Bharat (2014-2019)

Pre-Naren Bharat in 2004 to 2014

India’s growth consisted of openness and it withstood
external turbulence. India was not buffeted by East Asian
crisis of 1997. Its economic performance showed further
improvement recently. Starting in 2005, the GNP of India
grew at over 9.5 % per annum for three years. Our
growth rate slowed down after the global financial crisis
in 2008 but India was even then among the three or four
fast growing nations in the world.
Anti-incumbency got them out in 2014
 PLAYER IN TWENTIETH CENTURY

OVERALL DEVELOPMENT
India did make significant progress in several spheres:
agriculture, irrigation, atomic energy, space, information and
communication technologies and science education.
To ensure ecological security, provide safe drinking water,
better health, employment, peace and equity, India has to
utilized science and technology effectively. There is a need
for a strategy for the future, using the combined strength of
science and socio-economic sectors. Rahul did not impress.
 Player in this Global Century

That India will be a

significant player in this Global Century is assured, but how
competitive it will be on a sustained basis over the course of
the century should be realized. It is hard to become a
significant competitor in any sphere of human activity. One
has first to get recognized as a major player in an arena. Also,
it is important to maintain and sustain a competitive position
even though it can be just as hard as, if not more difficult than,
developing one.
You can compete globally on
three dimensions: efficiency, local responsiveness, or
innovation. Let us see a leader who showed an example. JRD
Tata did so much to lay the foundations of business enterprise
during the 20th century. India became a economic
superpower in the 21st century. With emphasis in India on
buying swadeshi, Tata’s NELCO subsidiary led a
transformation in which India went from importing nearly all
the approximately 2 million radios sold in the country annually,
to manufacture nearly all of them itself.
During the same decade,
the Tata Engineering and Locomotive Company, or TELCO,
created its own foundry and forging shop to construct truck
parts that had previously been imported, dramatically also of
increasing production and sales not only of trucks but thus
tractors, excavators, shovels, cranes, and back hoes,

spurring the growth of entire sectors of the Indian domestic

economy. In 1944, JRD Tata and the other Indian business
leaders had formulated the Bombay Plan to chart the course
of India’s economic development. ‘Air India’ was also a Tata
enterprise _ now in trouble under government management..
 A leader who showed an example

In the 1960s, with India’s

role in international politics and the world economy
increasing, JRD Tata looked abroad for opportunities and
formed Tata International AG and Tata Exports to cultivate
international markets for Tata products and services. JRD
also recognized the power of computers and information
technology and opened Tata Consultancy Services, or TCS,
In 1968. Tata’s TELCO opened an Engineering and
Development Research Unit that, five years after its
establishment in 1966, evolved into Tata Motors.
The emergence of a
new class of entrepreneurs— like Reliance, Infosys
and Wipro, that took advantage of the liberalization of
the Indian economy to challenge established Indian
companies from within—at the same time that these
established companies were facing the competitive
threat from multinational companies entering from
abroad, created a dynamic competitive ecology that
was enormously healthy for the Indian economy.
 Narendra Modi
A new Leader of India from 2014
Narendra Dāmodardās Modī
was born on September 17, 1950, in Vadnagar, in Mehsana
district of Gujarat. After his schooling in Vadnagar he said, he
did a Masters degree in Political Science_ Gujarat University
through distance edu method. Modi started as a Tea-Seller on
Ahmedabad Bus Station. Modi was among the first to possess
a digital diary. He is always well groomed. He goes for made-to-
order Modi kurta with hand-tailored button holes. He is at home
in Western attire too. He has a weakness for designer fountain
pens - Montblanc.
Modi stood accused of failing
to stop communal riots in Gujarat in 2002, when he was Chief
Minister of that state.
On February 27, 2002, a deadly train fire in the city of Godhra
killed 58 Hindu pilgrims. In the weeks that followed, Hindu
mobs targeted and killed an estimated 2,000 people, mostly
Muslims, and left over 100,000 homeless. Women were raped;
infants and children were killed. Even prominent Muslims like
former Congress Party Member of Parliament (“MP”) Ehsan
Jafri were not spared.
 no evidence to prosecute
 A special investigation

team (SIT) appointed by the Supreme Court to

investigate the role of Modi and others in the

violence said in a 541-page report in 2012 it could

find no evidence to prosecute the chief minister.

 Most importantly, it cleared Modi of the most damaging

allegation: that he had told senior officials to allow Hindu
mobs to vent their anger.
 focus on development
In the aftermath of the riots,
Modi went to work improving his reputation.
“What he has done is change the narrative and go for
(economic) development,” says Swapan Dasgupta, a New
Delhi-based political analyst who has advised BJP leaders on
media strategy.
“From 2002 onwards he does not mention the riots any
more. It does not come into his speeches. This focus on
development was backed up by a very powerful publicity
machine.”
 Endorsed by TIME

 Narendra Modi
transformed Gujarat into a story
developmental success

appreciated the world over. TIME endorses his ten year long
journey of progress becoming “India’s most industrialized and
business friendly territory” it further identifies the drivers of his
success as “good planning-exactly what so much of India lacks,”
and a leader with the ability to get things done.
Former PM Manmohan Singh too was a respected &
loved leader (He lost election in 2014)
New York: Prime Minister Manmohan Singh topped
Newsweek Magazine's list of 10 world leaders who
have won respect and is described as "the leader
other leaders love" though India figures at 78th
place in the list of 100 best countries.
77-year-old Singh, who was into his seventh year in office, had played
a "key role in India's emergence as one of the rising powers of the
21st century."
In an article titled "The Leader Other Leaders Love", the magazine
said the economist-turned-politician Singh, engineered the transition
"from stagnant socialism to a spectacular takeoff in the global
economy."
May 27, 2014
New Delhi, India. Yesterday, Narendra Modi of the
Bharatiya Janata Party (BJP) was sworn in as India’s
fifteenth Prime Minister.
Modi ran on a pro-growth and anti-corruption platform, and
his party won a landslide victory in parliamentary elections.
By electing the BJP by outright majority—282 of 543
seats—voters voiced their discontent at chronic corruption
scandals, high inflation and poor economic growth.
 Sab ka Saath, sab ka Vikaas?
May 27, 2014
Is bakwaas ne dilaaya tha vishwaas!

First Budget by
Arun Jaitley (also called Jhootlay by enemies), Modi’s FM:
 Trim expenditure,
 Raise resources through encouraging private investment to
revive growth,
A program of disinvestment of public assets to mobilise funds
from the sale of the government’s stake in non-government
companies.
 Raise FDI in defense production units
 In Sept. : Cleared the sale of partial stakes of Govt. in ONGC,
CIL and NHPC _etc.
Modi listed top 10 priorities, to fix 100-day agenda:

P M Modi asked his ministers to prepare a list of issues that

are to be talked of, while also unveiling a list of the top 10
priorities. After the cabinet meeting the P M "stressed on
efficient overall governance, delivery systems and apparent
implementation of programmes". Modi asked his ministers to
give priority to issues that were pending or were nearing
resolution. Modi's list of priorities (to be talked about)
included contain inflation, improve education, creating
reforms in infrastructure and free the bureaucracy.
Natural disaster in J & K then,
In Kerala in Aug. 2018

Sept.: Srinagar: As waters

receded in Jammu and Kashmir, tempers flared

among many of those affected by the state's worst
floods in 100 years. They have accused the state
government of not doing enough to rescue the
hundreds of people stranded in floodwaters six days
after the floods.
Jammu and Kashmir:
Economic loss due to floods above 5,000 crore Floods
in Jammu and Kashmir have caused an initial
estimated loss of Rs 5,400-5,700 crore to the state's
economy, according to the Associated Chambers of
Commerce and Industry of India. Railways, power and
communication in the hilly terrains have suffered about Rs
2,700-3,000 crore of losses, while losses to hotels, trade,
agriculture and roads is estimated to be Rs 2,630 crore. The
tourism industry will be the worst hit.
Many people are developing a familiarity with roofs they
never thought they’d have. Javaid Ahmad of Jawahar Nagar,
is among them. He, his wife and two children spent two days
on theirs, before being rescued. “Water was entering from our
second floor,” he said. “We somehow managed to find a way
through to our rooftop and stayed there till the time we were
taken out by locals. I could only see the rooftops of other
houses. Everything else was under the water.”
Chief Minister Omar Abdullah
had claimed that before the heavy rains began late last
week, warnings were announced at mosques and from police
vehicles, urging residents to move to higher ground. "I am
sorry to say that they willingly ignored these warnings ...
choosing to stay where they are," Mr. Abdullah said.
Nearly 80,000 people have been rescued in a non-stop,
tireless operation by the armed forces and the National
Disaster Response Force or the NDRF.
Exceptionally high rainfall Kerala - August-2018: Floods, Landslides.

In Kerala state, from the beginning of the monsoon

this year(2018), rainfall was exceptionally high: 42 %
above normal from June 1 to August 19, according to
the meteorological department. Kerala received a
staggering 164 % above normal rain in the August 1-
19 period. This was a national disaster in magnitude.
Climate Change: Heavy Rain

The situation

in the Jammu region has stabilised and the focus is now on

providing relief material on the ground, officials said.

Nearly 68 relief camps have been set up in the Jammu sector.

The skies have cleared and water levels have come down
although road connectivity in several parts is in need of
restoration.
A pet plan of PM Modi's is
building 100 smart cities, as the country is in the middle of a
massive wave of urbanisation.
Modi started in Gujarat with the Greenfield Gujarat
International Finance Tec-city (GIFT). This venture is now
proceeding rapidly, as it has been allotted 11 million sq. ft. for
construction. As he moved to the Centre, Modi has started
work on implementing the idea all across India. It is among
his few plans that may move smoothly ahead.
The concept of a talk of a
smart city was driven around the world initially by
IBM and Cisco. It has caught the imagination of
many now. Lavasa, near Pune, was an early
example. A 4,500-acre township called Wave City
near Delhi was another. These were followed by
seven cities along the DMIC, which are now under
development. Tumkur — along the Bangalore-
Chennai corridor is also considered.
 Acche Din may be here, Businessmen,
Indian consumers, wait !
A stubborn inflation rate,

means that ordinary Indians are still being cautious. Investors

might be happy with a huge amount of foreign funds flowing
into India over the last few months, but their glee has not been
infectious. Consumers remain reluctant to part with cash.

The markets don’t always reflect the economy or vice versa.

The latest industrial production numbers suggest the initial
cheer that followed Modi’s victory has washed out of the
system.
o Demographic dividend is the result of demographic transition and the consequent age-structural
changes leading to the rising ratio of the working population (15-59) and the declining ratio of the
child population (0-14). On the other hand, during this phase the ratio of old age population (60
+) grows very moderately.
o According to 2011 Census, India’s population was enumerated 1.21 billion and the ratio of
working age population grew from 55 percent in 1991 to 60 percent in 2011 while child
population declined from 37 to 30 percent, and the old age population grew moderately from 6.8
percent to 8.6 percent during the same period
Vasudhaiva Kutumbakam: “global village”
 The Gandhian philosophy of non-violence finds its inspiration
from this concept of Vasudhaiva Kutumbakam.
 To quote Dr. N Radhakrishnan, former director of the
Gandhi Smriti and Darshan Samiti, “The Gandhian vision of
holistic development and respect for all forms of life;
nonviolent conflict resolution embedded in the acceptance of
nonviolence both as a creed and strategy; were an extension
of the ancient Indian concept of Vasudhaiva Kutumbakam.”
May be ‘Sab ka saath, Sab ka Vikas’.
This gigantic idea (Vasudhaiva Kutumbakam) is an
exclusively Indian contribution to world peace. The
underlying philosophy of this ancient nation evolved a world-
view based on the motto "Loka samasta sukhina bhavantu"
(Let the entire world be happy) thousands of years ago.
Surprisingly, the same philosophy has now been thought of
by the United Nations in order to avoid global strife and
fostering world peace.
It is not limited to the residents of India or the adherents of
any particular faith or creed. That is the reason why India
receives, accepts and respects people of all faiths and
races.
 Story-Rafale-36
 French plane-maker Dassault Aviation clarified on Thursday [Oct. 11,

2018] that an executive’s reported comment about an “imperative and

mandatory” joint venture with Reliance Defence was in reference to the
offset part of the government-to-government deal between France and
India for 36 Rafale aircraft.

 Congress president Rahul Gandhi reiterated his demand for a probe

into the deal.

 Explaining the logic of the joint venture to workers’ representatives in

2017, Dassault deputy chief executive officer Loik Segalen said this
was done to ensure the French company got the “Rafale India export”
business.
Hindustan Times pointed out in a report on Thursday it
wasn’t clear if Segalen’s reference was to the offsets — the
only way Dassault could benefit from these was if it
partnered with a local company to make parts it could then
source — or the original deal. Dassault clarified that his
reference was to the offsets, or components it would have
to buy from an Indian manufacturer.
Separately, Dassault Aviation CEO Eric Trappier told AFP
the joint venture with Reliance Group will meet about 10%
of the firm’s offset obligations required by the contract for 36
Rafale jets.
BANKS: Non-performing-assets or Not-paid-
accounts?
2017: Indian banks have reported willful defaults of over
Rs. 111,738 crore involving 9,339 borrowers who have the
capacity to pay up but refuse to repay loans.
State-owned banks have reported willful defaults of Rs
93,357 crore involving 7,564 borrowers as of Sept. 2017,
according to data available with the Credit Information
Bureau of India Ltd (CIBIL)_ a 340 % surge in less than
five years as total willful defaults were just Rs. 25,410 crore
in 2013.
The total loan write off by banks in the last ten years is now
over Rs. 360,000 crore. Banks had written off Rs. 228,253
crore in nine years — from fiscal 2007-08 to 2015-16. ICRA
said that write offs amounted to Rs. 132,659 crore in 2016-17
and the first six months of 2017-18.
Rating firm Crisil has said the stock of gross NPAs in the
banking system is expected to rise to Rs 9.5 lakh crore by
the end of this fiscal. NPAs started rising fast since fiscal
2015, and trebled from Rs. 3.2 lakh crore seen then, after the
RBI pushed banks to recognize NPAs on time rather than
kick the can down the road.
The RBI is yet to disclose the full list of defaulters. In 2017,
the RBI had told the Supreme Court that it was not in favour
of publishing the list of loan defaulters who owe more than
Rs. 500 crore to public sector banks.
The RBI has defined willful default as one where the unit or
borrower has defaulted in meeting payment or repayment
obligations to the lender despite the capacity to honour
these commitments.
It also includes those who have siphoned off or not utilised
funds for the specific purposes for which finance were
availed of.
The RBI has allowed credit information bureaus such as like
CIBIL to disclose the identity of willful defaulters and those
borrowers against whom banks have filed suits for recovery
of loans. Regular suit-filed NPA (non-performing assets)
accounts of banks involve loans of Rs 259,991 crore
involving 16,844 borrowers.
SBI leads with Rs. 74,649 crore of 3,684 borrowers. Other
nationalized banks have filed cases against 9,507
borrowers for recovery of Rs. 129,636 crore, according to
CIBIL data as of September 2017
In January, PNB uncovered the alleged
fraud in which several bank officials were
suspected of colluding with jeweller
Nirav Modi and his uncle Mehul Choksi to
issue fraudulent LoUs for their companies to raise loans
from overseas branches of mostly Indian banks.
The CBI, which has arrested 14 people in the case so far, on
for the first time said that bribes were paid to at least one
PNB official by Nirav Modi.
 Misogyny, women's experiences as workers
 In a situation of unemployment, are men annoyed when competing for the same
opportunity with women who are perhaps more competent? However women are multi-
tasking creatures, at work & home.
 In the story of Genesis, why woman is a later creation and made from the body material of
Adam, the first man? Did misogyny start with religion itself ?
 Has misogyny worked to limit, devalue, and marginalize the work of women?
 Have sense of inferiority to woman caused Ravana & Duryodana to bring on war and end?
[Of course, they were already wrong-doers in other aspects of morality.]
 Did Shurpanakhi & Draupadi write Ramayana and Mahabharata? Had men to fight
because of women? Insult to a wicked Shurpanakhi (who deserved to be killed) led to
revenge by brother Ravana and insult to Draupadi triggered the vow by gambler Pandavas
to destroy Kauravas. Well! Men have the weaknesses and have to face consequences
too.

 Without being a feminist, answer these Qs. Think. Now, there is a ‘Me-too’ party!
“Black Money is the aggregate of incomes which are
taxable but not reported to authorities.”
2015: ‘The Black Money (Undisclosed Foreign Income
and Assets) and Imposition of Tax Act, 2015’ has been
announced and criticized as harsh. It is commented that
officers would harass them.
 Black money is a serious problem, which needs strict
handling.
It needs to be brought into the economic mainstream.
Stringent penalties are applicable under money
laundering legislations globally.
 Goods and services tax (GST)
 It aims to change multiple taxes on goods and services

and bring them under one rate.

 Provision for removing imposition of entry tax/Octroi

across India would result in a smoother and quicker

movement of goods across the country and bring to an
end the serpentine truck queues at state borders.

 The system will change from the current production-

based taxation to being consumption-based.

Along with bringing about uniformity in taxes across states,
GST is expected to increase efficiency & compliance.
Estimates by various think tanks expect the country's GDP to
go up anywhere between 0.5 to 2 per cent with the ease of
doing business and efficiency that the new tax regime will
bring. Goods are expected to turn cheaper while services will
become more expensive with the new GST regime. For
manufactured consumer goods, the current tax regime means
the consumer pays approximately 25-26% more than the cost
of production due to excise duty and value added tax. With
the GST rate expected at 18%, most goods are expected to
become cheaper.