Thought for the day
"The liberty of the individual is no gift of
civilization. It was greatest before there was any civilization."
-
Sigmund Freud (Austrian, 1856-1939)
Word for the day
Gregarious (adj)
Seeking and enjoying the company of others.
(Source: Dictionary.com)
Teaser for the day
Should the government take a step back on Land Bill or stay
put?
Should
we wait for the cows to come home?
In October 2014 I cautioned against
relying too much on PM's luck for investment gains. It is reasonable to believe
that after 15yrs in power, PM Modi will eventually run out of luck some day.
The point to ponder is "Do we need to provide for
contingency now or may wait till the cows come home, like our Public Sector
Banks do?"
Many events have occurred in past one month that are noteworthy.
The delirium arising from high ICC World Cup fever should not obliterate the
sight of these events. For example,
·
After failing to secure a simple majority on its
own in Maharashtra, Jharkhand, and J&K, BJP suffered a demoralizing defeat
in Delhi assembly elections. It is important to note that -
o
It had to put aside the acrimonious election
campaign in Maharashtra to form a sweet 'n' sour coalition with its natural
ally SS;
o
In Jharkhand it initially formed a tentative
government with AJSU, but to have stability it had to absorb the breakaway
group from bitter rebel Marandi's party;
o
In J&K it is reportedly climbing down from
demand of rotation CM and also compromising on core issue of Article 370 to
form a coalition with PDP;
o
In Andhra Pradesh BJP is an inconsequential
coalition partner of TDP. Recently, the relations have soured over BJP's
contemplation to invite the rival TRS to join NDA government at center.
o
In Punjab also BJP is an inconsequential partner
of SAD and relations have been worsening at local level due to poor performance
of the coalition state government.
o
In Bihar, the Manjhi fiasco has certainly
dampened the spirits of local unit and is also likely to assembly elections due
later this year.
o
The by-poll results in UP post May' 14 have not
been encouraging.
o
The three term MP chief minister is consistently
under attack for various irregularities and scams.
o
In Delhi it's local unit is already showing deep
concern about the municipal elections (still two years away).
·
The Brent crude price is already 33% higher from
the US$45/bbl it touched in January 2015.
·
To test the resolve of the finance minister, the
former RBI governor Bimal Jalan has proposed violation of red line on fiscal
deficit drawn under FRBM Act.
·
The incumbent RBI governor has not hesitated a
bit in invoking "Hitler", in what is being seen as a veiled warning
to the PM himself. Bad Omen!
·
Food prices have obdurately refused to fall
despite whatever effort the government has made.
·
The recent Petrogate corporate espionage case
will certainly sour the relationship between the government and some top
industrialist. The "feel good" may "feel little less good"
in Mumbai. The reputable Deepak Parekh has also hinted at diminishing feel good
last week.
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