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Showing posts from January, 2017

Cash withdrawal: EC solution?

https://www.google.co.in/amp/wap.business-standard.com/article-amp/opinion/letters-cash-withdrawal-117013101462_1.html Please see "Understanding the other side" in my earlier Blog post M G Warrier

UNIVERSAL BASIC INCOME: Hidden agenda of benevolence?

http://www.thehindu.com/opinion/lead/The-hidden-agenda-of-benevolence/article17117821.ece Excerpts: "Back in 2008, in an influential paper in the   Economic and Political Weekly   titled ‘The case for direct cash transfers to the poor’, Arvind Subramanian, the present Chief Economic Adviser of the government, along with economists Devesh Kapur and Partha Mukhopadhyay, argued that the ₹1,80,000 crore spent annually on centrally sponsored schemes and assorted subsidies should instead be distributed as cash directly to 70 million households below the poverty line. Put simply, the UBI in India is nothing but the old wine of direct cash transfer in a fancy new bottle."

Unfair demand

Unfair demand : Election Commission must review its call on cash withdrawal... Understanding the other side This refers to your editorial “Unfairdemand” (Business Standard, January 31). The role of hard cash in electioneering is again in focus. This time, unfortunately, a statutory body responsible for monitoring abuse of cash in elections is openly coming out making a plea that 'cash' should play a greater role in elections. It needs to be clearly understood that GOI or RBI are not standing in the way of candidates spending 'money' within the allowed ceilings. The limits for withdrawals are applicable to cash withdrawals from single savings bank accounts and not on 'expenditure'. These limits are, as rightly pointed out by you, to all citizens in India across geographies. A section of the media is celebrating as if there is a tussle between EC and RBI, while both are just performing their assigned roles within their legal and policy constraints.

Y V Reddy pitches for comprehensive gold policy

Y V Reddy pitches for comprehensive gold policy : He said it is time to handle the precious metal in a better way... A timely reminder This is a timely reminder for policy makers. The initiatives already taken for mainstreaming domestic gold stock need to be taken forward. Institutions and individuals holding huge stock of the yellow metal in various forms have to be persuaded by appropriate incentives for making available the gold stock for productive deployment. Transparency in accounting gold stock and minimising abuse of gold should be national priorities. M G Warrier

WEEKEND LIGHTER: SPECIAL MIDWEEK ISSUE: Blog Post No:2555: Trump's options

Trump’s options on borders: Geographical and psychological! The context of this article comprise media reports about two initiatives coming from US President Donald Trump, in quick succession after the inauguration on January 20, 2017. These are: (a)   A 20% Border Tax on imports from Mexico. The tax is purportedly to pay for a wall Trump proposes to build across US-Mexican border to prevent illegal migration of Mexicans to US. (b) Trump’s ban on entry of people from 7 Muslim nations into  United States for ninety days and suspension of admission of refugees for 120 days through an executive order. The first major decisions coming from a President with rich building background and who got elected with reference to sentiments rather than political or economic issues, will be welcomed by his supporters across the world. Especially so, because the border wall project will be financed by Mexicans themselves by paying extra duties to US on their future exports and exped

Cash for vote

http://www.thehindu.com/news/national/EC-renews-plea-to-RBI-for-higher-cash-withdrawals/article17112578.ece Cash for vote This refers to the report "EC renews plea to RBI for higher cash withdrawals" (The Hindu, January 30, 2017). The role of hard cash in electioneering is again in focus. This time, unfortunately, a statutory body responsible for monitoring abuse of cash in elections is openly coming out making a plea that 'cash' should play a greater role in elections. It needs to be clearly understood that GOI or RBI are not standing in the way of candidates spending 'money' within the allowed ceilings. The limits for withdrawals are applicable to cash withdrawals from single accounts and not on 'expenditure'. A section of the media is celebrating as if there is a tussle between EC and RBI, while both are performing their roles within their legal and policy constraints. M G Warrier , mumbai

Remembering the novel "The Plot Against America"

Donald Trump’s Plot Against America In his 2004 novel, The Plot Against America, Philip Roth precisely described the sinister and chilling nightmare in which the US now finds itself under Donald Trump. What does Roth think of the new administration – and of the possibilities for resisting it? Disclaimer: I've not read the novel referred to here. M G Warrier 

Freeing the IIMs

Freeing the IIMs : Autonomy is a necessary but not sufficient condition for excellence... Online comments posted on January 29, 2017: "Let me read the lines "However, autonomy from the government does not necessarily ensure excellence. It is important that the boards enforce standards on the faculty, rather than allow the latter to call the shots and protect its privileges, as is often the case in India." Of late, words like autonomy, administrative independence, freedom from interference etc are being used as if there is an insulation available from "political interference". A via media has to be found out where institutional freedom within the provisions of the law of the land will be protected. For this government support by way of legislative, financial and management support is essential. When institutions become recalcitrant, it is not difficult for government to make them sufficiently weak, till they become 'amenable'. What is needed is

Case for targeted basic income

http://www.thehindu.com/opinion/columns/Case-for-targeted-basic-income/article17098187.ece Online comments posted: " An excellent analysis. Pooling of resources now deployed for food subsidies, employment guarantee and other social security systems can be thought of only after the new experiment becomes really Universal and trustworthy. Additional funding from organizations including corporates which are not able to generate employment, but are able to grow and generate surpluses can be thought of. The rationale for such an approach would be their own dependence on a secure and healthy society for survival." Also read my Moneylife article at: http://www.moneylife.in/article/universal-basic-minimum-income-are-we-clear-about-the-concept/48745.html M G Warrier

Trump seeks 20% tax on Mexican imports to build border wall

Trump seeks 20% tax on Mexican imports to build border wall : President Donald Trump is seeking to impose a 20 per cent tax on imports from countries... http://m.thehindubusinessline.com/news/world/trump-seeks-20-tax-on-mexican-imports-to-build-border-wall/article9504350.ece Building on ideas This refers to the report that US President trump proposes to build a wall across US-Mexican border to prevent illegal migration of Mexicans to US. The first major decision coming from a President with rich building background will be welcomed by Trump’s supporters across the world. Especially so, because the project will be financed by Mexicans themselves by paying extra duties to US on their future exports. But why a wall? Why not clusters of buildings across the border, factoring in the need for residences of security forces, jails to accommodate Mexicans or other immigrants who will still try to trespass(jails in US are also ‘catchment areas’ for cheap labor!), or still better indust

WEEKEND LIGHTER: Focus on public goods

WEEKEND LIGHTER: Focus on public goods (January 28/29, 2017, No.4/2017) Weekend Lighter is posted every Saturday @mgwarrier.blogspot.in Feel free to mail your views on this edition of WL to   mgwarrier@gmail.com Section III: PM Modi's Xmas Mann ki baat I Opening remarks It is gratifying to see that more and more viewers are visiting Warrier’s Blog @mgwarrier.blogspot.in I consider it as an encouragement that some friends have started posting their comments also. Thanks to all. Focus on public goods The BS interaction with former RBI Governor Y V Reddy (Business Standard, January 25) gives deep insight into the conduct of bureaucrats, politicians and economists of different denominations which is dependent on their background and career path. Such revelations should help present and future incumbents who are destined to play their role in policy formulation and implementation, which, all do with welfare of the people in mind. The concern expressed by

Gettysburg speech

https://www.abrahamlincolnonline.org/lincoln/speeches/gettysburg.htm Thought, we should remember this speech in the present context. M G Warrier

NARAAYANEEYAM: DIVINE VISION: AGRE PASHYAAMI TEJO...

NARAAYANEEYAM Dasakam: 100: Divine vision Slokam: 01 अग्रे पश्यामि तेजो निबिडतरकलायावलीलोभनीयं पीयूषाप्लावितोऽहं तदनु तदुदरे दिव्यकैशोरवेषम् । तारुण्यारम्भरम्यं परमसुखरसास्वादरोमाञ्चिताङ्गै - रावीतं नारदाद्यैर्विलसदुपनिषत्सुन्दरीमण्डलैश्च ॥१॥ agre pashyaami tejO nibiDatara kalaayaavalii lObhaniiyaM piiyuuShaaplaavitO(a)haM tadanu tadudare divyakaishOraveSham | taaruNyaarambharamyaM paramasukha rasaasvaada rOmaa~nchitaangaiH aaviitaM naaradaadyairvilasadupaniShat sundarii maNDalaishcha || 1 In front of me, I see a halo of radiance excelling a very thick bed of blue lilies,Which made me feel that I am bathed in the nectar of the sight. Then, in the centre of the radiance I see the form of a divine young body enchanting by the budding of youth. . He is surrounded by sages like Naarada As seen by his hair standing erect on all his limbs. Who is signifying their thrilling experience of Supreme Bliss, and by a bevy of beautiful maidens personifying th