Monday, 20 November 2017

Traffic rules jumping is crazy and immoral

  • Traffic violation has little to do with being in a hurry. 
  • It’s about the opportunity to leave the fellow traveler behind.
  • While traffic rules can be altered arbitrarily, moral and juridical rules which are constitutive and cannot be arbitrarily replaced by another set. 
  • Traffic restrictions are regulated. While morality underpins these rules, it also frames them.
  • How we drive is how we are driven. 
  • Jumping lights is a feature of daily life. It is dangerous and very often fatal for either the violator or the innocent passerby or both.
  • If everyone crashed lights, there would be chaos. 
  • With increasing lying, the difference between truth and falsity is not abandoned, but actually sharpened. We do not abandon truth, but look more carefully for it.
  • Non-functioning traffic lights tempts people to take unilateral decisions when co-operative action is most called for. This is legitimising jumping lights when they do work.
  • Crashing lights also alters our character. We infect each other until the malady becomes an epidemic. 
  • We think little of rule-breaking, especially when no one is looking. Motorbikes and cars line up obediently at crossings only when policeman is present. The violator is aware of what he is doing. 
  • For most people, practical reason is a means to achieve immediate goals, whatever they may be. In the case of the signal light crasher, the goal is simply getting across quickly.
  • Slowing down the speedster includes strategies like timers on lights which show the duration of the impending wait.
  • At traffic lights you only have to get the first few vehicles to stop to stop the others per force.
  • The assumption that light-crashers are in a hurry is questionable. It is not the real reason for jumping lights (fallacy of pro causa non causa). 
  • Those who jump lights appear to be in a hurry, but are in no more haste than everybody else, and not more likely to get anywhere faster. 
  • The reason why people jump lights is that they don't know the reason themselves.
  • It is not the hurry to get across that best describes such misconduct, but the opportunity to leave fellow travellers behind.
  • This is what lures the criminal to make his dash. His motive is simply to get the better of others. It’s a kind of cheating, not because it makes them richer, but because it enables them to steal a march over otheers. 
  • This way of accomplishing something is potentially dangerous. It is this that often makes the rider throw caution to the winds to seize the day.
  • No arguments will be effective against such behaviour. 
  • Suicidal behaviour is neither the privilege of fanatics nor fundamentalists. 
  • This is one area where no one could rightly complain and the police seem least active. This makes one wonder if law and order are really a priority.

Dando damyatam asmi ... Lord Krishna

Violating traffic rules is an act of craziness that exposes all around fatalities which has nothing to gain and everything to lose. This fundamentally arises out of superiority complex. Stringent penalties will surely act as deterrent. But the chances of getting caught and/or fined must be 80% or more. More than all these, ethical education during childhood years will be helpful. Adhering to traffic rules even when no one is around will help retaining safety habits and minimises risk of accidents.

Saturday, 18 November 2017

Implications of Moody's ratings upgrade for India


  • Moody's upgrading India's ratings from 'Baa3' to 'Baa2' two days ago - even though a notch up but still remains in 'Investment grade-Moderate credit risk' band only. The rating outlook was only changed to 'positive' from 'stable'.
  • However, Moody’s have put out a caveat that they will watch out for any deterioration of the fiscal situation or banking system. 
  • S&P has stated that it will continue to keep India's rating unchanged.
  • The only jubilation for BJP is that Manmohan Singh tried but couldn't get it. And Modi tried and failed in 2016, but could get it citing demonetisation and GST roll out as reforms now in 2017.
  • India’s last upgrade by Moody’s was 13 years ago in 2004 to 'Baa3' from 'Ba1'. 
  • From Jan, 1988 India had a credit rating of A-2, the highest investment grade rating it ever got. But on Oct, 1990, it was downgraded to Baa1 in the wake of India’s twin crisis of worsening balance of payments and fiscal indiscipline. On Mar, 1991, it was further downgraded two notches to Baa3, which was the last category of investment grade rating. On Jun, 1991, India plunged into the non-investment category at Ba2, a downgrade of two notches. From Jun, 1998 (in the aftermath of India’s nuclear tests in Pokhran) India remained classified in the non-investment or ‘junk’ category 'Ba2'. 
  • In the last 13 years, investment flows from abroad have seen a steady rise and Indian companies have been borrowing more from overseas markets, though the terms of these loans could have been better with a higher rating from Moody’s. Nevertheless, a rating of Baa3 has really not come in the way of either more foreign investment or higher foreign borrowing. 
  • On the back drop of botched demonetisation and badly implemented GST, Moody’s upgrade found it reassuring that the economic outlook is better now, thus puncturing the domestic narrative. But ground reality remains same that economy is in shambles and much needed to be done for its revival.
  • Economic decisions should be analysed only from an economic point of view only. Seen through the colour of political ideologies, all kinds of biases creep in.
  • For corporates, who are leveraged and have overseas borrowing, it will lower cost of borrowings. 
  • The increased flow of foreign exchange into the country is likely to see appreciation of INR, which is already overvalued and impacts already stressed exports and surge in imports that might not augur well for current account deficit that has already widened to over 2% GDP.
  • The combined fiscal deficit of states and the Centre is still in control at 6.4% of GDP in 2016-17 that gave the Moody’s some confidence in India’s ability to stay on the path of fiscal consolidation.
  • If the health of the banking system does not improve in the next year or two, the risks of a downgrade may lurk once again.
  • If oil prices rise and the government is not able to manage their consequences in the domestic economy properly, then the newly acquired rating could be subjected to a review.
  • Moody’s has noted that the combined debt of the governments has risen to 68% of GDP, which is significantly higher than the median rate of 44% for all countries classified under the Baa group. While there are many other positive countervailing factors in India’s case, but further growth in debt can be a cause for concern.
  • If elections could be won with the help of good economic news from international agencies, leaders of the BJP should consider themselves fortunate but elections are hardly won on external certifications.

Moody's upgrading India rating with a caveat and S&P maintaining status quo clearly indicates that Moody's had succumbed to intense lobbying by Modi & Co and hence this upgrading speaks out nothing and reaffirms domestic narrative that Indian economy is in shambles following botched demonetisation and badly rolled out GST. Now we can see Modi & BJP bombarding nation with high pitch campaigns that our economy is booming and targeting Congress with choicest abuses. Moody's decision of politics hurts its integrity and its ratings will be of no use going forward.

Why GST was rolled out hurriedly?

  • Immediately after botched demonetisation, the fact that they introduced the GST in such a hurry shows that the government is much more interested in actually presenting their macho image of someone who is capable of doing fantastic things rather than really thought out measures. 
  • With an eye on Gujarat elections & next general elections, rulers have resorted to wildest & reckless gamble on Indian economy. Otherwise they would have nothing to publicise during these elections with almost all failed schemes. Insanity is defined as doubling the speed while in wrong direction. 
  • Things like the economy must not be mucked around with just like that, in order to create impressions, in order to display ones attitudes.
  • The poorest in the country have suffered the most from this demonetisation.
  • The point is that GST is something that has affected the informal sector very badly.
  • In the economy now, the government is dealing blow after blow to the informal sector. 
  • They have this wrong idea that formalisation of the economy per se is a very good thing. Now if the economy got formalised on its own, through its own development, that’s one thing. But if you actually forcibly get the economy to be formalised, that basically occurs by dealing [a blow] to the informal sector. Now that is what is wrong, because those who are affected by it, there’s no cushion for them, they are not going to get jobs anywhere else. As a result, they just go under.
  • Now, there are many things government can do to reverse some of these negative impacts on informal sector. The first thing that they can do is to complete remonetisation and make sure that the cash shortage is overcome. Provide help to the informal sector - provide remunerative prices to the growers of cash crops who are facing crisis; provide low-interest loans to the growers of the cash crops and so on.
  • Before the neoliberal policies got going, the state aided the petty production sector in many ways to survive by giving assured prices, through giving subsidies, through protecting them from world market price fluctuations and so on. All those cushions have been removed, as a result this is a sector that is now being buffeted around by the so called market forces, which basically means being encroached upon by the large capital, the formal sector. Providing them succour by protecting them against such encroachments is the way to revive them and through that, the economy itself.
  • Modi & Jaitley have been making a number of statements about failed demonetisation which are quite worrying, because it is impossible to believe a responsible public functionaries should be using such utterly specious arguments. The fact of the matter is that with Indian experience, no country in the world will ever resort to demonetisation in next 100 years.
  • Venuzelean dictator emulated Modi's demonetisation but was wise enough to suspend with in few days due to public outcry, where as our Modi is much more thick skinned. He doesn't care when poor people dies.

In demonetisation, everything done was wrong.
In GST, nothing was done right


Modi unveiling quack advised and secretly planned ill prepared demonetisation on the nation effecting each and every one and destroying whole economy is unbelievable. Dealing with black money, corruption, terrorism and fake currency has nothing to do with demonetisation, which this buffoon thinks otherwise even now. Such a person is unfit to be at the helm of affairs of the nation even for a minute. Shamelessly he continues till public decides to over throw him.

On other hand Jaitley, FM talks about bringing informal sector into formal economy, by brute force in the name of GST, not knowing that the informal sector units neither have that much of awareness, nor adequate capital nor  sufficient margins to comply with formal sector requirements and would simply thrown out of business. Lacking this much knowledge he is unfit to be FM of the nation. Again shamelessly he hangs on to his seat of power and ultimately public will dump him trash bin.


Friday, 17 November 2017

Public policy implemetation

Conservatives are always scary about the increase in the size and scope of government. If the pitfalls and costs of implementation were properly understood, many policies would not be authorized, no matter how well intentioned. Recognize that central programs must be implemented locally. Implementation costs money and money is especially important politically when tax payers are in revolt.

Conservatives distrust governmental authority and wish to minimize the scope and cost of governmental activities. They are inherently suspicious of governmental bureaucracy. Liberals propose public policy solutions to a wide range of social problems, often ignoring the questions of the feasibility of implementation. Keep the government's hands off. Let the local level control and implement policy wherever feasible. Minimize and localize the activities of government and the scope of public policy. A policy may face unforeseen problems and must come with enough flexibility to allow government to change the course.

This is how governmental programs should be put into effect: 
  1. When in doubt, stay out.
  2. If something must be done, understand the behavioral dynamics and change the rules of the game without spending money.
  3. Hire a private contractor and do not try to produce the good or service directly through government. 
  4. When government must finance something, make sure that the money goes directly to the beneficiaries, not through indirect channels.
  5. If government must finance and administer, competition must be permitted as a yardstick to gauge success and cost.
  6. When government must obtain resources, it should purchase them in markets.
  7. When government produces a good or service, it should, when possible, charge the users a pro rated cost, not give away the good or service free of charge.
  8. Only as a last resort, when all the above has failed, should government finance, administer, and deliver the good or service free of charge.
Increased governance stresses the cost of government. And taxes depress other forms of spending, such as consumption and investment. A public policy will necessarily spend money, and money is central to this subject. 


Any policy is as good as it is administered



Authoritarian regime of Modi believes in majoritarianism and not secular at all. Ambedkar has rightly described as 'democracy in India is only a top-dressing on an Indian soil, which is essentially undemocratic'. Opaqueness in administration is increasing and none of the principles of democracy are being followed by Modi regime and institutions are getting reduced to nothing. None of the above rules are being followed in public policy administration. Whims are in the forefront.

World Press Freedom Index


 

  • The Index ranks 180 countries according to the level of freedom available to journalists. It is a snapshot of the media freedom situation based on an evaluation of pluralism, independence of the media, quality of legislative framework and safety of journalists in each country. 
  • It is not an indicator of the quality of journalism in each country.
  • India is ranked 136 in the World Press Freedom Index, in May 2017, three points down from last year.
  • Norway is at the apex and North Korea at the bottom of the 180-strong list of nations.
  • 21 countries are classified as VERY BAD; 51 countries are classified as BAD.
  • Situation has worsened in nearly two thirds [62.2%] of the 180 countries in the Index.
  • India has gone down from last year’s 133 rank. The report blames the rise of Hindu nationalism for the drop in ranking. Self-censorship is growing in the mainstream media.
  • Journalists are increasingly the targets of online smear campaigns by the most radical nationalists, who vilify them and even threaten physical reprisals.
  • It is increasingly difficult for journalists to report from sensitive zones such as Kashmir, where internet connectivity is often snapped during conflicts and reporters are targets of violence from both ends.

Moody's upgrades India's rating

  • International rating agency Moody's has upgraded India's local and foreign currency issuer ratings to Baa2 from Baa3 and changed the outlook on the rating to stable from positive. 
  • The rating agency has cited+ the government's implementation of its reform programme which includes introduction of the GST, Aadhaar system of biometric accounts and direct benefit transfer schemes and measures taken to address bad loans in the banking system.
  • The rating upgrade comes after a gap of 13 years - Moody's had last upgraded India's rating to 'Baa3' in 2004 during Vajpayee led NDA-regime.
  • The rating upgrade will reduce cost of international borrowing for Indian government and Indian corporates due to reduction in perceived credit risk. 
  • The move will also improve the sentiment in the equity markets.
  • These reforms implemented to date will advance the government's objective of improving the business climate, enhancing productivity, stimulating foreign and domestic investment, and fostering strong and sustainable growth and improve its global competitiveness. The rating agency Moody's believes.
  • Some investors termed it a surprise given that India recently surrendered its status as the world’s fastest-growing major economy amid sweeping policy changes. 
  • The upgrade could prove to be a big win for the ruling party, which is facing increasing attacks about the economic slowdown before key elections in Modi’s home state next month and a national vote early 2019. There are several challenges for the economy, particularly a high debt burden and delayed labor and land acquisition reforms and little room for fiscal complacency, especially ahead of 2019 elections.


In Dec 2016 India's request for ratings upgrade was bluntly turned down by Moody's citing high debt burden, its low debt affordability and resolution of banking sector's bad loan problems. Moody's also stated that a ratings upgrade for India was some years away, depending on the progress on reforms. Between Dec 2016 and today (Nov 2017) ground situation has actually worsened but some reforms are under implementation and results are yet to be seen. Why Moody's hurriedly announced ratings upgrade is unknown. Today, India is facing plethora of problems due to reckless adventures by Modi impacting and destroying informal sector and agriculture sector which together contributes 45% of GDP and 80% of jobs. Improvement in economy prior to 2019 general elections is unlikely due to lack of fiscal space. Direct benefits of this ratings upgrade are confined to corporates and businesses immediately and trickle down benefits would reach common man after a while, in insignificant proportions.

Tuesday, 14 November 2017

Justice K. Chandru, an iconoclastic High Court judge


  • Justice Krishnaswami Chandru, was a additional judge & permanent judge of the Madras High Court for the sevens years between July 31, 2006 and March 8, 2013. 
  • On the day of his swearing November 9, 2009, he created a flutter by submitting his assets and liabilities in a sealed cover to Chief Justice H. N. Gokhale. Think of judicial accountability, think Justice Chandru.
  • On June 9, 2010, at court hall number 24 of the Madras High Court, Chandru delivered 75 verdicts. As in charge of appeal suits, Chandru has asked the staff to list at least 100 cases daily. In April, 2010, he pronounced 1,780 judgments. The average tally of this judge: 1,500 verdicts a month. No other judge even crossed half of this mark. 
  • During his tenure at the Madras High Court, Justice Chandru disposed nearly 96,000 cases and was popular as a “People’s Judge”.
  • Chennai is free of hoardings and digital boards on the roadside, it is because of the order of the division bench comprising Justice Chandru. 
  • As an editorial team member of Lawyers Collective, a legal journal from Mumbai, he wrote extensively about the irregularities committed by Supreme Court Judge Ramasamy while the latter was the Chief Justice of the Chandigarh High Court. It was after this that the movement for impeachment of Ramasamy started. Chandru spearheaded it along with noted advocate Indira Jaisingh.
  • In India and elsewhere, when a High Court Judge retires, it is usual for all the judges of the High Court would to assemble a meeting in the Court of the Chief justice and the Advocate General would deliver a farewell speech followed by a photo session, high tea and dinner in a five-star hotel. 
  • Justice K. Chandru, in a letter to the acting chief justice R K Agrawal, dated February 8, 2013, requested him not to order the farewell ritual for him as he would like to leave office quietly.
  • The last time a judge declined a farewell function was in 1929, when Justice Jackson told the Advocate General, “I have done my job; where is the question of a farewell for me?”
  • On Fri, Mar 8, 2013, the last day in office for Justice Chandru, first he surrendered his official car. Then he submitted a copy of his ‘voluntary declaration of assets’ to acting Chief Justice R K Agrawal. After returning to his chambers, he signed a few documents. From there he went to the press room and spent a few happy moments with the journalists who had assembled there,  answering their queries. After leaving the court premises, he walked up to Sangeetha Restaurant across NSC Bose Road. A group of friends was waiting there, and he had coffee with them. From there he walked up to the Beach Station and boarded a suburban MRTS train bound for Velacherry.
  • Known for his simplicity, he shunned some of the accoutrements that usually accompanied a Judge. He disliked pomp and pageantry. He was a role model for others.
  • He dispensed with the practice of his duffedar carrying a mace while escorting him to the court and returning to his chamber.
  • He did not have a gun-toting personal security officer (PSO) beside him. 
  • He did not have official servants at home.
  • He did not approve lawyers calling him “my lord”.
  • He did not accept any post retirement jobs at Tribunals, Commissions etc.
  • Post retirement ... I sit in this office that I have rented out for myself and do some consultancy for lawyers who want help. Other than that, I write in newspapers and magazines. One of my retirement plans was to take part in public debates. I write articles on a variety of cases including a series of peculiar cases that come to court. I also write for women’s fortnightly magazines. I deliver lectures in colleges like IIT Madras regarding law and social issues. That’s how I keep myself occupied.

    • A notice displayed at the entrance to his chamber declared:
      “No deities – no Flowers
      No one is hungry – no Fruits
      No one is shivering—no Shawls
      We need only best wishes”