Professional Documents
Culture Documents
30 OCTOBER
05 OCTOBER
28 SEPTEMBER
8 EDITORIAL NOIDA/DELHI
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should be evolved by consensus when Islamabad decided to drop send troops to Afghanistan while at
outhern Asia is all set to wit- terror charges against Jamaat-ud the same time enhancing its train-
T
he move by the Supreme Court to seek an explan-
ation from the government about the delay in -
nalising a fresh Memorandum of Procedure
S ness the unfolding of several
new geopolitical gambits. The
U.S. appears to have found a new
Dawah chief Haz Saeed.
(MoP) for the appointment of judges in the higher judi- strategic balance in the region; China is the new kid on the block in Much potential
ciary raises more questions than answers. We do not China is pushing its way through the Southern Asian strategic land- Second, we must be able to see
know, for instance, what is holding up the process. It is the great American wall in South- scape — challenging American he- through complicated American
not clear whether the government and the ve-member ern Asia; the ‘cold war’ between ton and Kabul have expressed a de- Even as India takes delight over gemony in the region, willing to geopolitical signalling in the South-
Supreme Court Collegium have been unable to agree on Kabul and Rawalpindi seems to be sire to enlist New Delhi’s support to the American tirade against build peace and mine minerals in ern Asian region. To reduce com-
getting frostier by the day; Pakistan do so. For Washington, courting Pakistan, it is important to place Afghanistan, pushing India into a plex American geopolitical sig-
some signicant aspects of the MoP. It is possible that
is focussed on several strategic New Delhi is also useful in balan- the U.S.’s relationship with tight corner in its own traditional nalling to binary equations vis-à-vis
the consultative process has broken down and the gov- moves; and New Delhi is looking to cing the increasing Chinese pres- Pakistan in the correct historical backyard, and selling dreams of Pakistan or China would be a grave
ernment requires a nudge from the court to both ex- navigate various regional dilem- ence in the region, including in and geopolitical perspective. The inter-regional connectivity and mistake. Third, New Delhi needs to
plain the delay and expedite the process. The matter mas and strategic indeterminacies. Afghanistan. U.S. has had a deeply puzzling love- economic prosperity to a conict- carefully design the contours of its
came to the highest court after the Delhi High Court dis- The stage is set for a new great Moreover, the U.S. probably hate relationship with Pakistan ridden, impoverished and under- China policy: aligning our China
missed an advocate’s challenge to the appointment of game. views its Afghan engagement as a since the Soviet intervention in linked region. Chinese President Xi policy to suit U.S. interests would
judges without a new MoP being nalised as per the Su- The urry of American activit- face saver in the midst of its steady Afghanistan in 1979 through to Jinping’s bold declaration at the re- not help our long-term interests.
ies, including the recently con- decline in Asia and President Don- 2001, and thereafter. Pakistan is cently-concluded 19th Party Con- Recall that the U.S. kept a studied
preme Court’s December 2015 order. The two-judge
cluded visit by Secretary of State ald Trump’s lack of credibility and not only aware of it but also knows gress that China intends to emerge silence through the Doklam stand-
Bench hearing an appeal agreed with the high court, Rex Tillerson, indicates Washing- standing abroad — hence there’s how to make use of it. The indis- stronger in the world stage indic- o and the issue hardly gured in
but wanted to consider a related prayer — that there ton’s last-ditch attempt to regain likely to be a lot of focus on Afgh- pensability of this relationship ates its new geopolitical resolve. the public statements during Mr.
should be no further delay in nalising the MoP and that control, and pre-eminence, over a anistan in the days ahead. In a way, needs to be properly understood There is only so far the U.S. can Tillerson’s recent visit. Fourth,
it should provide for a mechanism to avoid any undue region which is being pulled in then, the U.S.’s unsavoury state- by India when fashioning its own ignore China’s overtures, and there Russia is not only an unavoidable
delay in the appointment of chief justices for the vari- conicting directions, much to the ments about Pakistan are intended response. is only so much India can do to traditional ally of India but it is in
ous high courts. At present, seven high courts have only discomfort of the U.S. administra- to woo India to cooperate closely We must also be aware that the match the Chinese sales pitch. The fact increasing its stakes in the re-
tion. In doing so, Washington on Afghanistan. But make no mis- absence of long-term commit- dividends are already in sight. For gion, including in Afghanistan,
acting chief justices. The Centre must use this oppor-
views New Delhi as the centrepiece take, the U.S. is also courting ments is one of the central features instance, China is emerging as a with close strategic ties with China,
tunity to throw some light on the status of the consulta- of its regional grand strategy. New Pakistan in pursuit of its strategic of American foreign policy. U.S. key player in Afghanistan. The po- and increasingly with Pakistan. Let
tion between the government and the Collegium. The Delhi would do well to carefully, objectives in the region, its anti- strategy has been susceptible to tential revival of the Quadrilateral not the sound of what we would
delay in nalising a fresh procedure for appointments is and constantly (re)consider its op- Pakistan rhetoric notwithstand- domestic, electoral, geopolitical Coordination Group (comprising like to hear from Washington dis-
a cause for concern, as vacancies in the high courts tions vis-à-vis the U.S. grand ing. and other determinants, and it has U.S., China, Pakistan and Afgh- tract our attention from the stra-
have continued to increase while the pace at which new strategy in Southern Asia. been no less so in the Southern anistan) shows just that. It’s a mat- tegic realities of the neighbour-
judges are being appointed remains sluggish. Contradictions in U.S. policy Asian context. While being on the ter of time before the U.S. utilises hood.
Afghan calculations Shorn of the rhetoric and the feel- same side of the reigning hegemon China’s potential to serve its in- Finally, both geo-economically
What is really worrisome is that two issues may come Despite its initial reluctance, Wash- good melodrama, something every is smart statecraft, a failure to cater terests in Afghanistan. After all, na- and geopolitically, the Indo-Pacic
to be seen as deliberately inter-linked: the delay in ington is back to the Afghan chess government in New Delhi has a for alternative futures would be tional interests matter above all region remains pregnant with po-
evolving a fresh procedure and the perceived tardiness table with renewed vigour — Mr. strong liking for, a cold, closer look shortsighted. International politics else. tential and possibilities for New
in clearing and making fresh appointments. In the two Tillerson and his colleagues in the at the U.S. policy towards Southern disincentivises blind loyalty. Mr. Ghani stated last week that Delhi. This is one crucial area
years since legislation seeking to create a National Judi- Trump administration realise that Asia shows several inherent con- “Terror havens will not be toler- Afghanistan would not join the where New Delhi and Washington,
cial Appointments Commission was struck down by a an inability/unwillingness to get tradictions. Consider, for instance, ated,” Mr. Tillerson declared at a China-Pakistan Economic Cor- along with other regional stake-
back in the game could potentially the American strategy of courting joint press conference with Ex- ridor if Pakistan refuses to permit holders such as Tokyo and Can-
Constitution Bench, there have been many instances of
render them insignicant in the India to counter Pakistan in Afgh- ternal Aairs Minister Sushma connectivity between India and berra, could synergise political,
incumbent Chief Justices of India voicing dismay and years ahead. anistan, and engaging India and Swaraj, echoing similar statements Afghanistan. New Delhi must ap- diplomatic and military eorts to
anguish over the rising number of vacancies. Merci- Having been militarily outsmar- Pakistan to checkmate China in the emanating from the Trump admin- preciate Mr. Ghani for being a true “uphold rule-based rights of navig-
fully, these potential ashpoints did not turn into full- ted by the Taliban in the recent region, while at the same time istration in the past weeks. Ms. friend, but let’s be realistic: ation and overight in the area”
blown conicts. This was possible because the appoint- past, the U.S. has renewed eorts viewing China’s role in Afghanistan Swaraj joined in by underlining Pakistan is unlikely to allow over- and promote free trade in the
ments process, though slow, was never stopped and the to hunt down the Taliban leader- as that of a potential stabiliser. Cer- that Pakistan must dismantle the land connectivity between Afgh- broader region.
recommendations of the Collegium were being pro- ship with the eventual aim of bring- tainly, strategic engagement of a terror infrastructure on its soil. anistan and India through its territ-
ing them to the negotiating table as conict-ridden region can never be Washington’s hard talk on terror is ory, nor will Mr. Ghani jeopardise
cessed and cleared by the Centre. That the same issue Happymon Jacob is Associate Professor of
well as checking Rawalpindi’s in- a straightforward aair — yet the welcome, but here again, one Afghanistan’s relationship with Disarmament Studies, Centre for
should crop up repeatedly is not a good sign. When it is uence in the country, something balancing of these contradictions should not be deluded into think- China by insisting on bringing In- International Politics, Organisation and
agreed in principle that having a fresh and transparent Afghan President Ashraf Ghani can throw up unanticipated sur- ing that the U.S. will punish dia on board. Disarmament, School of International
appointments process is vital to institutional reform, it would deeply appreciate. Washing- prises. Rawalpindi for not acting against Clearly, the emerging geopolit- Studies, Jawaharlal Nehru University
would be unfortunate if the two sides are seen as being
obdurate and inexible on the new MoP. A judicial dir-
ection to the government to notify a procedure ap-
proved by the Collegium will be an easy way out, but it
will not do anything to address the problem of judicial
Devaluing high courts
primacy being seen as detrimental to judicial account- The jurisdiction of our high courts has been subject to relentless attack
ability. A consensus on this matter will be far more con-
high courts for disputes under the tions where there is divergence overcome this ruling, the President
ducive to the public interest. Companies Act, Competition Act, among high courts. had to invoke the advisory jurisdic-
SEBI Act, Electricity Act, Con- Third, high courts are the train- tion of the Supreme Court. The or-
sumer Protection Act among oth- ing grounds for future Supreme dinary citizen enjoys no such priv-
Splendid goal ers. Any person aggrieved by an or- Court judges. When high court ilege.
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der of an appellate tribunal can judges deal with several cases un- This diculty becomes even
directly appeal to the Supreme der a particular area of law, they more acute when the Supreme
With the U-17 World Cup successfully hosted, k. vivek reddy Court, side-stepping the high carry with them the benet of their Court takes on a legislative role by
court. This raises three institu- experience and insights to the Su- framing guidelines in the larger
India must build on it with focus on grassroots
F
or the framers of our Constitu- tional concerns preme Court. When high courts are public interest. Neither the indi-
T
he rst FIFA event on Indian soil has been an un- tion, high courts, occupied a First, these tribunals do not en- side-stepped in favour of tribunals, vidual nor the state has an eective
qualied success. The Under-17 World Cup came central position. They were joy the same constitutional protec- Supreme Court judges hearing ap- remedy to challenge these norms.
conceived as a forum for adjudicat- tion as high courts. The appoint- peals from tribunals would have to In contrast, there are several in-
to a close on Saturday with a riveting nal in Kolk-
ing disputes under the Constitu- ment process and service Second, conferring a direct right deal with the ner nuances of dis- stitutional benets when a case
ata, the quality of the football exemplifying what the tion, Central and State statutes be- conditions of high court judges are of appeal to the Supreme Court putes under specialised areas of travels from high court to the Su-
competition had been all about. There was little of the fore they moved to the Supreme not under the control of the execut- from tribunals has changed the Su- law for the very rst time. This is preme Court. The Supreme Court
dour, cautious play that is a feature of major nals at Court; their jurisdiction was more ive. The enormous institutional in- preme Court from being a constitu- not ideal for a court of last resort. is wiser by a well-considered high
senior level; England and Spain instead attacked with extensive than the Supreme vestment to protect the independ- tional court to a mere appellate The rationale advanced for court ruling. Notably, the U.S. Su-
freedom, making for an engrossing spectacle, with Eng- Court’s. In contrast to the Amer- ence of high courts is dispensed court. It has become a nal clearing avoiding high courts is the colossal preme Court takes up cases where
land taking the game away in the second half. The likes ican model of a bifurcated federal with when it comes to tribunals. house for every appeal under every backlog. This is a problem of the there is a divergence of opinion
and state judiciary, our high courts Many tribunals still owe allegiance statute. The Supreme Court should government’s making as it con- among the Circuit Courts of Ap-
of England’s Phil Foden, adjudged player of the tourna-
resolve all disputes. to their parent ministries. be a court of last resort deciding sciously chooses not to appoint peal.
ment, and his team-mate Rhian Brewster, the top- In the initial years, several con- Tribunals are also not as access- cases of the moment, and not a - judges of the sanctioned strength It has been asserted that when
scorer, are clearly stars in the making. India embraced stitutional issues came to the Su- ible as high courts. For example, nal forum with an all-embracing for each high court. The way ahead the Supreme Court decides an is-
the tournament wholeheartedly, with the turnout over preme Court after high courts there are just four benches of the jurisdiction over disputes ranging lies in the creation of specialised di- sue, it avoids conicting judgments
the three weeks shattering previous attendance records grappled with those issues. The Green Tribunal for the whole coun- from a custody battle to the scope visions in high courts for tax, com- of the high court. This is untrue.
for a FIFA youth tournament. Over 1.3 million people First Amendment to the Constitu- try. In comparison, high courts of a municipal by-law. pany law and environmental dis- The Supreme Court is in a better
thronged the stadiums, with the crowds in football- tion was triggered by a Patna High were easily accessible for environ- putes. position to resolve a dispute when
Court ruling declaring a land re- mental matters. A shareholder in Issue of backlog it is confronted with two conicting
crazy Kolkata in particular a sight to behold. While the
form law as unconstitutional. Kerala or the Northeast would have A backlog of over 58,000 cases in Impinging on rights high court rulings on the same is-
Guwahati seminal had to be moved because rain had Increasingly, the jurisdiction of to travel to the Securities Appellate the Supreme Court precludes it The jurisdiction of high courts is sue. In the triple talaq ruling, it be-
damaged the turf, and there were issues with the distri- our 24 High Courts has been sub- Tribunal in Mumbai to challenge from being a deliberative court re- also undermined by the Supreme neted from prior high court de-
bution of drinking water on the rst match-day, things ject to relentless attack from Parlia- any order by the Securities and Ex- ecting over critical questions of Court when it directly entertains cisions on the nuances of Muslim
by and large went o smoothly. India proved it could de- ment, and, unfortunately, even the change Board of India. This makes law. It can aect the quality of the various writ petitions. When the personal law.
liver a world-class event. And the improvement in infra- Supreme Court. justice expensive and dicult to ac- court’s jurisprudence. If high Supreme Court exercises original If high courts lose their promin-
structure, with new training grounds built and existing cess. Further, when retired high courts were to exercise appellate jurisdiction, it deprives the citizen ence, India’s justice delivery sys-
Rampant tribunalisation court judges invariably preside jurisdiction over orders of and the state of the right to chal- tem will be the principal loser.
stadiums upgraded, should ensure a longer legacy for
Parliament has inicted damage on over every tribunal, the justica- tribunals, they would act as lters, lenge potentially erroneous orders.
football in the country. high courts with rampant tribunal- tion of expert adjudication by enabling the Supreme Court to con- A classic instance is the Supreme K. Vivek Reddy is an advocate of the
India’s U-17 players got the sort of exposure and op- isation. Tribunals have replaced tribunals disappears. ne itself to those substantial ques- Court’s ruling in the 2G case. To Hyderabad High Court
portunity that they would not otherwise have. The
home team did not progress beyond the group stage —
which was hardly a surprise — but it was not completely
LETTERS TO THE EDITOR Letters emailed to letters@thehindu.co.in must carry the full postal address and the full name or the name with initials.
embarrassed either. It was evident that with more com- Doing business Multiple voices leaders such as Mr. Modi the least. One has to live Planners need to plan not just given us a beautiful
petitive experience the players could have registered a It is pleasant news that India Prime Minister Narendra and party president Amit within one’s means and not sustained health campaigns. sport but also shown us a
better performance. The footballers captured the ima- now nds a place within the Modi expressing anguish Shah are helpless in reining succumb to the views of Deeksha Sharma, way toward peaceful co-
gination of the public, with players like goalkeeper top 100 in terms of ease of over several voices in these unruly elements. others in the family. New Delhi existence, an example of
Dheeraj Singh and midelder Jeakson Singh, who be- doing business (Page 1 emerging from within the C.V. Aravind, In fact, it is the credit card how the world stands united
came India’s rst goal-scorer in a FIFA tournament, be- report, October 29). The party is genuine as the BJP is Bengaluru culture that encourages Onto the football pitch irrespective of the
huge jump, from its previous fast turning into an outt people to spend impulsively. Catalonia’s referendum and wrongdoings of some. But
coming household names. Football, for once, took
ranking, indicates that where there are multiple Loan sharks P. Esakki Muthu, its implications on FC incidents of violence in
centre-stage. There is a sense, as the local organising sustained reforms and the opinions (“Modi rues many Discussion and debate on Sivakasi, Tamil Nadu Barcelona paint a dark Catalonia and remarks of
committee’s Project Director, Joy Bhattacharjya, put it, reduction in red-tapism are voices within BJP”, October how families are unable to picture for football lovers Barcá players threaten this
that football has reached a tipping point in India with in place, facilitating the 29. bear the harassment of Cancer on the rise across the globe. Barcá is an consonance. Football,
the U-17 World Cup. This moment must be seized. Youth easier launch of a business. However every time usurious lenders, which It is disheartening to learn embodiment of a modern surprisingly, is our only
development in Indian football has hitherto been non- The inhibition of investors someone puts his foot into often pushes them to end that one of the most global world where national hope in these dicult times.
existent, except in a few, devoted academies. More or- over cumbersome his mouth, all that the party their lives, do not cover the beautiful parts of our and international Chirag Ahuja,
procedures and a lethargic high command does is to basic fault in our society country is facing a crisis in sentiments prevail in Mohali, Punjab
ganised, competitive football, starting from the young-
bureaucracy have been a engage itself in damage which wants to live beyond terms of a rise in the unison. Players of dierent more letters online:
est of age groups, is vital. A national U-15 league was major obstacle for economic control, with party its means to meet peer level incidence of various cancers nationalities and races have www.hindu.com/opinion/letters/
started two years ago; a U-13 league is scheduled to be- growth. Launching a spokespersons generally pressures (Tamil Nadu, (‘Being’ page – “Northeast
gin soon. The 5-12 age group must now be the focus, business in many developed disassociating the party “How usury squeezes life faces uphill cancer corrections & clarifications:
with the involvement of local clubs; in this regard, India nations is so easy that it from the remark. Precious out of victims”, October 29). challenge”, October 29). A sentence in “In the chamber of literary echoes” (Oct. 29, 2017,
doesn’t need more than little is done to discipline For the average family, The fact that most of these Literary Review) read: “Bolaño largely restricted himself to the
is light years behind the world’s footballing super- “lost poets”, men — always men — of extreme talent. It should have
powers. The All India Football Federation has already even 24 hours to start a those who cross the meeting basic needs should are a result of lifestyle read: “Bolaño largely restricted himself to the “lost poets”, men
business. It is also lakshman rekha. This only be possible. However, trying factors shows that there is a and women of extreme talent.”
expressed a desire to host the FIFA U-20 World Cup in
imperative to undertake big ends up emboldening other to meet perceived need for an awareness drive.
2019. But having competently staged a global event, it is bang reforms to accelerate loose cannons who bring necessities such as buying a The rst step should be in It is the policy of The Hindu to correct signicant errors as soon as possible. Please specify
the edition (place of publication), date and page. The Readers’ Editor’s office can be
more important now to focus on the grassroots. Else, growth and generate the party down several piece of land or spending for the form of a plan by a group contacted by Telephone: +91-44-28418297/28576300 (11 a.m. to 5 p.m., Monday to
the cheer that accompanied Jeakson’s strike against employment opportunities. notches in public opinion. a family function by of health workers who can Friday); Fax: +91-44-28552963; E-mail:readerseditor@thehindu.co.in; Mail: Readers’
Editor, The Hindu, Kasturi Buildings, 859 & 860 Anna Salai, Chennai 600 002, India.
Colombia may remain only a memory. N. Sadhasiva Reddy, At the same time, it is borrowing from money educate people on how to All communication must carry the full postal address and telephone number. No personal
Bengaluru unbelievable that strong lenders is disastrous, to say prevent this deadly disease. visits. The Terms of Reference for the Readers’ Editor are on www.thehindu.com
CM A ND-NDE
YK
https://thehinduzone.blogspot.com/ https://t.me/pdf4exams
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THE HINDU
MONDAY, OCTOBER 30, 2017
NOIDA/DELHI
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OPED 9
To arrest the economic downturn, the government should take a leaf out of Manmohan Singh’s book Choice of words matters
MGNREGA and another by the Con- One wrong word can twist meaning and create an
sultative Group to Assist the Poor-
World Bank (2013) in Andhra Pra- impression of bias where none exists
desh showed that MGNREGA became
a major source of income for poor glossaries to deal with loaded terms. These
households (40% of their income) in are constantly updated, and acceptable al-
the lean agricultural season (May- ternative words are listed for each of the con-
Rangarajan Mohan June), saving them from falling back tested words. For instance, Reporting Con-
Kumaramangalam into poverty. flict: A Handbook for Media Practitioners,
The importance of MGNREGA edited by Laxmi Murthy, has a listing from A
More than three years since the Na- today — that the government dis- A.S. PANNEERSELVAN to Z that unpacks some of the words that
tional Democratic Alliance (NDA) missively suggested as a programme have the potential to hurt and humiliate.
government came to power, the eco- that reflected the Congress’s failures There are glossaries for gender-sensitive re-
nomy occupies centre stage. Partly — is seen in the fact that rural de- Last week, senior journalist and director of porting, for covering migration, to avoid hate
because of the effects of demonetisa- mand for employment increased in the Commonwealth Human Rights Initiative, speech, to cover terrorism, and multiple re-
tion and partly because of the way the months following demonetisa- Sanjoy Hazarika, whose book Strangers of the sources in reporting children. These efforts
the implementation of the goods and tion. In other words, MGNREGA, a Mist remains one of the finest introductions are not futile exercises in political correct-
services tax (GST) has played out, the legacy of the UPA, provided succour to the complexities of the politics, insurgen- ness. They provide the necessary tools to
continuing slowdown in economic to millions and helped keep the rural cies, conflicts and conflict resolution pro- make journalism a site of empathy, inclusive-
growth in the last few quarters is economy on its feet. cesses in Northeast India, questioned the use ness and respect for the dignity of fellow hu-
now a reflection on the government’s The landmark Right to Education of the term “Assam native” in the promo- man beings.
performance. Time and again this Act (RTE) was passed in 2009, which tional caption for the report “Man on vaca- In the introduction to “Use with care”, a
government seeks to deflect criticism “The years after the introduction of MGNREGA saw substantial increases in the made education a fundamental right tion thrashed for urinating on street” (Oct. reporter’s glossary of loaded language in the
of its handling of the economy by rate of wage growth of both male and female labour.” MGNREGA workers in for children aged 6-14. This law put 25, 2017) in the Metro section of the Delhi Israeli-Palestine conflict, which was pub-
blaming the previous United Pro- Karnal district in Haryana. RAMESH SHARMA *
an end to the inhuman practice of us- edition. He found the use of the term objec- lished by the International Press Institute
gressive Alliance (UPA) government ing children as low-wage labour and tionable on three counts: the term was used (IPI), the authors ask some pertinent ques-
under Manmohan Singh. ports, including business out- global recession, the rupee declined has given millions of underprivileged by colonialists to describe the ancestry of a tions which I believe every reporter and
It is worth looking at what Dr. sourcing, reached nearly $100 bil- to ₹51 to a dollar, after having appre- children an opportunity to access person; ‘native’ is also often used in a derog- copy editor should imbibe: “Can journalists
Singh achieved at the helm of the lion. ciated to ₹39 to a dollar. In 2013, with high-class education. The RTE led to atory manner to make fun of or discriminate rise above their roots and remain true to
UPA and the circumstances in which During this time, direct taxes grew the American Federal Reserve decid- a grand expansion of infrastructure against outsiders; and why is the State of ori-
he became Prime Minister. Dr. at a rapid pace from ₹1,05,089 crore ing to taper off the liquidity in the as schools were built in districts gin of the victim of any relevance to the
Singh’s appointment as Prime Minis- in 2004 to ₹6,38,543 crore in 2014, a market, a flight of capital led to a across the country and teachers were report?
ter in 2004 came at a time when oil growth of six times in a decade. In 20% drop in the rupee. In both scen- paid higher than market salaries to The report was a touching one. It was
prices were on an upward trajectory, fact, for the first time in history, dir- arios, the deal with Japan stopped attract the best and the brightest to about a young teacher who was allegedly
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private sector to implement a 3% pay Thursday last and showed the friendly behaviour towards the
rise from next year. This bold inter- Mahomedans. Hindus also set up water booths over thirty in
vention could infuse substance to the number where members of Mahomedan community were
third arrow (structural reforms) of ‘Abenomics’ as part of the served with milk, fruit, etc.
broader strategy to unshackle Japan from two decades of on
and o deation. Monetary easing and scal stimulus are the Case against Mr. E.D. Smith.
other two elements of the now widely acclaimed three-
pronged strategy launched in 2012 to meet a 2% rate of ina- The appeal preferred by Mr. E.D. Smith, of the firm of Messrs.
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tion and boost growth. Accordingly, the Bank of Japan’s (BoJ) CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC Smith and sons, tailors and out-fitters, Mount Road, against
policy of negative interest rates and quantitative easing — the the judgment of the Chief Presidency Magistrate, who con-
purchase of sovereign bonds worth trillions of yen — to stoke
CONCEPTUAL SHELF HELP
victed him of the offence of retaining stolen property belong-
the current nearly zero rate of ination has yielded spectacu- Dunning- ing to the Army Clothing Factory and sentenced him to one
lar results. For instance, the country recorded an unbroken six
Kruger effect The day JFK was killed year’s rigorous imprisonment was called for hearing yesterday
consecutive quarters of growth until June in gross domestic [Oct. 29] at about 4 in the afternoon. Mr. Nugent Grant, Coun-
product (GDP), the longest spell in over a decade. The 4% an- Psychology John F. Kennedy’s assassination, in fact and ction sel for the appellant, in opening the case stated the facts and
nualised growth in the April to June quarter was remarkable in the particulars of the case, which had appeared in our
a predominantly export-driven economy, underpinned as it This refers to a cognitive Sudipta Datta wald was charged with the rary shelves”. But before columns, and said that the evidence on record was too meagre
was by a boost in domestic demand and private consumption. bias which renders people killing — and was shot The Death of a President to justify the conviction.
Similarly, Japan’s current labour market conditions are said unable to properly assess Has everything been said dead on November 24 by was published in 1967,
to be the strongest since 1974, with unemployment hovering their intellectual ability, about the November 22, businessman Jack Ruby Manchester had a bitter CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
below 3%. But prices have evidently not kept pace with these which in turn leads them 1963 assassination of the who was said to have con- row with the Kennedys
improvements as ination has remained close to zero, under- to overestimate their abilit- 35th U.S. President, John nections with the mob. In over the content and the DATA POINT
scoring the limits to how much ultra-loose monetary policy by ies. It is named after psy- F. Kennedy? As the last September 1964, the War- intimate details he had in-
itself can do to trigger demand. In fact, the BoJ has repeatedly chologists David Dunning trove of government docu- ren Commission report, cluded about their life as
deferred its decision to achieve the 2% target rate. Another in- and Justin Kruger who pro- ments are released by the which was the official re- First Couple.
stance is the lack of rise in wages commensurate with the posed the existence of National Archives in the port on the assassination The story has been
growth in employment, impacting prices and consumption. such bias in a 1999 paper U.S. in batches — under of President Kennedy, was mined in fiction as well,
(“Unskilled and unaware pressure from the FBI and published, saying Oswald most notably by Norman
For a fourth arrow of it”). As part of an experi- the CIA, President Donald and Ruby had acted on Mailer (Oswald’s Tale: An
Against this backdrop, there is growing perception that the ob- ment, they conducted Trump held back publica- their own. Many were American Mystery, 1995)
jectives of Abenomics could be thrown into jeopardy unless re- tests which revealed that tion of additional papers — sceptical of this official and Don DeLillo. At the
forms are given a rigorous push. On the strength of a massive participants who fared the one wonders whether this line, and in 1967 a Louisi- end of his 1988 novel,
mandate, Mr. Abe has now specied an annual 3% pay rise, un- worst in them ironically will lead to renewed in- ana lawyer, Jim Garrison, Libra, DeLillo writes, in a
like his more general pleas in the past for hikes larger than the considered themselves to terest in the killing, and made startling claims that disclaimer of sorts, “This
previous year. Such a direct appeal echoes the International have performed a lot bet- more conspiracy theories Oswald was not the is a work of imagination”.
Monetary Fund’s 2016 suggestion to designate pay rise as a ter than their peers. Such and books. Already, shooter, articulating his It is a radical telling of the
fourth arrow of Abenomics, when it argued for an incentive- illusory superiority can there’s talk of spies, a call theory in three books, in- six seconds in Dallas that
based annual 3% wage increase. Mr. Abe’s call will further cause people to turn hos- to a British newspaper cluding On the Trail of the changed the course of
strengthen the bargaining power of trade unions, which, dur- tile towards negative re- that something big was Assassins. This was one of American history that of-
ing annual wage negotiations, have sought to counteract the views about their work. about to break minutes the sources for Oliver fers an alternative view:
eects of the controversial 2014 hike in consumption tax. Po- before the killing, Kremlin Stone’s film, JFK. Anthony what if the assassination
tentially more radical perhaps is the IMF’s recent appeal to the CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC suspicion of a Lyndon Summers’ 1980 book Con- was a CIA conspiracy and
CCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCCC
government to push further on reforms to the labour market — Johnson hand, and more spiracy cast doubts on the Oswald, the chief suspect
MORE ON about the mafia. The as- Warren commission find- in the shooting, had been
3
in particular, the disparities between the country’s full-time
employees and temporary sta. There has been a decline in Ja- sassination, as Kennedy ings too. made the scapegoat? “Any
pan’s population in the working age, and the country stands
THE WEB rode in an open-topped In 1964, Jackie Kennedy novel about a major unre-
111th in the World Economic Forum’s ranking of gender equal- limousine through Dealey commissioned journalist solved event would aspire
Top stars of FIFA Under-17
ity. It needs a transformation of cultural attitudes to maintain Plaza in Dallas, Texas, has William Manchester to to fill some of the blank
World Cup
its industrial might. Clearly, Japan is moving further and fur- already inspired much write a book “which spaces... To do this I’ve
ther away from the “lost decade” of the 1990s. The question is slew of literature, fact and would be bound in black altered and embellished
http://bit.ly/FIFAU-17Stars
only how far and how fast. fiction. Lee Harvey Os- and put away on dark lib- reality,” says DeLillo.
CM A ND-NDE
YK
https://thehinduzone.blogspot.com/ https://t.me/pdf4exams
CHENNAI
14 THINK BusinessLine
MONDAY • OCTOBER 30 • 2017
0
xyz
T
he Reserve Bank of India found by RBI to be inadequate in to satisfy all preconditions neces-
rethink on the way forward deregulated commercial transmitting monetary policy sig- sary for a suitable external bench-
bank lending rates in 1994 nals. Therefore, the RBI has come mark. Repo rate, being the policy
F
ar from being the poster boy of reforms, to allow the market forces out with an Internal Working rate, is administered by the Monet-
to play their role in determining Group Report, which suggests the ary Policy Committee and therefore
the telecom sector is currently going
such rates. Soon after deregulation, introduction of a new methodo- cannot be treated as a market-de-
through the most painful period since banks were asked to disclose their logy to link lending rates to the ex- termined rate. If banks are asked to
the first mobile call was made using GSM prime lending rate (PLR) — the rate ternal benchmarks from April 2018. link their lending rate to repo rate,
cellular technology in 1995. The sector is reeling charged to the prime borrowers. In without any reference to the cost of
under mounting losses, a growing debt pile, irra- 2003, the RBI instructed banks to Upon reflection funds, banks may oblige by linking
announce formula-based bench- There is a need to reflect on what it to the benchmark and find ways
tional spectrum costs and high government mark PLR (BPLR) with the option to the objective of deregulation is and to manipulate spread over the
levies. The entry of Reliance Jio, which has disrup- lend below BPLR in deserving cases whether the proposed system is benchmark to defeat the objective
ted the market with low-cost data services, has fur- of short-term loans like export timely or premature. The primary of transmission.
ther compounded the woes of incumbent players. credit. However, banks misused this objective of the lending rate dereg-
option and the credit market was ulation has been price discovery by Easy money? Just dribbles of it PIM PIC/SHUTTERSTOCK.COM Innovative thinking
The combined eect is that a number of operat- dominated by the sub-BPLR lend- market forces. If the market forces Are there any innovative ways to
ors, including Reliance Communications and Tata ing. To plug this loophole, the RBI is- are not perfect, there may be a case this problem is addressed, banks loans is fairly satisfactory com- make both sides of the banks’ bal-
Teleservices, have been forced to exit their loss- sued guidelines on base rate system for regulatory intervention to im- cannot transmit monetary policy pared to many countries where ance sheet flexible so that transmis-
making operations. The crisis has also severely im- in 2010 prohibiting lending below part market discipline. The RBI has signals at the desired speed and erosion in the monetary policy sion could be faster? Accepting
base rate, barring a few exceptions. been revising its guidelines on magnitude. transmission is more pronounced. bulk deposit at variable rate may
pacted investors, lenders, partners and vendors of
As base rate was not flexible lending rates to improve monetary Given the accumulation of large not be sucient to impart cost-flex-
these telecom companies. While the impact on enough to transmit monetary policy transmission without being Too much lag NPAs, the weighted average lending ibility as the size of such deposits is
subscribers has been limited thanks to mobile policy signals at the desired speed reasonably successful in removing There is enough literature to sug- rate ought to be much higher than small compared to total deposits.
number portability, the bigger impact has been and magnitude, the RBI introduced credit market imperfections. The gest that monetary policy transmis- marginal lending rate. If some An innovative way to make both as-
on employees. In the last year alone over 10,000 marginal cost-based lending rate focus seems to be moving more to- sion has long and variable lags. banks are committing errors in the set and liability sides of bank bal-
(MCLR) in April 2016. While existing wards transmission than price While the RBI is fully aware of this computation of base rate/MCLR, ance sheet flexible is to link both de-
jobs have been cut as operators try to bring down loans continued at base rate till discovery. ground reality, the obsession with the RBI has every right to scrutinise posit and lending rates to average
costs. The situation is expected to worsen in the their maturity, borrow- The major component quick transmission gives an im- lending rate determination under inflation rate of the previous
next 6 to 12 months as there are more operators in ers were given options of BPLR/ base rate/ MCLR pression that the RBI as a regulator supervisory review. quarter with appropriate mark-up
the market facing an uncertain future. Unfortu- to switch over to the has been cost of bor- would like to nudge commercial The external benchmark is popu- — 2 per cent for a one-year deposit
MCLR system at agreed rowed funds. In India, banks to fall in line and somehow lar in western countries in setting and 4 per cent for one-year lending,
nately for the people losing their jobs, the hiring terms and conditions. banks’ borrowing from transmit policy signals even if mar- lending rates as banks there de- excluding idiosyncratic risk.
scenario in other hitherto employment-heavy sec- The MCLR was also for- the market through issu- ket forces are imperfect. pend largely on short-term funds. In order to incentivise depositors
tors like IT and e-commerce is bleak. While those mula-based, but more ance of debentures/com- Under persuasion, banks may ob- This makes their cost of funds flex- to opt for inflation linked deposit
in marketing or sales functions can move to sec- specific and robust on mercial papers is negli- lige the regulator by changing the ible. In fact, both deposit and lend- rate, 25 basis points extra may be
computation of various gible. As a part of benchmark lending rate more fre- ing rates are linked to external loaded to the fixed rate deposits,
tors such as FMCG, telecom engineers and those
components. Moreover, day-to-day liquidity man- quently, but exercise their freedom benchmark like the London Inter- while all fixed rate loans over one
on the technical side could be left in the lurch. it was tenor-linked ex- agement, banks’ depend- to decide spread over the bench- Bank Oered Rate (LIBOR). This con- quarter may be penalised by 25 bps.
Ironically, all this is happening at a time when cept for fixed rate loans above three ence on call/notice money, CBLO, mark. As a result, the actual lending dition is yet to emerge in India. This proposal, besides improving
the Indian telecom sector is at the cusp of a major years, which were outside the MCLR RBI/market repo together may be rate, which is more important for The RBI’s Internal Working Group monetary policy transmission, will
data revolution. Only 40 per cent of the country’s discipline. around 5 per cent of total deposits. borrowers, may remain less analysed 13 possible external bench- call upon banks to strive for
After deregulation, the RBI took In India, deposit constitutes the flexible. marks and narrowed them down to eciency.
population has access to internet which means almost nine years to introduce bulk of borrowed funds. The cost of It would not be fair to say that three — CD rate, Treasury Bill rate
there is a huge demand for telecom services going BPLR, seven years to replace BPLR fund typically remains inflexible as banks are not responding to the and policy repo rate —which could The writer was principal adviser and
forward. Telecom operators will be required to in- with base rate and nearly six years most of these deposits are contrac- policy changes. Under MCLR, trans- be used by banks to set their lend- head of the Monetary Policy
vest heavily in rolling out 4G networks for which to replace base rate with MCLR. ted at fixed rates. Until and unless mission to lending rate for fresh ing rates. The IWG has also acknow- Department, RBI
capital and human resources will be required. But
this silver lining can become reality only if some
T
sector, these levies need to be brought down here is an image that used; then again, don’t suggest this that to oversee toxic chemicals,
drastically. Second, the Centre must rationalise shows what a common to Dow, but sarin nerve gas might Trump appointed a council veteran
spectrum pricing. Forced expensive bidding puts pesticide does to a child’s be even more eective!). The EPA along with toxicologist with a his-
brain. The pesticide, was preparing to ban it for agricul- tory of taking council money to de-
the operators’ financials in a mess. While the auc- which belongs to a class of chemic- tural and outdoor use this spring, fend carcinogens.
tion mechanism must be retained, the Govern- als developed as a nerve gas made but then the Trump administration Someday we will look back and
ment should rethink the floor price especially for by Nazi Germany, is now found in rejected the ban. That was a tri- wonder: What were we thinking?
the 700 MHz band — critical for data services. Fi- food, air and drinking water. Hu- umph for Dow, but the decision I’ve written about the evidence that
man and animal studies show that stirred outrage among public toxic chemicals are lowering men’s
nally, exits and mergers need to get easier so that
it damages the brain and reduces health experts. They noted that sperm counts, and new research
strong players are able to absorb weaker ones IQs while causing tremors among Dow had donated $1 million for suggests by extrapolation that by
without destruction of value and assets created. children. It has also been linked to Trump’s inauguration. 2060, a majority of American and
Operators, on their part, should start creating lung cancer and Parkinson’s dis- So the pesticide will still be used European men could even be infer-
new revenue streams. The days of oering plain ease in adults. on golf courses, road medians and tile. These days we spew fewer tox-
The coloured parts of the image, crops that end up on our plate. Kids ins into our air and rivers, and in-
vanilla voice telephony service are over. The de- prepared by Columbia University are told to eat fruits and vegetables, Exposed A child’s brain NYT stead we dump poisons directly
mand for data services is set to expand rapidly in scientists, indicate where a child’s but EPA scientists found levels of into our own bodies.
the coming years. This provides an opportunity to brain is physically altered after ex- this pesticide on such foods at up to Here’s the big picture: The $800 vignette: Chemical companies A Dow spokeswoman told me
revive the sector over the next 12-18 months. posure to this pesticide. This chem- 140 times the limits deemed safe. billion chemical industry lavishes secretly set up a now-defunct front that “Dow stands by the safety of
ical, chlorpyrifos, or Dow Chemical “This was a chemical developed to money on politicians and lobbies organisation called Citizens for Fire chlorpyrifos”.
Cos’ Nerve Gas Pesticide, may be in- attack the nervous system,” notes its way out of eective regulation. Safety that purported to be a coali- It’s easy to get diverted by the
side you. One 2012 study found that Virginia Rauh, a Columbia pro- This has always been a problem, but tion of firefighters, doctors and oth- daily White House fireworks. But
it was in the umbilical cord blood of fessor who has conducted ground- now the Trump administration has ers alarmed about house fires. The long after the quotidian craziness is
87 percent of newborn babies breaking research on it. “It should gone so far as to choose chemical group called for requiring flame re- forgotten, Americans will be caring
tested. not be a surprise that it’s not good industry lobbyists to oversee envir- tardant chemicals in couches, to for victims of the chemical in-
FROM THE VIEWSROOM And now the Trump administra- for people.” onmental protections. The Amer- save lives, of course. In fact, this was dustry’s takeover of safety regula-
tion is embracing it, overturning a Remember the brain-damaging ican Academy of Pediatrics pro- an industry hoax, part of a grand tion. Democrats sometimes gloat
planned ban that had been in the lead that was ignored in drinking tested the administration’s strategy to increase sales of flame that Trump hasn’t managed to pass
Inquiries and conspiracy stories works for many years. water in Flint, Michigan? What’s decision on the nerve gas pesticide, retardants — whose principle eect significant legislation so far, which
happening under the Trump ad- but ocials sided with industry seems to be to cause cancer. The is true.
Whether Netaji or Kennedy, speculation on their death, lives on Banned but back ministration is a nationwide echo over doctors. American Chemistry Council was But he has been tragically eect-
The Environmental Protection of what was permitted in Flint: O- caught lying about its involvement ive at dismantling environmental
Published by N. Ram at Kasturi Buildings, 859 & 860, Anna Salai, Chennai-600002 on behalf of KASTURI & SONS LTD., and Printed by D. Rajkumar at Plot B-6 & B-7, CMDA Industrial Complex, Maraimalai Nagar, Chengleput Taluk, Kancheepuram Dist., Pin: 603209. Editor: Raghavan Srinivasan (Editor responsible for selection of news under the PRB Act). ISSN 0971 - 7528
CM . ..... .. . ...CH-X
YK
>
OPINION 11
STAY INFORMED THROUGH THE DAY @ WWW.BUSINESS-STANDARD.COM.
I
n the discussion surrounding the announcement of the government’s recap- the social cost of the last rupee of government expen-
italisation programme for its public sector banks (PSBs), one aspect of the larg- diture? In a country with a sound framework for tax
er sectoral problem appears to have not been given sufficient attention. policy and tax administration, and with sound tech-
While PSBs now have some hope that they will be able to move forward from niques in public debt management, the cost to soci-
ety of an additional ~1 of government expenditure
the heavy weight of non-performing assets (NPAs) that had been dragging down
proves to be between ~1.3 and ~1.5. But in India, giv-
their operations, a problem of similar nature, though as yet of smaller proportions, en the infirmities of tax policy, tax administration,
has become visible in the hitherto healthy privately-controlled banking sector. and debt management, the last additional rupee of
Several leading private sector banks have seen big jumps in the level of their bad government spending comes at a higher cost to soci-
loans in their recently declared results for the quarter ended September 2017. ety. We estimate this at ~3 (https://goo.gl/JdKvi6).
ICICI Bank, while it has seen a reduction in NPAs since the quarter ended This means that the decision to spend ~1.35 trillion
imposes a cost upon society of ~4 trillion. We should
June, nevertheless continues to have NPAs at a worrying level — with a gross NPA
be stubbornly frugal with public money in India.
ratio of 7.9 per cent, as compared to around 6.1 per cent in the year-ago quarter. The sixth question we should ask is: Why did
It declared a net profit of ~2,058 crore, a drop of 34 per cent year-on-year. Other things go wrong, and are we ensuring they will not
banks, too, have seen similar issues. Axis Bank reported that NPAs had increased go wrong again? In the case of the banking crisis, this
24 per cent over the previous quarter. HDFC Bank has been a far more cautious requires bringing sound governance and technical
Principles to guide
lender than most, but even it saw its NPAs increase — although they are still at capabilities into the RBI’s work on banking regula-
tion and supervision. If this is not done, injecting
the comfortable level of 1.24 per cent.
new money merely sets the stage for a next wave of
The key question is: Is the narrative surrounding the recapitalisation of PSBs, bad behaviour by banks. It was striking to see the
which stresses the poor due diligence and lending practices of these banks, miss- stock market respond to the ministry of finance
bank bailouts
ing an important point? For one, the Reserve Bank of India has expressed its dis- decision with a higher stock price for construction
satisfaction with certain private sector banks when an analysis of banks’ books by companies and ICICI Bank. Every discussion on
the regulator threw up some divergences between actual and provisioned-for spending taxpayer resources for banks should go
with the associated white paper on RBI reforms.
NPAs in some cases. According to the central bank, Axis Bank and YES Bank have
This requires intellectual capabilities; e.g. merging
grossly underreported bad loans. While HDFC Bank is in discussions with the reg- Without bringing sound governance and technical capabilities into two weak public sector banks to make a big weak
ulator, which has asked it to classify a contentious loan as a non-performing asset, public sector bank does not help.
the central bank’s audit on such divergences is still not out for ICICI Bank. the RBI's work, injecting new money sets the stage for a next wave Some people are enthusiastic about the “big
bazookas” which were used by the UK and the US
However, the question goes beyond poor book-keeping. If even some pri- of bad behaviour by banks Treasuries in the 2008 crisis. It has been suggested
vate sector banks are showing signs of stress, perhaps the additional question
that it is a moral obligation for India to put such
of distress in the corporate sector should be seen as having some explanatory
1.35 trillion or ~2.11 trillion (~1 trillion = ~1 lakh The second question that we should ask is: Do we vast fiscal resources to work for Indian banks.
power. While HDFC Bank has claimed that most of its slippage in NPAs has
come from its agricultural loan portfolio, other banks, such as ICICI Bank, are
struggling with underperforming assets in sectors such as iron and steel. Last
~ crore): These are large sums of money. It is hard
to comprehend such large numbers. ~1.35 tril-
lion is 11 per cent of the net tax revenue of the union
have policy levers through which the flow of capital
through non-bank channels into the economy can be
sharply augmented? In our case, the answer is clear-
However, the answers to the six questions, in the
US or the UK, were very different. They had big
banking systems. They had no headroom to liber-
year, Axis Bank estimated that 15 per cent of its corporate advances were strug- government this year, and 100 per cent of the value ly “yes”. A great deal is easily done by way of liber- alise and thus augment non-bank finance. (They
gling. Banks that have lent to core sectors such as power are uncertain about for 2002-03. The first three phases of Delhi Metro alising the equity market, the bond market, foreign were also in a phase where deleveraging was
added up to ~0.7 trillion: This decision spends twice capital inflows, NBFCs, fintech, securitisation, etc. By required.) They had AAA credit ratings, sound pub-
how they will recover their money. The bankruptcy and resolution process will this money. pressing those levers, we can increase access to cap- lic debt management, and could surge debt. Their
hopefully begin to show results before the end of the year, but its effectiveness The problems of Indian banking will not end ital, and counteract the long winter of bank lending. marginal cost of public funds was about 1.5, reflect-
has not yet been proven. here. Economic policymakers will The third question that we ing sound frameworks for tax policy, tax adminis-
The larger point surely must be that India’s corporate sector, in general, has be posed with very big decisions on should ask is: Is the economy at a tration, and debt management. Their ministries of
not covered itself in glory. It has shown that it is simply a poor judge of risk. fiscal expenditures to bail out banks time when it makes sense for bor- finance did not merely put up money; they reformed
Regardless of whether it is a public or a private bank that is on the hook, many com- in the future also. What are the prin- rowing to rise? In India today, we their financial agencies with a vengeance. Deep
ciples which help us in making these are at a momentous change with experiential local knowledge (“metis”) is supremely
panies have demonstrated that they have borrowed more than is prudent. Part decisions? the implementation of the important in fields like economics.
of the problem has been the general inability to enforce contracts — which The first question that we should Insolvency and Bankruptcy Code Look back at the UTI crisis. While taxpayer mon-
means that renegotiation and recalibration of already-done deals is very much ask is: How badly does India need (IBC). Corporations in India have ey was used, this was accompanied by deeper
part of the business plans of some corporate houses. The growing NPA problem banking? There are other countries traditionally been undisciplined reforms: The UTI Act was repealed, the privatisation
should cause a relook at the norms surrounding contract enforcement in India. (e.g. the US, the UK, Japan, China) and habitually delayed payments. process for UTI was begun, and UTI was placed
where the banking system is quite The IBC has empowered a single under the regulation of the Securities and Exchange
large. But in India, banks do not aggrieved operational creditor or Board of India. The key persons (Yashwant Sinha,
SNAKES & LADDERS
Message from Catalonia matter that much to the economy:
We are a market-dominated econo- AJAY SHAH
my. The 2,400 large companies
lender or bondholder to initiate the
bankruptcy process. Indian firms
now need to up their game: They
S Narayan, Jaimini Bhagwati, P Chidambaram,
UK Sinha, KP Krishnan, M Damodaran) pushed
reforms alongside taxpayer money. That episode
Greater self-determination is becoming a leitmotif worldwide alone have equity market capitali- need to run a tight ship and make all was harder as policymakers had to figure out the
sation of ~131 trillion. If we were able to count the val- payments on time. This will require reducing lever- steps on the fly. In contrast, today, mature design
W
ith the imposition of direct rule on Catalonia and scheduling ue of equity in the remaining firms, it would add up age. A decline in leverage for a few years is appro- work of financial sector reforms (FSLRC) is at hand,
regional elections for December 21, the Mariano Rajoy government to a lot more. In contrast, the credit by all banks to all priate, and was going to come about even if there was which reduces policy risk.
may have staunched the secessionist impulses of one of Spain’s private persons (summing up across firms and indi- no banking crisis.
viduals) stands at ~80 trillion. Banking is less impor- The fourth question that we should ask is: Do we The writer is a professor at National Institute of Public
most significant regions — but only temporarily. Madrid’s violent
tant to India than is the case elsewhere. have the fiscal soundness through which increased Finance and Policy, New Delhi
crackdown on a poorly attended referendum on independence on October 1 has
exacerbated a crisis that has been simmering for years. Complicating the issue is
the fact that the reasons for this explosion of Catalan irredentism are opaque —
even to the Spaniards — and it is far from clear that it has unalloyed support with-
in the local populace, either. Like Brexit, the issue of Catalan independence is a
polarising one within Catalonia, once the hub of the Republican resistance to the
Bank recap: Band aid for cancer surgery
military dictatorship during the Spanish civil war in the 1930s. successful and thoughtful fund manager nice lesson for finance students and new investors. ernments often force PSBs to do the wrong things.
To be sure, Madrid’s overreaction, though unwise, is understandable.
Catalonia is one of Spain’s more prosperous, culturally vibrant regions. If it
breaks away, the Spanish economics ministry says gross domestic product will
A sent me an email me the other day, drawing
a simple analogy about the government’s
plan to recapitalise public sector banks (PSBs), an
Everyone is very happy that resolution has been
found for one more enormous banking crisis caused
by a flawed model fashioned in late 1969, which pro-
This is best exemplified by how banks supported
corrupt and incompetent managements in com-
modities and real estate sectors and even outright
fall by a quarter and unemployment will double. Catalonia accounts for almost analogy that I have expanded upon. Assume that moted and perpetuated enormous inefficiency, cor- frauds during the United Progressive Alliance. In
there is a bunch of listed companies controlled by a rupt lending practices, and repeated bailouts. some cases, it was corruption at bank manager lev-
a fifth of Spain’s GDP, the fourth-highest among the country’s 17 regions. Though promoter family. The companies are value destroy- What should have been done? Accountable man- el; in most others it was politicians who directed
debt-driven austerity has had its impact on Catalonia as much as the rest of the ers, racked by corruption. The promoter does not pay agement and responsible ownership lie at the heart fraudulent lending. To this, we need to add political
country, its unemployment rate is below the national average of 13.2 per cent in much attention to running these companies. The of any profitable business enterprise. The job of own- compulsions. P Chidambaram, who is now criticis-
the second quarter of 2017. The region accounts for a quarter of Spanish exports, companies are short of capital because of piled-up ers is to allocate capital correctly and the job of man- ing the government’s recapitalisation plan, was
and last year, it was the second-largest recipient of foreign direct investment. losses but are sitting on a large amount of public agers is to deliver on business targets. What unites encouraging PSBs to make thousands of crores of
deposits that they had raised. One day the promot- and drives both of them are incentives — higher educational loans with very little asset backing
Between Barcelona and the famous Costa Del Sol, Catalonia attracts more tourists
er decides to use the public deposits through devious profits and market value for owners and higher com- because it was socially desirable. Bank manage-
than any other region in Spain. schemes. The companies are supposed to loan the pensation and market value for managers. In simple ments are not incentivised to do the right thing,
The problem, it appears, is a variation of the Dutch Disease, which afflicts money to the promoters, who terms, this is the template of mod- cannot say no to politicians; nor are they penalised
resource-rich regions. Supporters of an independent Catalan Republic claim would then use that money to buy ern capitalism and wealth creation. for their own corruption. How can this situation be
that breaking away will be financially more secure because it will not have to pay new shares in the companies, argu- An absence of any of these factors improved by pouring more capital, and that too
taxes to Madrid. All of this suggests that constructive redistributive policies and ing that this would strengthen the leads to misallocation of capital through the easy option of financial trickery? We
companies even though the same and losses. Unfortunately, while a needed surgery; we got band aid.
sensible negotiations may work better than heavy-handedness to defuse tensions.
management continues to run loss-making private enterprise may What is mystifying is that such easy options come
Such contemplated moves as disallowing Carles Puigdemont, the Catalan pres- them. Last week, the government of close down or get acquired, a loss- from the same government that is actively promot-
ident, and his pro-independence colleagues from contesting the December elec- India did exactly that when it making government enterprise is ing the narrative that for the first time we have a
tions will do little to help the situation. announced a scheme to recapitalise like a gambler who always gets a Prime Minister who is unafraid to take bold decisions
The December elections will be an inflexion point in more ways than one. PSBs. It took out money that does stake for the next game, no matter and strike hard at corruption and inefficiency. As an
If a pro-independence regime is voted to power, the Catalan Republic may well not belong to it and will put it back how many times he blows up. So, example of this fearsome policymaking, the gov-
as its own! for these enterprises, far from cre- ernment holds up the example of demonetisation,
become a reality. A domino effect is inevitable. Though Spain is culturally inte-
How would investors and regu- IRRATIONAL CHOICE ating incentives, we create mal- which put the whole country on queue and over-
grated not to see the kind of turmoil that tore apart the Yugoslav republic in the lators react to a scheme like this if a DEBASHIS BASU incentives, laying the ground for turned the lives of workers, farmers, and small busi-
early nineties, it is instructive to remember that the violent Basque separatist private-sector promoter had done the next irresponsible blow-up. nessmen. The next example of a bold step is imple-
movement, which terrorised the country for over four decades, ended only in this after having tried the same Democratic governments all menting the goods and services tax despite poor
2011 and may be motivated to revive its claims. Understandably, the European thing earlier and failed? The regulators would have over the world are inherently bad in acting as respon- preparedness. It is strange that a government that is
Union has been steadfast in its opposition to a breakaway Catalan republic, but dubbed this a prime example of continued misgov- sible owners, giving rise to the maxim that is now a bold and coercive has meekly chosen to do more of
ernance by a repeat offender. And investors would cliché: “The government has no business to be in what has repeatedly failed to work in the past. And
the crisis certainly adds another layer of uncertainty to Europe after Brexit.
dump the shares in anger and disbelief, especially business.” Even Prime Minister Narendra Modi sadly, rating agencies, the business community, fund
Perhaps the biggest message from prosperous Catalonia is that the demand for because capital would bloat and they would get dilut- declared this before the 2014 elections but prompt- managers, and analysts, who know this, have chosen
greater self-determination is becoming the leitmotif worldwide. From California ed — again. Well, poor governance and misallocation ly forgot about it. The government, as the owner of to act as compulsive cheerleaders.
and Texas to Greenland, the impulses for autonomy remain alive and kicking of capital are for the finance textbooks. In real life, PSBs, can neither provide capital (it is bankrupt)
and can be ignored only by the most obtuse of political leaders. things don’t happen that way. In real life, regulators nor provide management (no focus and time). The writer is the editor of www.moneylife.in
kept quiet while investors got delirious with joy, in a Indeed, when the going is good, democratic gov- Twitter: @Moneylifers
Aadhaar Overkill
Pranab Bardhan larly in local clusters) to get involved in
the training of workers somewhat in the
Many people think line of the German model, the world’s
that one of the major most successful vocational training
Originally conceived as an empowerment economic failures of programme. German business largely
the current govern- funds such programmes as this gives
tool, it is disempowering citizens now ment is in the area of them an opportunity to look for and get
jobs. It came to power as apprentice good-quality workers. In
A
fter months of pestering customers to mandatorily link bank ac-
promising jobs for ‘aspirational India’ in any case a vocational programme that is
counts with Aadhaar numbers by December 31, the deadline has place of ‘doles’. While ‘doles’ remain not integrated with a job placement
been extended till March 31. Where bank accounts are linked largely in place, Labour Bureau data programme is unlikely to be viable.
with PAN, and PAN is seeded with Aadhaar, the government demand seem to suggest even an absolute decline A third suggestion relates to the
for Aadhaar-bank account linkage of PAN holders becomes redundant. in formal sector jobs over the last three agricultural sector. While most young
Technology can do this coupling instead of the constant badgering years, instead of any significant rise. people even in farmer families now want
The backlog of ‘surplus workers’ to get out of their traditional occupation,
for Aadhaar numbers, which is plain annoying for those not availing
that include the underemployed in all whether one likes it or not, the demo-
benefits like cash transfers, subsidies, pensions and scholarships. sectors (as estimated in the India Employ- graphics and occupational distribution
Threats of suspension of bank accounts, where people save their ment Report 2016) exceeds 50 million of our labour force is such that for a long
hard-earned money, for non-compliance under Prevention of Money workers – this does not include the women time agriculture will have to continue to
Laundering Rules add insult to injury, particularly considering that who are often discouraged dropouts be a main source of jobs. The important
the Aadhaar Act 2016 has no provision making enrollment compulsory. from the labour force. Rhetoric or electoral task is to make those jobs more productive
‘jumla’ aside jobs, particularly formal and higher-paying.
No different is the insistence on Aadhaar to verify mobile connec-
sector regular jobs which the young in The area where India has a large
tions, when the government should India hanker after, have been a chronic potential is in non-crop agriculture –
instead be trying to enhance mobile problem over several decades. fruits, vegetables and livestock farming.
Chad Crowee
connectivity. The fear of local SIM If one takes the whole period since These activities are also highly labour
cards falling into terrorists’ hands 1972-73 when National Sample Survey intensive. But for making this sector
fails to take note of facilities like started collecting employment and more productive and job creating at least
unemployment data on a comprehensive two essential pre-requisites are (a)
international roaming, prepaid cards,
basis, job growth has been relatively slug- First, a policy of wage or payroll investment in cold chains and refri-
or satellite and internet telephony. gish (except for short spells, as in the first subsidies. A significant part of current gerated transport; and (b) streamlining
Unique identification was originally decade of this century, and that too mainly budgetary subsidies, both at the central Agricultural marketing the marketing arrangements.
sold to citizens as a way to efficiently in the construction sector). Many alter- and state levels, are in the form of capital remains one of the most Agricultural marketing remains one
deliver welfare benefits without native solutions for the job problem have subsidies – subsidies on interest or credit of the most unreformed and cartelised
duplication and pilferage by inter- been suggested, like larger investment in and tax concessions of various kinds for unreformed and cartelised sectors in India. More direct farm-
mediaries. In the last couple of years, infrastructure (particularly electricity capital investment. We do not have precise sectors in India. More direct to-shop arrangements with minimum
and roads), education and credit to small estimates, but my back-of-the-envelope involvement of collusive intermediaries
however, it has grown into an all-encompassing Leviathan even as and medium enterprises. Some of these calculations suggest that these subsidies
farm-to-shop arrangements have to be forged. Our farms are (and will
there has been little progress on welfare. On one hand we have involve structural problems which can be may come to 5% of GDP. A part of these with minimum involvement remain for quite some time) too small.
central and state governments conceiving uses for Aadhaar in resolved only in the medium to long run. subsidies, which currently encourage of collusive intermediaries They have to be amalgamated into
everything from property to death registration, hailing ambulances Others have pointed to stringent capital intensive methods of production, farming companies or cooperatives at
labour laws which inhibit firing (and may be converted into wage subsidies. have to be forged least for the sake of marketing (and input
to getting rations. The enthusiasm has rubbed off on the private
therefore hiring) labour. Some state In fact the same businessman in the programme has not made much progress. provision). The Amul model of collecting
sector too, with three-year-olds requiring Aadhaar for nursery
governments have relaxed those stringent formal sector may be paid the subsidies, The ministry of skill development has from small producers and then cooperati-
admissions and job opportunities tied to Aadhaar submission. laws over the last three years and it may but now for hiring more people rather now abandoned the earlier much-hyped vely marketing and distributing has to be
Making biometrics a keystone to access so many essential services be too early yet to find much conclusive than machines. A cap may be imposed on but unattainable target of training at extended all over India in these productive
invades privacy, increases the potential for abuse, makes doing evidence of that making a big difference the wage subsidy on any particular job least 300 million workers in new skills by sectors of non-crop agriculture if profit-
business difficult and ties up everyday activities in red tape. Fake in job creation. My own empirical hunch so that the incentive remains on hiring 2022. Currently less than 5% of the total able job creation is our objective.
Aadhaar card rackets have been busted that allegedly exploited has been that labour law is a constraint, more people than on paying large salaries work force has formal vocational skills. These suggestions for job growth are
but it may not be the most important or to particular employees. Similarly, Of about 3 million people who have within the realm of feasibility even in
vulnerabilities in the UIDAI enrollment ecosystem. Biometric
even a binding constraint. possible scams in the form of fake received some training by July 2017 the short to intermediate time horizon.
verification is susceptible to failures and unauthorised usage. Poor While the job crisis remains severe and payrolls may be avoided with appropriate under the current scheme, less than 10% Meanwhile the time bomb of not enough
connectivity, lax cyber security and data storage standards heighten potentially explosive in the socio-political biometric identification. have reportedly received any job offers. jobs for our young people keeps ticking.
the risks. All-encompassing Aadhaar linkages create the framework sphere, three possible ways of relieving it A second suggestion relates to skill One possible remedy may be to The writer is Professor at the Department of
for mass surveillance and enhanced cybercrime. It’s time to roll back have not received adequate attention. formation. The current Skill India encourage the business sector (particu- Economics at University of California, Berkeley
the Aadhaar empire and initiate restrictions on its mandatory use.
The passport, driving licence, PAN, ration and voter cards all serve
specific purposes unlike Aadhaar. Prime Minister Narendra Modi
once declared, rightly, “minimum government, maximum governan-
‘We have our own style … in today’s hockey the most
ce”. But it’s important to remember the converse of that proposition
is equally true: maximum government, minimum governance. successful style is to play fast and let the ball do the work’
When Sjoerd Marijne was hired to coach tournament? needs to be consistent with their high- tions are a must in penalty corners
I
n what is turning out to be a crisis for Indian sports, the World to Sanjeev Singh about his plans: three weeks after my appointment as many qualities in our team and we will We work hard and more importantly
Anti-Doping Agency (Wada) has warned that India’s National coach. But I must say it has been a good use modern techniques to make them we don’t rely on any one person to
Anti-Doping Agency (Nada) could lose its accreditation if Indian ■ India won the Asia Cup after a gap experience for me. better. In today’s hockey, the most deliver all the goods. We have 3-4 people
cricketers continue to refuse to submit themselves to an international of 10 years. How would you rate It is important we play in the successful style is to play fast in the team who can play in
dope testing regimen. In fact, Wada has asked the International the team’s performance? Hockey World League (HWL) and let the ball do the work. different positions which
Cricket Council (ICC) to direct the Board of Control for Cricket in I’m happy with the team’s per- finals which will help This Indian team can be makes it difficult for oppo-
formance. It is important to win us in improving very dangerous in counter- nents looking for an opening.
India (BCCI) to allow drug testing of Indian cricketers. Wada has finals and I’m glad the boys kept their our performance. attacks. If we intercept the We play well as a team and
also written to Union sports minister Rajyavardhan Singh Rathore heads down and focussed on winning the It is not easy to play in ball, we can be dangerous want to have a player driven
asking for urgent assistance in the matter. tournament. Ideally we would have liked Asia where India is from every position. Individual skills team. It’s not only about my plans for the
If Nada indeed loses its accreditation, it would put the participation to end the tournament by winning with a expected to win all the are also critical in the game. We have team but it should be about plans for the
of all Indian athletes in international sports big score in the final. But that’s some- time. When one plays individual skills and we must not forget whole team which includes suggestions
under a cloud. The government has therefore thing we will discuss later as a team. against teams who to use them. The game has to be a mix from players as well.
Right now it is time to enjoy the victory. are higher ranked of speed and skill. ■ Is it easier to coach a younger team
responded, rightly, by giving Nada full power to ■ There were reports that you were than us, mistakes ■ Do you think India’s low rate of because they are open to suggestions
conduct the dope tests. At the heart of the problem not happy with the way we played in will get punished. converting penalty corners during rather than coaching a team
is the objection of Indian cricketers to the Wada some matches during the tournament? So the team the tournament is a matter of which has senior players with big
code’s ‘whereabouts’ clause. The latter stipulates It’s not that. I was happy but we can concern? reputations?
that athletes have to provide details of where they improve. At times there is a tendency to You have to be really quick I don’t know. Yes, it is true that young
can be contacted for a one-hour window every day dribble too much. We must realise that with release and stopping people are open to change but then so are
speed and control are the ingredients the ball nowadays because the senior players. I am not the one who
to facilitate out-of-competition drug testing. For years Indian cricketers for a successful game. We have to use players run so fast. The is not going to change them. It has to
have opposed this on the grounds that the provision violates their technique in the right way so that it Malaysians be a joint effort. How to defend or attack
privacy and presents a security challenge. This argument is hardly improves our skills. Good passing is were always during the game is a dynamic call taken
tenable, as sportspersons everywhere undergo such a regimen. critical for a team and I am glad that running on the pitch and I am really happy the
The reality is that Indian cricketers and BCCI had hitherto used our boys know how to make the right fast so it boys are doing it successfully. As far
their clout within the international cricket fraternity to oppose Wada’s choices. There are a lot of good becomes as senior players are concerned,
things in the team but there is difficult to internal competition is really a normal
stipulations. But with the Supreme Court clearly ruling that BCCI always scope for improvement. score in the phenomenon in any team. I think it’s
is a public body discharging public functions, there is no scope for ■ As a coach, what is the most traditional good for the team because it pushes
exception from Nada testing here. And with the risk of other Indian important takeaway from this way. Varia- players to perform at a higher level.
sportspersons being affected by Nada’s possible disaffiliation, BCCI
will have to fall in line. There’s no logic in exempting, say, Virat Kohli
from a drug-testing regimen that even Cristiano Ronaldo follows.
dilbert Sacredspace
Tree As Guru
F
calcium and human kindness in him, had quietly flowed past them, and was ear creates all kinds of illusions, Now, there are different kinds of is the questioning of life. Life won’t thought is created and then put into
now generating one out of every five rupees in India’s farm sector. “I’m problems, and until we really safeguards, of feelings of certainty, the leave you alone. action.
amaized Milk has risen the top considering how many people are lactose intole- understand it, go into it very feeling that one is being protected as You like to be left alone; you like to There are outward and inward
rant,” grumbled Maize, with his corny sense of humor. “Bloody *&^%$#@! deeply, fear always distorts our actions when the parent protects the child. We close all the windows, to be safe inside. securities of ideas. Remove them or
This is racism!” griped Ragi, a dark, coarse grain who served in the Milletary throughout life; it twists our ideas, the want something to give us But the more you enclose question those ideas outside and inside
with his cousin Sorghum. “Yeah, I wish I was as white as Milk. Lot more people way of our life; it creates barriers between certainty. So we have outward yourself, the more life comes of me, and i am afraid. So, i will battle
would have eaten me,” agreed Green with envy. people; it certainly destroys love. protections and inward and breaks your windows, and with you, i will push you away so that
“He comes from animals and not from fields. Therefore, he is not a The more we understand fear, go into protections, outward securities so the struggle begins. So you do not touch my ideas.
crop and should be considered non-vegetarian!” trilled Almond, who it, the more we really are free of it; the and inward safeguards. outwardly, you want security, I like to think that i am safe in my
had come to the meeting with her nutty cousins Pistachio, Cashew, greater is our contact with what is When you close the and society, and family. And ideas, beliefs, prejudices, but is there
and Macadamia. “Why should that disqualify him?” Honey, who had once around us. Most of us want some kind of windows and doors of the inwardly you seek security, safety? They are walls which are not
dated Milk, asked sweetly. Milk steamed into the meeting all frothy with safety, security; somebody on whom to house and live inside, you feel comfort, in an idea. real; they are just my ideas, my sensa-
success. He was accompanied by his sidekicks: Curt Yogurt, who had a sour look, lean. As a small child holds on to the very secure, safe, unmolested. The whole world is built on tions. Inwardly and outwardly there is
Paneer Tikka, who wore a cheesy smile, and his personal heavy, Butter the mother’s hand, so we want something to But life is constantly knocking the ideas, but you will find that no certainty. So, seeing all this, really
Bouncer. They all worshipped milk and thought he was a really cool doodh.
“Gluten morning!” Milk sneered at the Cereals. “I’ve made it to the top. Batter
lean on; somebody to love us. Without a
feeling of security, of safety, without a
on the door, trying to push the
windows open so that you may speaking merely clinging to an idea has
no value. Have you noticed how
thoughtful persons begin to be free
from any kind of security, inward or
late than never, huh?” The Carbs had no option but to absorb the barbs. They mental safeguard, we lean, do we not? see more, but if there is fear and tree your fathers, your mothers, outward. This is extremely difficult
had spent a lot of dough to keep Milk at bay, but failed. In the shadows, two lesser- Because we have leaned on others, you close all the windows, the knocking your teachers, your aunts, cling to what because it means that you are alone, that
known Cereals who had not been floured nodded to each other, noting there was we feel confused, we are afraid, we do grows louder. So, the more outward they think? you are not dependent. The moment you
more than a grain of truth in complaints against Milk. With a Rye smile, they not know what to do, think, or act. So, securities you cling to, the more life How do you have an idea? It is a depend, there is fear, and where there is
wondered if there would come a day when everyone would Oat for them. when we are left to ourselves, we are pushes you. The more you are afraid, response to a sensation, is it not? That fear, there is no love. (Courtesy: KFI)
18 THE ECONOMIC TIMES The Edit Page THE ECONOMIC TIMES | MUMBAI | MONDAY | 30 OCTOBER 2017
Hard Resolve to Youth participation in politics is still dependent on wealth, legacy and connections. This must change
T
And it’s not that political parties Change occurs at every instant
minister Arun Jaitley stressed the structural nature of he new Chancellor of Aust- don’t seek the membership of young of time, which, in itself, is chan-
the change being wrought by the government in econo- ria, Sebastian Kurz, is just Indians. Most major political parties geable. That which is bound by
31. The new Prime Minister have youth and student wings. But th- a certain cause-and-effect rela-
mic policy. His resolve to stay the course of reform, despi- of New Zealand, Jacinda Ar- eir growth, in politics, is seemingly tionship, where change is inevi-
te criticism and setback, was heartening. Railway min- dern, is just 37, and also the capped. While the adoption of an in- table, cannot be independent.
ister Piyush Goyal revealed plans to carry out huge inv- world’s youngest female leader. Tony formal age of 75 for politicians to re- If we are bound by time, are we
Blair and David Cameron both beca- tire in some political parties is a wel- dependent or independent? If
FILE PHOTO
estment over the next five years. Telecom czar Sunil Mit- me Prime Minister at the stately age come development, much more ne- man is dependent, it means he
tal buttressed the theme of revival in investment, citing of 43. Emmanuel Macron, himself 39, eds to be done. is independent, too.
his sector’s big outlays. is now the President of France. Youth participation in politics, for Mahavira saw the world in ter-
The average life expectancy of a po- now, is dependent on wealth, legacy Let him inherit the earth ms of two perspectives, or naya:
Banker Chanda Kochhar pointed out that credit growth litical party, globally, is just 43 years and connections. There are other ways the transcendental viewpoint,
is accelerating. Maharashtra chief minister Devendra — as voters grow tired of decrepit po- to empower young, aspiring individuals. lines receiving skills training on neg- people approaching the age of 18 to or nischaya naya, and the empi-
Fadnavis brought to the table his sta- litical parties, such parties are emb- Serbia ran a multi-year 500 Young otiation and advocacy, along with pro- run for office. Kenya has announced rical viewpoint, or vyavahara
racing new blood and empowering it, Political Leaders programme, which jects to implement in their parties. a National Youth Policy (2006) and a naya. According to the first, ev-
te’s ambition to grow into a $1 trillion to survive. sought to foster youth political parti- Unicef funded an Innovations Lab National Youth Act (2009), both of wh- ery object is seen in its intrinsic
economy by 2030. General Atlantic CEO In comparison, in India, political cipation by identifying and selecting in 2010-13 in Kosovo, selecting social- ich encourage greater electoral par- form. There is no substratum or
William Ford found encouragement in parties seem frozen, preferring to con- youth leaders to rebuild democracy in ly impactful ideas and seeking their ticipation for the youth. substance. No cause, no effect.
tinue with their allegiance to senior- the country. The programme sought implementation by aspiring leaders In addition, our political structure No creator, no creation. What-
India’s ‘macroeconomic sweet spot’. ity and hierarchy. In 2014, the current to provide political training for young while providing them with mentors, ideally should offer multiple avenues ever is, is its intrinsic form. The
There is good reason to not dismiss all Parliament had just 12 MPs under 30, leaders from various backgrounds, necessary equipment and governme- for political empowerment. Municip- vyavahara naya deals with its
this positivity as the kind of easy che- with only 53% of its members under while developing a network of youth nt’s institutional connections. UNDP aland panchayat polls should give rise elaboration. Within its ambit
55; while the average age of an MP leaders, who could develop policy sol- hosted the Asian Young Leaders pro- to leaders who have experience at the lie the relationships between
er folks put on when gathering merely was typically above 50 (54 for the BJP, utions across party lines and opening gramme in 2007-09 seeking to enhan- ground level. Such leaders, after some the substratum and the subst-
to have a good time. Despite the recent slowdown and a 57 for the Congress in 2014). establishment doors. ce the leadership skills of young Asi- experience, should be able to run for ance, cause and effect, creator
The programme helped create a con- an leaders through a combination of state and eventually the central legis- and the creation.
slew of infrastructure projects that have gone sour and re- Some Careers Begin at 58 ducive political environment to emp- national and regional workshops. lative seats. After all, this is how lead- Dharma is an exposition of the
sulted in a huge burden of bad loans on the banks’ books, As our population continues to grow ower youth leaders, giving them stro- ers are found in healthy democracies. entire reality and its norms. So,
inability of many large companies to raise credit and a younger (our median age is 25), our nger influence on party policies, wh- Reservation for Youth? However, the decline in inner-party its purview includes the organ-
Parliament continues to grow older. ile promoting bipartisanship. UNDP Structural interventions can help as democracy, rising campaign spending isation of entire reality. Indian
general dip in real capital formation, India’s fundamen-
The first Lok Sabha had an average implemented a national youth civic well. A number of countries like Mo- and rotational reservation in munici- philosophers have focused pri-
tals remain strong and its demographic transition conti- age of 46.5 years, which rose to 51.4 education campaign, with $2.6 milli- rocco, Pakistan, Kenya and Ecuador pal, panchayat and mayoral elections, marily on a dharmic interpre-
nues to be at a phase that primes the economy for growth. years by the 10th Lok Sabha. Political on of funding, which sought to incre- set aside seats in their legislature for have created barriers to upward mo- tation of independence — they
leaders reaching an age beyond reti- ase civic knowledge and skills, and youth leaders. After all, if reservation vement for aspiring young politicians. didn’t mix rules of governance
While GST, bank recapitalisation and state-sponsored
rement continue to hold on to power, change attitudes towards the nomi- can be provided to a range of ethnici- Political parties need to actively con- with the eternal rules of dhar-
investment are large, bold moves, India needs more. Poli- delaying any sign of vanaprastha. nation of youth leaders in politics. ties and caste-based groups, why not sider reservation for aspiring youth ma. So, they tried to promote
tics must stop patronising power theft. Political funding Meanwhile, others seek to hold on Kenya saw the National Democra- for the youth? from non-political backgrounds in independence in governance,
to a seat until their progeny is ready tic Institute facilitate a Young Politi- Countries like Ecuador, El Salvad- certain positions, along with rolling but did not frame separate gui-
must become transparent, to uproot crony capitalism
to take it. A consequence of this is cal Leadership Academy since 2001, or, Senegal, Uganda and Burundi ha- out initiatives to induct professionals delines. The authors of Smriti
and restore integrity to the civil service. Judicial speed that most political parties in India with young politicians across party ve lowered the minimum age for can- into mainstream politics. and Purana texts have, however,
and efficiency must go up. These must happen in a back- didacy in all legislative elections to 18. Younger politicians understand given importance to intrinsic
In Bosnia, if no candidate receives a what a youthful India needs and what individual freedom.
ground of social harmony and effective governance that majority in the election, Article 13.7 their aspirations are. Political parties Spiritually, independence is
generates security, health and education. Less inner-party democracy, rising poll spending and of its election law awards the seat to should be encouraged to provide spa- action and dependence is reac-
rotational reservation in municipal, panchayat and the youngest candidate. ce for such leaders to grow on merit. tion. Ahimsa is action, himsa
El Salvador actively conducts cam- is reaction. Mahavira identified
mayoral elections have created barriers for the youth paigns in schools encouraging young The writer is a BJP MP non-violence as dharma and
violence as adharma. So, inde-
released from hobbling constraints. Abe’s election promises Boria Majumdar ld: India is now a sports destination. history books after being two goals te investment, besides giving a
While England continues to celebra- down, so did India as hosts in front of bigger push to public invest-
precisely such redemption. te and as the U17 World Cup Golden a political class present in the VVIP ment that will lead to creation
Hope, led by Tokyo governor Yuriko Koike, imploded. Two Seven years earlier, it had all ended Ball winner Phil Foden is hailed as This isn’t about cricket section that usually plays more spoil- of more jobs. Businesses need
other factors also helped the LDP in the in shame. The 2010 Commonwealth the next big thing in English football, sport than sporting. to be innovative and imagina-
win: Japan’s ageing population and an ag- Games (CWG) has gone down in sp- it isn’t wrong to claim that the other made the semi-final a show-stopper Prior to the final, the tournament tive. We must also improve the
orting history as a major opportuni- real winner is the Indian crowds who for Kolkata’s football enthusiasts — had already prompted Fifa President quality of education and focus
gressive North Korea that has twice test- ty lost. Tales of administrative ineffi- came to watch and follow this unpre- and for sports lovers across the cou- Gianni Infantino to state at the Fifa on skill development to enhan-
ed missiles over the northern island of ciency and corruption hogged head- cedented football spectacle. ntry who followed the match live on Council meeting on October 27, “Ind- ce productivity and the count-
Hokkaido. For the nervous Japanese vot- lines and, as some would argue, Ind- More than 66,000 people at the Salt prime-time television. ia is a football country now.” ry’s export competitiveness.
ia wasn’t ready to host a mega-event Lake Stadium in Kolkata watched And as Brazil lost and gave up their India is ready to take the next step
er, Abe was the familiar and steady hand
of a global scale. Brazil play Germany in the quarter stakes to become the best U17 foot- towards hosting bigger and better AVISH BINDAL
in a time of crisis. That Abe’s economic 101medals, unprecedented in Indi- final. What makes the attendance ball side in the world, the Salt Lake mega sports events in the future. Fifa Ujjain
policies have resulted in the longest spell an sporting history, have been all but more interesting is that an India cri- Stadium witnessed unprecedented would do well to come back to India,
of consistent, albeit low, economic growth in a decade also help- forgotten. What remains is a scarred
memory, of what could have been and
cket series was on at the same time.
Affordable ticket prices and the occa-
scenes in the stands. Tears rolled
down the cheeks of fans as a sponta-
as it remains starved of quality foot-
ball action in its stadiums. Be Cautious With
ed the LDP. Similarly, US President Donald Trump’s actions
conveyed that the post-World War II ally could not be relied on
what wasn’t.
Seven years down the line, the Und-
sion of seeing the best in action, you-
ng men, may among whom in a few
neous emotional outpouring rarely
seen in a sports encounter anywhe-
Exactly 12,29,826 people watched
the 2011World Cup cricket on home
Bank Mergers
to defend Japan. Voters opted for the person with a track reco- er-17 Fifa World Cup is a very differe- years will be stars in England’s Pre- re in the world. And this without any soil, and 13,47,153 people watched the This refers to the news report,
rd. Now that Abe has secured this mandate, it gives him the po- nt story. India failed to make it to the mier League and Spain’s La Liga, ‘Team India’, or a whiff of nationali- Fifa U17 World Cup. I rest my case. ‘Let PSBs Stabilise Post Fund
Infusion Before Mergers: Rai’
litical space to amend the Japanese Constitution, to allow the (Oct 28). While allocating funds
pacifist constitution, dictated by post-war occupier, the US, from the proposed recapitali-
and acquire a normal military capable of offence, should that sation scheme, the governme-
be the best form of defence, for Japan and its allies. INFORMATION TECHNOLOGY SLOWDOWN nt’s considerations should go
beyond just factoring in the
This will help improve the security in the region, especially in non-performing asset levels of
can, and offer reasonably high levels erge because customers are changing. New Delhi
with the best and most economical suggestion: stay put and of English proficiency. More critical- Resources will have to be organised McGrath is Professor of Management,
let the Parliament building(s) be repaired. After all, MPs ev- ly, the tech budgets that once grew ex- around opportunities. Access to as- Columbia Business School, and Mune-
Letters to the editor may be addressed to
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THE TRIBUNE
08 OPINION CHANDIGARH | MONDAY | 30 OCTOBER 2017
S
TARTING with the visits to Afghan strategy. Of course, the US-
New Delhi by Russian presi- Indian congruence is as much about
Constitution defines the lakshman rekha dential envoy Zamir Kabulov Pakistani policies as about China’s
and by Afghan President growing regional influence. Washing-
I
F last week’s developments are any indication, the government Asharf Ghani soon thereafter, to the ton and Delhi oppose the CPEC, which
and the judiciary appear to be headed for another round of con- regional tour by the US Secretary of gives China access to the world mar-
frontation. First, Attorney General KK Venugopal came close to State Rex Tillerson, recent weeks ket through territories that are beyond
admonishing a Bench headed by CJI Dipak Misra when he suggest- have thrust the Afghanistan issue to American control, while also enhanc-
ed that the Supreme Court had acquired vast powers to become the the forecourt of regional politics. The ing Pakistan’s strategic autonomy to
world’s most powerful court and that in its expansionist binge it had emergent regional alignments hold withstand US and/or Indian pressure.
added at least 30 new rights to the Fundamental Rights. The Attorney dark forebodings that the Afghan Ghani’s visit to Delhi displayed a
General was probably reflecting the gathering impatience in the exec- problem is not going to be solvable in mutual intent to boost security coop-
utive with the apex court. The ball was, accordingly, picked up by a near-term scenario. eration to provide a regional under-
Union Minister Arun Jaitley who chided the judiciary for allowing The interplay of three templates holds pinning to the open-ended US mili-
itself to be influenced by the events of the day, instead of inculcating the key to the future scenario — US tary presence in Afghanistan.
“judicial statesmanship.” The intended rebuke was all too obvious. strategy toward Afghanistan; US-Pak- To be sure, a geopolitical divide is
istan relations; and, the power dynamic steadily developing. Kabulov’s recent
In its turn, the Supreme Court reminded the government the issue
regionally and internationally. The US consultations in Delhi; Ghani’s
of drafting of Memorandum of Procedure (MoP) for judges’ appoint-
strategy announced in Washington in unprecedented allegation on the eve of
ments “cannot linger on for an indefinite period.” This remains an August continues to be essentially the his visit to Delhi that Russia ‘supports’
unfinished — and, touchy — business ever since the National Judicial same as before, with some tweaking ON ALERT: A low-intensity war will give the US a reason to not pull out its troops. the Taliban — and Moscow’s rejoinder
Appointments Commission was ruled unconstitutional in October here and there in the ‘terms of engage- questioning his locus standi to speak for
2015. Of late, various judicial pronouncements have had the cumula- ment’ of the US military, in the use of act as mediators mentoring orderly unless it cooperates. However, Tiller- all Afghans — visit by former Afghan
tive effect of slowing down a politically rampant government. On sev- air power and troop deployments. The transition. This is despite the US spend- son’s visit to Islamabad revealed that President Hamid Karzai to Tehran — all
eral issues, like deportation of the Rohingya, the government had rea- stalemate continues on the ground and ing roughly $8 billion annually on Pakistan is hunkering down. Unlike in these underscore the growing percep-
son to feel strongly that the judiciary could have kept away. the security situation shows no signs of Afghanistan (which has a GDP of $2 bil- the tumultuous past history between tion among regional states that the con-
It seems tempers will not cool down easily. No executive, especially improvement. The Taliban, which is in lion). The US is openly courting India to the two erstwhile allies, the US lacks tinued US presence in Afghanistan is
one enjoying a clear majority in the Lok Sabha, likes to feel checkmat- virtual control of around 40 per cent of put more money on the table. There is any real influence on Pakistan. Pak- driven by geopolitical considerations
ed by the “un-elected” judges. Judges often get reminded of a “laksh- the country, has stepped up its offensive a desperate need to end the war. istan is no longer a recipient of US assis- rather than the fight against terrorism or
man rekha”; routinely, the judges also commit themselves to the with deadly attacks on high-profile tar- The sensible thing is to negotiate a tance, especially military aid. The Chi- the Taliban. Given the dubious US role
gets displaying its resolve to continue settlement with the Taliban. But the na-Pakistan Economic Corridor is set to in the rise of the IS in Iraq and Syria, it
restraint implicit in such a rekha. But the higher judiciary is only too
the war. No target is beyond Taliban’s Taliban has been demanding the vaca- bring in massive foreign investments is not surprising that Russia and Iran
cognisant of the political class’s proclivity to push controversial hot
reach. (The two-hour meeting of Tiller- tion of US occupation, which, of and the growing economic buoyancy (and Central Asian states) suspect that
potatoes in its corner. In fact, it has found itself embroiled in the politi- son with Ghani during his stopover last course, Washington cannot concede, strengthens Pakistan’s grit to resist US the US might resort to the use of similar
cians’ games—for examples, verdicts in criminal defamation cases and week took place in a windowless ‘strong given the imperative of maintaining pressure. Pakistan harbours deep mis- Islamist groups in Afghanistan as its
bails have vital consequences for political fortunes. Every government room’ deep inside the sprawling geopolitical tools. Simply put, the US’
has resorted to a “judicial inquiry” stratagem to see off a political sensi- Bagram base.) containment strategies against Russia,
tive moment. Judges are not innocent babes in the wood. Those who On the other hand, a potentially dan-
A geopolitical divide is steadily developing, but it is improbable Iran and China are fuelling geopolitical
oblige have won post-retirement perks, including a gubernatorial slot. gerous political crisis in Kabul, with an that the regional states —Pakistan, Russia, Iran and China — rivalries in the region, which, in turn, are
Judiciary needs to maintain its institutional equanimity and rectitude. unbridgeable trust deficit at the lead- inexorably transforming the alchemy of
ership level, has caused paralysis in seek to confront the US on the ground. They can, however, the Afghan conflict.
governance. Nothing brings this home create a ‘bleeding wound’ for America As things stand, the US is in no mood
more dramatically than that the three . to abdicate on own volition. Equally, it
top Afghan leaders who visited India is improbable that the regional states
Independence for Catalonia recently — foreign minister Salahud-
din Rabbani, chief executive officer
an open-ended military presence in
the hugely strategic region for the pur-
givings about the US’ intentions
toward it by keeping an open-ended
(Pakistan, Russia, Iran and China) seek
to confront the US on the ground; but
The boot is on the other foot for Europe Abdullah and President Ashraf — suit of its containment strategy against military presence in neighbouring then, they can create a ‘bleeding
themselves belong to rival factions China, Russia and Iran. A low-intensi- Afghanistan while also encouraging wound’ for the US. The duration of a
A
LL nations that were at the receiving end of Europe’s preachy with divergent agenda. The old ty war will suit American interests per- India to be proactive. Pakistan has debilitating proxy war will ultimately
sermons on human rights and self-determination must be Kissinger question comes to mind: fectly by giving the US the alibi to strategic options in the current region- depend on the US throwing in the tow-
silently gleeful over its predicament ever since the Syrian ‘Who do I call if I want to call Europe?’ keep a permanent military presence, al and international situation to work el. The US cannot win a proxy war with-
refugee crises began. Europe pulled up short on the very standards it Washington is acutely aware that the which is the core objective of its with like-minded regional states who, out having a single ally globally who is
had set for the rest of the world in dealing with economic refugees. legitimacy of the Kabul regime must be Afghan strategy. But then, the Taliban for reasons of their own, also want to get prepared to slug it out. But then, it is
And the world watches again as Europe tackles another tricky politi- regained somehow. Tillerson made it must oblige. The only way this contra- rid of the US presence in Afghanistan. within US capability to keep in a state
clear to Ghani that elections should be diction can be resolved will be by per- A fundamental contradiction is that of ‘suspended animation’ the hugely
cal issue — the independence of Catalonia, Spain’s economic engine.
held not later than next year. An explo- suading Pakistan to leverage its influ- the US, which faces the prospect of strategic region of Central Asia
From Kosovo to Kashmir, and from Sri Lanka’s Northern Province
sive contestation for power is brewing. ence with the Taliban to show steady retrenchment in Southeast through which three trajectories of
to South Sudan, Europe has promoted the right to plebiscite. Yet, unlike the Obama administration, flexibility. Thus, as never before, Pak- Asia, is keenly wooing India, ostensi- China’s One Belt, One Road are
Europe’s stand was in tandem with its foreign policy aims because it which was politically savvy in knocking istan’s role becomes of crucial impor- bly to create a regional alliance system expected to run, and which borders
had a bone to pick with each of those nations. Afghan heads together, Trump and tance to the efficacy of the US strategy. to contain China. This dalliance grates Russia, China and Iran.
Europe didn’t face the problem of unsolicited mass migration as Tillerson have shown neither the inter- The Trump administration has threat- against the strategic axis between Chi-
long as its economy was humming. It could pick and choose migrant est nor the capacity and credibility to ened Pakistan with dire consequences na and Pakistan. Among the regional The writer is a former ambassador
workers from the developing world (Turks in Germany, Asians in the
UK, North Africans to France). Its lack of diversity encouraged its politi-
cians to talk down to countries grappling with diversity after WW II. Is
it any wonder that all those countries that sought plebiscite in Kashmir
are now backing Madrid against the separatists of Catalonia who have
the wind of a favourable plebiscite behind them?
However, Europe is deeply steeped in the rule of law and the two
World Wars weakened the spirit of vengeance in many of its citizens.
The kiss of life
Rajiv Bakshi Town market in Jalandhar and a few me for the first 10 days. It made me feel what I would hope or ask for. It was
Therefore, hopefully Catalonia will not witness the brutalities inflicted
other places in the city. sad and frustrated. I had to apply my a welcome change and a beautiful
by the state on dissenters elsewhere. Catalonia is up against the entire
Western power structure. India would also want Catalonia to peacefully
negotiate its differences with Spain predicated on the very postulates
that thwarted Quebec from seceding from Canada: upholding the con-
stitution as the supreme law of the country and the federal government
S HE landed on Indian soil on
September 25, a few days before
her birthday. It was a gruelling
18-hour nonstop flight from New
York to Delhi. After that, another
Her wish was my command. It was
a joy to do her biding. She got all her
demands fulfilled, as and when she
made them. Being a retired banker, I
spent ample time, and money, on her
banker’s skills to impress her!
Then one fine morning, all of a sud-
den — two or three days before her
birthday — I summoned courage and
asked her to kiss me! I turned to look
gift for me at this age. I was able to
fulfil my ‘target’. The word ‘target’
haunts a banker from the day he
joins a bank, up until he retires from
the institution. A professional haz-
acting only with powers allocated to it. Madrid has started taking heavy- long journey was ahead — seven to dresses and other fancy things she at my wife’s reaction. ard one would say.
handed measures, though mailed fist is not yet in evidence. The world eight hours by road to Jalandhar. She wanted. I just could not say no. The American girl kissed me not Then, the day came when Sunanda
will watch keenly how Spain settles its internal differences. is an American citizen by birth as she Sometimes, my wife objected to it, once, but twice that day; on both my was to return to New York. I was feel-
was born in the USA. asking me why I was spending so cheeks. Finally... I was ecstatic. ing lonely and sad; kind of empty
I never had the chance to meet the much on small items which were not After that day, it became a regular within. My wife remarked that the girl
young girl before. It was the first required by her at all. feature over the next 10 days. When- had kissed me more than even her!
Thought for the Day time I had set my eyes on her. The But I had only one agenda — I want- ever she wanted any of her demands Sunanda is my granddaughter who
day she landed in India, I was ed to impress Sunanda: the American to be met, I would simply put my recently turned a year old. She is a
When human beings live together, conflict is inevitable. War is instantly fascinated by her charming girl with an Indian accent. She was cheek forward. Unhesitatingly, she perfect retirement gift for me and my
not. — Daisaku Ikeda personality! I took her to the Model guarded at first, not being friendly with would oblige me — even more than wife. God bless her.
Letters to the Editor, typed in double space, should not exceed the 200-word limit. These should be cogently written and can be sent by e-mail to: Letters@tribuneindia.com
14 hindustantimes HINDUSTAN T IMES, NEW DELH I
MONDAY, O CTOBER 30, 2017
e sta b l i s h e d i n 1 9 24
comment
§
straightforward
more risks today The ties that bind Indira and Patel
Disaster management systems This October 31, let’s remember the legacy of and matters of national security. Just these
two achievements are enough to make her
can safeguard our heritage the Iron Lady and the architect of modern India immortal,althoughshehasanumberofother
feats to her credit. If Patel had unified the
country then Nehru had ended the exploita-
T
tive Zamindari system. By abolishing privy
he first-of-its-kind analysis by the National Dis-
L
inkages of history and dates can careerstoparticipateinthefreedomstruggle, purses, Indira Gandhi bid goodbye to the era
aster Management Authority (NDMA) of the create complexities at times. Con- theyhadnoideawhethertheywouldsucceed of princely states and kingdoms.
sider the date tomorrow, October in their lifetime. Mahatma Gandhi was their Who says Indira was undemocratic?
threats India’s museums face lists terrorism; 31, as an example. The day com- supreme leader by consensus and despite Shecarriedoutanumberofprojectsbenefi-
climate-related events such as floods, earth- memorates the birthanniversary somedifferencesofopinion,theCongresshad cialfortherights ofthecommonman.There-
of Sardar Vallabhbhai Patel, the been successful in finding common ground. fore, despite the Emergency and Operation
quakes and tsunamis; and vandalism. This is a architectofmodernIndia,aswellasthedeath ButthecircumstanceschangedbyAugust. Blue Star, she proved to be a popular leader.
timely reminder that anniversary of Indira Gandhi, India’s Iron An emerging democracy needed a prime Those who’ve seen people from across the
theft and vandalism are not the sole ourtake Lady. Those politicians or politically moti-
vated people who make half-baked pro-
nouncementsaboutthenation’shistoricalfig-
minister and a council of ministers. From
thosewhowerefightingtheBritishtillyester-
day shoulder to shoulder, one person had to
countryshedtearsafterherbrutalassassina-
tion on October 31, 1984, will agree with me.
If I were to call Patel the creator of Modern
security concerns for a museum. Of
ures,doittokindlecontroversyandkeeptheir take the lead and the others had to support India and Indira Gandhi the creator of
special interest are the climate-related events. Across the selfish interests relevant. This is doing great himascolleagues.HaditbeenPatelorRajago- present-dayIndia,certainpeoplemayobject.
injustice to the established norms of history. palachari, or anybody else in the place of But it is a fact that no other prime minister
world, museums routinely evaluate non-security threats. And Let us begin with Patel. Nehru, only the characters would have except Indira Gandhi managed to either
governments are increasingly thinking of cultural heritage All kinds of theories are being propagated changed and the plot of the story still n Indira Gandhi pays floral tributes to Sardar expandIndia’sterritoryorengineeradivision
aboutSardarVallabhbhaiPatelthesedays.If remainedthesame.Unlikethecultureofsyco- Vallabhbhai Patel, October 31, 1977 HT FILE in ourarch-rivalPakistan.And asfar as con-
and the risks and threats to the same when they draw up their somepeoplearebusydeclaringthathisgreat- phancy which prevails today, those were the troversiesareconcerned,Iwon’ttakeoffence.
disaster management strategies for museums. nesssurpassesthatofJawaharlalNehru,oth- days of political camaraderie. tionswhicharesafeguardingourdemocracy The world’s largest democracy has a right to
ers object to any such claim. Those who term That’swhy,ifwefindsomecorrespondence even today. havehealthydebates.Itonlybecomespainful
India has experienced this in the past. Most recently, in afewdisagreementsbetweenNehruandPatel between Nehru and Patel about a few disa- Indira Gandhi was a product of dynastic whenpeoplebegintomakepersonalremarks.
2014, floods destroyed the 115-year-old Pratap Singh Museum as ‘controversies’, should pay attention to greements, we also find mutual respect and rule. As time went by, she strengthened the Notonlydoesthedirtofhollowlogicdiminish
thesefacts.Tillthebeginningof1947,theroles attempts at arriving at an agreement. In the tradition of ‘I am the only one and there’s no thedignityofourancestors,italsopollutesthe
in Srinagar. ofNehru,Patelandmanyotherleadersinthe days that followed, India agreed to follow the alternative’ in Indian politics. In 1975, Indira minds of future generations.
independencestruggleweren’tverydifferent politics of dynastic rule and the personality foistedtheEmergencyonthecountry,butthis Toguardagainst this,we neednot analyse
The NDMA report lists the National Museum in New Delhi,
from each other. They had a common enemy cult. Isn’t it admirable that despite the disa- doesn’t take away from her contributions to Patel or Indira but look within to introspect.
the National Gallery of Modern Art in New Delhi, Bengaluru, andasimilarstyleoffightingit.Theywerethe greementsbetweenthesetwogiants,ourfirst thestrengtheningofIndia.ThroughSikkim’s What can be a better day to do this than Octo-
leadinglightsofamovement whichhadbeen ever government managed not just to unite merger and the carving up of Pakistan she ber 31?
and Mumbai, the Victoria Memorial Museum and the Indian created with the blood and sweat of the com- the country, but also create some great insti- proved that she was second to none when it Shashi Shekhar is editorinchief, Hindustan
Museum in Kolkata, and the Allahabad Museum as being mon people. When they gave up lucrative tutions? These are the institutions and tradi- cametoexpandingourinternationalterritory n letters@hindustantimes.com
A
t China’s OBOR inauguration in nowalso abouta Modi-ledIndiaofferingan
framework. Now that the NDMA’s report on museums is out, May2017,Indiawasaconspicuous alternative narrative of democracy-rooted
absentee. Breaking from the past, economic and national strength to China’s
the Union government must do so without delay. insteadofplatitudinousappealsto efficient totalitarianism.
n Deprived of their socially recognised plots of land, women are not entitled to extension global “principles”, India’s rationale was India has also evolved. The economy is
services, credit, or membership in farmer cooperatives PRAFUL GANGURDE/HINDUSTAN TIMES spelt out in terms of its national interest. one of the better performing ones globally.
§
Tillthe early 1990s,Indiadisplayed inex- Militarily, India is the strongest it has ever
now par for the course fighting against all odds reflected in actions — the 1956 Hungary
invasion is an example. Distortions result-
ing from “faux” socialism in both foreign
policy and economy were similar. In the
Thus, we have a window to replace a
reactive foreign policy based on possibly
misdirected philosophies, with one which
puts Indian interests at its centre.
The State should reorient its policies — whether related economy, it resulted in the licence raj, con- Thepolicymustco-optviewsofkeystake-
ForthesaffronalliesinMaharashtra, to asset transfers or wages — to serve their interests
centration of economic power with a few
families, and an inefficient public sector. It
holders–theMEA,thehome-securityestab-
lishment, defence and finance. Effective
deprivedmostofourpopulationofopportu- cooperationbetweentheMEAandtheNSA
adjustmentisapoliticalrealitytill2019 Koraput in Odisha or Dumka in Jhark- nitiesandcreatedadependenceontheState establishmentmeritsemulation.Moreover,
NITYA hand,while women don’t have legal titles to that we find tough to move away from. any foreign policy must be backed by eco-
A
head of completing three years in power in Maharash- RAO land, plots of land, particularly the dongar or Inour“socialist”foreignpolicy,wecom- nomic and military strength.
bari (uplands), are socially recognised as mittedto“non-alignment”,butourdepend- We should rediscover strategic partner-
tra on October 31, Chief Minister Devendra Fadnavis, women’s plots. Women control the choice of enceonlygrew—ontheUSSRforarmsand ships – building on PM Modi’s personal
generally circumspect on relations with his trouble- crops and the output. Yet corporate interven- the US for economic aid. By the early 1970s, impact. The expanded Malabar exercises,
tions, especially the spread of eucalyptus theNAMhadbecomeamotleycollectionof the BRICS initiatives and BIMSTEC are
some ally, the Shiv Sena, offered some advice to the latter’s plantations for the paper industry, across states that were soft satellites of one of the steps in the right direction. In addition to
chief, Uddhav Thackeray. He cautioned the Sena that playing central and eastern India, as well as new leg- “blocs”,withanembarrassinggalaxyofdic- helping regional maritime and trade secu-
E
very year, the government cele- islation such as the Compensatory Afforesta- tatorsas leadinglights.TheNAMprovided rity,Indiamustgive“face”toitsimmediate
the dual role of the Opposition while being in the government brates Mahila Kisan Divas. What tion Fund Act 2016 , which displaces women a platform for India’s “vision” of global neighbours and make them partners – a
does it mean for a majority of rural farmers from their upland plots, are threat- order but few other benefits. It was telling contrast to China’s dollar denominated,
was a breach of people’s trust and not in keeping with its man- women engaged in farming? Statisti- ening not just their livelihoods but equally that during the 1971 war, a UN resolution neo-colonial terms of trade approach.
date. Fadnavis, seen as BJP’s ‘good cop’ while handling the cal estimates of women’s work participation their status as farmers. inimical to India got 104 of 129 votes includ- We need to shed the Cold War mindset
in agriculture vary, from 60-80%. Deprived of their socially recognised plots ing most of the NAM countries. and recognise that the US is a superpower,
Sena, had so far shied away from publicly slamming the ally The National Policy for Farmers, 2007, of land, women are not entitled to extension Nehruji,thegreatstatesman,recognised andlikely “strategically”ofchoiceonmost
unless in the election arena. He is well aware that if his gov- defines a farmer as any “person actively services, credit, or membership in farmer theshortcomingsatgreatpersonalcostafter issues. Beyond the economic relationship,
engaged in the economic and/or livelihood cooperatives. Their labour is considered havingtoseekUShelp,andPakistani“sym- it may be most natural to quickly upgrade
ernment has to complete its five-year tenure, then adjustment activity of growing crops and producing ‘free’, and not valued in calculating the ‘costs pathy” in 1962. Addressing the nation, he our naval cooperation with the US.
with the Sena is a political reality. other primary agricultural commodities”. of production’. Crops whose production is said:“Wewere...outoftouchwith reality… The legacy of 1962 and modern rivalry
So, most rural women would qualify as controlled by women, such as millets, pulses and … living in an artificial atmosphere of haveplacedIndiaandChinainanunneces-
So, the warning to the Sena is an indication that even the ‘farmers’, though often classified as ‘unpaid and vegetables, are not considered for mini- ourcreation”.Unfortunately,governments sarily adversarial position. Our policy
chief minister is running out of patience with constant sniping family helpers’. Our research in Odisha and mum support price or for public procure- sincethendidn’theedthisandforeignpolicy shouldfocusonconvincingChinatorestrict
Maharashtra reveals that women perform ment. While incentives galore are provided remainedlongonslogansandshortoneffec- competitiontotheeconomicsphere,rather
by the ally. It’s advice that Mr Thackeray should consider almost the same amount of work as men in to private industry for their growth and tiveness. than military or territorial.
the peak seasons of planting and harvesting, development, it is forgotten that women India’s big market size, along with our
carefully. His party’s performance in local government body apart from managing domestic work. This is farmers constitute the largest ‘private sec- strengthinskilledmanpowerandmanufac-
elections — from municipal corporations to village-level pan- a significant point, as the government’s Time tor’ in the country. They receive no support IN THE CONTEMPORARY WORLD, turing can help us become an “embedded”
chayats held this year — proves Mr Fadnavis right. There
Use Survey, 1999, showed that while women or incentives whatsoever, yet battle on A STRATEGIC APPROACH TO part of the production and supply chains of
perform more than 50% of total activities, against all odds. We need to move from rhe- major economies such as Germany, Japan
seems to be little acceptance, at least electorally, so far, for the they spend roughly half the time as their men toric to practice in truly recognising women DIPLOMACY FOCUSED ON and the ASEAN.
dual stance adopted by the Sena. The Sena’s rank and file is
on ‘productive’ work. There is also likely to as farmers and reorienting policies, whether INDIA’S NEEDS WILL GO A LONG A strategic approach to diplomacy
have been a shift over the past two decades, on asset transfers, or wage and pricing poli- focused on India’s needs will go a long way
with women’s contributions increasing since cies, to serve their interests.
WAY TOWARDS CREATING towardscreatingasustainableandsuccess-
also irked with the duplicity and would prefer it if Mr Thack-
their men have no option but to migrate sea- Nitya Rao is professor, gender and development, at A SUSTAINABLE AND ful foreign policy.
eray pulls the rug from under the feet of the Fadnavis-led gov- sonally to ensure their family’s survival.
In tribal-dominated districts, whether
the University of East Anglia, UK.
The views expressed are personal
SUCCESSFUL FOREIGN POLICY S Misra is a Delhibased fund manager
The views expressed are personal
ernment. Still, nothing is likely to change. What we are likely
to witness is more strife between the saffron allies even as
they share power through 2018, perhaps until the Lok Sabha Deepak Rikhye that asking people to pray for someone in because prayer regulates heartbeat and
polls in 2019, and may be even later. Even as he gave the advice particular reduces aggression. reducesstress,whichhasatangibleeffecton
Prayerisaninspiringcompanionandtopray Prayer alsomakesit easiertoforgiveand blood pressure.
to Thackeray, the CM said that his party had no issues align-
ing with the Sena yet again in the 2019 elections.
innervoice bestows one with peace of mind. It is, even if
youpraybriefly,aformofmeditationwhich
thishappenswhenyourememberapartner
orfriend.Itfostersunityandharmony.Inthe
Althoughprayingis seenas a mentaland
spiritual activity, the benefits to physical
can instil positive vibes and a sense of volatileworldoftoday,withchangesinbusi- health are also immense. Above all, when
Both sides will take their cues from the results of the elec-
tions being held between now and 2019 starting with Gujarat,
THE BENEFITS OF PRAYER achievement.Indeed,itprovidesafeelingof
beingrefreshedandisastimulatingactivity
ness, political scenarios and demanding
requirements at work, prayer helps deal
enduring an emotional or troubled phase,
prayer enables one to believe that there is
to further hone their strategies. Meanwhile, people can sonly SHOULD NEVER BE before the day begins. At the end of a day, a
fewminutesofprayerleavesonereassured.
with stress. Research has shown prayer
which is focused on gratitude has a positive
hopetoovercomeachallengingexperience.
(Inner Voice comprises contributions from
hope the bickering won’t affect governance. UNDERESTIMATED Prayer helps boost your will power ena-
bling one to exercise self-control. People
effect on mental well-being. Psychologists
sayprayerreducesegoandpromoteshumil-
our readers.)
The views expressed are personal
becomeamiableandnicer.Psychologistssay ity. Wemustnotignore itsbenefits tohealth n Innervoice@hindustantimes.com
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