Fiscal Stimulus Must Have to Succeed

It is expected that in today’s address to the nation, the Prime Minister would present the action plan and timeline which will provide fiscal stimulus to the economy for bring back the economy on the track. RBI is already taking actions through many monetary policy instruments to maintain the liquidity in the economy as well as a favourable exchange rate. SEBI is also taking actions to contain the volatility in the stock markets. It must be noted that current stock market crashes are nothing but the panic response to the crisis brought by the unexpected outbreak of Coronavirus pandemic from the corporate sector as well as the investors. But it would be a temporary phase. Once the economic activities start tending back towards the normal, the losses in stock market will be recovered in a month or two. Investors just need to remain invested (if invested in good stocks).

Coronavirus Pandemic: Extraordinary Hours Require Extraordinary Efforts

Please observe and support today’s Janta Curfew. There should be no confusion in this. It is for us and our family and dear ones. As of now, through this social distancing and lockdown only we can serve for the humanity. As citizens now it’s our primary duty and we must make it successful. No excuses. Even if this lockdown (Janta Curfew) is extended we should welcome it whole heartedly!

On the other hand the government must have to scale up and fasten medical facilities such as testing labs and ventilation equipment for fighting and containing this Coronavirus pandemic. Also it must have to be understood that in this hour of extraordinary crisis, the vulnerable sections of the society (daily wages earners and SMEs) are most exposed to and these need fiscal support from the government. Implementing Universal Basic Income (UBI) is the only and the most appropriate tool in the hands of government for speedy response irrespective fiscal deficit. Without doubt, the fiscal deficit will increase but that is a short term consequence and a little cost to keep up the economic activities and consumption.

फाँसी पर सवाल क्यों

आज अंततः सात साल के बाद निर्भया के दोषियों को देर से ही सही परन्तु सजा मिल गई। निर्भया के माता-पिता की ये लड़ाई ना सिर्फ उनके लिए बल्कि पूरे समाज के लिए ही बहुत ही लम्बी एवं अंदर तक तोड़ देने वाली लड़ाई साबित हुई है। इसलिए लोग खुश हैं। उनका कानून पर विश्वास मजबूत हुआ है क्योंकि निर्भया के गुनाहगार बार-बार किसी ना किसी कानूनी पेंच के कारण फाँसी के फँदे से बचते जा रहे थे जो पूरे समाज के लिए भयावह था। परन्तु इसके बाद भी निर्भया के गुनाहगारों के फाँसी का अनेक तर्कों एवं तथ्यों के आधार पर विरोध हो रहा है। कहा जा रहा है कि मृत्युदंड से अपराध कम होने का कोई वैज्ञानिक साक्ष्य नहीं है। साथ ही पिछले सालों में देश में बलात्कार की घटनाएं बढ़ी हैं! कुछ लोग तो ‘इन नौजवानों के जीने के अधिकार’ की बातें कर रहे हैं; तो कुछ लोग लोगों के खुश होने पर सवाल कर रहे हैं। पता नहीं इन प्रश्नों का क्या उत्तर दिया जाए? हालाँकि ये जश्न का नहीं वरन मौन और विचार करने का समय है।

Book Review: On Entrepreneurship and Impact - Desh Deshpande

Entrepreneurship is an adventure which attracts so many but very few could actually commit themselves to it because of the uncertainty associated. There is an ocean of books on entrepreneurship by professors and many successful entrepreneurs on this subject with real life experiences and wisdom. So it is a question how this book is useful and stands in the ocean!

Desh Deshpande is a serial entrepreneur having founded many successful start-ups. In this book summarizes those experiences by keeping the needs of the entrepreneurs in mind than academics. So the language is simple and the words have been used wisely to communicate the very subject very clearly but don’t offer a ready-made solution anything but advice as how to tread the water. It explains how and why a social entrepreneur needs to ensure the engagement with the general public and local participation for creating sustainable solutions as well as sustainable organizations.

कोरोना, गोमूत्र और उपहास का कॉकटेल

पिछले कुछ दिनों से जबसे भारत में कोरोना वायरस से संक्रमित मरीजों की संख्या बढ़ने लगी है, गोमूत्र पुनः चर्चा में आ गया है। कुछ लोग गोमूत्र सेवन को कोरोना से बचाव का उपाय बताते हुए गोमूत्र पार्टी का आयोजन कर रहे हैं। कुछ इस दावे का उपहास उड़ा रहे हैं। वहीं पर कुछ लोग ऐसे भी हैं जो इन दावों के उपहास के आड़ में उन प्रतीकों का भी अपमान कर रहे हैं जिनसे हिन्दू समाज की भावनाएँ जुड़ी हुई हैं।

Lakshmi Vilas Bank: Next in the List of Failing Banks?

As usual, Lakshmi Vilas Bank, one of the oldest banks in India, is in the mode of denial that the bank is under huge pressure because of many key financial indicators of the bank sliding towards extreme negative side. However Reserve Bank of India (RBI) has already put it under Prompt Corrective Action (PCA) framework in Sept 2019 on account of high net NPA, insufficient Capital to Risk (Weighted) Assets Ratio (CRAR) and Common Equity Tier 1 (CET 1) and negative return on assets (RoA) for two consecutive years and high leverage.

Financial Stablility & Development Board should Intervene Now

Nifty has hit lower circuit as it has fallen by more than 10%. Same is true for Sensex too. So trading has been halted for 45 minutes on Indian stock markets. But considering the situation arising due to Corona, it would not enough. SEBI along with other regulators should come together and decide to suspend trade for longer. Financial Stability & Development Council (FSDC) should take over and intervene. May be for days! The kind of panic that has been generated around Corona is not going subside in few minutes only. Allowing trade in this condition may erode the confidence to such an irreversible level that would be very difficult to revive the confidence back.

ज्योतिरादित्य सिंधिया और भाजपा: रिस्क और रिटर्न का ट्रेड ऑफ

अंततः माधवराव सिंधिया के बेटे ज्योतिरादित्य सिंधिया ने महीनों की कयास के बाद कॉग्रेस को ना सिर्फ अलविदा कह दिया है बल्कि अपने लिए भाजपा के रुप में नया घर भी चुन लिया है। मैंने शुरुआत में ज्योतिरादित्य को माधवराव का बेटा इसलिए कहा कि किञ्चितरुप से 18 साल के अपने राजनैतिक यात्रा के बाद भी अब तक ज्योतिरादित्य माधवराव के कद तले ही खड़े थे। शायद ज्योतिरादित्य का ये निर्णय भविष्य में ज्योतिरादित्य को अपनी पहचान बनाने में मदद करे। हालाँकि कि भाजपा जैसी कैडर वाली पार्टी में उनके लिए रास्ता आसान नहीं होगा। किसी भी कैडर वाली पार्टी का एक निश्चित संस्कार और शब्दावली होती है जो अक्सर बाहरी व्यक्ति के लिए एक अबूझ पहेली सी होती है। ज्योतिरादित्य को इस पहेली को ना सिर्फ समझना होगा बल्कि इस पहेली को और भी रहस्यमय बनाना होगा।

Coronavirus: Why a Fear Frenzy Behaviour?

Because of the peculiar nature of the Coronavirus caused influenza, the movement of goods and human capital is going to be adversely affected in the world economy as a result of the falling human confidence at global level. The news related to Coronavirus have made human psychologically afraid about this particular flu which is not uncalled for. As a result, the oil and stock prices are now free falling across the globe. In India, Sensex has fallen by more than 5000 points in a few days. Same is true with global stock market. Most importantly, none knows where it all will stop?

Yes Bank Failure: A Collective Failure of Regulators

The arrest of Rana Kapoor by Enforcement Directorate (ED) after hours of questioning and the problems arising at Yes Bank are not something that are related to the problems at Yes Bank only. It is part of a bigger story and is result of collective regulatory failure. News are not talking that ED is expected to question Rana Kapoor’s wife too in the same case. These incidents at Yes Bank are not just related to Yes Bank only and stray events but also have direct links to scams and ongoing high profile investigation in DHFL case. In case of DHFL many financial institutions and individuals (celebrities and professionals) are said to be involved to varying degrees.