Is Indian Economy on the road to recovery?

A decade is a long period to analyse the economy of a nation. India, UPA decade of 2004-14, economic reforms, compulsions of coalition politics and corruption allegations have buffeted the UPA government’s quest for growth. 

India’s economy has swung from a heady high to a crippling slow down. India’s gross domestic product (GDP) grew at an annual average of 7.6% during the period, including the two latest years which saw a crippling slow down – an enviable achievement particularly at a time when US and the EU were reeling in recession.

Despite the recent slowdown, India’s gross domestic product (GDP) – the total value of goods and services produced within the country’s boundaries; is within striking distance of crossing $2 trillion mark joining the elite group of globe’s richest economies. It shows Indian economy’s resilience.

How does India compare with world’s biggest economies? By most estimates, India is set to become the world’s fifth, if not the third largest economy over the next decade in terms of size measured by GDP (in dollar billion). 

But it has still some distance to cover to catch up with the big economies such as US and China – They stand as follows - USA: $16, 724bn, China: $8,939bn, Japan: $5,007bn, Germany: $3,593bn, France: $2,739bn, UK: $2,490bn, Brazil: $2,190bn and India; $1,778bn.

The rupee has tumbled from heady high to record low in the ten years. A weaker rupee makes all important goods and travelling abroad costlier.

But it gives the foreign tourists more money to spend here. A fall in rupee also partly explains the reason behind inflation. Rising income has led to a greater demand and sales of both consumer durables as well as food items. Higher demand has led to higher prices.

Few events capture the Indian economy’s growth as the rise of the Sensex which indicate the rise and growth of Indian industry.

In ten years, the benchmark equity index has yielded more than 300% returns. Billions of dollars that have flown in to the country symbolizes the world’s faith in India. Whatever the drawbacks or hurdles, it seems Indian economy is on the road to recovery.

* To be here or to communicate: aneelanike@gmail.com

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Book to read

Bharata, My Brother
- Bharata's episode in Ramayana in verse form.

 Including Ramayana: story in brief & Bharata's profile.
Written by: Anil Kumar Naik
- Foreword by Shri Asaranna Swami, Durga Parmeshwari temple,

Kateel, Karnataka.
Price: Rs 200   + P&F Rs 50 (In India)

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The end of India’s most popular car

First it was the old Amby, short for Ambassador and old Fiat and Premier Padmini seen all over India till the end of seventies and early eighties. Then came Maruti. India’s largest car maker Maruti Suzuki was recently given a quiet and solemn burial to Maruti800 – the car that encouraged India to drive and made Maruti, a household name.

 

Launched at a starting price of Rs 47,500, Maruti800 was a coming of age car that offered features like AC and fuel efficiency. And ironically, the end of Maruti800’s journey comes barely months after its first proud owner Harpal Singh passed away last year. And the first owner, Harpal’s family continues to chug along even after the owner passed away leaving his proud possession.

The last Maruti800 rolled off the assembly line in Gurgaon on Jan 18 this year and brings to a close a glorious chapter and a remarkable 30-year-old journey. It was the mainstay for the company till 2004 and remains the most sold car in India with sales of around 2.7 million cars.

Maruti has already discontinued the car from 13 major cities in India including four metros – Delhi, Mumbai, Kolkatta and Chennai, back in 2010 when stricter emission norms came into effect. RC Bhargava, Chairman, Maruti Suzuki India states, ‘M800 was a coming of age car that offered features like air conditioning and fuel efficiency.’ It was the owner’s pride and neighbour’s envy! The small car loved by all.

As all good things come to an end. The end of the journey for M800 was inevitable, but its impact in India would be everlasting. Still many M800’s in top condition are on the roads taking its proud owners on a long journey. M800 has left its imprint on Indian automobile history. For many Indians M800 was the first car and from which they went on to buy other latest cars, SUVs and sedans. I am sure, none of them will ever forget the M800.

* To be here or to communicate: aneelanike@gmail.com

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Mumbai Meri Jaan! - Mumbai’s modes of mass transport

Recently some good things have happened in Mumbai with criticism of the traffic jams, crowded roads and pot holes. Earlier it was the Mumbai-Pune Expressway making the drive to Pune smoother, comfortble and faster. Recently, it was the Eastern Freeway which made it possible for people residing in the northern suburbs to reach South Mumbai skipping the traffic jams and signals in 20-25 minutes. It’s a treat to drive on this road. On Sat, 1 Feb 2014, MMRDA (Mumbai Metropolitan region Development Authority) inaugurated India’s first Monorail in Mumbai at the hands of the Chief Minister Prithviraj Chavan. The first phase will cover a distance of 8.93-km with seven stations from suburban Chembur to Wadala depot, which will be later extended up to Jacob Circle on completion of the second phase.

Mumbai has seen changing modes of mass transport over the years. The first passenger train in India ran in Mumbai between Bori Bunder and Thane on April 16, 1853. Since then, the city has reached several milestones in its journey of giving the people efficient and economical mass transport. However the monorail that opened to public on 1 Feb is special not only as a highly modernized means of travel, but also because it is the first mass transport introduced in the city since independence.

 

Train: Historic run from Bori Bunder to Thane in 1853

First it was the train, around 160 years ago. Mumbai got its first mode of mass transport in the form of trains covering the far ends of suburban Mumbai – Western, Central and Harbour line. The first train ran between Bori Bunder and Thane on April 16. 1853. Then after some years appeared the Electric Multiple Units. With the city’s growing needs, the steam engine-run trains were replaced 

with electric multiple units (EMU) in 1925. The first suburban EMU was introduced in 1925. This was followed by the new age trains. Over the last decade, the trains have seen a major change. The yellow and maroon trains have been replaced with more comfortable, fast and energy-efficient white-purple trains.

Trams: Trams introduced in 1874

Then came the trams in 1874. It was second in popularity to the trains in the last century. The first tram, which was horse-driven, was introduced in Parel and Colaba on May 9, 1874. And next after some yes, was the electric tram. The city got its first electric tram on May 7, 1907. By that time, the length of the city’s tram network was more than 45-km. Double-decker trams were in operation too.

 

Though the trams were cheap, the trams created  traffic hurdle as the motor vehicles on the roads increased. The authorities thus stopped the service from March 31, 1964. The last tram left Bori Bunder for Dadar at 10 pm.

Buses: BEST rolls out in 1926

The BEST buses were introduced on July 15, 1926. The buses ran from Afghan Church to the Crawford Market, Dadar TT to King’s Circle, and Opera House to Lalbaug. 

The BEST undertaking introduced several types of buses, many of which were phased out later. However the most iconic of them, the double-decker bus, was introduced in 1937. With changing times, the BEST introduced its first air-conditioned bus service in 1998. Replacing its old buses, the BEST slowly introduced the present Cerita and Volvo buses.

With the city expanding, people were open to other modes of transport. This led to the new-age transport system. And the monorail and metro service were preferred.

Monorail: brings a lot of cheers

The monorail on 1 Feb 2004 opened to public, is the first mass transport system introduced after independence. The Mumbai Metropolitan region Development Authority (MMRDA) has decided to introduce the monorail in 2008 with nine corridors.

Metro: next in line

Mumbai’s first metro is expected to start running between Versova and Ghatkopar in the next couple of months, covering the distance in 25 minutes. Though the MMRDA had planned metro network of 146-km in the Mumbai Metropolitan region in 2004, only 11.4-km stretch is ready. Indian Railway’s technical wing RDSO will test the dynamic behavior of metro trains and conduct emergency trials to check breaking potential. The ministry of railways will give the final approval to the Metro One project after which the service will be open to the citizens.

Apart from the popular black and yellow taxis and blue and silver cool cabs to the 3 wheeler auto rikshaws, and a host of private air-conditioned cabs to buses and trains; Mumbai now has monorail as the new mode of mass transportation with metro following soon promising to make the residents’ journey faster and comfortable.

* To be here or to communicate: aneelanike@gmail.com

……………………………………………………………………………………………..................

Book to read

Bharata, My Brother
- Bharata's episode in Ramayana in verse form.

 Including Ramayana: story in brief & Bharata's profile.
Written by: Anil Kumar Naik
- Foreword by Shri Asaranna Swami, Durga Parmeshwari temple,

Kateel, Karnataka.
Price: Rs 200   + P&F Rs 50

Place your order at: akn929@yahoo.com

………………………………………………………………………………………….....................

Domestic tourism gets a boost

The Gateway of India & behind the famous Taj Mahal hotel in Mumbai

Many Indians are choosing to travel within the country rather than venture abroad. High costs and the depreciation in the value of the rupee against the US dollar is driving domestic tourism, as weak rupee makes travelling abroad costlier, and India has become a more attractive destination for dollar wielding foreign tourists.

Jagannath Temple in Puri, Orissa 

Foreign tourists find India an attractive option, as they get more purchasing power due to the weak local currency than the other South East Asian countries. After a bad summer, with tourists choosing to stay away as the media flashed the rape cases during the period did not help too. But things are finally looking up for the domestic tourism and hospitality industry with rising demand in winter holidays. Apart from the traditional spots such as Goa and Kerala, tourists are making for Khajuraho and Udaipur as well. 

Bon Jesus Church in Old Goa

Tourists also seem to prefer off-beat and less explored locations like Gwalior, Varanasi, Hubli, Sasov Gir and other South, East and Northern India.

During the year-end holidays, a growth of 30-35% has been recorded in the inbound travel segment. About 76% of the travelers preferring to take their holidays within India as compared to destinations such as Goa, Kerala and out of the mainland India, Andaman and Nicobar Islands.

Vivekanand Rock Memorial

While Indians are now opting for shorter holidays abroad, the fluctuating currency has contributed to the surge in Indian travelers within India. This year the Christmas and New Year period is showing an increasing demand from domestic travelers. ‘Three hundred additional room-nights have been booked by Indians this year than last year, a growth of 18% said Kapil Chopra, President – Oberoi group of hotels.

Kedarnath temple in Himalayas

In a way, the fall in the rupee dropped foreign travel, but has boosted Indian tourism. It has reduced the number of Indians travelling abroad, and it has added opportunities in domestic markets, an unexpected boost for the industry that is grappling with the economic slowdown. It is also helping all tourism related industry, like hotels, handicrafts, etc. The arrival of foreign in-bound tourists is expected to 

Murdeshwar temple in Karnataka

rise in the next couple of weeks along with local tourists taking advantage of the airlines quoting low and very competitive fares. It has never been so good for local tourist places and business. Apart from this, the year 2014 has many weekends, and that's good news.

Red Fort in Agra

Tirupati temple in Andhra Pradesh

* To be here or to communicate: aneelanike@gmail.com

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Pirate attacks in Indian waters

From time to time we read reports published in the papers about pirate attack on cargo and merchant ships on high seas. The pirates hold the crew and ship for ransom. Many a times, there are Indians too amongst the captured crew employed in foreign vessels. The pirates are ruthless and even torture the crew to hasten their demands for ransom. 

After the initial reports in the papers, nothing more is heard of these incidents. Some crew members are still in their custody at various places. A report says, nearly 200 incidents in the sub-continent have occurred in 2006-2012. Of the attacks and attempted attacks worldwide, the Indian sub-continent has seen 53 attacks in 2006, 30 attacks in 2007, 23 attacks in 2008, 30 attacks in 2009, 28 attacks in 2010, 16 attacks in 2011 and 19 attacks in 2012.

The bureau has reported a total of 199 pirate attacks on vessels in the sub-continent’s waters in 2006-2012. It warned mariners to be extra cautious when transiting from South East Asia and the sub-continent, which covers Bangladesh, Indonesia, Malacca Straits, Singapore Straits and South China Sea;  and Africa and Red Sea (Africa, Gulf of Aden/Red Sea, Somalia, Ivory Coast, Guinea, The Congo and Egypt), South and Central America and the Caribbean waters (Ecuador) and Gulf of Oman.

 

The bureau’s 2012 report stated that 2,386 ships from 97 countries in the merchant shipping business were attacked. The seas and oceans around Africa top the chart with 1,228 cases, and Indian waters come third after South East Asian Waters. The figures are alarming which necessitates action on an international level across the seas to protect ships and keep the shipping lanes pirate free.

As per international law, piracy is a crime on the high seas and it is done for only personal gain, with sometimes loss of property and at the cost of lives. The report stated pirates attacked 43 Indian-flag merchant vessels, placing it 11^th. 

Panama topped with 409 ships. Liberia 268 and Singapore 215. However after strict measures with naval ships patrolling the area, there has been a drop in Somali piracy activity, which earlier used to be constantly in the news; with 297 cases in 2012, after 439 in 2011, and the Gulf of Guinea has replaced the Gulf of Aden as one of the highest risk zones. 

Countries in the region should act and take stern measures to see that no pirates operate in the area. But most of the attacks are on high seas, when the ship is isolated and vulnerable to these attacks of pirates armed with sophisticated weapons, including AK47 rifles, rocket launchers, etc. With goods and cargo ships and oil tankers sailing constantly on high seas and busy shipping lanes across the world, pirate menace is real and should be eradicated by all the effected countries coming together. Either by naval ships patrolling the seas or by armed guards escorting the merchant vessels in these piracy prone regions. 

* To be here or to communicate: aneelanike@gmail.com

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Want to pen your thoughts? Want to write a book?

Do you need professional help to write or edit the manuscript of your book – Autobiography, Biography, Memoir, Compilation, etc.

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After all Manmohan Singh has not done that badly!

With Prime Minister Manmohan Singh having ruled out a possible third term for himself, it would be prudent to gauge his success and failure in the economic front. If economy is the yardstick for any Prime Minister’s success, then Manmohan Singh has done reasonably well. After being targeted for long, the Manmohan Singh government has not done all that badly on the economic front. On the contrary he has faced economic tight walk with conviction and confidence in face of adverse situation worldwide. Since he does not talk much nor he is  in the habit of trumpeting his achievements, this positive was overshadowed by flak the government faced on other fronts like scams and corruption highlighted by the opposition parties throughout his second term and the Aam Admi Party campaign on Lokpal and other issues.

The team led by an economist PM has achieved a substantial body of work to demonstrate its intent. Some statistics stand out. India’s Gross Domestic Product (GDP) grew at an annual average of 7.6% during the period, including the two latest years, that have been hit by a crippling slow down. It is an achievement by any standard, particularly at a time when the US and the European Union were reeling in recession. India’s national income is within striking distance of crossing the 2 trillion mark thereby joining the elite group of globe’s richest economies. 

The world has been watching carefully at the top international and Indian companies competing against each other to grab a slice of the huge market that should triple its size in the next decade or even earlier.

Prime Minister Manmohan Singh, in his recent press conference on a Friday, accepted that low employment generation is an aspect of performance, which the government is trying its best to rectify. India’s per capita is nearly Rs 70,000 a year. The figure gives an idea of the standard of living of the people, but that is not the entire truth as some glaring facts get hidden; as the rich Indians may have driven much of the growth in income. As per the government data, even during the comfortable years of growth between 2004-05 to 2009-10 when the growth averaged 8.43%, the economy generated no more than two million jobs for the fifty five million people who were absorbed in the workforce. With the government trying to push new measures, there is reason for hope and a further boost to the economy. Will the government get the next term after the 2014 elections to do more is a question the voters will answer through ballot.

 

Will it be Congress under Rahul Gandhi or BJP under Narendra Modi or will the AAP again spoil the hopes of both the national parties? The momentum provided to the economy must go on if India has to make a mark amongst the major economies in the world and for the betterment of its people. Whoever forms the government must take this into account.

* To be here or to communicate: aneelanike@gmail.com

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Want to pen your thoughts? Want to write a book?

Do you need professional help to write or edit the manuscript of your book – Autobiography, Biography, Memoir, Compilation, etc.

Just mail to: akn929@yahoo.com

………………………………………………………………………………………….....

What India can do differently?

  

After the Devyani Khobraghade episode, there was an outrage in India by the diplomats, media and people in general. Just as there were many America bashers, there were many American supporters who claim that the whole incident was politicized. May be yes, may be no. But what has politics to do with former president Abdul Kalam or former defence minister George Fernandes getting a patting down at airports, or our actors being harassed at the airport by immigration when the passport, visa etc are stamped and clear. One may say it is routine. 

Fine, let the Americans arriving here be given a patting down by our CISF personnel. There appears to be a method to their madness. But one thing is clear, friendship and bilateral relations should be based on equality. Many who have experienced American high-handedness at visa offices, immigration, airports and elsewhere will bear me out. The Americans expect special privileges in India and Indians in some cases have gone overboard to offer them the same. Give them the same treatment you give to citizens of other countries in India.

India is perceived to be a soft-state. ‘Atiti devo bhavo’ towards guests is fine, but the Indian hospitality should not be construed as weakness. In the north, we have China kicking us, Pakistan from time to time violates ceasefire unilaterally and even pushes terrorists into our side to bleed India. A tiny country like Togo holds our sailors illegally. America and some other European countries try to push us on policies. Even the Middle-East countries act stubborn at times. All this must change. India must act. It needs to be proactive, not re-active and defensive. Just as Brazil has shown the Americans; if you can pat or frisk their citizens, they too can do it and do it even better. Tit for tat diplomacy works and is respected. I wonder how the Americans will feel when they are patted down or frisked by menacing looking CISF men at the Indian airport?

This reminds me of cricket. Earlier nobody bothered about India. In the 40s and 50s, we played to show the British that Indians too could play the game. The in 60s and 70s, Indians would play not to loose badly and later to draw the test matches. This mindset changed in the 80s and 90s. Now the new generation of cricketers don’t care who the opposition is, they just want to win. They represent the new India that is ready to take on the world. That should be the attitude in other spheres too. Now the BCCI and Indian cricketers are respected and heard all over the cricketing world.

This attitude and spirit should percolate down to every Indian. Dignity and self-respect is more important, be it American or any country. India is recognized as a growing power with a steady rising economy. The world is looking at India and China, the growing economies in the world. Our politicians need to grasp this fact and behave in a mature and forceful manner keeping in mind the nation’s size, economy and influence in the comity of nations.

* To be here or to communicate: aneelanike@gmail.com

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Write a book?

Do you need professional help to write or edit the manuscript of your book – Autobiography, Biography, Memoir, Compilation, etc.

Contact: akn929@yahoo.com

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