Happy Independence Day

[RamaY]

Batori ji,

The loss projection is Rs10,000 crore ($1.5b) not $12b. Not all overdrafts will be bad debts. This is a fair price to pay to get 150m Indians into banking sector, that is a cost or Rs1000 per head... Assuming just 1% of them stand on their own feet with this, that is 1.5m Indians. In comparison it will cost Rs 100,000 crore (10 times more money) investment to create that many (1.5m) permanent jobs {1000cr investment generates 15,000 jobs}.

I like the point that guy made. Rangde gives loans of maximum Rs5,000 and has 92% collection rate. The poor people, when under right leadership pay their loans back.

It is those politicians who asks them to not to pay loans/bills for votes are the problem. Recent examples are CBN, KCR, YSJ/YSR and that AAPTard Krazywal.

[Vamsee]

UB ji,

Its not banks/Insurance companies. It will be Mobile phone companies which will be leveraged big time. We already have near universal mobile penetration and people know how to top up those (essentially money gets converted into minutes) It will be as easy to convert the direction and get paid through mobile phones.
Suddenly not just banks, even neighborhood panshop wala will also become a banker.

Regards,
Vamsee

[Vamsee]

RamaY garu,

I am still not convinced that OD will be offered at this point of time. It was just a trial balloon. When we get to see the fine print my guess is it would not have OD. Just debit card facilities. Once they are into banking, slowly banks will come forward for that.

Let us see.

--Vamsee

[Vamsee]

I would have preferred(hopefully in future) 100,000 Medical insurance rather than life insurance. Because it is medical problems that devastate a poor family.

[RamaY]

I think both will happen eventually.

But it can't become like how they did in AP. They implemented arogyasri but at the same time the alcohol consumption went thru the roof

[shiv]

I would have preferred(hopefully in future) 100,000 Medical insurance rather than life insurance. Because it is medical problems that devastate a poor family.

Vamsee medical insurance ensures that hospitals and doctors act together to maximize profit and minimize care. Medical care is a bottomless pit. We need a completely different paradigm of medical care. But modern Indian doctors are not going to do that very soon - they still have to make up the money they spent on medical education.

[Vayutuvan]

UB ji: my guess why no Vinoba is because Vinoba supported IG and emergency. Thpugh I feel Vinoba is one of the real gandhians if there was ever one.

[UlanBatori]

I wonder under what conditions the 1 lakh insurance kicks in. Is it simply OD protection for the bank and the payee if a Debit Card holder either goes on a spending spree or gets scammed? But then it says it is to cover family catastrophes, so I wonder. Maybe it is mandatory spending on insurance as part of being given a bank account? That as someone said, would be a huge boon to the insurance industry, lots of salesmen/ agents will get at least part-time jobs (and govt. benefits?) A much better way than a simple vote-bank handout. Ultimately I think that's what it is: Started with the question: What do we have for the mango to take home from this speech? We are going to boost Big Bij by hajaar-hajaar-karod, surely we have to trickle down something - should we just distribute the increased tax revenue?

Thinking that way, these are superb moves. Forces grassroots participation, bootstraps the growth and ties Big Bijnej by the bootstraps to the mango.

The speech was silent on Big Bijnej, Black Money, Nukes, Pakis, China, etc. IOW, where the decisions don't need day-to-day participation of the Mango, he works quietly and w/o fanfare.

The message on Manufacturing and Import Substitition was chilling/exciting depending on ur perspective. The message was

Come Build in India. Manfacture in India. Sell Anywhere.

Not "Come Build WalMart in India and Sell Made In China"

Also, I gather that ALL the equal-equal was done in the first few sentences where he thanked the Opposition for the success of the Parliament Session. A long speech when you read it, but really not a single wasted word: every idea was built up in simple words, you knew there was something big coming as he started each. I tried breaking up the whole thing into paragraphs and it's pretty interesting. Some DDM said it was "extempore", but I think it was prepared like a top-notch lawyer's Closing statement. Esp. read how he dumped the Planning Commission. True orators such as the best of Foreign Affairs diplos, are able to speak for an hour without missing a word or point, no notes no Teleprompter. Esp desis such as Ram Madhav. I am always amazed at those.

And built up to the Chai-wallah slam at the Kangrej. Masterful.

[panduranghari]

I would have preferred(hopefully in future) 100,000 Medical insurance rather than life insurance. Because it is medical problems that devastate a poor family.

Vamsee medical insurance ensures that hospitals and doctors act together to maximize profit and minimize care. Medical care is a bottomless pit. We need a completely different paradigm of medical care. But modern Indian doctors are not going to do that very soon - they still have to make up the money they spent on medical education.

+1. When will we integrate modern and traditional medicine for all graduates passing out? Its a crime to not use traditional techiniques

[RamaY]

^

Ayurveda, Unani, Siddha and Homeopathy to be included in AIIMS system: Harsh Vardhan

"Now, every AIIMS centre will have an indigenous medicine department of which Ayurveda will be a major component. AIIMS Rishikesh will take the lead in this as steps are underway to have a 100-bed AYUSH Hospital and land for medicinal herb cultivation facility for standardised production of medicines,"

[panduranghari]

Thanks RamaY ji. It should become a part of the curriculum too. I hope it will. The current healthcare system CANNOT cater too all even if its attempted to be made available all through the country.

[A_Gupta]

A review of the PM's speech and style:
http://blogs.cfr.org/asia/2014/08/18/th ... dis-style/