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My Notes 05-03-2018 05-03-2018
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05 march 2018


Congress outsmarted in Meghalaya

Though Congress emerged as a single largest party in the recent assembly elections , it failed to form the Government. National people party leader was invited by the governor to form the Government.


PNB scam hits buyer’s credit

Interest rate on Buyer’s credit has increased from 20-25bps over LIBOR to 50-60BPS over LIBOR. It has affected business for small traders.


Myanmar Puts off Border pact

Border pact is to allow people living with in the radius of 16km of border to freely move in and out. It is to encourage trade in the border areas. Myanmar has backed off from the pact for unstated reasons.


Solar goal for 2022 too hot to handle

Govt of India aims to achieve 100gw of solar power by 2022. but, there are many challenges to overcome.

  1. Import duties imposed by Government on solar panels.
  2. GST raised to 5% on solar panels.
  3. Fall in price for Solar power. States are revising their PPA.
  4. Sluggish rooftop installations.


A regulator to oversee the CA institute is necessary

Across the world, Audit functions are regulated and supervised by independent, professional agencies.

For example, USA has created public companies accounting oversight board under the sarbenes-Oxley act,2002. Similarly, UK has an independant regulator, financial reporting council.In India, prescribing of Audit standard, their implementation and oversight is left to Institute of charted accountants of India.  It failed to meet expectations of Nation and people. so, creation of National financial reporting Authority is a step in right direction.



The Saffron Breeze in North East

  1. Elections in India are an interplay of a strategy, interests and ideology. Recent BJP victory in Tripura is a reflection of this. BJP ability to play in to the minds of middle class voters through development plank, tribals through an alliance with Indigenous people front of Tripura have provided her with rich dividends.
  2. In Nagaland, BJP is able to take power by an alliance with National democratic progressive alliance ( Split faction of Ruling National People front)
  3. In Meghalaya, though congress emerged as a single largest party, it is short of required majority to form the Government. Governor has invited National people party - which has the support of BJP and Independents to form the Government.

Challenges still remain

  1. In Nagaland, BJP has to deliver a final settlement for Naga issue.
  2. Delivering developmental promises and attracting investment in to Tripura.
  3. Managing the coalition in Meghalaya.


New star in a crowded sky

  1. Tamil Nadu politics are facing a leadership crisis.
  2. Rent seeking is on rise and there is a secular decline in governance quality.
  3. Politics are effectively marketed through money power.
  4. Patron client relationships guide the process of electrons. Electoral networks based on the above relationships are deeper.
  5. Dravidianism do not exist in its radical form today. But, Tamil exceptionalism can pull votes even today.

Entry of Kamalhasan in to Politics at this juncture is definitely a right move. But, it needs an articulation of vision and creation of an organisational structure and culture that moves away from rent seeking.


Small Arena, Big win

BJP electoral victory in North East states is of specific importance for the following reasons.

  1. Left is an ideological enemy for BJP.  Alliances fostered by left Kept BJP out of power for many years. Any idea of revival of third front will be lost with weakening of left.
  2. It is a strong indication for building Party’s future in to other left Bastions like West Bengal and Kerala.
  3. Congress - an Anti left faction Tripura is made insignificant.


Avoid trade wars

President Trump has recently announced Tariffs on Steel and aluminium. His stated reason is to correct trade deficit of USA. It appears more populistic and has little regard for economics. If every country tries to impose Tariffs and gets in top currency wars, it will affect international trade. It can make every country poor.


Righting wrongs in the land acquisition

Land acquisition act 1894 is one sided and is favourable to the state. Right to fair compensation and Transparency in land acquisition, Rehabilitation and Resettlement act 2013 is aimed to shift balance in favour of citizen in matters of land acquisition.

According to section 24 of this act, if land acquisition award has been made five years prior to the new law coming in to force and no compensation is paid or if there is no physical possession of land - Government shall return their land back. Here, if compensation is not accepted by the incumbent property owner, it need to be deposited with court.

Supreme Court of India in Indore development Authority vs Shailendra case has diluted the above provision through following announcements.

  1. In case land owner do not accept compensation, it is sufficient to pay compensation to Treasury.
  2. Any injunction or stay order given by courts can not be counted in to the calculation of five Years,




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