Thursday, September 19, 2013

Book Review: The Way Of The Knife

Fishing in troubled waters

Somewhere in Mark Mazzetti’s 400-page scholarship on CIA and its changing role in the post-9/11 world, there is a scene where an ex-counterterrorism expert appears before the 9/11 Commission. Asked whether or not he would have allowed CIA to take out Osama bin Laden without giving him the chance to defend himself before the law, the officer exclaimed “No, absolutely no.” And to drive the point home, he further added, “We’re not Mossad.”

But what CIA did in the decade or so that followed took a heavy toll on the world and the agency itself. ‘The Way of The Knife’ delves there and more.

Those who have interest in such matters would recall a very famous yet controversial hearing in 1975 led by Senator Frank Church that aspired to look into violations by CIA inside the country. However, since President Ford, like several other Democrat Presidents who preceded or succeeded him, wanted to clip the wings of CIA; he suggested that the hearing must take into account CIA’s dirty war outside America’s shores, especially assassination attempts on heads of state. When skeletons like attempts on the life of Patrice Lumumba and Fidel Castro started tumbling out, Ford in an executive order banned any such adventure. A ban that was lifted in a similar executive order by President Dubya Bush.

“President Truman had not wanted the agency to become America’s secret army, but since a vague clause in the National Security Act of 1947 authorised the CIA to “perform such other functions and duties related to intelligence affecting the national security,” American presidents have used this “covert action” authority to dispatch the CIA on sabotage operations, propaganda campaigns, election rigging, and assassination attempts,” he writes.

The idea behind this ban, Mazzetti insists, was to keep CIA away from dirty jobs so that it can focus on quality intelligence gathering without getting gung-ho. Yet, the author rightly suggests, it missed predicting, much less affecting in any way, some of the most earthshaking events that followed, including the Iranian Revolution, the fall of the Berlin Wall, the collapse of the Soviet Union, Iraq’s invasion of Kuwait and, of course, 9/11.

Much of the book, at least the first half of it, documents the rather abrupt and sudden militarisation of the CIA on one hand and the rise in intelligence gathering of Special Operations forces. Bereft of jargon, the book basically tells us how post-9/11 the CIA and DOD started acting like each other. So in Mazzetti’s words, “CIA became a killing machine, an organization consumed with manhunting,” and DOD, particularly, JSOC, “has been dispersed into the dark spaces of American foreign policy, with commando teams running spying missions that Washington would never have dreamed of approving in the years before 9/11.”

What is also interesting is that the transfer of presidency from Bush to Barack Obama could not so much as put a hiccup in the process. If anything, Obama only expedited the process that was anathema for his Democrat predecessors from Ford to Carter to Clinton.   

And this, in more ways than one, tells us why America’s sway and ability to influence events has diminished beyond belief. Take for example the case of CIA operative Raymond A. Davis, the former Green Beret who, while on a intelligence gathering mission in Pakistan, shot and killed two civilians, plunging the relationship between the US and Pakistan to a never before low. The chapter deals with the conflict between the Department of State and Pentagon and how the CIA station head in Islamabad not only undercut the American Ambassador Munter’s position but also jeopardised whatever little chance of trust building that was created.

Or for example the case of Dewey Clarridge, a former CIA operative from the Iran-contra days, who started working as a private intelligence gathering contractor whose over smartness almost ignited a mini-civil war in Afghanistan. And then there was Michele Ballarin, a Gucci and Louis Vuitton flashing Virginia socialite and a failed politician, who got herself entrenched in the internal affairs of Somalia.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
ExecutiveMBA

Monday, September 9, 2013

Book Review: On Hinduism

Discovery par excellence 

Let us assume you don’t know anything about Hinduism, and all you have is the present radicalized climate of India to go by. You would be forgiven for assuming that it is an intolerant and insecure religion, which is against Muslims and Christians, or followers of any other religion for that matter; that it is against homosexuals, and bisexuals, anyone who is not a heterosexual for that matter, in fact against sexuality per se; that it is against women, and against a large section of people put lowest on its archaic caste system. You would wonder as to how this myth of the ‘tolerance of Hinduism’ took birth, when there seems to be just this narrow ‘Hindutva’, and everything that dares go beyond it is met with violence. But then maybe you would pick up “On Hinduism”, a new encyclopedic book from the respected Indologist Wendy Doniger, and you would be surprised as to how much bigger, in all senses of the term, Hinduism really is.

Through its seven sections, containing 63 essays written over four decades, Doniger explores the nature of Hinduism as can be read in the stories its religious texts have contained. This is unique, this focus on stories, and this belief that the essence of the religion lies in the stories told in its tradition. The book begins with an attempt to understand what essentially being a Hindu means, with its pluralism and the ideas of divinity. We then explore the Hindu attitude towards gender and sex, more so the unease-bordering-on-antagonism against all sexes and sexualities apart from the heterosexual male, beginning with Manu’s attitude towards women. A lot of Hinduism, like every other religion, focuses on having desires and controlling them, and Doniger explores its place in Hindu mythology and history. Where Doniger’s writing becomes most intriguing is when she interprets the metaphors in Hindu texts and stories, and through them attempts to understand the gender and caste hierarchies, amongst many other concepts central to the religion. Yet another section studies the question of reality and illusion in the two Hindu epics- Mahabharata and Ramayana, and this leads us yet again to what seems to be clearly the area of great interest to the author; women who challenge patriarchy and the treatment towards the lower castes. The end of the book is a section which makes the book an absolute endearment for me – four short autobiographical pieces tracing her relationship with Orientalism, her critics, and her own life doing what she has done.

Doniger really is a surprising writer. When you are not busy being astounded by her knowledge of the religion and its history, you are left wondering at the beautiful stories she culls out from ancient Hindu texts, and the unexpected connections she draws between pieces which appear centuries apart from each other. But the picture she paints is always complete, and the analysis she draws always fulfilling. She has had more than her fair share of detractors, and this book shall be no exception, but say what they may, Doniger is never prey to convenient writing, or forced logical interpretation. She labours hard to build well rounded arguments, and often unconventional, the essays are always intriguing to read.

Take for instance the section on “Women and other Genders”, a bunch of essays on Hinduism’s relationship with women, and other genders and sexualities including the androgynes, homosexuals, bisexuals, and transsexuals. In the chapter dealing with bisexuality, the author looks at how do texts find a way to circumvent their embarrassment and discomfort in acknowledging bisexuality amongst ordinary people, or amongst Gods. The texts do so through stories that speak of Gods splitting into two halves, one of each gender; and of Gods shifting genders, either just a superficial shift of exterior appearance or a complete transformation – thus talking about the presence of both homosexual and heterosexual desires but after putting a cloak over it. We also see the same stories being told and retold in various texts over centuries, and as to how the narrative seems to keep changing, thus pointing to a shift in the society’s outlook at that particular point in time.

However, more than anything else what makes the book a marvel is that Doniger never takes the voice of an instructor. She is always exploring, and doing so with both wit and wisdom.

You are welcome to join her on the complex adventure that Hinduism is for her. The essays provoke, as any rich text on a lively subject should, and they challenge you out of your comfort zone, but in the end you would be happy for she would have made you come home with a little more truth than what you began with.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Friday, September 6, 2013

Book Review: Narendra Modi: The Man, The Times

An objective assessment

At a time when global leaders are reaching out to Gujarat Chief Minister Narendra Modi after ostracising him for more than a decade for his role in abetting the 2002 riots in the western state he rules, a comprehensive biography of the man is more than the need of the hour.

Modi is either demonised as a “mass murderer” by his political rivals or is enthusiastically hailed as a “messiah” by those swayed by his ideology. Nilanjan Mukhopadhyay, a journalist for three decades, points out that such a description of Modi is flawed as both these extremes see the man either through the prism of the 2002 riots or through the model of development that he represents.

The book is also interesting in the context of the ongoing war of words over the BJP’s likely prime ministerial candidate with Narendra Modi throwing his hat in the ring. Naturally, the urge to know Modi gets stronger. Mukhopadhyay’s book fills this void about the man.

Of course, there have been books in the past that have portrayed Modi as a builder of a modern state. Unlike other books, this one explores and explains what went into the making of Narendra Modi and his rise.

The veteran journalist who authored The Demolition: India at the Crossroads undertook several in-depth interviews, meticulous research and extensive travel through Gujarat to unravel the persona of Modi. In doing so, he brings out unknown aspects of the Modi story. We learn that as a six-year-old boy in Vadnagar in Mehsana district, 80 kilometres off Ahmedabad, he sold tea to help his father, that he distributed badges and raised slogans at the behest of a local political leader, that he abandoned his family and his wife, Jashodabhai Chimanlal, in pursuit of successful public life.

The book tracks Modi’s initiation into the Sangh Parivar as a fledgling who ran errands for his seniors; his idea of Gujarati pride and Indian-ness and finally his meteoric rise which gave him a distinct identity post the 2002 Godhra riots. In his search for a definitive biography of a man who may have challenged the basic principles of a sovereign secular nation but emerged at its destination as an undisputed and larger-than-life leader, Mukhopadhyay weaves together the events, themes, trends and personalities from 1950 till the first decade of the 21st century and how each of them moulded the Modi we know and how he has responded and invented himself to emerge stronger.

Even as the 17 chapters in the book are interesting both from the academic and popular points of view, the chapter on The Modi Kurta that dwells on the leader’s preoccupation with his sartorial exterior will interest Modi-backers and baiters equally. Mukhopadhyay quotes an associate who has known the leader for long that Modi’s effort is always to look distinct and stand out in a crowd.

Taking this observation, the author has investigated Chauhan Brothers of Jade Blue who every year sell more than 10,000 Modi kurtas. The author notes that the kurta is no more a merchandise but has become a symbol of the man: “…the catchline is simple; see a half-sleeved kurta and Modi comes to mind.” May be the Modi kurta is in the tradition of distinctive dressing styles cultivated by Indian political leaders – Gandhi’s loincloth that represented millions of poor, a jacket named after Nehru, among others.

Also documented in the book is Modi’s weakness for the designer Mont Blanc fountain pens and designer watches. The favourite brand of the RSS pracharak-turned-chief Minister is Movado. For spectacle frames, he prefers mainly Bvlgari, notes the author.

Though obviously fashion conscious, Modi is a frugal eater and has simple eating habits. Mindful of his image, Modi has a significant presence in cyberspace and is there in Twitter, Facebook, Google Plus and You Tube.

Though Mukopadhyay, a journalist for three decades, managed to interview Modi for the book, as the book took final shape the subject became incommunicado. Nevertheless the book will remain a window on the mind of one of the most significant Indian political leaders of this decade. It is an objective assessment of Modi and not coloured by any ideology and personal whims and fancies of the author.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Monday, July 29, 2013

The digital dungeon!

India needs to reinforce its IT Act to prevent online abuse

Consider this: an EU Kids Online survey shows that more than “one third of 9-12 year olds and three quarters of 13-16 year olds who use the internet in Europe have their own profile on a social networking site.” According to a 2009 survey by the Pew Research, “38 per cent of 12-year-olds in the United States participate on social networks.” Various researches have shown that frequent usage of internet leads to ‘unwanted cyber behaviour’. Cyber-bullying, sexting and clique-forming are common among juvenile social networking users.

Such crimes are not just confined to the West, but are prevalent in our country too. An India-centric survey by McAfee found that ‘12 per cent of all surveyed kids had been victims of some or other form of cyber threat.’ Another report by Norton titled ‘Norton Online Family Report’ found that 79 per cent of kids have faced negative online situations while 28 per cent have faced a similar situation on mobile phones.

However, unlike the West, our policymakers have not paid much heed to such online behaviour. Our IT Act, 2000, has no provisions to curtail, punish or criminalise cyber bullying of children. So much so, there are no strong laws against online child pornography and child abuse. In this regard, the Supreme Court's concerns about teenagers using social networking sites should not be swept under the carpet. On the one hand, we should organise awareness campaigns on safe usage of social networking sites, and on the other hand we should immediately criminalise dangerous activities. We need to have constitutional guidelines on the usage of social networking sites and should also introduce an age-limit for the same as is the case with driving and alcohol consumption.

Thankfully, the groundswell for reform is beginning to build up. One example is the recent voicing of concern by the Delhi High Court and its reprimand to the central government for its apathy in acting on this societal problem. A division bench of the court comprising Justice B.D. Ahmed and Justice Vibhu Pakhru has collared Facebook and Google for allowing children below 18 years to have unrestricted access to offensive sites. The Majority Act, IT Act and Contract Act forbid such sites from letting children gain access to them, and makes such trespasses illegal in India. The disconcerting part is that these Acts, on most fronts, are toothless and don’t deter those flouting the rules. Now that the judiciary has woken up to the hazard that social media poses to children, it will surely come as a relief to many anxious parents.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Thursday, June 6, 2013

National Award 2013. SANITY RETURNS!!

Monojit Lahiri reports on how India’s only major award platform, mandated to unconditionally salute cinematic excellence across the land, returns to its old fair and fearless ways, undeterred by the distracting glitz n’ glamour of mainstream fare.
Once upon a time, the National Awards was indeed a big deal!  It celebrated a cinema steeped in liberal-humanitarian values embracing progressive solutions to urgent problems; a sensitivity to the plight of the dis-enfranchised & marginalized, poor & oppressed and a faith in the movement of man towards change.  A cinema of social significance and artistic sincerity presenting a modern humanist perspective, way more durable, relevant & significant than the pot-boilers defining the mindless masala for the culturally underprivileged and brain dead!  For an entire decade, [starting with Shyam Benegal’s Ankur in the early seventies] an alternative cinema to the Bollywood mainstream thrived, showcasing a spectacular range of films, actors, themes, subjects and treatment that took one’s breath away.  Shot with low-budgets, on real locations with new actors & technicians, these films attempted to re-examine an entire value system while fashioning a new path and direction.

The National Awards saluted and celebrated these efforts, bringing national & international honour, prestige & recognition to worthy artistes – across all categories – with a large media and enthusiastic audience, in attendance.  Also the LOC with mainstream commercial was clearly demarcated so there was no confusion.  The slow fade-out of this art-house [New] Cinema in the 80’s, coinciding with the rise of the 3 Khans, sounded the death knell of this movement.  The National Awards too, despite its agenda of celebrating quality cinema, was slowly losing ground, both in terms of popularity & quality fare.  Sure, there were a clutch of fine efforts by the gifted exponents of small cinema, but somehow it wasn’t the same.  With time, this annual one-off event was reduced to a here-today, gone-tomorrow affair, a consumer perishable in a glamour and star-driven space.  Sniggered a critic caustically, “No one was interested any more in going to an event without any semblance of glamour where vague regional films & unknown actors were awarded & sarkari types lagaoed long speeches about Cinema as an instrument of national integration … how boring!”  Film Historian & Scholar Rauf Ahmed however begs to differ.  “How can you even compare the National Awards with the zillion B-town awards beamed across TV channels every other day?  These are tamashas – media-house-driven shows, mass entertainment vehicles with a definite ROI in place.  The National Awards, for its turn, genuinely tries to celebrate quality – not popular or successful – cinema.  There’s a world of difference!”

In keeping with the consumerist times & rampaging juggernaut of Bollywood, the National Awards slowly paled into insignificance, a token event associated with ‘good’ cinema with lip-service and the right media bytes [about honour & prestige] in place, forgotten the moment the next B-town award seduced the small screen!  Critics & purists were also alarmed at the increasing Bollywood presence “sneaking into the national awards, at the cost of many worthy films/actors/technicians from unsung small/regional cinema!”

Just when the true-blue fans of the National Awards were about to get into heavy duty mourning mode and remember these awards as yet another template devoured by the compulsions of market-forces – Rs.100 crore club? -  comes the 2013 edition and yanks them out of this depression to fill them with hope and renewed faith in god!  A huge salaam to quality cinema that offered solid value proposition in terms of content, theme, treatment and focus, provided a fresh, different [even quirky & unconventional] take that was relatable in an entertaining & enriching fashion and categorically prove that even in these Dabangg & Ek Tha Tiger–driven times, small films indeed do have a contribution to make, the National Awards 2013 roster confirmed the almost forgotten, ignored, neglected & overlooked commandment that defined their existence – small is big!  Be it the splendid biopic Pan Singh Tomar [Best Film] Vicky Donor [Best Film in Wholesome Entertainment] Irfan Khan [Best Actor] Best Original Screenplay [Kahaani] Best Supporting Actor & Actress [Anu Kapoor & Dolly Ahluwalia, Vicky Donor] Usha Jadhav [Best Actress, Marathi film  Dhaag], these small films solidly swept the polls!

To followers of this new, new-wave, it brought renewed joy, hope and confidence.  For some time now, a bold, new & exciting breed of film-makers – passionate, determined, committed & gifted – has been serving notice by demonstrating their intent in no uncertain terms.  Led by the irrepressible Anurag Kashyap [whose path-breaking Gangs of Wasseypur provided a cathartic & chilling narrative on life & times of the Coal mafia], Dipakar Banerjee [Shanghai] Anurag Basu [Barfi] Sujoy Ghosh [Kahaani] Shoojit Sarkar [Vicky Donor] & Tigmanshu Dhulia [Saheb, Bibi aur Gangster, Pan Singh Tomar] this lot believed that non-formulaic, alternative cinema is a brand whose time has come!  While the unknown Dolly Ahluwalia is convinced that her award proves “that there is a definite demand and appreciation for good cinema”.  Director Shoojit Sarkar is “delightfully stunned” that a film that celebrated sperm donation could actually win such accolades!  Director Dhulia goes a step further to insist “that off-beat cinema is an economic necessity”. He believes that multiplexes in the small metros have played a huge part in getting back the intelligentsia and lovers of good cinema to the halls “because this lot stayed away due to both crappy movies and awful movie theatres!”

Whatever be the case, these awards augur well for this new parallel cinema.  The subjects may not be as raw and rooted in social realities defining the human condition as the earlier wave pioneered by Benegal, Nihalini & gang of the early seventies, but then isn’t change the only constant?  Besides, this is a new generation, rooted in a different milieu with different sensibilities and responding to the times with their very own special vision of reality, pitched to a totally different audience-base, whose only commonality with the earlier generation is an appreciation of anything fresh, different & real.  Each one of these award-winning films [along with several other glorious examples across all regions] has only re-affirmed this fact with passion and purpose. For lovers of this genre what is specially satisfying is that most of the films mentioned also remains financially profitable, making them both artistic and commercial successes.  Veteran Shyam Benegal wraps up the debate as only he can.  He reminds us that the National Awards “were not established to celebrate glamour or success but recognise, popular and honour quality cinema.  These awards – like the films – will always remain niche events focusing on artistic worth not mass-connect.  It must be understood that everything on earth is not – and should not – be targeted for public consumption.  The evolved and informed minority count!”

So, at the end of the day is the National Award – seemingly ignored and forgotten in the blitz of the glamour n’ glitz – finally staging a comeback, responding to the times and its hallowed principles of saluting quality cinema and re-inventing itself to the relevant?  Recognising that good, meaningful cinema [blending art with entertainment; engagement with human insight undistracted by big stars & Rs.100 crore club] is what they are committed to champion, promote and celebrate, without fear or favour?  If year 2013 is any indication [thanks in no small measure to its chairperson Basu Chatterjee and a fine set of cinema-literate jury members], the answer must be a thumping affirmative!  May this be a resurrection of the importance of the nation’s most treasured award relating to good cinema and inspire the movement to propel ahead.

Into the future with confidence!

NATIONAL AWARDS … WITH ZERO REWARDS.

It is savage irony that once the National Award announcements were made, congratulations and laddoos passed around, excitement, flashbulbs, interviews and shabashi from the high n’ mighty done, there was chilling and deafening silence! It appeared to be a surreal and scary scene residing between obscurity and oblivion, with a little bit of stardust flung in between…


Tuesday, June 4, 2013

Book Review: Young titan

The making of a legend

History is rife with people who have been made important because of the thrust of history. There are others, unlucky ones, whose individual achievements got lost in the tsunami of big events. General Erwin Rommel, most certainly a better commander than Field Marshal Bernard Montgomery, had the bad luck of being on the wrong side of history. In fact, World War II had affected many like him. However, if there is one individual whose entire persona has been defined by that War, it is British Prime Minister Winston Churchill.

There have been volumes written on him, but there has hardly been any title outside of pure academia that has tried to explore his personality beyond the realms of World War II. American writer Michael Shelden has tried to bridge that gap. Shelden’s ‘Young Titan: The making of Winston Churchill’ focuses on Churchill’s formative years as a politician and a person.
Before moving further, it should be made clear that Shelden writes primarily for American readership and this book is no different. After all, which Brit will need to be told that Tonypandy is in Wales and Dundee in Scotland. But having said that, this must also be mentioned that the book do  have incidents about the life of Churchill that are not well known even among British readership.

Winston Churchill is one legend who has both mistakes and success written all over him. But in his initial years as a politician, the mistakes he committed were pretty frequent and pronounced. Churchill’s father, Lord Randolph Churchill, was a blue blooded aristocrat who was running out of money, and fast. It did not help Lord Randolph either that he married Jennie, a New York beauty who went on to become Winston’s mother. This was a peculiar era in Britain where American gold-diggers were marrying declining aristocrats in Britain, and under the circumstances, Jennie’s marriage to Lord Rudolph not only scandalized his class, it virtually also finished his political career for good. Lord Rudolph was also not particularly attentive or caring when it came to his family, even by the dismal standards of 19th century British aristocracy. All these had huge impact on Winston in his formative years. The book does manage to bring it out effectively.

However, the most interesting aspect about junior Churchill’s formative years was his initial days in Conservative Party and his later defection to Liberals. Unlike what he turned out during or after the War, Churchill in those days was a deeply polarizing character. Shelden unearths almost equal number of people who thought Churchill was a figure worth promoting and those who thought he was a figure worth ridiculing. Also, across the party line, there were equal number of politicians who thought he was a snob, upstart and threw his weight around, and those who considered him brilliant.

But it is also striking how much rigour one had to put in those times to be able to even qualify as a possible Prime Minister-in-waiting, leave alone Prime Minister itself. Churchill never completed his university degree. However, the hands-on experience gained during his stint at Board of Trade, the Treasury, the Home Office and the Admiralty, gave him enough apprenticeship to be taken seriously. Those were not the days when being a PM at the ago of 40-45 was considered an achievement. The likes of Blair and Brown wouldn’t have possibly passed gates of 10 Downing Street had they been born just a century shy.

But those were also the days when democracy was still maturing. Unruly behavior, sabotage and plain thuggery were widely accepted norms of parliamentary process and young Churchill was not left untouched. He crossed the floor in 1904 and joined the Liberals over the issue of ‘Free Trade’. And then returned in 1925. However, he did not think twice before he quipped, “The only instance of a rat swimming toward a sinking ship,” when a fellow Liberal aspired to fight the election on Conservative ticket.

However, the author also appears to put Churchill off the hook on mistakes that he made. In fact, the author appears too enamored at times to judge the incident impartially. For example, the author fails to mention that his jumping parties were more about being in the right spot at the right time and less about issues per se. After all, the politician who apparently “despised the crude methods of violence as a tool” vehemently defended the British colonialism till his dyeing breath. Incidents like  the Tonypandy miners’ riot or for that matter the Siege of Sidney Street, where he particularly showed penchant for violence as a tool, Shelden absolves him on rather flimsy grounds.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles

Sunday, June 2, 2013

"We will reap benefits in 2014"

When the Samajwadi Party came to power in 2012, the elevation of Akhilesh Yadav as Chief Minister came as a bit of a surprise to most – the vote after all was for his father Mulayam Singh Yadav. Presiding over a State cabinet that has many stalwarts – including some from the family – Akhilesh's debut has been baptism by fire. Law and order has been a sore point in the State and he has been in the firing line for not being able to handle matters smoothly. In an interview with Anil Pandey and Avinash Mishra of TSI, the young CM says developmental projects, and law and order are his two main concerns.

You are the youngest ever Chief Minister in India. How would your rate your experience in the past one year?
When you think deeply, you think some good work has been done, but again, there are doubts. Maybe some things could have been done better. On a balanced note, we have done well. We have taken important decisions, results of which will be evident soon. We inherited a dysfunctional government which was more driven by motives of personal profit than overall gains and welfare of the State. So we had to reverse some of the programmes of the BSP government and that too in quick time. I took oath in March and the budget happened only by July, so we could not spend till then. But despite bad weather and other factors, we conducted a long assembly session.

What were the main challenges in your first year?

The biggest challenge was to fulfill the promises that we had made in our poll manifesto. I can say with confidence that we have achieved them. There are many big challenges ahead. No matter how hard you work and what you do, if law and order of the State is not under your control, then you have to give answers to your people.

You have been accused of not being able to control  the worsening law and order situation in UP. What is your reaction?
The government is worried about law and order and we are taking steps to control it. One bad case can undo all the good work you have done. Crime and law and order are two separate things and we are working to improve systems. Our effort is that cases be registered immediately so that culprits are sent behind bars. We have been successful in a number of cases but unfortunately, we never got the mileage that we should have got from the good work. I believe that the kind of image being portrayed in the media is incorrect. Equally, the behaviour and language of policemen many-a-time embarrasses the government. Old attitudes need to go and this needs to be worked on.

What steps have you taken to bring law and order into place in the State?
Our emphasis is to augment the capacity of the police force as well as modernise it. We are introducing a central GPRS system which will cut down on the police's reaction time. We have started the 'Dial 1090' helpline for women who face harassment.

What have been your main achievements so far?
The biggest achievement of the SP government has been that we have won the confidence of our people. What we had mentioned in the manifesto, we have delivered. But some of our schemes – like the one to distribute laptops to students is path-breaking. A lot of people were cynical about our ability to do that, but we succeeded. The media too has been helpful. Our emphasis is on the social sector; we have spent more than 74 percent of our budget on farmers and poor workers. We have a new industrial policy in place, the mood is becoming investor-friendly and companies from Europe and US are keen to come and invest in UP. We have to take a decision on roads and highways too; no country can develop without proper infrastructure.

UP is in the grip of a severe power crisis. Your comments on this?

Power crisis is a huge challenge for us. We have to take help from other States. UP is not able to produce enough electricity. Power plants in the State need to be overhauled. There are problems with distribution, fake bills, faulty transformers, bad equipment... you name it. We have plans to increase our capacity with the help of a 660 MW power plant. We have introduced non-conventional energy sources in the State too.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Friday, May 31, 2013

The Kuno Conundrum

Yes, yes, I know I had promised to write about my adventures in Gobar Goho’s akhada this week but I can’t help but  interrupt the series and celebrate this… Palpur Kuno is finally going to get its own lions!

After all these years of lobbying and litigation, those at the helm of this leonine resurrection have finally managed to pull it off. I have been doing my bit for the cause, mind you. Putting in a good word here and another one there, and now that it is finally going to happen, I feel that this victory is as much mine as it is theirs.

For a long time now, wildlife activists have been fighting for the cause of establishing a new home for the Asiatic lion. The Gir sanctuary in Gujarat, the last home of the Asiatic lion is bursting at the seams with lions today. There are just far too many of them for their own good in the park. Human-lion conflicts, territorial fights in the overcrowded confines of the sanctuary and the ever-present threat of disease or disaster wiping out the last surviving population of this great predator have made it imperative that a new home be found for the lion.

But for those not in the know, all this euphoria over shifting a few big cats a few hundred kilometers might seem rather misplaced. So let me break it down for you by taking you back to how it all began…

Once upon a time, as recently as the 20th century, three subspecies of lion roamed and ruled the earth. The African lion in sub-Saharan Africa, the Barbary lion in North Africa and the Asiatic lion whose reign extended from Asia Minor and across the heart of India and right up to the plains of Bihar.

The lion in those days was a king indeed. Proud and brave, he strode over thorn and bush and over the great plains and the grassland, his great maned head held high. But alas his pride spelt his doom, for in open country, the lion became easy game for rifle wielding trophy hunters who wiped out the Barbary lion from all over its range in the Atlas mountains.

In Asia, the big cat fared little better. Hunted to extinction across most of his reign, the beginning of the 20th century saw the last dozen or so Asiatic lions cowering in a small pocket in Junagadh. These lions too would have gone the way of the Barbary lion and into extinction if the Nawab of Junagadh, would have had his way when he invited Lord Curzon for a lion shoot.

However, when Lord Curzon realized how critically endangered the lions happened to be, he politely refused to shoot and urged the Nawab to protect the lions. And so, at a time when there were 10 to 25 rupees bounties on wild animals like tigers and lions across most countries and even in India, Junagadh had already begun its march towards conservation.

The years rolled by and now, Gir is home to more than 400 lions. Besides issues of overcrowding, the fact that all these lions have emerged out of a small gene pool of a handful of lions, makes them perhaps a trifle more vulnerable to diseases and epidemics that could wipe out the entire population of Gir lions. For this reason, it would be akin to committing ecological hara-kiri if efforts weren’t made to sprinkle the lion population over different geographical zones.

Wildlife bodies set the ball rolling in the right direction and identified Palpur Kuno in Madhya Pradesh, a habitat that was once part of the Asiatic lion’s range, as the ideal reintroduction site. However, the big cat’s home state, Gujarat, wasn’t so keen on sharing its pride and refused to give up its lions.      

However, just about two days ago, the Supreme Court directed the state of Gujarat to release a few lions for them to be reintroduced into Kuno. This is the first step for the lion in reclaiming its old lands and a much needed shot in the arm for conservationists struggling to protect the lion.

Incidentally, Palpur Kuno, the place ear-marked for the reintroduction of lions has also been shortlisted for a cheetah reintroduction project. The Asiatic cheetah, now found only the desert regions of Iran was once abundant in India. Along with hunting, habitat-loss and loss of prey base, one of the most unique reasons in the history of wildlife extinctions has to be the trapping of wild cheetahs to be trained as hunting assistants in royal hunts. Nawabs and other royalty would keep trained cheetahs in their hunting stables even as recently as the 1940s. One can still find archival films that have captured these hunts. Hooded and carried on bullock carts, these cheetahs would be released near a herd of unsuspecting blackbucks and then a spectacular high-speed chase would ensue, often resulting in the  cat tripping and biting the animal’s neck in an effort to strangle the animal. Meanwhile the nawab’s hunting attendants rush to the fallen buck and dispatch it by slashing its throat with a knife. The cheetah is rewarded for its efforts with chunks of meat from the kill. Unfortunately, these cheetahs did not breed in captivity, and by 1947 India had lost her last cheetah.

Since, the Iranian subspecies is too vulnerable and the African cheetah is genetically identical to the Asiatic subspecies, Laurie Marker, the Jane Goodall of cheetah conservation has suggested that India should reintroduce African cheetahs to restore the world’s fastest land mammal to the Indian landscape. The transfer was supposed to have happened last year but the Honourable Supreme Court of India suspended the project, urging the Ministry of Environment and Forests to first focus on the successful reintroduction of our own Asiatic lions to Kuno.

While I find the idea of seeing cheetahs racing across the plains extremely exciting, not only is the court order ethically pertinent but also environmentally sound. To first introduce cheetahs to a habitat, allowing them to flourish at the very top of the food chain unimpeded by its greatest natural enemy, the lion and then once it has settled in, to suddenly shock them by releasing lions into their territory could potentially destroy both the cheetahs and the reintroduction project.

On the other hand, cheetahs brought in from Africa would know the rules of engagement as far as lions are concerned. When eased into an ecological framework which already has lions in it, the cheetahs would make the transition naturally and co-existence, in the long run, especially with Asiatic lions not familiar with cheetahs, a far greater possibility.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Tuesday, May 28, 2013

An Unfair Takedown!

What is this I hear? Word’s afoot that the IOC (International Olympic Committte) is all set to plant a patent leather boot on wrestling’s proud and broad backside. Just isn’t fair if you ask me. Just as we got so good at field hockey that our dribbling had left both audiences and competition with eyeballs going giddier than pin balls, they changed the game by waving in artificial surfaces. Then they waited long enough for Mary Kom to get a little long in the tooth and slow down a bit before introducing women’s boxing to the games.

For years India’s celebrated wrestlers would beat all-comers in dirt pit matches but without the resources to procure enough wrestling mats, wouldn’t be able to muster enough speed to match opponents on modern mats and lose both pride and points. And just when a new wave Indian pehelwans seem to be on the verge of global domination, the sport of wrestling is being shown the door at the highest sporting platform in the world – the Olympics. Just doesn’t seem fair.

And it isn’t just the land of the Great Gama, Gobar Goho and Sushil Kumar that is crying foul. Of Uzbekistan’s five golds at the Olympics, four were in wrestling. Of Azerbeijan’s six, four went to the big guys in singlets. Even a regional powerhouse like Iran owes 39 of its 60 medals at the games to her pehelwans. And grapplers won the most powerful Olympic nation in history, the United States of America, the highest number of medals in the games after athletics and aquatics.

The ancient Olympics, the games that inspired the modern sporting extravaganza, was basically about foot races, a chariot race, wrestling matches and boxing. The legendary Milo of Croton owes his legends to his Olympic victories in the wrestling pit. To take wrestling out of the Olympics is to take the soul out of the games. If the IOC replaces wrestling with Baseball or Taolu Wushu, they might as well stop calling the games the Olympics (after Olympia in Greece) and start calling it the Mount Rushmore games or the The Great Wall games.

Don’t get me wrong. I’m all for adding new disciplines to the games. New disciplines like sport climbing and karate would be great for both the spirit and the spectacle of the great games. But why drop wrestling, a sport that both in popular culture and ancient art pretty much represents the games? And it is a discipline whose highest honour, its greatest pinnacle, is an Olympic medal. Removing such a discipline from the games would take away the dreams of thousands of young wrestlers from Tehran and Iowa to Baku and Hissar, and turn away thousands more from taking to the mat. And what about the millions of amateur wrestling fans for whom catching Olympic wrestling matches on the tube is highlight of their Olympic experience?
Instead, if the IOC really wants to shock the world and drop a sport that would get noticed, instead of something obscure and little known like Modern Pentathalon, it should perhaps drop soccer from the list.

To begin with, Olympic soccer, with its rather queer format and restrictions, is not even a pale shadow of the real thing. The quality of skills and stars on display wouldn’t match club football, regional tournaments or the World Cup. With its huge infrastructure requirements, soccer almost needs a parallel venue and set up. And last but not the least, Olympic soccer is a very poor reflection of the real world. If we are talking football and you come across rankings where Canada ranks way ahead of Brazil, Germany and the Netherlands, know that we are either at the Olympics or you’ve got that list upside-down.

The Olympic committee says it dropped wrestling from the proposed list for the 2020 games based on ‘apparent popularity’, television ratings, policy against doping and globalised spread of the sport, amongst other things. That, just between you and me, is just plain ridiculous and a whole bunch of words I am not supposed to write. The IOC obviously needs to become a little more transparent and democratic about its means and methods.

The wrestling world, fans, federations and athletes, will react as it best can. But this should also serve as a wake-up call for the sport. Wrestling, given its past and potential could do far more to popularise the sport. It has relied too long on its various derivatives to stay relevant for a large section of people. Pro-wrestling for fans from around the world, folk wrestling for traditionalists and collegiate wrestling for career athletes keeps the heat off amateur wrestling federations and the need to modernize or innovate.

How much cooler would the sport become if they would ditch those singlets which haven’t changed since KD Jadhav stepped out of one and design something which Reebok or Adidas wouldn’t be embarrassed about having their name emblazoned across. And organising tournaments around the world where top seeded wrestlers go up against each other for points and trophies much like in pro-tennis with its ATP points and Grand Slams would really be very exciting. Additionally, this would allow fans to associate with and recognise not just the country but the individual wrestler, his style and method and his personality.

Every sport needs spectator interest, champions and characters to grow and flourish, find fans and become commercially viable, for associations, athletes and sponsors.

Is there more that can be done for wrestling? Of course! The world celebrated the glories of Muhammad Ali, Don Brad man, Roger Federer, Tiger Woods, Fedor Emelianenko and Pele for standing atop their chosen sport with near invincibility for so long. And yet it hasn’t heard of Aleksandr Karlein, a giant on the mat who dominated Greco-Roman wrestling for a decade and a half.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles

Monday, May 27, 2013

In Good Faith

A pilgrim’s progress

On what is a personal journey, a search for a tolerant India, Saba Naqvi, senior journalist, explores the nation’s composite culture that challenges pre-conceived notions of what makes a Muslim or a Hindu.

In Good Faith is a journalist’s account of discovering individuals, communities and places on the periphery of absolute identities culling out a unique space for themselves in an orthodox and exclusivist society.

Taking the readers on a pilgrimage across India, Naqvi does not impose her views like a public intellectual or invoke theories of secularism or communalism so intensely debated by academics and refers to less than half a dozen books only when needed to explain syncretic traditions that have existed for centuries.

Over 190 pages, she narrates 35 stories of shrines visited by Indians, who regardless of their religious persuasion, are in search of miracles. In Good Faith begins with an examination of Patachitra painters, found in West Bengal and Odisha, who identify as both Hindu and Muslim. Similarly the chapter titled The Cry for Hussain that focuses on Andhra Pradesh, explains how Moharram had metamorphosed into something entirely different and is ‘celebrated’ in every village and town in Telengana, Rayalaseema and coastal Andhra Pradesh. Dwelling on how a period of mourning mutated into a joyous celebration, Naqvi cites a Moharram song written by Balaiah, a Telugu folk poet: “Recite in the name of Allah/ Then the Devata will bless you”.

The book explores India’s spiritual landscape even as each chapter stands on its own and takes the reader on a voyage of inter-faith dialogue. Interestingly, though non-Hindus cannot enter the main gold-domed enclosure that houses the principal deity Lord Vishnu known as Sri Ranganathaswamy, the leading Vaishnav temple in Tiruchirapalli has housed ‘Thulukka Nachiyar’, a Muslim consort in the same enclosure. Besides this curious phenomenon, the author explores Nathar Vali, the dargah of a Sufi saint, and the legend of the Velankanni Church in Tamil Nadu, among others.

In Good Faith contains several stories of communities that professes Islam through their customs and dress but have a lifestyle remarkably similar to that of Hindus, for instance Langas and Manganiyars in Rajasthan. Similarly, Meos in Haryana and Rajasthan combine the Islamic nikaah ceremony with a number of Hindu rituals.

Naqvi also tells us about the much-known harassment and intimidation of pilgrims and how extracting donations have been honed into an art whether at Meenakshipuram temple in Madurai or Nizamuddin Auliya Dargah in the capital or elsewhere. “Otherwise non-paying devotees have to make do with a somewhat distant darshan… Big Religion is after all Big Money,” she notes.

No book on Indian culture is complete without a take on Bollywood that reflects as well as moulds Indian life in many ways. The book has a chapter Bollywood Muslims and draws a parallel to African-Americans in the United States.

In Good Faith is a product of influences on the author’s own life – the first being her father veteran journalist Saeed Naqvi who made a small series for state-run Doordarshan titled Mera Bharat, brief fillers on India’s composite culture during late 1980s. The second big influence was JNU’s late Professor Rasheeduddin Khan, an authority on cultural pluralism. Shocked and rattled by the demolition of Babri Masjid in 1992 like many Indians who believed in a secular nation, Saba quit her job from a newsmagazine and set off on a journey to locate traditions that represented some sort of unity as opposed to the divisions that became strident during the 1990s.

What makes the book readable is that it is short and crisp and celebrates those for whom pluralism is an integral fact of life, not a mere fancy fad. “Hindu bigots and Muslim fanatics feed on each other,” says Shakti Nath Jha, who heads an umbrella organisation of Bauls, who sing with their ektara and are often hounded by religious puritans.

The book tells us that religious tolerance is a dialogue that has been going on, silently and inconspicuously, in front of our eyes and within our earshot for centuries and hopes that it provides a strong counter to fundamentalism.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Friday, May 24, 2013

Securing the war criminals

Security heads of US seems to have legacies of war crimes and controversies

Serving his second term, President Barack Obama recently nominated John O. Brennan as the head of the Central Intelligence Agency (CIA) and Chuck Hagel as the new Secretary of Defense. Both these positions are deemed decisive for US security as both work closely with the President on internal and external security issues including war on terrorism. In the past, these positions were held liable and accountable for all security glitches including the infamous 9/11 incident and even for the attacks on foreign soil by American soldiers. Interestingly, many times, the heads of various US security agencies – be it the CIA chief or Secretary of Defense – have been accused of human rights abuse during their tenure. But what is shocking is that despite such allegations, the government has rarely hesitated in promoting such individuals to the highest posts in various security agencies.

The recently appointed CIA chief, John Brennan, was a key officer who was involved in the Bush-era war crimes in conflict zones. He was also a supporter of CIA’s inhuman detention and interrogation program, which was severely criticised by global media and human rights groups. As Deputy National Security Adviser for Homeland Security and Counterterrorism, he executed America’s drone attacks in Afghanistan, Syria and Iraq and is also allegedly involved in other war crimes and extra-judicial killings in these zones, which he undertook the veil of war on terrorism. He has now replaced David Petraeus, a man who again was in the watch list for alleged human rights violations and a series of war crimes. Chuck Hagel, on the other hand, has also been criticised by the Republicans and Zionist groups for his stance on Iraq war and US-Israel relations.

It seems allegations of war crimes have become an integral part of the resumes of security officials for promotions. For the last couple of decades, US Presidents have been ignoring such violations. For instance, Robert McNamara who served as a Secretary of Defense from 1961 to 1968 was accused of being responsible for the deaths of three million people during Vietnam War. Similarly, Secretary of State Henry Kissinger, Secretary of Defense Donald Rumsfeld and many more, have dubious track records when it comes to human rights.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
IIPM’s Management Consulting Arm-Planman Consulting
Professor Arindam Chaudhuri – A Man For The Society….
IIPM: Indian Institute of Planning and Management
IIPM makes business education truly global
Management Guru Arindam Chaudhuri
Rajita Chaudhuri-The New Age Woman

ExecutiveMBA

Thursday, May 23, 2013

Quixotic Fury

Pratham Dwivedi writes on Aseem Trivedi, the man who was on a fast unto death to repeal draconian laws.

Aseem trivediThere are two words in Urdu that simply cannot be translated perfectly in English, no matter what self styled linguists claim. One is called Deewanapan, and the other is Junoon. A poor translation of the two would read as: infatuation and obsession. Whether Aseem Trivedi is infatuated or obsessed with repealing section 66(A) is hard to tell. Many well known cartoonists of India have come on TV talk shows in the past and called him stupid. Some have called him juvenile. Some cynics have even slyly suggested that the young man is seeking his 15 minutes of fame. It says a lot about the massive disconnect between the English media and the real India that the brash youngster has drawn more criticism than admiration. But that is Aseem Trivedi, the self styled Internet cartoonist who wears his emotions and his passions on his sleeves; or on his unkempt beard, you might say. In many ways, Aseem Trivedi represents the subverted aspirations of small town India who see carnivorous parasites belonging to the political, business and intellectual elite gnawing away the innards of the very soul of Indian civilization. You think the language here is way over the top? Well, it is. But for the small town India and its fury that Aseem Trivedi symbolises, it is only over the top that seems to work in this era of 24x7 hyped news. Even Bollywood bimbos like Poonam Pandey and Rakhi Sawant have mastered the art of going over the top. They understand the pysche of the small town Indian. Nuanced reasoning and subtle hints are not for them. Loud is better, and over the top is pretty damn cool. And the underlying message too is loud and clear: to hell with you English medium types and your sniggers.

Recall the narrative when Aseem was picked up by cops from Maharashtra for posting cartoons on the Internet that were deemed offensive and inflammatory. The young man enacted his role of being a revolutionary with elan. He refused to seek bail. The cops didn’t know what to do with him. Forget the cops; even the English media frankly didn’t know what to make of him. He was not Anna Hazare who could be draped in Gandhian colours and elevated as the 21st century version of the Mahatma calling the teeming millions to rise against tyranny and corruption. He was not Anna Hazare, the 21st century version of middle class messiah whose voice has been downed in the din and bustle of electoral and vote bank politics. As the top cartoonists of India suggested, his cartoons too were very poorly drawn and apparently in poor taste. So why was this man adamantly refusing to seek bail? For the English types, the very absence of any nuance or subtlety in the demands raised by Aseem Trivedi were unfathomable. In fact, Trivedi seems to have just one demand: the scrapping of the undoubtedly draconian Section 66(A) of the IT Act. The fact is, the law is in place, midwifed by the UPA regime and Aseem was behind bars. The lower court judge too seemed to go through the torturous motions of dispensing justice. It was a long while before the man was released from prison. No matter how cynical you were, at that point in time, you had to admire his guts. And you had to fall back upon those two Urdu words Deewanapan and Junoon.
Aseem trivedi
Something similar seemed to happen when Aseem Trivedi announced to all and sundry that he will sit on a fast unto death till the Section 66(A) is repealed. Predictably, the news media which carpeted Jantar Mantar with hysterical sound bites when Anna Hazare sat on a fast; and the media that started airing all allegations unleashed by Arvind Kejriwal against the high and mighty as weekly show tried very hard to ignore the man. Well, they could ignore the man. But they could not ignore the issue that he was raising. The arrest of two young girls near Mumbai under Section 66(A) for ostensibly offending public sentiments on Facebook had already created a firestorm across the world. And before India became the land of unfree when it came freedom of expression, the Supreme Court had admitted a petition filed by Trivedi seeking the repeal of Section 66(A). You can ignore a small town hick who seeks his 15 minutes of fame. You can say that his sound and fury is mere posturing. You can say that his passionate patriotism is faux nationalism. You could, well, say that he is over the top. But how do you ignore the Supreme Court? And how do you ignore the crescendo of voices rising across the land calling Section 66(A) a blot on democracy and freedom.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
For More IIPM Info, Visit below mentioned IIPM articles
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
BBA Management Education

Friday, May 10, 2013

And there are reasons to be hopeful

However, while the current 3 trillion yen in monthly asset purchases consists of 1.8 trillion yen in long-dated Japanese Government Bond (JGB) purchases, as well as around 1 trillion yen in short-dated Japanese Treasury bills, with the remainder in other assets (corporate bonds, commercial paper, exchange-traded funds, etc), the new 13 trillion yen in monthly purchases from January 2014 will consist of 2 trillion in JGBs, 10 trillion in Treasury bills, and 1 trillion yen in other assets. This means the bulk of the increase is in short-term government Treasury bills, which roll over quickly, implying that the BoJ’s balance sheet will not increase at a substantial rate, although its assets will still rise faster than under the current programme.

Nevertheless, these three essential moves – a doubling of the inflation target, a lift in the asset purchase programme from January 2014, and an open-ended QE commitment – all signal a significant loosening in monetary conditions, a key pillar of Abe’s new economic policy and an agenda being seriously pursued by the newly elected members of The National Diet.

The motive is clear. Abe wants to break the deflation cycle and a strong yen, both of which have been choking off Japan’s economic growth over the last 15 years. In fact, the two problems are interconnected. Typically when central banks pump liquidity into markets following recessions, businesses and consumers borrow, growth picks up and eventually inflation rises. This is not the case in Japan, where deeply entrenched deflationary expectations and other factors weigh on loan demand. The combination of deflation in Japan and inflation elsewhere pushes up the purchasing power of the yen relative to other currencies. A strong yen in turn weighs on exports, the main driver of growth in the Japanese economy. And that’s exactly what is happening in the Land of the Rising Sun, which has been in recession for most of 2012 (its fifth recession in the last 15 years).

Even the revised estimate of Japan’s third quarter GDP was unchanged at -0.9% q-o-q, against expectations for a modest improvement. The annualised figure too remains unchanged at -3.5%, confirming the economy’s dire state through the second half of 2012. Consequently Tankan Survey (an economic survey of Japanese business issued by the BoJ) shows a sharp deterioration in sentiment through the fourth quarter of 2012. The headline diffusion index for large manufacturers has fallen from -3 in the September quarter to -12 in the December quarter. Confidence among small and medium-sized manufacturers and among non-manufacturers has also fallen. All this clearly reflects an economy that is contracting through 2013


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
For More IIPM Info, Visit below mentioned IIPM articles
 
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
BBA Management Education

Wednesday, May 8, 2013

Has Russia chosen the wrong guy once again?

With inflation cooling down to a post-Soviet record-low of 3.8% and real wage growth improving, some may wonder why is there an expectation of growing opposition to Putin during his upcoming Presidency? His reluctance to implement structural reforms coupled with his refusal to openly tackle rampant corruption in Russia could be contributing factors – but election fraud in the recent elections, surely not

Almost six months ago (on September 24, 2011), while addressing his party’s members at a congress, Russian President Dmitry Medvedev proposed that his predecessor, Vladimir Putin, should stand for the presidency in 2012. Clearly, this wasn’t a bombshell by any quarters; in fact, the announcement was quite expected. But that day, post the announcement, two things were more or less certain – Putin would win the elections and the opposition would protest the results. The definiteness in the above certainties was not because Putin was expected to win the March 2012 Presidential elections through fraudulent practices, but ironically because he was expected to win despite such practices. In other words, Putin’s popularity had held strong at such high levels over the past few years and especially as of recent times, that even international observers had expected quite a reduced form of ballot fraud.

It isn’t that Putin himself wasn’t aware of his massive popularity. His decision to allow the installation of more than 182,000 web cameras at 91,000 odd polling stations and admittance of thousands of independent, international election observers during the March 2012 elections should have convinced even critics that the man was changing. This is not to say that irregularities did not occur – a Chechnya polling station even documented a 107% voter turnout – but Putin’s final overall vote tally of about 64% matches closely with exit polls conducted by multiple agencies (like Public Opinion Foundation and All-Russian Public Opinion Research Centre) that forecasted that Putin would obtain around 58-59% of the polled votes. If at all Putin’s supporters abused the election process, to be fair, it couldn’t have mattered beyond a few handful of percentages in the final tally. And one really would be strongly given to believe that Putin would not have undertaken underhand election practices for such a puny advantage.

It’s abundantly clear that Russians en masse are supporting Putin’s candidature, more for the way he has stabilized the country from the pits it had reached in the 90s Yeltsin era, than for his dictatorial prances. Then why is there an expectation of growing angst in the upcoming Putin presidency? Like we said, election fraud surely can’t be the reason.

And even peddling Russia’s ‘impending economic downfall’ as the reason may, on the face of it, sound quite eccentric – while Russian real wage growth has returned to near double-digits (9% y-o-y in January 2012), inflationary pressures too have cooled down to a post-Soviet record-low of 3.8% in February. With 4.3% y-o-y increase in GDP in 2011, Russia’s economy has broadly even recovered from the global economic crisis. But a deeper look, and some questions around Russia’s remarkable growth, led clearly by ‘black gold’ (oil accounts for nearly 20% of Russia’s GDP, over 66% of its exports and 50% of its government revenues) surely start gaining locus standi.


Source : IIPM Editorial, 2013.
An Initiative of IIPM, Malay Chaudhuri
 
For More IIPM Info, Visit below mentioned IIPM articles
 
2012 : DNA National B-School Survey 2012
Ranked 1st in International Exposure (ahead of all the IIMs)
Ranked 6th Overall

Zee Business Best B-School Survey 2012
Prof. Arindam Chaudhuri’s Session at IMA Indore
IIPM IN FINANCIAL TIMES, UK. FEATURE OF THE WEEK
IIPM strong hold on Placement : 10000 Students Placed in last 5 year
BBA Management Education