Thursday, April 20, 2017

Non Compliance - impediment to growth

"I have found that, in the composition of the human body as compared with the bodies of animals, the organs of sense are duller and coarser. Thus, it is composed of less ingenious instruments, and of spaces less capacious for receiving the faculties of sense."
—Leonardo da Vinci (Italian, 1452-1519)
Word for the day
Avarice (n)
Insatiable greed for riches; inordinate, miserly desire to gain and hoard wealth.
Malice towards none
BJP and Congress are the same side of the same coin.
It is just that BJP is currently in its Indira Gandhi (1971) phase, and Congress is BJP of 1984.
I just dread to imagine "what would be the Ram Temple" for Congress revival?
First random thought this morning
In spite of all the reforms in energy sector, and massive reduction in petroleum product subsidies, and high dividend policy, ONGC stock price is down about ~30% from its 2014 highs.
At the same time with all its attendant problems of low growth and high NPLs, SBI is just 15% lower from its all time high seen in 2010.
Is it an anomaly in pricing or collective wisdom of market is telling to go short on energy stocks like ONGC and Coal India.
Non Compliance - impediment to growth


When you see these pictures, what comes to your mind first.
Are these funny? Are these worth appreciating? Do they highlight the quintessential Indian character? Do you care?
Now tell me—
·         Have you heard of anyone protesting or suing Amir Khan for openly desecrating the historic Red Fort, a heritage building in movie PK?
·         Did you find engineering students drinking alcohol in college campus in 3 Idiot, acceptable?
·         Did you find Amir Khan riding a scooter in the critical care ward of a Hospital acceptable?
·         Did you noticed that Salman Khan is romancing on a motorbike without wearing a helmet?
·         Did you find this overloaded lorry in Fevicol advertisement impressive or funny?
·         Did you ever thought of complaining about the famous and celebrated Mumbai Dabbawallahs blocking traffic, causing inconvenience to passengers in local trains, or you find it regular or rather part of a great service to the nation?
·         Does the latest TV advertisements of Sporto sportswear and CEAT tyres, that describes Indians as incorrigibly non-compliant, offend you, or you would just laugh it off?
Last week I sent these photographs to 50 people, randomly selected from my contact list, for their comments on these pictures. The mail was sent without any preamble. The results of a second survey on Whatsapp are awaited.
No surprises there. None of the respondents pointed out any problems with these pictures.
28 respondents just found the pictures funny and answered in LoL emojis. 3 respondents said, Amir Khan is any day better than Salman Khan. 5 respondents have asked who is the actor jumping the road divider and dancing in front of the motorbike. Two of them also wanted to check whether there is Govinda amongst the Dabbawallas' group seen in the given picture.
14 respondents have answered with just "???"
The respondents include professionals working with MNC banks, large IT firms, infra developers, exporters and Indians working in foreign countries as senior managers. 20 are women. All are in 35-50yr age bracket.
The point in case is that "compliance" does not appear to be high on priority agenda of even most educated, wealthy and responsible citizens.
In my view, this indifference towards civic and regulatory non-compliance, and admiration for "Jugaad" is one of the top impediments to achieving sustainable high economic growth in India.
The current government should be credited with identifying the problems and taking some baby steps in direction of their resolution....to continue.
Read with the following

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