MY VIEWS IN TIMES OF INDIA ON CONSOLIDATION IN BANKING SPACE

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.24.11.12 10:18 PM

Your comment on the article ''Some consolidation in banking space inevitable: FM'' is now displayed on timesofindia.com.

''Keeping in view the BASEL III requirements of capital Adequacy, the fast pace of soaring NPA, the unnecessary competition among the banks involving avoidable expenditure, the expected growth in credit needs of corporate and infrastructure sector to sustain average 7-8% growth in GDP and such other reasons, the consolidation in Indian banking space looks worth considering. The then FM, Mr. Mukherjee , in his first meeting with the PSB chiefs after taking charge as the finance minister just after the 26/11 Mumbai attacks, had said, "consolidation of Banks might be needed to improve the global competitiveness of Indian banks and to reduce the risk to financial stability. Any consolidation initiative in the banking sector would be viewed positively and government, as a majority shareholder, would continue to play a supportive role in the process”. The Trade and Industry Associations do favour the proposed initiative for consolidation to have at least few banks far bigger than SBI to qualify to be globally competitive. Rightly or wrongly, the talk of consolidation is seen with lot of apprehensions and fear which FM has himself indicated by saying,"we should not fear consolidation." Yes, it would be a good idea if the initiatives for consolidation among a few PSU banks emanate from the management of such banks themselves (after discussing the issue in-house thoroughly) with Government playing a supportive role as the common stakeholder.''

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India 

Shobha Dey's article : Unpalatable fruit salad
October 14,2012 at 11:09 AM IST

Excellent piece of writing. Yes, many such Bros are enjoying life without any fear or shame. Our systems are so favourable for such people that they dare to take it for a joyful ride now & then. Shouldn't the upright officers in different services(still, I feel, they are in good numbers) ensure execution of even the existing laws more forcefully and speedily? This alone can make a lot of difference in lowering down the number of scams in the country.

                                                           Will meet again with Open Mind. All the Best.

# Do visit my site : milanksinha.com

MY VIEWS IN ECONOMIC TIMES ON SELECTION OF IRDA CHAIRMAN & ON BAD LOANS OF BANKS

Economic Times Story on 23.11.12 : 30 applicants in race for post of Irda chairman

Comments of MILAN K SINHA (PATNA)
23 Nov, 2012 11:46 PM

    The selection of IRDA chairman is going to be an important news in the financial market for several reasons. According to a report, India is expected to emerge as the 3rd largest life insurance market in the world by 2015, only after China and Japan. At present, India stands 12th among the top markets for life insurance. With an annual growth rate of 15-20% and the largest number of life insurance policies in force, the potential of the Indian insurance industry is huge.Further, only 20% of the total insurable population of India is covered under various life insurance schemes with a penetration level of 4.5% of GDP. The penetration rates of health and other non-life insurances in India is also fairly low.These facts do indicate that there is immense scope for growth in insurance sector. With cabinet decision to hike FDI cap in Insurance sector for greater participation of foreign players in coming days, it is all the more necessary to select a person as IRDA chief with highest integrity & professional skills/expertise so that he can provide genuine leadership, guidance and support to Insurance players, both new and old, in Indian insurance market. But, to ensure that to happen in a transparent and professional manner, it is desirable to have the most competent selection committee comprising wellknown & renowned professionals from insurance & other financial sectors and not the bureaucrats(In general, they are Jack of all trades but master of none) from the ministries.

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Economic Times Story on 22.11.12 : Bad loans of state-run banks are Rs 1.43 lakh crore as of September

Comments of MILAN K SINHA (PATNA)

22 Nov, 2012 11:58 PM

      Yesterday RBI Deputy Governor K C Chakrabarty reported to have hold the corporate squarely responsible for a major part of the rising bad loans. By saying this, he has, in turn accepted that the whole system of credit dispensation, follow up, monitoring & recovery by the Banks in the country under the leadership & guidance of RBI & Ministry of Finance failed to perform & deliver. There can't be a more simplistic explanation on the menace of ever growing NPA of Banks like this. In fact, bad loans in our Banking system is mainly the result of multiple political as well as economic factors coupled with inability of the authorities to recover the dues quickly from the defaulters, especially big wilful defaulters. In a recent communication RBI itself said that Banks in the country need to strengthen their due diligence and credit appraisal system along with overall monitoring mechanism to contain the rising bad assets seen in the banking system. Notwithstanding, during the last two quarters in the current fiscal Banks have registered whopping 86% increase in non performing loans which impacted the pricing of its products, both deposits as well as credit. So, the need of the hour is to introspect & analyse the malaise very objectively and find and adopt more effective mechanism to manage NPA on an on going basis without fear or favour.

                                           Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON ROAD TRAFFIC & ON CONVICTION RATE

Comments of MILAN K SINHA (PATNA) in 
The Times Of India dt.21.11.12 

Dear Reader,

Your comment on the article ''Road traffic critical concern for citizens'' is now displayed on timesofindia.com.

'The road traffic indiscipline will not come down until and unless the authorities appreciate the growing problem in almost all cities, big as well as small, in the country in its totality. The population is increasing fast and so is the number of vehicles of all sorts on the roads which has not been widened proportionately with adequate provisions for vehicle parking. The by- pass roads have also not come up in sufficient numbers. More over, traffic management has not improved to tackle the menace effectively, particularly in peak hours, rather it has deteriorated with dilution in compliance of rule of law by the law makers themselves. To say, the indiscipline can be curbed if the aforesaid problems are addressed and police acts to punish the wrong doers as per the law without fear or favour.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.14.10.12

Dear Reader,
Your comment on the article, "Exposes need convictions & radical systemic reforms to have impact"  is now displayed on timesofindia.com

   It is no denying the fact that crooks of all sorts are now enjoying taking the system for a playful ride. We have hundreds of laws but those are to used or misused in respect of 'mango masses' and not at all in case of special(khaas) creamy & powerful people. Ironically, our conviction  rate is also among the poorest and it has dipped further- it was 65% in 1961 but now it is less than 60%. The conviction rate in China is 98% and in Japan it is said to be 99%. And that is another  great reason of their faster development in all major sectors.

Thanks for sharing your thoughts, and keep up the good work!

Regards,Team TOI

MY VIEWS IN ECONOMIC TIMES ON RISING NPA & ON RTI

Economic Times Story on 21.11.12 : RBI directs banks to share information to check rising NPAs 

Comments of MILAN K SINHA (PATNA)

21 Nov, 2012 10:54 PM

   Reiterating its earlier directive to Banks to share information on credit exposure among themselves should be welcomed but is it sufficient to ensure its compliance by Banks as it happened in the past despite RBI's similar directive in 2008. The monster named NPA in large advances is the creation of multiple politico-economic factors coupled with Govt's inaction to punish the wrong doers both at corporate as well as at Bank level. This naturally results in huge increase in bad loans of majority of Indian Banks thereby making the entire Banking as a high risk sector. Unfortunately, during the last two quarters in the current fiscal Banks have registered whopping 86% increase in non performing loans which impacted the pricing of its products, both deposits as well as credit. Naturally, the effectiveness of whole credit dispensation process, particularly in case of large credit, must be looked into case by case very discreetly & objectively by a team of experts, without fear or favour, to safeguard the interest of stakeholders of Banks in the country.

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Economic Times story on 15.10.12 : RTI by itself cannot combat corruption, reforms needed
Comments of Milan K Sinha (PATNA) 
15 Oct, 2012 11:04 AM

     It is rightly opined by Madhuji. We claim to be a matured soverign republic of more than six decades old, having many laws, many law enforcing agencies and thousands of officers for ensuring execution & compliances. But, the hardships of the common man have been mounting & mushrooming over the years. The impact of this worsening political situation is noticeable in every sphere of our public life. Notwithstanding, there is a ray of hope. We still have lot many upright officers working for the government at different levels. If the rules are administered properly with adequate check & balances and compliances are ensured atleast by these upright officers even within their legal limitations, there would be visible positive changes in the existing system within a short time.

                                                           Will meet again with Open Mind. All the Best.

ACTION, INTERACTION, REACTION KEEP US GROWING

                                                                               - By Milan K Sinha

      By nature, we all love to meet and interact with people we know because we are social human being. At the same time, one tend  to learn to interact with people one doesn't know but  whom one long for reaching to know and  tell him/her about one's own story and then learn what the other person is doing/thinking. The idea is to interact well to find out  the areas of common interest or otherwise. Facebook, E-mail, video conferencing etc.are some other modern means to stay in touch with friends and relatives and even create relationships with people one has not yet met. Carl Gustav Jung rightly says, " the meeting of  two personalities is like the contact of two chemical substances, if there is any reaction, both are transformed."

Please have a glance on what the following persons are to say on the subject:

• An employee's motivation is a direct result of the sum of interactions with his or her manager.-- Bob Nelson 
• Human kindness,warmth,interaction,friendship and family are far more important than anything that can come across my cathode ray tube.-Clifford Stoll.
• The exercise of power is determined by thousands of interactions between the world of the powerful and that of the powerless, all the more so because these worlds are never divided by a sharp line: everyone has a small part of himself in both. -- Vaclav Havel 
• When interacting with others within your business environment, be happy, since this will encourage and inspire people to work with you.--Mitch Thrower
• The strength of a society depends upon the presence of points of contacts, possibilities of interaction between different groups that exist in it. These are what Carlyle calls 'Organic filaments', i.e. the elastic threads which helps to bring the disintegrating elements together and to reunite them. -- Unknown
• Invite the people you want to do business with or work with into your home environment and it will improve the quality of your interaction and increase the depth of your relationships.--Mitch Thrower

      Interaction involves both social and personal inputs such as ideas, emotions, creativity, innovations, information, new thoughts, areas of work & interest etc. which taken together is nothing but a growing human process with regular value addition. So, the more the people meet, talk and interact with one another, may be in a meeting, a conference, a convention, a discussion or a normal interface, the larger would be the scope of strengthening the democratic & secular set up of the country as Walt Whitman  says in other words,"Did you, too, O friend, suppose democracy was only for elections, for politics, and for a party name? I say democracy is only of use there that it may pass on and come to its flower and fruit in manners, in the highest forms of interaction between [people], and their beliefs -- in religion, literature, colleges and schools -- democracy in all public and private life....”   
                                                  Will meet again with Open Mind. All the Best.

* Do visit my site : http://www.milanksinha.com/

MY VIEWS IN TIMES OF INDIA ON PREVENTING SUICIDE & ON SLEEP NEED

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.18.11.12 

Dear Reader,
Your comment on the article ''Set aside 50 lakh a year to prevent suicides, IITs told'' is now displayed on timesofindia.com.

''Yes, counselling is essential for such depressed & over stressed students. Every morning you notice some reports in the newspaper on suicide deaths in different parts of the country. Let us first see the hard facts related to this growing menace in our society. Reports say, ”Suicide in India is slightly above world rate. Of the half million people reported to die of suicide worldwide every year, 20% are Indians. In the last two decades, the suicide rate in India has increased from 7.9 to 10.3 per 1,00,000 population. In a study published in The Lancet in June 2012, the estimated number of suicides in India in 2010 was about 187,000    ( 21 deaths every hour) of which 71% are by persons below the age of 44 years. This is a serious cause of concern which imposes a huge social, emotional and economic burden.Try to practice, in whatever manner & magnitude you like, the prescriptions of Swami Vivekananda, the great role model for Indian youth who lived in this world for only 39 years but could leave an indelible imprint on the soul & minds of millions of people world over. Swamiji says,” Be generous in prosperity and thankful in adversity. … Be a treasure to the poor, an admonisher to the rich, an answerer to the cry of the needy, a preserver of the sanctity of the pledge . … Be a lamp unto them that walk in darkness, a joy to the sorrowful, a river for the thirsty, a haven for the distressed, an upholder and defender of the victims of oppression. …Be a home for the stranger, a balm to the suffering, a tower of strength for the fugitive…. Be eyes for the blind and a guiding light unto the feet of the erring….''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA (PATNA) in 
The Times Of India dt.19.10.12

Dear Reader,
Your comment on the article ''Don't miss even 2 hours of sleep!'' is now displayed on timesofindia.com.

''With the changing world and with the advent of LPG (Liberalisation, Privatisation & Globalisation) in our country too, the natural character of our daily routine underwent changes for the worse, particularly for our urban population.The reasons may be many and may also seem to be genuine and compelling, but the ultimate sufferer in the whole process of this so-called modern life style is our greatest tranquilizer: Sleep. Obviously, changing the natural course of life at will , doctors opine, affects not only our health but also the health of our family since it has multi dimensional impact on our life. Sleep deprivation is one such casualty of today's fast life which has great negative physiological and neurobehavioral consequences. Several medical research findings too have proved beyond any doubt that much of our body's regeneration processes take place during those sleeping hours. Let us see what William Shakespeare says in Macbeth,"Sleep that knits up the ravelled sleave of care.The death of each day's life, sore labour's bath.Balm of hurt minds, great nature's second course,Chief nourisher in life's feast."

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

                                                      Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON SAVE GANGA & ON CASINO BANKING

Comments of MILAN K SINHA (PATNA) in
The Times Of India dt.18.11.12 at 07:48 PM

Dear Reader,
Your comment on the article ''Subbarao against 'casino banking'' is now displayed on timesofindia.com.

''The RBI Governor is absolutely right in his assertion. Our country is different from any other country having unique opportunities and problems. Hence, we can't afford to look for a copy - paste solution. Banking has been a major instrument of social - economic change in our country and it has to consolidate its position to remain healthy in real terms and ensure inclusive growth to serve the Indian society at large. We all know that the major reforms in Indian Banking space, of course after nationalisation of 14 Banks in 1969, was based on the recommendation of Narasimhan Committee (1991). Important initiatives, such as putting in place the concept of new accounting & prudential norms relating to Income Recognition, Provisioning and Capital adequacy in line with international banking practices, were taken. The norms for entry of private & foreign banks were also relaxed. Consequently, a paradigm shift in the functioning of Indian banks started taking place thereby necessitating adoption of technology as the main enabler of tomorrow's banking. Naturally, the entry of new generation private & foreign banks in the Indian banking market with the state-of - art technology, compelled the PSU banks also to fall in line to take care of efficient management of its liabilities, assets, capital and ever growing risks. But, while appreciating the gains of Indian Banks in general during these years, there are many avoidable disconnects between promises and actual delivery of product & services to the growing number of more aware customers of today. So, when the process of issuing new licenses is being looked into, it is also time to pause, ponder & review the areas of disconnects & serious concerns, including NPA management for better banking in coming days.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI

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Comments of MILAN K SINHA in 
The Times Of India dt.18.10.12

Dear Reader,
Your comment on the article ''Save the Ganga: Failure to preserve the river will undermine India's future industrial growth'' is now displayed on timesofindia.com.

''The story is a real eye opener. For that matter all our rivers including Yamuna , Brahmaputra, Mahanadi to name a few are very polluted as sewage, trash,food,animal remains & industrial wastes containing toxic chemicals are dumped in large quantities. The pathetic state of huge population suffering from water borne diseases are seen to be believed particularly those living in rural areas along the banks of these rivers.Various water borne diseases affect them most resulting in large number of deaths every year. To say, water borne diseases, Diarrhoea, Cholera, Malaria, Japanese Encephalitis & Filariasis, cause more than 18 lac deaths annually. Moreover, due to ground water contamination as a result of interaction between ground water & unclean surface water, situation has become further grave. It is interesting and worth noting (for our planners & Govt. functionaries at least) that the overall cost of making provision of clean drinkable water to one & all in the country is lesser than cost on providing the multiple heath related benefits in this regard. In nutshell, to control this growing menace of water pollution, urgent corrective measures are required to be taken on highest priority by all concerned in an integrated & concerted manner for ensuring both industrialisation as well as cleaner environment including our rivers.''

Thanks for sharing your thoughts, and keep up the good work!
Regards,Team TOI
                                                    Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON FISCAL DEFICIT ....

Economic Times Story on 16.11.12 : Government may struggle to meet fiscal deficit target, credibility at risk

Comments of MILAN K SINHA (PATNA)
16 Nov, 2012 08:16 PM

The Central Govt. is perplexed and standing on the cross roads in utter confusion. All sorts of prescription coming from internal and external experts, party bigwigs, babus in finance ministry and UPA election managers will be tried to achieve the revised percentage of fiscal deficit by adopting short cut methods instead of making consorted efforts to push all possible measures of fiscal consolidation. We all know about the mismanagement in subsidy delivery mechanism, whether it is oil subsidy or food subsidy, and the ground level malpractices prevailing all over the country in this connection. The benefits of subsidy meant for the targeted section of society are not accruing to them to a large extent, which the government is quite aware of. The rising government expenditure is another area where much can be done by honest and sincere administrative measures. All wasteful expenditures can be stopped forthwith and austerity measures initiated across all departments/offices starting from the office of president and prime minister. After all, the Indian democracy has not issued any license either to political high ups or any Govt. functionary to enjoy all the luxuries & comforts of life at the tax payers money and continue to preach the common man to live in poverty and hardship for year after year.

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Economic Times Story on 21.10.12 : Are companies adventurous enough to let their best employees work from afar?

Comments of MILAN K SINHA (PATNA) 

21 Oct, 2012 01:06 PM

This should be a novel idea for all corporates in India to emulate for all those employees who attend the office without requiring any interface with the customers or the supervisor. This would be panacea for many of our ills such rising cost of office space, traffic congestion, wasteful commutation time, savings on fuel consumption etc. In consequence, the employee can devote more quality time to accomplish the job as well as keep oneself healthy & cheerful. As the technology has changed the whole scenario of office culture mainly in IT companies and in back office working, we better adopt this idea in a big way together with shifting the offices 30-40 km away from the metropolitan and bigger cities which are having growing problems of many kinds, at least in our country.

                                                 Will meet again with Open Mind. All the Best.

WHY CELEBRATE CHILDREN'S DAY?

                                                              - By MILAN K SINHA

Nelson Mandela, former president of South Africa said,"There can be no keener revelation of a society's soul than the way in which it treats its children". Please find to enjoy what some other great personalities of the world had felt and expressed about children :

1. Keep me away from the wisdom which does not cry, the philosophy which does not laugh and the greatness which does not bow before children. - Khalil Gibran 
2. The most interesting information comes from children, for they tell all they know and then stop. - Mark Twain 
3. If we are to teach real peace in this world, and if we are to carry on a real war against war, we shall have to begin with the children.- Mahatma Gandhi
4. Children are our most valuable resource.- Herbert Hoover 

 This year too on the eve of Nehru's birthday on 14th November, Children's Day was also celebrated. Routine functions were organised on this day where all sorts of promises for the welfare of our children were made (and  possibly forgotten too) by the ruling political class and their followers- the officials of related departments.Some schools and some NGOs too organised functions on this occasion and reiterated their concern for the children which was covered by newspapers as per the available space for such normal activities. In our country, it doesn't make a news if poor and destitute children are found working in roadside tea shops, hotels, dhabas or selling gutkha, cigarettes etc. in running trains/buses or doing household jobs for  high ups of our society in their Gareebkhanas or  picking up waste foods outside the wedding premises or begging in front of a temple, mosque etc. Yes, we are  one of the fastest growing economies of the world and  every one in the Govt. is busy improving the prospects of GDP growth. No doubt, the following basic facts related to our children will be seen later on by them, if time permits:

• 8.8 lac children die every year, more than 100 deaths per hour in India.
• One in every three malnourished children in the world live in India.
• The IMR (Infant Mortality Rate) in many states is still more than 50 per thousand for children upto the age of 5 years where as it should be at least below 30 per thousand.
• About 50% of all childhood deaths are attributed to malnutrition. 
• 26% of the world's childhood vaccine preventable deaths take place in the country.
• Anaemia affects 74% of children under the age of three.
• As high as 44% children under five years are underweight.
• Malnutrition in early childhood does have serious long term consequences because it impedes development of vital life organs.
• Majority of these children hail from the marginalised and poorest communities such as tribals etc. where literacy is quite low but poverty is  quite high.
• In Jan'12, the Indian PM said that despite impressive GDP growth,the level of under nutrition was unacceptably high.
• School drop out percentage is still  more than 40%.
• The crime against children is on the rise in our country.

 I await your reaction on the subject.Will meet again with Open Mind.All the Best.

MY VIEWS IN TIMES OF INDIA ON OIL PRICE HIKE & ON ROLE OF CAG

Times Of India story on 15.11.12 : Petrol to be cheaper by Rs 0.95 per litre from midnight

Comments of MILAN K SINHA (PATNA)   
15 Nov, 2012 08:30 PM

    If we see the prices of not only Petrol but also Diesel and Cooking Gas in the market, we don't find the rational of either increasing the price or reducing the price in the name of varying crude oil price in international market now and then. Every one must be knowing that more than 40% of the ruling market price of petrol is due to central excise duty and sales tax of respective state governments. Due to fiscal mismanagement both at central and state level, no government talks of cutting its tax rate on petrol and hence find the most convenient route of passing the burden solely on the consumer. But one state is found to be an exception in this regard. Yes, the state of Goa slashed sales tax dramatically in recent months - a few months ago, it cut nearly its entire tax on petrol, making the fuel cheaper by Rs 11 per litre. If that be the case, why other states under the leadership of socalled progressive chief ministers could not really follow Goa’s example. Rather, they kept on befooling its masses by protesting only against the centre's policy on the subject. We know that the country imports 80% of its oil needs and still the policy makers and power that be are doing almost nothing worthwhile to reduce the growing dependence by initiating many known measures to cut oil consumption in the country. Let us hope to have some reasonable reduction in oil prices in future for the benefit of common man by initiating people friendly steps.

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Times Of India story on 15.11.12 : Multi-member CAG plan still on table

Comments of MILAN K SINHA (PATNA)   
15 Nov, 2012 03:12 PM

   I fail to understand the political strategy of the central govt. to engage itself in controversies like this. Can any body complain against CAG & his team of not complying with the set norms of audit process being undertaken? If not, then why this hue and cry? Instead of seeing the writing on the wall about its political future in next Loksabha elections, the major coalition party in UPA -II and its enlightened brigade of managers are trying to damage, of course unsuccessfully, the credibility of such important institutions like CAG. The Auditor in any set up is like a family doctor who tells any thing and everything for the well being of that person which must be encouraged and appreciated by all right thinking nationalist person/party. For any progressive government or corporate entity, the stronger and more transparent the audit system is, the more soundly performing the operational systems will be. Then, the chances of bigger scams like 2G, Commonwealth, Coalgate and the likes will be lesser in number & magnitude and also detectable fast. So, any attempt by any political party or any government to weaken such organisations will be self suicidal as in the public domain it will definitely be seen as done with some vested interest. All opposition parties, big & small alike, in the country must protest loudly against any such ill- motivated move by the Govt., in order to stop further erosion in the functioning of democratic institutions in coming days.

                                                  Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON ATM & ON INDUSTRIAL PRODUCTION

Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.13.11.12

Dear Reader,
Your comment on the article ''ATMs cross 1-lakh mark; SBI controls 59%'' is now displayed on timesofindia.com.

''With Govt.'s promise to put in place with greater pace the much talked about financial inclusion in coming months and with Aadhaar going to be the basis for doling out subsidy through Bank Accounts to the targeted population in the country, the banking service delivery routes must be strengthened by opening more branches and also by putting more ATMs, both online & off line in rural areas. Needless to re-emphasise that the functioning of ATMs are to be monitored closely by the Banks to justify the promise of anytime (24x7) banking as there has been gradual increase in non- functional ATMs, issues related to failed transactions, ATM frauds etc. These are some of the major problems being faced by the customers on a day to day basis which must be addressed fast on an on going manner. RBI on its part, must look into the fact that despite its clean note policy, how even ATMs are dispensing unclean notes as a matter of routine.''

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Comments of MILAN K SINHA (PATNA) in  
The Times Of India dt.12.11.12

Dear Reader,
Your comment on the article ''Diwali dampener: Industrial production, exports shrink, inflation rises'' is now displayed on timesofindia.com.

''This Diwali is the worst festival time in past few years. It seems things are going out of control and government of the day is not capable of effecting any major course correction. Even at this stage,there is reportedly a lack of coordination among the different ministries at the centre and also in many states. If PM finds time to review this alarming situation with his ministers atleast once in a week and with Chief ministers of different states once in three months to find some solution, I believe it will not only have definite impact on major issues but also send a right message down the line for all officials to follow this accordingly. We know, there is still lots of red tap at different levels despite the socalled liberalisation which is hampering the economic and social development, but who is responsible for this red tap? Of course, the Govt. and its perennial lack-lustre & half-hearted way to make things happen. Many a times, even after many rounds of customary meetings, discussions, deliberations and final documentation, it is not implemented within the prescribed period which obviously result in time escalation as well as high cost escalation. If we analyse deeply the ratio of decision taken and decisions implemented as per the terms of the said decision, it would be crystal clear how the system has been paralysed for any and many reasons. Some experts may opine that the political and administrative authority has lost its sanctity & impact to such an alarming extent that nothing can move in time and as per the laid down norms. But, then why the age old reward & punishment system is not implemented strictly, objectively and transparently? Yes, the system can start responding quickly only if the political power actually has the right will & intent to perform to make the country really performing and prosperous.''

WISHING YOU & YOUR FAMILY  A  HAPPY DIWALI.

                                                      Will meet you again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON FINDING RIGHT TALENT & ON QUALITY OF LIFE

Economic Times Story on 19.10.12 : Corporate India facing challenge to find right talent: Report

Comments of MILAN K SINHA (PATNA)
19 Oct, 2012 10:34 AM

Its unfortunate but equally true. As we all know only 20% of Engineering & Management degree holders get a suitable job matching their qualification. To say, in our country where Engineering colleges & B-schools have mushroomed over the last few years as commercial establishment and not as seat of learning and skill development, the companies don't find these colleges worth visiting & recruiting the students from. Its really very unfortunate because the students join these colleges after paying good amount of fees only with a dream of getting good learning experience to qualify for getting a job particularly through campus selection. The poor guardians equally suffer a lot in the whole process. Our HRD ministers at the centre and in states together with regulatory bodies like AICTE must look into this aspect seriously and initiate urgent measures to correct this sordid situation.

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Economic Times Story on 20.10.12 : India Inc under 'stress': Fear of layoff, pay cut and work pressure pushing more employees into depression

Comments of MILAN K SINHA (PATNA)
20 Oct, 2012 10:04 AM

It had to happen and this trend would deteriorate further. 24x7 our life is shaped in consonance with mother earth's movement round the Energy God, Sun. Morning to noon to evening to finally night, our daily routine is positioned accordingly. But, the Indian corporate culture has created so much of mess in the name of LPG (Liberalisation, Privatisation & Globalisation) that our social and personal life has become excessively stressed for little cogent reasons. Every body, even those who don't understand fully the meaning of GDP talks in terms of this term. And GDP is, as experts know, is one indicator of any country's development. Now the time has come when, we must start talking about the QUALITY OF LIFE of our all countrymen instead. To talk only of GDP growth and derive plesure & pride is nothing but an abuse for 850 million people of this country who are compelled to survive on a daily income of Rs. 20/- only. Now, think of the 540 million plus youth force of the country, the highest in the world, to whom if the power that be provides the right opportunity for learning and earning, they can do wonders for themselves and for the country. Our whole planning & execution machinery must focus their attention on these basic ground realities to save the country from impending disaster in many ways.

                                        Will meet again with Open Mind. All the Best.

MY VIEWS IN TIMES OF INDIA ON POLLUTION & ON ENEMY WITHIN

Comments of MILAN K SINHA (PATNA) in
The Times Of India dt. 10.11.12

Your comment on the article ''Take immediate steps to cut pollution: EPCA tells to 4 states'' is now displayed on timesofindia.com.

''Its a good initiative by the Environment Pollution Control Authority (EPCA) headed by Bhure Lal, a seasoned bureaucrat but shouldn't it be extended to other states too as many other metropolitan as well as big cities are facing this problem, may be in lesser degree. We know well that India’s population is growing fast –its world’s 2nd most populous country after China and so is its energy needs. Still more than 70% of country's population lives in rural areas and depends largely on farm wastes and milch animal dung for meeting their day to day enery needs. India’s vehicular population has also increased many fold in recent past – presently more than 40 million passenger vehicles alone. In total, the country manufactures 11 million plus vehicles every year. To say, India’s energy needs, particularly Petrol/Diesel etc. is fast rising; coal production & consumption is also increasing in good pace; traffic congestion in big as well as mid -sized cities has risen to an alarming proportion thereby registering further deterioration in air pollution level. All these aforesaid facts & some more have greatly contributed to making India one of the worst countries in the world as regards Air Pollution ( It is generally defined as the contamination of life saving oxygen with obnoxious gases such as carbon mono oxide, carbon di oxide,sulphur di oxide, methane etc. mainly due to combustion of fuel - oil, coal, biomass & firewood, in vehicles, industries & household.) The country’s capital, New Delhi ranks among one of the top cities in the world in this regard. So, in order to fight this growing menace the following remedies must be tried very earnestly right from now with greater intensity: a)Reduction in emission of air pollutants including Green House Gases, b)Vast improvement in public transport system, c) Making Solar & Wind energy popular in all possible & time bound manner, d) Protection of existing forests & large scale afforestation, e) encourage people to drive less and walk & bicycle more, f) ensure stricter compliance of emission norms and g) create awareness among rural masses about the ill effects of air pollution and suggest them to try & use alternative sources of energy to the extent possible.''

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Times Of India dt. 21.10.12
Comments on Swapan Dasgupta's article : Fear of the enemy within

MILAN K SINHA (PATNA) says:
October 21,2012 at 12:25 PM IST

Good piece of writing by Swapan Dasgupta which took me too 50 years back. The country was behind the then Govt. led by Nehru and was feeling squarely betrayed by Chinese leadership mainly in view of the famous Hindi-Chini Bhai-Bhai slogan & sentiment. I vividly remember those days when we used to go to Katihar Rly station to salute and support our Jawans passing through that route in military specials. Infact, many changes took place in the intervening period in both India & China, but border issue remained as ticklish or even worse as it was earlier. Undoubtedly, China has grown much stronger than India in many respects and is de-facto super power of this region. We do have the potential to be better than China, but the question arises here again as to when our political masters appreciate this and start acting differently to make India really stronger economically & militarily.

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                                                          Will meet again with Open Mind. All the Best.

* Do visit my site : http://www.milanksinha.com/

MY VIEWS IN NEWSPAPER ON OBAMA'S ELECTION & ON EDUCATION REFORM

Economic Times Story on 08.11.12 : Poke Me: Why India's minority political leaders should emulate Obama

Comments of MILAN K SINHA (PATNA)
08 Nov, 2012 07:08 PM

Your instant piece of writing is quite thought provoking and well placed. it is really a proud moment for all the citizens of America to showcase to the world the unique verdict of 2012 American Presidential election which at least every nation who proclaim to be a democratic progressive one must emulate. The right to equality, though enshrined in our constitution and talked every now and then by our political leaders not only from the ramparts of red fort but also from every important forum, is still to be the order of the day in reality in our 65 years old Sovereign Democratic Republic. Right from the beginning, the divisive forces under the umbrella of one or the other political party tried successfully to practise the old nefarious game of divide and rule by keeping the majority masses from all religion, particularly minorities, poor, illiterate, unemployed and relatively scared. Nevertheless, a handful of leaders from minority community could make their mark on national scene, but due to lack of internal democracy and also meritocracy within major political parties in our country, we failed to see the making of an Obama sofar. We sincerely hope, the Obama wave would show its impact in Indian politics too in coming days. Anyway, 2014 is not far away to spring some suprises for the better, who knows?

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Comments of Milan K Sinha (PATNA) in 
The Times Of India dt. 08.11.12

Dear Reader,
Your comment on the article ''Education reforms not on backburner: Shashi Tharoor'' is now displayed on timesofindia.com.

''It is heartening to note what Shashi has said. There is no denying the fact that education is very necessary for cultural, social & economic development of diverse sections of society like ours. But, despite the constitutional provisions regarding Right to Education & Govt. declaration for providing basic education to all its citizens, our performance is still dismally poor. The power that be do reiterate publicly that education is one of the most important tools of empowering our youth, rich as well as poor, to face the challenges of the changing world, but even this basic need of our growing children is becoming unaffordable with rising cost of education. The private players in Indian education space have been creating a lot of mess by making it no less than a commercial activity. Undoubtedly, this must be looked into very seriously by both central and state governments without further delay. More over, the primary education must be given the highest priority not only in policy terms but also in actual practice. The school dropout rate is another area of major concern as it is still more than 40% which is even worse than that of Bangladesh & Vietnam - countries which got independence more than two decades later. Not to re-emphasise much, the dropout percentage is higher among tribals, economically weaker sections of society etc. It is hoped the minister who has the rare distinction & experience of working as Deputy Secretary General at UN to know & understand what is happening in most parts of the world, would live up to his own assertion which he made just after assuming charge of minister of state in HRD, in these words,"If you get the education and training part right, we would then be able to equip the youths take advantage of what the 21st century has to offer. But if we don't get it right, the danger is something like what we have seen with the Maoists, frustrated unemployed young men picking up the gun".''

                                                   Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON WORLD DEVELOPMENT REPORT & ON EVALUATION OF WELFARE PLANS

Economic Times Story on 06.11.12:  2013 World Development Report: India needs to focus on jobs, reform labour laws

Comments of MILAN K SINHA (PATNA)
06 Nov, 2012 08:56 PM

For a country like India which has the largest pool of educated youths , but where jobs are not plenty despite reasonably very good average GDP growth for last 12 years in 21st century, if growth and equity don't go together in our society having massive BPL population and growing number of unemployed persons, there will be large scale discontentment leading to major law and order problem which may threaten the unity and integrity of the nation. We can't allow to have two India in our country at any cost. More over, the existing labour laws must be revisited in view of the changing business models and requirements to make it conducive for ensuring sustainable and inclusive growth of our economy which must also take care of the well being of its labour force, the real wealth creators for the country. Naturally, for this to happen , the issues of governance must be addressed forthwith and the check & balances in the system to be tightened not to offer any chance to any ill- intentioned person to take the system for a ride at any point of time.

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Economic Times Story on 07.11.12: Cabinet to take up real-time evaluation of welfare plans to monitor timely expenditure

Comments of MILAN K SINHA (PATNA)
07 Nov, 2012 06:40 PM

There is no denying the fact that Rs.76000 crore Rural Development Budget, if utilised properly for the target group, the condition of millions of rural poor would definitely change qualitatively. It is very unfortunate that the public money is being swindled by a handful of so-called powerful local persons in connivance with the implementing govt. functionaries depriving the poorest of the poor of their basic needs of living. The Union Rural Development Minister, Jairam Ramesh is right in stressing the idea for having a real-time evaluation through an independent concurrent evaluation mechanism to make welfare schemes more effective. This would surely help curb the large scale organised mal-practices being undertaken at the ground level under the nose of the district/block administration through out the country, may be in varying degrees. Let the proposed mechanism which will comprise an independent organisation, the Concurrent Evaluation Office (CEO) is set up early with a specifically defined role so as to prove itself a real change agent for the disadvantaged rural masses and not another office at the tax payers cost only for namesake with some other motive before the next Lok Sabha elections.

                                                       Will meet again with Open Mind. All the Best.

PASSION AND PURPOSE GO HAND IN HAND

                                                                                     - By MILAN K SINHA
Passion and purpose go hand in hand. When you discover your purpose, you will normally find it’s something you’re tremendously passionate about.” -  Steve Pavlina

A great leader’s courage to fulfill his vision comes from passion, not position.”-  John Maxwell

Inventor & Author, Vadim Kotelnikov writes,"Steve Jobs was one of the most successful entrepreneurs of our generation. His success story is legendary. Put up for adoption at an early age, dropped out of college after 6 months, slept on friends’ floors, returned coke bottles for 5 cent deposits to buy food, then went on to start Apple Computers and Pixar Animation Studios." Steve jobs died of cancer on 5th October,2011. But Steve was Steve because he loved himself and tried to do what he used to profess,''Do what you love to do.   Find your true passion...The only way to do great work is to love what you do."

      Please look at what other renowned persons have to say on the subject:

• Great ambition is the passion of a great character. Those endowed with it may perform very good or very bad acts. All depends on the principles which direct them. - Napoleon Bonaparte 
• I have no special talents. I am only passionately curious.” -  Albert Einstein
• Develop a passion for learning. If you do, you will never cease to grow.-Anthony J. D'Angelo 
• Nothing great in the world has been accomplished without passion.” -  Georg Wilhelm Friedrich Hegel
• Passion is the genesis of genius.” -  Anthony Robbins
• Don’t ask yourself what the world needs; ask yourself what makes you come alive. And then go and do that. Because what the world needs is people who have come alive.” -  Howard Thurman
• One person with passion is better than forty people merely interested.”- E. M. Forster
• Purpose may point you in the right direction but it’s passion that propels you.” - Travis McAshan
• If there is no passion in your life, then have you really lived? Find your passion, whatever it may be. Become it, and let it become you and you will find great things happen FOR you, TO you and BECAUSE of you.” -  T. Alan Armstrong

       Truly, as Anthony Robbins,Speaker and Author says,"There is no greatness without a passion to be great, whether it’s the aspiration of an athlete or an artist, a scientist, a parent, or a businessperson.” So, why not take another example of a most passionate human being who lived on this earth only for 39 years, but his contribution has been unparalleled and unmatched. He is the man  widely known all over the world as Swami Vivekananda. He was full of passion to know himself, his motherland and the rest of the world with a view to serve the humanity at large in his own inimitable manner. As a young man of 25, he started his Bharat Darshan and travelled through length and breadth of the country like a wandering monk for five years.

   There are numerous examples of such persons in our books and also before all of us in different fields of activity ranging from literature, singing, dancing, cooking, mountaineering to administration, agriculture, space science, film making and whatnot who made us extremely proud by their life and work filled with enormous amount of passion. Undoubtedly, pursuing one's passion is full of suspense and pleasure moments worth experiencing.  

                                                        Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON GROWTH IN SERVICE SECTOR & ON LIFE INSURANCE DENSITY

Economic Times Story on 05.11.12: Services growth weakens to 6-month low in October: HSBC PMI
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 06:20 PM

The economic growth train has been pulled by the service sector during the last few years despite many ups & downs in global as well as domestic financial market. To say, it has been the major growth driver for Indian economy for the last so many years. Its contribution to GDP was only 15% in 1950 which grew to 44% in 1991 and now it is contributing about 60% to our GDP. Although majority of Indians are still engaged in Agriculture & allied activities and majority of our population live in rural areas, yet the contribution of Agriculture to GDP is still less than 20% and is showing a decelerating trend. More or less, same is the story of industrial production in the country. Notwithstanding, the services sector would continue to hold its predominant position and certainly try to improve its share due to its inherent strengths. But, all said and done, its time to work out action plan to increase the contribution of Agriculture & Industry to GDP hereafter for sustaining better economic growth year after year despite slow down in one particular sector.

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Economic Times Story on 05.11.12: India tops global life insurance density rankings: WEF
Comments of MILAN K SINHA (PATNA)
05 Nov, 2012 08:26 PM

It is good to know our better position on LID (Life Insurance Density) Ranking, but we have miles to go in order to cover a vast population who are still uninsured. Data says only 20% of the total insurable population of the country is covered under various Life Insurance Schemes despite being a 65 year old independent democratic country and also claiming to be a welfare state. More over, the penetration level too is hovering around 4.5% of GDP, which Mr. Malay Ghosh has rightly termed as under-penetrated. Yes, India is the 5th largest life insurance market in the world and is also growing fast at whooping rate of more than 30% annually. In nutshell, life insurance is very much the need of our country to ensure real inclusive growth in days to come. Naturally, this is a big opportunity area for both national and international life insurance players.

                                   Will meet again with Open Mind. All the Best.

MY VIEWS IN ECONOMIC TIMES ON TRANSPARENCY & ON RAIL REVENUE

Economic Times Story on 04.11.12: Transparency key to achieve high economic growth: Vinod Rai, CAG
Comments of MILAN K SINHA (PATNA) 
04 Nov, 2012 09:58 AM

What CAG has said is absolutely correct. Transparency and Accountability are the basic pre-requisites of good governance in any performing system. And if our democratic system is to function systematically as per the constitutional provisions, we must restore the rule of law with more and more competency, transparency and accountability as the tax payer has the right to know how his money is being spent. In fact, what we see and find today in our country is nothing but the fact that the law makers have started behaving like law breakers with the added arrogance of their position of power. No doubt, public awareness initiatives through noddy booklets by the Govt. Auditor will definitely go a long way to let the common man know what actually is happening in different offices/departments and thereby provide an opportunity to think and act to raise his voice to clean the rot in the system for a better tomorrow.

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Economic Times Story on 04.11.12: Railways to lease 3,700 acre land in next 2-3 years
Comments of MILAN K SINHA (PATNA) 
04 Nov, 2012 02:32 PM

This is one route through which Indian Railways can improve its revenue.There are many other ways. While travelling by rail, one can find the movable assets of many kinds lying here and there for years together without attracting the attention of the inspecting rail officials for doing the needful to add some revenue to its balance sheet. Similarly, if the ticket checking system is revamped to minimise the number of ticketless travellers together with reduction in mal-practices by railway personnel at the operational level, the earnings can be improved further. To say, resource efficiency has to be very much in place in every aspects of its functioning. After all, money saved is money earned. So, Indian Railways must complete the exercise for optimum utilisation of existing resources before thinking of taking the short cut route of increasing the fare to boost revenue.

                                   Will meet again with Open Mind. All the Best.

MY VIEWS IN NEWSPAPER TODAY ON GROWTH vs INFLATION & ON

Economic Times Story on 03.11.12: Growth vs Inflation: P Chidambaram and D Subbarao may discuss the issue in Mexico

Comments of MILAN K SINHA (PATNA) 
03 Nov, 2012 06:14 PM

 It is good that top functionaries of the government are likely to have a meeting during the G-20 meeting in Mexico. We appreciate the complex problem of tackling both the important issues of sustaining growth and controlling inflation in the light of multiple internal and external factors. But, if we fail to identify and accept the real issues responsible for deceleration in growth of economy and for contributing higher rate of inflation, then any and many such meetings would end with nothing but again with another story or so of not having a successful meeting of minds despite a costly meeting at the cost of tax payers' money. Undoubtedly, our problem as many experts perceive, is basically of our own making. Notwithstanding, even today if the central government resolves firmly to act decisively on reducing its expenditure drastically, ensure compliance of extant rules & regulations at all levels, reward the honest & punish the corrupt officials without favour, review minutely the performance of PSU to effect efficient management of investible fund and also their NPAs, the change for the better can be registered within a limited period for everyone to see & appreciate.

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Comments of Milan K Sinha (PATNA) in 
The Times Of India dt. 03.11.12

Dear Reader,
Your comment on the article ''Aakash tablet to be showcased at UN'' is now displayed on timesofindia.com.

''As the report itself says : Aakash was launched in October last year by the Indian government to make available computing devices to students at subsidised rates, so the question arises as to why the government failed to ensure availability of Aakash even after a lapse of more than a year to atleast those thousands of students, if not all eligible students, who registered themselves for getting it fast. Secondly, in this world of competition and innovation, it must be seen and answered by the those who venture to showcase it at UN as to how Aakash is placed now in the market as far as its quality and price is concerned. The Central Govt. must look into this issue in totality and very meticulously to find out the competitive quality and marketability otherwise it may prove to be another scam only to benefit Datawind or so. And then, at least Mr. Moon (UN Secretary General Ban Ki-moon) will find Aakash full of dark clouds!''

                                                         Will meet again with Open Mind. All the Best.

MY VIEWS IN NEWSPAPER TODAY ON GARBAGE PROBLEM & ON UNIVERSALISATION OF EDUCATION

Economic Times Story on 02.11.12: Azim Premji calls for citizens' movement against garbage problem

Comments of MILAN K SINHA (PATNA) 
02 Nov, 2012 09:54 PM

I fully agree with what Premji has pointed out. Its really a pity that even in metomolitan cities the staff of concerned depatments dare not clear the garbage and still no punitive action is initiated against them by their controllers. And when it is cleared, it is dumped into rivers, pond, lakes or in open space causing lots of water and air pollution. Naturally the poor & BPL families are the worst hit as they have to use unclean & unsafe water and consequently they get severely affected by water borne diseases- Diarrhoea, Cholera, Malaria, Japanese Encephalitis & Filariasis which cause more than 18 lac deaths annually in our country. So, besides performing the duties as a responsible citizens in this direction, the civil society must also raise the demand for ensuring proper sanitation, as it is our constitutional right. Media too, must focus its full attention on this vital issue and report the anomaly being adopted by local implementing machinery on a regular basis.

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Comments of MILAN K SINHA(PATNA) in 
The Times Of India dt. 02.11.12

Dear Reader,
Your comment on the article ''Shashi Tharoor stresses on universalisation of education'' is now displayed on timesofindia.com.

''There is no denying the fact that making education relevant for all, along with access, quality and the universalisation aspect is very important as Shashi Tharoor has very rightly stressed. Pl. see what Kofi Annan, Former U.N. Secretary General with whom Shashi has closely worked as his deputy, has to say,"Literacy is a bridge from misery to hope. It is a tool for daily life in modern society. It is a bulwark against poverty, and a building block of development, an essential complement to investments in roads, dams, clinics and factories. Literacy is a platform for democratization, and a vehicle for the promotion of cultural and national identity. Especially for girls and women, it is an agent of family health and nutrition. For everyone, everywhere, literacy is, along with education in general, a basic human right.... Literacy is, finally, the road to human progress and the means through which every man, woman and child can realize his or her full potential.” Hope, the new minister of state for HRD would do something novel and different to make his mark as a knowledgeable & performing minister. I would also urge the minister to look in to the problem of school drop outs in the country more seriously besides many other HRD issues.''

                                                Will meet again with Open Mind. All the Best.