedman put the blame of inflation on the doorsteps of excessive money supply and slow growth for the lack of it. He, however, acknowledged the great contribution that Keynes had made to macroeconomic theory by developing tools of analysis which remain useful till today, such as the investment curve, the consumption function and the concept of Marginal Propensity to Save or its mirror opposite Marginal Propensity to Consume. The other big concepts that Keynes gave to economics included liquidity preference and the Aggregate demand and Aggregate Supply model. Dr Skidelsky said while Keynes did not develop a well worked out theory on inflation, the monetarist school did not give any significant answer to the problem of unemployment, a curse which plagues the developing world and now and then the developed economies. He said Keynesianism has witnessed a remarkable come back in the immediate aftermath of the global financial crisis which witnessed governments the world over instituting fiscal stimulus packages to stop the economic slide getting into depression. The event was organised jointly by the New Delhi-based Shri Ram Centre for Industrial Relations and Human Resources and Federation of Indian Chambers of Commerce and Industry (FICCI). The theme of the seminar was ''Global Economic Crisis: Back to Keynes?''Lord Skidelsky is the celebrated author of the three-volume biography of John Maynard Keynes, entitled ''Keynes:The Return of the Master''. It was during the Great Depression of the 1930s that Keynes in his General Theory had argued for a large scale public works programme to stimulate demand and by doing so had put the Apple Cart upside down of the classical economists who opined that supply will create its own demand or consumption. In a state of depressed economic activity, private enterprise could not be expected to undertake investments due to poor demand. It was thus for the government to step in and create demand by giving employment to people by undertaking huge public works programmes. Lord Desai said during the recent global crisis ''two dogs did not bark''. In India, there was no clamour for going back on liberalisation and integration of the Indian economy with the global economy. Secondly, the Left in Europe did not make a mark anywhere.The entire debate globally centred on reforming the global institutions and economy. The arguments advanced favoured immediate revival of the global economy and also on setting up regulatory mechanisms to bring checks and balances in the system. He said this was also the theme of the G20 meetings in which India played a prominent role and suggested ways and means to step up economic activity relating to the global economy and reform of the international institutions and the prevailing order. Lord Skidelsky described the resort to fiscal stimulus packages by various countries of the world as a ''remarkable second coming back of Kenynesianisms''. He spoke of the ''enduring power of the common sense of Keynes'', for its applicability never ceases to exist. Lord Skidelsky said, ''although the financial crash has been an iconic example of the importance of 'uncertainty' in economic life, the volatility of financial markets, the speed of change of output and the sluggishness of wage and price adjustments, the Keynesian model has not yet been fully rehabilitated. The economist said the present global capitalist set up has been much more favourable to capital than for labour.
TECH-SONY-CAMERA
Gurdip Singh
Sony to increase market share; unveils 22 new camera models
New Delhi, Jan 19 (UNI) Even though the Indian economy is in a slowdown phase with most sectors getting impacted by it, Sony India today announced plans to increase its market share of digital cameras from 42 per cent to 45 per cent by next fiscal, spending Rs 50 crore on marketing strategy.''The market for digital cameras is vibrant and Sony India is continually fuelling this competitive environment by introducing new and innovative products that alter the market landscape,'' company Managing Director Manasaru Tamagawa told UNI. Earlier, Sony India unveiled an innovative product line-up with a total of 22 products for the Indian market. It brought to camera connoisseurs an innovative product line up in 'H', 'S', 'T' and 'W' series Cyber shot cameras. These new cyber-shot cameras are a class apart as they are multi-equipped with revolutionary technologies like 'Sweep Panorama' and HD (High Density) movie.Also, most cameras are equipped with 14 mega-pixel resolution to produce sharper and cleaner pictures. Mr Tamagawa said the company plans to increase the unit sales to 8,00,000 units in 2010-2011, up from the sales figure of 5,50,000 units in financial year 2009-10.He said the introduction of 'sweep panorama' and high density movie technology that ensures a wider consumer audience would be able to experience Sony's technological superior products.The 'sweep panorama' technology allows capturing ultra wide pictures with the huge field of up to 270 degrees.The 'HD movie' feature with the new 720p (1080p high definition movie) shooting capability allows capturing own HD videos at 30 FPS at 1280x720 pixel resolution and share the excitement with one's friends.The sweep panorama and the HD movie technology will be available in a price range between Rs 12,990 to Rs 29,990, capturing a wide customer base.Mr Tamagawa said the compact camera segment in India is currently estimated at 1.3 million units and is expected to grow up to 1.8 million units by financial year 2010-2011.Asked how Sony India plans to increase its market share, he said it will launch an aggressive marketing strategy, opening new sales channel and advertising blitz, entailing television and billboard.Apart from this, it will capture on the growing income of the middle class and the upper classes.Given the high GDP growth, the income of these people are expected to grow in earnest.Sony India's main competitors in the digital camera market are Canon and Nikon.The company plans to enhance the number of exclusive outlets by 30-40, from existing level of 240.Mr Tamagawa said India is the eighth largest market for Sony India, the first being the United States.Cameras are becoming more intelligent where they capture the reality without much involvement of the person taking the picture, he said.The Managing Director said most camera models are available in 14-mega pixel resolution. The company's cameras are manufactured in Japan and China and are imported to India from there.However, software work is done in its unit in Bangalore, even though the company is outsourcing some of its software activities.He said 1,000 top class engineering brains are involved in the software development.Asked as to whether it would like to be linked to the government for its sales, he said that it would like to be a supplier of high definition equipment for the Commonwealth Games to be held this year.In many ways, Sony India is a unique and a successful MNC for neither the deep recession in Japan nor the slowdown in India has impacted its sales. The popularity of its products, even in times like this, continues to surge.
Sony to increase market share; unveils 22 new camera models
New Delhi, Jan 19 (UNI) Even though the Indian economy is in a slowdown phase with most sectors getting impacted by it, Sony India today announced plans to increase its market share of digital cameras from 42 per cent to 45 per cent by next fiscal, spending Rs 50 crore on marketing strategy.''The market for digital cameras is vibrant and Sony India is continually fuelling this competitive environment by introducing new and innovative products that alter the market landscape,'' company Managing Director Manasaru Tamagawa told UNI. Earlier, Sony India unveiled an innovative product line-up with a total of 22 products for the Indian market. It brought to camera connoisseurs an innovative product line up in 'H', 'S', 'T' and 'W' series Cyber shot cameras. These new cyber-shot cameras are a class apart as they are multi-equipped with revolutionary technologies like 'Sweep Panorama' and HD (High Density) movie.Also, most cameras are equipped with 14 mega-pixel resolution to produce sharper and cleaner pictures. Mr Tamagawa said the company plans to increase the unit sales to 8,00,000 units in 2010-2011, up from the sales figure of 5,50,000 units in financial year 2009-10.He said the introduction of 'sweep panorama' and high density movie technology that ensures a wider consumer audience would be able to experience Sony's technological superior products.The 'sweep panorama' technology allows capturing ultra wide pictures with the huge field of up to 270 degrees.The 'HD movie' feature with the new 720p (1080p high definition movie) shooting capability allows capturing own HD videos at 30 FPS at 1280x720 pixel resolution and share the excitement with one's friends.The sweep panorama and the HD movie technology will be available in a price range between Rs 12,990 to Rs 29,990, capturing a wide customer base.Mr Tamagawa said the compact camera segment in India is currently estimated at 1.3 million units and is expected to grow up to 1.8 million units by financial year 2010-2011.Asked how Sony India plans to increase its market share, he said it will launch an aggressive marketing strategy, opening new sales channel and advertising blitz, entailing television and billboard.Apart from this, it will capture on the growing income of the middle class and the upper classes.Given the high GDP growth, the income of these people are expected to grow in earnest.Sony India's main competitors in the digital camera market are Canon and Nikon.The company plans to enhance the number of exclusive outlets by 30-40, from existing level of 240.Mr Tamagawa said India is the eighth largest market for Sony India, the first being the United States.Cameras are becoming more intelligent where they capture the reality without much involvement of the person taking the picture, he said.The Managing Director said most camera models are available in 14-mega pixel resolution. The company's cameras are manufactured in Japan and China and are imported to India from there.However, software work is done in its unit in Bangalore, even though the company is outsourcing some of its software activities.He said 1,000 top class engineering brains are involved in the software development.Asked as to whether it would like to be linked to the government for its sales, he said that it would like to be a supplier of high definition equipment for the Commonwealth Games to be held this year.In many ways, Sony India is a unique and a successful MNC for neither the deep recession in Japan nor the slowdown in India has impacted its sales. The popularity of its products, even in times like this, continues to surge.
ENVIRONMENT-PARIKH-CARBON EMISSION
Gurdip Singh
Copenhagen commitments: India kicks off the process
New Delhi, Jan 20 (UNI) In fulfillment of the commitment given to the global community at the Copenhagen Conference to bring down carbon emissions by 25 per cent by 2020, India today kicked off this process with the expert group on Low Carbon Emissions set up by the Planning Commission commencing its work. The first meeting of the expert group, headed by former Planning Commission member Kirit Parikh, was held at the Yojna Bhavan.Briefing newspersons on the objectives of setting up the expert group, Dr Parikh said the Committee would draw out a roadmap relating to various sectors and ministries on achieving the Copenhagen targets by the country. The interim report would be submitted in April this year and the final report by September 2010. Dr Parikh said data available so far relating to climate change issues was mostly from foreign sources and the committee’s endeavour would be to collect data on various parameters relating to greenhouse gas emissions. Saying that huge investments would be required to bring down carbon emissions by 25 per cent by 2020, Dr Parikh said precise estimates were not available in this regard. The expert committee would make a study of the existing literature in this regard andprovide estimates as far as possible. He said the committee would set up various sub-groups to go into the question of reducing the emission levels. Dr Parikh said the committee would take a long term view of the issues and not confine itself to the Eleventh Plan (2007-11) horizon. It’s perspective would be to look at the Twelfth or 13th Plan period. The body would also look at emissions level in the agricultural sector, though he admitted that bringing down methane levels was a difficult task. Dr Parikh said the country has been switching over to green technologies to bring down carbon emissions. In this regard, he said in 1971 India’s emission level was 8.33 per cent, which has been brought down to 0.17 per cent. Dr Parikh clarified that there was no firm commitment given by India at Copenhagen, but a reiteration of the attempt and efforts that the country would make to achieve the goal of 25 per cent reduction in greenhouse gas emissions. The members of the committee are as follows: Nitin Desai, former Under secretary General, Economic & Social Affairs, United Nations; Mr Ajay Mathur, Bureau of Energy Efficiency member; Mr Rakesh Nath, Central Electricity Authority; Mr R S Paroda, former DG, ICAR; Dr Amit Mitra, FICCI; Mr Chandrajit Banerjee, CII; Mr Jamshed Irani, Tata Sons; Mr Jamshed Godrej, CII, Climate Change Council, Mr Pavan Goenka, SIAM; Mr Tulsi Tanti, Suzlon Energy; Mr Deepak Puri, Moser Baer; Mr Prem C Jain, Green Building Council; Mr Anand Patwardhan, IIT Mumbai; Dr Ambuj Sagar, IIT, Delhi; Mr Navroz Dubash, Centre for Policy Research; Mr D Raghunandan, Delhi Science Forum; Mr Anshu Bharadwaj, C-STEP, Mr Girish Sant, Prayas; Ms Ritu Mathur, TERI; Mr Jagdish Kishwan, PCCF; Mrs U Sankar, Madras School of Economics; Mr Varad Pande, Ministry of Environment & Forests and Mr Arunish Chawla.
Copenhagen commitments: India kicks off the process
New Delhi, Jan 20 (UNI) In fulfillment of the commitment given to the global community at the Copenhagen Conference to bring down carbon emissions by 25 per cent by 2020, India today kicked off this process with the expert group on Low Carbon Emissions set up by the Planning Commission commencing its work. The first meeting of the expert group, headed by former Planning Commission member Kirit Parikh, was held at the Yojna Bhavan.Briefing newspersons on the objectives of setting up the expert group, Dr Parikh said the Committee would draw out a roadmap relating to various sectors and ministries on achieving the Copenhagen targets by the country. The interim report would be submitted in April this year and the final report by September 2010. Dr Parikh said data available so far relating to climate change issues was mostly from foreign sources and the committee’s endeavour would be to collect data on various parameters relating to greenhouse gas emissions. Saying that huge investments would be required to bring down carbon emissions by 25 per cent by 2020, Dr Parikh said precise estimates were not available in this regard. The expert committee would make a study of the existing literature in this regard andprovide estimates as far as possible. He said the committee would set up various sub-groups to go into the question of reducing the emission levels. Dr Parikh said the committee would take a long term view of the issues and not confine itself to the Eleventh Plan (2007-11) horizon. It’s perspective would be to look at the Twelfth or 13th Plan period. The body would also look at emissions level in the agricultural sector, though he admitted that bringing down methane levels was a difficult task. Dr Parikh said the country has been switching over to green technologies to bring down carbon emissions. In this regard, he said in 1971 India’s emission level was 8.33 per cent, which has been brought down to 0.17 per cent. Dr Parikh clarified that there was no firm commitment given by India at Copenhagen, but a reiteration of the attempt and efforts that the country would make to achieve the goal of 25 per cent reduction in greenhouse gas emissions. The members of the committee are as follows: Nitin Desai, former Under secretary General, Economic & Social Affairs, United Nations; Mr Ajay Mathur, Bureau of Energy Efficiency member; Mr Rakesh Nath, Central Electricity Authority; Mr R S Paroda, former DG, ICAR; Dr Amit Mitra, FICCI; Mr Chandrajit Banerjee, CII; Mr Jamshed Irani, Tata Sons; Mr Jamshed Godrej, CII, Climate Change Council, Mr Pavan Goenka, SIAM; Mr Tulsi Tanti, Suzlon Energy; Mr Deepak Puri, Moser Baer; Mr Prem C Jain, Green Building Council; Mr Anand Patwardhan, IIT Mumbai; Dr Ambuj Sagar, IIT, Delhi; Mr Navroz Dubash, Centre for Policy Research; Mr D Raghunandan, Delhi Science Forum; Mr Anshu Bharadwaj, C-STEP, Mr Girish Sant, Prayas; Ms Ritu Mathur, TERI; Mr Jagdish Kishwan, PCCF; Mrs U Sankar, Madras School of Economics; Mr Varad Pande, Ministry of Environment & Forests and Mr Arunish Chawla.
ENERGY-ONGC-CITY GAS DISTRIBUTION
Gurdip Singh
ONGC not to enter LNG retail, but leaves issue open
New Delhi, Jan 21 (UNI) ONGC Chairman and Managing Director R S Sharma today announced a proposal to sign a wide ranging MoU with Bharat Petroleum Corporation Ltd for gas and liquefied natural gas (LNG) business, but ruled out immediately entering into city gas distribution of LNG and other products.Addressing a press conference here, Mr Sharma, however, did not exclude the possibility of the country's largest oil explorer getting into the retail business of these products.''In course of time, we will take a call on this,'' the CMD said.''It is a dynamic situation. We look at business proposition in a dynamic context. At present, the business environment is not very conducive. If the situation changes, we may consider entering into retail (city gas distribution),'' Mr Sharma said. The ONGC Board, which met this morning to approve the financial results of the company, approved the draft of the MoU to be entered with BPCL for cooperation in gas and LNG business.The proposed MoU aims for mutual cooperation between the two state-owned PSUs in the area of gas and LNG business, city gas distribution and pipeline network as well as C3 and C4 offtakes.Mr Sharma said as per the MoU, while ONGC will buy naptha from BPCL, the latter would buy C2 plus gas.
ONGC not to enter LNG retail, but leaves issue open
New Delhi, Jan 21 (UNI) ONGC Chairman and Managing Director R S Sharma today announced a proposal to sign a wide ranging MoU with Bharat Petroleum Corporation Ltd for gas and liquefied natural gas (LNG) business, but ruled out immediately entering into city gas distribution of LNG and other products.Addressing a press conference here, Mr Sharma, however, did not exclude the possibility of the country's largest oil explorer getting into the retail business of these products.''In course of time, we will take a call on this,'' the CMD said.''It is a dynamic situation. We look at business proposition in a dynamic context. At present, the business environment is not very conducive. If the situation changes, we may consider entering into retail (city gas distribution),'' Mr Sharma said. The ONGC Board, which met this morning to approve the financial results of the company, approved the draft of the MoU to be entered with BPCL for cooperation in gas and LNG business.The proposed MoU aims for mutual cooperation between the two state-owned PSUs in the area of gas and LNG business, city gas distribution and pipeline network as well as C3 and C4 offtakes.Mr Sharma said as per the MoU, while ONGC will buy naptha from BPCL, the latter would buy C2 plus gas.
ENERGY-MRPL-PETROL
Gurdip Singh
MRPL not to enter into retail sale of petrol
New Delhi, Jan 21 (UNI) Mr R S Sharma, Chairman of MRPL and CMD of ONGC, today ruled out getting into the business of retail selling of petrol. Addressing a press conference here, Mr Sharma said the existing business circumstances do not make good proposition to set up petrol pumps.He attributed this to the government's decision to subsidise under-recoveries to just three state-run oil marketing companies, namely Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd.Given the wide gulf between international prices of crude and domestic sale of petrol and petroleum products, it does not make good business sense to invest in setting up petrol pumps.Mangalore Refinery and Petrochemicals Ltd is a subsidiary of ONGC which has about 72 per cent stake in the refinery.As a consequence of this wide difference, two private players--Reliance Industries Ltd and Essar Oil-- had to shut down their petrol pumps when international prices of crude oil touched the roof. It had become unviable for RIL and Essar Oil to sell petrol in the retail faced with competition from state-run companies selling oil at discounted price. With a sobering of global crude oil prices, RIL has reopened some of its petrol pumps.Mr Sharma made these remarks while addressing a press conference to announce ONGC Q3 results, but did not hesitate to take on questions relating to the MRPL.
MRPL not to enter into retail sale of petrol
New Delhi, Jan 21 (UNI) Mr R S Sharma, Chairman of MRPL and CMD of ONGC, today ruled out getting into the business of retail selling of petrol. Addressing a press conference here, Mr Sharma said the existing business circumstances do not make good proposition to set up petrol pumps.He attributed this to the government's decision to subsidise under-recoveries to just three state-run oil marketing companies, namely Indian Oil Corporation Ltd, Bharat Petroleum Corporation Ltd and Hindustan Petroleum Corporation Ltd.Given the wide gulf between international prices of crude and domestic sale of petrol and petroleum products, it does not make good business sense to invest in setting up petrol pumps.Mangalore Refinery and Petrochemicals Ltd is a subsidiary of ONGC which has about 72 per cent stake in the refinery.As a consequence of this wide difference, two private players--Reliance Industries Ltd and Essar Oil-- had to shut down their petrol pumps when international prices of crude oil touched the roof. It had become unviable for RIL and Essar Oil to sell petrol in the retail faced with competition from state-run companies selling oil at discounted price. With a sobering of global crude oil prices, RIL has reopened some of its petrol pumps.Mr Sharma made these remarks while addressing a press conference to announce ONGC Q3 results, but did not hesitate to take on questions relating to the MRPL.
ENERGY-ONGC-LEAD RESULTS
Gurdip Singh
ONGC Q3 net up 23.38pc;to invest Rs 2,163cr in Mumbai offshore field
New Delhi, Jan 21 (UNI) Notwithstanding under-recoveries to the tune of Rs 3,497 crore in the third quarter of the current fiscal,Oil & Natural Gas Corporation Ltd (ONGC) today announced a net profit of Rs 3,054 crore in the quarter, up by 23.39 per cent over the same period previous year.In Q3FY09, the net profit figures stood at Rs 2,475 crore. Briefing newspersons on the financial results, ONGC CMD R S Sharma expressed the hope that the profit and other figures will meet the expectations of stock markets.Its total sales, including the sale of MRPL products, recorded a respectable 22.77 per cent growth with the Q3 figure standing at Rs 15,373 crore, up from Rs 12,521 crore.The earnings per share were Rs 14.28 in Q3FY10 as compared to Rs 11.57 in Q3FY09, which is an increase of 23.4 per cent.While the gross subsidy discounts was to the tune of Rs 3,497 crore in Q3FY10 as compared to Rs 4,899 crore in Q3FY09.The gross realisation of crude price was 76.66 dollars a barrel in Q3FY10 as compared to 58.87 dollars a barrel in Q3FY09, an increase of 30.2 per cent.After a subsidy discount of 18.97 dollars a barrel, the net realisation of crude oil stood at 57.69 dollars per barrel in the third quarter of this fiscal.The Board of Directors, which approved the financial results of the country's largest oil explorer this morning, also approved two investment proposals and an MoU with Bharat Petroleum Corporation Ltd (BPCL).One of the projects entails an investment of Rs 2,163.65 crore for integrated development of D1 marginal field in Mumbai offshore.It is to be completed within 27 months from the date of award. Peak envisaged oil production from D1 field is expected to be about 36,000 barrels of oil per day (bopd) during 2012-13, with an aggregate incremental oil production of 8.296 MMT over the base production profile.The second approval relates to acquisition of a new Multi Support Vessel (MSV) for Rs 723.64 crore.At present, the company has a fleet of four MSVs, out of these two MSVs are owned by ONGC and two MSVs are hired.The scheduled date of commissioning of this MSV is September 2012.The ONGC Board also approved the draft of the Memorandum of Understanding (MoU) to be entered with BPCL for wide ranging cooperation in gas and LNG business.
ONGC Q3 net up 23.38pc;to invest Rs 2,163cr in Mumbai offshore field
New Delhi, Jan 21 (UNI) Notwithstanding under-recoveries to the tune of Rs 3,497 crore in the third quarter of the current fiscal,Oil & Natural Gas Corporation Ltd (ONGC) today announced a net profit of Rs 3,054 crore in the quarter, up by 23.39 per cent over the same period previous year.In Q3FY09, the net profit figures stood at Rs 2,475 crore. Briefing newspersons on the financial results, ONGC CMD R S Sharma expressed the hope that the profit and other figures will meet the expectations of stock markets.Its total sales, including the sale of MRPL products, recorded a respectable 22.77 per cent growth with the Q3 figure standing at Rs 15,373 crore, up from Rs 12,521 crore.The earnings per share were Rs 14.28 in Q3FY10 as compared to Rs 11.57 in Q3FY09, which is an increase of 23.4 per cent.While the gross subsidy discounts was to the tune of Rs 3,497 crore in Q3FY10 as compared to Rs 4,899 crore in Q3FY09.The gross realisation of crude price was 76.66 dollars a barrel in Q3FY10 as compared to 58.87 dollars a barrel in Q3FY09, an increase of 30.2 per cent.After a subsidy discount of 18.97 dollars a barrel, the net realisation of crude oil stood at 57.69 dollars per barrel in the third quarter of this fiscal.The Board of Directors, which approved the financial results of the country's largest oil explorer this morning, also approved two investment proposals and an MoU with Bharat Petroleum Corporation Ltd (BPCL).One of the projects entails an investment of Rs 2,163.65 crore for integrated development of D1 marginal field in Mumbai offshore.It is to be completed within 27 months from the date of award. Peak envisaged oil production from D1 field is expected to be about 36,000 barrels of oil per day (bopd) during 2012-13, with an aggregate incremental oil production of 8.296 MMT over the base production profile.The second approval relates to acquisition of a new Multi Support Vessel (MSV) for Rs 723.64 crore.At present, the company has a fleet of four MSVs, out of these two MSVs are owned by ONGC and two MSVs are hired.The scheduled date of commissioning of this MSV is September 2012.The ONGC Board also approved the draft of the Memorandum of Understanding (MoU) to be entered with BPCL for wide ranging cooperation in gas and LNG business.
CABINET-RURAL AREAS-URBAN AMENITIES
Gurdip Singh
CCEA nod scheme on provisions of urban amenities in rural areasNew Delhi,
Jan 21 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved the implementation of a Scheme for 'Provision of Urban Amenities in Rural Areas' (PURA) on a pilot basis with a plan outlay of Rs 248 crore during Eleventh five-year plan. The fund will be utilised for providing capital grant up to 35 per cent of the pilot project to meet the viability gap for operations and maintenance (including investment by a private party) in Public Private Partnership (PPP) mode after dovetailing funds from otherCentral Schemes and investment from private developers. The implementation of the restructured scheme in the manner proposed as an innovative initiative being taken for the first time in rural areas. Through the implementation of proposed pilot projects, the unique features of this scheme could be tested on the ground and would enable its upscaling in future. The primary objectives of the scheme are provision of livelihood opportunities and urban amenities in rural area to bridge the rural-urban divide, thereby reducing the migration from rural to urban areas. A distinguishing feature of the scheme is its implementation under a Public-Private Partnership (PPP) framework. The core funding will be ensured from the Central Sector Scheme of PURA complemented by additional support through prioritized convergence of Central Government programmes, funding or managerial support from the private sector and participation of the local Panchayats. The scheme would be implemented and managed by the private sector on viability and sustainability considerations which shall be fully aligned with the overall objective of rural development. This framework of bringing together public funds and private capital into creation of infrastructure in rural areas and leveraging upon private sector expertise to manage and maintain the same during the concession period, forms the essence of there-structured PURA Scheme. Under the scheme, there is a provision for capital grant to a maximum of 35 per cent of the project cost. Seven to eight pilot projects would be taken up during the Eleventh five year plan. In order to assure constructive commitment of the stakeholders, separate agreements will be entered into between the stakeholders namely, Concession Agreement (between Gram Panchayat and private developer) and a State Support Agreement (among the Central Government, State Government and the private developer).
CCEA nod scheme on provisions of urban amenities in rural areasNew Delhi,
Jan 21 (UNI) The Cabinet Committee on Economic Affairs (CCEA) today approved the implementation of a Scheme for 'Provision of Urban Amenities in Rural Areas' (PURA) on a pilot basis with a plan outlay of Rs 248 crore during Eleventh five-year plan. The fund will be utilised for providing capital grant up to 35 per cent of the pilot project to meet the viability gap for operations and maintenance (including investment by a private party) in Public Private Partnership (PPP) mode after dovetailing funds from otherCentral Schemes and investment from private developers. The implementation of the restructured scheme in the manner proposed as an innovative initiative being taken for the first time in rural areas. Through the implementation of proposed pilot projects, the unique features of this scheme could be tested on the ground and would enable its upscaling in future. The primary objectives of the scheme are provision of livelihood opportunities and urban amenities in rural area to bridge the rural-urban divide, thereby reducing the migration from rural to urban areas. A distinguishing feature of the scheme is its implementation under a Public-Private Partnership (PPP) framework. The core funding will be ensured from the Central Sector Scheme of PURA complemented by additional support through prioritized convergence of Central Government programmes, funding or managerial support from the private sector and participation of the local Panchayats. The scheme would be implemented and managed by the private sector on viability and sustainability considerations which shall be fully aligned with the overall objective of rural development. This framework of bringing together public funds and private capital into creation of infrastructure in rural areas and leveraging upon private sector expertise to manage and maintain the same during the concession period, forms the essence of there-structured PURA Scheme. Under the scheme, there is a provision for capital grant to a maximum of 35 per cent of the project cost. Seven to eight pilot projects would be taken up during the Eleventh five year plan. In order to assure constructive commitment of the stakeholders, separate agreements will be entered into between the stakeholders namely, Concession Agreement (between Gram Panchayat and private developer) and a State Support Agreement (among the Central Government, State Government and the private developer).
CABINET-HORTICULTURE MISSION-EXPANSION
Gurdip Singh
CCEA approves new interventions in National Horticulture MissionNew
Delhi, Jan 21 (UNI) The Cabinet Committee on Economic Affairs(CCEA) today approved new interventions in the Centrally Sponsored Scheme on National Horticulture Mission (NHM) to include items like High Density Plantation. Besides, the cost norms of some of the activities like setting up of nurseries, area expansion, rejuvenation programmes and protected cultivation have been revisited and revised to provide better incentives to the farmers for adopting improved technologies and cultivars. Apart from this, the cost norms and pattern of assistance for post harvest management (PHM) have been enhanced to encourage private sector participation in building PHM infrastructure. The mission was launched during the Tenth Five Year Plan and the expansion of the Mission is valid for the Eleventh Plan period. An outlay of Rs 10,363.46 crore, with Government of India's share of Rs 8,809 crore (85 per cent) has been proposed for implementing the Scheme during the Eleventh Five Year Plan.The focus of the Mission, in its revised form, will be on creating forward linkages in terms of PHM and marketing infrastructure, both in the public and private sectors,involving pack houses/on farm collection centres, cold storage units and Controlled Atmosphere (CA) storages. The major outcome of the NHM will be as under:-- Infrastructure facilities for primary processing and marketing of horticultural produce will be set up to meet and handle increased production and about 600 markets, including wholesale and rural markets, will be set up during the Plan period. Besides, about 6,200 PHM infrastructure facilities will also be created.-- About 15.83 lakh hectares of land will be brought under horticulture crops through area expansion and 5.20 lakh hectares of old and senile orchards will be rejuvenated.--About 2,500 new nurseries will be established in addition to revitalising existing ones for making available good quality planting material;-- Organic farming along with certification will be taken up in 2.21 lakh hectare area. Besides, Integrated Pest Management (IPM) and Integrated Nutrient Management (INM) will be taken up in 15 lakh hectares. About 8,235 water harvesting structures, both community and individual, will be constructed to augment ground water sources and provide irrigation to horticulture crops.-- Approximately, 475 million man days of employment is expected to be generated during the Plan period though the interventions of the scale envisaged. This implies additional employment to about 16 lakh people on regular basis. The NHM envisages holistic development of the horticulture sector by ensuring horizontal and vertical linkages with the active participation of all thestakeholders. All the States and Union Territories are covered under the Mission except the eight North Eastern States including Sikkim and the States of Jammu & Kashmir, Himachal Pradesh and Uttaranchal which have been covered under the Technology Mission for Integrated Development of Horticulture in the North Eastern States (TMNE). Under the Scheme, a cluster-based approach was adopted for covering potential horticultural crops in 344 districts out of 476 districts in 18 States and two Union Territories. Since the inception of the Scheme, Rs 3,503.12 crore was released up to 2008-09 against which an expenditure of Rs 3,072.92 crore has been incurred. The implementation of the Scheme has brought an area of 12.61 lakh hectares under horticultural crops with development of 1,217 PHM units, 59 markets and 294 scientific infrastructural facilities.
ONGC takes call: Save India's cultural heritage, it's too precious
By Gurdip Singh & Shabbir Ahmed
New Delhi, Jan 22 (UNI) Foreigners often wonder at the deplorable state of India's monuments, many of them now in a state of decay with poor upkeep, notwithstanding their formidable historical importance. There is a strong view among intellectuals that if the country were to maintain its monuments and other cultural heritage, it would be on the world map of tourism.The Romans love their relics and every evening a huge mass of people gather at these monuments to get a glimpse of what the Roman Empire was like.The British too are known to relish their history, culture and their glorious past, with London being a testimony to this. The reasons are not too far to see, for they not too long back ruled nearly half the world. So are the Egyptians too proud of their ancestry as are many other countries of the world. Indian culture which travelled far and wide is a paradoxical quagmire. For it may seem strange that countries to where it travelled have a better sense of maintaining monuments that draw inspiration from India's culture. An example of this are the Angkor Vat temples in Cambodia, which have pictorial drawings of 'Hanuman', a disciple of Lord Rama who was a monkey.They also have scenes from 'Ramayana,' the narration of Lord Rama's 14-year exile in wilderness. But there is a growing realisation, including among corporates, that Samaritans will do a yeomen service, if they get into the business of saving the precious cultural heritage of the wonder that is India.A proud Oil & Natural Gas Corporation, the country's largest oil explorer, last evening announced plans of restoration and conservation of monuments of Ahom Kings at Sibsagar in Assam.The other identified sites that ONGC will take up for the purpose in the areas are Ranghar Ruins, Karenghar, Garhgaon and group of maidams. ONGC CMD R S Sharma said that the company has set apart two per cent of its Profit After Tax (PAT) for activities relating to Corporate Social Responsibility (CSR).The amount would roughly work out to be Rs 300 crore plus and entail activities like education and health.Recently, it entered into providing hemophilic services, a tragic condition where blood of a patient does not clot normally.The oil major, whose profits were of the order of Rs 3,054 crore for the third quarter of the current financial year, recently entered into a Memorandum of Cooperation (MoC) with National Cultural Fund, a trust under the Ministry of Culture of the Government of India.As per the agreement, ONGC is to take up various projects for conservation and restoration of culture and heritage. As per the MoC, the first project that is to be taken up is for the conservation, renovation and restoration of the monuments of Ahom Kings.Mr Sharma confessed that the CSR activities of the company have so far been 'adhoc' in nature, but ONGC has decided to put these on a sound footing.For this purpose, a core group at the level of the company has been set up to work out various details.The Assam project is to be implemented in cooperation with the Archaeological Survey of India and the company has sought details from the preservator for appointment of architectural and other consultants. Mr Sharma said ONGC was in talks with the State Government for restoration of these monuments.The head of ONGC gave two important reasons as to why Assam, one of the seven sisters of the North Eastern States, was chosen for the purpose. First, it has exploration business in the operational area in Sibsagar. Secondly, there were wild rumours that ONGC is selling its business to a private corporate entity.With a view to establishing facts to the contrary, ONGC decidedto take upthe work of maintenance of these monuments.Bathed in the scenic splendour of nature, Sibsagar now throbs with the activities of a full-fledged industrial town. Nevertheless, the district can still conjure up images of historic wonder and obtained its pinnacle during the reign of Ahom Kings. This is the place from which the 'Ahoms' ruled the province of Assam from 1228 to 1826.At present, Sibsagar presents the unique spectacle of industrial transformation of a silent town in the backdrop of relics of bygone days. Situated at a distance of 350 km from Guwahati, the capital of Assam, Sibsagar (earlier known as Rongpur) was the capital of the Ahom Kingdom since 1699 to 1788. The town, dedicated to Lord Siva--its name literally meaning the ocean of Shiva--is strewn with tell-tale ruins of a powerful empire. There is growing consciousness among the corporate world to get into the act of preserving cultural heritage.Recently, Associate Chambers of Commerce and Industry (ASSOCHAM) announced plans for maintenance of monuments and other cultural activities.The apex chamber, which obviously focuses on lobbying for corporate interests, recently saw a change of guard.Ms Swati Piramal of the famous Piramal Industries has changed both the agenda and the profile of the activities of the chamber.Ms Piramal, President of Assocham, has brought in women at the helm of 75 per cent of its Committees. The imaginative lady has brought into its fold programmes like breast feeding and maintenance of culture.Cairn India, a private sector oil exploration firm, set up a platform in the capital to sell the wears of fine craftsmen from the district of Barmer, a desert area, in Rajasthan. And yet Barmer is colourful because of its handicraft.The others who held hands with Cairn included International Finance Corporation (IFC), the private sector funder of the World Bank, and Access Development Services, a livelihood promotion agency.Any number of top notch companies sponsor programmes like Indian classical dance, photography, paintings and what have you.This has led to another worry as to whether India's culture will become too dependent for money for its preservation and maintenance.If it does so, it may lose its originality and become too commercialised.Being a developing country, resources are always a constraint.The government's record on maintenance of monuments leaves much to be desired.It is, thus, both a matter of glory as also a source of concern that corporates are coming forward to saving India's cultural heritage.But then what else is the solution? The puritans of culture will have to find the answer.
Wednesday, January 20, 2010
Pravasis hum with love for India and the rest is love from India
Gurdip Singh
New Delhi
If the feelings of the Indian diaspora, many of whom were here in connection with a recent national conference, are to be summed up then this can best be done by quoting two popular songs from the Bollywood-- 'I love my India' and 'Maa Tujhe Salaam.' Even third or fourth generation people of Indian origin speak with as much passion about the country of their origin as those who left the shores of this continental dimensional country not too far back. Neverthless, the patriotic fervor and the feelings for its prosperity and development, with which they are nourished is universal among the diaspora. India never dies inside them, no matter where they go and what they do. In a sense, the umblical chord never breaks. So intense is the power of this country over human beings who have links with it, notwithstanding the many pitfalls it has. This was all too apparent from conversations with the diaspora who were in the capital to attend the 'Pravasi Bhartiya Divas' and another conference on the sidelines entitled 'Pavasi Divas' organised by the New Delhi based NRI Institute.
"India is our motherland. We have a blood relation with India," says Mr Mukeshwar Chonee, High Commissioner of Mauritus. Mauritius, a small country in the Indian Ocean, has 70 per cent of its population which is of Indian origin. Of its 12 lakh inhabitants, eight lakh are from India. Mr Chonee says India is viewed with admiration by Mauritians and as a country which will be a formidable force in future. He feels that Indo-Mauritian relations are poised to leapfrog in future into a formidable force. ''Maa Tujhe Salaam'' is a popular song by A R Rehman from his album 'Vande Matram'. 'I love my India' is another popular number from Subash Ghai's 'Pardes.' It's music was directed by Nadeem Shravan and the song was sung by the four powerful voices-- Kavita Krishnamuthy, Hariharan, Shankar Mahdevan and Aditya Narayan. The songs have a hair raising quality about them and fill one with immense patriotic zeal and emotional feelings relating to the wonder that is India. 'I love my India' says that one has seen London, Paris and Japan, but there is no country like India. Mr Chonee quotes a story relating to Mahatama Gandhi's visit to his country. In 1901 on his way back to India, Gandhji had a stopover in Mauritius.
During his three-week visit, he acquainted himself with the local conditions of that country and the constions of the Indian indentured labour. He then requested his friend, Manilal Doctor, a lawyer by profession, to work for the political and social emancipation of the Mauritian workers. Mr Chonee is not alone in expressing these sentiments towards India. The large number of people from across the globe who joined him in this chrous at the NRI conference were as passionate. Here are some other names. President GOPIO International, Sri Lanka P P Devraj, The Chairman GOIO International, Mauritius, Mr Mahen Utchanah, Baroness Sandeep Verma from the United Kingdom, Editor-in- Chief New Global Indian, United States, Mr Kanchan Banerjee, Ms Ela Gandhi from South Africa, and Mr Mahyendra Utchana, Chairman Gopio International. GOPIO International stands for 'Global Organisation of People of Indian Origin(GOPIO),' whose aim is to unite people from diverse fields and diverse countries and to highlight their problems to the global community. Says founder of the NRI Institute Jagmohan Singh the one big message that the conference sent out was that they expected the Indian government to play a more pro-active role in projecting the problems faced by the diaspora to international bodies and eliminating the hurdles which will enable them to better invest in the country. Some of the issues that were highlghted at the event included the problem of Sikhs not being allowed to wear turbans in France, the problems that Indians face in Malaysia and the attack on Indians in Australia. They wanted the Indian media to play a more responsible role in projecting these and were of the view that reporting has often been lop-sided. The other message that emerged from the conference is that Bollywood has spread to every nook and corner of the world, women want a better deal for themselves across the board, India's prestige has been enhanced not only by its high growth but also by the credible work that Indians are doing everywhere, especially the scientific and professional work that they are doing in the country of their adoption, that every thing is not honky dory about Indians settled abroad and that there are a large number of Indians who are involved in low value jobs like masons, carpenters, small time traders, shop assistants and what have you. Then there are rags to riches stories like Mr Gurdial Singh from France, who started from a scratch some three decades ago and after an intiial stint as a builder, he now has a string of institutes dedicated to imparting management. He still wears a dark blue turban and carries a 'kirpan'(sword) with him always. His dress code reflects his adherence to the principles of Sikhism in pure form. Mr Gurdial Singh is now in the forefront of getting justice for Sikhs in France as in official documents they are pictured without the turban. Students have been thrown out of schools as they refused to attend their teaching institutes without the turban. After the French courts did not give a judgement in favour of the Sikhs, Gurdwara Singh Sabha in Paris, in which Mr Gurdial Singh is an important member, is now knocking the doors of the United Nations. Mr Gurdial Singh regrets that the Indian government has done little for the cause and charges that Prime Minister Manmohan Singh, despite being a Sikh, has not even given them an audience. Who will be their Godfather then? The diaspora wants more organisations like the NRI Institute to help build networks and muster support for their problems with the Indian government. The diaspora is impacted by the culture of the countries they adopt, but they also give something to the culture of the country they adopt. A case in point is the centrality of Southhall, a place dominated by Indians, in the United Kingdom. The locals begin to like Indian foods and music and admire the discipline parents impart to their children. The British visit Hindu temples and sing 'Bhajans' (religious songs) like the Hindus. The diaspora faces problems of assimilation in many countries and there are frequent reports of Indians being treated as second class citizens. In a way the melting pot has nowhere melted. Many years ago, Indian women had to undergo a virginity test to get visas for the United Kingdom. The practise was given up after much hue and cry in the Indian media. The colonial hangover never goes. In countries like South Africa, the black population considers India as a friend for the frontranking role that India played in getting rid of the apartheid regime and liberation from the oppressive regime. It is a well known fact that Nelson Mandela is an ardent admirer of Mahatama Gandhi and like him, he became an apostle of peace. The one figure that is universally reverred is the Mahatma or the father of the Indian nation as he is popularly known. The diaspora also faces a problem in finding grooms and bridegrooms for their children and fears that they may lose their culture and their traditional value system. Says Mr Chonee whether the subsequent generations will or will not lose their value system will depend upon the 'sanskar'(values) that parents impart in their children. Says Mr Utchanah, ''the year 2010 will be a very big year for GOPIO International, as we will be celebrating the 10th GOPIO Convention in Durban, South Africa, from March 28 to April 2. This is also to mark the 150 years of the arrival of Indians in South Africa. It is a year of celebration of South Africa." The diaspora has many marks left on its body. The ships from Calcutta, now known as Kolkata, which brought indebentured labour to Mauritius. The similar tragic immigration of Indians to countries such as British Guiana, Jamaica and Trinidad and Tobago. People from Trinidad and Tobago sing 'Ramayana' in a manner that it will touch the soul at its deepest--as much of traditional Hindus as modern Indians with an equal force. "It is India's century. India is all over the globe as are its people. The one common fabric which joins them is their relation with this democratic and fast growing nation. Life is not all material, many things are matters of the heart," says Mr Jagmohan Singh, the veteran figure who continues to be the force behind the NRI Institute. Relationship of the country and the diaspora is not a one way street. The paradox is that Indian parents want their children to go abroad to make hay. Once gone, they lead a miserable life without them, especially when they are old, often with no one to care for them. To be or not be is then the question. Nevertheless, their imbibing and everlasting song of all is; 'I love my India,' for who lives if India dies.
New Delhi
If the feelings of the Indian diaspora, many of whom were here in connection with a recent national conference, are to be summed up then this can best be done by quoting two popular songs from the Bollywood-- 'I love my India' and 'Maa Tujhe Salaam.' Even third or fourth generation people of Indian origin speak with as much passion about the country of their origin as those who left the shores of this continental dimensional country not too far back. Neverthless, the patriotic fervor and the feelings for its prosperity and development, with which they are nourished is universal among the diaspora. India never dies inside them, no matter where they go and what they do. In a sense, the umblical chord never breaks. So intense is the power of this country over human beings who have links with it, notwithstanding the many pitfalls it has. This was all too apparent from conversations with the diaspora who were in the capital to attend the 'Pravasi Bhartiya Divas' and another conference on the sidelines entitled 'Pavasi Divas' organised by the New Delhi based NRI Institute.
"India is our motherland. We have a blood relation with India," says Mr Mukeshwar Chonee, High Commissioner of Mauritus. Mauritius, a small country in the Indian Ocean, has 70 per cent of its population which is of Indian origin. Of its 12 lakh inhabitants, eight lakh are from India. Mr Chonee says India is viewed with admiration by Mauritians and as a country which will be a formidable force in future. He feels that Indo-Mauritian relations are poised to leapfrog in future into a formidable force. ''Maa Tujhe Salaam'' is a popular song by A R Rehman from his album 'Vande Matram'. 'I love my India' is another popular number from Subash Ghai's 'Pardes.' It's music was directed by Nadeem Shravan and the song was sung by the four powerful voices-- Kavita Krishnamuthy, Hariharan, Shankar Mahdevan and Aditya Narayan. The songs have a hair raising quality about them and fill one with immense patriotic zeal and emotional feelings relating to the wonder that is India. 'I love my India' says that one has seen London, Paris and Japan, but there is no country like India. Mr Chonee quotes a story relating to Mahatama Gandhi's visit to his country. In 1901 on his way back to India, Gandhji had a stopover in Mauritius.
During his three-week visit, he acquainted himself with the local conditions of that country and the constions of the Indian indentured labour. He then requested his friend, Manilal Doctor, a lawyer by profession, to work for the political and social emancipation of the Mauritian workers. Mr Chonee is not alone in expressing these sentiments towards India. The large number of people from across the globe who joined him in this chrous at the NRI conference were as passionate. Here are some other names. President GOPIO International, Sri Lanka P P Devraj, The Chairman GOIO International, Mauritius, Mr Mahen Utchanah, Baroness Sandeep Verma from the United Kingdom, Editor-in- Chief New Global Indian, United States, Mr Kanchan Banerjee, Ms Ela Gandhi from South Africa, and Mr Mahyendra Utchana, Chairman Gopio International. GOPIO International stands for 'Global Organisation of People of Indian Origin(GOPIO),' whose aim is to unite people from diverse fields and diverse countries and to highlight their problems to the global community. Says founder of the NRI Institute Jagmohan Singh the one big message that the conference sent out was that they expected the Indian government to play a more pro-active role in projecting the problems faced by the diaspora to international bodies and eliminating the hurdles which will enable them to better invest in the country. Some of the issues that were highlghted at the event included the problem of Sikhs not being allowed to wear turbans in France, the problems that Indians face in Malaysia and the attack on Indians in Australia. They wanted the Indian media to play a more responsible role in projecting these and were of the view that reporting has often been lop-sided. The other message that emerged from the conference is that Bollywood has spread to every nook and corner of the world, women want a better deal for themselves across the board, India's prestige has been enhanced not only by its high growth but also by the credible work that Indians are doing everywhere, especially the scientific and professional work that they are doing in the country of their adoption, that every thing is not honky dory about Indians settled abroad and that there are a large number of Indians who are involved in low value jobs like masons, carpenters, small time traders, shop assistants and what have you. Then there are rags to riches stories like Mr Gurdial Singh from France, who started from a scratch some three decades ago and after an intiial stint as a builder, he now has a string of institutes dedicated to imparting management. He still wears a dark blue turban and carries a 'kirpan'(sword) with him always. His dress code reflects his adherence to the principles of Sikhism in pure form. Mr Gurdial Singh is now in the forefront of getting justice for Sikhs in France as in official documents they are pictured without the turban. Students have been thrown out of schools as they refused to attend their teaching institutes without the turban. After the French courts did not give a judgement in favour of the Sikhs, Gurdwara Singh Sabha in Paris, in which Mr Gurdial Singh is an important member, is now knocking the doors of the United Nations. Mr Gurdial Singh regrets that the Indian government has done little for the cause and charges that Prime Minister Manmohan Singh, despite being a Sikh, has not even given them an audience. Who will be their Godfather then? The diaspora wants more organisations like the NRI Institute to help build networks and muster support for their problems with the Indian government. The diaspora is impacted by the culture of the countries they adopt, but they also give something to the culture of the country they adopt. A case in point is the centrality of Southhall, a place dominated by Indians, in the United Kingdom. The locals begin to like Indian foods and music and admire the discipline parents impart to their children. The British visit Hindu temples and sing 'Bhajans' (religious songs) like the Hindus. The diaspora faces problems of assimilation in many countries and there are frequent reports of Indians being treated as second class citizens. In a way the melting pot has nowhere melted. Many years ago, Indian women had to undergo a virginity test to get visas for the United Kingdom. The practise was given up after much hue and cry in the Indian media. The colonial hangover never goes. In countries like South Africa, the black population considers India as a friend for the frontranking role that India played in getting rid of the apartheid regime and liberation from the oppressive regime. It is a well known fact that Nelson Mandela is an ardent admirer of Mahatama Gandhi and like him, he became an apostle of peace. The one figure that is universally reverred is the Mahatma or the father of the Indian nation as he is popularly known. The diaspora also faces a problem in finding grooms and bridegrooms for their children and fears that they may lose their culture and their traditional value system. Says Mr Chonee whether the subsequent generations will or will not lose their value system will depend upon the 'sanskar'(values) that parents impart in their children. Says Mr Utchanah, ''the year 2010 will be a very big year for GOPIO International, as we will be celebrating the 10th GOPIO Convention in Durban, South Africa, from March 28 to April 2. This is also to mark the 150 years of the arrival of Indians in South Africa. It is a year of celebration of South Africa." The diaspora has many marks left on its body. The ships from Calcutta, now known as Kolkata, which brought indebentured labour to Mauritius. The similar tragic immigration of Indians to countries such as British Guiana, Jamaica and Trinidad and Tobago. People from Trinidad and Tobago sing 'Ramayana' in a manner that it will touch the soul at its deepest--as much of traditional Hindus as modern Indians with an equal force. "It is India's century. India is all over the globe as are its people. The one common fabric which joins them is their relation with this democratic and fast growing nation. Life is not all material, many things are matters of the heart," says Mr Jagmohan Singh, the veteran figure who continues to be the force behind the NRI Institute. Relationship of the country and the diaspora is not a one way street. The paradox is that Indian parents want their children to go abroad to make hay. Once gone, they lead a miserable life without them, especially when they are old, often with no one to care for them. To be or not be is then the question. Nevertheless, their imbibing and everlasting song of all is; 'I love my India,' for who lives if India dies.
Subscribe to:
Posts (Atom)