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.
Saturday, February 27, 2010
Two Budgets
Financial budget is okay and Finance Minister has done a reasonable job. Finance minister can allocate money for various sectors and a lot of mathematics and past trend must have been taken into the account, so I do not find any reason to criticize it.
What we need is: How to ensure that money reaches to allocated destination? We need administrative reforms for this. Everybody has its own eyes on UID project. The failure of this project will be victory of people who are averse to administrative reforms.
Well - I was expecting finance minister to offer tax savings for any individual/corporate if they invest in skill development programs. Skill development is need of the hour. India needs skilled people rather than educated people. I am talking about enjoyability of an individual. We should have someway to measure it.
I do not find any relevance of Railway Budget. It is a launching platform to become chief minister of the state you have dreamed for long.
We need to improve speed of our trains at least by 40% in next 2 years. Otherwise Road transport will overwhelm railways and trains will rum empty.
What we need is: How to ensure that money reaches to allocated destination? We need administrative reforms for this. Everybody has its own eyes on UID project. The failure of this project will be victory of people who are averse to administrative reforms.
Well - I was expecting finance minister to offer tax savings for any individual/corporate if they invest in skill development programs. Skill development is need of the hour. India needs skilled people rather than educated people. I am talking about enjoyability of an individual. We should have someway to measure it.
I do not find any relevance of Railway Budget. It is a launching platform to become chief minister of the state you have dreamed for long.
We need to improve speed of our trains at least by 40% in next 2 years. Otherwise Road transport will overwhelm railways and trains will rum empty.
Saturday, February 20, 2010
You Managing Projects or Projects Managing You!!
Well! Nothing to insult anybody's work as a Project Manager. I see project management as an art where you have to constantly learn by "what works" rather than "what are the normal practices". The most important factor is operating environment which changes very rapidly and often we fail to notice the changes and how it is impacting my project with the same pace.
Project Management is a simple thing in an ideal world but we do not live in an ideal world. As mode of communications are increasing, I feel more is communication gap and more confusion leading to chaos. Additionally, I feel we Indians have by nature poor skills as Project Manager barring one, Mr. E. Sreedharan.
I searched in old Hindi/Sanskrit literature about project management. I didn't find anything. Then I looked at various processes in Hindu Marriage and how these are carried day-by-day. If you look at a Hindu marriage by project management angle, you will get insights into what project management basics our old sages would have taught.
1) The first thing is - no parallel processing. Every process is pre-planned and pre-defined by a Pandit and it can't be changed unless something goes wrong in either family.
2) Role Definition: Roles are very clear. There is no ambiguity on which task will be carried by whom.
3) Time Management: Pandit has defined time for every event in advance. People do back calculation and make prior arrangement.
So, what I conclude is: Project Management is all about doing basic things correctly. If you try to do things faster or parallel, you may make your boss happy but it is more or less certain that you will screw lives of less mortals here or there. Project Management is doing things as it should be without being over smart.
Project Management is a simple thing in an ideal world but we do not live in an ideal world. As mode of communications are increasing, I feel more is communication gap and more confusion leading to chaos. Additionally, I feel we Indians have by nature poor skills as Project Manager barring one, Mr. E. Sreedharan.
I searched in old Hindi/Sanskrit literature about project management. I didn't find anything. Then I looked at various processes in Hindu Marriage and how these are carried day-by-day. If you look at a Hindu marriage by project management angle, you will get insights into what project management basics our old sages would have taught.
1) The first thing is - no parallel processing. Every process is pre-planned and pre-defined by a Pandit and it can't be changed unless something goes wrong in either family.
2) Role Definition: Roles are very clear. There is no ambiguity on which task will be carried by whom.
3) Time Management: Pandit has defined time for every event in advance. People do back calculation and make prior arrangement.
So, what I conclude is: Project Management is all about doing basic things correctly. If you try to do things faster or parallel, you may make your boss happy but it is more or less certain that you will screw lives of less mortals here or there. Project Management is doing things as it should be without being over smart.
Saturday, February 06, 2010
Risk Scenario and how to handle it
The October 2008 successfully transferred the risk from private bank's balance sheets to government balance sheets.
The game has began with President Obama declaring a budget with huge deficit. President Obama is walking on a thin rope and I wish him all the best to him.
My simple statement is: Things are too much confused...The risk has gone to government. The bankers are back to huge bonus days. So, who suffered at the end of the day? The public is still suffering with unemployment and high inflation may add up if government is forced to pay higher interest on the bonds. High interest will led to higher unemployment and ...
The government should force banks to pay a levy or extra tax because government has been forced to save these banks. The government must not use public money to save these banks but it should use money from a separate fund collected through new tax.
RBI is indeed smarter the way it has controlled Indian banking system. It has beautifully balanced growth with safety. And It has forced banks and bankers to forget one word which is root of all financial chaos - 'Banker Greed'
Changing contours of Communication
As you move up in the organization and talk to ED or Group Chiefs or business heads, it becomes very important to listen what is not being said.
Yeah...more often than not, when I have thought from this perspective, it helps me to find out what may be going in their minds and how to deliver according to it.
I have found we indians are shy and we do not criticise somebody brazenly who is doing a decent job. We are poor in communication with emotions always involved. So, even bosses at that level will tell you - you did a good job. At the max, they will suggest you minor enhancements but the devil lies in their pauses and in their indications.
What you think is 'end of the road' is just the bend in the road. If you do not read it then, somebody else will and he will go beyond you.
So, please listen carefully to what is not being said. Rest will follow. However, contextual relevance is importance.
Saturday, January 30, 2010
Chicken Biryani
I have been working in software field for last 8 years. However, one thing that my experience taught me was importance of human angle in this whole business.
As a coder, as a project manager or as a business analyst or any role, you have to understand all stake holders carefully and you have to know them as you know your close friends. This is a critical success factor which none of the software engineering books teaches you.
Also, we run behind the technology and processing power and turn-around-time of various business processes on our systems, but we often neglect the human part. Stupid, it is not about technology. It is more about the people involved. It is more about staying one step ahead of these people and this can happen only when you know them as your friends.
The whole software business is very much perception based. The success of any project or any new enhancement depends on all stakeholders involved. I do not think there is any method which can clearly document all the aspects in writing of what user wants. And nobody can guarantee that user's mind will not change after sending that last requirement specification document in the e-mail.
I find requirement gathering similar to like asking somebody how you would like your chicken biryani to taste? Just try to answer it yourself and imagine how software guys make user's life difficult. However, a good chef knows how to make a good chicken biryani after asking may be 2-3 questions or just by knowing back ground of the client.
So, the trick is to be the chef one who knows how the chicken biryani should taste!!! Sooner you know this, higher you go otherwise your manager will keep writing 'work on customer satisfaction' in every appraisal report.
As a coder, as a project manager or as a business analyst or any role, you have to understand all stake holders carefully and you have to know them as you know your close friends. This is a critical success factor which none of the software engineering books teaches you.
Also, we run behind the technology and processing power and turn-around-time of various business processes on our systems, but we often neglect the human part. Stupid, it is not about technology. It is more about the people involved. It is more about staying one step ahead of these people and this can happen only when you know them as your friends.
The whole software business is very much perception based. The success of any project or any new enhancement depends on all stakeholders involved. I do not think there is any method which can clearly document all the aspects in writing of what user wants. And nobody can guarantee that user's mind will not change after sending that last requirement specification document in the e-mail.
I find requirement gathering similar to like asking somebody how you would like your chicken biryani to taste? Just try to answer it yourself and imagine how software guys make user's life difficult. However, a good chef knows how to make a good chicken biryani after asking may be 2-3 questions or just by knowing back ground of the client.
So, the trick is to be the chef one who knows how the chicken biryani should taste!!! Sooner you know this, higher you go otherwise your manager will keep writing 'work on customer satisfaction' in every appraisal report.
Blessing in disguise
Anybody who has followed Pakistan cricket tour in Australia and is truly well wisher of Pakistan cricket may have felt that IPL controversy is blessing in disguise for them.
Pakistan as a country is breaking day-by-day and is growing way. ICC has already barred Pakistan to host any international matches after attack on Sri Lanka players in Lahore (http://en.wikipedia.org/wiki/2009_attack_on_the_Sri_Lanka_national_cricket_team ) . The cricket board has no money (no matches and hence no money). There are only twenty-twenty domestic tournaments all around Pakistan because crowds love it and they pay for it.
This set-up has devoid Pakistan completely of 5-day cricket and is slowly breaking back-bone of real cricket. Pakistan batting display in Australia indicates towards this decline and if you have any doubt, read what Pakistan captain said after every test match defeat.
It would be better for Pakistan cricket to forget IPL and concentrate only on 3-day, 4-day and 5-day cricket. Otherwise Pakistan may go to a stage where ICC allows them to participate only in twenty-twenty cricket -:)
Pakistan as a country is breaking day-by-day and is growing way. ICC has already barred Pakistan to host any international matches after attack on Sri Lanka players in Lahore (http://en.wikipedia.org/wiki/2009_attack_on_the_Sri_Lanka_national_cricket_team ) . The cricket board has no money (no matches and hence no money). There are only twenty-twenty domestic tournaments all around Pakistan because crowds love it and they pay for it.
This set-up has devoid Pakistan completely of 5-day cricket and is slowly breaking back-bone of real cricket. Pakistan batting display in Australia indicates towards this decline and if you have any doubt, read what Pakistan captain said after every test match defeat.
It would be better for Pakistan cricket to forget IPL and concentrate only on 3-day, 4-day and 5-day cricket. Otherwise Pakistan may go to a stage where ICC allows them to participate only in twenty-twenty cricket -:)
Tuesday, January 26, 2010
Brands and Sports
A thought was passing through - why our companies pay exorbitant money to connect with Cricket. Why our companies do not associate with other sports...Like a Mr. Muscle company can be sponsorship of Indian wrestling team.
Forget government bodies or our Indian Olympic federation, corporate India has to wake-up and connect brands to various sports. It will not only help penetration of brands in rural area but also facilitate provide much needed capital for those sports.
Like, a group of Indian banks can take care of Indian Hockey or any game like Football. They can constitute a body of ex-Olympians who will administer the game of Hockey. The banks will sponsor various hockey events and in-turn they will get tax benefit from government. This arrangement has benefit for all stake holders. The sports will be professionally managed, the banks can penetrate their reach further and work on inclusive growth concept.
Any takers?m.
A simple question
Is defining failure a simple exercise? Think. We have a education system where pass and fail definitions are crystal clear in numbers.
However, why as a country we fail to define failure when it comes to government delivery system, or any system, be it a sports body, an infrastructure project or anything? Are we being too much democratic even going to the extent of being indiscipline people? Or is it because our justice delivery system is an utter failure (again can I say it or do as a country we accept it?). In my view - Justice delayed is justice denied.
Why we do not want to fix our justice delivery system? Partly because a clear and quick verdict from judiciary will take away hidden power from government employees which they wield to extract illegal money from citizens to carry their work. or a quick justice delivery system will disable half of sitting MPs and MLAs to even contest in any kind of elections next time...
The recent events and trends do not indicate we are going in right direction. A state chief minister says that all taxi drivers must learn local language and then backs away next day. Why he did so? Our prime minister wants major ies to go global...taxi drivers of Shanghai are learning English and we are going backwards.
Can we as a country instill some discipline in ourselves?
However, why as a country we fail to define failure when it comes to government delivery system, or any system, be it a sports body, an infrastructure project or anything? Are we being too much democratic even going to the extent of being indiscipline people? Or is it because our justice delivery system is an utter failure (again can I say it or do as a country we accept it?). In my view - Justice delayed is justice denied.
Why we do not want to fix our justice delivery system? Partly because a clear and quick verdict from judiciary will take away hidden power from government employees which they wield to extract illegal money from citizens to carry their work. or a quick justice delivery system will disable half of sitting MPs and MLAs to even contest in any kind of elections next time...
The recent events and trends do not indicate we are going in right direction. A state chief minister says that all taxi drivers must learn local language and then backs away next day. Why he did so? Our prime minister wants major ies to go global...taxi drivers of Shanghai are learning English and we are going backwards.
Can we as a country instill some discipline in ourselves?
Economics from Gandhi
Can we as a nation draw economics lessons from Life of Mahatma Gandhi and put it in a book and give to our kids/college students.
Well! I was just wondering how Mahatma Gandhi would have given incentives to our government employees to work efficiently and honestly. If the man could inspire million of Indians to fight for freedom, I assume his economics would have been very subtle and easy.
Having said that, he was best marketing man India has ever produced. He used to travel in general class to mingle with Indians whom he wanted to inspire to fight for India.
We as a country need Gandhi economics lessons to stay connect with India and its core values. And If you browse through some quotes of Gandhi, you understand that his quotes go beyond time limit. The whole world is crying for climate change and etc (without doing anything). If you live the life Gandhian way, probably we would had been better-off.
If anybody knows a book on this topic, please let me know.
Well! I was just wondering how Mahatma Gandhi would have given incentives to our government employees to work efficiently and honestly. If the man could inspire million of Indians to fight for freedom, I assume his economics would have been very subtle and easy.
Having said that, he was best marketing man India has ever produced. He used to travel in general class to mingle with Indians whom he wanted to inspire to fight for India.
We as a country need Gandhi economics lessons to stay connect with India and its core values. And If you browse through some quotes of Gandhi, you understand that his quotes go beyond time limit. The whole world is crying for climate change and etc (without doing anything). If you live the life Gandhian way, probably we would had been better-off.
If anybody knows a book on this topic, please let me know.
A quick Pass
When I saw Virender Shehwag advertising for Hockey World Cup, I thanked god. Hockey world cup is scheduled to be held from February 20th in New Delhi, but you will not see a single bill board in Delhi for Hockey world cup.
If you ask this to our IHF, they will say - Well! We did not put bill boards because we knew people will not be able to see it due to heavy fog!!!
Jokes apart, Hockey fell sick after 1984 and situation deteriorated. The most embarrassing moment was when we failed to qualify for Beijing Olympics in 2008.
The question needs to be asked is when we as a country will take measured steps to put hockey on track. What will be the event which will instigate this country to reform this game or we are happy watching cricket? No qualification for Beijing Olympics passed like just another day.
I guess it is the time and year when we are organizing common wealth games where all sports bodies should be managed by professionals and government should pass appropriate bill in parliament.
A hockey player gets INR 4,50,000 per year when he participates in all games. If he becomes unfit or is dropped from the team, he looses money. Add to this that the player has to spend his money to remain fit. Apart from it, he has to travel in sleeper class of train and stay in a low grade hotel during the hotel.
And we as a country want Olympic medal from these bunch of men who had to go on strike to get the money they deserved. These bunch of men are hungry, live in sub-standard conditions, do not get best training facilities, their coaches change with drop of a hat and above all, a sick Indian Hockey Federation who do not understand 'H' of Hockey.
I feel ashamed as an Indian to say Hockey is our national game. If we can't do anything else, let us choose some other game as a national game.
If you ask this to our IHF, they will say - Well! We did not put bill boards because we knew people will not be able to see it due to heavy fog!!!
Jokes apart, Hockey fell sick after 1984 and situation deteriorated. The most embarrassing moment was when we failed to qualify for Beijing Olympics in 2008.
The question needs to be asked is when we as a country will take measured steps to put hockey on track. What will be the event which will instigate this country to reform this game or we are happy watching cricket? No qualification for Beijing Olympics passed like just another day.
I guess it is the time and year when we are organizing common wealth games where all sports bodies should be managed by professionals and government should pass appropriate bill in parliament.
A hockey player gets INR 4,50,000 per year when he participates in all games. If he becomes unfit or is dropped from the team, he looses money. Add to this that the player has to spend his money to remain fit. Apart from it, he has to travel in sleeper class of train and stay in a low grade hotel during the hotel.
And we as a country want Olympic medal from these bunch of men who had to go on strike to get the money they deserved. These bunch of men are hungry, live in sub-standard conditions, do not get best training facilities, their coaches change with drop of a hat and above all, a sick Indian Hockey Federation who do not understand 'H' of Hockey.
I feel ashamed as an Indian to say Hockey is our national game. If we can't do anything else, let us choose some other game as a national game.
Saturday, January 23, 2010
Deja Vu
It was a deja vu sense...I had posted in my blog on September 30, 2008 that economic crisis will bring business for Indian IT companies (the link is http://anything-under.blogspot.com/2008/09/what-next.html)
The exact text from the blog is below:
"One thing is certain - All financial risk analysis guidelines must be reviewed and re-written to evolve a robust risk model in future with an incentive process to adhere to it (There is potential business for Indian IT companies). "
When TCS declared result for its third quarter (Q3 2009-2010), TCS Belgium country head, Mr. Kiran Gupta said the same thing. You may read full story on below link:
Monday, January 18, 2010
Quick Bits
Next set of Quick Bits:
1) Total number of Banks failed in US till date: 140
2) Greece government may default on its short term bond (If a government defaults on short term bond or any bond, you have it). This should be first big news of year 2010. Greece has adopted Euro as its currency and it will bring unnecessary and undue pressure on Euro and thereby igniting the debate that how countries with Euro should manage their currency, monetary policy and interest rate policy because every country is independent but action of one country affect economy of other country.
3) Rajeev Gandhi had assigned P. Chitambaram independent charge of Home Ministry following his difference with then Union Home Minister. Mr. P. Chitambaram is credited to have conceptualize and implementation of elite forces for specialized jobs such as SPG (Special Protection Group) and MARCOS (Elite commando force used to neutralize Mumbai Terror attack).It was this background which made him as obsvious choice as Home Minister post Mumbai Terror Attack.
4) Supreme Court has reserved judgments on few cases for more than two years. According to rules, if any of the judges on the bench retires before the judgment is delivered, the entire hearing has to start from scratch. That is why you see many judgments are delivered when one of the judges is about to retire. The Ambani case may meet similar fate and judgment may be delayed by April 2010 because Chief Justice (who was on bench) will retire in May 2010.
5) Indian signed commonwealth games in year 2003. No work happened till May 2008. When UPA-II came into power and assigned Mr. Gill (Former Election Commissioner) as sports minister, things started moving. Only less than 10 months are left and we have not yet completed many of the stadiums.
1) Total number of Banks failed in US till date: 140
2) Greece government may default on its short term bond (If a government defaults on short term bond or any bond, you have it). This should be first big news of year 2010. Greece has adopted Euro as its currency and it will bring unnecessary and undue pressure on Euro and thereby igniting the debate that how countries with Euro should manage their currency, monetary policy and interest rate policy because every country is independent but action of one country affect economy of other country.
3) Rajeev Gandhi had assigned P. Chitambaram independent charge of Home Ministry following his difference with then Union Home Minister. Mr. P. Chitambaram is credited to have conceptualize and implementation of elite forces for specialized jobs such as SPG (Special Protection Group) and MARCOS (Elite commando force used to neutralize Mumbai Terror attack).It was this background which made him as obsvious choice as Home Minister post Mumbai Terror Attack.
4) Supreme Court has reserved judgments on few cases for more than two years. According to rules, if any of the judges on the bench retires before the judgment is delivered, the entire hearing has to start from scratch. That is why you see many judgments are delivered when one of the judges is about to retire. The Ambani case may meet similar fate and judgment may be delayed by April 2010 because Chief Justice (who was on bench) will retire in May 2010.
5) Indian signed commonwealth games in year 2003. No work happened till May 2008. When UPA-II came into power and assigned Mr. Gill (Former Election Commissioner) as sports minister, things started moving. Only less than 10 months are left and we have not yet completed many of the stadiums.
Sunday, January 17, 2010
Quick Bites
Well! A posting after almost 16 months. Sharing something which may amuse you may find interesting:
1) According to latest Economist, pharmaceutical companies are working on smarter pills in an effort to diversify and stabilise their revenue. Proteus's technology, which enables pills to relay data about a patient back to doctors after they have swallowed, is a prime example. You can read the whole article on http://www.economist.com/businessfinance/displaystory.cfm?story_id=15276730.
2) Cricinfo jury, comprising retired and current test cricketers and eminent cricket journalists, declared Ricky Ponting the cricketer of decade (2000-2009). Think about it for a moment and you seem to agree. Ponting has indeed made runs in important matches in both forms of the game. The only black spot is loosing ashes twice but more as a captain.
3) Food inflation and general inflation in India is showing rising trend. The government is more worried with food inflation which has come down slightly to 17%. However, views in the government is interesting. Mr. C. Rangrajan (Head of Economy Advisor panel to PM and a former RBI governor) is advocating for hardening interest rates, Mr. Kaushik Basu (eminent economist and head economist in Finance Ministry) is saying nobody takes loan or no bank gives loan to buy lunch or dinner meaning hardening interest rates will be like using a hammer to kill a mosquito. Finance Minster has hinted that raising interest rate while government stimulus is on, will be contradictory.
Reserve Bank Governor is silent. I guess RBI will revise only Cash Reserve Ratio.
4) Bankers in India are headed towards Technology. Earlier private banks proved how technology can be instrumental in increasing reach and increasing per employee profit. Now, Public Sector Banks are after technology and implementing in their respective banks. The latest revolution is in mobile banking where RBI has revised guidelines and encouraged banks to launch mobile banking applications. The purpose seem to be marrying mobile with banking. The launch of 3G will spur internet browsing on mobile by Indians because there is hardly any broadband penetration in India (2-2.5%). But still there are miles to go as far as mobile banking is concerned.
5) 3G launch will change complexion of mobile phone market in India. The demand for powerful and internet-browsing friendly phones will rise. Further, we may see Apple and Google focussing on Indian middle class needs and launching India specific phones. Nokia is already sweating with launch of Google 'Nexus One' in USA and it may sweat in India if Google and Apple become serious in Indian market.
Visit this site tomorrow for next of quick bites.
Tuesday, September 30, 2008
US Congress has voted-out bailout package. It sends clear signals that US congress has little trust in Mr. Henry Paulson, who as chief of Goldman Sachs two years back, was a staunch advocate of lax regulatory practices. The opposing members see Mr. Henry Paulson's deal making tactics and drive for exorbitant profits responsible for current crisis as a leader on wall street at that point in time. I may be incorrect, however, timing of crisis and bailout could not have been worse when US is going to vote for next president.
If we take few steps back and look at USA, now it is time for congress to look at all expenditures and especially their defence expenditure where billions of dollars are being drained on war against terror. I don't know what is positive outcome, but it has certainly managed to bring Pakistan closer to Iraq. The time has arrived when USA should look at their own backyard and invest precious resources in their own country.
The US congress also believes that fundamentals of bailout package are flawed. A problem created by market should be solved by market. If we say regulators are participants of market in a way, then regulators should take moral responsibility and offer to tender their resignations. My guess is US congress is expecting more bad blood to come out before any medicine can take considerable effect to ensure survival.
The US congress also qustioned rational behind hurry shown in AIG bailout and they believe primary reason was 20% of Goldman Sachs liabilities with AIG. Clearly, AIG failure would have created similar conditions under which Lehman went for chapter 11. It may have also resurfaced mess created by CEOs and one of which happens to be current US finance secretary. It is also a case of conflicted interest. When situation turns from bad-worse-worst and wall street may force Oxford university to coin next word after 'worst', the parliament has a right to look into every step taken with sceptism and take a decision based not on short term relief but also on long term stability.
This whole debate has revised definition of capitalism and socialism. Does current crisis indicate that capitalism is nothing but human greed and can't survive on its own? Finally all capitalist are trying to hide under socialism cover from government. The crisis will host many brilliant debates in many parliaments and we may see world over financial framework being adjusted to accommodate capitalism under socialism. There is little difference between efficiency and milking out human element when sun promises to rise everyday. As darkness spreads, we ultimately find the balance between two was tilted in favor of later far too much as much as it can be fatal for not only market but whole economy.
We may find a detailed bailout package and not a blanket package proposed this time. US congress may also nominate few people to share responsibility with Fed Chief to prepare a bailout package. The package should provide quick relief on case by case basis keeping long term interests in mind. It should focus to relieve common man and this should be central point to bail-out financial institutions.
However, one question about extent of government control on markets remains open. At present, it may not be suitable to have a neutral debate on the topic because the current turmoil will pull more weight towards government control. One thing is certain - All financial risk analysis guidelines must be reviewed and re-written to evolve a robust risk model in future with an incentive process to adhere to it (There is potential business for Indian IT companies). It is truly surprising that top USA financial institutions, at the brink of failure, didn't even adhere to BASEL II norms and it certainly raises serious questions on current regulatory set-up. All the firms have not more than 3.0% Capital Adequacy Ratio.
I will not be going overboard if I recommend best financial minds in USA to seek inputs from Indian Banking regulation system which has kept a fine balance between regulatory bodies and market forces to keep an economy afloat for last 2 decades (I count period post 1991 budget) with minimum risk.
If we take few steps back and look at USA, now it is time for congress to look at all expenditures and especially their defence expenditure where billions of dollars are being drained on war against terror. I don't know what is positive outcome, but it has certainly managed to bring Pakistan closer to Iraq. The time has arrived when USA should look at their own backyard and invest precious resources in their own country.
The US congress also believes that fundamentals of bailout package are flawed. A problem created by market should be solved by market. If we say regulators are participants of market in a way, then regulators should take moral responsibility and offer to tender their resignations. My guess is US congress is expecting more bad blood to come out before any medicine can take considerable effect to ensure survival.
The US congress also qustioned rational behind hurry shown in AIG bailout and they believe primary reason was 20% of Goldman Sachs liabilities with AIG. Clearly, AIG failure would have created similar conditions under which Lehman went for chapter 11. It may have also resurfaced mess created by CEOs and one of which happens to be current US finance secretary. It is also a case of conflicted interest. When situation turns from bad-worse-worst and wall street may force Oxford university to coin next word after 'worst', the parliament has a right to look into every step taken with sceptism and take a decision based not on short term relief but also on long term stability.
This whole debate has revised definition of capitalism and socialism. Does current crisis indicate that capitalism is nothing but human greed and can't survive on its own? Finally all capitalist are trying to hide under socialism cover from government. The crisis will host many brilliant debates in many parliaments and we may see world over financial framework being adjusted to accommodate capitalism under socialism. There is little difference between efficiency and milking out human element when sun promises to rise everyday. As darkness spreads, we ultimately find the balance between two was tilted in favor of later far too much as much as it can be fatal for not only market but whole economy.
We may find a detailed bailout package and not a blanket package proposed this time. US congress may also nominate few people to share responsibility with Fed Chief to prepare a bailout package. The package should provide quick relief on case by case basis keeping long term interests in mind. It should focus to relieve common man and this should be central point to bail-out financial institutions.
However, one question about extent of government control on markets remains open. At present, it may not be suitable to have a neutral debate on the topic because the current turmoil will pull more weight towards government control. One thing is certain - All financial risk analysis guidelines must be reviewed and re-written to evolve a robust risk model in future with an incentive process to adhere to it (There is potential business for Indian IT companies). It is truly surprising that top USA financial institutions, at the brink of failure, didn't even adhere to BASEL II norms and it certainly raises serious questions on current regulatory set-up. All the firms have not more than 3.0% Capital Adequacy Ratio.
I will not be going overboard if I recommend best financial minds in USA to seek inputs from Indian Banking regulation system which has kept a fine balance between regulatory bodies and market forces to keep an economy afloat for last 2 decades (I count period post 1991 budget) with minimum risk.
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