MY VIEWS IN ECONOMIC TIMES ON JOSEPH STIGLITZ'S COMMENTS ON NEW BANKING BILL & ON INDIA INC. CSR SPENDING

Economic Times Story on 08.01.13 : New banking bill may do more harm than good: Joseph Stiglitz

Comments of MILAN K SINHA (PATNA)
08 Jan, 2013 09:47 PM

Nobel laureate Joseph Stiglitz has asserted rightly on the priorities for our country by stressing the point," India needs to focus more on its internal issues of inequality, lack of infrastructure, issues of education, agriculture, environment , water tables going down." Its very unfortunate for the large population of our country that even after six and half decades of independence, the nation is still beset with the most basic problems of food, clothing and shelter , what to talk of other necessities of life like, health, education, drinking water, sanitation, electricity, all weather roads etc. The unemployment problem is becoming grave day after day with growing population of educated youths who spend lots of money and time to acquire a degree to become eligible for suitable job. No doubt, the power that be has been busy showing their concern for these problems by making tall election promises and also by formulating some plans in the process. Notwithstanding these sordid facts, by and large the ruling political class across the country and their advisers couldn't ensure internal resource management effectively, but instead have been looking for external economic grants/support/loans which may ultimately push the country towards an inevitable debt trap in coming years.

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Economic Times Story on 06.01.13 : How India Inc can make their CSR spends count 

Comments of MILAN K SINHA (PATNA)
06 Jan, 2013 11:58 PM

India Inc can certainly make a lot of difference in the quality of life of millions of fellow Indians by sincerely fulfilling their Corporate Social Responsibility (CSR). The areas can be any and many in a country like ours where majority of population is leading an unworthy human life due to lack of proper nutrition, sanitation, education, health care, employment, to name a few. Millions of young people have acquired degrees by spending lots of money and time but there is serious issue of their employability. More than a quarter of country's population is still illiterate and even elementary education is not available to the eligible students despite RTE Act,2009.There are lots of basic problems which our rural masses are facing day in and day out which can be comprehended and appreciated only by first hand observation.We have more than six lac villages in the country with majority population still living there and earning their livelihood in and around those villages. Despite lacs of crore being earmarked in the budgets of central & state Govt. for the welfare of the poor and downtrodden in the country, little change is noticeable as far as improvement in quality of life of these targeted groups is concerned. I must thank Thermax for taking up some of these issues to make a commendable beginning. Some other corporates are also engaged in such activities in their own way which must be followed by others to register huge CSR related activities in coming days.

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                                                                 Will meet again with Open Mind. All the Best.