FRDI Bill Suggests “Bail-In” no “Bail-Out”

via FRDI Bill Suggests “Bail-In” no “Bail-Out”


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Development and its false notions.

We as the citizens of this country has been aspiring for development, Everybody wants to see our country’s progress because right for a decent living with minimum amenities in place to satisfy our needs is democratic rights of each and every citizen of this country. We vote candidates from different political parties based on plank called “Development”. Have these representatives of the people do justice to their promise to the people, I think this question lingers large on everybody’s mind. The most recent stampede in Mumbai on the railway overbridge proves a point beyond doubt that Govt priorities changes once they are elected to power, they consciously forget their responsibilities towards common people of this country because either they have an agenda to pursue which has been far away from the realities on the ground or a misplaced notion for development . However, they pursue policies to favour the rich and corporates, help them gain maximum profits for the corporates out of it. In today’s environment, it has been increasingly evident that the Govt policy measures are not in sync with the reality, But politicians have consciously tried to pass the message to the larger audience that they are trying to build a new India. what is this new India means to common people, Is new India, govt talking about leave farmers to die because of not able to pay their debts, or children die out for not receiving the oxygen on time , or scores of people are left to die while standing in the queue to withdraw their savings from the bank,But frankly speaking all these campaigns by those in power is nothing but an effort to keep us living in fool’s paradise with hope that sometime someday something better would happen . Now, let’s take the incident happened in Mumbai around 25 valuable lives had been lost in the stampede, it is well known and many times it has been brought to their notice that the railway overbridge is 120 years old with the narrow passage which inadequate to handle the volume of passengers who commutes daily. But on the other hand, we have seen PM launching a bullet train project from Surat to Mumbai with a project cost 10,000 crores. But left to lurch in perennial neglect Do you think it is because of the misplaced priorities and opportunity for photo shots to be in the realm of public life as” Vikash purush “. I think beyond that govt’s has scant regard for the valuable lives of the common people. So it is quite natural to think that launching a bullet train project attracts more eyeballs, improve the optics than the repairing, improving the existing infrastructure of the railways. The major source of income to govt comes from the taxpayers money through direct and indirect taxes, Out of that major source of revenue comes from the indirect tax sources which you and I pay while purchasing our grocery or filling petrol in our vehicles , but the moot question is where do they spend the money collected from us ? Had they been spending the resources wisely frequent occurrence of rail accidents could have been avoided.

Misplaced priorities.

In the last several decades and increasingly so in the last three years, the optics of development for this govt has been through series of announcements of schemes, But very little budget or money has been allocated to improve the situation. Take in the case of rural distress and farmers problem, in the last three years we have not seen any concrete or well thought out plans to address the problem faced by the farmers, Now we have started debating whether the demonetization has delivered its objective , still many argue that the long-term benefits would overweigh the short-term problems. How is it possible when Govt allowed the daily wage workers, farmers to starve and die of poverty. When you have global oil prices at all time low, how can they still allow it to be costlier in India without passing the benefits to the common people? These issues need immediate address rather than ministers after minister trying to justify the move by showing very less importance to issues affecting the common man on the streets.

Optics matter more than the reality.

A responsible government and its administration should be spending the time to address the issues faced by the masses and how they could solve the issues faced by the public at large. In the case of demonisation as the biggest administrative act by the govt has failed miserably, because the reports are out in the open which states more than 90% of the money in circulation came back to the banks. So the purpose of the demo has failed completely. One shock after the other flawed implementation of GST has destroyed the backbone of the economy further, So serious of shocks had already put the ailing patient in ICU, which takes for the patient to come out of the danger. But the optics created by Modi government being that they are sincere in their efforts to attack the black money and GST has been hailed as the biggest reform since independence. If Govt has had any seriousness in curtailing the black money in circulation they should have acted with resilience in bringing the black money stashed abroad, And also should have imposed more taxes on the elites, If they had done any of these it would have signalled some credence to their sincerity in curbing the black money. . Job losses have hit economy badly which really pulled GDP growth down, overall distress in rural economy has taken the situation to such a low, perhaps it takes time to recover.

Inclusive development

You cannot have changed priorities once you get into power Because elected representatives carry the hopes of millions of people who daily fight to survive, lead a life of dignity. So any development for that matter should be inclusive in nature which takes care of the basic needs of the common masses. Take for instances the agriculture’s contribution towards GDP has been declining steadily for couple of decades , Govt, after govt promised to take care of the concerns faced by the farmers, But little has been done to improve the situation, like this many sectors be it education or healthcare which needs a lot of attention and care to improve it. So a real development is nothing but taking everyone together, For the last 3years we have seen hue and cry happening over cow vigilantism and nationalism, Do such priorities of the Govt do any good for the
80% of the population?

Cost of Bullet train

The project cost is expected to be Rs.110,000 crore ie is which works out to be Rs.217crore per km. In 2016 Indian railways reported 186 deaths which go up to 325 deaths, why Modi goes for this expensive project when the entire railway infrastructure meddles with problems of long-term neglect. so it has been the classic case of misplaced priority.

Source:  Frontline October 13, 2017.

The State of statelessness


History could have been much kinder to the Rohingya as a minority community. The hardship and despair the most prosecuted community in the world has been going through are beyond one’s imagination. I found it more surprised that their fellow majority Buddhist community is considered as the most peace loving religion in the world. In fact, throughout Buddha’s teaching, he embodied mercifulness, But the present action by the majority Buddhist community in Myanmar has been nowhere near what Budha taught or perhaps envisaged. The most prosecuted community in the world has been driven out from their state with no amount of humanity left from their fellow beings. They are left to sob in despair due to the losses incurred in their minds on account of most inhuman treatment meted out to them. They are now homeless, bewildered, raped both physically and mentally, now they are on their way to neighbouring locations in another country. How long it takes for them to recover from their unimaginable wounds, scars which have completely ravaged them. They might seek for refugee status in another country and it takes years striving for them get back to normal life forgetting all the pain they had been undergoing from their fellow beings. Their voices are being crushed with no one wishing to hear or no one forthcoming to heal their wounds. The state of their mind with statelessness is such harsh reality, very hard to imagine the predicament.

The atrocities committed on them just because they are being minority Muslim with flesh& blood, who has been living in the Rakhine state for many decades, have been trying to build their lives with hopes and aspirations like any other human being in this world , But now they are being rendered with no identity, experiencing the kind of treatment which is trivial and most unacceptable one, when human being as a species has been endowed with some many achievements since their evolution, But these actions are nothing but most heinous which takes us far behind from where we have evolved. With no element of empathy left in our souls. Destroying lakhs of people hopes under the pretext of being a minority community among the majority who follows different faith leaves us so small even less than the status of wild animals living in the forest. I don’t understand how a most evolved living being on this planet can act so cruel to their fellow beings.
Driving them out from their homes, physically exploiting them with retribution is nothing but an act of belittling our status as the most evolved species. The most interesting aspect has been the ruler himself who was the Nobel prize winner of peace completely seen dismissing the violence as fake news and false propaganda. Aung San Suu Kyi who has been considered as the most respected women leader under house arrest for many years in a military-dominated govt structure. However in all respects considering her stature, she should have stood strongly against the atrocities committed to “Rohingya”, But she seems to follow a deafening silence when the people of her country are driven from their homeland. Yes, terrorism has been plaguing the world for a quite some time, But viewing everyone through the same prism as a terrorist because they belong to a particular religion will be more counterproductive in the coming years. If world nations are aspiring for a peaceful environment, I think these actions would take us nowhere, perhaps amounts to create more breeding ground for the terrorist and terrorism to flourish. The most dangerous ideology floated by these groups gets shot in their arm to further gain strength. As responsible nations it is duty-bound to create an environment of trust, kindness, accepting everyone as equal.

The state of the statelessness is nothing but an act of denying them the permission to lead a decent and dignified life which every human being on this planet has the right to aspire for irrespective of their status as a minority, or the faith they follow. But when the state itself promotes hatred towards their citizens, promoting enmity within the same people. I think we as mankind we are only regressing not progressing.