Wednesday, March 09, 2016

Tightening the Noose - First steps to a Revolution?

Many friends have been very bitter at my vocal and very strong opposition to Modiji and many of his policies. So much so that one of my friends asked me once - is there anything they did right in the last two years or you simply hate Modiji.

At that time I told him that over the two years there have also been a few posts that lauded the government - however I would not applaud empty announcements (often hyped up and largely intent not actions) but will do so on concrete steps/decisions/actions. He was not convinced. supporters never are.
And then front page of newspapers offered me a choice. Not just a choice - but it reminded me of another such step that even the supporters of Modiji overlooked as it did not catch the media attention. So here are the two recent developments that I wish to applaud the Modi government for
Case 1 : The curious case of "King of the Good Times" The fact that the noose is tightening around Vijay Mallya - the "live life kingsize" promoter of the now ailing Kingfisher Airlines. In many ways the case of kingfisher has become a classic case of crony capitalism in the public perception. It is widely believed that he diverted funds borrowed by the airline to other uses and that he is responsible for the airline drowning. Of course if true, this could not have happened without the connivance of the Bank officials who extended loans to his company. (here is a story that seems to cover most ground in the case). What has been frustrating is that while the airline staff was not paid salaries for months - in full public glare, Mr. mallya did not seem much concerned as he kept throwing lavish parties, launched calendars and bought IPL franchise. This even became a target of RBI governor Raghuram Rajan's comment on corporate responsibility.
The larger perception was that the UPA government dragged its feet in pursuing this case probably because of the political protection he enjoyed. So it is refreshing and welcome that multiple agencies
have moved towards bringing the guilty to the book. It is to the credit of the RBI Governor and to that of the Government that this case has reached this stage. 
Of Course the Law should take its course and we must not pronounce Mr. Mallya as guilty and yet the action makes a forceful case for future defaulters to be cautious about their dealings. It is in the larger public interest that the case reaches its logical conclusion and the guilty be punished. If this happens - it would indeed be a first tiny step towards a revolution where the rich and the mighty might be cautious about cheating with impunity. In fact till about mid 2015 it appeared that Vijay Mallya would laugh his way out of the problem leaving the common man feel cheated and red faced.
So kudos to the Government in moving in the right direction in this case. Let's expect that more such cases/individuals will be pursued and be brought to books. Only, if that happens the country's financial system will undergo a revolution where genuine businessmen will one day be able to get capital more easily while willful defaulters will be brought to books speedily. The sceptic inside says this looks like a dream - well we need to wait for a couple more years to see if the Government allows similar and a few deeper cases to be brought to the books. However, this one is a great movement and so we need to remain hopeful.
Case 2 : The NSEL payments scam
On 13th Feb 2016 Government passed an order of merging National Spot Exchange Ltd. (NSEL) with its cash rich parent company Financial Technologies India Ltd. (FTIL). Of course many supporters (read bhakts) of the Modi Government would not even understand the import of this order - however it was a brave decision by Arun Jaitley led Ministry of Corporate Affairs (MCA). Here is the background

The Forward Markets Commission (FMC) in July, 2013 restricted NSEL from making fresh contracts available as they were likely in contravention of the Forwards Contracts Regulation Act. NSEL first changed its contract duration to comply, and then when it found customers leaving in droves, threw up its arms and shut down the exchange.

The trouble was - more than 5500 crores were due - and as things unfolded everybody realised that neither was there any money to payback nor were the spot trades backed by any real goods to settle the trades. Approx. 15000 investors were left in the lurch with no idea of how would they get back their returns. The role of the promoter of NSEL and FTIL Mr. Jignesh shah and of the CEO of NSEL Mrs. Anjanai Sinha and many promoters and industries behind the NSEL is doubtful and questionable. Read a detailed account of the scam here.

The fact is that while NSEL died as it was unable to honour the payments - its parent company FTIL is a cash rich and successful company. What this order means that the Government (MR. Jaitley)
has asked the Parent company to own up the liability of NSEL. In other words the Govt. is fixing the responsibility of the fraud on the management and owners of the company. Of course this will be challenged in the court by the FTIL management and they might have a valid case as well. But what is commendable is the stand that the MCA took in the case. They seem to have decided in the interest of the investors affected against the interests of the high and might again. What such steps do is repose faith or trust in the system.

Here again Law will take its own course - but the Government action has shown commitment to just and fair trading practices. If the stand is maintained consistently in the long run - this is good news for the Indian Economy. I think these are the changes (परिवर्तन) that Modiji stood for and must remain so. The pace and force in this direction has been slow and feeble and yet these two cases are a step in the right direction.

To be fair to the UPA Govt. both these steps were initiated by and during the tenure of the UPA government but in the larger public perception they were not going anywhere and the Government seemed to be lacking interest in pursuing the case. Also the NDA government did not seem to show much interest either in both cases and yet the bold steps taken in both these cases could not have come had they not have the support of the top leadership. So at least now NDA seems to be serious in taking concrete steps in that direction.

Whether these steps lead to a full fledged revolution upsetting the cart in the system, bringing about an attitude change among the high, mighty and corrupt - will be clear only with time. Yours truly remains sceptical that it would happen and yet these two developments keep the hope alive. Well done Jaitleyji and Modiji. Do ensure that the cases are presented strongly in the court so these people do not go free on technicalities. Please continue on the trail. Book more wilful defaulters - protect more investors - only then you will bring परिवर्तन successfully.

Friday, February 26, 2016

Prabhu's Second Railway Budget -



Amidst a sharply divided polity and more sharply divided citizens on the issue of JNU, Patila House court, Nationalism and the Smriti Irani speech comes a crucial week for the floundering, weakening, growing Indian Economy. The week started with Suresh Prabhu coming up with his second railway budget.
 
Railway budgets have started to become boring and that's actually good. 

Last year's Railway budget was presented by a new Railway minister who made the budget sound practical, achievable and well directed/targeted. So a good idea would be to start with a review of last year's budget. Here are important highlights of the last Rail budget that I had listed last year in a similar post

* Railway to move to paperless ticketing, to introduce hand held device for TTEs.
* You can now book your rail meal from a food chain online.
* Travel between Delhi-Mumbai and Delhi-Kolkata to be an overnight journey.
* 67% more funds allotted for passenger amenities.
* No increase in passenger fares
* No new train announced in Rail Budget.
* 9 hi-speed corridors, high speed trains, Make in India opportunities.
* Advance reservation period increased to 120 days.
* 1330% increase in railway electrification over previous year.
* In 400 stations wi-fi facility will be provided.
* 17000 toilets to be replaced by bio-toilets.
* Rs 2000 crore for Coastal Connectivity Program
* Speedier Railway- 9 hi-speed corridors, high speed trains, Make in India opportunities.
* 1330% increase in railway electrification over previous year.
* 4 Railway research centres will be opened with IIT BHU

So how did he fair and what's in store this yearUnlike the his predecessor - Suresh prabhu seems to have moved on almost all of his promises incrementally (of course missing most of the targets and yet nothing to criticise there). 
As one goes through this year's speech - one finds it very difficult to figure out what he wants to do as he does not review his work of the last year. This is what I could dig out as a summary
  • No hike in fares.
  • Three new freight corridors announced between Delhi-Chennai, Kharagpur-Mumbai and Kharagpur-Vijayawada.
  • Increase in quota of lower berths for women and senior citizens.
  • Long-distance superfast train Antyodaya Express for unreserved passengers.
  • Baby food at stations, a separate menu for children on all trains.
  • Separate toilets and Braille-enabled new coaches to be introduced for the divyaang, or differently-abled people.
  • All major stations under CCTV surveillance soon. To boost transparency, camera surveillance at all tatkal counters.
  • As many as 17000 toilets to be set up as part of Swacch Rail, Swacch Bharat scheme. The world's first bio-vaccum toilet built by Indian Railways operational in Dibrugarh-Rajdhani Express.
  • New train 'Tejas' to at 120 km per hour: Prabhu
  • India's first rail auto hub to come up in Chennai.
  • Aastha Circuit trains to connect important pilgrimage centres.
  • FM radio stations to provide train borne entertainment via PA systems.
  • Overnight 'Uday' double-decker trains.
  • 2,800 km of new tracks in next year.
  • Mizoram and Manipur to be connected through broad gauge.
  • Wi-Fi at 100 railway stations this year.
  • A Railway University to come up.
  • IRCTC will make available local cuisine.
  • Porters to be trained in soft skills and called 'Sahayaks' and not coolies.
  • 33% sub-quota for women under all reserved categories.
  • Drones to be used for remote monitoring of ongoing projects.

So, what do I think of the Budget
1. This year the budget speech was boring and good both because of the same reason - he continues moving on the big picture in the face of some hardships and has avoided political populism as was the case in his last budget too. 

2. Railways could effect a saving of close to 8000 cr. in expenses (presumably on the back of low fuel costs largely and some improved efficiency too) and yet these savings were neutralised by a drop in freight revenue. The drop in freight revenue is worrisome and could be for two reasons - better road infrastructure and improved operations of logistics companies coupled with decades old practice of subsidising customer fare by high freight rates may have led to shift of some business away from railways. This is obviously also due to general slowdown in the economy specially the manufacturing sector (which brings us back to question of credibility of the 7.5% growth number). This is obviously not his criticism - the business environment is out of his control.

3. One area of concern remains the provisions for depreciation reserve funds. A budgeting of Rs 3200 crores to this against a revised estimate of 5500 crores in the last budget which actually budgeted a 9000 crores to it raises doubts on the ability of Railways to carry out repairs and maintenance effectively, This is directly related to safety of trains.

4. A expected deterioration in Operating ratio to 92% is another worry. Many believe even managing it to this level would be a challenge because of the effect pay commission on salaries.
5. He has however unveiled an ambitious investment plan to modernise the railways which he wishes to fund through LIC, PPP and other means. First one is clear - PPP remains vague and other routes promised last year too - the name was monetisation of Railway's assets without privatising them. We have not seen much on what he meant or he means. So financing remain his biggest challenge. Well intentioned and deserved as well - but will this happen is a question mark. Then there is this question of using LIC as the source of funds - one can argue for and against.

6. His action of most of the promises of the last budget might be a work in progress and yet anyone who has travelled by the Indian Railways in the last six months would agree that there are on the ground changes that can be felt. This one fact makes Prabhu a fantastic minister and so we must allow him time, space and maneuverability to deliver on his intent. Thankfully he has all of that from Modiji. 

7. One thing however - this budget speech shares very little on actual figures and hence is a little difficult to figure out actual performance. It has kept analysts a flummoxed about what is going on.

8. Prabhu has also been bitten by the Modi Govt. bug of throwing a slew of jargons/brands for each of his initiatives. So theme goes "Overcoming challenges – Reorganize, Restructure Rejuvenate Indian Railways". There are three pillars of his strategy "Nav Arjan, Manak, Nav Sanrachna". Then he talks of initiatives like Antyodaya Express, Deen Dayalu coaches, Humsafar, Tejas,UDAY, Vikalp etc each of them a well intentioned initiative.

9. Last year I said that its a good budget and like always execution will be the key. This we can comfortably say that execution is on progress although slower than expected and yet no derailing happened in a tough year. Also the focus remains intact in this budget too. Hence there are reasons to feel more upbeat and confident of Suresh Prabhu as the minister. His initiatives should contribute substantially in reviving the investment cycle that India badly needs.

10. Like last year bold, transformational reforms are missing - but thats not news anymore because by now the staunchest supporters of the Modi government have also probably settled with the reality that "parivartan" promised by Modiji was always intended to be incremental rather than disruptive. So be it.

Finally
Overall good budget, stays on focus, cuts through any populism and generates hopes for the future. Suresh prabhu is one of the few good ministers in this government - my opinion. The problem however is that For something so critical as Railways this incremental approach is rather lazy - what we need is nothing short of an overhaul.

If interested read bare details here

Tuesday, February 09, 2016

तुम ये कैसे जुदा हो गये - निदा फ़ाज़ली साहब



8th February was the birth anniversary of my all time favourite Jagjit sahab - who modernised and popularised the Gazal. However, as I grew up and listened to his Gazals more, I realised that he would not have been able to achieve this feat without lyricists and shayars who wrote deep and yet simple, sarcastic and yet sweet, urdu and yet friendly to those who do not know urdu.

Its an irony of fate that the supreme of all such shayars - Nida Fazli Sahab - left for his heavenly abode also on the 8th of Feb.
So when I sat to write a few words about Nida sahab - I was wondering what would be the best ode to his rich legacy - and then - it dawned upon me. Nida sahab was one of those for whom we could use the hindi phrase - जिनका काम बोलता है. So what better than just meandering through some of his work in his memory - so join me in this quick revision - hope this keeps him alive in our memories

Lets start with a few shers from a मासूम creation
गरज बरस प्यासी धरती पर फिर पानी दे मौला 
चिड़ियों को दाना, बच्चों को गुड़धानी दे मौला 

दो और दो का जोड़ हमेशा चार कहाँ होता है 
सोच समझवालों को थोड़ी नादानी दे मौला 

तेरे होते कोई किसी की जान का दुश्मन क्यों हो 
जीने वालों को मरने की आसानी दे मौला

Nida chose to stay in India at Partition whereas his parents went to Pakistan - he loved his country
हमने भी सोकर देखा है नये-पुराने शहरों में
जैसा भी है अपने घर का बिस्तर अच्छा लगता है ।

An eternal optimist - he had a very modest childhood
इस धरती पर आकर सबका, अपना कुछ खो जाता है,
कुछ रोते हैं, कुछ इस ग़म से अपनी ग़ज़ल सजाते हैं।

His shayari was something one easily associated with - they had deep philosophical roots and yet so simply expressed - here is a veritable feast of his deep thoughts
उसको रुखसत तो किया था मुझे मालूम न था
सारा घर ले गया घर छोड़ के जाने वाला



इक मुसाफ़िर के सफ़र जैसी है सबकी दुनिया
कोई जल्दी में कोई देर में जाने वाला
*******
अपनी मर्ज़ी से कहाँ अपने सफ़र के हम हैं 
रुख़ हवाओं का जिधर का है उधर के हम हैं 
******
मेरी आवाज़ ही पर्दा है मेरे चेहरे का 
मैं हूँ ख़ामोश जहाँ, मुझको वहाँ से सुनिए
******
दीवार-ओ-दर से उतर के परछाइयाँ बोलती हैं 
कोई नहीं बोलता जब तनहाइयाँ बोलती हैं

सुन ने की मोहलत मिले तो आवाज़ है पतझरों में 
उजड़ी हुई बस्तियों में आबादियाँ बोलती हैं
******
दुनिया जिसे कहते हैं जादू का खिलौना है 
मिल जाये तो मिट्टी है खो जाये तो सोना है

ग़म हो कि ख़ुशी दोनों कुछ देर के साथी हैं 
फिर रस्ता ही रस्ता है हँसना है न रोना है
******
कभी कभी यूँ भी हमने अपने जी को बहलाया है 
जिन बातों को ख़ुद नहीं समझे औरों को समझाया है

उससे बिछड़े बरसों बीते लेकिन आज न जाने क्यों 
आँगन में हँसते बच्चों को बे-कारण धमकाया है
************
जीवन क्या है चलता फिरता एक खिलौना है 
दो आँखों में एक से हँसना एक से रोना है
******
ये शहर है कि नुमाइश लगी हुई है कोई 
जो आदमी भी मिला बनके इश्तहार मिला
******
जब भी किसी ने ख़ुद को सदा दी
सन्नाटों में आग लगा दी

मिट्टी उस की पानी उस का
जैसी चाही शक्ल बना दी
******
दानाओ (बुद्धिमानो) की बात न मानी, काम आयी नादानी ही
सुना हवा को, पढ़ा नदी को, मौसम को उस्ताद किया
*****
हर जीवन वही विरासत आँसू सपना चाहत मेहनत
साँसों का हर बोझ बराबर जितना तेरा उतना मेरा
******
घी मिस्री भी भेज कभी अखबारों में
कई दिनों से चाय है कड़वी या अल्लाह

Nida Sahab wrote such delightful couplets associated with children. He verbalised some really close observations through kids - here are samples

बच्चों के छोटे हाथों को चाँद सितारे छूने दो 
चार किताबें पढ़ कर वो भी हम जैसे हो जायेंगे

किन राहों से दूर है मंज़िल कौन सा रस्ता आसाँ है
हम जब थक कर रुक जायेंगे औरों को समझायेंगे
******
जिन चिराग़ों को हवाओं का कोई ख़ौफ़ नहीं
उन चिराग़ों को हवाओं से बचाया जाये 
*********
जितनी बुरी कही जाती है उतनी बुरी नहीं है दुनिया
बच्चों के स्कूल में शायद तुम से मिली नहीं है दुनिया.

भाग रही है गेंद के पीछे जाग रही है चाँद के नीचे
शोर भरे काले नारों से अब तक डरी नहीं है दुनिया.
******

And he was quite derisive of religious fanaticism. Wrote extensively on humanism

बृन्दाबन के कृष्ण कन्हैय्या अल्लाह हू
बँसी राधा गीता गैय्या अल्लाह हू

मौलवियों का सजदा पंडित की पूजा
मज़दूरों की हैय्या हैय्या अल्लाह हू
******
घर से मस्जिद है बहुत दूर चलो यूँ कर लें 
किसी रोते हुए बच्चे को हँसाया जाये
******
तू ही फूल सितारा सावन हरियाली
और कभी तू नागासाकी या अल्लाह
*******
उसी के चलने-फिरने, हंसने-रोने की हैं तस्वीरें 
घटा क्या, चाँद क्या, संगीत क्या, बाद-ए-बहारी क्या

किसी घर के किसी बुझते हुए चूल्हे में ढूँढ उसको 
जो चोटी और दाढ़ी में रहे वो दीनदारी क्या
******
मस्जिदें हैं नमाज़ियों के लिये 
अपने घर में कहीं ख़ुदा रखना 
******

Most people would remember simply delightful दोहे - two simple lines of wisdom - casually (apparently) sung by Jagjit Saheb
सब की पूजा एक सी, अलग अलग हर रीत 
मस्जिद जाये मौलवी, कोयल गाये गीत 

पूजा घर में मूर्ती, मीरा के संग श्याम 
जितनी जिसकी चाकरी, उतने उसके दाम 
मैं रोया परदेस में भीगा माँ का प्यार 
दुख ने दुख से बात की बिन चिठ्ठी बिन तार 

सीता, रावण, राम का, करें विभाजन लोग 
एक ही तन में देखिये, तीनों का संजोग 

मिट्टी से माटी मिले, खो के सभी निशां 
किस में कितना कौन है, कैसे हो पहचान
******

Just feel what he wrote for the emotional relationship we know as "Mother"
बेसन की सोंधी रोटी पर खट्टी चटनी जैसी माँ ,
याद आता है चौका-बासन, चिमटा फुँकनी जैसी माँ ।

बाँस की खुर्री खाट के ऊपर हर आहट पर कान धरे ,
आधी सोई आधी जागी थकी दुपहरी जैसी माँ ।

बाँट के अपना चेहरा, माथा, आँखें जाने कहाँ गई ,
फटे पुराने इक अलबम में चंचल लड़की जैसी माँ ।
******

Need some motivation in life - read these
दुनिया न जीत पाओ तो हारो न ख़ुद को तुम 
थोड़ी बहुत तो ज़हन में नाराज़गी रहे 

गुज़रो जो बाग़ से तो दुआ माँगते चलो 
जिसमें खिले हैं फूल वो डाली हरी रहे
******
धूप में निकलो घटाओं में नहा कर देखो 
ज़िन्दगी क्या है किताबों को हटा कर देखो

फ़ासला नज़रों का धोखा भी तो हो सकता है 
वो मिले या न मिले हाथ बढा़ कर देखो
******
किसी भी शहर में जाओ कहीं क़याम करो
कोई फ़ज़ा कोई मंज़र किसी के नाम करो.

दुआ सलाम ज़रूरी है शहर वालों से
मगर अकेले में अपना भी एहतराम करो.

ख़ुदा के हुक्म से शैतान भी है आदम भी
वो अपना काम करेगा तुम अपना काम करो.
******
सूरज के इर्द-गिर्द भटकने से फ़ाएदा
दरिया हुआ है गुम तो समुंदर तलाश कर.

रहता नहीं है कुछ भी यहाँ एक सा सदा
दरवाज़ा घर का खोल के फिर घर तलाश कर.

कोशिश भी कर उमीद भी रख रास्ता भी चुन
फिर उस के बाद थोड़ा मुक़द्दर तलाश कर.
******
यक़ीन चाँद पे सूरज में ऐतबार भी रख
मगर निगाह में थोड़ा सा इंतिज़ार भी रख.

ख़ुदा के हाथ में मत सौंप सारे कामों को
बदलते वक़्त पे कुछ अपना इख़्तियार भी रख.

पहाड़ गूँजें नदी गाए ये ज़रूरी है
सफ़र कहीं का हो दिल में किसी का प्यार भी रख.
******
Sorry if you find that I am being unstoppable - so was Nida sahab. Here is the Romantic Nida 
ख़ुलती ज़ुल्फ़ों ने सिखाई मौसमों को शायरी 
झुकती आँखों ने बताया मयकशी क्या चीज़ है

हम लबों से कह न पाये उन से हाल--दिल कभी
और वो समझे नहीं ये ख़ामोशी क्या चीज़ है
******

And here is the Angry - frustrated Nida (Written when Malala was shot at)
मलाला मलाला
आँखें तेरी चाँद और सूरज
तेरा ख़्वाब हिमाला...

तुझ पे चलने वाली गोली हर धड़कन में है
एक ही चेहरा है तू लेकिन हर दर्पण में है
तेरे रस्ते का हमराही, नीली छतरी वाला, मलाला मलाला
******

I can go on - so will Nida saheb's writing - if nida saheb was to write a few lines now that he is no more - he already wrote them - here 
उठ के कपड़े बदल 
घर से बाहर निकल 
जो हुआ सो हुआ॥

खून से तर-ब-तर
कर के हर राहगुज़र 
थक चुके जानवर 
लकड़ियों की तरह 
फिर से चूल्हे में जल
जो हुआ सो हुआ॥

जो मरा क्यों मरा
जो जला क्यों जला
जो लुटा क्यों लुटा
मुद्दतों से हैं गुम 
इन सवालों के हल 
जो हुआ सो हुआ॥
******

All that I can say in the end that like many writers/authors/shayars of his ilk he deserved more popularity and recognition (not that he did not get it - but more)
मुँह की बात सुने हर कोई
दिल के दर्द को जाने कौन
आवाज़ों के बाज़ारों में
ख़ामोशी पहचाने कौन।

किरन-किरन अलसाता सूरज
पलक-पलक खुलती नींदें
धीमे-धीमे बिखर रहा है
ज़र्रा-ज़र्रा जाने कौन।

Bahut Khub Nida Sahab. Rest in Peace