"If you want the
present to be different from the past, study the past."
—Baruch Spinoza (Dutch,
1632-1677)
Word for the day
Indignant (adj)
Feeling, characterized by,
or expressing strong displeasure at something considered unjust, offensive,
insulting, or base.
Malice towards none
What was the nationality of
the lineal descendants of "Babar - the invader", who were born and
died in Hindustan?
Is there anything on record
to indicate that they plundered any wealth from Hindustan to enrich a foreign
land, or jeopardized the "National" interest for personal gains.
Please keep religion out of
this for one moment.
First random thought this morning
I am astonished to note that Ita Nagar was listed amongst the
dirtiest cities in India.
I last travelled to Arunachal Pradesh eight years ago. I found the
entire State very clean and people extremely sensitive to the Nature.
I do not what is wrong here - either the city has seriously
de-generated or the process of evaluation is flawed/corrupt.
The land of opportunities
The assembly elections in the state of Uttar Pradesh (UP) are one
year away. However, given the critical importance of the state for BJP and also
for those aspiring to put up a united opposition to BJP in 2019 general
election, the State shall assume the center stage very soon.
If we go by the experience of the last elections in Bihar, the
financial markets will engage in UP elections even more intensely.
If you pardon my audacity, I may say that - if we go by the
experience of the last elections in Bihar, the engagement of the financial
markets in UP elections may also be frivolous, superficial and unwarranted.
Some of my colleagues recently undertook an expansive tour of the
state. What they have seen, makes me confident that the state is ready to
assume its rightful place as the primary engine of Indian economy in next two
decades or so, irrespective of the fact who is at the helm in Lucknow or New
Delhi.
In my view, without bothering too much about the political process
and complexities, investors may consider factoring the following facts and
trends in their investment strategies.
First some widely known but still relevant statistical facts about
the state:
(a) Over 16% population of
India calls UP home, but UP's economy is just 8% of national economy.
Accordingly, per capita income of UP residents is about half of the national
average.
(b) About 30% of UP
population lives below poverty line, the largest in India. Thus, the income
inequalities and concentration of wealth is also higher in UP, as compared to
the national averages.
(c) UP has the highest
population density amongst the larger states in India, but only one fourth of
its population lives in urban areas. The state has over 45mn urban dwellers,
but there are only six cities with million plus population. The largest city
Lucknow hosts ~3mn people. Even villages of UP are crowded as per national
standard.
(d) The population of the
state is younger, more productive and more literate than the national average.
(e) The share of industry
and manufacturing in the state economy is less than 12%; the balance being
divided equally amongst agriculture and services.
(f) UP is the largest
producer of milk and sugar cane in the country and second largest producer of
vegetables.
(g) UP economy has grown
at a faster rate than the national average in past three years.
These statistical facts juxtaposed to our observation create some
amazing investment opportunities, in my view.....to continue tomorrow
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