Innovative Bangladesh

As per finance ministry of Bangladesh, its citizens have hidden / stashed away, some $ 110 billion worth of black money.

That nearly equals 80 % of country’s GDP.

How to bring this black money into the mainstream economy and put it to productive use ?

With that objective in mind, Bangladesh parliament just passed a new law that would enable tax-evaders to invest such monies into local stocks / shares officially.

All they need to do is to pay 10 % of invested monies as tax.

And no questions asked as to the source of their funds !

While grappling with the monster of black money, it is a “ no holds barred “, as far as Bangladesh is concerned.

May be Indian parliamentarians can learn a lesson from their innovative neighbors !

With regards

hemen  parekh

UNITED STATES OF UNEMPLOYED - USU ?

8 July 2011

UNITED  STATES  OF  UNEMPLOYED -  USU  ?

In “ Mint “ [ June 25, 2011 ], Liz Mathew and Ruhi Tewari, present following findings from the 66th round of NSSO [ National Sample Survey Office - India ] survey  :

 Ø            Number of Jobs generated

 #   Between 1999-2000  to  2004 / 05  ……..  62  Million

#   Between 2004 /05     to  2009 / 10  ……..    2  Million

 Ø            Growth in Employment Rate

 #   2004 / 05  ……………………………………………………42 %

#   2009 / 10   …………………………………………………..39.2 %

  Ø    Addition to workforce ( 2004 to 2009 ) …………..55  Million

  Conclusion ?

Since only 2 million Indians could get jobs out of 55 million added to the workforce , 53 million joined the ranks of  “ Un-Employed “ in 5 years between 2004 / 5  to  2009 / 10.

 It would be a safe guess to say that another 53 million will join this “ Army of Jobless ” in the next 5 years , ending with 2014.

When it starts marching, no border will be able to stop this army!

Let no one doubt that India is on its way to become another United States – a  “ United States of Unemployed – USU “ !

With regards

HEMEN  PAREKH

WHAT IS THE GREAT HURRY ?

7 July 2011

WHAT IS THE GREAT HURRY ?

Central Bureau of Investigation – India ( CBI ), submitted following score-card recently ( DNA / June 27, 2011 ) :

Ø      Age-wise analysis of all pending cases :

             

·        Cases pending for more than 20 years ……….   381

·        Cases pending for more than 15 years ………   1000

·        Cases pending for more than 10 years ………   2300

Ø      Cases pending for more than 10 years – State wise :

·        Delhi ………………………  458

·        West Bengal …………….338

·        Uttar Pradesh ………… 282

·        Maharashtra  …………  264

·        Gujarat ………………….. 156

·        Jharkhand  ……………….150

If this is the situation when only a handful of persons ( Chief Ministers of 28 Indian States + High Courts ? ), can demand / order a CBI inquiry, what would happen when millions of ordinary Indian citizens, start demanding a Lokpal / Lok Ayukta investigation against 12 million government servants?

May be, we should prepare ourselves to seeing Lokpal investigation statistics in terms of :

Ø      Cases pending for  1  Century  ………….

Ø      Cases pending for  2  Centuries ……………

With regards

HEMEN  PAREKH  

WOMEN AND THEIR RIGHTS

7 July 2011

WOMEN  AND  THEIR  RIGHTS 

Writing in Economic Times ( 7 July,2011 ), Saumya Bhattacharya highlights following :

  

·        In 125 countries, there are laws to protect women

·        Globally, 53 % of 600 million working women are in vulnerable jobs

·        On average, women are still paid 10 % - 30 % less than men across all regions and sectors

·        117 countries outlaw sexual harassment in the workplace

·        311 million women continue to work in countries without legal protection against sexual harassment

·        Out of 126 countries, in more than a third, women are prohibited from working in the same industries as men

·        There are less than 30 % women in parliament in the vast majority of countries

Obviously, there are more “ wrongs “ than “ rights “ for women in most countries !

  

With regards

HEMEN  PAREKH  

TEMPLE TREASURES

7 July 2011

TEMPLE TREASURES

Times of India [ July 05,2011 ] reports following re: wealth of various temples of India:

·     Padmanabha Swamy  …Rs. 100,000 crores ($ 25 billion)

·     Tirupati  ……………………Rs. 42,000  crores  ($ 10 billion)

·     Puri Emar Math  ……………Rs.      90 crores

·     Shirdi Sai Baba Temple ………Rs.     32 crores

·     Siddhi Vinayak Temple  ………Rs.   125 crores

·     Vaishnodevi Shrine  ……………Rs.   500 crore/yr  (income)

·     Guruvayoor Temple  …………….Rs.    125 crores

·     Satya Sai Trust ………Rs.   40,000  crores ($10 billion)

Then, Times of India lists a no of “ Social Benefits “ which can be effected with this “ Wealth “.

No doubt, putting this wealth to productive uses can,

·     build a lot of badly needed infrastructure

·     give jobs to millions of unemployed

·     lift millions above the “ Poverty Line “ ( Rs 20 / day )

·     save the lives of 3 million children dieing of starvation annually

In fact, some temple trusts ( Satya Sai Baba / Tirupati Devsthanam etc ), have been, regularly putting their income to such socially beneficial uses.

We must encourage all temple trusts to deploy their wealth for the educational and medical help of the poor.

We must not be tempted to set up some Central Body to take over and (mis) manage the temple treasures !

As far as “ Ancient / Antique / Heritage “ items are concerned ( Statues / Coins / Artifacts etc ), let these be displayed in museums, next to each temple.

With regards

HEMEN  PAREKH

NO ONE’S MONOPOLY !

7 July 2011

NO ONE’S MONOPOLY !

Crimes [ whether against women or men or children ], must be deplored , irrespective of where / when they take place. They are indicative of a breakdown of law and order situation.

But obviously, in present day India, crimes against women are not a monopoly of any particular state, as can be seen from the following statistics reported in DNA ( mid June, 2011 ) :

Ø      Crimes against women per 100,000

• Andhra Pradesh  ……………………..  30.7

• Rajasthan   ………………………………   26.2

• Delhi  ……………………………………….  23.9

• Madhya Pradesh  …………………….. 22.3

• Haryana  ………………………………….  21.9

• Gujarat  …………………………………..  13.9

• Maharashtra  ……………………………  13.8

And what is the response of the politicians to this sad state of affairs ?

Play a blame game. Play to the galleries. Blame the state government if it is managed by an opposition party.

Politicians who live in glass houses, should not throw stones at others !

With regards

HEMEN  PAREKH

In India, cash is the King !

DNA ( June 27,2011 ) reports :

Ø      No of Rs 500 + Rs 1000 notes in circulation in India

        >          17.1 % by volume

        >         76.5 % by value

And, most likely no more than 1 % by frequency of circulation !

Ø   Highest denomination bank notes in

       USA ..         100  Dollar ( 100 times smallest note )

           UK  .             50  Pound ( 50 times smallest note )

           India .        1000  Rupees ( 1000 times smallest note )

USA / UK have avoided higher denomination notes, only because they facilitate corruption , money laundering etc.

Monetary authorities in USA / UK have found a link between high value bank notes and clandestine dealings.

No wonder our politicians are reluctant to de-monetize ! 1000 rupee notes are so easy to carry / store / give / receive – even brandish bundles in parliament !

De-monetization is certainly not the only answer to the problem of black money in India, but it could well be a part of the solution.

With regards

hemen  parekh

NSSO WORKFORCE SURVEY – INDIA

2 July 2011

NSSO  WORKFORCE  SURVEY – INDIA

66^th Round of survey by National Sample Survey Office revealed following :

·     “ Unemployment “  related  findings

#  Self Employed ……………………….  51 % of total workforce

#  Regular Wage Earners  ………….  15.5 %      “

#  Casual  Labors ……………………….  33.5 %      “

·     “ Ave. Daily Wages “ related findings

#  In urban areas ………………………….. Rs. 365

#  In rural areas  …………………………..  Rs. 232

#  For male workers  …………………….. Rs. 249

#  For female workers  ………………….  Rs. 156

·     “ Percentage of workers earning regular wages “

#  Amongst urban workforce …………. 41.4 %

#  Amongst  rural workforce  ………..    7.3 %

·     Per Day wage rates for Casual Labor

#  In urban areas ……………………………. Rs. 122

#  In rural  areas ………………………………Rs. 93

·     Gender-wise Daily Wages for Casual Labor

In Rural Areas

·       Male Workers  /  Female Workers .. Rs.102 / Rs 69

          In Urban Areas

·       Male Workers / Female Workers ……Rs 132 / Rs. 77

Apparently, Indian Nation is deeply divided along,

·     Male  /  Female  divide

·     Urban  /  Rural   divide

·     Rich  /  Poor  divide

·     Powerful  /  Powerless  divide

·     Self Employed  /  Unemployed  divide

Can you think of some more ?

[ Source : Economic Times / June 25, 2011 ]

With regards

HEMEN  PAREKH