Hi Friends,

Even as I launch this today ( my 80th Birthday ), I realize that there is yet so much to say and do. There is just no time to look back, no time to wonder,"Will anyone read these pages?"

With regards,
Hemen Parekh
27 June 2013

Now as I approach my 90th birthday ( 27 June 2023 ) , I invite you to visit my Digital Avatar ( www.hemenparekh.ai ) – and continue chatting with me , even when I am no more here physically

Saturday, 20 June 2020

Congratulations , Shri Mahesh Kumarji



Congratulations , Shri Mahesh Kumarji


( Principal Secretary-Urban Development – Govt of Maharashtra / sec.ud1@maharashtra.gov.in / sec.ud2@maharashtra.gov.in )




What For ?

For considering my suggestion in respect of Street Vendor Loan Scheme [ SVaNidhi ]



What was your suggestion ?

Ø  Do away with condition of “ who have been vending on or before March 24 “

{  Unfortunately , this suggestion does not seem to have been accepted }


Ø  Give loan to ANY unemployed person who “undertakes “to become a Street Vendor { whether he is already been registered as a vendor, or not }

{  This appears to have been accepted  }




Can you elaborate  ?


In my following blog / email, I wrote :
         Providing Jobs : a Fundamental Right ?   ……………………..[ 07 June 2020 ]


Dear Shri Narendrabhai,

I urge you to tell the government officers :


“ Just get out of the way of persons trying to become Self-Employed.


If any rule / regulation comes in the way of a person trying to become Self Employed, just go ahead and drop / delete that rule.

No matter how many Unlock periods follow, India is unlikely to get back to GDP of even 5 %, unless we succeed in Unlocking the Self-Employment potential of our people


PM-SVANidhi ( Street Vendor Loan Scheme ) is an excellent example of this “ Process of unlocking the Self-Employment potential “


But vested interests and “rule–bound“ bureaucrats [ MNRE officers + Bankers + Municipal Officers + Police ] will, most likely ensure that this scheme is “ Still Born “ !


Please , tell them :


“ Although this Scheme envisages making 50 lakh Street Vendors become Self Employed ( at budgeted outlay of Rs 5,000 crore ), I challenge you to remove all road-blocks and give loans to 500 lakh street vendors “

========================================================

Earlier , I wrote :

Thank You, Shri Hardeep Singh Puriji   …………………………………………..[ 01 June 2020 ]


 Ø  While sanctioning loan, it must NOT be denied even if a vendor is UN-LICENSED  ! 



Ø  Madam Sitharamanji , in her press briefing, had said : “ We received this figure of 50 lakh vendors, from various State Governments “


Ø  If “ License Requirement “ is made a condition for granting loan, than I am afraid, 45 lakh vendors will get “ disqualified “ !


Ø  In fact , in my earlier emails, I had advocated granting this loan to ANY unemployed person , who wants to take up “ Street Vending “ as a trade , with no prior experience in Street Vending !

=========================================================


Even still earlier, I wrote :

Street Vendor Loan Scheme ……………………………………………………………[ 14 May 2020 ]



    While granting online VENDOR LICENSE, government shall sympathetically consider :


#   Migrant Workers stuck in a city ( estimated 35 lakh in Mumbai alone )


#   MSME factory workers who have lost their jobs


#   Domestic servants who are sitting idle at home ( irrespective of govt pleading, no
     home-owner is likely to pay them wages for April )


#   Construction workers who have lost their jobs


#   In Mumbai , existing 3 lakh hawkers who ply their trade from slots on footpath

====================================================

What makes you think your suggestions are being “ considered “ ?

Following news report in yesterday’s Times of India :

Extract :
Ø  The civic official said those with identity cards issued by civic bodies were eligible.
     Those whose names are there in the survey, but do not have identity cards, should
     be given temporary cards or their names must be recommended.
    Migrants who have shifted to their home states and are planning to return to
    Maharashtra are also eligible

Ø  “Street vendors play a significant role in ensuring availability of goods and services at affordable rates at the doorstep of city dwellers. We have proposed to grant benefits to vendors, who had been vending on or before March 24, and till March 2022,’’ he said

Ø  “Any vendor, registered or unregistered, can apply for a loan of Rs 10,000 under the scheme. The loan will have a year’s tenure, with interest subsidy at the rate of 7%, provided repayment is punctual,’’ Pathak said

======================================================
Copy of this email being sent to following State-level Urban Development Secretaries :

=========================================================
With regards,

Hemen Parekh
hcp@RecruitGuru.com  /  21 June 2020

Wednesday, 17 June 2020

Crypto : Corruption : Corona : China



At one time, I was opposed to Crypto-Currencies ( eg : BitCoin ) because of its potential for money laundering / corruption etc . 


That made me write following blogs / emails to our Cabinet Ministers :


 In the Eyes of the Beholder ? ………………………………………[ 06 Aug 2017 ]

Virtual Currency ? Time to get Real  …………………………….[ 17 Aug 2017 ]

One  More  Reason ………………………………………………………..[ 22 Nov 2017 ]

What is holding back ?  ………………………………………………….[ 06 Dec 2017 ]

Bursting Bitcoin Bubble ? ……………………………………………….[ 10 Dec 2017 ]

Bitcoin : Illegal in India  …………………………………………………[ 02 Jan 2018 ]

 

Then by early 2019, I learned about Facebook’s plan to dominate the e-Commerce of entire world through launch of its own / proprietary ( non- Sovereign ) Crypto Currency called LIBRA

 

That made me write / send following e-mails :


LIBRA : The coming battle of Currencies ?  …………………[ 29 June 2019 ]

LIBRA : Am I the only one worried ?  …………………………..[ 05 July 2019 ]

Who is afraid of the Big Bad Wolf ( aka LIBRA ) ?........ [ 07 July 2019 ]

Latest word on LIBRA : though not the last word………….[ 10 July 2019]

 

Then came the following news that made me re-think and consider, the POSITIVE aspects of a Crypto-Currency , if it were to be :

 

Ø  Backed and regulated by Government of India / RBI

Ø  The ONLY crypto-currency of India ( no other  “ private minting “ by anyone )

Ø  Totally replaces CASH [ paper currency notes ] from our economy ( full digitization ),

 

Will China Reign Supreme ?   …………………………………………..[ 15 Oct 2019 ]

Elephant Bonds vs Dragon Bonds …………………………………….[ 04 Nov 2019 ]

 

Then, when I read the following news, I felt elated :

India’s Draft National Strategy On Blockchain Calls For Official Cryptocurrency[28/01/2020 ]

 

And sent following email to Cabinet Ministers :

Time to Un-Block the Blockchain Technology  …………………..[ 30 Jan 2020 ]

 

Then came following depressing news :


With a law, India plans lasting ban on cryptos  ………………….[ 12 June 2020 ]



Extract :


Ø  The panel, headed by former finance secretary Subhash Garg, had, in its report, advocated a ban on all forms of private virtual currencies, though it asked the RBI and the government to look at introduction of an official virtual currency



What will convince RBI / Government to issue OFFICIAL VIRTUAL CURRENCY ?

Here is a brief ( non-comprehensive ) suggestion for proposed Law :


Ø  While banning Private Crypto, introduce IndiaBit ( Govt Virtual Currency )

Ø  With some effective date , withdraw all Paper Currency ( forget coins )


Ø  Minimum denomination will still be called a RUPEE ( easy to convert from paper to digital )


Ø  As of a date , bank balances in everyone’s bank account gets converted to IndiaBits

Ø  Set time limit within which people can deposit their paper currency into banks for instant conversion into IndiaBits


Ø  After set date, paper currencies held by anyone ( individual or any legal entity such as a Company ), loses all value and become illegal for any sell / purchase transaction

Ø  All future financial transactions ( sell / buy of any goods or services ) can only be through mobile-app based DIGITAL transactions


Ø  Since all transactions will become DIGITAL , Govt would have full / life-time LOG of each citizen’s “ Sale or Purchase “ [ Who bought What , When , from Whom , at What price , Where etc ] .


Ø  Here is why automatic compilation of such CONSUMPTION DATA for the entire economy, will be a GAME CHANGER :

          Economic data will help policy  ……………………………… 16 June 2020



Extract :

Ø  What were household incomes before the coronavirus pandemic? Were they enough to meet consumption needs? Were rich households more debt-ridden than their poor counterparts? Which parts of the country are likely to suffer from interruption of remittances due to reverse migration?


Ø  The latest available consumption expenditure survey dates back to 2011-12.


Ø  With no credible official data about the economy, policymakers will be groping in the dark. This will also prevent an informed public debate.

Ø  For example, the Reserve Bank of India could work with banks and payment companies to provide a geographical map of remittance flows before the pandemic. Phone companies should be asked to share information on SIM card movement patterns to give an estimate of reverse migration.



    Making Goods and Services Tax input credit chains public could give an insight into
   value chain linkages and potential interruptions due to the lockdown. But, to begin
   with, the government should release the National Sample Survey Office’s 2017-
   18 Consumption Expenditure Survey, which it had hastily scrapped last year. This is
   literally a click away.



Dear Smt Nirmala Sitharamanji / Shri RaviShankar Prasadji / Shri Piyush Goyalji,


I have no clue as to what mechanism could be used ( Inter-Currency Exchange Rate ) for payment for Imports and remittances for Exports , if – and when – we introduce IndiaBit



But if IndiaBit can ,


#  To begin with bring out all BLACK MONEY ( stashed away as paper currency notes )

     and deploy the same into mainstream economy for productive purposes , and


#  Put a Full Stop to any future generation of Black Money ,


-      then my proposal deserves a debate



With regards,


Hemen Parekh

hcp@RecruitGuru.com  /  June 18, 2020


   

 

 

 

 

 

 

 

 

 



Tuesday, 16 June 2020

Covid : a later day Shikhandi ?



In Mahabharata , we learned :

Arjun was simply unable to defend himself against the volley of arrows , coming from Pitamah Bhishm


There was hardly any question of being able to defend his army and his brothers


Realizing that Arjun was no match for the archery of Bhishm, Lord Krishna advised him :


“ Arjun , hide behind Shikhandi – then shoot your arrows to Bhishm.

Shikhandi belongs to third gendre and Bhishm will never shoot arrows which may hurt Shikhandi “


When Arjun followed Krishna’s advice, Bhishm lay down his bow and stopped shooting arrows


For the rest of the story  , read Mahabharat ( or watch TV Serial )


In today’s later-day version, China seems to have found its own Shikhandi in the form of Corona

With a difference

Whereas Arjun was fighting for his rightful “ share “ in the Hastinapur kingdom , China has “ exported “ Corona the Shikhandi “, all over the world , to weaken from within, the economies of these countries !


China has succeeded in getting countries to divert all their resources for fighting this “ invisible enemy “ – even as that “ visible enemy “ China, secretly mounts following kinds of attacks , with some “ feeble “ resistance  :


Ø  Attacking Indian soldiers and killing 20 , as reported in media this morning

Ø  Attacking the democratic set-up in Hong Kong

Ø  Crushing the voice of peace-loving people of Tibet

Ø  Sabotaging the parliament of Nepal

Ø  Taking over a major port in Sri Lanka

Ø  Posting thousands of its workers in Pak-Occupied-Kashmir , under pretext of OBOR

Ø  Constructing artificial islands in South China Sea for putting up Military bases

Ø  Repeatedly threatening to “ annexe  Taiwan

Ø  Giving all out support to North Korea to threaten whole world with its Nukes

Ø  Taking possession of a strategic port near Karachi – Pakistan

Ø  Buying out most of the mineral mines, all over Africa

Ø  Waging trade wars with most countries of the World by dumping its products


This list is, by no means, comprehensive ! Hardly a day begins without some Chinese attack on yet another front !

A few western countries have come together and formed some sort of a United Front to thwart the Chinese ambition of Global Domination

With yesterday’s attack on its soldiers, India may be tempted to join such a Front

Within the next few days, country after country , will come forward to condemn the Chinese attack on India and express their “ support “ for India


Question is :

Not that we should even think of it, but, in case of an all-out ( or even a limited ) war with China , how many of these “ supporters “ will be willing to send their own armies to join the Indian army at the border to fight the Chinese ?


Short Answer :

None



Of course , most of these countries ( notably, USA – Russia – France – UK – Germany ), will offer to “ Sell “ to India, all kinds of tanks – rockets – fighter planes – missiles etc., on easy Credit Terms  !

By keeping India and China at “ daggers drawn “, and thereby selling billions of dollars’ worth of weapons, these western countries can revive their own Covid-ravaged sagging economies and provide millions with jobs they have lost !

They have no love lost for starving migrant Indian workers !

Leaving aside any boycott of the Chinese Goods, none of these western countries will allow India-China skirmishes to come in the way of “ exporting “ their own goods to China ( or India )

Forget all talk of FREE TRADE and GLOBALIZATION and MULTI–LATERAL trade agreements ( and, may be WTO ? )

In this “ Dog eat Dog “ world , it simply boil downs to :  Each on his own and Each for himself  :


In a World-wide global Trade War, there are neither any permanent friends nor any permanent enemies

Hey !

We cannot even trust that “ Enemy of Enemy “ as a Friend  !


So , what is the way forward  ?


Ø  World has to learn to live with China- whose existence cannot be wished away

Ø  Notwithstanding this “reality of life “, world must unite to do away with political or economic domination of any one country ( eg : USA – Russia – China ) or any block of countries ( Eg; NATO – CENTO – EU etc )

Ø  Even as poor countries struggle to provide a single meal to its starving people ( over 1 billion ), rich countries would have to accept a lower “ Standard of Living “ ( 1 % GDP for 10 years ? )

Ø  10 % of the people of the World, just cannot be allowed to own 90 % of world’s wealth. Political – Economic and Legal solutions will have to be put in place whereby, by 2030, there is a much more “ Equitable Distribution “ of world’s wealth .

Ø  By 2030, 40 % of the people must own 80 % of the World’s wealth , with the remaining 60 % of people owning the balance 20 %  of the wealth

Ø  There will have to be some UPPER LIMIT on the wealth of a person or a country

Ø  Despite such lofty / desirable goals  having been aired in the past, neither Capitalism , nor Communism nor Socialism , have been successful in reducing this “ Inequity “ between the few extreme RICH and the billions of extreme POOR

Ø  As far as the choice of a system of POLITICAL GOVERNANCE is concerned, let there be a debate whether multi-party democratic pluralism , should be tried 


Those keen to engage in such a debate, may want to look up :

Boycott Chinese Products ? A Game Two can play  ………………………………..[ 09 June 2020 ]


Dear Shri Modiji,


No one knows it better than yourself that this is NOT a ZERO-SUM game, where one party wins and the other party loses


The only sensible thing is to “ Keep Talking “ , keeping in mind

Nash Equilibrium ?   ……………………………………….[ 20 Sept 2017 ]




With regards,


Hemen Parekh

hcp@RecruitGuru.com  /   17  June  2020