Friday, April 09, 2010

Sikkim takes next to no time to cast a spell on visitors

Early next morning, we set out for Banjkari Falls, 60 km from Gangtok. The drive on a hilly road that runs through a forest takes almost two hours. Our driver pointed towards the local village, where children in uniform were making their way to school. Banjakri Falls turned out to be a tad underwhelming. Besides its exceptional force, there was nothing particularly remarkable about it.

On our way, we stopped at the famous Rumtek Monastrey, which has a legacy of over 50 years. Its traditional Tibetan design makes the monastery a real sight for sore eyes.

Back in Gangtok, we went shopping to Lal Bazaar. Deorali is also a good option for local handicrafts and Buddhist artefacts. Pick up a metallic butter lamp if you are looking for an ideal Buddhist artefact. This lamp, which is an integral part of a Buddhist prayer, is a perfect memento from a place that you are unlikely to forget in a hurry anyways.

Other objects that might attrcat you in the market are enormous hand-woven carpets and wall-hangings reflecting the tribal culture of Sikkim. But be it carpets or wall-hangings, no matter what you pick up from Lal Bazaar, fierce bargaining is an absolute must. After the walk through the market and the haggling, we felt the pangs of hunger. So the next destination was my hotel’s restaurant – Orchid. This multi-cuisine eatery is a paradise for non-vegetarians.

On your Sikkim visit, do keep a whole day aside for a trip to Tsomgo Lake and Nathula Pass. But remember that this day has to be Wednesday, Thursday, Saturday or Sunday. On the other three days of the week these spots are out of bounds for tourists.

Tsomgo Lake is a placid water body that remains frozen during winter. May onwards the lake springs to life. You can watch Red Pandas frolic in the lake. About 56 km from Tsomgo Lake, at an altitude of 14,450 feet is the Nathula Pass - the border of India and China. But in order to visit this area, tourists need a permit from the tourism department. Visitors throng here as much to shake hands with Chinese soldiers as to savour the area's exceptional climate. But this isn't where you will get solitude. If you desire to be far from the madding crowd, then head for Lachung and Yumthang, in North Sikkim.
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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Thursday, April 08, 2010

A different era

As tourists traverse through the state's dense forests and many natural marvels, they are transported to a time when life had a mesmeric rhythm

When you decide to take a trail through the dense forest of Bastar, you’ll find the mesmerising valley waiting for you. It is called Abujhamadu, which is inhabited by some of the oldest surviving tribes in the world.

They call Chhattisgarh "a rich land with poor people". The land is indeed rich. Not only does the state have an abundance of mineral and natural resources, it is also blessed with great natural beauty. You’ll see different aspects of life and nature here. Folk traditions, culture, archaeological sites, rivers, hills, and the hospitality of the tribes who have been residing here for ages—these are things that nobody would want to miss. And then, you’ll also find that the legend about Bastar—that its forests are so dense that not even the sunlight passes through—is true down to the very last word.

Hospitality worth remembering
If you want to relive the Stone Age, Abujhamadu is the place to be. It has some of the oldest tribes alive on this planet. Amid dense forests, the locals still roam naked and depend completely on hunting to survive. Earlier, the government had kept the place out of bounds for outsiders, but it is now open to tourists. So if you are interested in having a piece of life from the Stone Age, all you have to do is to take permission from the tourism department and set forth.

The spartan lifestyle of the tribals, the intoxicating smell of the forest, huge waterfalls, artifacts from a bygone era and paintings on the cave walls are something that will transport you back many centuries. This untouched harmony between nature and the tribes is something that is a rarity. After all Dandkaranya Forest has always been a a wonderful getaway from the hustle bustle of city life. According to Ramayana, this is the place where Rama spent most of his days in exile. And this is the forest that became the backdrop of several battles between him and the demons. The stone paintings inside the caves almost bring that era alive.
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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Tuesday, April 06, 2010

The glorious picture of irony

Industry status of India's defence will enhance the standard of products

India’s defense industry is on a revival mode. It was clearly visible in a recent ‘Defense Industry Interaction’ organised by Confederation of Indian Industry (CII) in New Delhi. It was fascinating to witness participation of a lot many Indian private companies irrespective of their size. All were geared up to face the global defense giants from US, UK and other countries. While some of them were aiming to crack bigger defense deals, rest were intending to expand their network or introduce some of their products in the international market. This was enough to create an impression that India’s defense industry is opening up and is no more an oligopoly market with a few PSUs ruling the roost.

A critical look at the Indian defense industry shows that, after Independence, only 14 ordinance factories were handling all the defense industrial production required. It later went up to 40 Defense Ordnance Factories and 8 Defense PSUs. Thus, the long lasting technology gap due to indigenous and inadequate design and production by state-run enterprises followed by sudden need of modern weapons due to threat from neighbourhood and also international sanctions imposed on more than 150 products after India’s nuclear tests affected the momentum of technological progress which prompted acquisitions from abroad. That is how Russia (accounts for nearly 70 per cent of the total purchases) and Israel became the largest partners apart from Germany, Italy and the US. At the same time, realising the need of private participation after a comprehensive report on ‘Reforming the National Security System’ by the Group of Ministers (GoM) in the early 2001, the Government of India undertook initiatives to allow 26 per cent Foreign Direct Investment and full private ownership by Indian entrepreneurs in the defense equipment production companies operating from India.

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Monday, April 05, 2010

THE FOOD PROCESSING IMBROGLIO

There is an urgent need for reforms in the food processing sector, the poor, fragmented and often ignored cousin of agriculture. Such transformations would not only create hundreds of thousands of new jobs, but prove to be the catalyst for the much needed second Green Revolution in Indian agriculture.

Norman E. Borlaug, a Nobel laureate once said, “If you desire peace, cultivate justice, but at the same time cultivate the fields to produce more bread; otherwise there will be no peace.” Will a poorly managed and much ignored India’s food processing sector bring a peaceful smile on the country’s face?

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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

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Thursday, April 01, 2010

Populism can wait, the nation can’t

It’s every committee’s call – the only way for fuel subsidies in India is the way out; can the Indian government bite the bullet at the risk of losing voters and Parliamentary support?

In the Union Budget for 2010-11, Finance Minister Pranab Mukherjee has shown some gumption in tackling the issue of subsidies. Much to the chagrin of oil companies, the minister has reiterated his government’s support for cash subsidy to these companies as opposed to use of oil bonds. Consequent to restoration of basic duty of 5% on crude petroleum; 7.5% on diesel and petrol and 10% on other refined products, prices of fuels are back on the upward path. Predictably, opposition members protested their hearts out.

Politicians logically want to keep telling people the version of the truth that they want to hear. Most of us perhaps know, but rarely appreciate the fact that fuel subsidy is a slow killer hurting the Indian economy internally. As they lead to gigantic losses, government shares it with state-run PSUs from its budget, which otherwise could have been utilized in developmental projects. And as the subsidies grow bigger, the government continues to commit more and more funds from developmental projects towards the subsidies. The Financial Times estimated the fuel subsidy touching a huge $57.8 billion in the 2008 fiscal year. The budget allocation for public infrastructure in the last year was merely $4.43 billion (Rs. 20,450 crore). Imagine if the same subsidy amount was invested in revamping the public transport, people would automatically switch towards alternative modes of transport like trains, buses, et al, which would invariably reduce traffic jams, pollutions and accidents. More importantly, India would have achieved world class public transport system.

Globally, while developing countries keep fuel prices low for consumers, developed countries primarily give markets the freedom to decide prices. Fuel subsidy costs Malaysia around $14.74 billion a year, a third of the government expenditure. Likewise, it costs Indonesia a whopping $4.89 billion a year. The Egyptian government paid fuel subsidy worth a staggering $11.21 billion in 2007. And subsidy is causing a damage of around $19 billion every year to the Mexican government.

Although justified in part, subsidies are self defeating in India for many reasons. The large-scale misuse of fuel subsidies on petroleum products amounting to over Rs.1.03 trillion as per the Parikh committee is too big for the country to bear. Moreover, highly subsidized LPG is illegally exploited in non-domestic use (running cars) by the affluent class. A whopping Rs.52,000 crore subsidy on diesel in 2008-09 only helps the luxury car owners, cinema halls, shopping malls, luxury hospitals and telecom towers. Similarly, over Rs.5,200 crore subsidy on petrol every year is only helping the top bracket. With respect to kerosene and LPG, holes in the system need to be plugged. A scrutiny reveals that while the current market price of kerosene should be at Rs 26.37 a litre, it is sold at around Rs.9 a litre (cheaper than mineral water). This has led to a fuel mafia and replaced diesel with kerosene, which not only reduces the efficiency of engines but also creates heavy pollution. A NCAER study revealed that 40-50% kerosene sold under PDS is diverted and sold in the black market and the poor people buy kerosene at over Rs.22. It further causes smuggling of kerosene to Bangladesh and Nepal. This hurts public sector oil companies too, who had to bear over Rs.30,000 crore as burden for 2009.

In spite of the repeated recommendations made by the all three Committees including the Kirith Parikh, C.Rangarajan and Chaturvedi, the government is still reluctant to go the whole hog. Even if kerosene and LPG subsidies are retained (due to BPL concerns), diesel and petrol should be left free for the markets. If the communist China can hike fuel price by five times in 2009, it’s high time India does too. The current budget has taken some steps. One more please!
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Source :
IIPM Editorial, 2009


An IIPM and Professor Arindam Chaudhuri (Renowned Management Guru and Economist) Initiative

Read these article :-

Outlook Magazine money editor quits
Don't trust the Indian Media!