September 16-30, 2012 Vol. 8, Issue - 06

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erala, a beautiful land Klaced with coconut palms and back-waters is really God's own country. Sage Parshuram is said to have reclaimed the land as a penance from the oceans. Known for com-munal harmony and cultural inter-mingling of races and religions, the land remains a cause for worry. Kerala's economy largely depends upon the NRI residents who regularly make remittance to their home and also the contribution of Kerlaities living outside Kerala. Coir, tea and rubber add to the trickle. A state which constitutes 1.18% of the geographical area of India with 3.5% of its population spread over 38,863 Sq. Kms. area is today the classic example of mismanage-ment, maladministration and developmental anarchy in every respect. It is a state where literacy is often confused for education. With 95% literacy, every Keralite considers himself educated and does not spare anything of criticism. They talk of Marxism, capitalism and trade unionism, though many of them have never read a text on this subject. Apart from a sketchy public distribution system, the state cannot boast of any other effective system in place. This does not mean that there are no systems working. The state transport corporation incurr-ing continuous losses is one such rickety system. The ser-pentine queues seen in front of toddy shops

as well as the outlets of Kerala state beverage corporation which sells IMFL, Indian made Foreign liquor explains the new found prosperity in this maveli country, the main economic activity being the printing and sale of lottery tickets, a clear case of government making money through gambling, no doubt that this evil has made many people millionaires over-night. In the same way 'nokku-kooli' has bestowed respect to the trade unions. Karl Marx must be turning in his grave and Adam Smith must be struggling to resurrect to correct their economic doctrines.

A distinct and salient feature of emerging Kerala is the instant dispensation of justice on T.V. called 'Sutharya Keralam' or 'Transparent Kerala'. The Hon'ble Chief Minister of the state accompanied by the distinguished Chief Secretary of the state appears on T.V. to address and redress the problems raised by common man. One wonders weather a parallel judiciary is at work in this country of God. If the Chief Minister or the Chief executive of a state indulges in quick disposal of issues and problems, it is a case of justice hurried which amounts to justice buried. The much appreciated program is so designed to meet the eye by selectively projecting tricky issues and presenting it with authoritarian speed and offering

instant solutions. If the C.M. of a state spends his valuable time in disposing of petty issues which can easily be addressed by the village panchayats or the lowest trial courts, he is clearly wasting his precious time and subverting priority. It is high time the popular and sincere C.M. delegates this job, a tricky management art to some of his able assistants or associates and concentrate on policy matters. No doubt Kerala is a victim of policy paralysis and mismanagement.

Kerala continues to depend upon other states for foodgrains and even vegetables. They pro-duce only about 35% of the requirement. Even poultry and milk products are imported from neighboring states. With Agricul-ture completely neglected and the land under cultivation steadily declining, the monsoon fed state of Kerala shall remain in an emerging Kerala for a long time to come.

Kerala is also a land of temples and festivals, they celebrate it with great pomp and show. High masts and tall bronze oil lamps illumi-nate caparisoned elephants amidst the beating of drums and conch shells often bursting the sound barrier. The kind of sound decibels during 'Thrissur Pooram' is suffi-cient to make any elephant run amuck and how the mad crowd tolerates and enjoys this decibel dose is a matter of investigation by

Pages : 4PRESS ACCREDITATION

EMERGING KERALA A DREAM ?

Indian Banks Rank higher in 'Borrower Concentration Risk',

says Credit Suisse reportCredit Suisse, the Swiss multinational

financial services company headquartered in Zurich has published an equity research report titled 'India Financial Sector' on August 2, 2012. According to the report, the Indian banking system has recorded a scorching pace of loan growth in the past five years and its exposure is concentrated on a select group of ten Indian corporate houses competing in the same sectors which poses risk.

These corporate groups have presence in key sectors such as power, steel, infrastructure development, etc. that drive economic growth amounted to 13 per cent of the bank loans and 98 per cent of the banking system's net worth. A steep rise in debt levels of some of these large corporate groups has led to a much higher 'borrower concentration risk' at Indian banks, as compared to their counterparts in other Asian and emerging markets. The report stated that due to factors such as 'high leverage levels, poor profitability and pressure from the lenders', most of these groups carrying heavy debt have resorted to divestment of some of their assets.

The report pointed out that in the last five years, the Indian banks registered a 20 per cent compounded annual loan growth. But this has 'increasingly been driven by the select few corporate groups' and in the last financial year, more than 20 per cent of the incremental loans were from a mere 10 corporate groups. As per the report, the cumulative debt level of the top 10 groups including Adani Enterprises, Essar, GMR, GVK Group, JSW, Jaypee, Lanco, Reliance ADA, Vedanta and Videocon had jumped five times in the past five years (40 per cent CAGR).

V. N. Gopalakrishnan

A. V. Sivasankaran

(continued on page 3 )

(Continued on page 4 )

“MONSOON SESSION”may be the beginning of end of UPA-2 !

DR. G. BALAKRISHNAN PH.D

hidu’ in fact a science graduate with a law Cdegree cannot really handle political financial economics of the country obviously sensibly, though 'per force', he handled in UPA1 in a most difficult manner by going on 'taxing the tax payers' right and left, under various guises of taxes which are not really falling under any Taxing Principles, normally not permitted in Political Taxation economics at all, after all governments are expected to Tax the Least, under the principl,e 'No Taxation without representation', well known 'fight' promoted by the American 'democratic' colonies, against the British Imperialism in America.

So when Chiddu was made FM the other day relieving him from Home ministry which he handled 'reasonably sensibly well', felt upset as he never liked 'finance ministry' obviously and promoting Sushil Kumar Shinde real novice to Home Ministry to India Home ministry really hurt Chiddu, as his position is practically made next to Shinde as he is also the Leader of the House, in parliament though he is no comparison under any yard stick to Pranab or Chidambaram, to manage the house. He will only

OBITUARY

Dr. VARGHESE KURIEN1921 - 2012

Bite that can kill:Bedbugs found tocarry superbugs

PREVENTION IS BETTER THAN

CURECALL

IMMEDIATELY

(Continue from previous issue)

collapse or he will fall collapse, if forced. May be he is a great 'Yes Madam man' at the most

that is all his qualification. He substantially failed in Maharashtra when he

turned a Nelson's eye to several kinds of scams as CM while allowing his fellow CM's deliberately battered Mumbai lands deals including Adharsh Scam.

So there is a lobby in Mumbai that Mumbai need to be like Delhi as a union territory as Maharashtra CMs from other towns do not care much about Mumbai, but for 'their own advantages' to be carved out, that has really happened.

Mumbai is writhing from bleeding pains today, like 'an orphaned Metro' as so called 'Financial capital'.

Is it not comedy of errors?Chiddu never interfered in Spectrum pricing

policy now, as the reserve price is at Rs.14000/- crores and the telecom industry is crying in wilderness now.

Chiddu will not take any rash decision to support

(Continued on page 4 )

Paying respected tribute to the departed soul

Sunny News

Dr. G. Balakrishnan [Ph.D (Econ) ML., (Professor Emeritus)

(Economics & Management) &

Advocate(original side), Bombay High Court

& High Court appointed Mediator,

Sr. Counsel, Supreme Court of India]

VALUE ADDED TAX (VAT) VALUE ADDED TAX (VAT)

I S A R A P I D A D D I T I O N TAX(RAT) AN INSTRUMENT IN THE HANDS OF STATE LEGISLATURES DUE TO 'STATE LIST' UNDER CONS-TITUTION OF INDIA MISUSED TODAY TO MEET THEIR 'IRRATIONAL APETITE FOR MONEY' IN THE NAME OF PUBLIC POLICIES AT THE COST OF CITIZENS AS CITI-ZENS IN EFFECT ARE SU-FFERERS OF 'IMPUNITY OF STATE', THOUGH ARTICLE 12 SYSTEM UNDER INDIAN CONSTITUTION!

'COMICAL STATES / NATION’

(IT APPEARS WHEN STATE APPLIES DRACONIAN PRO-VISOS, STARTED FROM 'SAR-FAESI ACT 2002' INNOVATION OF GREAT FINANCE MINI-STER P. CHIDAMBARAM TO HELP BANKS TO RECOVER THEIR DUES, TO SAVE THEM-SELVES FROM 'NON PERFOR-MING ASSETS' (NPAs) THEIR OWN CREATION DUE TO POOR BANKING MANAGE-MENT... COURTS ALLOWED SUCH ACTS AS SO CALLED 'PUBLIC POLICY'!)

The principle of VAT is well orchestrated in a USA of George Washington university, under Minerva programs of Institute of Business &Public Management studies publically funded project in 2001, led by Professor E.S. Olivera with Advisor professor Jed Kee. The principle is same Marginal cost all over States on production efficiency base as it

depends on the relation between 'Supply and Demand' price elasticity. (Refer: Shome, 1995 (p.75 – 79) for an analysis that shows two extremes and one on intermediate case'. More realistic analysis is presented in Browning- Zupan 1999 pp.247-248. In which two interpretations cases with different elasticity ratios are shown. (Refer: Shome 1995 p.87).

High evasion puts perception of excessive tax burden Increased pressure on business cash flow requirement etc still. Ease of administration is major goal to be pursued in credit Excise Taxes – other desirable characteristic on addicted goods (like liquor.) to be taxed include large sales volume.

'A Linguistic quirk of the VAT is the exemption actually means that the 'Exempted Trader' has to pay VAT on less inputs without being able to claim any credit for the Tax paid on inputs.

Zero rates mean trader is fully compensated for any VAT he pays on input and therefore general exemption on VAT. (TATS. 1998 P. 45)

Tax origin based on destination base – Export or import.

I am not confident on Indian state government whether they go by detailed economic studies when they levy VAT. Outline Laws are made by Legislators as Statutes to get legal sanctity. Question arises whether really the bureaucrats study issues in right perspective?

Mostly I think 'some gut feeling' may be the basis for some revenue generation, like they did in Coal matter now a great 'coalgate'! Even CBI is INDIREC-TLY pointing finger at PM as he signed the order to issue coal excavation licenses.

accrues benefit to the total community leading to same returns on their activities.

There are three methods, 1 P-VAT, (product type):

Allows highest revenue but taxing capital good which can prove to be a strong dis-incentive for invest-ment. VAT cannot be recovered by businesses, as some cascading occurs. Problems are slightly reduced with adaptation of I-VAT (Income type) –some cases allow tax on purchases of capital good to be recouped over a period of time.

2. C-VAT is most common var iant across cont inent (Europe) : Indeed less econo-mically intrusive variant as it generates no distortion in the production process between capital and inputs. Yes narrower base though mandates that rates set higher causing every sort of problem such as enhanced distortions are caused by multiple rate schedules – exemptions and zero rates.

(This depends on how much producers are able to forward shift burden of Tax on their capital expenditure. In competitive model well established that the 'ability'

(The writer is a Post Graduate from IndianInstitute of Human Rights, New Delhi.)

September 16-30, 2012

The very fact that CPM is rejecting demands for a CBI probe into the hacking to death of rebel leader of the Revolutionary Mar-xist Party sounds very suspicious and murky. The communist Party of India (Marxist) has surprisingly rejected the demand for Central Bureau of Investigation or CBI probe into the brutal hacking to death of party rebel leader T P Chandrashekharan at Onchiyam in Kerala's northern district of Kozhikode on May 4.

The way the CPM leaders have been changing their stand stinks to high heavens. Initially the demand for the probe made by Revolu-tionary Marxist Party or RMP flo-ated by Chandrashekharan and his widow Rama was backed by the party central committee member and opposition leader V S Achu-thanandan and polit bureau mem-ber Sitaram Yechury. Whether the backing was done with sincerity or by a prior agenda is something that need to be analyzed.

After the arrest of many CPM functionaries, a meeting of the party politburo held in New Delhi viewed the demand as the result of a conspiracy to falsely implicate senior party leaders in the case. In fact Party General Secretary Prakash Karat even went so far as to say that there would be strong protests if the government handed over the case to the CBI. Accord-ing to him, the Kerala police have falsely implicated several CPM leaders in the case. Karat even claimed that the people know the actual motive behind their demand and so it is better to let the police submit their report in the court. Affirming that the party had no role in the murder of the RMP leader, the CPM claimed it wanted the police to bring to light the

actual culprits involved in the murder.

However what is contradictory is that if the Kerala police have already “falsely” arrested many in the case, then the CPM should definitely ask for a CBI probe so that those innocent CPM members who are arrested be released. But in this case the party is fighting against involving the CBI so that those guinea pigs who were “falsely” implicated would conti-nue stay in jail. This brings us to only one question. What are they trying to hide?

The politburo sudden decision change from the party's earlier stand that it was not afraid of any inquiry in the case is stunning and simply atrocious. It is understand-able for a murderer to demand that there be no enquiry against him but for a political party that represents the entire state of Kerala to oppose a CBI probe into a murder shows that there is not just something but a lot to hide.

From the comments of the CPM, it can be made out that they are ok with letting the large num-bers of CPM party personnel stay in jail for the murder. They don't care. However, they are concerned that when the CBI enters the picture, as always, the true culprits would be arrested. At that time, the high and mighty of those in the CPM who are involved will be caught and arraigned. This is exactly what the CPM party and Karat does not want.

It is a shame that in spite of Kerala being the most literate state, politicians there can justify political murders and oppose any CBI enquiries into those murders. It is high time the Government of Kerala take steps to bring in the CBI immediately.

Right to a Fair-Trial Detentionince the remanding of a Ssuspect or accused to

judicial custody deprives him of his most valuable right the right to freedom and liberty the least that a state can do is to provide him with a fair pre-trial detention. The con-stitution of both India and USSR guarantee protection against the unlawful deprivation of an in-dividuals liberty vide Article 21 and 58 respectively. The ordinary criminal legislations also contain provisions providing immunity against unlawful detention or prolonged detention pending trial. The international covenant on civil and political Right stipulates in Article 9 (4) that any one who is deprived of his liberty by arrest or detention shall be entitled to take proceedings before a court.

Fairness to under trials rarely recognised. In India, the criminal justice administration has been rather indifferent to the violation of the basic human right of the suspect or the accused at the under trial stage. According to the 78th Law Commission Report, the present of under trials in jails have

far exceeded those of convicts. Most of the research studies undertaken have revealed the fact that these under trial prisoners have been languishing in jails either because they were denied bail by the courts on account of their involvement in grave offences or simply because they were not in a position to furnish bail owing to their poverty or illiteracy or any other reason. In comparison, the conditions of persons awaiting trial in the USSR is much more stable and manage-

able within the existing criminal justice frame work. This may be due to the fact that in recent years a large number of offences that were at one time made punishable under the ordinary criminal law have been absolved from criminal responsibility. Secondly, measures of restraint like bail, promise not to depart, personal surety etc, are applied only when there is sufficient evidence to show that the accused might escape inquiry or investigation, thus indirectly limiting the number of cases where the suspect or accused may be detained in custody as a result of not being able to furnish bail or some others surety. Thirdly, since the purpose of the criminal procedure of the soviet union is to eradicate crime through education of the offenders and the public at large and because the principal of the presumption of innocence runs like a golden thread through the entire fabric of their constitution and criminal legislations measures of arrest are only resorted when dictated by extreme need.

Why is CPM terrified of CBI probe into Rebel Leader's murder ?

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DISCLAIMER

(Continued on next issue)

As the grandfather of a school going child, I keep myself abreast of all school news. What sort of school news, you may ask. All sorts, but school bus accidents in particular. For quite some time, the government has been speaking about enforcing strict rules for school buses.

Strangely, the more they talk about strict rules, more the number of accidents. I have written about these accidents in my previous columns. But they continue to occur with increased frequency and I am constrained to go back to the same topic.

A few weeks ago, an eight year old student of Ryan International School in Kharghar in Navi Mumbai lost his life after being run over by his school bus. The accident occurred in Sector 27 of Kharghar when the child was on his way back home from the school. Ryan International runs a chain of schools including one in Mahul near Chembur and some in the western suburbs and others in Kharghar, Sanpada etc. in Navi Mumbai. It employs a fleet of buses to transport the students to and fro schools.

According to the police, Dhruvin Dhaggal, a student of class 2, got off the bus in front of his housing complex with three other students and before anyone could notice, ran to cross the road from the front side of the bus. The driver started the bus exactly at the same time, crushing Dhruvin under the wheels.

The driver and cleaner of the bus were remanded to 14 days' judicial custody by a magistrate's court. “More than the driver, it is the cleaner who is responsible for the accident, since it was he who signaled the driver to start the bus, before checking whether the

children who got off the bus had safely reached the other side of the road”, said Senior Police Inspector Kiran Patil of Kharghar police station. “The cleaner was also at fault because he did not help the children cross the road. Had he signalled the driver to start the bus, ten seconds later, the tragedy could have been averted.

On the day of the accident, Dhruvin's mother Kinjal, as usual, was looking out from her 9th floor apartment and saw him going under the wheels of the bus. She rushed him to the hospital, but could not save his life. Dhruvin was the only son of his parents.

Fatal accidents have occurred in the past when the driver reversed the vehicle. This time the difference was that the child was in front of the bus. The driver couldn't see him from his seat. Drivers of school buses are supposed to take extra care since these are meant to carry kids. The basic responsibility of handing over the child to the waiting parents or ensuring that he has safely crossed over to his destina-tion was neglected in the Kharghar incident.

A police officer said that the bus looked in good shape and would be reviewed by the RTO officials. According to a report, 50% of school buses are not in good condition and have been given only temporary licences to ply. Nor are the drivers absolutely fit. It is a known fact that driving schools and agents can manage to give you a driving licence, provid-ed you pay the fees, irrespective of whether you have learnt to drive or not. A few days before the Khar-ghar incident, there occurred a fatal accident involving a school bus in Chennai. Here too, the victim was a class 2 student and the bus belonged to a contractor. The accident in the Chennai case was a freak one, really strange. Sruti Sethumadhavan the class 2 student died after falling through a gaping hole on the floor of the bus and being run over by the wheels of the bus while she was travelling to

Mudichur.A Tambaram court on Satur-

day, the 11th August, 2012, extended till 24th August, the judicial custody of six men who were arrested in connection with the death of Sruti. The six men include N. Vijayan, founder correspondent of Zion Matri-culate Schools where Sruti was studying, his younger brothers Paul Raj and Ravi, Motor Vehicles Inspector V. Raja-sekaran, Yogeswaran who was in charge of operating the bus and the bus driver Seeman. The seventh person, the attendant, is a minor and is presently lodged in the Children's home in Kellys.

Bail applications of two of the men were earlier rejected by a Chengalpattu court and more recently by the Madras High Court. This was a strange and shocking accident. The chief Minister of the State, j. Jaya-lalithaa, ordered immediate action as soon as she heard the news and the concerned officers were on their toes. In the Navi Mumbai case, only the driver and the cleaner were arrested.

The school management cannot shirk its responsibility, saying that the bus is run by a contractor. Parents send their children by the school bus, placing their trust on the management of the school and not on a contractor who is un-known to them.

According to Parthesh, the father of Dhruvin, there was no communication from the school after the accident. “The manag-ing director of the Ryan Schools came over to pay her condolen-ces, but the school has not said anything about it”. Parthesh said that he was looking at various legal alternatives to take against the school. “My only relation-ship is with the school I admitted my child into and not the bus operators. Any action I take will be against the school, because my son's safety was in the hands of the management”.

How safe is your kid's School Bus ? NAVI MUMBAI - NEWS

The NMMC has planned to develop nine more flyovers on the Thane-Belapur Road

Due to increasing traffic on the iconic Thane-Bela-pur Road, Navi Mumbai Municipal Corporation (NMMC) is planning to transform it into an urban express highway. The corporation has decided to construct nine more fly-overs on it.

Talking about the plan, municipal commissioner Bhaskar Wankhade says, “At present, on an average around 7500 vehicles use the busy Thane Belapur road daily, against 2500 vehicles in 2005. Hundreds of vehicles that come to the MIDC industries and Jawaharlal Nehru Port Trust (JNPT) also use the same road. Its importance will increase manifold after the opening of the proposed international airport at Panvel.

“Therefore, the improvement of infrastructure on the road has become the need of the hour. We are planning to make it an urban express highway. There will be no crossing and traffic will move smoothly without any stoppage. Of the nine proposed flyovers, four have been approved. Sanction of five other flyovers is expected by October this year,” he adds.

“Likewise, we are also planning to work on infrastructure of the MIDC industrial belt. The industries of this area contribute around 60 per cent revenue to NMMC, but the roads and transportation facilities of the area are still not up to the mark. We have estimated a budget of `730 crore to give the area a facelift, and work will be started soon,” he reveals.

Subhash Despande, a resident of Nerul says, “NMMC always undertakes ambitious projects for the development of the city, but ignores minor issues that cause inconvenience to residents. The traffic signals at various parts of Thane-Belapur Road have been defunct for several months now. Similarly streetlights are yet to be installed at many places on the road.

“We are happy that the civic body is taking lot of effort for the infrastructure and development of the city, however, attention should also be paid to such minor things which cause major accidents,” he concludes.

September 16-30, 2012

CIDCO demolishes Bhagwat Dham Temple

The news published by various authors this publication are their sole opinion and Editor is in no way accountable and responsible.

in

DISCLAIMER

The month-long Kanha Megh Utsav (KMU) of Bhagwat Dham Temple at Parsik Hill, Belpaur received a major jolt on Tuesday after the anti-encroachment team of CIDCO carried out a demolition drive in some parts of the temple citing them illegal.

Some parts of the temple were under the CIDCO scanner after the residents of Parsik Hill registered a complaint to the infrastructure authority on traffic congestions during the festival. According to residents, the trustees have erected a permanent structure on CIDCO land, which was given to them for only two months in 2011. In lieu of the same, CIDCO had sent a notice to the temple about five months ago, but the illegal structures were still not removed.

For the demolition drive, 60 policemen from Belpaur police station, 60 policemen from CIDCO, one JCB and several gas cutters were deployed. Police forces monitored the day-long drive to tackle any untoward situation and the anti-encroachment team removed weather structures while dismantling the permanent iron structure using gas cutters.

Anti-encroachment officer Surendra Kumar Yadav said that apart from the demolished structure, some parts of the original temple are also illegal. He said, “We served notices to them about five months ago to remove the illegal structure, but they didn't do it.”

ICICI, PNB, BOI, Union and YES Bank'. The amount of money that 500 of India's largest companies have borrowed to make up for delayed payments from their customers is at its highest since at least 2007.

Credit Suisse with more than 250 branches in Switzerland and operations in more than 50 countries provides companies, institutional clients and high net worth private clients worldwide with advisory services, compre-hensive solutions, and excellent products. Credit Suisse has a strong commitment to India, with four offices in three locations, and more than 3,500 employees through the Centers of Excellence (CoE) and other off-shoring initiatives. Since establishing operations India, Credit Suisse has become the No.1 international brokerage house in India. Credit Suisse' long term ratings are: Moody's A2, Standard & Poor's A and Fitch Ratings A.

However, as per the Annual Survey carried out on the Indian banking system by the Federation of Indian Chambers of Commerce

Infrastructure major Lanco Group has witnessed the steepest rise in its debt level, followed by Adani Enterprises, GVK Group, Vedanta and GMR. The combined debt of the top 10 groups grew over five times in last five years, from Rs 99,300 crores to Rs 5, 39,500 crores, at a compounded annual growth rate of 40 per cent. In terms of total debt for Financial Year 2012, Essar Group tops the list with Rs 93,800 crores, followed by Vedanta (Rs 93,500 crores), Reliance ADA (Rs 86,700 crores), Adani Enterprises (Rs 69,500 crores), Jaypee (Rs 45,400 crores), JSW (Rs 40,200 crores), GMR (Rs 32,900 crores), Lanco (Rs 29,300 crores), Videocon (Rs 27,300 crores) and GVK (Rs 21,000 crores).

Credit Suisse report stated that though wholesale rates show signs of coming down, it was 'cautious on the corporate asset quality outlook' for the banking sector and was 'underweight' on the sector. Its 'top picks' in the financial space were HDFC and HDFC Bank and it continued to be 'cautious on the corporate banks such as SBI,

(Indian Banks .. Continued from page 1) & Industry (FICCI) in February 2010, the pace of development for the Indian banking industry has been tremendous over the past decade. The Survey was conduc-ted to assess the competitive advantage offered by the banking sector, as well as the policies and structures required to further stimulate the pace of growth. As the world reels from the global financial meltdown, India's bank-ing sector has been one of the very few to actually maintain resilience while continuing to provide growth opportunities, a feat unlikely to be matched by other developed markets around the world.

Some of the major strengths of the Indian banking industry, which makes it resilient in the current economic climate as highlighted by the Survey were regulatory system (93.75%), economic growth (75%), and relative insulation from external market (68.75%). Technology systems of Indian banks have been rated more advanced than Brazil and Russia but below par with China, Japan, Hong Kong, Singapore, UK and USA.

Meanwhile, the American industry leaders have assured their strong support to India's efforts to attract foreign capital for the country's infrastructure develop-ment through a sectoral debt fund and other initiatives. A meeting was hosted by the US India Busi-ness Council (USIBC) on August 31, 2012 in honour of Shri. D. Subbarao, Governor of Reserve Bank of India. The industry leaders discussed with him the need for maintaining 100 per cent foreign ownership of wholly-owned subsidiaries, and trans-parent priority sector lending norms. They also discussed with the RBI Governor the importance of a 'bank oversight framework' in

India involving mobilization of the capital and expertise of global financial institutions. They expre-ssed “their strong support for the recently implemented Infrastru-cture Debt Fund structures as well as moves to further deepen India's debt capital markets towards long-term infrastructure development.”

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ENT specialists. The method in the madness is clear that the Elephants which are patronized by the tem-ples are provided 'Sukhchikitsa' a seasonal Ayurvedic treatment for the tuskers to invigorate them. The treatment comprises of feeding of the vegetarian animal with a cocktail of chavanprash, mutton and sharkoferol. The doctors who devised this unique treatment for the pachyderms surely deserves a Padmashree award. Thank God, someone has not suggested Pranayam or Panchakarma for the poor creatures, since Pizhichil or Shirodhara are the prerogative of rich and powerful from within and outside the state.

Recently there was an LPG tanker blast in Kerala at a place called Chala in Kannur district. Seventeen people reportedly died and many were injured apart from severe property damage all around. Kerala is known to have a disaster management plan in place headed by a senior bureaucrat from the Revenue Department.

(Emerging Kerala a Dream .... Continued from page 1)

This author had an occasion to interact with her through a T.V. program a couple of months ago. The program was about the disaster management prepared-ness in Kerala and more of a publicity stunt and an advertise-ment for an exhibition organized in the capital wherein a couple of foreign experts were to participate. It was also to counter the panic reaction amongst the settlers in and around the controversial Idukki Dam. The programe was nothing but a plan for disaster and an action plan of helplessness in case of an eventuality. This author was called upon by the authorities to handle and investigate a che-mical tanklorry accident near Tarapur, Maharashtra in Novem-ber, 1991 in which 117 people were charred to death. We are yet to learn our lessons and those who refuse to learn from history are destined to repeat the same. History is full of mistake and blunders.

The lifestyle of Keralities have

Kapil Sibal in telecom for lower reserve price, as Kapil's sons are Lawyers for telecom honchos, an another corruption game of Sibal.

Chiddu is really mortally afraid of Supreme Court for he is not a dare devil like A Raja, because he suffers from being a dare devilry youth and he was in Tihar which is a feather in his cap, like freedom fighters vied with each other to go to Yervada prison in then Poona.

Further the coffers are practi-cally empty thanks to last few years of profligacy of ministers, of course supported by Madam just to be in government.

Economy is snowballing into 'vicious spirals', as consumption economics did not work in the intended way.

All these are clear indications for the faster wind up of UPA2 may be, after the end of storming Monsoon session on 'Corruption' or early in 2013, which is being accelerated by Anna movement against corruption and Anna plans of creating new political party that is sending 'jittering waves' (busy on strategies how to fail Anna party if at all formed and gains a great momentum, in all parties all over. Anna idea of political party formation is a great 'faulty idea', as the politicians in it will be equally greatly corrupt or much more, and allow some Godse to assassinate

him and make him a martyr. In fact all political parties are strategi-cally planning to infiltrate in Anna political party, if at all formed, to strangle Anna anti corruption agenda, that way Ramdev entered.

Further Anna party may send one or two MPs to Lok Sabha,if at all it contests, at the most, if Anna persists of forming party.

So early election can salvage all these bandicoot political parties by getting re-elected, a fond expectation, as there will be very highly fractured mandate for Lok Sabha elections, as voters are confused, now and that confusion is great boon for politicians so all will like to go for elections post haste, on their own volition!

'Forget' about great Economic Growth story that is already is dead and deeply buried, like the buyers of realty turning not able to pay their installments to banks which will be worst than Kulaks driving the borrowers to suicides, leading borrowers to fast death as the employers soon will show doors to them as companies or organizations revenues deeply in valley in the growth graph.

Besides who asked the mad government to change housing loan load for 20 years income which was for 10 years (120 months income of an individual) perhaps thinking none will save moneys but things otherwise

surfaced. So Donquicksotic come-dy of errors is getting enacted. If you put Knight Headgear on Knight Man Mohan Singh he too looks like him,

GREAT COMEDY OF ERR-ORS TURNING INTO GREAT TRAGEDY AND EVERY ONE LIKE HAMLET SAYING… 'TO BE OR NOT TO BE' IS THE QUESTION, A 'SADDISTIC END' IS ON CARDS OWING TO THE “'U P A's” GREAT ERRORS THAT PLAYED THE COMEDY INITIALLY AND LED THEM TO TRAGEDY, THOUGH I DO NOT WISH IT TO HAPPPEN, AND I PRAY IT SHALL NOT HAPPEN, AND LET ME BE FAILED IS MY PRAYER TO MY LORD, AS I WILL ALSO BE THE VICTIM OF TRAGEDY!

That reminds me Steve Jobs of Apple statement 'Sometimes when you innovate you make mistakes. It is best to them to quickly and get on with improving your innova-tions.' But why our MMS does not do? May be he is incorrigibly obstinate! That is bad luck of this Nation! Hope Chidhu will try to follow the advice of Steve I hope if he is clever and intelligent as people of India terribly suffering, forget about rich and wealthy after all they do not care the government for their survival but politicians survival depends on majority of people who are not that well to, is it not!

(Monsoon session may be .... Continued from page 1)

undergone tremendous changes in the recent years. While jeans have yielded place to dhotis and lungis, laptops have yielded place to pen and pencils. No literate person wants to dirty his hands and dignity of labour remains a Gandhian utopia. Unemployment and underemployment have been serious problems, the impact of which was not felt for a long time due to the opportunities available in the other states as well as aboard. Our education standard have dwindled taking its toll on the employability. There are no toddy tappers or coconut tree climbers in modern Kerala and the govern-ment is trying hard to mechanise both this traditional professions with no results so far. While drinking toddy is a habit, procur-ing the same is somewhat difficult and one has to depend on the government auctioned toddy shops wherein water is liberally used to dilute the same. It is well known that palm oil is being imported into this country liberally at the expense of coconut oil which has been in use as a medicine and

cooking medium for thousands of years. Vanaspati and Dalda yielding place to refined oil and other Indian edible oils is the result of a major policy decision at the apex level, resulting in unremun-erative price for coconuts in India. Pure ghee has become a scare commodity used only as an offering to the Gods at Shabari-mala and Guruvayoor. Keralities are religious by nature and consci-ous of their caste, creed and relig-ion and Hindus are ardent devotees of deities and icons. Everyone without exception uses his caste, creed, religion, contact, proximity, sycophancy and access to Netas

and power centers to secure a job in the Government, which meant 'less work and more pay'. Kolams and Theyyams are religiously performed and used to be confined to the temple premises and private residences. Now Theyyams have become secular and are seen on road corners, market places and even during republic parade day in Delhi. Kerala is for sale and the password is 'Emerging Kerala'.

(The author is a Mumbai based retired safety Engineer, Disaster Management expert and a practicing Advocate. A keen Kerala watcher, he can be contacted on Mobile No. 9867193025).

Two slices of cheese a day can keep diabetes at bay!A new research has claimed that cheese can prevent diabetes, an

illness often triggered by being overweight, even as the current health guidelines advise cutting back on dairy products.

British and Dutch researchers found that eating just two slices of cheese a day cuts the risk of type 2 diabetes by 12 per cent, the 'Daily Mail' reported.Diabetes can cause heart attacks, strokes, blindness and nerve problems, without yet having been diagnosed.

The researchers looked at the diets of 16,800 healthy adults and 12,400 patients with type 2 diabetes from eight European countries, including the UK. The study, published in the American Journal of Clinical Nutrition, found that those who ate at least 55 grams of cheese a day -around two slices were 12 per cent less likely to develop type 2 diabetes. One theory is that the so-called probiotic bacteria in cheese and yoghurt can lower cholesterol and produce certain vitamins which prevent diabetes. And cheese, milk and yoghurt are also high in vitamin D, calcium and magnesium, which may help protect against the condition.

"We recommend a healthy balanced diet, rich in fruit and vegetables and low in salt and fat. This study gives us no reason to believe that people should change their dairy intake in an attempt to avoid the condition," Dr Iain Frame, director of research at a UK-based charity, was quoted by the paper as saying.

Say cheese to beat Diabetes: Study

HEALTH