"The higher a man
stands, the more the word vulgar becomes unintelligible to him."
—John Ruskin (English,
1819-1900)
Word for the day
Skullduggery (n)
Dishonorable proceedings;
mean dishonesty or trickery; bribery; graft; an instance of dishonest or
deceitful behavior
(Source: Dictionary.com)
Malice towards none
India could simply blame
Pakistan for every act of terrorism on her soil.
But it's not easy for
Pakistan.
In fact, in most cases,
Pakistani establishment may end up blaming itself for the act of terrorism on
their soil.
First random thought this morning
It has been a usual practice in India to put pictures or idols of Gods
in staircase and on outside walls of properties to dissuade passerby from
spitting and urinating on the walls.
I find a similar pattern in invocation of names of Ambedkar and
Gandhi by the politicians these days. These two names are being frequently (mis)used
to dissuade any kind of opposition to their respective ideas and arguments.
The funny part is that since no one appears to be an actual
believer in strength of this Shield, they may not be using it when needed most.
Make hay when sun is shining!
In spring of 1992, soon after completing my education and
training, I had my first tryst with the world of trade & commerce. It was
the time when PVNR led government had just begun to unshackle the Indian
economy from the clutches of pseudo socialist regime that worked under material
influence of feudal lords and capitalist cronies. Many landmark events took
place in the ensuing years.
I would in particular like to highlight three of those events -
(a) Private competition for the civil aviation monopolies Air India (Overseas)
and Indian Airlines (Domestic); (b) Private competition for the twin telecom
monopolies MTNL (Delhi & Bombay) and BSNL (Rest of India) and (c) Private
competition for monopoly fund manager UTI.
How these monopolies ended in ruins is there for everyone to see.
BSNL that was reportedly valued at Rs1trn as late as 2007, is a cash guzzler
today, so is MTNL and Air India. UTI survives in a miniature version of its old
self.
In the events of past 2-3years, I see 1992 occurring all over
again.
·
Private competition in power equipment
manufacturing is diminishing the stature of public sector behemoth BHEL. The
day may not be too far when this cash cow will start reporting loss and
guzzling cash.
·
The commercial mining of coal is being
experimented in a small way. I do not see why Coal India should not go the MTNL
or Air India in next 10-15yrs, given its bloated cost structure, strong unions,
bureaucratic management setup and peaking demand for coal as a preferred fuel.
·
The government is making sincere efforts to
boost local production of defence equipment by engaging domestic and foreign
manufacturers. This will seriously undermine the dominance of companies like
BEL and BEML.
·
It may look little farfetched at this point in
time, but I do not mind imaging demise of public sector banks from number 11 to
27 in next two decades. (I am leaving the top 10 just out of the fear that my
readers may find me insane and stop reading further.)
The point I am trying to make that the government and trade unions
(IDBI union please note) need to draw a lesson from the past experience.
The government should seriously consider selling larger stakes in
these large institutions and let these reinvent themselves to stay competitive
in the evolving scenario where global competition in domestic markets is going
to intensify manifold.
The trade unions should actually be asking the government to initiate
steps to professionalize these valuable institutions to safeguard the future of
their kids. They need to realize and accept that by resisting the change they
can save their jobs (with no growth whatsoever). But by adapting to change they
can seek growth in their career and ensure a better future for their future
generations.
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