Warrier's COLLAGE August 27, 2021

Welcome to Warrier's COLLAGE On Friday August 27, 2021 Music with sound of birds https://music.youtube.com/watch?v=K2gmi3IuGhM&feature=share Good Morning Some readers informed H2 was incomplete yesterday. Included at H4 today. Nice Day M G Warrier M 134 RBI appoints Ajay Kumar as Executive Director* https://m.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=52111 *Details at H1 A Messages 1) Sitendra Kumar This is regarding the column titled ' Leisure' forwarded y Dr Surendran Mananthavady. The moral of the story is Batchmates are important. Yes, the batchmates are important especially in the army, but normally everywhere. In the army, the system is from the rank of Lt Col. onwards, only 33% of the officers are selected for next higher rank and the rest are eliminated. So out of a batch of hundred officers, only three become Lt. Gen. and one attains the rank of Gen. The rest who fail to make to the post of Colonel by selection are promoted on timescale basis after 26 years of service to that post. But the concept of batch-mate is important. No matter whether you are holding the post of Lt Col or Colonel and your batch-mate has become Lt. Gen. or Gen. or you have retired and your batch-mate is the Army Chief, you can give him a ring, call him by name and ask him to book reservation for you and your family in the Army Guest House or for his treatment in Army Research & Referral Hospital in Delhi. He would be obligated to do it and he would do it, rest assured. That's the importance of batch mate. Without hesitation you can approach him. B General 1) Malala's article* in the current issue of Mainstream Magazine http://mainstreamweekly.net/article11460.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+MainstreamWeekly+%28Mainstream+Weekly%29 Excerpts : Malala Yousafzai In the last two decades, millions of Afghan women and girls received an education. Now the future they were promised is dangerously close to slipping away. The Taliban who until losing power 20 years ago barred nearly all girls and women from attending school and doled out harsh punishment to those who defied them are back in control. Like many women, I fear for my Afghan sisters. *Originally published in New York Times. 2) Param Vir Chakra designed by*... THE LADY WHO DESIGNED THE PARAM VIR CHAKRA( PVC): The Param Vir Chakra was designed by Savitri Khanolkar, a Swiss national whose real name was Eve Yvonne Maday de Maros, married to an Indian Army officer, Vikram Ramji Khanolkar.In 1929, she met Vikram Khanolkar, a young Indian Army cadet undergoing training at Sandhurst, who had come to Switzerland for a break. She was still a teenager then; however, both fell in love although Vikram was much older than her.She came to India in 1932 and married Vikram in Lucknow. She changed her name to Savitri Bai after marriage. In spite of her European background she quickly adapted to Hindu tradition. She became a vegetarian, learnt to speak fluent Marathi, Hindi and Sanskrit. And also learnt Indian music, dance and painting. She called herself an European with an Indian soul, and never liked being called a foreigner. She had a deep interest in Hindu Puranas, which she read extensively, and also studied India's ancient history and its legends. It was due to this that Major Hira Lal Atal, the first Indian Adjutant General of independent India, asked her help in designing the Param Vir Chakra. Drawing on her extensive knowledge of the Puranas, Savitri Bai thought of Rishi Dadhichi, who had given up his own body for Indra to make the deadly Vajra, or thunderbolt. She came up with the design of a double Vajra. The Param Vir Chakra is cast in bronze. In the centre, on a raised circle, is the Ashok Stambh, surrounded by four replicas of Indra's Vajra and flanked by swords. Incidentally, the first recipient of the PVC, Major Somnath Sharma, was the brother-in-law of Savitri Bai's elder daughter Kumudini, who died while fighting at the Battle of Badgam during the 1948 war with Pakistan. After her husband passed away in 1952, Savitri Bai sought refuge in spirituality and spent her later years with the Ramakrishna Math. She also wrote a book on the Saints of Maharashtra. She passed away on 26 November 1990 at the age of 77 after leading a truly remarkable life. A Swiss national of mixed Hungarian-Russian descent, married to an Indian Army officer had designed the ‘Param Vir Chakra,’ the highest military award in India! With the PVC, Savitri Khanolkar also designed the Mahavir Chakra, the Vir Chakra and the Ashok Chakra, the highest peacetime gallantry award. In India's official order of precedence, the PVC is second only to the Bharat Ratna. Post Credit Purnima Ranganathan *Forward received from Dr Chitra Nashik C Readers' Contribution 1) ARUM : V Babusenan Thiruvananthapuram There is a word in Malayalam the equivalent of which, I am told, is not there in other languages. It is 'ARUM' the first letter of which is to be pronounced as the first letter in the preposition 'at' and the following letters together represent the favourite liquor of the armed forces. Arum used to be a superstition confined to the literary circles. It is a feared belief that certain words the poet( not any poet, but the first rate) says in his poem sometimes happen in his own life later. It seems that, after the introduction of 'scientific temper' in our constitution,this superstition, though innocent, ceased to exist among Kerala poets and their admirers. One supposed victim of arum was Unnayi Warier who wrote the famous aattakkadha 'Nalacharitham' in which he made one character say : "the family came to an end". It so happened in his case that he died issueless and his family actually came to an end. (I presume that the esteemed readers know that Warier was a close friend of Kunchan Nambiar) Another victim was Pazhassi Raja who penned the aattakkadha' Bakavadham'( the killing of the demon Baka) There the poet made the Paandavas say : "Kaade namukku gathi "(The jungle is our fate) All of us know that Pazhassi Raja is an integral part of our freedom struggle and, fighting against the British, he was forced to live and die in the woods. Coming to Kumaran Asan, one of the famous 'poet trio 'of the early 20th century, he boarded a motor boat bound to Alappuzha from Kollam Jetty around 10 in the night. Some others in the boat recognized him and, in his attractive voice he sang for them the entire poem 'Karuna' written by him. It was very late when he finished reading it. He then said:,"Friends, let me have some sleep." Asan did not wake up from that sleep. His was one of the 24 bodies picked up from the bottom of the Pallana river around 15 miles south of Alappuzha. The boat capsized on account of overcrowding. It happened on the wee hours of the 16th January 1924. Asan readers found out an arum in two lines in his long poem 'Duravastha' which he wrote against the background of the agrarian revolt of 1921, better known as 'Mappila lahala', in the Malabar region of Kerala. The lines are: "Anthamillathulloraazhatthilekkithaa Hantha! thaazhunnu thaazhunnu... kashtam!" (Alas! going down and down in the bottomless depth!) 2) V R Chittanandam Cheñnai Sam Maneckshaw's beloved armed forces : N Vijayaraghavan Shri N.Vijayaraghavan, a practising advocate at Madras High Court with more than three decades of experience authored a Book titled Sam Maneckshaw's beloved armed forces'. He decided to contribute the proceeds from the sale of the book to worthy Trusts devoted to the cause of men and women of the armed forces. (Continued at H2) D 1) Accent does not matter- clarity does!* This is companion piece to the post I wrote yesterday on 'Grammar matters". This anecdote llustrates how content and clarity scored over panache and surface polish. An unimpressive looking, dhoti clad and short-sighted old man with a pronounced Tamil-influenced English accent, addressed a crowd of impatient and skeptical young men in London nearly sixty years ago. He won their hearts and admiration by sheer clarity and content of his speech. I can vouch for it because I was in the audience! (Continued at H3) *Received from K P V Karunakaran Mumbai 2) Elephantine Memory* Last month in our club, I won 2 prizes. 1st for memory power. Well, the second, I can't remember what it is for! *Received from A P Ramadurai Cheñnai (After reading Babusenan's piece at B1, I remember, second one was after the session 🙏-Warrier) E Indian Pension System 1) M G Warrier : 2012 https://www.moneylife.in/article/what-ails-the-new-pension-scheme/27305.html Excerpts : The central government employees who were in service as on 31 December 2003 have a Defined Benefit Pension Scheme. According to a 2008 estimate, the net present value of the pension liabilities of central government now being met on a Pay-As-You-Go basis was Rs3,35,628 crore (6thPay Commission Report, 2008). Considering this staggering liability which grows proportionately along with the rise in inflation and periodical revisions in the government pay structure, a proposal to introduce a restructured defined contribution pension system —NPS—was mooted for new entrants to central government service. The NPS was introduced from 1 January 2004, for new entrants to central government service replacing the existing system. Thus the NPS was born. The scheme was compulsorily thrust upon the central government employees. NPS, somewhat similar to retirement benefit schemes offered by mutual funds, has also been thrown open for subscription to the public two years back, with some incentives from the Government of India. A salient feature which distinguishes it from mutual fund schemes is the attraction offered by the finance ministry that all subscribers registered in FY2010-11 will be eligible for getting a contribution of Rs1,000 per year from the government for four years beginning the same year. Not much research is needed to find that this is simply a back-door borrowing by government, as the matching contribution and the subscriptions will remain with NPS Trust for an unspecified period of time with no liability whatsoever to provide any return! 2) Improvement in Banking Sector Pension https://www.money9.com/news/banking/fm-announces-big-change-in-pension-rules-for-bank-employees-know-how-much-pension-they-will-get-now-72984.html More money in bank: Family pension for PSB staff raised to 30% of last pay, NPS contribution raised 3) Facing the Future : Book Review Indian Pension System : Facing the Future : IIM Bangalore Facing the Future https://www.amazon.in/dp/0070617384/ref=cm_sw_r_apan_glt_fabc_72ZWFKVV21Y0F0H6D9E7 Description Key Features: With the average human lifespan on a steady incline, a large population of senior citizens is being supported by state run pension schemes. Governments, across the world, are finding it extremely difficult to cope up with the increasing pressures on their funds. India, though still a relatively young society, is also beginning to feel the impact of its progressively increasing population of senior citizens who would need to have access to regular post retirement incomes. Consequently, major changes in the pension systems seem inevitable. Facing the Future: Indian Pension Systems, a joint effort between Indian Institute of Management, Bangalore and ING, analyses the results of extensive market surveys, draws from the experience of industry experts and studies the different pension systems around the world. The book encourages thinking on the pension issues which will lead to a viable solution to India?s problems. The book discusses: ? Current pension systems in India and around the world ? Pension benefits available to public sector and private sector employees in India and to the workers of the unorganized sector ? Areas of concern with the existing pension system ? Reform initiatives for improving the current scheme of things About the Author: David J. W. Hatton David J W Hatton is the Director & CRO of ING Vysya Life Insurance Company Pvt. Ltd. heading pension operations, developing pension market, employee benefits, group life and group health. He has over 35 years of experience in the insurance industry. Naren, N. Joshi Naren N. Joshi is the Chief Representative of ING Insurance International B. V. in India. He has rich experience of over 40 years in the life insurance industry in India. R Vaidy F Who's Jenny Eclair? https://jennyeclair.com/ A BRAND NEW SHOW Having hit 60 (but still a year younger than Madonna), Jenny Eclair AKA ‘The Face of Vagisan’ confronts a new decade of decrepitude. Now that it takes 20 minutes of scrolling down to find her DOB when she's filling in forms online, should she celebrate or crawl into a hole? What will her 60's hold for this 1960's babe and is it a legal requirement to buy Nordic walking poles? PS, ‘I'm carrying quite a lot of excess lock down weight, which you can feel free to discuss behind my back during the interval’. Love Jenny x G Quotes about Pension System https://www.brainyquote.com/topics/pension-quotes Like : "I have a fear of poverty in old age. I have this vision of myself living in a skip and eating cat food. It's because I'm freelance, and I've never had a proper job. I don't have a pension, and my savings are dwindling. I always thought someone would just come along and look after me." Jenny Eclair (Jenny Eclair is an English comedian, novelist, and actress, best known for her roles in Grumpy Old Women between 2004 and 2007 and in Loose Women in 2011 and 2012) H 1) RBI appoints... RBI appoints Shri Ajay Kumar as new Executive Director The Reserve Bank of India has appointed Shri Ajay Kumar as Executive Director (ED) with effect from August 20, 2021. Prior to being promoted as ED, Shri Ajay Kumar was heading the New Delhi Regional Office of the Bank as Regional Director. Shri Kumar has, over a span of three decades, served in foreign exchange, banking supervision, financial inclusion, currency management and other areas in the Reserve Bank. As Executive Director, Shri Kumar will look after Department of Currency Management, Foreign Exchange Department and Premises Department. Shri Kumar is Masters in Economics from Patna University, MS in Banking from ICFAI and Certified Bank Manager from Institute of Bank Management and Research, Hyderabad. He has undertaken Executive Management Programme from Kellogg School of Management, Chicago and holds other professional qualifications including Certified Associate of Indian Institute of Banking and Finance (CAIIB). (Yogesh Dayal) Chief General Manager 2) Continued from C2 It is an honour to him that the National Book Trust has decided to publish this book in 21 languages. Shri Vijayaraghavan true to his reputation has decided to forgo the Royalty for the publication. Text of his letter addressed to National Book Trust is appended. Chittanandam Shri. Vikram Malik, Director, National Book Trust, New Delhi 110070. Dear Sir, Re:Sam Manekshaw's Beloved Armed Forces, Kalaimagal Publications, Chennai I have the pleasure and privlege of reading the letter dt.24.08.2021 addressed by the Publisher, to your good self. I readily associate myself with the sentiments and contents, as author and copy right holder of the publication. I am glad to offer the book for print and publication by National Book Trust,in such languages as they deem fit. I hereby accord permisslon for the same. I also make it clear that l am not inclined to seek or claim any royalty for the publication to be effected by NBT. I leave it to you to approprlate it, for any noble cause you may deem fit, as per your institutional practices. l am grateful for the Publisher to have made this introduction and feel that our Armed Forces and Sam Manekshaw deserve the accolades. Not me. Particularly, with December 4-16,2021 -round the corner, to celebrate the golden jubilee of Sam Manekshaw's leadership and the triumph of our sacrificing soldiers, in the 1971 war to liberate/create Bangladesh. There cannot be a prouder moment for me, to feel part of this memorable occasion. l eagerly look forward to the publication in all Indian languages. The message would be invaluable to the younger generation as Justice G R Swaminathan, Madras High Court, wrote in a judgment, on this book, commending it to be distributed to school and college students. Thanking you in anticipation. Jai Hind. Bharat Mata ki Jai. Yours faithfully, CC To Kalaimagal Publications. 3) Continued from D1 Three intellectuals from India, Benegal Shiva Rao, RR Diwakar and Rajaji traveled to US to meet President Kennedy to urge him to adopt unilateral nuclear disarmament in 1962. They stopped over in London to meet Bertrand Russell, the apostle of the policy. They addressed Indian students at Indian YMCA in London on a Sunday. The naval officers under training at Royal Naval College, Greenwich, were advised by the Indian Naval Advisor at London to attend the lecture. I would have gone anyway as I wanted to hear Rajaji speak. Suited and booted Shiva Rao and Diwakar spoke impressively of their mission in clipped Oxbridge accents. They were followed by a nondescript looking old man Rajaji, clad in a Dhoti Kurta and wearing sandals. The audience, mostly from north India, thought they were in for a boring time. Rajaji had a pronounced South Indian accent which did not add to his appeal. He started by saying "I am an old man nearing the end of his life. You are young people doing advanced studies in England. I was wondering what advice I could give you, when I found it plastered in billboards on London Roads. "Take Courage!" (These were advertisements for beer from the well known brewery Courage and Barclays!)" The audience sat up. He followed " I mean, take courage, not of the liquid variety but that which comes from within. Be bold in facing life's challenges." By then, he had the audience eating out of his hands. He spoke for forty minutes on nuclear disarmament and many other subjects. He then urged the students to return to India on completion of their studies. He was brilliant. We forgot Diwakar and Shiva Rao totally. He ended with the advice " Never confuse comfort with happiness. Comfort comes from conveniences outside and would be available sooner or later in India also. It is external to your being. Happiness comes from your inner core and does not depend on material things around. You may have more comfort here but you will find happiness only in India. Come back and serve your motherland and live with your kith and kin." Believe it or not, with the permission of the audience he spoke in Tamil for five minutes and then reverted to English. When he finished there was a standing ovation. Every one of us was moved. Substance always triumphs over form! (P.S.- The delegation met up with the US President John F. Kennedy, who gave them 25 minutes, but was so charmed by Rajaji that in the end they chatted for over an hour. Later, Kennedy told an aide that “seldom have I heard a case presented with such precision, clarity and elegance of language”. The diplomat, B.K. Nehru, who was present, recalled how “the secretaries who came in with slips of paper reminding the president of his appointments were shooed away”. Kennedy, it appears, was “fascinated” by Rajaji.) 4) H2 from Collage of August 26 H 2) Continued from C2 For example, the possibility of ministerial bungalows spread over the whole city getting substituted by residential complexes in the vicinity of Parliament House, Secretariats or Legislative Houses can be considered. The excess land and buildings that will get released will be worth billions which can be rede- ployed for economic development. The city traffic also will become smooth. (b) Domestic gold stocks Gold management needs a makeover. Domestic gold stock with individuals and institutions (including religious bodies) needs to be accounted and mainstreamed for the nation’s benefit. Through an amendment to its ear- lier instructions, the Resrve Bank of In- dia (RBI) expanded the ambit of gold- monetization scheme on January 9, 2019 to enable charitable institutions and temples/religious bodies, among others, to invest their gold stock under the scheme. The revised instructions give a new avenue for productive deploy- ment of idle domestic gold stock. This is a welcome move from the RBI. The new entities which have become eligible to invest their gold stock under the scheme need to be educated about the advan- tages of mainstreaming their gold stock. Issues of trust, faith, emotion and sheer laziness to take responsibil- ity on the part of voluntary social work- ers who generally manage the affairs of trusts and boards of management of re- ligious bodies need to be addressed with care and deftness. Past experience shows, organizations do not spontane- ously volunteer to part with gold, even if the investment fetches substantial re- turns. Perhaps, Tirupati and Siddhivi- nayak (Mumbai) are the only temples which have already availed of the facility to deposit gold in banks and earn income from such deposits. Some of the other temples/religious bodies are sometimes secretive about even the quantity of gold in their vaults. Governments’ eye on every asset as an income source (read: tax) also is behind such fears. According to media reports, during 2017, Tirupathi temple had gold deposits of over 4,000 kg with two banks, fetching the equivalent of the value of around 80 kg gold as inter- est per annum. If the center is serious about mainstreaming domestic stock of investible gold, massive efforts will have to be made to create awareness among the people about the benefits that will accrue to the country’s economy by deploying part of the sur- face gold stock productively. The avail- ability of sovereign guarantee for the gold invested, professional handling of conversion of gold and timely payment of interest and return of gold or value of gold will have to be ensured by central/ state governments. The existence of such protection and facilities should also be publicized in a business-like manner to attract investment. Perhaps, India may be alone in the world to sus- tain the dubious distinction of grossly mismanaging domestic gold stock the country has been holding for centuries in huge quantities, in multiple forms and in various places. When the popula- tion starved and died as a consequence of bad governance or as victims of nature’s wrath, Indian rulers allowed use of huge quantities of gold (a) to be wasted for gold-plating of roofs, flag- masts, and statues and (b) to be held in underground vaults, hidden and unac- counted, as unproductive ‘assets’. A positive change in approach to gold is perceivable from the second half of the current decade. Errol D’Souza, Director, IIM, Ahmedabad in his note recorded in the 3rd Annual Report (2017-18) of the India Gold Policy Centre had this to say about gold management in India: “As a macroeconomist, I uphold the view that integrating gold with India’s broader economic vision is the touch- stone for India’s gold policy and gold markets. The foremost is adopting ‘Make in India’ policy which should ad- dress unexplored gold stocks below the ground, optimal use of gold stocks in cir- culation, and mobilize gold holdings held by individuals in lockers and temples.” At this late hour, GoI needs to un- derstand the significance of the trea- sure in the form of gold stock with insti- tutions and individuals lying idle in the country. As a short-term plan, concrete measures should be initiated for put- ting a substantial portion of the domes- tic gold stock to productive use in the next five years. This will reduce the country’s gold import bill considerably. This can be achieved by: • Making a realistic assessment of gold stock remaining idle in the country; • Providing incentives to holders of gold stock to properly account for the stock with them; • Making gold deposits with banks re- munerative; • Introducing gold-backed financial instruments which are not depen- dent on imported gold (the tiny in- struments now available in the form of Gold ETFs, gold coins and Sovereign Gold Bonds are indirectly dependent on import and have not attracted significant investor inter- est); and • Quickly arrange for infrastructure, technology support and linkages for gold refining and certification facili- ties of international standard. RBI also needs to convert the entire gold stock with it to purer variety con- forming to internationally acceptable standard. If this happens, a new chap- ter in the country’s gold management will unfold. It is distressing to remember the 1991 ‘gold pledge’ episode to save the country from a payment de- fault when the forex reserves of the country had touched its nadir. Think of the agony of a central bank governor be- ing forced to ‘ship’ a small portion of gold in the central bank vault for pledg- ing to draw a small amount of dollars. Even though the gold lying with Bank of England has long been freed of pledge, it was not considered necessary to physi- cally ship the bullion back to India. It should have been for valid reasons that options like selling a portion of gold stock or borrowing dollars against ‘stock’ of gold would have been dropped. Let us forget all that. But, let us re- member, if the stock of gold was of inter- nationally acceptable standard, things would have been different. c) Long coastal areas India’s long coastal areas remain underexploited. More mini-ports, fishing harbors, tourism development, use of sea-belt for transportation of people and goods are all areas needing attention. (d) Forests Forest mapping, planned re-foresta- tion, development of medicinal plant gardens in and around existing forests and commercial exploitation of forest produce without destroying environ- ment need to be prioritized. (e) Workforce Workforce in India is in disarray for vari- ous historic reasons. Privatization of public services and outsourcing of work by organizations, reducing the number of regular employees have affected job se- curity in the short term and social secu- rity in the long term. Remuneration for every day’s work should factor in the con- cept of fair wage comprising living wage and post-job survival costs. Some more issues which need prioritization There is something glaringly missing in management of resources and finance by GoI and that is planning. This is affect- ing smooth implementation of schemes and in some situations, effective func- tioning of institutions. Illustratively: HR issues in financial sector and Indian financial sector service The RBI can be a case to understand how interlinked HR issues are with the func- tional efficiency of public sector organiza- tions. Presently, the RBI is merging some departments concerned with supervision and regulation of different categories of institutions in the financial sector and is in the process of inducting expertise by making direct recruitments at higher lev- els. The dilution of expertise in depart- ments other than the monetary policy and statistics departments has a historic background. Till the early 1970s, the RBI had specialized departments for func- tions needing specialization. In 1972, combined seniority was introduced for some of the large departments and inter- mobility reduced the chances for develop- ment of expertise by remaining in the same work areas. The present effort is to induct experts from outside to compen- sate for this. A better option would be to have an All India Financial Sector Ser- vice similar to Indian Civil Services or Tata Administrative Service with inter- mobility among finance ministries (cen- tral and states), statutory bodies like RBI, NABARD and IRDA, as also banks and financial institutions in public and private sectors. Indian Pension System With the introduction of NPS effective January 1, 2004, all is not well on the Indian pension front. Review for an overhaul is overdue. Cost of post-retire- ment life needs to be factored in, in the wage structure of employees in govern- ment, PSUs and in private sector. Agricultural Income Tax A consensus has to be reached to tax agricultural income above a reasonably high threshold level. Kisan Samman Doling out the paltry amount of 17 or 18 per day to farmers below the poverty line is an insult to the Indian farming commu- nity. What is needed is to plug the leak- ages in pricing of farm produce between the farm gate and the consumer. Once a reasonable farm gate price for the pro- duce is assured, the present generation of workers know how to extract their share as wages. This can be achieved by promot- ing cooperatives for production, process- ing and marketing. Funding government expenditure GoI, of late, has been dipping too deep into the pockets of PSUs and GoI-owned bodies like RBI to meet shortfalls in revenue. This approach will definitely get sympathy from taxpayers and corporates. Taxpayers’ burden will be less to the extent GoI mobilizes re- sources from elsewhere and corporates can delay or deny repayments, if GoI makes good the losses suffered by their creditors. But these are temporary re- liefs and the country cannot delay map- ping of domestic resources and ensuring distributive justice beyond a point. Works in progress on the economic front I think, we should listen first to experts’ views on what they think are the imme- diate possible measures to put the Indian economy on a high growth trajec- tory. A beginner’s guide, which gives il- lustrative notes on works in progress on the economic front, is available in book form authored by experts who were and are associated with policy formulation/ implementation in their work areas. I am referring to the book, What The Economy Needs Now (April 2019), ed- ited by Abhijit Banerjee, Gita Gopinath, Raghuram Rajan and Mihir Sharma, which lists out the issues that confront the economy today and which need immediate attention. These in- clude rising unemployment, banking crisis, falling GDP, farmers’ unrest, etc. It also discusses solutions to the vexing problems such as labor reforms, healthcare, education and environment. It is expected the second term of Modi government would start from where they left and make sure they work to- wards reaching those goals in the true spirit of what the Prime Minister said in his first interaction with NDA’s newly elected MPs: ‘Sabka Saath, Sabka Vikas and Sabka Vishwas’. Let us hope inclusive growth becomes a re- ality now that would help realize the dream called, new India, where no one is illiterate, where everyone is skilled, en- gaged in gainful employment, where ev- eryone contributes to the development and also benefits as the country progresses. And that would surely pave the way for making India one of the most progressive and prosperous econo- mies in the world. ****. ****. ****