Who is bearing the burden of growth?

The Central government is in the "habit" of passing on the burden of its own making to the common man who is already struggling with inflation and other blows in the form of costs of essential commodities. Now the diesel price hike will definitely have a domino effect. Traders will only use this as an excuse to make life more miserable for us. Austerity measures undertaken by the government sh

ould be implemented quickly before matters go out of hand. It is sad and make one anxious that everyone, from the local politician upwards, is wasting the tax-payer's money on unnecessary events while the government is unable to ensure the basic comfort of the common man. Since this is a national issue and affecting all across the nation, there must be concerted efforts by both the ruling party as well as the Opposition to find a permanent solution. The main thrust must be on educating the public on a warfooting about the urgent need to conserve oil, and explore the possibilities of alternative sources of fuel. Also, the State governments should totally waive the tax on petroleum products. Finally, all these situations are giving us a very clear message that we must find ways and means to reduce our dependency on foreign oil. This can only be done by reducing oil consumption, especially for personal transport.

Look beyond the appreciation of CRR

RBI has always utilized some ready'made solution to reduce the inflationary pressure but the market still remained volatile. Only some specific monetary tools like CRR, repo, reverse repo, etc. can change only the pattern and nature of investment by the financial institutions but the outcome of these changes doesn't meet with our plan to create an environment that promotes inclusive growth and sustainability in our economic targets. Without any doubt, CRR is a good monetary tool of quick positive responses but the way of our approach towards reforms in the present scenario of dwindling economic growth should be concentrated more on the infrastructure, education, health, employment generation, agriculture, and entrepreneurship.
The banking institutions, being as the biggest financial supporters to our public policies should concern about this and they should plan for an agenda beyond the ready'made monetary tools under the guidance of the RBI that this country really needs.

Recent Criticism of C&AG on its Coal Block Allocations’ Report

Everyone should know that it is the office of Comptroller and Auditor General (C&AG) in Indian republic [Article 148-151, the Constitution of India, 1949] unlike Auditor General in British India under the Government of India Act, 1935. People who are criticizing the office of the C&AG for its current audit report on coal blocks allocations must be acknowledged with the objectivity of the CAG being
as a comptroller of Consolidated as well as Contingency Fund of India. So the C&AG for the credibility of 152 years old institution, being as the guardian of public purse, has the full constitutional right to ensure the lawful transactions in accordance with the public policies bearing public accountability on governments. The office of the C&AG is serving as an independent, competent and credible audit institution and we appreciate it because it is the public accountability and probity which is essential for rooting out corruption and audit of the C&AG is one of the most important source of creating good governance. It is the transformation of our national audit agency as a catalyst for efficient, economic and effective governance.

NAM is still relevant after all these years…!!!

Relevancy of NAM becomes very important in these days because of Iran’s nuclear issue. India started its global politics through NAM, and today she reached ahead of the NAM. But still NAM has some condensed strategic value in the region which are continuously altering the man who is torch bearer. In this case, India has shown her strategic move of being a well wisher of Iran, and I appreciate India’s this move not because of only resisting the diplomatic pressure of the US and Israel, but also having a deep concern of our energy security, regional balance and stability in terms of trade, economic and political presence; and finally a good international stage where we can express what we want and what we can for the the stability and prosperity of the region. Hence the relevancy of the NAM is indeed very important for India as for her strategic autonomy and in reducing the cultural deficit among the nations.India needs non-alignment not just to preserve its “strategic autonomy” but to mobilise developing countries on the basis of common interests.