866 The night watchman brought rats into home, and the regular watchman set fire to the house to tackle rats

In March 2013, while as Gujarat Chief Minister, and while trying to become a prospective candidate for the Prime Ministership of India, Mr. Narendra Modi called Shri Manmohan Singh, the 2013 Prime Minister, a Night watchman. The intent was to strike both Mr. Manmohan Singh and the then Congress President Ms. Sonia Gandhi. The purport probably was that Mr. Singh was a night-watchman-batsman, for Mr. Rahul Gandhi s/o Ms. Sonia Gandhi, the heir-apparent for the throne of Nehru Dynasty. By Dec. 2016, Mr. Narendra Modi started calling himself as a Watchman for the Nation, guarding all the wealth of the Nation.

ybrao-a-donkey's personal view, not intended to be imposed on others

As Night-watchman Prime Minister 2004-2014, Mr. Manmohan Singh continued the process of begging for Foreign Investments which he himself started in 1991 encouraged by the then Prime Minister, LatE Shri P.V. Narasimha Rao, and continued by the BJP-NDA Government 1999-2004 of Mr. Atal Bihar Vajpayee. These Foreign Investment rats are hybrid, in the sense that Indian Ill-earned moneys get laundered, go abroad, and return back to India through tax haven routes such as Mauritius, Caveman Islands, Panama, British Virgin Islands, Hong kong, Singapore, after getting camouflaged with Foreign Firms. These foreign investment rats are everywhere in Indian Corporate Arena, and even control the Bombay Stock Exchange (BSE), and NSE.

The consequence of the Night-watchmanship of Mr. Manmohan Singh is, India has fallen in an irretrievable and in-resurrectable trap of Foreign Investments. Today, India is riding a Tiger of Foreign Investments.

Now, what the Regular watchman Shri Narendra Modi has done?

On Nov. 8, 2016, Shri Narendra Modi through his single speech, set (figurratively) the Indian Economic Home on Fire, saying that there are rats. Rats have escaped. Fortunately, the Home has not burnt totally. It is simmering. Of course, normalcy will come back. Time is the best healer. House can be replastered, repainted. Fixtures can be re-fixed. But memories will linger for another decade to come.

The regular watchman bet the persons residing in the house, saying that he is catching thieves and robbers. Whether the thieves and robbers will be caught or not, the residents are to suffer for some more days/months.

Fortunately, contrary to his normal practice, Mr. Modi's address to the Nation, dated 1st Jan. 2017, is less dramatic, with no tears, not much of hand waving. The speech resembled a routine Budget Speech, which customarily, a Finance Minister makes. All the sops for the 2017-18 budget to be introduced in Feb. 2017, seems to have been preponed to 1st Jan. 2017. The speech might have been designed by the Union Finance Minister, and given to the Prime Minister for a sort of reading-cum-speaking. Every great Indian leader with the exception of Late Jawaharlal Nehru, has been brought into the address, as if people will not lend their ears to the speech unless names of Mahatma Gandhi, Lal Bahadur Sastry, Ram Manohar Lohia, Jayaprakash Narain, Kamaraj Nadar, Babasaheb Bhimrao Ambedkar, Pandit Deendayal Upadhyay, Naxalism, Maoism, Kargil War, Champaran Satyagraha, are brought in. Somehow, the speech forgot about Sardar Vallabhbhai Patel. Nehru's omission can be understood, but Patel's omission is noteworthy.

Some of the contents of PM's New Year 1st Jan. 2017 speech, which particularly relate to Monetary Economics, Fiscal Economics, and Political Economics are worth discussing by us in our blog posts.

To start with we shall take up the following:--

"... There is no precedent globally, to what India has done. Nations similar to us do not have the amount of currency that we had. Over the last ten to twelve years, 500 and 1000 rupee currency notes were used less for legitimate transactions, and more for a parallel economy. The excess of cash was fuelling inflation and black-marketing. It was denying the poor, their due. Lack of cash causes difficulty, but excess of cash is even more troublesome. Our aim is to achieve a balance. Economists agree that when cash is outside the formal economy, it is a cause of worry.When it joins the mainstream, it is an opportunity for development. ..."

yb-a-donkey's personal views, not intended to be imposed on others

I have spoken to some of my friends about the events which have taken place between 8th Nov. 2016, and 31st Dec. 2016, in INdia, with regard to demonetization of Rs. 500 and Rs. 1,000 notes. At least two of my friends were very much supportive of Mr. Narndra Modi. Of course, they have some valid points.

Like Mr. Modi, they too have felt there is excess currency in India. My friends felt that the excess money was a creation of the Congress Government. It resulted in Easy Money everywhere, resulting in demand for items of conspicuous consumption, which have a demonstration effect, like High Cost cars. By and large, it is correct. During our discussion, we felt that during the last several years, RBI allowed the excess easy money through liberal lendings, to seep through Banking System. Banks instead of dispersing the funds evenly among millions of small borrowers, scattered all over the country, preferred to lend billions of Rupees to their Corporate Clients. The whetting and Credit Appraisal Process was slack. Credit disbursements were made without taking minimum safeguards about end use, so as to prevent diversion of funds. Funds borrowed by Corporate borrowers were diverted to Real Estate, and Speculation in Stock and Commodity Markets. Corporate promoters coolly and surreptiously accumulated cash, gold, diamonds, apart from spending on private planes, mansions, cars like Audi and Aston Martin.

TAIL PIECE धूमकेतु తోకచుక్క

What happened to : The Curious Incident Of Mukesh Ambani's Aston Martin In The Night-Time?

On 2nd January 2014, i.e exactly three years back, Forbes.Com reported the following curious case of an accident involving the Aston Martin Car of Shri Mukesh Ambani. Click to go to http://www.forbes.com/sites/naazneenkarmali/2014/01/02/the-curious-incident-of-mukesh-ambanis-aston-martin-in-the-night-time/. According to the report:

"...On the night of December 8, an Aston Martin Rapide, owned by Reliance Ports, a private company controlled by Mukesh Ambani, India’s richest person, hurtled down South Mumbai's Peddar Road which is a busy, traffic-choked street during the daytime and not far from Antilla, the 27-story sky palace where Ambani resides. Two security vehicles followed the speeding sports car on its post-midnight spin. ..."

"...In no time at all, the driver lost control ramming into an saloon which, buoyed by the sudden impact, crossed the road divider; it then hit a Hyundai sedan. According to reports, as the Aston Martin came to a halt due to a dislocated wheel, the driver made a quick getaway by jumping into one of the security cars that were tailing him. More than three weeks since that incident, Mumbai’s cops are astonishingly, none the wiser about the mystery driver’s true identity. ..."

"...The woman driver of the Audi initially told the cops that a young man was at the wheel of the Aston Martin. But the next day, Bansilal Joshi, 55, a long-time Ambani employee presented himself at the police station and owned up to being the driver of the rogue car. He claimed that he’d taken the Aston Martin out for ‘routine maintenance’, unearthly hour notwithstanding, and had fled because he’d panicked. As for the security cover, that was standard protocol for all Ambani cars whether a family member was in them or not. ..."

A video of the above accident is available on Youtube: Click to go to see the video https://www.youtube.com/watch?v=vtLtZZVtTbo. Here is a screenshot of the car from the video:


To continue. सशेष. ఇంకా ఉంది.