Wednesday, 29 November 2017

Banks NPAs & Recapitalisation

  Banks NPA's & NPA Ratios in June 2017

  • As in June 2017, Banks NPAs are Rs.829,338 crores and NPA ratio is any where up to 24%. As on date  NPAs are in excess of  Rs.11,00,000 crores.
  • Steadying a tottering financial system is never a graceful exercise, as American and European authorities discovered after the financial crisis. Without reform, another recapitalization is meaningless.
  • The recently announced Rs.211,000 crores Banks Recapitalisation by central govt has three components:
    (i)   Budgetary support Rs.18,000 crores only.
    (ii)  PSU banks will need to go raise Rs. 58,000 crore from the market.
    Who will buy? May be cash rich public sector industries will be coerced to buy them. 
    (iii) The government will issue “Bank Recapitalization Bonds” for Rs. 1,35,000 crore which will be used to buy more shares in public sector banks. But these have to bought by the banks themselves. 
    All these bonds have to be paid back in the future along with the interest by the central government. In effect, nation's future money is being pumped into today's banks recapitalisation.
  • Effectively all 21 ailing banks will get additional cash of Rs.76,000 crores only, in next two years.
  • Despite the roundabout method of recapitalisation, getting money into the banking system is a good policy. Having fresh equity makes it easier for them to acknowledge past mistakes and move on. Govt need to pump in ~Rs.75,000 crores every year over next few years from budget to make PSU banks vibrant.
  • But every NPA has to be booked entirely by from Bank's equity only. Writing off NPAs will result in capital erosion to that extent. NPAs exceeding 10% will erode equity completely.
  • Public sector banks have frozen up on lending because their capital to loan ratios will not allow any more.
  • Since banks needs to have 10% of every loan from its equity, larger equity base will be helpful to some extent in resuming lending business.
  • But banks recapitalisation helps adequate equity in books to resume lending of consumer deposit money.
  • Any deposits withdrawal run by public will be disastrous for banks, with inadequate cash and massive deposits to service.
  • But the banks lending money to its promoter (government) by buying bonds for funding additional equity acquisition of the same bank might be legal but is grossly unethical.
  • With 80% NPAs irrecoverable, Banks would never initiate hard steps for recovery of these NPAs with massive haircuts contracting their equity.
  • But when will they earn profits and cover up irrecoverable NPAs? With reforms and tight future lending and banks managed professionally without political influences and temptation of corruption, it would easily take over 10 years. Until then it is just hollow talk only.
  • This Banks Recapitalisation exercise (equal to 1% GDP) may not increase fiscal deficit in  books, but will damage economy the way its corresponding fiscal deficit would have done or even more. 
  • The best way and the only way is that banks take over NPA companies and liquidate them in auction and book losses. With what ever is left out they should draw their operations afresh and move on carefully. Any other way will be round about and postponing eventualities, achieves nothing and wastage of time & money.
  • While national debt may create some assets, it also means that the present government is creating liabilities for unborn citizens reducing their ability to produce and makes them poorer.

Banks NPA situation was equally bad and needed recapitalisation ever since Modi became PM 3+ years ago. Instead of doing the right things for vibrant economy, Modi focused on vanity and spectacularity of new schemes and none of them have done any good for the economy. In fact reckless reforms like Demonetisation & GST have destroyed all sectors of economy. The only way our economy can grow and stabilise is with improving agriculture viability that enables rural spending and consumption and support the economy. But Modi & Jaitley are known for their tinkering the economy with disastrous effects only. Today, public deposits in banks in excess of Rs.1 lakh per customer are highly unsafe with RBI insurance covering up to Rs.1 lakh only!

Tuesday, 28 November 2017

Aadhaar makes citizens more vulnerable

Last year Delhi Police busted an ISI spy ring and found that Mehmood Akhtar had an Aadhaar card naming him as Mehboob Rajput. In May this year, the Central Crime Branch found that three Pakistanis had obtained Aadhaar cards in Bengaluru through a middleman for Rs 100 each. More recently, Zeebo Asalina, an Uzbek national arrested in Orissa, had an Aadhaar card naming her as Duniya Khan.
  • The perception that security agencies may have a better chance of nabbing potential terrorists if all mobile connections are verified using Aadhaar is flawed. Since Aadhaar cards were based on forged documents and UIDAI does not conduct any verification by itself, it retains the flaws of these documents and is not ‘fraud-resistant’. In fact, once they have Aadhaar, things may get easier for potential terrorists, given the incorrect perception that it is foolproof.
  • Paper IDs are not good for privacy since they can be reused for other purposes. But Aadhaar is worse, because once data is shared with hundreds of third parties, it is no longer secure. 
  • Electronic KYC is cheaper for telecom operators and banks, it is costlier for citizens. The cost of the loss of personal information is much higher than the benefit of collecting it. UIDAI has no control once data leaves its system via eKYC, which has a tick-box approach to consent and no checks thereafter.
  • The risk of personal information leaks increases with more services getting linked to Aadhaar due to security vulnerabilities, or sheer incompetence of the government or third parties.
  • Disclosure of Aadhaar numbers is illegal as per Section 29 (4) of the Aadhaar Act.
  • Whereas RTI Act makes it mandatory for every public authority to publish the manner of execution of subsidy programmes, including the amounts allocated and the details of beneficiaries of such programmes. This is conflict with Aadhaar Act.
  • Biometrics are the least secure form of authentication. They can be cloned from photographs, and you leave fingerprints on every glass of water you pick up.
  • Estonia had to suspend its digital ID cards due to cybersecurity related vulnerabilities. Spain is facing similar issues. 
  • The government’s cavalier attitude towards privacy that privacy cannot be at the cost of innovation indicates its willingness to put citizens’ personal safety at risk: that your privacy is a price that GoI is willing to pay for making it easier for businesses to be built around your data.
  • Data for millions of people has already been compromised by the government, the allegation that critics are “alarmists” and “motivated” is a tactic to divert attention from badly designed architecture, execution mistakes, security failures and the yet-to be-addressed risks.
  • While there are some benefits that might accrue from customisation of thousands of services that might otherwise not have had your data, a government that forcibly takes sensitive and personal information from you, and a court that has allowed this to happen despite appeals to stop it, has acted against you and 1.3 billion others.
  • All your data, linked to a single ID and accessible to the government under unspecified ‘national security’ considerations, without sufficient checks and balances and judicial oversight, is also dangerous in the hands of a future government that might look to retain power by any means necessary. 
  • Mass surveillance for which Aadhaar is an enabler, is an unnecessary and disproportionate infringement of rights, and dangerous for democracy. 
  • With Aadhaar numbers littered all over the web, anyone can create a dossier of personal information by finding and joining datasets bases with the Aadhaar number and hence stating that Aadhaar is not a secret or confidential number is misleading and dangerous.
  • Publishing a person’s caste, Aadhaar number, or mobile number or emailids is an unwarranted invasion of the privacy of the individual and serves no public interest but the leaked info can also cause financial loss. It opens doors for fraudsters to perform attacks on unsuspecting individuals.
  • Publishing of last four digits of Aadhaar number only might not satisfy the provisions of both RTI and the Aadhaar Acts. Publishing Aadhaar number, full or partial, on the open web will put too many unsuspecting people at risk. It’s illegal for UIDAI to pass the buck and act innocent about data leaks. It needs to get across to users of Aadhaar data to follow the law or be held responsible.
  • Instead of blaming the transparency requirements of the RTI, UIDAI must be pressurised to enforce its agreements with its partners. Whether you call it a data leak or not, doesn’t reduce the harm done if the authorities continue to publish Aadhaar details on the open web.

Government can't make citizens safer by making them more vulnerable.

The issue is not about Aadhaar as a tool in identification, but of linking it with everything under the sun is gross violation of privacy by government. While linking Aadhaar as remedy to plug leakages of government subsidies is well taken but forcefully linking it to all IDs is as imprudent as having one password for all your transactions which exponentially increases vulnerability. There would be little remedy to assaults by fraudsters on systems that are indiscriminately cross-linked. In the absence of robust data security environment, stringent privacy laws and meticulous penal agreements for any kind of data leakage or misusing, Government has no business to make Aadhaar linking mandatory to all citizen IDs and exposing them to security threats and unknown & unmitigated financial losses.

Monday, 27 November 2017

Ratan Tata's generosity

Today is ninth anniversary of 26/11 Mumbai terrorists attack. The 2008 Mumbai attacks were a group of terrorist attacks that took place in November 2008, when 10 members of Lashkar-e-Taiba, an Islamic terrorist organisation based in Pakistan, carried out a series of 12 coordinated shooting and bombing attacks lasting four days across Mumbai. The attacks, which drew widespread global condemnation, began on Wed, 26 Nov 2008 and lasted until Sat, 29 Nov 2008, killing 164 people and wounding at least 308.


Ratan Tata was the then chairman of Indian Hotels who owned the Taj Mahal Hotel Mumbai, which was the target of the terrorists on 26/11/08. Hotel President a 5 star property also belongs to Indian Hotels. What Ratan Tata did for the Mumbai victims is really touching

  1. All category of employees including those who had completed even 1 day as casuals were treated on duty during the time the hotel was closed.
  2. Relief and assistance to all those who were injured and killed
  3. The relief and assistance was extended to all those who died at the railway station, surroundings including the “Pav- Bha ji” vendor and the pan shop owners.
  4. During the time the hotel was closed, the salaries were sent by money order.
  5. A psychiatric cell was established in collaboration with Tata Institute of Social Sciences to counsel those who needed such help.
  6. The thoughts and anxieties going on people’s mind was constantly tracked and where needed psychological help provided.
  7. Employee outreach centers were opened where all help, food, water, sanitation, first aid and counseling was provided. 1600 employees were covered by this facility.
  8. Every employee was assigned to one mentor and it was that person’s responsibility to act as a “single window” clearance for any help that the person required.
  9. Ratan Tata personally visited the families of all the 80 employees who in some manner – either through injury or getting killed – were affected.
  10. The dependents of the employees were flown from outside Mumbai to Mumbai and taken care off in terms of ensuring mental assurance and peace. They were all accommodated in Hotel President for 3 weeks.
  11. Ratan Tata himself asked the families and dependents – as to what they wanted him to do.
  12. In a record time of 20 days, a new trust was created by the Tatas for the purpose of relief of employees.
  13. What is unique is that even the other people, the railway employees, the police staff, the pedestrians who had nothing to do with Tatas were covered by compensation. Each one of them was provided subsistence allowance of Rs. 10K per month for all these people for 6 months.
  14. A 4 year old granddaughter of a vendor got 4 bullets in her and only one was removed in the Government hospital. She was taken to Bombay hospital and several lacs were spent by the Tatas on her to fully recover her.
  15. New hand carts were provided to several vendors who lost their carts.
  16. Tata will take responsibility of life education of 46 children of the victims of the terror.
  17. This was the most trying period in the life of the organization. Senior managers including Ratan Tata were visiting funeral to funeral over the 3 days that were most horrible.
  18. The settlement for every deceased member ranged from Rs. 36 to 85 lacs [One lakh rupees tranlates to approx 2200 US $ ] in addition to the following benefits:
a. Full last salary for life for the family and dependents;
b. Complete responsibility of education of children and dependents anywhere in the world.
c. Full Medical facility for the whole family and dependents for rest of their life.
d. All loans and advances were waived off – irrespective of the amount.
e. Counselor for life for each person

  1. How was such passion created among the employees? How and why did they behave the way they did?
  2. The organization is clear that it is not something that someone can take credit for. It is not some training and development that created such behaviour. If someone suggests that – everyone laughs
  3. It has to do with the DNA of the organization, with the way Tata culture exists and above all with the situation that prevailed that time. The organization has always been telling that customers and guests are #1 priority
  4. The hotel business was started by Jamshedji Tata when he was insulted in one of the British hotels and not allowed to stay there.
  5. He created several institutions which later became icons of progress, culture and modernity. IISc is one such institute. He was told by the rulers that time that he can acquire land for IISc to the extent he could fence the same. He could afford fencing only 400 acres.
  6. When the HR function hesitatingly made a very rich proposal to Ratan – he said – do you think we are doing enough?
  7. The whole approach was that the organization would spend several hundred crore in re-building the property – why not spend equally on the employees who gave their life?

To be generous on this scale requires lots of money, courage, a very large heart and above all empathy. At the same time our duty bound state & central governments come forward to help victims and support them is very meager even that too while announcements would be made loudly on TVs, victims kin may have to wait years and make umpteen trips to govt offices. What govt men lack is empathy.

Trust & Respect can't be demanded; they have to be earned


  • I am not supporter of "judges appointing judges" i.e. SC Collegium that do not invite applications from all eligible candidates prior to processing thus undermining the democractic principle of equality of opportunity.
  • If PM and LM etc are that much trustworthy where is the need for checks and balances? Does Ravi Shankar Prasad wants all institutions be dismantled just because people elected them?
  • Democracy becomes stronger only with strengthening of institutions, transparency & accountability of all decision making authorities, following due procedure for each and every decision, thread bare discussion about the suitability of every decision and minimal or nil use of discrete powers by people in responsible positions even under extreme conditions. In any case parliament's prior approval must be mandatory in 99% cases and post-facto approval in very very few emergency situations. Otherwise ours is pseduo democracy.
  • Trust and respect are funny things. They can't be demanded; they have to be earned. The more you crave for them the more they elude you.
  • Modi is elected by people not out of any trust but due to lack of choice. They thought he is better of all devils.
  • Modi was elected by people to be their PM for 5 years to administer the nation with in the framework of constitution and laws. Nothing more; nothing less. What ever he wants to do he must follow due process of law. He can't get a dream in the midnight and do it next day morning.
  • Finally, the fact that every decision originates from PMO indicates his gross disrespect for others and institutions and exhibits his authoritarian tendencies. History is a testimony for every dictator going down sooner or later, often ignominiously.

In this world, no one is trustworthy 100%

Sunday, 26 November 2017

S&P's rationale for India's status quo


Despite two quarters of weaker-than-expected growth, India's economy is forecast to grow robustly in 2018-2020 and foreign exchange reserves will continue to rise.

Nevertheless, sizable fiscal deficits, a high net general government debt burden, and low per capita income detract from the sovereign's credit profile. We are affirming our 'BBB-' long-term and 'A-3' short-term sovereign credit ratings on India. 

The stable outlook reflects our view that, over the next two years, growth will remain strong, India will maintain its sound external accounts position, and fiscal deficits will remain broadly in line with our forecasts. 


On Nov. 24, 2017, S&P Global Ratings affirmed its unsolicited long- and short-term foreign and local currency sovereign credit ratings on the Republic of India at 'BBB-/A-3'. The outlook is stable.


The stable outlook reflects our view that, over the next two years, growth will remain strong, India will maintain its sound external accounts position, and fiscal deficits will remain broadly in line with our forecasts. Upward pressure on the ratings could build if the government's reforms markedly improve its net general government fiscal out-turns and so reduce the level of net general government debt. Upward pressure could also build if India's external accounts strengthen significantly.

Downward pressure on the ratings could emerge if GDP growth disappoints, causing us to reassess our view of trend growth; if net general government deficits rose significantly; or if the political will to maintain India's reform agenda significantly lost momentum.


The ratings on India reflect the country's strong GDP growth, sound external profile, and improving monetary credibility. India's strong democratic institutions and its free press promote policy stability and compromise, and also underpin the ratings. These strengths are balanced against vulnerabilities stemming from the country's low per capita income and relatively high general government debt stock, net of liquid assets.

Institutional And Economic Profile: The ruling party continues to consolidate its power at the state level and, despite obstacles to the implementation of reform, strong growth is likely to continue Narendra Modi's coalition, led by the Bharatiya Janata Party (BJP), has further consolidated power in state-level elections in 2017 and we expect it to make further gains.

One-off factors, such as demonetization and the imposition of a goods and services tax, have led to some quarterly cooling in India's high growth figures.

Nevertheless, the medium-term outlook for growth remains favorable, based on private consumption, an ambitious public infrastructure investment program, and a bank restructuring plan that should help revive investment.

The ruling BJP-led National Democratic Alliance (NDA) coalition dominates the electoral scene, and has a clear majority in the Lok Sabha (the Lower House of parliament, which is directly elected by the people). However, it lacks a majority in the Rajya Sabha (the Upper House, which is largely elected by state assemblies under India's federal system). In the Upper House, the opposition has been able to stall some reform efforts. The NDA has been doing well in 2017's state-level elections and is forecast to make further gains at this level, which could eventually lead to a majority in the Upper House.

The coalition has also managed to pass a number of reforms to address long-standing impediments to the country's growth. These include comprehensive tax reforms through the introduction, on July 1, 2017, of a goods and services tax (GST) to replace the complex and distortive system of domestic indirect taxes. Other measures include a Bankruptcy Code and nonperforming loan resolution framework; a plan to recapitalize state-owned banks; a plan to strengthen the business climate by simplifying regulations and improving contract enforcement and trade; and reforms to the energy sector.

However, confidence and GDP growth in 2017 appear to have been hit by the sudden demonetization exercise in late 2016 (by which high-value cash notes of Indian rupee [INR] 500 and above, which constituted about 85% of the country's cash stock, were replaced with new notes, in an effort to curb tax evasion).

The July 1, 2017 introduction of the GST, which combines the central, state, and local-level indirect taxes into one, has also led to some one-off teething problems that have dampened growth.

Nevertheless, in the medium term, we anticipate that growth will be supported by the planned recapitalization of state-owned banks, which is likely to spur on new lending within the economy. Public-sector-led infrastructure investment, notably in the road sector, will also stimulate economic activity, while private consumption will remain robust. The removal of barriers to domestic trade tied to the imposition of GST should also support GDP growth.

Ratings are constrained by India's low wealth levels, measured by GDP per capita, which we estimate at close to US$2,000 in 2017, the lowest of all investment-grade sovereigns that we rate (see "Sovereign Risk Indicators," Oct. 13, 2017, also available at That said, India's GDP growth rate is among the fastest of all investment-grade sovereigns, and we expect real GDP to average 7.6% over 2017-2020 (6.5% in per capita terms).

Flexibility And External Performance Profile: Ongoing expenditure pressure at both the central government and state level will ensure fiscal consolidation remains slow, but India's external position is a strength given the planned ramp-up in public-sector-led infrastructure investment and the persistent deficits, especially at the state level, fiscal consolidation will remain difficult.

The rupee's liquidity in international foreign exchange markets will continue to buttress our external assessment.

Recapitalization of state-owned banks is likely to pave the way for some improvement in credit expansion from 2018. India's external position remains a credit strength. According to the "Triennial Central Bank Survey," published on April 2016 by the Bank for International Settlements (BIS), the rupee was traded in 1.1% of all foreign exchange transactions globally. We therefore consider the rupee to be an actively traded currency, which increases India's ability to finance external imbalances. The recent increased issuance of offshore rupee-denominated bonds (masala bonds) is a testament to this flexibility.

We forecast that India's external debt, net of liquid public and financial sector external assets, will average a modest 8.4% of current account receipts over 2017-2020. The level of economy wide external indebtedness is likely to remain contained throughout the forecast period, underpinned by an improved current account deficit, which we forecast will average 1.8% over 2017-2020, down from the 2.3% level recorded on average between 2011-2016. Recent narrowing has been driven by robust
exports and lower global oil prices. The Reserve Bank of India's foreign exchange reserves stood at above US$400 billion in October 2017, amounting to over six months of import cover, a sizable buffer.

Against the backdrop of the planned ramp-up in public-sector-led infrastructure investments, as well as persistent deficits at the state level, the large general government debt load and India's overall weak public finances continue to constrain the ratings. India has a long history of high net general government fiscal deficits (net of liquid assets, deficits averaged over 8% of GDP over the past 20 years and 7% in the past five years).  The planned large infrastructure investment program is likely to limit expenditure flexibility, even though the government is likely to be able to tap private sector funds for the construction of many of these infrastructure projects.

In addition to expenditure demands, the country's fiscal challenges also reflect revenue underperformance compared with most peers at the rating level. India's general government revenue, at an estimated 22% of 2017 GDP, is low compared with peer sovereigns. Administrative efforts to expand the tax base--including demonetization (which has increased the number of tax registrants) and the introduction of the GST in July--corroborate our belief that government revenues will accelerate into the forecast period.

Although we expect central government to broadly succeed in controlling deficits at the federal level, we foresee that problems at the state level will add 3% on average to the consolidated general government deficits over the forecast horizon. 

India's high fiscal deficits in past years have led to the accumulation of sizable general government borrowings (about 67% of GDP in 2017, net of liquid assets) and relatively high debt servicing costs (close to one-fifth of general government revenue). We project that net general government debt will decline by a modest amount over our forecast horizon. India's government borrowings are mostly denominated in rupees, which largely mitigates exchange rate risks. The small portion of external government debt is predominantly sourced from official lenders over long tenors and at concessional rates. 

India has a two-tier banking sector. Its private sector and foreign banks amount to about 30% of the banking system, with the public sector amounting to 70%. The private sector banks have better profitability and higher internal capital generation, and are better capitalized with lower-stressed assets than government-owned banks. 

Given their weaker profitability, we estimate that public-sector banks will need a capital infusion of about US$30 billion to need capital to make large haircuts on loans to viable stressed projects and meet the rising requirement of Basel III capital norms. 

In October 2017, the government committed to a capital infusion plan of roughly that size, partially financed by the government itself and the rest raised via other sources. We include planned recapitalization costs to our assumptions of the sovereign's general government debt issuance. Our Bank Industry Credit Risk Assessment for India is '5' (with '1' being the strongest assessment and '10' the weakest). Nevertheless, combining our view of India's government-related entities and its financial system, we view the country's contingent fiscal risks as limited. 

The Reserve Bank of India (RBI) has made substantial progress in lowering consumer price index (CPI) inflation following the introduction in February 2015 of its medium-term inflation target band (with 4% CPI inflation plus or minus 2% as the principal nominal anchor for monetary policy), aided by broadly lower oil prices and other factors. Other steps taken to strengthen policy formulation include the introduction of the monetary policy committee framework, improved communication, and efforts to strengthen monetary policy transmission (for example, through new guidelines requiring banks to determine their lending rates using marginal cost of funds). These have also helped improve monetary effectiveness. We expect the RBI to continue to achieve its inflation targets. We believe these RBI measures will support its ability to sustain economic growth while attenuating economic or financial shocks. 

Earlier when the rating was given usually the government took a view that 
they are under-rating our performance. Now we are saying they may be 
over-rating our performance. In either case the consensus seems to be 
they are not rating properly. So leave it there ... YV Reddy

S&P was kind enough to use soft words and yet made their point of the reality clearly. In the past we had the advantage of low oil prices continuously for 3+ years but the advantage was squandered away by lethargy and reckless spending. Going forward our wrecked economy has to face increased oil price regime. Modi's reforms so far have been disruptive in nature with poor design, badly implemented without any mitigation space and had decimated informal sector. These have resulted in closure of 250,000 SMEs and livelihood loss for over 2.5 million workforce. All his vanity schemes launched with spectacularity have bounced. The result is economy shattered and all sectors are in deep distress except MNCs and service sector. The real position is reflected by 90% usage of fiscal space within first three months and reduced revenues and expenditure uncontrolled. Modi with quack advised schemes effortlessly wrecked economy but rebuilding the same is painfully slow and will take its own sweet time and in the meantime poorer classes are subjected to enormous pain for no fault of theirs. What is store for India, time will reveal in next one and half years i.e. prior to 2019 general elections. I foresee stable or worsened situation.

Saturday, 25 November 2017

People who have less give more

  • People who have less give more.
  • Low social class participants were more generous and believed they should give more of their annual income to charity. 
  • They were also more likely to trust strangers and showed more helping behavior towards someone in distress. Contrarily, higher social class individuals are more unethical. They are more likely to take things from others, lie, and cheat.
  • They are more compassionate and more sensitive to the need of others.
  • Their way of thinking as a “contextualist tendency” marked by an external focus on what is going on in their environment and with other people. 
  • Those who have more tend to be self-centered with solipsistic tendencies that are concentrated on their own internal states, goals, motivations, and emotions.
  • Those who have less are focused on the present whereas those who have more are future-oriented to a greater extent.
  • Having money and high social status is certainly a good thing in many respects. Money provides comfort and security, and a lack of it can produce real hardships. But once our basic needs and even some comforts are met, isn’t there value in experiencing compassion for others and acting on impulse? Isn’t there some benefit to being sensitive to the distress of others, and behaving like the old woman in the Indian village at least once in a while?
  • Everyone of us can learn valuable lessons from the generosity of the poor.

Empathy is a powerful tool

Satya Nadella, the Microsoft CEO, often narrates how he almost did not get a job in Microsoft. The manager of the company, Richard Tait, asked him in an interview: “Imagine you see a baby laying on the street, and the baby is crying. What do you do?” Nadella quickly replied: “You call 911.”  As the interviewer walked Nadella out of his office, he put his arm around Nadella and said: “You need some empathy. If a baby is laying on the street crying, you pick up the baby.”  Nadella got the job nonetheless, but since then he understood the importance of empathy in work and in his personal life. 
  • Empathy is the ability to share others’ feelings and experiences. It is deeper than sympathy because it is feeling with others, not feeling for others. 
  • When someone is miserable deep down, you are happy that it is not you who is suffering. You are in a higher position so you can help the other out, whereas the road to empathy goes through yourself.
  • In empathy you participate in others’ being, transmit your energy to others.
  • Empathy is an innate trait lying dormant in everyone, but it has to be cultivated. It is not a refresh button you can suddenly turn on when there is a need. The road to empathy goes through yourself. Empathy is one of the most essential skills.
  • People will forget what you said. People will forget what you did. But people will never forget how you made them feel.
  • Empathy can be developed if you first own your mistakes, if you learn to forgive yourself, if you understand that nobody is perfect. 
  • Once you come to that deeper realisation, you don’t judge as quickly, you listen better and you can amplify people’s strengths, not focus on their weaknesses. 
  • When someone is receiving your sympathy, you move into a superior position, and he becomes lowly and humble. If you look into your heart, you will find a kind of pleasure in sharing your sorrow for his condition. Sympathy is a false thing; it is a deception. 
  • If we understand fully when our sympathy is genuine, we experience unhappiness in another’s unhappiness, and joy in another’s happiness. 
  • Empathy is a great leadership tool. Without being empathetic one can't become an effective leader.
  • If you can’t measure empathy then it is very difficult to assess how much empathy your company is delivering, and where the greatest empathy deficits lie.
  • Empathy is more an indication of management priorities. Empathy pays, and it pays best when it comes from the top.

If there is any one secret of success, 
it lies in the ability to get the other person’s point of view 
and see things from his angle as well as your own ... Henry Ford

Rafale deal: Modi must explain his actions


  • Days before the PM replaced the deal with one that would eventually exclude HAL, the Dassault CEO had said ‘contract finalisation and signature could come very soon.’ So what changed?
  • The manner in which Prime Minister Narendra Modi bypassed a number of relevant institutional mechanisms to announce the purchase of 36 Rafale fighter jets during his official visit to France in April 2015, gives rise to lots of suspicions about corruption and nepotism.
  • Reliance Defence Ltd.’s Chairman Anil Ambani accompanied Prime Minister Narendra Modi in his trip to France in April 2015, the company said he did because he is one of the members of the Indo-French CEO Forum. 
  • Dassault Aviation selected Anil Ambani's Reliance Aerostructure Ltd (subsidiary of Reliance Defence Ltd) as its joint venture partner. Reliance Defence Ltd stated that the committed offset obligations of Rs. 30,000 crore are to be undertaken by Dassault Reliance Aerospace joint venture company and not by Reliance Defence Ltd.
  • Why is the Modi government buying 36 Rafale aircraft at a highly inflated price compared to the originally negotiated base price by the previous government? Is it correct that the Modi government is buying 36 Rafale aircrafts without the transfer of technology for $8.7 billion while the previous government had negotiated 126 Rafale aircraft at a base price of $10.2 billion along with the transfer of technology?
  • In August 2007 UPA government floated a tender for the purchase of 126 twin-engine “Medium Multi Role Combat Aircrafts” for the Indian Air Force (IAF). After months of hectic bidding by various foreign companies – Lockheed Martin’s F-16, Dasssault’s Rafale, Boeing’s F/A-18s, Russia’s MIG-35, Sweden’s Saab’s Gripen, Eurofighter Typhoon – Rafale won the contract. The agreement between Dassault and the Indian government was finalised in late 2012. The company settled to sell its aircrafts at a base price of $10.2 billion (approximately Rs 54,000 crore as per the 2012 conversion rate). It was decided that out of 126, 18 planes will be imported in a finished state or in a fly-away condition, and the rest of them (108) would be manufactured by HAL, to which the French company was obliged to transfer its technology and was also required to invest half of the total transaction amount in India, according to the agreement. The deal was seen as fair one in which both parties got into a long-term mutually beneficial association. The workshare agreement between HAL and Dassault Aviation was signed on March 13, 2014.
  • During his recent Indian tour, Trappier tried to evade the Indian media's question on why Dassault had inflated the price of 36 Rafale. "You have to ask the [Indian] government this question," Trappier had replied.
  • Former defence minister Manohar Parrikar was informed hurriedly only a few days before Modi’s France visit of the decision to acquire 36 jets, leaving him to publicly defend a decision that “he neither understood nor agreed with”.
  • “In terms of Rafale, my understanding is that there are discussions underway between the French company, our Ministry of Defence, the HAL which is involved in this. These are ongoing discussions. These are very technical, detailed discussions. We do not mix up leadership level visits with deep details of ongoing defence contracts. That is on a different track. A leadership visit usually looks at big picture issues even in the security field.”  A day before the PM’s visit, foreign secretary S. Jaishankar said in a press briefing. 
  • This shows that the foreign ministry’s senior-most bureaucrat was not aware of the impending announcement. In other words, the official stand appeared to be a continuation of the deal that the previous UPA-II government had laid down for a purchase of 126 aircraft from the French company that involved the government-owned Hindustan Aeronautics Limited (HAL) as the Indian manufacturing partner. Jaishankar’s statement also shows that until April 8, 2015, HAL was officially still very much a part of the deal. 
  • The Government has set up a Defence Acquisition Council (DAC) headed by the Raksha Mantri for decision making in regard to approval of Capital Acquisitions in the long term perspective. The decision flowing from the Defence Acquisition Council are to be implemented by (1) Defence Procurement Board headed by the Defence Secretary (2) Defence Production Board headed by the Secretary (Defence Production) and (3) Defence Research & Development Board headed by the Secretary (Defence Research & Development). How can Modi, even as PM directly sign a highly technical defence procurement deal without prior clearance from DAC? Narendra Modi dispensation is having the worst record in recent years on utilisation of Defence Budget and compromising national security. Former Defence Minister AK Antony said that during UPA regime, several opposition leaders and top BJP brass like Yashwant Sinha and Jaswant Singh had opposed the purchase of the French fighter jets during the UPA regime, finding fault on different counts. 
  • Even Dassault CEO and chairman Eric Trappier may not have been aware of Modi’s decision to cut the size of the deal to 36 aircraft, exclude HAL and remove the crucial transfer of technology clauses.
  • An Agence France-Presse report (published on Indian Defense News on March 27, 2015) quotes Trappier as saying that the work on completing an Indian contract for the Rafale fighter jet is taking time, but the deal to purchase 126 Rafales is now “95% completed.”

The first two Indian Mirage 2000 delivered by Dassault Aviation
  • See the above video available in YouTube, published by Dassault on March 25, 2015, two weeks before Modi’s France visit and the reduced order announcement. 
  • In the video, Trappier proudly states that “Considering as well our conformity with the RFP,  in order to be in line with the rules of this competition, I strongly believe that contract finalisation and signature could come very soon.”
  • Now, the first Rafale jets are to enter service with the Indian Air Force between 2019 and 2022 and Dassault has been negotiating with the government of India for a deal of 36 more jets which would form two more squadrons.

Political leaders with majority succumbing to temptations and
overriding institutional procedures in the garb of speed and efficiency
are betraying the sacrifices made by our freedom fighters and founding fathers
in establishing the sovereign republic of India ... Manmohan Singh

Those who had followed the things that happened 2007 onwards on Rafale matters would know that the inordinate delay was due to arriving at amicable agreement of transfer of technology to HAL by Dassault and can't blame MMS government alone for delay and with 95% work for signing agreement was completed which facilitated Modi's instant cancellation of RFS and signing a new costlier deal. No one was aware about the cancellation of UPA deal and hoisting of Modi's own deal in the name of emergency requirement of IAF, till it was announced by Modi. All the institutional mechanisms tor ensuring transparency and fairness were subverted for no justifiable reason. This is nothing but but blatant display of authoritarianism and nepotism by Modi. Anil Ambani's Reliance Defense Ltd has no prior experience in this field. Apart from deleting 'technology transfer clause', per unit cost escalation to $242mn (from $81mn) by 3 times inflicting loss of over Rs. 35,000 crores (Total deal value Rs. 56,500 crores) to exchequer is unjustifiable by any stretch of imagination. Ironically, Defense Minister Nirmala Sitharaman's explanation on Nov 16, 2017 that 'all procedures were followed' doesn't infuse any public confidence in this matter.

Friday, 24 November 2017

Benefits of Blogging

The power of a blog to educate, inspire, and bring like-minded people together makes blogging a great way to help people. Trust is a rare and valuable commodity online. It has to be earned by demonstrating your commitment to your readers, time and time again. That’s exactly what good bloggers do by regularly posting valuable, honest articles on their blogs. The more people whose trust you’ve earned, the easier it will be to accomplish your goals online.
  • Express yourself and share your passions
    Blogs serve as a platform for people to voice their ideas, thoughts, and feelings. Whether your passion is business, personal finance, cooking, politics, photography, or marketing, blogging gives you the opportunity to connect and network with like minded individuals who share the same passions.
  • Make a difference 
    Whether it’s a political, environmental or social cause, a blog is a great way to build awareness and garner support.
  • Share your knowledge
    If you’re someone who loves to teach, starting a blog can provide the opportunity to educate others interested in your field of expertise. As you build resources on your blog to teach others, you may realize there is a chance to monetize your blog by creating educational products or services online.
  • Refine your writing skills
    The more you write, the better you become at it due to analysis and proofreading constantly. You may even get feedback from readers. However, being a good writer is not a prerequisite for a successful blog. 
  • Learn to make money on line
    Most people start out with one blog, but along the way, they gain experience and eventually generate ideas for blogs in other areas. The dos and don’ts, marketing strategies that are effective to make money blogging will help you accelerate the growth.
    Read PatFlynn's success story.
  • Build your professional network
    Blogging is a community-based endeavor, and networking is one reason people engage in it. Whether you are a solopreneur or blogging to market your business, building relationships will facilitate your blog’s growth. Meanwhile, growing your online network has its own side benefits, such as gaining access to tools, seminars, workshops, product unveilings, and other events. Starting a blog is a guaranteed way to expand your network.
  • Earn more exposure
    Businesses create blogs primarily to expand their online presence, connect with potential customers, promote their brand in a positive conversation, and even generate online revenue. Beyond the immediate results, businesses use content marketing to rank their posts in search engines, thereby generating residual leads and revenue.
  • Become an authority in your industry
    A blog can be utilized as a platform to showcase your knowledge and expertise. Publishing blog posts that are accurate, timely, relevant, and informative will eventually get the attention of industry insiders and earn you recognition as an authoritative source and thought-leader.
  • Market your business
    For companies and entrepreneurs, gaining online visibility is one of the best ways to grow subscribers, leads and ultimately revenue. This can’t be achieved with a static corporate website. Creating blog content that is valuable, helpful, and/or entertaining is an effective way to grow your website’s authority, online rankings, and traffic.

    The richest people in the world build networks. Everyone else looks for work.

    GST deficit slowly reducing?

    EENADU Telugu Nov 24, 2017
    • GST after disrupting economy for continuously for 5 months limping towards zero deficit.
    • In July 2017 it was utter choas, August ended with deficit of 29% (Rs.12,210 crores) improved in September to 24% (Rs.10,343 crores) and further improved during October 2017 to 17.6% (Rs.7,559 crores). Quarterly (Aug-Oct 2017) collection stood at Rs. 98,930 crores against target of Rs.129,042 crores with 23% deficit of Rs.30,111 crores.
    • This would enlarge fiscal deficit from 3.2% of GDP to 3.5%. Already GDP growth rate took severe beating nose diving to 4 year low of 5.7% which otherwise should have been 9.1%.
    • Oil prices are shooting up with current price at its 4-year high of $63.4 per barrel. The rising prices will further impact our fiscal deficit and inflation.
    • The resilient Indian economy withstood impact of harebrained demonetisation and even before it recovered fully, Modi unleashed badly designed GST only to demonstrate that he is bold and his intentions of continuing financial reforms but causality is the nation and its people. Boldness is different from recklessness, he failed to grasp.
    • Now, with sentiment completely destroyed, investments at standstill, informal sector decimated, agrarian sector in deep distress, construction paralyzed, empty coffers, wide ranging joblessness, dwindling exports, uncontrolled imports, rising oil prices and so on are having its adverse effects on economy, simultaneously. How long consumption driven economy will survive on a single service sector? There is no one who could pop us up from our self inflicted distressed economy.
    • Any economist will tell you that the only way to boost a sagging economy is by increasing government spending on infrastructure thus creating large scale construction jobs and increasing consumption, funding it by widening fiscal space by increasing fiscal deficit even at the risk of higher inflation. Modi is just not doing that and result in near future is anybody's guess.
    • Tax terrorism in the form incessant raids by taxmen and trying to impose service tax on software exports with retrospective effect from 2012 will further ruin any chances of economic recovery.
    • While GST deficit might become zero by the end this financial year, after 3 quarters, it has left us in deep distress, gravely wounded and uncertain future.
    • Who is responsible for this all round distress? ... The answer is Modi and his quack advised Modinomics.

    Spending on infrastructure projects could be lower as sluggish GST growth have upset the government’s budget calculations and GDP growth rate is to take a further hit. The revenue shortfall could be over Rs. 80,000 crores if the current trend continues until the end of the year and will force a re-think in government spending. GST's ambiguous rules, onerous return filing system and glitches with its IT back-end have made doing business far more complicated for many companies. Frequent changes in tax rates launch have heightened business uncertainty. Hurried GST roll out had resulted in a lot of chaos and pandemonium. PSU's reduced dividend, RBI's less than half dividend all have impacted government revenues contrary to budget projection of 17% growth in tax collections. Above all, psu banks recapitalisation and rising oil prices needs to be supported from the budget. So where are we heading for?

    Thursday, 23 November 2017

    Yogi Adityanath should talk like CM

    CM Yogi Adityanath, talking non sense in public meeting

    NHRC has taken suo motu cognisance

    NHRC in its statement said that the reported statement of the chief minister tantamounts to giving police and other state forces a free hand to deal with the criminals at their will and, possibly, it may result in abuse of power by the public servants. It is not good for a civilised society to develop an atmosphere of fear, emerging out of certain policies adopted by the state, which may result in violation of their right to life and equality before law. 

    The statement is nothing but NHRC's admonition to CM Yogi Adityanath and in all decency he must be sacked or compelled to resign for his irresponsible statements like a street goon.

    Tax terrorism in India

    Tax Terrorism is a term coined by Arun Jaitley, who was then Vodafone's advocate. It means putting illegal and extra legal pressure on the taxpayer to extract more tax from a honest taxpayer. Reasons that encourage tax terrorism are that Indian tax laws are oriented towards maximum collection, retrospective tax laws, and imposition of tax targets on tax inspectors. Tax terrorism effects the growth rate of a nation, ease of doing business ranking, FDI & FII investment will decrease.

    The term ‘tax terrorism’ was extensively used by Modi to describe the adversarial approach adopted by tax authorities under the UPA. “The tax terrorism prevailing in the country is dangerous. One can’t run the government by thinking that everyone is a thief,” he said, addressing members of FICCI. Subramaniam Swamy said as much as ₹31 per litre out of petrol prices of ₹75 at the bunk flowed into the government’s coffers as taxes. But Indian taxmen lost a case with Vodafone in Jan 2012 (capital gains tax on an offshore transaction) in the supreme court and they amended tax laws with retrospective effect, making Vodafone liable for a tax on a past transaction.

    If the government of the day is short of cash, it can delay your refunds, open up your old returns for scrutiny or extract in myriad other ways. Dealing with tax authorities, if they do decide to ‘terrorise’ you, isn’t easy. You will need to hire an expert and to convince the assessing officer of your arguments. You can also get into trouble if you delay payments or forget to pay your taxes on time. While the taxman may take his time with your refunds for many reasons, if you delay paying your annual taxes, you not only have to pay interest at 1 per cent per month on the tax due, you can also be asked to cough up a penalty of another 1 per cent per month totaling up to 24 per cent per year.

    If you’re in India, evading taxes is downright foolish. But paying them is no guarantee that you will certainly sleep well at nights.

    On Jul 1, 2017, while rolling out GST, PM Modi described GST as the 'good and simple tax', a radical step towards the country's transformation into a common market, which would help businesspersons putting an end to tax terrorism and inspector raj. However, President Pranab Mukherjee cautioned that "GST is a disruptive change. When a change of this magnitude is undertaken, however positive it may be, there are bound to be some teething troubles and difficulties in the initial stages. We will have to solve these with understanding and speed to ensure that it does not impact the growth momentum of the economy," Mukherjee added.

    On Nov 7, 2017, former prime minister Manmohan Singh alleged that demonetisation and roll out of the Goods and Services Tax (GST) have sown a "deep-rooted fear of tax terrorism" among the business community. At a time when the economy has slowed down considerably, despite favourable global macroeconomic conditions, the fear of tax terrorism has eroded the confidence of businesses to invest. 

    Veda Vyasa said in the Mahabharata that a king should collect taxes 
    like a bee collects nectar from flowers, painlessly

    Today, we see taxmen are raiding black money hoarders and tax evaders ruthlessly every day. Needless to say that raids will only end up in increased political and bureaucratic corruption and not increased revenues to government. Enforcing tax compliance was not the real reason for this tax terrorism. It is the failure of Modi & Jaitley's schemes like IDS, Demonetisation, GST Roll out etc resulting in severe cash crunch faced by Government. Revengeful Modi resorting to tax terrorism wants to demonstrate to the world that he means business and all his schemes are in fact paying off with delay. But what he is failing to gauge is that sentiment getting destroyed, informal sector decimated, agrarian distress, construction paralyzed, empty coffers, joblessness, dwindling exports, uncontrolled imports and rising oil prices will have its telling effect on economy sooner or later. How long consumption driven economy will survive on a single service sector? Ask any economist, he will tell you that the only way to boost economy is by increasing government spending on infrastructure thus creating large scale construction jobs funding it by widening fiscal space even if it requires increasing fiscal deficit. Modi is just not doing that and result in near future is anybody's guess.

    Tuesday, 21 November 2017

    Things that liberate women

    India is a patriarchal society wherein women are considered to be the responsibility of their father and brothers before marriage and then her husband and kids. For a woman, the most liberating moment is the possession of the ability to take the decisions.
    • Education
    • Career / Job
    • Being ethical and professional
    • Financial independence
    • Inner feeling of strength
    • Self confidence
    • Dress
    • Choice to retaining maiden name post marriage
    • Driving
    • Confidence of travelling alone
    • Freedom
    • Trust
    • Opinion sought after
    • Helping others
    • Taking own decisions for everything
    • Having to do chores by choice
    • Use of gadgets & technology for efficiency & time saving
    • Doing own work
    • Inspiring and empowering other women
    • Sense of her own identity
    • Realization that her life is her own to control
    • Ability to tell husband exactly how she feels about him
    • Ability to make a choices of what to do in life
    • Ability to express feelings without being judged
    • Being respected for the opinions
    • Being able to support parents even after marriage
    • Choice to live separately from in-laws

    If a woman is sufficiently ambitious, determined and gifted 
    – there is practically nothing she can’t do ...  Helen Lawrenson

    Pros and Cons of Being Super Rich

    • Riches improves quality of life. Most rich people are unhappy. Happiness can't be bought.
    • It’s better to be rich than poor. And it’s nice to be super rich. 
    • Affluent – Still have to work. If you are comfortable but still must work to support your lifestyle then consider yourself affluent. 
      Rich – Don’t have to work. Rich people means they do not have to work on stuff they don’t enjoy. They have time and they can do whatever they want with it. In America, net worth of  $10mn or higher are Rich.
      Super rich – Have to work to give their money away. Super rich are with net worth in the tens and hundreds of millions of dollars and up. They have more money than they could ever need for their personal lifestyle. The question of not just what to do with their time but what to do with their excess money.
    • It’s nice to be super rich. You’ll fly private jets. You’ll eat nice food all the time, you’ll have aides and servants who will save you time. Problem is as a person makes more money, expectations and desires rise in tandem, which results in no permanent gain in happiness. 
    • The private jet doesn’t feel so special the 20th time you’re on it. Rather than marveling at the fact you’re on your own plane, you’re more likely to just compare it to other private planes you’ve been on.
    • Happiness is the day to day bounce of emotions while happiness meaning is what you feel when you step back, take a minute, and reflect on what will go in your obituary. 
    • A billionaire has said, “Nothing is going to make you feel better. Philanthropy is absolutely the best drug I’ve ever taken.”
    • You can meet anyone in the world. The best part about being famous is the chance to meet other famous people.
    • Unlike in the past, today there’s a tiny difference between the rich and the American middle class in terms of quality of life.
    • Bill Gates has a bigger house than you or me, but for what really matters, we’re the same.
    • Your quality of life is determined by the quality of your relationships.
    • Any person you befriend while you are atop a perch of power is just trying to get something from you or so you suspect, and suspicion alone is enough to careen a relationship.
    • Many presidents declared “no new friends” upon entering the White House.
    • Being super rich can be lonely. If you try to talk about the perils of being rich and famous, someone will accuse you of self-pity.
    • If you are a good person, the weight and duty of being responsible with the billions you have becomes a burden. And then it almost becomes criminal to pass that burden onto your kids. It is very hard not to have it run your life.
    • Being super rich disconnects you from your fellow humans.  If you can’t remember the last time you waited in line at the airport, or if it’s been years since you drove your own car to a supermarket, you’re living in a different world. 
    • Money changes your sense of morality, and usually not for the better. As you move up the class ladder, you are more likely to violate the rules of the road, to lie, to cheat, to shoplift, and to be tightfisted in giving to others. 
    • Empathy goes down. It’s harder for the super rich to remain compassionate towards ordinary people.
    • Perhaps wealth needs its own goldilocks story - not too much, not too little. Money is like gasoline while driving. You never want to run out, but the point of life is not to go on a tour of gas stations.
    • Ideally you want to have a sum of money that is large enough to get most of the advantages of wealth but not its side effects. With enough money, you live entirely on your own terms.
    • People are very critical of the wealthy in the UK. In the US entrepreneurs are celebrated.

    That man is rich, whose pleasures are the cheapest ... Henry David Thoreau
    Honesty is incompatible with amassing a large fortune ... Mahatma Gandhi 
    In a country well governed, poverty is to be ashamed of. 
    In a country badly governed, wealth is something to be ashamed of ... Confucius

    Living life of importance is egoistic, where as leading simple & frugal life has more fun and fulfillment. VIP life in total disconnect in a different world is just miserable. It is better to have sufficient money which gives security, freedom from compulsion to work and to pursue one's own interests & choices. Anything more is burdensome and less is fatigue. We should never lose things that money can't buy. Finally we should never consume more than what we produce. Wastage and  excess emissions are nothing but abusing nature.

    Monday, 20 November 2017

    అత్తారింట్లొ ఒక ఏడాది!

    పెద్దలను అర్ధం చేసుకోకుండా అపార్ధం చేసుకోకండి!

    పూర్వము భారవి అనే కవి వుండేవాడు. ఆయన చిన్నతనం లోనే కవిత్వం చెప్పేవాడు. కావ్యాలు వ్రాసేవాడు. ఊర్లో వాళ్ళంతా చాలా మెచ్చుకునేవారు. 

    భారవి తండ్రితో నీకొడుకు చాలా బాగా వ్రాస్తాడయ్యా అనేవారు.  

    ఆయన  మాత్రం వాడింకా చిన్నవాడు యింకా నేర్చు కోవలిసింది చాలా వుంది. ఏదో వ్రాస్తాడులే అనేవాడు.

    భారవికి తండ్రి తనను మెచ్చుకోవడం లేదని చాలా అసంతృప్తి.

    తల్లి దగ్గర నాన్నగారు నన్ను తీసిపారేసినట్టు మాట్లాడుతారు.వూర్లో వారంతా నన్ను మెచ్చుకుంటూ వుంటే తనేమో ఏమున్నది యింకా వాడు చిన్నవాడు అన్నట్టు మాట్లాడుతారు.అని చాలా సార్లు చెప్పుకున్నాడు.

    ఎన్నాళ్ళయినా తండ్రి ధోరణి మారక పోయే సరికి భారవికి  తండ్రిమీద కసి పుట్టింది, ఆయనను చంపాలని నిశ్చయించుకున్నాడు.

    ఒకరోజు రాత్రి ఆయన వంటింట్లో భోజనం చేస్తున్నాడు భార్య వడ్డిస్తూ వుంది.

    భారవి, ఆయన పెరట్లోకి చెయ్యి కడుక్కునేందుకు వస్తే చంపెయ్యాలని పెద్ద బండరాయి పట్టుకొని పెరట్లో ఒక పక్క కాచుకొని కూర్చున్నాడు.

     అప్పుడు భారవి తల్లి భర్తతో మీరెందుకు వాడిని అస్తమాను చిన్నబుచ్చినట్లు మాట్లాడుతారు?వాడు చాలా బాధ పడుతున్నాడు. 

    వూరు ఊరంతా వాడిని మెచ్చుకుంటూ వుంటే మీరు మాత్రం వాడికేమీ తెలీదని అంటారట!

    అప్పుడు తండ్రి నవ్వి.... పిచ్చిదానా! నాకు మాత్రం వాడిని చూసి గర్వంగా లేదనుకున్నావా?తండ్రి పొగిడితే బిడ్డకు ఆయుఃక్షీణం అంటారు. అంతే కాకుండా పొగడ్త మనిషిని పాడు చేస్తుంది, వాడి అభివృద్ధికి ఆటంకమవుతుంది. ఇంకా  యెంతో పైకి రావలిసినవాడికి గర్వం పెరిగి తనంతవాడు లేడని విర్రవీగుతాడు, దానితో వాడి అభివృద్ధి ఆగిపోదా? అన్నాడు.

    అదివిని భారవికి బుర్ర తిరిగి పోయింది.

    పశ్చాత్తాపంతో రగిలి పోయాడు. వెంటనే బండ అక్కడ పారవేసి లోపలికి వెళ్లి తండ్రి పాదాలమీద పడి భోరున ఏడ్చాడు.

    తాను తండ్రిని చంపాలనుకున్న విషయం చెప్పి నాకేదయినా శిక్ష వేయమని బ్రతిమాలుకున్నాడు.

    పశ్చాత్తాపం తో నీపాపం పోయింది! శిక్ష ఎందుకు? అని తండ్రి చెప్తున్నా వినకుండా  తనకు శిక్ష వేయమని పట్టు బట్టాడు.

    తండ్రి సరే అలాగయితే మీ అత్తవారింట్లో ఒక సంవత్సరం ఎవరికీ, చివరికి నీ భార్యకు కూడా ఎందుకు, ఏమిటి, ఏ కారణాలు చెప్పకుండా అక్కడవుండి రా! అన్నాడు. 

    ఇంత  చిన్న శిక్షనా? అన్నాడు భారవి.

    తండ్రి నవ్వి అది చాల్లే వెళ్ళుఅన్నాడు.

    భారవికి చిన్నతనంలోనే పెళ్లయింది. అప్పటికి యింకా  భారవి భార్య కాపురానికి రాలేదు.

    సరేనని భారవి అత్తగారి వూరికి వెళ్ళాడు. వాళ్ళు అల్లుడుగారు వచ్చారని చాలా మర్యాద చేశారు.

    రోజుకో పిండివంట చేసి ఆదరించారు.నెల రోజులు గడుస్తున్నా అల్లుడు వెళ్ళటం లేదేమని వాళ్ళు విసుక్కున్నారు.

    చిన్న చిన్న పనులు చెయ్యమని చెప్పడం ప్రారంభించారు. మర్యాదలు తగ్గాయి. బావ మరుదులు పొలం పనులు కూడా పురమాయించారు.

    అందరూ విసుక్కుంటూ మాట్లాడేవారు..

    దేనికీ బదులు చెప్పకుండా విసుక్కోకుండా అన్ని పనులు చేసేవాడు. 

    అతని భార్యను కూడా పొలం పనులకు పంపేవారు.భారవి భార్యకు చాలా బాధగా వుండేది. భర్తకు ఆవిడ మీరు మీ ఊరు వెళ్లిపోండని  యెంతో చెప్పి చూసింది.

    భారవి సమాధానం చెప్పకుండా మౌనం వహించే వాడు. 

    ఇలా సంవత్సరం గడిచింది. అప్పుడు భారవి యింక నేను  మావూరికి పోయివస్తానని బయల్దేరాడు.

    ఇంత  హఠాత్తుగా  ఎందుకు వెళ్లాలని అంటున్నాడో వాళ్లకు అర్థం కాలేదు. 

    భార్యకు, అత్తామామలకూ  విషయం వివరించి నాశిక్ష పూర్తి  అయింది అందుకని వెళుతున్నాను అని చెప్పాడు.

    ఇది విని వాళ్ళు తమ ప్రవర్తనకు సిగ్గుపడ్డారు.

    భారవి తనతండ్రి వేసిన శిక్ష తనలో ఎంతో ఓర్పును, నేర్పును, సహనాన్ని, అవగాహనను పెంచాయని గ్రహించాడు.

    తండ్రిని ఎప్పుడూ తక్కువ అంచనా వేయకండి! మీ అభివృద్ధిని కోరుకునే వారిలో ఆయనే ప్రథముడు. 

    చిన్నప్పుడు తల్లి కోప్పడిందని, తండ్రి దండించాడని వారి మీద కోపం పెంచుకోకండి!

    అదంతా మీరు బాగుపడాలనీ, వృద్ధి లోకి రావాలనీ చేసి వుంటారని గుర్తు పెట్టుకోండి!

    తల్లిదండ్రులను ద్వేషించకండి! అంతకంటే పాపం ఇంకోటి వుండదు.

    Coaching classes: causes and effects

    • In a race to excel more than competitors, coaching classes along with other institutions have become a resort for the ‘betterment’ of students’ academic performances.
    • Coaching classes have become ubiquitous in the lives of city students. It is impossible to imagine student's lives with out them.
    • They are simultaneously a compulsion, and at the same time criticized a lot for spoiling education, student's lives, standard of schools etc. 
    • With almost all students attending coaching classes in cities, the interest of school teachers to impart knowledge to students has diminished gradually.
    • Students do not pay attention in regular classes and this lowers regular teacher's motivation to teach their best.
    • College student coaching improves retention and graduation rates but their approach in these classes is centered towards marks and better academic performance only. It is the fault of the education system that weighs the student's standings on the brilliance of his score-card alone.
    • Hammering of the matter into the student's heads by means of continuous reiteration in written or oral form has become the way most coaching classes function today. Coaching classes are just boosters. They do improve the achievement grades of the students, but they are ad hoc, not a systemic or sustainable improvement in education levels. 
    • Attending high-school coaching classes is not only a waste of time for students who are sincere in their studies, and is also a burden for ones who are basically not interested in studying.
    • Long hours spent at coaching classes also hampers student's later years if they want to pursue careers in fields that are non-academic. 
    • Incidents of backaches, neck aches, eye-related problems, obesity have been increasing among students and all of them can be mostly attributed to sitting in classes for hours at a stretch without any physical activity whatsoever. 
    • Coaching classes at the school-level are completely unnecessary. They become a burden and students neglect non academic things like swimming, karate etc. At the college level, a good coaching class is a must for extensive practice and continuous expert guidance for scoring well in entrance exams which colleges fail to provide.
    • Coaching classes helps only the intelligent lot and the ones who are sincere. For others they are a burden. Coaching classes are performance enhancement drugs where eligibility is nothing but affordability.
    • Coaching classes are a by-product of capitalism and those enrolling for them must try to make the most out of them as customers. Individuals are to take decisions as per their individual needs. 
    • Coaching has become a lucrative business and these coaching institutes lure students by various unethical tactics to join them in the name of career making. 
    • If examinations are redesigned to test for originality, creativity, analytical ability rather than only test for information, then these rote learning shops will have to shut down. Once examinations start rewarding thinking rather than knowing, the incentives will change and the role of coaching colleges will change. 

    Coaching classes as complementary to regular classes is a good thing but increased dependence only on coaching classes to achieve success in exams is futile. Coaching classes are like a vitamin booster shot that do not address the real problems in diet but only a cover up for deficiencies. Students who stands good chance of succeeding in competitive exams (less than 1:10 in model tests) must take coaching classes and for others it is nothing but waste of time and money. At the same time exorbitant coaching fees makes no sense.