Commercialization of an entity has a limit and who decides this limit? The man who is calling the shots...the man who is in control and the man who knows he doesn't have to fear of competition because constitution of India gives him complete protection...
Post IPL match parties have become headache for players. The unwritten rule says that cricket stars must attend these parties and these parties go longer than an IPL match. If you are a common man and want to attend these parties, you have to shell out INR 50,000 per party. So, if you are willing to attend these parties, you have to be a crazy and uncommon common man (Is Income Tax Department listening?).
Mr. Modi...forget the 20-20 matches...Lets have only parties with cricket stars...May be you are thinking of organizing one more IPL season only of parties.
I never thought somebody will make cricket players behave like prostitute...Mr. Modi has not made exactly prostitute but talking/walking/hand shaking male prostitute who have to generate revenue for their franchises by hook or crook.
Mr. Modi....First you have almost killed Test Cricket. You have shortened the length of game where excellence has gone out of cricket dictionary. Now fielding remains only skill in a 20-20 match. You may as well deploy bowling machines after 4-5 years which will deliver balls based on public demand.
I do know if anybody else hurt the game of cricket so much as Mr. Modi has been doing....
Sunday, April 11, 2010
News of News Channels
No Hindi news channel in India makes money. Are you surprised???
There is no reason to be. Go deeper and the naked reality of this industry comes out. Many of these news channels have not made money in their life span. India is the only country where news runs as standalone, independent business.
When government decided to go ahead with 24 hours private news channels, the basic idea was to promote science, general knowledge, contemporary history and making youth aware of various aspects of India which were not getting adequate attention on DD. However, our Hindi news channels picked up naughtiest page from print media and started showing stuff which is frivolous, generates negative discussions and is taking society backwards.
None of hindi news channels concentrate on any of the stuff that government thought they would. In stead these channels are promoting all kind of stupid stuff like astrology, junter-mantar, bhoot-pishach etc etc. These channels have gone into a vicious cycle where they run by TRP rating published on Friday morning.
These TRP ratings define their content for next week. There is desperate attempt to make money however till the time these channels add positive value to society and guides younger generation in right direction, they will remain in bad shape and may be they will also distort our society to a certain extent.
There is no reason to be. Go deeper and the naked reality of this industry comes out. Many of these news channels have not made money in their life span. India is the only country where news runs as standalone, independent business.
When government decided to go ahead with 24 hours private news channels, the basic idea was to promote science, general knowledge, contemporary history and making youth aware of various aspects of India which were not getting adequate attention on DD. However, our Hindi news channels picked up naughtiest page from print media and started showing stuff which is frivolous, generates negative discussions and is taking society backwards.
None of hindi news channels concentrate on any of the stuff that government thought they would. In stead these channels are promoting all kind of stupid stuff like astrology, junter-mantar, bhoot-pishach etc etc. These channels have gone into a vicious cycle where they run by TRP rating published on Friday morning.
These TRP ratings define their content for next week. There is desperate attempt to make money however till the time these channels add positive value to society and guides younger generation in right direction, they will remain in bad shape and may be they will also distort our society to a certain extent.
Sunday, April 04, 2010
Counting Indians
India has started counting each of its 1.2 billion citizens and as prime minister said,"The information gathered during census will be a treasure to implement development programs." The prime minister is 100% correct.
The exciting factor is this data will be passed on to Mr. Nandan Nilekani who will use it for UIDAI project implementation.
The critical success factor will be government employees gathering this data have robust processes in place for 99% accuracy otherwise it will be mess beyond correction. Extra care needs to be taken in U.P. and Bihar where government employees may complete their work without visiting respective households.
Economists will wait for this data and it may actually clarify all doubts about poverty level in India where various experts have various opinions and as it always happens, every expert appointed by any government is absolutely right.
This job should be handled by Planning Commission of India and this exercise should happen every 5 years due to pace of growth in India. Also, India does not need planning commission of India any more, it needs implementation commission of India with power and teeth to stop leakages in the system.
A bunch of handful intellectuals sitting in Delhi have achieved very little so far in last 60 years. Lets have one representative in every state monitoring independently implementation of government projects and sending reports to Delhi monthly basis. There has to be segregation of duties and we can no longer trust government employees implementing these schemes at grass level.
The exciting factor is this data will be passed on to Mr. Nandan Nilekani who will use it for UIDAI project implementation.
The critical success factor will be government employees gathering this data have robust processes in place for 99% accuracy otherwise it will be mess beyond correction. Extra care needs to be taken in U.P. and Bihar where government employees may complete their work without visiting respective households.
Economists will wait for this data and it may actually clarify all doubts about poverty level in India where various experts have various opinions and as it always happens, every expert appointed by any government is absolutely right.
This job should be handled by Planning Commission of India and this exercise should happen every 5 years due to pace of growth in India. Also, India does not need planning commission of India any more, it needs implementation commission of India with power and teeth to stop leakages in the system.
A bunch of handful intellectuals sitting in Delhi have achieved very little so far in last 60 years. Lets have one representative in every state monitoring independently implementation of government projects and sending reports to Delhi monthly basis. There has to be segregation of duties and we can no longer trust government employees implementing these schemes at grass level.
Ignorable Paisa League (IPL)
I tried to watch IPL matches this season but I lost interest in the match every time. The matches are predictable and once you have little bit knowledge about a team's form, the matches become even boring.
The IPL matches bring me back memories of old Hindi movies where a wicked and rich landlord will exploit poor villagers because he is rich, powerful and laws of the land favor him. The similarity is stark in case of IPL. The rules, pitch and environment are brazenly in favor of batsmen who keep beating poor bowlers for no reason. Now, as a cricket lover, you can't wait for a hero to emerge and beat back landlord but the administrators have to jump and give something for bowlers in the pitch.
A cricket match is a contest between bowlers and batsmen of both sides. However, IPL has made cricket matches a contest between batsmen of both sides. When IPL first season began, I expected that bowlers will come up with new tricks but the rules are vehemently in the favor of the batsmen. A bowler has no chance to beat back batsmen. I am still waiting for a IPL match where team batting first scores 119 in 20 overs and other team looses by 1 run.
The only skill which counts in IPL is fielding and rest is muscle power in the arm of batsmen.
One critical factor for IPL success and viewership is: No other alternate entertainment for Indian men without cost and in the convenience of home. IPL is tailor made for couch potatoes. Your 4 hours pass on a weekend or weekday just like that without any effort.
I am expecting if somebody starts football league on the lines of IPL, it may be successful with a longer gestation period. It is anybody's guess that Indian public will get bored of IPL and as law of economics say - if you are making exorbitant profits in any sector, you will definitely find a competitor sooner.
The IPL matches bring me back memories of old Hindi movies where a wicked and rich landlord will exploit poor villagers because he is rich, powerful and laws of the land favor him. The similarity is stark in case of IPL. The rules, pitch and environment are brazenly in favor of batsmen who keep beating poor bowlers for no reason. Now, as a cricket lover, you can't wait for a hero to emerge and beat back landlord but the administrators have to jump and give something for bowlers in the pitch.
A cricket match is a contest between bowlers and batsmen of both sides. However, IPL has made cricket matches a contest between batsmen of both sides. When IPL first season began, I expected that bowlers will come up with new tricks but the rules are vehemently in the favor of the batsmen. A bowler has no chance to beat back batsmen. I am still waiting for a IPL match where team batting first scores 119 in 20 overs and other team looses by 1 run.
The only skill which counts in IPL is fielding and rest is muscle power in the arm of batsmen.
One critical factor for IPL success and viewership is: No other alternate entertainment for Indian men without cost and in the convenience of home. IPL is tailor made for couch potatoes. Your 4 hours pass on a weekend or weekday just like that without any effort.
I am expecting if somebody starts football league on the lines of IPL, it may be successful with a longer gestation period. It is anybody's guess that Indian public will get bored of IPL and as law of economics say - if you are making exorbitant profits in any sector, you will definitely find a competitor sooner.
Friday, April 02, 2010
Platinum Jubilee Ceremony of RBI
I was going through speeches of Prime Minister, Finance Minister and RBI governor at the occasion of final platinum jubilee ceremony at Reserve Bank of India. I liked few quotes and am sharing them below:
From the speech of RBI Governor:
http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=493
From the speech of RBI Governor:
http://www.rbi.org.in/scripts/BS_SpeechesView.aspx?Id=493
1) As an institution, central banks go back several centuries. The first central bank, the Riksbank in Sweden, was established in 1668, nearly 350 years ago, at a time when much of India was still under the Great Mughals. The Bank of England came shortly thereafter in 1694. By the turn of the century in 1900, there were only 18 central banks. Today, there are around 180 central banks, a tenfold increase in the last one hundred years.
2) A final thought before I close. A powerful lesson from the financial crisis has been that financial sector development is not, and cannot be, an end in itself. The growth of the financial sector is important only to the extent it improves the growth of the real sector. For all of us in the Reserve Bank - indeed even for those outside it - engaged in financial sector issues, it is important to remember that what we do in the financial sector adds value if, and only if, it makes a difference to the lives of ordinary people. This is the lasting message that the Reserve Bank will carry forward beyond the platinum jubilee celebrations.
I wish USA bankers and central bankers also understand, digest and practice what RBI governor said.
2) A final thought before I close. A powerful lesson from the financial crisis has been that financial sector development is not, and cannot be, an end in itself. The growth of the financial sector is important only to the extent it improves the growth of the real sector. For all of us in the Reserve Bank - indeed even for those outside it - engaged in financial sector issues, it is important to remember that what we do in the financial sector adds value if, and only if, it makes a difference to the lives of ordinary people. This is the lasting message that the Reserve Bank will carry forward beyond the platinum jubilee celebrations.
I wish USA bankers and central bankers also understand, digest and practice what RBI governor said.
3) Prime Minister Sir, as Finance Minister, in your budget speech of 1994-95, you had famously invoked Victor Hugo to say that: ‘No power on earth can stop an idea whose time has come.’ If our first Prime Minister, Pandit Nehru, gave us ‘the idea of India’, you had reinvented the idea to unleash India’s ‘animal spirits’, Keynes’ memorable phrase for ‘get up and go’ entrepreneurism. As a nation, it is our collective dream, hope and joy to take forward that idea of India. On the occasion of its platinum jubilee, the Reserve Bank of India rededicates itself to the continuing task of turning that idea into reality.
A day in the life of India - 1st April, 2010
Right to Education law will shape future of India and we will see its affect in next 25 years. Well! you will get criticizers for everything in India. These criticizers have little idea what they are saying and they are self proclaimed God.
I will tell you why? Mr. Subir Gokaran (before joining RBI) used to write article in Business Standard every Monday where he used to criticize central bank now and then. I was reading his interview after joining RBI as deputy governor and he clearly said,"I am amazed by the way data is analyzed before reaching any decision."
I am surprised by the fact that nobody asked for this fundamental right. It has been done on the behest of a forward looking lawyer-turned-education minister and economist-turned-prime minister. When India sits next time to write history, these two men will occupy larger space than others.
Second One is change in interest calculation rules on saving accounts. I was surprised to know that my banker friends had no idea how interest is calculated on their saving account. I think this is the only reason why this method-of-interest-calculation survived since 1952.
Anyways, now banks will press RBI to reduce interest rate on saving account and I think this will pave the way for lower interest rate in India.
I will tell you why? Mr. Subir Gokaran (before joining RBI) used to write article in Business Standard every Monday where he used to criticize central bank now and then. I was reading his interview after joining RBI as deputy governor and he clearly said,"I am amazed by the way data is analyzed before reaching any decision."
I am surprised by the fact that nobody asked for this fundamental right. It has been done on the behest of a forward looking lawyer-turned-education minister and economist-turned-prime minister. When India sits next time to write history, these two men will occupy larger space than others.
Second One is change in interest calculation rules on saving accounts. I was surprised to know that my banker friends had no idea how interest is calculated on their saving account. I think this is the only reason why this method-of-interest-calculation survived since 1952.
Anyways, now banks will press RBI to reduce interest rate on saving account and I think this will pave the way for lower interest rate in India.
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