
अब फिर से रोना-धोना होगा

Rising Inequality: A Cause of Concern

Rising inequality is cause of concern but such concentration and accumulation of wealth in few hands at the end day would undermine the democracy and democracy over time will turn into oligocracy in which only a few will remain important. Rest would not matter.
ICICI Board Allowed Bank to Fail: ICICI-Videocon Matter
Since Chanda Kochhar’s husband was directly involved with the borrowing firm Videocon, anyone can assume that the possibility of some undue favours cannot be written-off. Though for ICICI it was not a cause of concern at all. Rather they gave her clean chit in this matter on first instance. However such a hasty decision by board was not expected but board was busy in the process of damage control to its brand image. While doing so board forgot it was its responsibility to ensure that bank followed all the codes and regulations. From day one it was clear that ICICI had failed on issue of banking governance. Even Reserve Bank did not find this matter that important. And in this way ICICI Board and RBI allowed bank to fail.
Demonetization, GST and AADHAR

The informal sector is often very helpful in early stages of economic growth but as the wagon moves forward, formalization becomes the need of hour and demonetization, GST and AADHAR are the moves in that direction. When money pouring in the economic system, regulatory authorities must have enough data to check and balance else you will have other lords controlling whole economy. And the way Indian economy was moving along with unimaginable amount counterfeit currency in the system, was undermining all the efforts put forth by respective governments.
A Letter to Dr Raghuram G Rajan
I saw your angst about high level of inflation in the economy in different newspapers. And you was asking questions rather than answering for those same questions! It is simply amusing sir. This makes me ask a few questions.
Sir what you were doing by keeping interest rates so high as a central banker and that too for around long three years? Is it not your failure as a central banker sir? Is the autonomy given to you for being a rebel or catalyst for growth and inclusion? Is it not part of your duty and integrity to cooperate with the FM or convince him so that fiscal and monetary policies remain aligned? Sir what you did for the poor? And what are your achievements besides creating political fissures (for both the governments)?
No doubt you are a very good economist; perhaps a great one and you have proved this to world with studies and writings and don’t need a certificate from novice like me. But sorry sir! I have to say that you are not a good central banker! The autonomy given to you is not for being rebel but to ensure that you are not puppet in the hands of political powers.
Being in limelight is not a bad thing for an economist and central banker but being a Superman of central bankers is not expected from you.
Monetary and Fiscal Policy Must be Aligned
Monetary Union EU is moving forward to meet its fate and Britain may perhaps be the first step in its breakdown. The proper analyses of the economic problems that European Union has been facing for long clearly indicate that the problem lies nowhere but in basic concepts behind the foundations of this Union itself. Until and unless the fiscal and monetary policies are aligned, no beneficial result is possible.
Same situations are there in India as well; as the monetary policy (RBI) moves in northward while fiscal policy (governments (UPA and NDA both)) in southward direction. Being prudent is different thing but being obsessive to something is completely a different thing. RBI Governor Dr Raghuram Rajan has been obsessive rather than being prudent (Greenspan Effect). And perhaps earlier government had idea about this that's why he was given three years stint instead of a regular appointment for five years.
Although EU is a great innovative experiment to undermine the role of governments and to push forward the idea of efficient market carried on by capitalism but it was bound to fail as it was an effort to function the body only with mind and without pumping of blood by the heart. Both the mind and heart are important for the body and they must work in tandem so are the fiscal and monetary policies for the economy.
लौटना होगा जड़ों की ओर

सुकून अपना ढ़ूँढ़ता हूँ मैं
जिन अंधेरों से बचकर भागता हूँ
हमदम हैं वो मेरे।
जिनके साथ हर पल मैं जीता हूँ
और मरता भी हूँ हर पल
कि आखिरी तमन्ना हो जाए पूरी।
मगर वो तमन्ना
आज तक ना पाया हूँ
कि बेवश फिरता रहता हूँ
पूछता रहता हूँ
मैं मेरे अंधेरों से
"कि कुछ तो होगी
तुम्हारे होने की वजह?"
अक्सर वो चुप ही रहते हैं
जब जी मुहाल कर देता हूँ उनका मैं
तो हँस कर कहते हैं
"और वजह क्या हो सकती है तुम्हारे सिवाय?
मैं तुम ही हूँ
अलग कहाँ हूँ मैं तुमसे?
बस तुम अलहदा हो सोचते हैं
मैं तुझमें जीता हूँ।"
हर बार जबाव यही होता है
और डरता हूँ मैं
मगर जानता ये भी हूँ मैं
कि इन सवालों में ही
सुकून अपना ढ़ूँढ़ता हूँ मैं।
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जरूरी नहीं
हर तस्वीर साफ ही हो ये जरूरी नहीं
जमी मिट्टी भी मोहब्बत की गवाही देती है।
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मैं भी कभी हो बेसुध, नीड़ में तेरी सोता था
बात मगर तब की है, जब माँ तुझे मैं कहता था।
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मोहब्बत में फकीरी है बड़े काम की
दिल को दिल समझ जाए तय मुकाम की॥
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क़त्ल-ओ-गारद का सामान हर हम लाए हैं
तू चाहे खुदा बन या मौत ही दे दे मुझे।
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हर आदमी यहाँ खुदा हो जाना चाहता है
कि कोई सवाल ना करे सवाल उछालना जानता है।
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राजीव उपाध्यायमैं जानता हूँ माँ!
जिन स्वर लहरियों पर गुनगुना तुमने कभी सीखाया था
वो आज भी अधुरे हैं
कि नाद अब कोई नहीं।
हर ध्वनि जो अब गूँजती
तुम तक क्या पहुँचती नहीं?
या अनसुनी कर देने की कला भी तुम जानती हो?
काश तुम कुछ ऐसा करती
कि संदेश हर तुम तक पहुँचता
या फिर तुम ही कोई पाती पठाती
कि कहानियों में तेरे कुँवर बन
घोड़े को चाबुक लगाता।
नहीं
मैं जानता हूँ माँ!
कि अब तुम कुछ कर सकती नहीं
कि खेल के नियम बदलकर
आगे बहुत निकल गई हो
कि लौटना जहाँ से
अब कभी मुमकिन नहीं।
हाँ हो सके तो कुछ देर तुम इन्तजार करना
मैं भी आऊँगा राह तेरे
आज नहीं तो कल सही।
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मैं भी कभी हो बेसुध, नीड़ में तेरी सोता था
बात मगर तब की है, जब माँ तुझे मैं कहता था।
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राजीव उपाध्याय
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