Indian Economy - News & Discussion 27 May 2012

[Aditya_V]

I really have a bad feeling about this, I think Walmart like the way Chinese dye suppliers played havoc with the Indian economy will destroy our FMCG base and make us import dependant.

Kirana stores dump HUL, Dabur, stock up on US brands

[Virupaksha]

India's Reliance Power Gets $1.1 Billion in Loans from China http://online.wsj.com/article/SB1000142 ... 74806.html

NEW DELHI—Reliance Power Ltd. 532939.BY +3.87%has secured $1.1 billion in financing from three Chinese banks for a power project in central India, the first such endeavor financed by the Chinese in India, people familiar with the matter said.
The loans will be used to refinance part of the 145 billion rupees ($2.6 billion) the company received in financing from banks in India to build a coal-fired power project at Sasan in the central state of Madhya Pradesh, the people said
This is a unique transaction, as we have substituted Indian lenders of the project with Chinese banks to reduce the cost of funding and get better maturities," said Reliance Power Chief Executive Jayarama Prasad Chalasani.The loans, secured last week, are from Bank of China Ltd., 3988.HK +0.70%China Development Bank Corp. and Export-Import Bank of China. The banks didn't respond to requests for comment.Reliance Power is part of a conglomerate controlled by Anil Ambani, one of India's richest men. Mr. Ambani also is the Indian chairman of the Indo-China CEO forum, which was created last year.

it is simply a export subsidy and is explicitly prohibited by WTO.

[Aditya_V]

uote="Jhujar"]India's Reliance Power Gets $1.1 Billion in Loans from China http://online.wsj.com/article/SB1000142 ... 74806.html

NEW DELHI—Reliance Power Ltd. 532939.BY +3.87%has secured $1.1 billion in financing from three Chinese banks for a power project in central India, the first such endeavor financed by the Chinese in India, people familiar with the matter said.
The loans will be used to refinance part of the 145 billion rupees ($2.6 billion) the company received in financing from banks in India to build a coal-fired power project at Sasan in the central state of Madhya Pradesh, the people said
This is a unique transaction, as we have substituted Indian lenders of the project with Chinese banks to reduce the cost of funding and get better maturities," said Reliance Power Chief Executive Jayarama Prasad Chalasani.The loans, secured last week, are from Bank of China Ltd., 3988.HK +0.70%China Development Bank Corp. and Export-Import Bank of China. The banks didn't respond to requests for comment.Reliance Power is part of a conglomerate controlled by Anil Ambani, one of India's richest men. Mr. Ambani also is the Indian chairman of the Indo-China CEO forum, which was created last year. quote]

it is simply a export subsidy and is explicitly prohibited by WTO.

But has been allowed by Indian Babus and Politicos, wow the if you have the connections anything can happen in India

[chandrabhan]

Dear Mods,
Some thoughts on looking long terms for reducing Oil subsidies beyond the Cut. Touching upon the gold import issues & remedies. In case inappropriate, please delete it.

http://www.aryaninvader.com/2012/07/bey ... -fuel.html

[AbhiJ]

I think many parts of the Country still lack Raw Industrialization.

We need 10 Years of Haphazard Industrialization like

First Soviet Five Year Plan


Pig iron: 6.2 million tons (compared to 3.3 million tons in 1928, and a prescribed target of 8.0 million tons)
Steel: 5.9 million tons (compared to 4.0 million tons in 1928, and a prescribed target of 8.3 million tons)
Coal: 64.3 million tons (compared to 35.4 million tons in 1928, and a prescribed target of 68.0 million tons)
Oil: 21.4 million tons (compared to 11.7 million tons in 1928, and a prescribed target of 19.0 million tons)
Electricity: 13.4 billion kWh (compared to 5.0 billion kWh in 1928, and a prescribed target of 17.0 billion kWh)


Setting Targets in bringing India to the World Average ASAP. We will be left behind very much if we keep on lingering with the stupid Services like IT/BPO. There is a need for the entire country to go through the phases which we missed during the steel and combustion engine times. That will bring Mass Literacy Rates to 100% within 20 Years. Fertility Rate will slide very very fast especially in 70% Rural Regions.

Solely concentrate on set targets and on achieving the targets at any give Cost. I know would be kind of a Sacrifice again for the Country which has seen more than enough for the past 200 Years. But this will be every Piece of Worth it.

It could be like:

1) Connecting the Entire Population with Ports with 8 Lane Expressways should be the Number 1 Priority at any given costs.

2) Second, 2012 Budget for Education - 61,427 crore ($11 Billion) - should be Increased by 100% For the Next Year, 50% for the Second Year and 30% for the Third Year and the 20% Thereon. Most of the Budget should be allocated in Primary Education.

Primary Education is Paramount importance for making a Ready Working Population to be Pushed into Factories.

Japan started Industrialization in 1868 and had 100% Literacy Rate by 1900.

3) Steel: India's per capita consumption of steel has gone up by around 25% in the last five years to 57 kg in 2011.

Rest of the World:

India still lags far behind the world average of 214.7 kg and China's average of 459.8 kg. The average is worse when compared with other Asian peers like Japan and South Korea at 506.7 kg and 1,156.6 kg, respectively.

The Asian average stood at 238.8 in 2011. In the EU, it was 310 kg and in Commonwealth of Independent States it was 212.3 kg. Per capita steel consumption was 263 kg in Nafta and 233.9 kg in the Middle East.

Indian per capita steel consumption reaches 57 kgs in 2011

World Average is growing by 1% in today's times. We are still 4 Times less than the World average. Right now Our Steel Production is 72 Million Tonnes(Wiki). To match the World Average We need to Multiply it by 4. So 288 Million Tonnes needed.

ArcelorMittal's $30 Billion Investment and POSCO's $12 Billion Investment Lagging since 2004 would have generated 37 million Tonnes. So $42 Billion Generates - 37 Million Tonnes of Steel Capacity.

216 MT of Steel needed and 37 MT(17%) needs investment of about $42 Billion. We need $250 Billion in the next 4 Years in Steel to bring us at Par with World Average Consumption. Yearly = $62 Billion.

From this Linky, I see Actual Indian Investment in the next 5 Years for Steel $150 Billion adding Capacity of 110 MT.


4) Electricity: Indian Average Electricity Consumption: 778 KwH.- 107 Watts Per Person.

Wiki Sahib tells World Average: 306 Wpp, Panda - 389 Wpp, Khan - 1363 Wpp, Uros - 689 Wpp.

If Bharat wants to touch World Average ASAP Our 200,000 MW Capacity Production has to be 600,000 MW Discounting Increase in Population. And Our Target in Next 5 Years - 1,00,000 MW inducing Investment of $250 Billion. So We need a Trillion Washingtons to Touch World Average.

Panda has 27% Higher Consumption than World Average.

UPA is only trying to Delay with the Socialism BS since 2004. If we count the Opportunity Lost since 2004 It runs into Trillions over the Years!

[vijh]

The loans, secured last week, are from Bank of China Ltd., 3988.HK +0.70%China Development Bank Corp. and Export-Import Bank of China. The banks didn't respond to requests for comment.Reliance Power is part of a conglomerate controlled by Anil Ambani, one of India's richest men. Mr. Ambani also is the Indian chairman of the Indo-China CEO forum, which was created last year.

Sure sign that Chinese equipment is being purchased.

[chandrabhan]

uote="Jhujar"]India's Reliance Power Gets $1.1 Billion in Loans from China http://online.wsj.com/article/SB1000142 ... 74806.html

NEW DELHI—Reliance Power Ltd. 532939.BY +3.87%has secured $1.1 billion in financing from three Chinese banks for a power project in central India, the first such endeavor financed by the Chinese in India, people familiar with the matter said.
The loans will be used to refinance part of the 145 billion rupees ($2.6 billion) the company received in financing from banks in India to build a coal-fired power project at Sasan in the central state of Madhya Pradesh, the people said
This is a unique transaction, as we have substituted Indian lenders of the project with Chinese banks to reduce the cost of funding and get better maturities.... The banks didn't respond to requests for comment.Reliance Power is part of a conglomerate controlled by Anil Ambani, ..........

it is simply a export subsidy and is explicitly prohibited by WTO.

Considering the quality of Chinese power equipments installed at Jhajhar Plant in Haryana (Operating at 40% or closed for long periods), I can't believe Reliance power will go and buy these 4th grade Thermal power equipment. I was speaking to an opposition Politician and he said the equipment is faulty and it was purchased at high invoice value to grease off current disposition. He mentioned the BHEL equipment is far better though costly

[svinayak]

Considering the quality of Chinese power equipments installed at Jhajhar Plant in Haryana (Operating at 40% or closed for long periods), I can't believe Reliance power will go and buy these 4th grade Thermal power equipment. I was speaking to an opposition Politician and he said the equipment is faulty and it was purchased at high invoice value to grease off current disposition. He mentioned the BHEL equipment is far better though costly

They must be using the credit facility provided by the chinese company to make more money!

[Vipul]

Silent revolution in sales tax.

The Union Budget season is over, and it is now the turn of the states’ budgets. State budgets don’t elicit the same excitement, even though the state governments collectively spend more money than the centre. Goa’s budget caused some excitement and grabbed national headlines. Goa’s Finance Minister reduced sales tax on petrol by 11 rupees. That is a steep 16 per cent decline in price. If it is so easy to fight inflation, why is the central government not doing the same? Alas, it is not so easy.

The impact on Goa’s finances due to the petrol tax reduction is a mere 100 crore. Goa will more than make it up by increasing taxes on mining. Illegal mining was a big election issue, so new taxes on mining will be politically feasible. Otherwise it is very difficult for states to decrease taxes and simultaneously meet the deficit.

The state of Maharashtra presented a surplus budget. The revenue surplus is tiny (Rs 1.5 billion) on a spending size of 1.36 trillion rupees. But a positive balance is always impressive. The state receives revenues from mainly three types of sources: (a) devolution from the centre; (b) its own tax efforts; and (c) borrowing from banks and postal savings.

The devolution from central taxes is according to a pre-determined formula given by the Finance Commission. This formula tends to give disproportionately more to backward states like Bihar. For its own tax base, Maharashtra has to depend mainly on sales tax. Income tax, excise and customs duties are prerogative of the centre, whereas sales tax is prerogative of the state. Funds flowing from Planning Commission (the “Plan” funds) are separate and an added bonus for development spending.

In Maharashtra the real hero of the budget has been sales tax. It is nothing short of a silent revolution. This tax revenue has increased at a scorching pace of 30 per cent per annum for the past two years, double the rate of growth of state’s GDP. Tax rates didn’t go up, only collection went up dramatically. It was achieved simply by modernising the sales tax machinery, making all tax returns electronic, and some intelligent sleuthing work which eliminated abuse and loopholes. The process started three years ago under the leadership of the Sales Tax Commissioner Sanjay Bhatia.

Firstly, Bhatia asked everybody to submit only electronic sales tax returns. In the early days, his team helped everyone with net access, forgotten passwords and such hurdles. Secondly, just like all returns (i.e. “forms”) all payments too were made electronic. No cheques , no cash. Here too he met with resistance. Many complained about net-banking. But these were sorted out. Thirdly once all data and payment was electronic, the software was able to reconcile payments and credits. If a dealer was claiming tax credit on behalf of a vendor, but that vendor had made no payment, it was easily detected.

The state sales tax (also called VAT) has interlocking incentives to prevent cheating. About 35,000 cases of cheating (called “hawala”) were caught and are being prosecuted. But most of the six lakh dealers are happy. Sales tax collection will be Rs 55,000 crore this year, making the surplus budget possible. This represents 65 per cent of state’s own tax revenue.

The centre is impressed, and has asked Maharashtra to lead a national pilot project to integrate all taxation – income, excise, sales, customs etc – so as to get a 360 degree view of the taxpayer. Even octroi may be linked through computerisation. Looks like you can run but you can’t hide anymore!

A few years ago the state pioneered video testimony of undertrials greatly reducing their hardship especially of innocents in jail. It also introduced e-payment of all contract workers to eliminate contractor exploitation. Now this silent sales tax miracle. Three cheers!

[Abhijeet]

Is it constitutionally impermissible for states to levy state income tax? Seems like a reasonable, and justifiable, source of additional revenue, with the advantage of being progressive, unlike sales tax.

[Austin]

RBI: Borrowing time

Interview with Yashwant Sinha, former Union Finance Minister

[Prem]

India Trade Gap Shrinks to 15-Month Low .
http://online.wsj.com/article/SB1000142 ... 02104.html

NEW DELHI--India's trade deficit narrowed sharply for a second month in June to its smallest in 15 months, as lower crude oil prices helped bring down the import bill, raising hopes of continued improvement in the country's trade balance.The trade deficit was $10.3 billion during the month, down from $14.4 billion a year earlier.
Exports in June fell 5.5% from a year earlier to $25.1 billion, while imports declined 13.5% to $35.4 billion, Anup Pujari, director-general of foreign trade, said at a press briefing.The data will offer comfort to authorities who have been concerned about the trade gap, which widened sharply over the past year due to heavy imports. That had stoked concerns over a worsening balance-of-payment situation and weighed heavily on the Indian rupee, which has weakened about 10% against the U.S. dollar since April and hit successive record lows in recent months.India's trade deficit widened 56% to $184.9 billion in the last fiscal year ended March 31.
Sonal Varma, an economist at Nomura, said in a research note that the rupee's depreciation is starting to shrink the non-oil import bill and is helping bring down gold imports.As the effects of the rupee's decline plays out, she said she expects the current account deficit to narrow to around 3% of gross domestic product in the fiscal year ending March 2013, from the record high of 4.2% in preceding fiscal year. rade Secretary S.R. Rao said at the briefing the results of the recent government measures will be visible in the next two to three months.The government last month announced a 100 billion rupee package to encourage exports, especially by small enterprises that are usually the worst hit during a demand slowdown.

[AbhiJ]

Why NAC should be funded by Congress, not taxpayers

The proposed recent changes in the constitution of Sonia Gandhi’s National Advisory Council (NAC) – with two members coming in and four going out – give us another opportunity to take a relook at what is essentially a waste of taxpayers’ money.

According to The Indian Express, the two new inductees are Mihir Shah of the Planning Commission{Masters from JNU} and Ashis Mondal of a Bhopal-based NGO. They replace Ram Dayal Munda, who has passed away, and Jean Dreze, who resigned. Three others were not given an extension, and they include MS Swaminathan, Harsh Mander and Madhav Gadgil.

The comings and goings of NAC’s members seem arbitrary. Why were the three shown the door, when the rest of the members retain their perch?

UPA-1 set up NAC with a great flourish but the Council went into a shell after Sonia Gandhi got caught up in the Office-of-Profit controversy. UPA-2, which saw the Congress return to power with a larger number of seats, recreated NAC in 2010 as a kind of special cabinet position for the Congress chairperson.

Between March 2008 and March 2010, NAC did not exist, but the country did not miss it. Nor did Sonia Gandhi’s powers ebb with its demise. So why did we need a NAC-2 after that? As the proverbial fifth wheel of government?

The official purpose of setting up the NAC, according to the Council’s website, is to “provide inputs in the formulation of policy by the government and to provide support to the government in its legislative business.” The special focus area is “social policy and the rights of disadvantaged groups.”

But why should a group that is unelected, and which is not accountable to the government, be giving “support to the government in its legislative business?” Why not get support for free from any civil society group?

On the plus side, the NAC has done a fair amount of work in the pursuit of its objectives, and generated tonnes of draft reports ranging from the Food Security Bill to the Communal and Targeted Violence Bill and the Land Acquisition Bill{All Intention against Indian Interests}, among many others (see here).

That none of them will see the light of day in the form the NAC suggested is another matter, but the question is this: why does one need these reports to be created by people outside the government when all the resources of government and experts are available to ministries and think-tanks like the Planning Commission? Why could the same worthies in NAC not have been used on official panels in social sector projects?

In fact, the movement, if any, seems to the other way round. One of the two members recently nominated to the NAC is Mihir Shah, who is a member of the Planning Commission.

This is interesting, since NAC members have in the past targeted the Planning Commission Deputy Chairman, Montek Singh Ahluwalia, over the official poverty line of Rs 32 a day in urban areas, which suggests that the two think-tanks – the official government one and Sonia Gandhi’s – are sometimes in conflict.

As we noted before, the problem with NAC is that it is not “national” in character, since its membership is picked solely by Sonia Gandhi. It does not have the diversity required to be called a National Advisory Council. It is a political construct intended to given Sonia Gandhi her own sense of influence and formal status over and above the informal power she wields over the entire government.

The right place for the NAC is thus under the Congress party. It should be a private think-tank of the party, paid for from the party’s funds rather than the country’s taxpayers. That’s a Rs 4 crore annual saving. Only in India do we tolerate taxpayer funding of what is essentially a political party’s indulgence.

The next time PM Manmohan Singh meets Sonia Gandhi, maybe he should suggest that the NAC be relocated to the Congress headquarters. There will be no lack of private businessmen willing to fund it.

[tejas]

http://www.firstpost.com/politics/why-u ... 851.html/1

By focusing on 2014 in 2009, and refusing to acknowledge the role of luck in 2004-09 in its economic performance and political rejuvenation, UPA-2 compounded voodoo politics with voodoo economics.

The result is stagflation – which we have called Rahul-flation in the past since voodoo economics has been unleashed by the need to elect him PM in 2014.

But without reforms and the abandonment of voodoo political-economics, UPA-2 is likely to bite the dust.

This is a real gem. There are actually a few journalists in India whose heads aren't stuck up their you know what.

[Muppalla]

Per a Tweet - Compared to 2011 July 6th, India's 2012 July 6th foreign exchange reserve has been reduced by $27,000,000,000.

How true is that?

[Suraj]

RBI holds a basket of currencies. Non-USD based assets are probably depreciating as viewed in USD. They also released dollars in a bid to stem the Rupee exchange rate decline.

[vera_k]

[quote="AbhiJ"]Why NAC should be funded by Congress, not taxpayers

Since tax laws have been used to set the precedent of retrospective amendment to laws, there's always the chance that a future government will declare this body illegal restrospective to its foundation, and go after the now illegally obtained earnings.

[Austin]

Forex reserves fall to $287.62 billion: RBI[/url]

Check the data for previous reserves on the RBI site here: http://www.rbi.org.in/scripts/wssviewde ... n&param1=2

Likely money spent to prop up the Rupee from free fall and any interest commitment by GOI.

[Austin]

Not govt, Crisil puts growth onus on Inc

Mumbai Mumbai, Jul 17 (PTI) The sagging economic growth can be given a boost if the private sector increases its investment as the government is not in a position to increase public spending, given its constraints, says rating agency Crisil.

The private sector, accounting for three-fourths of GDP, will have to script the economic turnaround by reviving investments and raising its contribution to overall growth, Crisil said in its report 'Why is it critical to revive the private sector?'

The agency notes that in the two decades since 1990, the share of the public sector in GDP growth remained stagnant at 6 percent, whereas private sector GDP growth went up to 7.7 percent in the 2000s from 5.7 percent in the previous decade.

"The private sector's performance during the high growth phase from 2004-05 to 2007-08 was even more impressive, as it logged 9.7 percent GDP growth per year.

Private corporate investments, too, had surged to 17.3 percent of GDP from 10.3 percent of GDP during this period," Crisil said.

During the global financial crisis, investment by the private corporate sector slumped to 11.3 percent of GDP in the crisis year 2008-09 from 17.3 percent in the preceding year, it added.

"If India came out largely unscathed from the effects of the financial crisis, it was mainly due to the impetus from the public sector. During 2008-09 to 2009-10, private sector GDP growth had slipped sharply to 6 percent from its pre-crisis levels of 9.7 percent per year.

"Without a robust 12.3 percent growth in public sector GDP on the back of increased government spending, overall GDP growth would have averaged 6.2 percent and not 7.6 percent during these two years," Crisil chief economist Dharmakirti Joshi said. However, the agency believes that if the current economic downturn continues, the public sector will be unable to perform a similar rescue act.

The government can enable a revival by pushing through the next level of economic reforms and removing policy bottle necks. This is all the more imperative because, unlike during the 2008 crisis, the public sector is not in a position to provide an impetus to growth due to the government's fiscal constraints, it noted.

"The weak fiscal position of the government constrains it from raising public sector GDP through increased spending.

This is evident from the decline in public sector GDP growth to 6.5 percent in 2010-11 from 14.5 percent in the previous year.

"Consequently, the sustainable upside to growth will be largely shaped by the revival of private sector sentiment and investments," Crisil Managing Director & Chief Executive Roopa Kudva said.

The agency believes that the government will have to play the role of an enabler through measures such as removal of policy logjams, speeding up project clearances, and adding a fresh dose of economic reforms, to spur private sector investment.

[Austin]

PM to hold meeting on food security bill today

The PM is slated to hold a high-level meeting on Wednesday on the National Food Security bill, hoping to decide on a revised version that would be simpler to administer for the government and easier to sell as a political achievement for his party, the Congress.

A middle-ground formulation, which provides 25 kg of foodgrains to 70% of the population without the controversial classification of priority and general categorization (along the lines of above and below poverty line identifications) of people, has found favour in some quarters within the government, and is likely to be discussed on Wednesday.

[Austin]

So is it 25 kg per family or 25 kg per person in a family per month ? I suppose the former will be very low.

[Singha]

http://world.time.com/2012/07/17/why-th ... picks=true

apparently a type of bean grown in rajasthan is essential to the oil industry of fracking...

[Aditya_V]

http://world.time.com/2012/07/17/why-th ... picks=true

apparently a type of bean grown in rajasthan is essential to the oil industry of fracking...

That bean looks like what in Tamil is called Kothavarunga used as vegetable and sometimes even dried and fried. Didn't know it had so much value.

[Singha]

but I guess its a matter of time before someone like bayer or basf or dupont develops a synthetic substitute that is cheaper and can be mass produced....I wouldnt call it a sustainable cash cow. even synthetic rubber was created when the need arose.

[pentaiah]

It is called Goru chikkudu in telugu, and it is used make kootu and also different kinds of vegetable curry (koora).

Also remember that most of the beverages and junk foods use Gum

Guar Gum - a carbohydrate consisting of mannose and galactose at a 2:1 ratio that can swell in cold water. Guar gum is one of the most highly efficient water-thickening agents available to the food industry. It has a high percentage of soluble dietary fiber (80 to 85%) and is often added to bread to increase its soluble dietary fiber content. Guar gum is commonly used to thicken and stabilize dressings and sauces and help improve moisture retention in finished baked goods.

also read

http://en.wikipedia.org/wiki/Guar_gum

[Theo_Fidel]

Texas has started growing it now. I wish we supplied the chemicals/technology involved. Now that would be the killer app.

[AbhiJ]

'India's Food Bill can set example for rest of world'

India's proposed National Food Security Bill has the potential to become a benchmark for the rest of the world to follow, the NGO Oxfam India and UK-based Institute of Development Studies (IDS) has said.

Oxfam - Oxfam India’s program is focused on seven States – Assam, Bihar, Chattisgarh, Jharkhand, Orissa, Uttar Pradesh and Uttarakhand – and four social groups – Dalits, tribals, Muslims, and women.


India’s Food Security Bill has potential to provide a benchmark for the rest of the world to follow

The IDS Bulletin is being launched at a conference in Delhi on 17–18 July

Professor Lawrence Haddad, IDS Director and lead editor of the IDS Bulletin said:

'India is a unique nutrition case study – despite enormous growth in economic and political power, 46% of Indian children are malnourished. There is real frustration in India as to why this is and this new IDS Bulletin will shed light on this complex issue.

Persons involved in the Book

Overview. Standing on the Threshold: Food Justice in India
Lawrence Haddad, C.P. Chandrasekhar and Biraj Swain

Hunger and Malnutrition in India
N.C. Saxena

Food from the Courts: The Indian Experience
Harsh Mander

UNGRY FOR JUSTICE

Elimination of Identity-based Discrimination in Food and Nutrition Programmes in India
Rajendra P. Mamgain and G. Dilip Diwakar

Who do ICDS and PDS Exclude and What Can be Done to Change This?
Biraj Swain and M. Kumaran

Priority Changes for Strengthening Women's Role as Producers, Processors and Providers of Food and Nutrition
Amita Shah

How Best to Ensure Adivasis' Land, Forest and Mineral Rights?
Felix Padel

Food and Nutrition Justice: How to Make it More Newsworthy?
Paranjoy Guha Thakurta and Subi Chaturvedi

Who Attended the Launch?

This special bulletin is introduced by Prof Olivier De Schutter, the United Nations’ Special Rapporteur on the Right to Food. The editors of the special bulletin are Prof Lawrence Haddad, Director, IDS-Sussex, Prof CP Chandrasekhar, leading macroeconomist and professor, Jawaharlal Nehru University and Ms Biraj Swain, lead of the Food Justice Campaign for Oxfam India.

Kundli of Every Jholwala:

Lawrence Haddad - The above Gora.

C.P. Chandrasekhar - JNU Professor

Biraj Swain - Gora Partner of the First.

N.C. Saxena - Sits in NAC

Harsh Mander - Another NAC Chap but with Solid History to be worthy of it.
Wiki

Harsh Mander is a signatory to the campaign to save Afzal Guru, the man convicted for the 2001 Indian Parliament attack.[5] He also supports the demand for removal of the Armed Forces (Special Powers) Act, 1958 from Indian states of Jammu and Kashmir and North-eastern states.[6] He's also the convener of the drafting committee for the Communal Violence (Prevention) bill [7] which faced opposition from various segments of Indian society for being allegedly anti-majority.

Rajendra P. Mamgain -He has a doctoral degree in Economics from Jawaharlal Nehru University

G. Dilip Diwakar - Ek Aur JNU

Felix Padel - Interesting Personality. Charles Darwin’s great-great-grandson with Education from Delhi School of Economics deeply interested in Tribals of Orissa.

Swarna S. Vepa - PHD Delhi School of Economics

Another Jhol Catch:

Official Website of First Gora Lawrence Haddad -

Yesterday's Article: Why isn’t there more political commitment in India for dealing with hunger and malnutrition?

By Yogendra Yadav Former NAC Member

The nexus between NAC, Foreign NGOs and Media is too strong. All Moles are filled by Jholwalas of Pre-1991 Times.

[Yayavar]

http://world.time.com/2012/07/17/why-th ... picks=true

apparently a type of bean grown in rajasthan is essential to the oil industry of fracking...

Interesting. We often had it as a vegetable. Didnt realise the 'guar' gum is from our desi 'gwar-phail'. Even in khan-desh one can get it in Indian stores sometimes.

[Altair]

The nexus between NAC, Foreign NGOs and Media is too strong. All Moles are filled by Jholwalas of Pre-1991 Times.

If you or anyone wants to become a radical nationalists or end up in a hospital with high BPs, dig for NAC patrons.

[vina]

Long long ago, when a certain "Super Comprehension" man used to post, there was a discussion on the Oil &Gas policies and particularly Reliance etc. There I had argued, that the govt's entire revenue share and rate of return based sharing were un precedented, flawed and not in vogue anywhere and goes fundamentally against a straight simple principle of sharing revenue from the field. Super Comprehension threw jargon like "Profit Petroleum" , that is a different story.

Clearly, this entire snafus in pricing (in everything) and the resultant economic logjams are a clear indication of the command economy based on Babu price fixing and not via market mechanisms is simply not working. The Babu (Boboon?) King Canute like waving back the seas has seen it's limits and is not working anymore and is just like always imposing serious costs on the economy. A good write up on First post

Reliance Oil-Ministry war has pointers for crony capitalism

[Aditya_V]

This is very sad, problems are there but Burning people.

Maruti plant violence: Charred body identified as GM-HR

The haryana Govt better make sure that section of workers gets punished and sort out the issue or I see Maruti shifting its factory.

[vera_k]

Even at the Central level, there is a lot of confusion in the government on how to deal with recalcitrant employees (witness Air India strike). Hopefully Japan will ask the state government to provide armed protection for the plant.

[Katare]

Gaur gum is a big business for textile and petro industry for decades. I know a certain Merchant family from Gujrat/Mumbai that is known as "Gaur King" in textile industry. The criketor Vijay Marchant is from that very same family. Synthetic subsitude for Gaur are available but gaur is preffered because of it's low cost, food grade and "green" tag.

[abhishek_sharma]

[sanjaykumar]

There is almost 40% range for the deficiency category making these data almost useless. Rainfall of 20 % deficiency means something very different from 59% deficient rainfall.

[Theo_Fidel]

Yes, the drought was clear 30+ days ago, but gov't has done nothing....

Karnatak is 50% deficit. Most areas are in fact over 80%-90% deficit. The odd thing is rains in TN delta have been good and farmers a planting, even though there is zero water in Kaveri.

The places I worry about are Mumbai/Bengluru/Keral/etc. Esp. Mumbai is completely unprepared for rain failure. To give you an idea. Chennai lives on about 700 million liters of water per day. Mumbai consumes well over 4000 million liters! No one wants to live on as little water as Chennai does but folks need to prepare for that eventuality.

[Rupesh]

^^^
saar its raining like hell in Mumbai. Problem is in other parts of Maharashtra

[Theo_Fidel]

.... which is where Mumbai gets its water from right! It's raining on the coast and not in hills. All our water comes from hills.

[Shalav]

And Mumbai is an island with hills. It's not connected to the rest of Maharashtra as far as rain goes. You sure you live in Mumbai?

[Austin]

Yah its raining in Mumbai but the rains this year are certainly lower that what we would normally see , not the usual consistent rainfall but minutes some times an hour of heavy down pour then stop.

What matters to Mumbai is if the catchment areas / lakes where we receive water from gets proper rains , there is already 10 % water cut in the city till end of July.

Warning bells are already on from BMC Mumbai faces serious water shortage