Some thoughts on Economy during COVID 19 times

Govt has many things to do. On the one hand it has to effectively curtail the spread, limit the speed, and mitigate the severity of COVID 19 pandemic and on the other it has keep the economic train going which is at present devoid of fuel and so slowing and sputtering.Only the direction is correct because of the Driver.

The cynics always say only when India is pushed into a crisis or is it serindipity(!) ,only then it bounces back by taking up the much needed reforms. The year 1991 is a stark reminder of this.The 30 year itch is back to haunt us.

Now, First things first.

Health is wealth and Thiruvalluvar also says "பிணியின்மை செல்வம் விளைவின்பம் ஏமம் அணியென்ப நாட்டிவ் வைந்து."  

and so the citizens remaining without major diseases are an asset and an ornament for any country.

But this is a prerequisite or hygiene factor or given or default option, when it comes to running a nation in today's context.However, an emerging economy like India having made rapid strides in development in the last few years does not have a health infrastructure it can boast of nor does it have economic might to withstand the onslaught of a pandemic. This pandemic is a "Black Swan" event as described by Risk Management experts and so the response to it has to be a blend of conventional wisdom and unconventional thinking.

This is easier said than done because in hindsight we have 20/20 vision and when faced with such a calamitous situation there will be many redherrings and straw man fallacies which can fail you. Sometimes Cobra effect or Cobra paradox can set in motion with unintended consequences. Nevertheless we should pursue proactive policies which can be tweaked as we go along inorder to rejuvenate its people and reinvigorate the economy.

When it comes to Economy, cash flow i.e liquidity is the major problem in times of lockdowns due to emergencies and so "Pump Priming" through infrastructure projects, is the first hand remedy. Lack of earnings is only a secondary problem.

With the above caveats let me give my top of the mind tips to Govt in terms of tackling the economic crises:
1)Provide a Senior Citizen Health insurance based on the IT paid by that person when he was hale and healthy and earning.If a Senior citizen had paid IT for 15 years continuously, then the Govt. should take care of his ailments in his sunset years by paying the health premiums on his behalf.

2)For augmenting govt. revenues Govt should upwardly revise royalty charged on Mining Cos and Oil exploration cos.

3)All user charges incl. EB tariffs collected by Govts. etc. should be linked to inflation indexation in future.

4)All pending Govt. liabilities both at the Central and State levels,whether provided for or not, should be cleared forthwith by using RBI Ways and Means Advances as a one time relief ,to all the suppliers. Many Power producers to whom State Discoms or State Govts. have not paid, in some cases even for 3/4 years now, will get a huge cash inflow which will again flow back to oil the wheels of the economy. Even if there is a dispute hold back 10% of the dues or take a BG and pay the amount.

5)Govt. can consider pledging the shares of its PSUs ,Banks, Navratnas, State Ratnas incl. that of Air India with ADB/IMF or BRICS bank and raise the resources temporarily.

6) Govt should also announce a National Pandemic Gold deposit scheme where citizens must be encouraged to deposit their Gold-similar to Defence scheme launched during Pak war of 1965- to mobilise and put the idle assets of the people to constructive use.

Govt. should also try to be careful in not allowing fiscal deficit to expand exceeding 1 to 1.5% of GDP that too beyond 2 years and should come with a roadmap well calibrated to rein in the fiscal deficit to retain international investor confidence. Also should consider its adverse impact on inflation which should not morph into poor man's tax curse. Govt has a healthy RBI B/S, huge FE reserves, Foodgrain reserves and low Current Account deficits to back up its loosen its purse strings temporarily to inject liquidity into the economy.

Divine Wonder!!

We are what we are.. wonderstruck at the divine beauty of our heritage!

Valmiki's first sloka is an inexplicable divine wonder revealing that Inscrutable are the ways of Bhagawan. It is actually a curse which turned out to be a sloka and that carries two distinct meanings-one which is known by its explicit meaning and the other implied and divine.!!
Vālmīki was going to the river Ganges for his daily ablutions. A disciple by the name Bharadvāja was carrying his clothes. On the way, they came across the Tamasa Stream. Looking at the stream, Vālmīki said to his disciple, "Look, how clear is this water, like the mind of a good man! I will bathe here today." When he was looking for a suitable place to step into the stream, he saw a crane(krouncha) couple mating. Vālmīki felt very pleased on seeing the happy birds. Suddenly, hit by an arrow, the male bird died on the spot. Filled by sorrow, its mate screamed in agony and died of shock. Vālmīki's heart melted at this pitiful sight. He looked around to find out who had shot the bird. He saw a hunter with a bow and arrows, nearby. Vālmīki became very angry. His lips opened and he cried out.

Emerging spontaneously from Valmiki's rage, sorrow and grief, this was the first śloka in Sanskrit literature.

Later Vālmīki Muni composed the entire Rāmāyaṇa with the blessings of Lord Brahmā in the same meter that issued forth from him as the śloka. Thus this śloka is revered as the "first śloka" in Hindu literature. Vālmīki Muni is revered as the first poet, or Ādi Kavi, and the Rāmāyaṇa, the first Kāvya.

The beauty of this sloka is that it has two different meanings:
The first sloka originated from Valmiki:

मां निषाद प्रतिष्ठां त्वमगमः शाश्वतीः समाः। यत्क्रौंचमिथुनादेकम् अवधीः काममोहितम्॥'
mā niṣāda pratiṣṭhāṁ tvamagamaḥ śāśvatīḥ samāḥ
yat krauñcamithunādekam avadhīḥ kāmamohitam

Meaning 1: which is explicit and which is borne out of Sage Valmiki's intent of sorrow, anguish, pain and grief
निषाद O Fowler, त्वम् you, यत् for which reason, क्रौञ्चमिथुनात् from the pair of krauncha birds, काममोहितम् when they were infatuated by love, एकम् one, अवधी: have killed, (तत् for that reason), शाश्वती: permanently, समा: for long years, प्रतिष्ठां glorious, मा गम: you will never get
You will find no rest for the long years of Eternity
For you killed a bird in love and unsuspecting
Meaning 2: which is implicit and ethereal and which is revealed due to mystifying Bhagavat Leela

maa= Goddess Lakshmi; nishaada= Oh! Vishnu [ for Goddess Lakshmi resides in the heart of Vishnu - nishadiiti asmin iti niShaada ]; yat = by which act; krounca midhunaat = the couple of demons, namely Ravana and Mandodari; kaama mohitam= that passionate one stole Seetha; ekam= that one, Ravana; avadhii= you killed; by that act of yours; shashvatiisamaa= everlasting for ages; pratishtaam= divine sanctity; tvam agama= you, get.

"Oh, the abode of Goddess Lakshmi, namely oh, Vishnu, by which act of your killing one male demon named Ravana, who in his passion abducted Seetha, and thus you eradicated the vice from the earth, for that you get an everlasting divine sanctity, as Rama, for ages to come."

After this, Very wise and learned, he (Valmiki), preeminent among sages, pondered over it (for a while) and spoke these words to his disciple.
मे for me, शोकार्तस्य born out of sorrow (of slain bird), प्रवृत्त: came out without effort, पादबद्ध: consisting of four lines, अक्षरसम: each of equal number of syllables, तन्त्रीलयसमन्वित: with rhythm tuned to the accompaniment of stringed instruments, श्लोक: sloka, भवतु let it take a form, अन्यथा न not otherwise.

"Occasioned by the griefstricken (state of the bird) and composed in rhymed lines each of equal number of syllables tuned to the accompaniment of stringed instruments, let it be known as a sloka and not by any othername"..
Vālmīki Muni composed the entire Rāmāyaṇa with the blessings of Lord Brahmā in the same meter which is known as Anushtupchandh, that issued forth from him as this śloka..He wondered at the mystifying leela of the Lord



-Compiled based on several authentic sources

We continue to mouth the cliché that Exports are national priority.Exports like Agriculture will be the life blood of Indian economy.
The spin-off or multiplier effects of Exports are hugely beneficial for the Economy.It creates and thrives on  Export Competitiveness Enhancers which are Quality Improvement, Cost Reduction,Delivery improvement. They enable the exporter to emerge as the winner in the global market. International market forces at free play uphold the Darwinian principle of "survival of the fittest". When the Government does its part  of the work on Infrastructure development in terms of Roads, Ports and Power Generation improvements all these provide momentum to the multiplier effect already set in motion and that cumulatively snowballs into better quality of life for the People of India.
Exports contribute not only to earnings in foreign exchange but also to Employment generation, thereby improving the purchasing power of Indians within the country.
The enclosed flow-chart brings out the multiplier effect of exports in the Indian economy.
But the basic question is, are we doing enough to build on the Export Competitiveness Enhancers so that exportable surplus is generated and the rate is sustained.
Is the road to exports without pot-holes? No. The Tax men in general talk about losing revenue due to export incentives. But either they are  oblivious of the multiplier effect of the exports on the economy or exposing their plain ignorance or saying this with ulterior motives India can move up the Value chain only if, only if the tax bears itself less and less on Production/Manufacturing and more money is left in the hands of industry for them to invest in R&D and innovate. The industry only then can build capacities and generate employment. Only this can sustain long term development of this economy. Otheerwise, Wherefrom employment generation can happen when the manufacturing sector is chained and pained. Simple principle of Taxation as defined by Chanakya in Arthasasthra draws inspiration  from the simplest of creature -honey-bee.The message is loud and clear:  a)Honey-bee sucks honey from the flower without damaging it. b)No harassment to flowers and flowers welcome honey-bees. c)honey-bees help in multiplying the volume of flowers and thereby the fragrance. d)When flowers multiply, the honey collection increases. e)Honey-bee never uses its sting against flowers which supply nectar. f)the bee never spares an intruder who tries to steal the honey. g)the bee neither damages the flower nor tries to squeeze the flower of all its honey in one strangulating go. h)Finally, there is no uncertainty as to what the bee should do and flowers should pay The Golden Principle is "Don't kill the goose that lays golden eggs". This canon of Taxation should guide the Taxmen to shun short term revenue  considerations.Instead work like bees,as prescribed by Chanakya in "Arthasastra",inorder  to multiply"the volume of flowers" and generate larger   quantity of nectar.! It is pertinent to note that the Government like a common man should pursue its duty of good governance and not to bother about the outcome or revenue-"Nishkamya karma"-.The revenue should come to it naturally. Good governance will include among other things,nurturing enhancers/facilitators/multipliers  like  Productivity improvement,good Quality,cost reduction , timely delivery of its services in the economy and avoid uncertainties in Taxation .Generally,it should  look after law and order,primary education,health,defence,infrastructure,currency and taxation,external affairs,promotion of agricultural and industrial enhancers. Prof.Stiglitz,Nobel Laureate stresses on Transparency/removing the Uncertainty, providing Flexibility,Fairness and Economic and Administrative Efficiencies as 'Canons of Taxation" These correspond to our ancient methods of Taxation and time is ripe for course correction. 'Thirukkural' and 'Arthasasthra impart us with the knowledge and all important wisdom of Good Governance and Taxation. The collective experience of contemporary India added to that of the entire repository of knowledge and wisdom can help us achieve this . If India has to Shine-Let us harness its Energy!

Covid 19 and parasites

Are we not parasites?Are you sure.We are what we are...

Now Covid 19 virus is busy spreading and gobbling up everything on the way from east to west and back to east.But the funny thing is, it cannot exist and thrive without a host.That is, it is a parasite.Even though the the whole world is on its knees begging for its life, this invisible virus is wreaking havoc on humanity.

Are we any different from this parasite, living on Mother Earth's resources and leaving our Mother emaciated,polluted and weakened.Are we not selfishly gnawing at our Shelter's roots that provide life and succour to all the innumerable living creatures. This Parasite Covid 19 is showing us how we shamelessly live, holding a mirror to us. Let us live a life helping others live. Let us light up others' lives.

Are we in a mood to listen?Are we humanitarian any more?

Inclusive society of Sanathana Dharma

We are what we are ...

Many of you would have recited Vishnu Sahasranama and some of you may recite it by heart. As children , in many households in the South , we have witnessed the daily recital of Vishnu Sahasranama either individually or in groups. Some households may play the MS Subbulakshmi's divine rendering of the celestial song and listen to it devoutly. This recital of 1008 namas of Bhagawan Maha Vishnu was orginally done by Bhishma Pitamaha and it appears in Anushasana Parva in Section/Chapter 149, verses 14 to 120.
This prayer praising the Purushothaman, Bhagwan Sriman Narayanan has been the subject matter of detailed commentary/ exposition (bhashya)by Adi Sankara, Sri Parasara Bhattar etc.
I am not competent to write about them. But one thing in the Shasranama prayer stands out. At the end of the Shasranama, Maa Parvati asks Eswar, is there any easy way for a simpleton to recite the name of Bhagawan, as he may not be able to recite the Shasranama. Eswar obliges Her by saying Yes reciting the Ram nama is equal to reciting the Sahasranama and Bhagwan would be pleased to hear Ram nama .

Parvathi:"Keno payane laguna vishnor nama sahasrakaam;
Patyathe pandithair nithyam srodhu micham yaham prabho.
Eswar; "SriRama rama ramethi rame raame manorame,
sahasranama thathulyam rama nama varanane"

The above question and answer is the bedrock of Inclusivity of Sanathana Dharma.Nobody is left out including the last man standing, making it easy for him to reach Bhagwan. Unto the Last !

Is it ok to do anything, if it helps atleast 4 people!!

Some time back , one of the hit Tamil movies, carried a dialogue that goes .."If what you do benefits atleast 4 people around you kindly carry on that work.." justifying all  criminal and anti-social activities like smuggling. In this garb, of delusion you can include every conceivable anti-national , anti-social activity since in any case atleast few people who support these rubbish causes out of personal grudge or grudge against a nation or society will be benefited. I am hearing somebody crying aloud " .. but at what cost or whose cost". Simply this larger question remains unanswered as it provokes awkward and embarrassing introspection for these criminals.

Guided by self proclaimed righteousness the hero of the movie carries out his God father like mafia role with impunity.

Few days back a tamil scholar wearing a dhoti was taking Thirukkural classes to the children of the middle school. He explained at great length the following thirukkural

"ஈன்றாள் பசி காண்பாள் ஆயினும், செய்யற்க சான்றோர் பழித்த வினை" Explanation: "Even if one's mother is struck by hunger due to poverty, one must not do such acts which the wise would treat with contempt".

This aphorism exhorts a person to walk the path of righteousness even in dire straits.

This entirely contradicts the Tamil movie dialogue which shows the path of expediency. This path will lead the entire society to its doomsday. Thirukkural shows the way of building tomorrow's world and society. Great nations are built on sacrifices and certainly not on personal gains with criminal motives.

Chemistry and human existence!

Many biochemistry researchers say that we are chemical beings with neuro transmitters carrying messages within all over our body.Our genes and other body tissues,cells and nerves are made of endogenous chemicals, chemical substances and chemical compositions.

Where from we get these chemicals which conduct us all through our life. Obviously from food , water we consume and air we breathe in.

If that being the case, our ancestors  understood this chemistry very well. They said that we are made of Satthva, Rajas and Tamo gunas as a result of various chemical combinations and which  that dominates the rest of the combinations and secretions. They went one level up and defined that our external vocations must match our inner body resonations. This , they said, will result in specialisation of labour.

According to them , the inner vibrations, the ichcha shakti, and your external kriyas, the kriya shakti, must be in consonance always for our souls to evolve and reach a higher plane, the Gnana shakti.

Therefore, they defined the food habits for each classes of labour. If you follow the path of a brahmin , you must have high Sattva guna and therefore must choose to eat Sattvic food shunning onion and garlic etc.

If you follow the path of Kshatriya, then go ahead and take foods that contain more of Rajas chemicals like onion and garlic with meat.

Now with deep understanding of human body , scientists have understood that our body is nothing but full of chemistry.

Perhaps that is why our ancestors kept "Rasam" as an important dish for nourishing the "Rasayanam"(Chemistry) of the human body.!!