Sunday, November 10, 2013

Rupee depreciation against All Major Foreign Currencies

We are hearing one of the arguments regarding exchange rate, that The US economy is becoming strong, is the reason for depreciation of Indian Rupee against Dollar.


Whereas this is not a correct argument, as Indian Rupee is depreciating against all major Foreign Currencies. Below is the list of 16 Foreign Currencies, which is notified by Ministry of Finance for using it for Import Declaration at Customs.

Out of 19 Currencies 16 Currencies has depreciated on an average 18 - 19% in last 8 months, from January, 2013. Few currencies have depreciated even up to 22%.

The currencies which have depreciated approx 5% are Australian Dollar, Danish Kroner & Japanese Yen.

Sunday, August 4, 2013

Right to Vote @ 16

Twenty five years before, in year 1988, Article 326 of Constitution was amended. The 61st amendment Act empowered youth with right to vote. The age of 21 years was lowered by the then government to 18 years.
The decision was welcomed by all as this was a step towards empowering youth and giving them opportunity to express their views in Nation building.
Nothing is static after 25 years, we have to think about the present youth-The scenario & its impact on them.
In year 1988, the youth after passing XII standard was entering in University for Graduation program, he was open to the new world and after completing the graduation was thinking about  job and future prospects.
Whereas after 25 years, today, the student after passing X standard, are serious about their career. They take decision about their studies and future growth. The preparation of either to be an engineer or doctor starts at this age.
The Information technology has empowered them with information, they are not only aware of their society, country but also of the world. They have their views on each topic and while shaping their career they start understanding the system, the governance, but they can’t be part of system as they don’t have the voting right.
The concern is well understood & even noticed by Election Commission of India.
On January, 12, 2011 ( Indian Express ) – ( Quote )
“The Election Commission said it was examining a proposal to reduce the minimum age for voting right to 16 years from the existing 18.
"We may recommend to the government to reduce the minimum voting age to 16 years, if more youths, particularly new voters, participate in the electoral process," Chief Election Commissioner Y S Quraishi told a meeting organised by Youth United for Voter Awareness (YUVA), an NGO.
Though above 35 per cent of voters were youths, their participation was the lowest, he said.
Quraishi said though the minimum voting right age was reduced to 18 from 21 years, participation of new voters was not up to expectation.
As the present day youths were well versed with technologies and comparatively better informed, there was no harm in reducing the minimum voting right age to 16 years, he said.”
One of the concern raised by the then Election Commissioner, that even after reducing age from 21 years to 18 years, participation of new voters was not up to expectation.  
I personally believe that the age of adult suffrage, should be reduced from 18 years to 16 years because of the following reasons:
Reasons  :
1)    Adult Suffrage should be introduced at the age of 16 years :  

At present the right to vote is granted at perhaps the worst possible moment in our life. If we see at the age of 18, most of us have passed our 12th exam and it’s the time to leave our home town for higher better education. We leave our Community we have lived in for most our life. The time when we are supposed to vote we either have a new community that we are unfamiliar with or we must attempt to vote absentee back home, a process that turns off many of us as a new voter.


By lowering the voting right at age of 16 will give the youth to vote who have roots in a community, have a concern for local issues, and will be more enthusiasm about voting than those just two years older. Youth at this stage of life start understand about society and they feel comfortable in their surroundings, school, parents, and with stable friends, they feel connected to their community; all factors that will increase their desire and need to vote.
2)    Voter turnout will increase because of lowering the Voting Age:

We all understand that the earlier in life a habit is formed the more likely that habit or interest will continue throughout life. Government and Parents make attempt to prevent youth from picking up bad habits, then why not we can encourage youth for being accountable to country by introducing a good habit at young age. If these young people start voting at the right age, most likely they will stick to this habit.
 
3)    If an illiterate adult can vote, then why not let smart youth vote?

In our system the Adult suffrage is just related to age limit. Most of us argue that the youth should not vote because they lack information and intelligent decision. In the era of Information technology, youth are the most informative citizen. This argument of lacking information doesn’t apply to all citizens who are age 18 years. We have seen many illiterate voting, who don’t even know the name of the candidate for whom they are voting.
We also don’t deny voting right to those who have break the law and have been punished by the court, nor do we deprive any of the people who are alcoholics, neurotics, psychotics.
We have seen many youth showing disinterest towards politics and many are filled with inferiority complex for being citizen of this country. They feel helpless towards the present situation of our country. Empowering them with right to vote will have a direct effect on their character, intelligence and sense of responsibility. 16 is the age when they start looking at the society in which they have to step in, they want a better society for which they can feel proud off. After 18 years of their life they are already in the society with their own difficulties and problems which make them feel turned off by politics and don't vote? 
5) When government is thinking of reducing Juvenile definition for punishment from 18 to 16, then why not voting right ?
Feb, 4, 2013, Time of India
The Supreme Court decided on Monday to examine the constitutional validity of the provision giving the definition of juvenile in the Juvenile Justice Act which treats a person as a minor till he attains the age of 18 years.
The apex court has issued notice to the Centre on a PIL seeking lowering of age of juvenile to 16 years from the present 18 years.
6) Voting ages around the world of few countries less than 18 years :
National minimum age of 17 include East Timor, Indonesia, North Korea, Sudan and Sudan.
The minimum age is 16 in Argentina, Austria, Brazil, Cuba, Ecuador, Nicaragua and the Isle of Man, Jersey and Guernsey (three self-governing British Crown Dependencies).
People aged 16–18 can vote in Bosnia, Serbia and Montenegro if employed.

Some countries have variable provision for the minimum voting age, whereby a lower age is set for eligibility to vote in state, regional or municipal elections.

Saturday, June 22, 2013

The Indian Dollar Story


We all are talking about depreciation of Rupee, stating that it’s falling like the character of the present Cabinet. We all know many Cabinet ministers in the present government have resigned or sacked because of depreciation in their honesty. I checked the contribution of our great economist PM in falling of Rupee and found that Mr. Economist have a good record in past too. Let me assure the  Rupee will come back at 54 per dollar before a month of election, as you have seen RBI not getting in action to control, the reason is black money will come for election purpose, will increase demand of Rupee in comparison to Dollar.

Year
Rs / Dollar
Government
Details
1990
17.50

1991
22.72
Manmohan Singh as Finance Minister in Congress Government
Even after so called liberalization and boasting of Manmohan Singh economic policy, the depreciation was 56.33% (22.72 - 35.52 = 12.80 ) or in other words depreciation of  Rs. 2.56 per year
1992
28.14
1993
31.36
1994
31.39
1995
32.53
1996
35.52
1997
36.36

1998
41.33
BJP Government in Centre
The USD/ INR was 41.33, even after Nuclear Test and US Economic Sanction the depreciation was only 9.55% in 6 years ( From 41.33 - 45.28 = 3.95 ) Or in other words depreciation of 0.65 paisa per year
1999
43.12
2000
45.00
2001
47.13
2002
48.62
2003
46.50
2004
45.28
2005
44.01
Manmohan Singh as Prime Minister in Congress Government
The USD/ INR was 45.28, and Congress Economist PM by his policy has made it 59.68 ( 20th June, 2013 ) a depreciation of 31.80 % ( 45.28 - 59.68 = 14.40 )  in 9 years Or in other words depreciation of  Rs.1.60 per year. The Congress government has still One year in their hand, only God knows or the present Economist PM how much they will depreciate the INR. As per past experience ( 1991 - 1996 ) Rs. should be 96.29 per USD, then only PM will touch his performance, which he did as Finance Minister
2006
45.17
2007
41.30
2008
43.41
2009
48.32
2010
45.75
2011
46.61
2012
53.34
2013
59.68

Average annual currency exchange rate for the Indian Rupee (Rupees per U.S. Dollar) is shown in the table above

Thursday, April 25, 2013

Relevance of Social Media in Indian Democracy

Indians have been more social in comparison to other societies of the world. They like to be in touch with their relatives & friends. The Marriage ceremony or any small function attracts a huge gathering. The person who is more social is treated with respect in Indian society.
Indians are so social that in small town / village a person can be recognized by his name or his father / grandfather’s name.

Since 1990, the trend started when lots of youth started migrating to Metros for Job or better opportunity and thus in new city they lost their identity and even their social life. This created an individual, who was neither in touch nor concerned about the problems of his home town. Being away from home town, this generation became inactive in socio – political issues. This new class which emerged had a hidden desire of being social but lacked time & avenues.

Social networking sites gave a platform to these youngsters, where they were able to find their old friends and relatives spread over the globe. This was one of the reasons for drastic growth in number of users in India. Orkut as a social networking site gather momentum, and finally took over by Facebook & Twitter. At present according to Internet & Mobile Association of India, there are 6.80 Crore, Facebook users & 1.8 Crore Twitter account in India. This figure in future will go up as there are 13.70 Crore Internet users in India, which is approx 11% of India total populations.

The first phase of Social networking sites was over and the user were settled, the group started discussing general issues, about the society and our country. The New Channel were pouring news 24X7 in every house in 1990 decades, and thus making people more informative on every issue.  Those people, who were busy in earning through job or self employment, were settled in life and now they started raising their concern about the situation of the country. These people who were working in Private organization were getting better salary, thus making their life easier. They started comparing the service level of private sector with government organization which leads to dissatisfaction towards government.

Being in Metro and working in private organization they started feeling helpless on the situation of country and ineffective governance. The social networking sites become the platform where they started discussing the issue and raise their concerns. This gave the opportunity to outlet their frustration and somewhere mental satisfaction. 

The internet boom also gave direct access to information to the people, who were earlier only relying on News Paper and then to the news channels. This another direct source of Information led to a more conscious citizen, who started evaluating the News shown on News Channels or News paper  and wherever they felt wrong, the group started targeting News Channel too. This lead to birth of a group called “Social Media” and it’s started acting like a watch dog for Media. The journalist who always challenged, system and leaders were now been questioned by this Social Media group, which was uncomfortable to the journalist, many negative reaction by senior journalist can be seen.  The rise of Fifth Pillar of democracy was obvious not welcome by other Four Pillars, but can’t be ignored too.

 Being a democratic country, the Freedom of Speech which was only on streets, can be avoided by Section 144, enters into the gallery of Parliaments. Unwittingly it rang the bells of the highest temple of democracy, and the power was alert, tried to tame down the flow through Section 66A.

The “Social Media” now become tool, a tool to challenge, a tool to propagate. It becomes a platform where a thought of people can come together and implement their thought or protest on issue. The case can be seen in ANNA Andolan & then after Protest against Rape incident of NIRBHAYA. The group was same, who felt that they can contribute to a change, by devoting their weekends. They got a place to protest and a group to strength. There was no binding within the group, except a common cause. Social Media act as a glue to these people who are concern about the society & the country and participation in the democracy, which was only ONCE in five years, changed its cycle.  The participation by common people in democracy is no more time bound but now issue based. An issue which even ignored by Media can become an issue of “WE THE PEOPLE” thus completing the Cycle of democracy.

An infant is born, but it will take time to grow up, it still have to walk on its leg, which will help him to reach to the polling booth. The views, the protest, the courage has to be converted into votes else it will be another “Virtual Tiger”.  The recent example of Parvez Musharraf who was having approx 9 Lakhs Likes on his Facebook page & 22 Thousand followers on twitter, which compelled him to return to Pakistan didn’t turn up on ground. They didn’t come out from the virtual world and reality changed. Mr. Musharraf is house arrest, and not a single protest.
 Considering the population of India, the social media has a long way to go, remember Mahatma Gandhi ji statement "The true India is to be found not in its few cities, but in its seven hundred thousand villages”