Dr. Amrit Baruah, a former Associate Professor at Yell university and Chairman of the department of public Administration etc of Maryland State University and one of the best -known social scientist based in Baltimore, U.S.A. once told it was good to provide a fish meal to a hungry person but it is far too important to teach the hungry persons as to how fish could be caught for their livelihood. The first action was a compassionate deed but the second action was an act of empowerment. The second action was far too superior to the initial action. Mr. Pradip Sharma really took up the second action and empowered a whole lot of persons who were deprived lot.
I am very happy to learn that Sharma started his enterprise singly first and involved lot of persons later. Today not only local Gramin( Rural) Banks are involved in his projects but also nationalized banks , well-known educational institutions of the world, including MIT are involved to crate a climate of self help.
Mr. Sharma’s Project model is simple yet has far reaching consequences. He does not spoon feed but empowers a group to be responsible to pay back the debt incurred by the individual members of the group. It brings about a sense of social responsibility. His project is in low tech areas, but have high social values and relevance. Sharma should be congratulated for his venture. We are proud of his effort that has been able to motivate western intellectual to stand beside him to help crate economic rejuvenation of a group of citizen from below poverty level. It is an act of emancipation. His project did elevate a section of people who were struggling to meet both the ends of their life to be a socially responsible entrepreneur. It is this effort of his which is most meaningful to the society.
Sharma has brought in a new sense of responsibility to the society. This act of his has motivated, I understand, a section of people to reach out to empower poorer section of society. I came to know of this project from the writing and a promo film by Mr. and Mrs Ankur Borah. I did suggest that to earn extra few rupees by promoting organization a tie up could be thought of with some of the cold drink companies for advertisement space on the back of the rickshaw.Even Rickshaws can be designed to install a small battery cum solar paneled cooling machine to store cold drinks through promotional efforts from Pepsi or Coke.In hot summer days travelers may like to buy cold drinks while traveling, buy a book or take an on line accident and medical policy. Insurance companies could be made a partner in supporting the project in lieu of advertisement on the back of the rickshaw.
My congratulations to Mr.Pradip Sharma not only for doing a socially responsible work but for the encouragement he has provided to others of the international community to get involved with third world country’s community for economic empowerment.
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Showing posts with label EMPOWERMENT. Show all posts
Showing posts with label EMPOWERMENT. Show all posts
Friday, September 16, 2011
Saturday, April 30, 2011
WARREN BUFFET:HIS LIFE,ACHIEVEMENTS AND PHILOSOPHY
Warren Buffet’s visit to India generated spectacular enthusiasm and created sensation. Not only Indian investors but also Indian industrialists, Media, investors, teachers and students have made a beeline to listen to his advice. But Buffet himself has said that he has not come here to teach Indian. They are not required to be taught. Indian is one of the most intelligent groups of the world. Ajit Jain, his prodigy, is one of the most valuable gift of India to him, accompanied him and also participated in discussion with students.. Today’s Indian know exactly how to confront problems and dig out prospect much better than most Nations of the world, he added.
Buffet was born in 1930 in Omaha, Nebraska, the son of a stockbroker and Congressman. Nobody, including himself, thought in his early years that he would be the world’s most successful investor in future.. As a boy, irrespective of his family background, he delivered newspapers to make extra money and this probably sparked his interest in the media where he has made several successful investments including the Washington Post Company, a stock that has made him a lot of money and which he vows never to sell. Buffet is loved and respected not only because he is one of the richest persons of the world but for his humanitarian attitude towards life. His humility, sincerity of purpose and compassion has won respect throughout the world. Speaking to Business school students of India Buffet mentioned that to be a successful investor terrific IQ is not necessary. The most important requirement for an investor is sensible temperament and robust common sense. A successful investor must learn to value business. His preference for value stock is wellknown.
From his young age Buffet was a determined person. Imbued with a determination to make good and an entrepreneurial nature, Warren dabbled in several part time businesses but his destiny was chartered early in the piece when, after graduating from the University of Nebraska, he studied business at the Columbia Graduate Business School .His Guru was Benjamin, Graham who shaped up his foresight. About India, where his presence is comparatively minuscule and includes recent tie-up with Bajaj Allianz for distribution of motor insurance products, Buffet said that he was looking at investments in large countries like India., Buffet said that he was looking at investments in large countries like India. Saying away from Indian enterprise so long was a mistake , Warren Buffet said. But he also conceded that none from India also contacted him so long.. Sooner or later the mistake would be surely rectified but no time frame has been fixed yet, he added.
Like many legend his first attempt to get a job ended in failure. He tried to get a position with Graham’s firm and was at first unsuccessful. Finally he got the job and learned a lot about stock investment from the Master. Graham eventually retired and Buffet started a limited partnership in Omaha, using capital contributed by family and friends. The partnership was a great success and Buffet is said to have averaged an annual rate of return for the partnership in excess of 23 per cent, far in excess of the market. Buffet was born and raised during the time of great depression. By the time he grew up, USA was returning back to normalcy and was getting ready to jump to prosperity. Buffet availed the opportunity with meticulous discipline. He never overspent. His philosophy of life was money earned by him was not meant for him alone. It is to be shared with the society. To him society did not mean America but the world of have-not this attitude of his endeared him with mass and class.
Buffett, after several years, decided to wind up the partnership, returning the lucky investors their capital and their share of the profits, and bought an interest in Berkshire Hathaway, a textile company, giving his original investors the chance to invest. The smart ones joine3d him. This attitude reflected Buffet’s sincerity towards his friends and colleagues. Contrary to popular belief his early days at Berkshire Hathaway were not great. The company was in an industry facing real challenges from exports and high manufacturing costs. Warren Buffett had not, however, forgotten what he had learned under Graham, and arranged for the company to buy out two Nebraska insurance companies that changed his business fortune. The business of insurance is a hard one but under Buffett, the company has become, not only a successful share investor, but a leading provider of insurance. Buffet always look for shares of solid companies with tremendous future prospect, having capable and honest management with a difference. His favourites enterprises are mostly large value based companies with service orientation and mass based. He preferred Insurance, Media, infrastructure, cold drinks and finance companies. Despite his great regards for the business acumen of Bill gates Buffett never owns any stock of Microshoft. However he donated most of his money for charity to be managed by Bill and Melinda gates.
Buffett ,, struck up a friendship with Charles T Munger, a lawyer and investor and Charlie Munger eventually joined Warren at Berkshire Hathaway as his Vice-Chairman, alter ego, and friend. Warren Buffett is always the first to acknowledge the contribution that Charlie Munger has made to Berkshire Hathaway. Under Buffett and Munger, Berkshire Hathaway has become an investment giant that wholly owns a number of successful companies that include, Geico corporation, Nebraska Furniture Mart and See’s Candy Shop. Warren Buffet is known for his lavish praise on his colleague. He recently told that Ajit Jain, his colleague at Berkshire, is the greatest gift of India to him. Ajit Jain has most intelligent Business Mind much better than his own, he declared in a meeting in India.
.
Warren Buffet has become a legend and is generally ranked, along with his mentor, Benjamin Graham, first in a stellar cast of investors that includes Peter Lynch, John Neff, and Philip Fisher. Buffet, however, was different from his master for his exceptional philosophy of life. He also earned money, created vast wealth but used very little out of that and felt happy. He did not keep his enormous wealth for himself or for his family . he distributed it to the people wo need it most. He excelled his Master for his philosophy towards life. He earned his billions and, in his life time, donated most of it for charity. He donated his wealth to a Charitable Trust to be managed by Melinda Gates and Bill Gates , another richest person of the world. Warren Buffet is not going to invest in India immediately. He has come here to study the environment and to request his fellow Indian rich persons to spare at least fifty percent of their personal wealth for the cause of poverty. Buffet advised not to buy share of any enterprise unless investors understand the dynamics of that business. During great Dot Com boom he kept himself away from tech companies . Many of his share holders expressed reservation for his aloofness from the tech world. But later on when the boom was burst they heave the sigh of relief understanding his vision well. Perhaps Buffet would start investment in India in future after he understand business philosophy of Indian businessmen and Government’s attitude towards business enterprise. The greatest thing is Buffet is bullish in US economy followed by India and China. He wanted investors to make money not only for their personal gain but for the gain of the world economy and to eradicated poverty. His investing advice to people is to select value stock and value mutual fund and keep it for decade to get benefit.
---------------------------------------------------------
Buffet was born in 1930 in Omaha, Nebraska, the son of a stockbroker and Congressman. Nobody, including himself, thought in his early years that he would be the world’s most successful investor in future.. As a boy, irrespective of his family background, he delivered newspapers to make extra money and this probably sparked his interest in the media where he has made several successful investments including the Washington Post Company, a stock that has made him a lot of money and which he vows never to sell. Buffet is loved and respected not only because he is one of the richest persons of the world but for his humanitarian attitude towards life. His humility, sincerity of purpose and compassion has won respect throughout the world. Speaking to Business school students of India Buffet mentioned that to be a successful investor terrific IQ is not necessary. The most important requirement for an investor is sensible temperament and robust common sense. A successful investor must learn to value business. His preference for value stock is wellknown.
From his young age Buffet was a determined person. Imbued with a determination to make good and an entrepreneurial nature, Warren dabbled in several part time businesses but his destiny was chartered early in the piece when, after graduating from the University of Nebraska, he studied business at the Columbia Graduate Business School .His Guru was Benjamin, Graham who shaped up his foresight. About India, where his presence is comparatively minuscule and includes recent tie-up with Bajaj Allianz for distribution of motor insurance products, Buffet said that he was looking at investments in large countries like India., Buffet said that he was looking at investments in large countries like India. Saying away from Indian enterprise so long was a mistake , Warren Buffet said. But he also conceded that none from India also contacted him so long.. Sooner or later the mistake would be surely rectified but no time frame has been fixed yet, he added.
Like many legend his first attempt to get a job ended in failure. He tried to get a position with Graham’s firm and was at first unsuccessful. Finally he got the job and learned a lot about stock investment from the Master. Graham eventually retired and Buffet started a limited partnership in Omaha, using capital contributed by family and friends. The partnership was a great success and Buffet is said to have averaged an annual rate of return for the partnership in excess of 23 per cent, far in excess of the market. Buffet was born and raised during the time of great depression. By the time he grew up, USA was returning back to normalcy and was getting ready to jump to prosperity. Buffet availed the opportunity with meticulous discipline. He never overspent. His philosophy of life was money earned by him was not meant for him alone. It is to be shared with the society. To him society did not mean America but the world of have-not this attitude of his endeared him with mass and class.
Buffett, after several years, decided to wind up the partnership, returning the lucky investors their capital and their share of the profits, and bought an interest in Berkshire Hathaway, a textile company, giving his original investors the chance to invest. The smart ones joine3d him. This attitude reflected Buffet’s sincerity towards his friends and colleagues. Contrary to popular belief his early days at Berkshire Hathaway were not great. The company was in an industry facing real challenges from exports and high manufacturing costs. Warren Buffett had not, however, forgotten what he had learned under Graham, and arranged for the company to buy out two Nebraska insurance companies that changed his business fortune. The business of insurance is a hard one but under Buffett, the company has become, not only a successful share investor, but a leading provider of insurance. Buffet always look for shares of solid companies with tremendous future prospect, having capable and honest management with a difference. His favourites enterprises are mostly large value based companies with service orientation and mass based. He preferred Insurance, Media, infrastructure, cold drinks and finance companies. Despite his great regards for the business acumen of Bill gates Buffett never owns any stock of Microshoft. However he donated most of his money for charity to be managed by Bill and Melinda gates.
Buffett ,, struck up a friendship with Charles T Munger, a lawyer and investor and Charlie Munger eventually joined Warren at Berkshire Hathaway as his Vice-Chairman, alter ego, and friend. Warren Buffett is always the first to acknowledge the contribution that Charlie Munger has made to Berkshire Hathaway. Under Buffett and Munger, Berkshire Hathaway has become an investment giant that wholly owns a number of successful companies that include, Geico corporation, Nebraska Furniture Mart and See’s Candy Shop. Warren Buffet is known for his lavish praise on his colleague. He recently told that Ajit Jain, his colleague at Berkshire, is the greatest gift of India to him. Ajit Jain has most intelligent Business Mind much better than his own, he declared in a meeting in India.
.
Warren Buffet has become a legend and is generally ranked, along with his mentor, Benjamin Graham, first in a stellar cast of investors that includes Peter Lynch, John Neff, and Philip Fisher. Buffet, however, was different from his master for his exceptional philosophy of life. He also earned money, created vast wealth but used very little out of that and felt happy. He did not keep his enormous wealth for himself or for his family . he distributed it to the people wo need it most. He excelled his Master for his philosophy towards life. He earned his billions and, in his life time, donated most of it for charity. He donated his wealth to a Charitable Trust to be managed by Melinda Gates and Bill Gates , another richest person of the world. Warren Buffet is not going to invest in India immediately. He has come here to study the environment and to request his fellow Indian rich persons to spare at least fifty percent of their personal wealth for the cause of poverty. Buffet advised not to buy share of any enterprise unless investors understand the dynamics of that business. During great Dot Com boom he kept himself away from tech companies . Many of his share holders expressed reservation for his aloofness from the tech world. But later on when the boom was burst they heave the sigh of relief understanding his vision well. Perhaps Buffet would start investment in India in future after he understand business philosophy of Indian businessmen and Government’s attitude towards business enterprise. The greatest thing is Buffet is bullish in US economy followed by India and China. He wanted investors to make money not only for their personal gain but for the gain of the world economy and to eradicated poverty. His investing advice to people is to select value stock and value mutual fund and keep it for decade to get benefit.
---------------------------------------------------------
Saturday, June 5, 2010
REDRESS YOUR GRIEVANCES AGAINST BANK AND INSURANCE SERVICES THROUGH OMBUDSMEN AND CONSUMER COURTS
Many people have their grievances against bank and insurance companies. On many occasions insurance companies take time to settle the genuine claims of their clients. Similarly many account holders of bank remain dissatisfied with the imposition of rules arbitrarily. Some bank some time fails to satisfy their account holder even in genuine cases. Most of the account holders feel helpless most of the time. They feel aggrieved but do not get Justice from their own bankers. But there are ways and means to get justice from the insurance companies and banks. Reserve Bank of India have placed a system of Banking Ombudsman and IR-DA has placed insurance Ombudsman for redresses of grievances of account holders and policy holders. in all genuine cases they can get justice through these forum. Beside the system of Ombudsman people can approach also consumer court from time to time. Here are few example how clients of the bank approached Banking ombudsman and got satisfactory redresses.
Jatin chowdhury, a wellknown architect of Guwahati, misplaced his cheque book . After a through search when he did not find the cheque book he informed his banker of the incident. The Bank, an intrnational giant, took note of his request but informed that the last cheque drawn by him was honoured a few days before his request was received and amount drawn was Rs 50,000 only. Mr.Chowdhury was surprised to note that an amount of Rs fifty thousand was withdrawn from his account without his knowledge. Mr. chowdhury denied writing a cheque of the amount mentioned by the banker. He visited the bank and found confronted the manger of releasing money without his issuing any cheque. The banker brought out the instrument an it was found that the cheque in question was from his cheque book and signature looked almost similar. the banker insisted tat it is his signature whereas chowdhury felt it was not his signature. Banker remained adamant and did not reverse the entry. Chowdhury was at a loss what needs to be done in the instant case. He was under stress. His relation with th bank was long standing yet the banker refused to oblige him.Banker told him to keep the cheque book insafe custody was his responsibility and the signature on the cheque book was that of his as per bank's record.
On the advice of a friend chowdhury visited the office of the Banking Ombudsman and narrated the story.The secretary of the office directed him to to write a letter once more to the bank since he was, so far, having discussions on the subject verbally. In case the bank did not reply him within a month or if he was not satisfied with the reply received he can approach the Banking ombudsman to redress his grievances. As expected the bank replied to him informing that the cheque issued by chowdhury was from his cheque book and that the signature on the cheque is that of his and that of none other.
The case came up for hearing and ultimately the matter had to be referred to the handwriting expert to determine whether the signature is actually that of the account holder or of someone else. After long proceeding it became apparent that the signature was
copied by someone else and withdrawn the money. The bank failed to verify genuineness of the signature as the cheque was present in rush hours. The verdict went in favour of chowdhury and ultimately the bank had to reverse the debit entry by crediting his account.
The case was an eye opener for chowdhury and to his family. It revealed that though the bankers has enormous power under the statue now a days it cannot take unilateral decision in respect of client. Many banks charges high interest to client if they fail to repay loan amount for sometime. The bank has all power to realize the loan and interest. But in case they charge enormous from the client amount the decision could be disputed. on many occasion the bank can make one time settlement in case client is genuine and trustworthy.
There are two ways to tackle a banking dispute. The first one is that an aggrieved person can approach Consumer court for getting justice and the second one is to approach the banking ombudsman which is much faster. Generally no advocate are allowed to repsnt the client similarly bank also need to handle the case departmentally without the assistance of an outsider or consultant. There are limitation of the amount so far as Banking ombudsman is concerned.This amount may change from time to time. Hence it would be prudent to find out the limit before banking Ombudsman is fomrmally approached. It is not necessary that all the cases get rsolved as soon as Banking ombdusman is approached. But most cases get resolved if grievances are genuine. Ity is prudent to approach Banking Ombudsman for any dispute related to the Bank. The banking ombudsman tries to resolve the issue at first through the process of conceleation. In case this approach did not yield any result betwen the waring partis than he can adjudicate the case and can deliver a verdict, after giving opportunities to present their respective views. The verdict delivered by the Banking ombudsman is binding. But this can be appealed. In most cases views of the ombudsman are accepted by the parties and in rare case only it goes to the higher court.Since the banking omkbdusman is an in- expensive and quick in redness always the matter could be taken up by individual client through this process.
Beside banks even matter related to insurance could be also taken up with the Insurance Ombdusman. there are instances that some of the insurance company refuses to pay the health related insurance claim under the clause of pre- existing sickness without proper verification. These verdict must be challenged by the client. recently a case came to light that a senior citizen took up a travel insuranc policy , after due verfication by the insurance company, before he left abroad from a Nationalized Insurance company. unfortunately the clent had a massive heart attack while travelling abroad. He was hospitalisd and saved. When he prefered the claim it was not paid on the ground of pre existing sickness, which was incorrect. The client wrote to the insurance company number of time that he had no pre- existnig sickness and he had gone through all the procedural examination before taking the policy as per the rule of the company. But insuranjce company did not reply to him for seven month. the claim was that of Rs Twenty lakh. Ultimately h refered the matter to the Insurance Ombudsman with a copy to the Managing Director of the Nationalized Insurance company. Within a month the matter was settled even before Ombudsman could intervene on the matter.
So it is appropriate to take advantage of the system of redress whenever you feel that bank and insurance companies are not genuinely helping you. There are very good banking norms and most of the bank try to help the customers always. But in some cases it fails to see reasons it would be better to approach consumer forum or respective ombudsman.
------------------------------------
Jatin chowdhury, a wellknown architect of Guwahati, misplaced his cheque book . After a through search when he did not find the cheque book he informed his banker of the incident. The Bank, an intrnational giant, took note of his request but informed that the last cheque drawn by him was honoured a few days before his request was received and amount drawn was Rs 50,000 only. Mr.Chowdhury was surprised to note that an amount of Rs fifty thousand was withdrawn from his account without his knowledge. Mr. chowdhury denied writing a cheque of the amount mentioned by the banker. He visited the bank and found confronted the manger of releasing money without his issuing any cheque. The banker brought out the instrument an it was found that the cheque in question was from his cheque book and signature looked almost similar. the banker insisted tat it is his signature whereas chowdhury felt it was not his signature. Banker remained adamant and did not reverse the entry. Chowdhury was at a loss what needs to be done in the instant case. He was under stress. His relation with th bank was long standing yet the banker refused to oblige him.Banker told him to keep the cheque book insafe custody was his responsibility and the signature on the cheque book was that of his as per bank's record.
On the advice of a friend chowdhury visited the office of the Banking Ombudsman and narrated the story.The secretary of the office directed him to to write a letter once more to the bank since he was, so far, having discussions on the subject verbally. In case the bank did not reply him within a month or if he was not satisfied with the reply received he can approach the Banking ombudsman to redress his grievances. As expected the bank replied to him informing that the cheque issued by chowdhury was from his cheque book and that the signature on the cheque is that of his and that of none other.
The case came up for hearing and ultimately the matter had to be referred to the handwriting expert to determine whether the signature is actually that of the account holder or of someone else. After long proceeding it became apparent that the signature was
copied by someone else and withdrawn the money. The bank failed to verify genuineness of the signature as the cheque was present in rush hours. The verdict went in favour of chowdhury and ultimately the bank had to reverse the debit entry by crediting his account.
The case was an eye opener for chowdhury and to his family. It revealed that though the bankers has enormous power under the statue now a days it cannot take unilateral decision in respect of client. Many banks charges high interest to client if they fail to repay loan amount for sometime. The bank has all power to realize the loan and interest. But in case they charge enormous from the client amount the decision could be disputed. on many occasion the bank can make one time settlement in case client is genuine and trustworthy.
There are two ways to tackle a banking dispute. The first one is that an aggrieved person can approach Consumer court for getting justice and the second one is to approach the banking ombudsman which is much faster. Generally no advocate are allowed to repsnt the client similarly bank also need to handle the case departmentally without the assistance of an outsider or consultant. There are limitation of the amount so far as Banking ombudsman is concerned.This amount may change from time to time. Hence it would be prudent to find out the limit before banking Ombudsman is fomrmally approached. It is not necessary that all the cases get rsolved as soon as Banking ombdusman is approached. But most cases get resolved if grievances are genuine. Ity is prudent to approach Banking Ombudsman for any dispute related to the Bank. The banking ombudsman tries to resolve the issue at first through the process of conceleation. In case this approach did not yield any result betwen the waring partis than he can adjudicate the case and can deliver a verdict, after giving opportunities to present their respective views. The verdict delivered by the Banking ombudsman is binding. But this can be appealed. In most cases views of the ombudsman are accepted by the parties and in rare case only it goes to the higher court.Since the banking omkbdusman is an in- expensive and quick in redness always the matter could be taken up by individual client through this process.
Beside banks even matter related to insurance could be also taken up with the Insurance Ombdusman. there are instances that some of the insurance company refuses to pay the health related insurance claim under the clause of pre- existing sickness without proper verification. These verdict must be challenged by the client. recently a case came to light that a senior citizen took up a travel insuranc policy , after due verfication by the insurance company, before he left abroad from a Nationalized Insurance company. unfortunately the clent had a massive heart attack while travelling abroad. He was hospitalisd and saved. When he prefered the claim it was not paid on the ground of pre existing sickness, which was incorrect. The client wrote to the insurance company number of time that he had no pre- existnig sickness and he had gone through all the procedural examination before taking the policy as per the rule of the company. But insuranjce company did not reply to him for seven month. the claim was that of Rs Twenty lakh. Ultimately h refered the matter to the Insurance Ombudsman with a copy to the Managing Director of the Nationalized Insurance company. Within a month the matter was settled even before Ombudsman could intervene on the matter.
So it is appropriate to take advantage of the system of redress whenever you feel that bank and insurance companies are not genuinely helping you. There are very good banking norms and most of the bank try to help the customers always. But in some cases it fails to see reasons it would be better to approach consumer forum or respective ombudsman.
------------------------------------
Saturday, February 20, 2010
BANK FD WILL ATTRACT HEAVY TAX WITHOUT PAN CARD
WITHOUT PAN HIGHER TAXES WOULD BE CHARGED FROM BANK DEPOSITORS
G.P.BAROOWAH
The importance of PAN Card was never realised properly by common people ,till recently. Suddenly to the horror of income earners it was found that unless PAN CARD IS PROCURED IMMEDIATELY THEY WOULD BE SUSTAINING GREAT LOSS OF MONEY, if they have Fixed Deposit in Bank. This is because by a recent notification by the Central Board of Direct Taxes have announced that the the new rule would take effect of First April 2010. What is the new rule? "Pan must be quoted in all transaction between two entities that involve a tax deduction at source, failing which the tax deducting entity will impose a 20 percent levy". The most non tax payers in Assam donot have PAN Number,even if they have kept money in bank FD. This is the time they apply for PAN Card immediately to avoid penalty.
During the Third week of January,2010 when almost all the National news papers announced the imposition of the new rule people at first panicked and shouted for help. What is the solution, many of the wage earners asked. Fortunately, we in this column forewarned our readers about possibilities of such a steps by Government of India as back as in August 2009. Some of our readers took quick decision to organise the pan card for their safety. According to us it is even now not too late to organise the Pan Card. Every major cities of India have centres managed by UTI who,on application, issue pan card. . In case there is no UTI centre people should visit nearest income tax office and ask for the details of the centre in their own town and area. Income tax department would remain ready to extend helping hand.
In this new provision, mostly widow women, single women, single mother and senior citizens , who do not have organised support system, may suffer if pan details cannot be obtained immediately.It would be prudent for them to seek help of their Friends ,kith and kin and of well wishers. In case pan cannot be quoted while depositing fixed deposit amount and 15 H is not submitted tax will be charged at 20% rate as against 10%. It is needless to mention that PAN (permanent account number) is an identifrication number issue to all entities with taxable income. But many people never applied for PAN for they thought that their income was beyond taxable limit hence PAN Card is not necessary. Now even if some persons remain beyound taxable limit yet have bank fixed deposit they would need Pan card . In case they canot submit the pan number then tax amount would be deoubled,unless they submit their PAN number to the bank concerned from First April 2010.
Beside bank transaction of FD any other transaction which is a legal document betwen two parties such as rent deed or a gift deed, transaction is not salary, in most cases the 20 percent levy was higher than the existing TDS(tax deducted at source) rate. Entities could be individuals as well as firms. Though the rule has been notified now, but in the last budget itself it was explained about such imposition as follows: " The deductees (person from whom income tax is deducted) shall madatorily funish his PAN to the deductor, failing which the deductor shall deduct tax at source at higher rates".
This rule , we understand now, would be applicable to NRI's also,So those persons whose relatives are NRI and have FD or any other transaction in India should forwarn them so that they have their PAN card made soon. This action is imperative. And should be considered seriously. Many of the children of retired persons send remittances to their old
parents.they need to check up if such remittances are subject to TDS. Why such steps have been taken by the central government?
According to informed source as the government is facing huge budget deficit it is trying to pull out all the stops to increase revenue collection fast. For any finacial transaction involving TDS it would be the responsibilites of Deductees to keep deductor apprised of their pan details. Deductors may or may not ask for it from their clients.According to the new provisions , a certificate for deductions at lower rate or no deduction shall not be given by the assessing officer, if there is no PAN.Besides, declaraation by deducteee for non deduction of TDS on payment shall not be valid.
We would however like to advice senior citizens not to worry too much.There is enough time. You need to visit UTI office / Income tax office to organise PAN card ,if it is not taken already.Income earner need to get the PAN card and should intiimate their banksers before 31st March 2010.Perhaps every citizens by now know that in the recent budget a provision has been incorporated that any persons having invested money in fixed deposit would require to quote the pan number. This provision will be applicable to all persons irrespective of the fact that he or she is not even income tax payers. The banks ar being advised to deduct money if no pan numbers are quoted even by non income tax payers from April next. In case wrong mentionning of Pan card number also by depositors there would be 20% deduction of tax, as a penalty.
Till recently Pan card was a necessity for the income tax payers who submit income tax returns annually. now a days pan card is necessary for buying a car, or owning a cell phone number. Now pan card would be necssary for Fix Deposit in Bank even if he not a tax payer.
. Now Pan card is required for any kind of financial transaction.. I would there fore like to recommend all persons having fixed deposit in bank or in Government or non Government organisation to apply for PAN number for his own benefit. What is a PAN CARD ?
I will try to answer like a lay man. The PAN is the abbreviation of Permanent Account Number . Actually this is a unique number allotted to individual or a corporate entity by department of income tax, Government of India. It is more an identification number . The PAN card is a plastic coated/laminated card containing an alphanumeric number, mentioning name, father's name, date of birth, the signature, person's photo and, of course, the PAN number and logo of government. of India and dept. of IT. By default , a PAN number has five letters first, then four digits and then one letter again. The uses of Pan card was for mainly following reasons.:
1 Till now, it was mandatory to have a pan card for every Indian who's income exceeds tax free limit. ( this provision is being changed from next April)
2. It serves as an photo-identity card as an Indian citizen .
With the new change in law Pan number become necessary for everyone who has FD account in Bank including a widow who may earn an income of below Rs one lakh ninety thousand.. The threshold limit for payment of income tax for all categories of persons have recently been upwardly revised and most of the retired senior citizen and some of the ladies have become out of income tax net. From next April a widow earning below the threshold limit ,even if she has submitted the form 15 , income tax would be deducted by bank for her fixed saving in bank, in case Pan number is not submitted. In certain case if pan numbers are wrongly quoted, may be due to inadvertence, for them also tax will be deducted at the double the rate. This is where shoe would pinch for a widow or a lone lady or for a senior citizen. The persons having bank FD etc must be very vigilant if they want to avoid unnecessary deduction of tax and penalty from now onward.
This provision would be applicable to ordinary common salary earners also unless he submits pan card number. Many senior citizen never was to apply for pan card thinking that they were beyond the ambit of income tax hence no pan card was required. This was a valid argument till now. But from next April onward if pan card number is not submitted to the Bank or any other other authorities income tax would be deducted on payment of interest amount.
My humble suggestion is not to panic . There are ample time to apply for a pan card. In any case the provision would be applicable from next April only. We have some time to get organised for a pan number. Having a pan card is very useful and easy. It can be used as a photo identity card also beside using for all financial transaction. This number is actually isued by income tax department to track any financial transaction and also to ensure non evasion of tax by eligible citizen. The pan card is very useful for all the citizens, for our country donot have a Social security number like develop countries of the world.. The importance of PAN card would continue till unique Identification number is issued by the central Government to each citizen. The project has already been taken up recently. A few persons recently wrote to me asking as to how and where PAN card could be applied?
The Income tax Department has authorised UTI investors services Limited to manage and issue pan card for smooth issuance of the card.. It can be applied on line also through internet fascility for the application form. There is a specific application form and that should be filled up to enable UTI Invetors Services Limted to issue PAN number with photogtraph. A small fee is also charged for the fascility. The pan card can be issued to NRI also. Now all senior citizens,single women and children having FD at bank or in companies should rush to UTI Investors Centre and get the pan card if not recei ved already to avoid higher incidence of tax.
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G.P.BAROOWAH
The importance of PAN Card was never realised properly by common people ,till recently. Suddenly to the horror of income earners it was found that unless PAN CARD IS PROCURED IMMEDIATELY THEY WOULD BE SUSTAINING GREAT LOSS OF MONEY, if they have Fixed Deposit in Bank. This is because by a recent notification by the Central Board of Direct Taxes have announced that the the new rule would take effect of First April 2010. What is the new rule? "Pan must be quoted in all transaction between two entities that involve a tax deduction at source, failing which the tax deducting entity will impose a 20 percent levy". The most non tax payers in Assam donot have PAN Number,even if they have kept money in bank FD. This is the time they apply for PAN Card immediately to avoid penalty.
During the Third week of January,2010 when almost all the National news papers announced the imposition of the new rule people at first panicked and shouted for help. What is the solution, many of the wage earners asked. Fortunately, we in this column forewarned our readers about possibilities of such a steps by Government of India as back as in August 2009. Some of our readers took quick decision to organise the pan card for their safety. According to us it is even now not too late to organise the Pan Card. Every major cities of India have centres managed by UTI who,on application, issue pan card. . In case there is no UTI centre people should visit nearest income tax office and ask for the details of the centre in their own town and area. Income tax department would remain ready to extend helping hand.
In this new provision, mostly widow women, single women, single mother and senior citizens , who do not have organised support system, may suffer if pan details cannot be obtained immediately.It would be prudent for them to seek help of their Friends ,kith and kin and of well wishers. In case pan cannot be quoted while depositing fixed deposit amount and 15 H is not submitted tax will be charged at 20% rate as against 10%. It is needless to mention that PAN (permanent account number) is an identifrication number issue to all entities with taxable income. But many people never applied for PAN for they thought that their income was beyond taxable limit hence PAN Card is not necessary. Now even if some persons remain beyound taxable limit yet have bank fixed deposit they would need Pan card . In case they canot submit the pan number then tax amount would be deoubled,unless they submit their PAN number to the bank concerned from First April 2010.
Beside bank transaction of FD any other transaction which is a legal document betwen two parties such as rent deed or a gift deed, transaction is not salary, in most cases the 20 percent levy was higher than the existing TDS(tax deducted at source) rate. Entities could be individuals as well as firms. Though the rule has been notified now, but in the last budget itself it was explained about such imposition as follows: " The deductees (person from whom income tax is deducted) shall madatorily funish his PAN to the deductor, failing which the deductor shall deduct tax at source at higher rates".
This rule , we understand now, would be applicable to NRI's also,So those persons whose relatives are NRI and have FD or any other transaction in India should forwarn them so that they have their PAN card made soon. This action is imperative. And should be considered seriously. Many of the children of retired persons send remittances to their old
parents.they need to check up if such remittances are subject to TDS. Why such steps have been taken by the central government?
According to informed source as the government is facing huge budget deficit it is trying to pull out all the stops to increase revenue collection fast. For any finacial transaction involving TDS it would be the responsibilites of Deductees to keep deductor apprised of their pan details. Deductors may or may not ask for it from their clients.According to the new provisions , a certificate for deductions at lower rate or no deduction shall not be given by the assessing officer, if there is no PAN.Besides, declaraation by deducteee for non deduction of TDS on payment shall not be valid.
We would however like to advice senior citizens not to worry too much.There is enough time. You need to visit UTI office / Income tax office to organise PAN card ,if it is not taken already.Income earner need to get the PAN card and should intiimate their banksers before 31st March 2010.Perhaps every citizens by now know that in the recent budget a provision has been incorporated that any persons having invested money in fixed deposit would require to quote the pan number. This provision will be applicable to all persons irrespective of the fact that he or she is not even income tax payers. The banks ar being advised to deduct money if no pan numbers are quoted even by non income tax payers from April next. In case wrong mentionning of Pan card number also by depositors there would be 20% deduction of tax, as a penalty.
Till recently Pan card was a necessity for the income tax payers who submit income tax returns annually. now a days pan card is necessary for buying a car, or owning a cell phone number. Now pan card would be necssary for Fix Deposit in Bank even if he not a tax payer.
. Now Pan card is required for any kind of financial transaction.. I would there fore like to recommend all persons having fixed deposit in bank or in Government or non Government organisation to apply for PAN number for his own benefit. What is a PAN CARD ?
I will try to answer like a lay man. The PAN is the abbreviation of Permanent Account Number . Actually this is a unique number allotted to individual or a corporate entity by department of income tax, Government of India. It is more an identification number . The PAN card is a plastic coated/laminated card containing an alphanumeric number, mentioning name, father's name, date of birth, the signature, person's photo and, of course, the PAN number and logo of government. of India and dept. of IT. By default , a PAN number has five letters first, then four digits and then one letter again. The uses of Pan card was for mainly following reasons.:
1 Till now, it was mandatory to have a pan card for every Indian who's income exceeds tax free limit. ( this provision is being changed from next April)
2. It serves as an photo-identity card as an Indian citizen .
With the new change in law Pan number become necessary for everyone who has FD account in Bank including a widow who may earn an income of below Rs one lakh ninety thousand.. The threshold limit for payment of income tax for all categories of persons have recently been upwardly revised and most of the retired senior citizen and some of the ladies have become out of income tax net. From next April a widow earning below the threshold limit ,even if she has submitted the form 15 , income tax would be deducted by bank for her fixed saving in bank, in case Pan number is not submitted. In certain case if pan numbers are wrongly quoted, may be due to inadvertence, for them also tax will be deducted at the double the rate. This is where shoe would pinch for a widow or a lone lady or for a senior citizen. The persons having bank FD etc must be very vigilant if they want to avoid unnecessary deduction of tax and penalty from now onward.
This provision would be applicable to ordinary common salary earners also unless he submits pan card number. Many senior citizen never was to apply for pan card thinking that they were beyond the ambit of income tax hence no pan card was required. This was a valid argument till now. But from next April onward if pan card number is not submitted to the Bank or any other other authorities income tax would be deducted on payment of interest amount.
My humble suggestion is not to panic . There are ample time to apply for a pan card. In any case the provision would be applicable from next April only. We have some time to get organised for a pan number. Having a pan card is very useful and easy. It can be used as a photo identity card also beside using for all financial transaction. This number is actually isued by income tax department to track any financial transaction and also to ensure non evasion of tax by eligible citizen. The pan card is very useful for all the citizens, for our country donot have a Social security number like develop countries of the world.. The importance of PAN card would continue till unique Identification number is issued by the central Government to each citizen. The project has already been taken up recently. A few persons recently wrote to me asking as to how and where PAN card could be applied?
The Income tax Department has authorised UTI investors services Limited to manage and issue pan card for smooth issuance of the card.. It can be applied on line also through internet fascility for the application form. There is a specific application form and that should be filled up to enable UTI Invetors Services Limted to issue PAN number with photogtraph. A small fee is also charged for the fascility. The pan card can be issued to NRI also. Now all senior citizens,single women and children having FD at bank or in companies should rush to UTI Investors Centre and get the pan card if not recei ved already to avoid higher incidence of tax.
----------------------------------------------------
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RECEIPIENT OF GIFT SHALL HAVE TO PAY TAX
"Can I gift my House to my daughter" , asked one of the worried father. He learnt that the Gift tax rules have been changed and now Government intend to charge high tax on the the hand of the recipient of the gift."My daughter is not earning as much. where from would she pay tax on an immovable property" ? The latest gift tax amendment has crated tension in the mind of lot of senior citizens. I would like to assure that gift from blood relations are exempt from the tax even now .The Government of India amended the Gift tax only because the provision was misused by unscrupulous persons.
High Value Gifts were a safe haven to show one’s love to others financially. Now the tax man has tightened (putting it mildly) the strings attached to gifts. In fact the rule has become so tight that it may be the end for all high value gifts in India.
Since 1998, there is no Gift Tax per say in India. The gift is now added to the income of the receiver and is taxed accordingly. Earlier (prior to October 1st 2009), gifts in kind (a car or a house) were not considered at the cash value. Many rich and powerful people used to request ,some of their friends and associates, to give expensive gift during their daughter's marriage in lieu of high favours.At that time all gifts received at the time of marriage were exempt from tax. The gifts could have been from anyone and of any type. This made very high value gifts the norm at the marriages of very powerful and rich people. The taxman was hoodwinked by making marriages occasions for large scale conversion of illegal money (black money) into legal gifts. This system was going on in rampant ways.The government knew it but had no courage to stop it. ultimately ManMohanSingh Government mustered enough courage and made provision to stop it, with a new rule.
What is the new rule of the day? The change in the rule related to gifts now says that the receiver has to pay tax for receiving any gift valued at Rs.50,000 and more. The 'any gift' clause means that not only cash but all gifts of any value. So if someone receives a gift of a house worth Rs.30 lakhs, then he/she is automatically in the highest income bracket and has to pay 30% + surcharge on value of the house as tax (close to Rs.10 lakhs in this case). It ihas become vry diffcult for a young girls with limited mens to pay so high income tyax if she is not very rich officially.
The rule thus effectively prevents money laundering in the guise of high value gifts.
The question now comes whether gift given by relatives during marriages would also attract so much taxes? the genuine people donot have to worry at all.There is exemption for gifts received from certain people. The gifts that one receives from relatives on the occasion of marriage, the gifts receives from parents and grand parents, the gift received by a daughter-in-law from her parents-in-law, and gifts received by way of a will and inheritance are exempt.
But here is a catch. To stop the evil practice of dowary demand The gifts received by a son-in-law from his parent-in-law will be taxed. would it bring done dowry demand. Very unlikely, sid a social scientist.According to him the demand would stay not in white but in coloured. The father inlaws would remain as vulnerable as they were before. A good provision has been made. Children living abroad can freely send money to their old parents with out attracting any gift tax in the hands of their parents. Due to existance of this provision an NRI can gift to his/her parents in India from their NRE account without their parents suffering any tax.
An excellent provision have been made so that none can circumvent the rules. The gifts received in the names of one's minor children will be clubbed with the parents' income for taxation purpose. Also the taxman is very alert in saying that, in case of both parents having income, clubbing will be done with that parent who is earning more. So one cannot hide under the cover of their minor child(ren) receiving the gifts. For a long time non relatives were sending gift in the name of the minor children and most of the time it was clubbed with the income of mother so that minimal tax is paid.With the incorporation of the new provision the loophole have been plugged.
Not only gifts, but any real estate deal done for values lower than the state governments fixed rates, will also be taxed. Here the tax will be charged on the difference between the state government’s rate and purchase price. The tax needs to be paid by the buyer of the property.
According to a taxation expert the tightening of the rules related to gift tax will curb money laundering to a great extent. However it does protect genuine gifts from relatives and loved ones. Several guises used earlier to cover up transactions as gifts are now taxable.
----------------------------------------------------
Gautam Prasad Baroowah
WebSite: http://gpbaroowah.esmartweb.com/
My Blog: http://gpbaroowah.blogspot.com
--------------------------------------------------------------------------------
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High Value Gifts were a safe haven to show one’s love to others financially. Now the tax man has tightened (putting it mildly) the strings attached to gifts. In fact the rule has become so tight that it may be the end for all high value gifts in India.
Since 1998, there is no Gift Tax per say in India. The gift is now added to the income of the receiver and is taxed accordingly. Earlier (prior to October 1st 2009), gifts in kind (a car or a house) were not considered at the cash value. Many rich and powerful people used to request ,some of their friends and associates, to give expensive gift during their daughter's marriage in lieu of high favours.At that time all gifts received at the time of marriage were exempt from tax. The gifts could have been from anyone and of any type. This made very high value gifts the norm at the marriages of very powerful and rich people. The taxman was hoodwinked by making marriages occasions for large scale conversion of illegal money (black money) into legal gifts. This system was going on in rampant ways.The government knew it but had no courage to stop it. ultimately ManMohanSingh Government mustered enough courage and made provision to stop it, with a new rule.
What is the new rule of the day? The change in the rule related to gifts now says that the receiver has to pay tax for receiving any gift valued at Rs.50,000 and more. The 'any gift' clause means that not only cash but all gifts of any value. So if someone receives a gift of a house worth Rs.30 lakhs, then he/she is automatically in the highest income bracket and has to pay 30% + surcharge on value of the house as tax (close to Rs.10 lakhs in this case). It ihas become vry diffcult for a young girls with limited mens to pay so high income tyax if she is not very rich officially.
The rule thus effectively prevents money laundering in the guise of high value gifts.
The question now comes whether gift given by relatives during marriages would also attract so much taxes? the genuine people donot have to worry at all.There is exemption for gifts received from certain people. The gifts that one receives from relatives on the occasion of marriage, the gifts receives from parents and grand parents, the gift received by a daughter-in-law from her parents-in-law, and gifts received by way of a will and inheritance are exempt.
But here is a catch. To stop the evil practice of dowary demand The gifts received by a son-in-law from his parent-in-law will be taxed. would it bring done dowry demand. Very unlikely, sid a social scientist.According to him the demand would stay not in white but in coloured. The father inlaws would remain as vulnerable as they were before. A good provision has been made. Children living abroad can freely send money to their old parents with out attracting any gift tax in the hands of their parents. Due to existance of this provision an NRI can gift to his/her parents in India from their NRE account without their parents suffering any tax.
An excellent provision have been made so that none can circumvent the rules. The gifts received in the names of one's minor children will be clubbed with the parents' income for taxation purpose. Also the taxman is very alert in saying that, in case of both parents having income, clubbing will be done with that parent who is earning more. So one cannot hide under the cover of their minor child(ren) receiving the gifts. For a long time non relatives were sending gift in the name of the minor children and most of the time it was clubbed with the income of mother so that minimal tax is paid.With the incorporation of the new provision the loophole have been plugged.
Not only gifts, but any real estate deal done for values lower than the state governments fixed rates, will also be taxed. Here the tax will be charged on the difference between the state government’s rate and purchase price. The tax needs to be paid by the buyer of the property.
According to a taxation expert the tightening of the rules related to gift tax will curb money laundering to a great extent. However it does protect genuine gifts from relatives and loved ones. Several guises used earlier to cover up transactions as gifts are now taxable.
----------------------------------------------------
Gautam Prasad Baroowah
WebSite: http://gpbaroowah.esmartweb.com/
My Blog: http://gpbaroowah.blogspot.com
--------------------------------------------------------------------------------
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Sunday, January 17, 2010
SAVING HABITS OF WOMEN NEEDS EMPOWERMENT
During Twenty-first century more women are working than twentieth century. Now a days women are heading organization like Coco cola , HSBC banks HDFC banks and also insurance companies. Many women have become successful lawyers , Doctors , advocates and teachers. With women occupying such senior position it is natural for them to save more and more. But it has not happened. In a survey recently conducted it was revealed that women are mor4 of a spender than saver. Women spend more for the family than on her self.. But this habits needs to reversed. Because in a family children idolize the mother rather than the father.
They keep the father in high esteem no doubt but children are generally scared of father and friendly with mother. Sons are closer to mother and daughters are closer to father is a myth really. Why women spend more money than the saving. This emanates from the feeling that she is natural guardian of the family. Any shortfall in the budget and life style is picked up by working mother than the father. Even in the office, it is found that female employees don’t hesitate to buy Tiffin for colleagues compared to male officers.
Many studies have shown that women lag behind men in saving for retirement. In a 2008 survey of more than 1,300 workers or retirees over age 25 by nonpartisan Employee Benefit Research Institute (EBRI) and Matthew Greenwald & Associates, 68% of women and 76% of men said that they "had" saved for retirement; 59% of women and 70% of men said they were currently saving; and 58% of women and 64% of men said they were contributing to a workplace retirement account. Two recent studies of participants in large-company plans show similar results. This is not only the case in India. Even in America women save lower than men folks. The Vanguard, a mutual fund company that also manages retirement plans in USA, reported that in 2007 the average account balance of more than three million participants in their 401(k) plans was $56,723 for women, compared with $95,447 for men. More recently, Hewitt Associates consultants surveyed nearly 2 million participants in large-company 401(k) plans the company manages and found that women had an average of $56,320 in their accounts, compared with over $100,000 for men.
This is the time our society need to empower women so that they can save better for the rainy days. Working single women need to think specifically about saving habits. The saving in banks or in Government plans are safest option but it would not support them fully due to inflationary pressure. A women who could manage their monthly budget with Rs10,000 per month a decade back have found it most diffiult to carry on unless she can earn more than double the amount. This is the effect of inflation.
The potato which used to cost Rs 3 a kilogram then is now costing Rs 28 a kg. What is the way out? If she would have kept all the saving in Nationalized bank her money would have been safe alright but now she would have to depend on borrowed money or depend on the alms of others. Fortunately She kept a portion of her money in mutual fund that gave her a return of 25% of money saved. Every single women and single mother must keep it in mind that safe keeping of asset is not enough. The asset must be capable of providing inflation adjusted return for atleast twenty years. What should women do? They need to invest and save early and judiciously. Where women need to invest ? the investment in EPF is a must. Those who do not have EPF they should start saving PPF surely from the beginning of their career. PPF can be started with Rs 500 per annum. Investment in PPF would not be enough. To beat the inflation it would be mandatory for a person to invest first in Mutual fund. Investment in mutual fund is not as safe as the bank fixed deposit. But women must learn to take little risk in case they want to lead a satisfying life style through out their life. Which are the mutual fund they need to select and how long they need to keep investing?
It would be prudent to study investment journals. Many may not be able to do so.. In that even they need to approach a well-known bank. The banks have their own investment desk. SBI has their own persons. Similarly Standard Chartered has their own investment advisor. These advisors may be able to guide new investors. I would highly recommend that all investor should try to study the website of “Money control.com and value research .com. and invest in four star and five star mutual funds. Any women above fortyfive years of age should be able to reduce the risk buy avoiding full diversified equity funds. They need to subscribe atleast sixty percent of their saving in debt fund. Alternatively they can opt for balanced fund so that risk can be divided.
Single mother has greater responsibility towards their children. So it would be prudent to subscribe to insurance policies so that their children are not handicapped in case of emergent situation. The education and marriage are two important components of life. In order to sail smoothly single mother must plan for correct ULIP policies. India have started of late great ULIP policies though they are costly compared to investment plans of mutual fund. ULIp policy should be subscribe after learning the details of the plan .Each policy tries to be different. Being different is not the solution. It should be cost effective for women folks.
----------------------------------------------------
They keep the father in high esteem no doubt but children are generally scared of father and friendly with mother. Sons are closer to mother and daughters are closer to father is a myth really. Why women spend more money than the saving. This emanates from the feeling that she is natural guardian of the family. Any shortfall in the budget and life style is picked up by working mother than the father. Even in the office, it is found that female employees don’t hesitate to buy Tiffin for colleagues compared to male officers.
Many studies have shown that women lag behind men in saving for retirement. In a 2008 survey of more than 1,300 workers or retirees over age 25 by nonpartisan Employee Benefit Research Institute (EBRI) and Matthew Greenwald & Associates, 68% of women and 76% of men said that they "had" saved for retirement; 59% of women and 70% of men said they were currently saving; and 58% of women and 64% of men said they were contributing to a workplace retirement account. Two recent studies of participants in large-company plans show similar results. This is not only the case in India. Even in America women save lower than men folks. The Vanguard, a mutual fund company that also manages retirement plans in USA, reported that in 2007 the average account balance of more than three million participants in their 401(k) plans was $56,723 for women, compared with $95,447 for men. More recently, Hewitt Associates consultants surveyed nearly 2 million participants in large-company 401(k) plans the company manages and found that women had an average of $56,320 in their accounts, compared with over $100,000 for men.
This is the time our society need to empower women so that they can save better for the rainy days. Working single women need to think specifically about saving habits. The saving in banks or in Government plans are safest option but it would not support them fully due to inflationary pressure. A women who could manage their monthly budget with Rs10,000 per month a decade back have found it most diffiult to carry on unless she can earn more than double the amount. This is the effect of inflation.
The potato which used to cost Rs 3 a kilogram then is now costing Rs 28 a kg. What is the way out? If she would have kept all the saving in Nationalized bank her money would have been safe alright but now she would have to depend on borrowed money or depend on the alms of others. Fortunately She kept a portion of her money in mutual fund that gave her a return of 25% of money saved. Every single women and single mother must keep it in mind that safe keeping of asset is not enough. The asset must be capable of providing inflation adjusted return for atleast twenty years. What should women do? They need to invest and save early and judiciously. Where women need to invest ? the investment in EPF is a must. Those who do not have EPF they should start saving PPF surely from the beginning of their career. PPF can be started with Rs 500 per annum. Investment in PPF would not be enough. To beat the inflation it would be mandatory for a person to invest first in Mutual fund. Investment in mutual fund is not as safe as the bank fixed deposit. But women must learn to take little risk in case they want to lead a satisfying life style through out their life. Which are the mutual fund they need to select and how long they need to keep investing?
It would be prudent to study investment journals. Many may not be able to do so.. In that even they need to approach a well-known bank. The banks have their own investment desk. SBI has their own persons. Similarly Standard Chartered has their own investment advisor. These advisors may be able to guide new investors. I would highly recommend that all investor should try to study the website of “Money control.com and value research .com. and invest in four star and five star mutual funds. Any women above fortyfive years of age should be able to reduce the risk buy avoiding full diversified equity funds. They need to subscribe atleast sixty percent of their saving in debt fund. Alternatively they can opt for balanced fund so that risk can be divided.
Single mother has greater responsibility towards their children. So it would be prudent to subscribe to insurance policies so that their children are not handicapped in case of emergent situation. The education and marriage are two important components of life. In order to sail smoothly single mother must plan for correct ULIP policies. India have started of late great ULIP policies though they are costly compared to investment plans of mutual fund. ULIp policy should be subscribe after learning the details of the plan .Each policy tries to be different. Being different is not the solution. It should be cost effective for women folks.
----------------------------------------------------
Wednesday, December 16, 2009
A Messiah for distressed humanity :Dr. M.C. Bhuyan
During Mid Sixties of last century, Guwahati was not as proud of HEALTH CARE FASCILITIES as it is now. Cardio- logical treatments were almost in non existence. Dr. M. C. Bhuyan’s arrival in the city brought about a change in the healthcare scenarios of the city as far as cardiology was concerned. Heart patients of greater Guwahati areas heaved a sigh of relief. His presence was like a fresh air to the society. A most cultured human being his motto of life was “Be good and do well” to distressed humanity.
He joined Guwahati Medical College as an Assistant professor and later founded the department of Cardiology. The department grew under his caring eyes and lots of brilliant Cardiac Doctors were born in due course. Dr. Bhuyan was not only known as a great teacher and medical practitioner but he was known for his humanistic approach towards needy patience. He always looked younger to his age and had an electrifying personality. A person of few words yet he was approachable. His greatest quality was compassion.
I came into his contact in early sixties. We were his neighbour. At that time, while completing my Master in Economics I was awaiting for placement calls. Dr. Bhuyan was first to advise me to pursue further studies in management and to visit USA for higher education and training. It was also he who advised me to compete for Rotary International’s Scholarship for business managers. I still feel indebted to him for his sane advice during my early years of life. In effect, my entire career in private sector enterprise was built up on his empowerment and advice. Except at the fag end of my career, in RBI, I had not accepted any lucrative public sector governmental jobs despite several offers. This was possible for the empowerment of Dr. Bhuyan. He emphatically told us that twentieth century would be the time for private sector enterprises and to swim during this period in private business environment would be greatly rewarding. It was he who could be considered as our mentor in business management though he himself was an academician and a Doctor.
A few friends of mine, who are established lawyers, Doctors and painters today, were also beneficiary of his advice. They confided me that whatever their contribution to the society today were only due to the practical advice of Dr. Bhuyan, in their formative period.
“For a strong mental strength you need strong physical stamina. So in younger age, you need to build up physical strength first, to enable you to build up mental prowess which ultimately will trigger self confidence”. These were the remark of Dr. Bhuyan. He advised us to be frugal in our eating habits. As Soon as we touched forty years, he advised us to stop having omelets in the morning with four eggs.
”One egg a week would keep you healthy. Why waste food by eating more and become unhealthy as you grow up in age”. We remembered his advised till date.
During 1963 well known entrepreneurs PC Goenka and late B Himmatsingka had set up India Carbon in collaboration with Great Lakes Carbon Corporation of USA. They wanted to ensure an ideal health care system for the enterprise, despite existence of ESI, of its own. It was Dr. M.C. Bhuyan who gave them the model of an ideal Health care system. Slowly from a Medical Consultant Dr. Bhuyan became friend and philosopher to industry. Industrialists in and around Guwahati were benefited by his quality advices.
Dr. Bhuyan was a humanist. Once I urged him to provide medical advice to then well-known planter BhabendraNath Baruah of Golaghat WHO WAS GOING THROUGH a SERIOUS HEALTH PROBLEM. As the health condition of Mr. Baruah deteriorated it was impossible for him to travel to Guwahati from Golaghat . Observing the predicament of the family he decided to travel to Golaghat to examine the patient .That showed his rare quality of human concern. He was then the professor of Medical College at
Guuwhati and traveled to Golghat on a Sunday and came back the same evening. He only accepted hospitality and transportation. When fee was given, he refused to accept and told that he came to examine the patient and also to learn more of the sickness. This kind of behaviour is rarely found in professionals of today. There are however a few Doctors even now keeping the flag of self less service flying.
Dr. Bhuyan was a gentleman physician. He had no enemy. Everyone respected him and he also gave full honour to his patients. He endeared himself from his friends,students and patients for his immaculate behaviour. He maintained himself with grace and discipline. He always looked much younger to his age. When he died on 25th November he was 84 years old but really he looked 74 years or younger. Dr. Bhuyan’s departure would create a void not only among medical fraternity but also within the civil society of Assam. Today he is no more but his quality of dedicated service, loving care to his patience, humanistic approach have survived showing the path of compassion and value creating service. Almighty would give peace to his soul .we salute to his humanistic attitude towards life.
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He joined Guwahati Medical College as an Assistant professor and later founded the department of Cardiology. The department grew under his caring eyes and lots of brilliant Cardiac Doctors were born in due course. Dr. Bhuyan was not only known as a great teacher and medical practitioner but he was known for his humanistic approach towards needy patience. He always looked younger to his age and had an electrifying personality. A person of few words yet he was approachable. His greatest quality was compassion.
I came into his contact in early sixties. We were his neighbour. At that time, while completing my Master in Economics I was awaiting for placement calls. Dr. Bhuyan was first to advise me to pursue further studies in management and to visit USA for higher education and training. It was also he who advised me to compete for Rotary International’s Scholarship for business managers. I still feel indebted to him for his sane advice during my early years of life. In effect, my entire career in private sector enterprise was built up on his empowerment and advice. Except at the fag end of my career, in RBI, I had not accepted any lucrative public sector governmental jobs despite several offers. This was possible for the empowerment of Dr. Bhuyan. He emphatically told us that twentieth century would be the time for private sector enterprises and to swim during this period in private business environment would be greatly rewarding. It was he who could be considered as our mentor in business management though he himself was an academician and a Doctor.
A few friends of mine, who are established lawyers, Doctors and painters today, were also beneficiary of his advice. They confided me that whatever their contribution to the society today were only due to the practical advice of Dr. Bhuyan, in their formative period.
“For a strong mental strength you need strong physical stamina. So in younger age, you need to build up physical strength first, to enable you to build up mental prowess which ultimately will trigger self confidence”. These were the remark of Dr. Bhuyan. He advised us to be frugal in our eating habits. As Soon as we touched forty years, he advised us to stop having omelets in the morning with four eggs.
”One egg a week would keep you healthy. Why waste food by eating more and become unhealthy as you grow up in age”. We remembered his advised till date.
During 1963 well known entrepreneurs PC Goenka and late B Himmatsingka had set up India Carbon in collaboration with Great Lakes Carbon Corporation of USA. They wanted to ensure an ideal health care system for the enterprise, despite existence of ESI, of its own. It was Dr. M.C. Bhuyan who gave them the model of an ideal Health care system. Slowly from a Medical Consultant Dr. Bhuyan became friend and philosopher to industry. Industrialists in and around Guwahati were benefited by his quality advices.
Dr. Bhuyan was a humanist. Once I urged him to provide medical advice to then well-known planter BhabendraNath Baruah of Golaghat WHO WAS GOING THROUGH a SERIOUS HEALTH PROBLEM. As the health condition of Mr. Baruah deteriorated it was impossible for him to travel to Guwahati from Golaghat . Observing the predicament of the family he decided to travel to Golaghat to examine the patient .That showed his rare quality of human concern. He was then the professor of Medical College at
Guuwhati and traveled to Golghat on a Sunday and came back the same evening. He only accepted hospitality and transportation. When fee was given, he refused to accept and told that he came to examine the patient and also to learn more of the sickness. This kind of behaviour is rarely found in professionals of today. There are however a few Doctors even now keeping the flag of self less service flying.
Dr. Bhuyan was a gentleman physician. He had no enemy. Everyone respected him and he also gave full honour to his patients. He endeared himself from his friends,students and patients for his immaculate behaviour. He maintained himself with grace and discipline. He always looked much younger to his age. When he died on 25th November he was 84 years old but really he looked 74 years or younger. Dr. Bhuyan’s departure would create a void not only among medical fraternity but also within the civil society of Assam. Today he is no more but his quality of dedicated service, loving care to his patience, humanistic approach have survived showing the path of compassion and value creating service. Almighty would give peace to his soul .we salute to his humanistic attitude towards life.
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MIDDLE CLASS TURNS MILLIONAIRE
THE MILLIONAIRE: CHANGING FACE OF MIDDLE CLASS
G.P.BAROOWAH
During my four months stay in USA I have done some research to find out how most people have become millionaire here ? Is it through business and through investment only? Or through regular habits of saving and investment? To my utter surprise I had to conclude that most of the millionaire in USA have become millionaire now , not from high family business cconnectionnbsp; , inheritance through land lord community's assets and from shares of Industrial investment but from working as a serviceman and through regular saving and investment habit. Approximately 33% millionaire today came from middle class who never inherited fortune from their parents. Even Bill gates and Warren buffet's wealth were created during their life time and not from inheritance. This is a very good news for aspiring midle class of India.
It is a fact that the United States booms when it comes to creating millionaires.Amrica has highest number of millionaires in the world since last fewyears.The nation counted 8.9 million millionaire households in 2005 -- that's more American millionaires than ever before, according to British market researcher TNS Financial Services. It was the third consecutive year the number of U.S. millionaire households rose, and the total number of millionaires has jumped 62 percent since 2002. The study defined a millionaire as anyone who has a net worth of $1 million or more, excluding a primary residence. Even during the period of recession though number of millionaire has reduced by 10% yet America boast highest number oi millionaire.I was pleasently surprised to find that One third of these millionaire are self made scientist, professors, consultant, lawyers, Doctors and Business executives and cinema stars and players.
What are the most important qualities that made them millionaire? We asked a few working persons, who are millionaire at San Jose. They wanted to remain anonymous but confided to us that two most important characteristics could be (a) capacity to dream big and (b) to cultivate the habit of enormous patience. There are a few other qualities that are necessary for building up fortune. they added. Those are frugal habits, avoidance of impulsive decision making, development of courage, to become optimist and understanding the qualities of self discipline. In modern times,the most millionaire cannot be recognised by their appearance as they remain frugal in habits. Even billionaires like Warren Buffet and Narayan Murthy live in modest Houses and drive ordinary commoners automobiles.
In our quest very interesting data was revealed that the average millionaire household in USA had a net worth of roughly $2.2 million, and about half of the heads of these households are 58 years or older. Forty-five percent of millionaires are retired persons.
The highest number of millionaire residents of USA are located in California. It's no surprise that Los Angeles County topped the list of millionaire with 262,800 households qualifying for millionaire status. While the label "millionaire" may conjure images of business moguls like Bill Gates and Warren Buffet, the TNS study found that just 19 percent of U.S. millionaires made their wealth through all or part of a private business or professional practice. Apparently, the lion's share of the country's millionaires made their money the old-fashioned way, working, saving and investing. This result inspired me to write this article for our readers because in case our readers also try sincerely that can become millionaire. How much time middle class( working class) took to become a millionaire ?The most of the millionaire took Thirty year to become millionaire out of their regular saving and investment habits. What for they have been accumulating wealth?
TNS reported that the most common goal mentioned by the millionaires in the survey was to "assure a comfortable standard of living during retirement." Lesser financial goals listed included leaving a big inheritance to children and charitable giving.
One of the millionaire technocrat said that to become a millionaire, beside his own qualities described above, it is necessary to have a mentor. Many people have become millionaire because they had good guidance from their mentor.The most important example is the driver of Narayan Murthy who became also a millionaire due to coaching of his mentor.
The united states have 8.9 million millionaire where as Russa has 87,000 millionaire and China ha 300,000 millionaire. In my research it was found one of the highest concentration of millionaire is in Silicon valley. In Santa Clara county of silicon valley where I visited found that one out of twelve persons are millionaire. It is a well known fact that Santa Clara is a county of service class population who work as consultant, teachers, office executives , bankers or IT and communication professional. How much salary these professional were making? The most of them made yearly 36,000 dollar initially after five years 1,,50,000 dollar per year and later salary rose to 2.60,000 or more per year beside royalty etc.They regularly paid taxes amounting to 40%(both state and federal).
Before world war 1 most millionaire were from landowner community. Before and after world war 11 most of the millionaire were from business community. Since last sixty years
profile of millionaire changed to middle class. By the end of twentieth century one third of the millionaire came from middle class. During this time millionaire included, scientist, teachers, IT and communication engineers, Business executives, lawyers, Doctors, and architect . I, therefore like to conclude that middle class people of Assam can become also a millionaire in terms of Rupees in-case they save and invest well in thirty years.Our aim however should not be only to become a millionaire but to make fortune while remaining in the path of truth by dint of their education and beautiful mind. For whom do they need money?. Initially for their livelihood, then to live comfortably during days of retirement and there after for the charity of the society, who fostered them.
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G.P.BAROOWAH
During my four months stay in USA I have done some research to find out how most people have become millionaire here ? Is it through business and through investment only? Or through regular habits of saving and investment? To my utter surprise I had to conclude that most of the millionaire in USA have become millionaire now , not from high family business cconnectionnbsp; , inheritance through land lord community's assets and from shares of Industrial investment but from working as a serviceman and through regular saving and investment habit. Approximately 33% millionaire today came from middle class who never inherited fortune from their parents. Even Bill gates and Warren buffet's wealth were created during their life time and not from inheritance. This is a very good news for aspiring midle class of India.
It is a fact that the United States booms when it comes to creating millionaires.Amrica has highest number of millionaires in the world since last fewyears.The nation counted 8.9 million millionaire households in 2005 -- that's more American millionaires than ever before, according to British market researcher TNS Financial Services. It was the third consecutive year the number of U.S. millionaire households rose, and the total number of millionaires has jumped 62 percent since 2002. The study defined a millionaire as anyone who has a net worth of $1 million or more, excluding a primary residence. Even during the period of recession though number of millionaire has reduced by 10% yet America boast highest number oi millionaire.I was pleasently surprised to find that One third of these millionaire are self made scientist, professors, consultant, lawyers, Doctors and Business executives and cinema stars and players.
What are the most important qualities that made them millionaire? We asked a few working persons, who are millionaire at San Jose. They wanted to remain anonymous but confided to us that two most important characteristics could be (a) capacity to dream big and (b) to cultivate the habit of enormous patience. There are a few other qualities that are necessary for building up fortune. they added. Those are frugal habits, avoidance of impulsive decision making, development of courage, to become optimist and understanding the qualities of self discipline. In modern times,the most millionaire cannot be recognised by their appearance as they remain frugal in habits. Even billionaires like Warren Buffet and Narayan Murthy live in modest Houses and drive ordinary commoners automobiles.
In our quest very interesting data was revealed that the average millionaire household in USA had a net worth of roughly $2.2 million, and about half of the heads of these households are 58 years or older. Forty-five percent of millionaires are retired persons.
The highest number of millionaire residents of USA are located in California. It's no surprise that Los Angeles County topped the list of millionaire with 262,800 households qualifying for millionaire status. While the label "millionaire" may conjure images of business moguls like Bill Gates and Warren Buffet, the TNS study found that just 19 percent of U.S. millionaires made their wealth through all or part of a private business or professional practice. Apparently, the lion's share of the country's millionaires made their money the old-fashioned way, working, saving and investing. This result inspired me to write this article for our readers because in case our readers also try sincerely that can become millionaire. How much time middle class( working class) took to become a millionaire ?The most of the millionaire took Thirty year to become millionaire out of their regular saving and investment habits. What for they have been accumulating wealth?
TNS reported that the most common goal mentioned by the millionaires in the survey was to "assure a comfortable standard of living during retirement." Lesser financial goals listed included leaving a big inheritance to children and charitable giving.
One of the millionaire technocrat said that to become a millionaire, beside his own qualities described above, it is necessary to have a mentor. Many people have become millionaire because they had good guidance from their mentor.The most important example is the driver of Narayan Murthy who became also a millionaire due to coaching of his mentor.
The united states have 8.9 million millionaire where as Russa has 87,000 millionaire and China ha 300,000 millionaire. In my research it was found one of the highest concentration of millionaire is in Silicon valley. In Santa Clara county of silicon valley where I visited found that one out of twelve persons are millionaire. It is a well known fact that Santa Clara is a county of service class population who work as consultant, teachers, office executives , bankers or IT and communication professional. How much salary these professional were making? The most of them made yearly 36,000 dollar initially after five years 1,,50,000 dollar per year and later salary rose to 2.60,000 or more per year beside royalty etc.They regularly paid taxes amounting to 40%(both state and federal).
Before world war 1 most millionaire were from landowner community. Before and after world war 11 most of the millionaire were from business community. Since last sixty years
profile of millionaire changed to middle class. By the end of twentieth century one third of the millionaire came from middle class. During this time millionaire included, scientist, teachers, IT and communication engineers, Business executives, lawyers, Doctors, and architect . I, therefore like to conclude that middle class people of Assam can become also a millionaire in terms of Rupees in-case they save and invest well in thirty years.Our aim however should not be only to become a millionaire but to make fortune while remaining in the path of truth by dint of their education and beautiful mind. For whom do they need money?. Initially for their livelihood, then to live comfortably during days of retirement and there after for the charity of the society, who fostered them.
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BHOT JALOKIA : HOTEST CHILLIES OF HE WORLD
During my visit to USA DURING 2006 a Professor friend of mine, working in New Mexico State University, sent me an e -mail as to how Bhot Jolokia was making waves in the research laboratory of his university. I still remember his excitement till today. He excitedly informed me that the hottest of all spices is believed to be the “Bhut Jolokia”, belonging to the capsicum Chinese variety which was measured at 1,001,304 Scoville Heat Units (SHU), at the New Mexico State University, Las Cruces, New Mexico, USA, on September 9 2006.
Following the research results some folks got together for a taste test of the bhut jolokia and found out that it is indeed hot hot enough to use as a weapon Pepper sprays and elephant repellent. (It is reported that it keeps the large animals away from crops). I still remember his excitement. It was just the beginning. Today BHOT JOLOKIA IS wearing the crown of hottest chilies of the world following the reorganization by Guinness Book of World Records. Incidentally according to guineas record the spelling is ‘BHUT’ as against popularly known word of ‘bhot’. THE SPELLING WOULD BE VERY IMPORTANT AS THE TIME PASS BY and as the product gets greater trade value.
I can assume that in years to come capsicum Chinese could be a billion dollar business all over the world and the name must be protected from now onward. My request to AGRICULTURE DEPARTMENT of Assam would be to ensure the trade mark patent of bhot jalokia as soon as possible. Otherwise someone else in the world would cultivate the same variety in Mexico or in California and name it ‘Bhut Jolokia’ and try to patent it, as they did in case of Basmati rice. ( After a long protected battle matter was shorted out due to effort of punjub jat lobby.)
During my recent visit to California I READ THE FOLLOWING NEWS IN A BLOG :
“FIFTY bhut jolokia seeds arrive in the mail. Armed with a seedling heating pad and a small hothouse as well as a desire to burn my lips off, I plant the seeds in a seedling starter kit I bought at K-mart. During planting, a spot under my eye feels like it has battery acid on it. I must have rubbed some capsacicum on it. I think these seeds are the real deal”. From the above it is apparent that already experimentation for cultivators of ‘ BHOT JALOKIA in USA have started
It must be remembered that more than farming of any capsicum or Jalapeños the real money is made out of producing and extracting, oil, sauce and dry powders from the chilies, all over the world. The same will be the case with Bhot Jalokia. On my return from USA recently , it was nice to read from a news paper report of my friend Ajit Patowari that some of the Indian entrepreneurs have already started marketing various products produced out of BHOT JALOKIA and even started EXPORTING. My congratulations to local entrepreneurship. But my humble suggestion is to patent the name of the product so that no one can use the same brand name. Perhaps all of us are aware that wine produce out of grapes cultivated in the Particular district of France can only be sold as CHAMPAGNE. No one else can use that brand name even their wine is produced from better grapes from California or Bangalore.
During my stay in California this summer I read in a magazine that the quality of capsicum Chinese has tremendous medicinal values. I was not aware of these qualities:
Alternative Medicine practitioners are realizing that healing herbs should be part of their arsenal against disease. The newest touted natural herb is Capsicum, found in cayenne pepper. It has many benefits whether taken internally or externally. When taken internally, capsicum is an antibacterial which will encourage healing and deflect infections while slowing the absorption of fat in the intestines to help fight obesity. Because this natural herbal remedy is a stimulant, it improves circulation. Capsicum will also stabilize blood pressure and lower cholesterol. Herbalists are finding capsicum is useful in fighting a variety of ailments. I am told our tribal population located in foothills of northeast Himalayas knew of the medicinal values. BHOT JOLOKIAS ARE USED for treatment of stomach ailment by Assamese people also.
My humble suggestion to local entrepreneurs is to have tie up with someone from GERMANY, ITALY OR MEXICO FOR PRODUCTION OF VARIOUS bye- PRODUCTS OUT OF BHOT JALOKIA AND BUILD UP LASTING RELATIONS FOR MARKETING. If properly marketed sauce produce out of Bhot jolokia would be as popular as Tabasco, Capsico AND chirocha hot sauce. MAY BE it would be much MORE popular for its MEDICINAL VALUES.
--------------------------------------
Following the research results some folks got together for a taste test of the bhut jolokia and found out that it is indeed hot hot enough to use as a weapon Pepper sprays and elephant repellent. (It is reported that it keeps the large animals away from crops). I still remember his excitement. It was just the beginning. Today BHOT JOLOKIA IS wearing the crown of hottest chilies of the world following the reorganization by Guinness Book of World Records. Incidentally according to guineas record the spelling is ‘BHUT’ as against popularly known word of ‘bhot’. THE SPELLING WOULD BE VERY IMPORTANT AS THE TIME PASS BY and as the product gets greater trade value.
I can assume that in years to come capsicum Chinese could be a billion dollar business all over the world and the name must be protected from now onward. My request to AGRICULTURE DEPARTMENT of Assam would be to ensure the trade mark patent of bhot jalokia as soon as possible. Otherwise someone else in the world would cultivate the same variety in Mexico or in California and name it ‘Bhut Jolokia’ and try to patent it, as they did in case of Basmati rice. ( After a long protected battle matter was shorted out due to effort of punjub jat lobby.)
During my recent visit to California I READ THE FOLLOWING NEWS IN A BLOG :
“FIFTY bhut jolokia seeds arrive in the mail. Armed with a seedling heating pad and a small hothouse as well as a desire to burn my lips off, I plant the seeds in a seedling starter kit I bought at K-mart. During planting, a spot under my eye feels like it has battery acid on it. I must have rubbed some capsacicum on it. I think these seeds are the real deal”. From the above it is apparent that already experimentation for cultivators of ‘ BHOT JALOKIA in USA have started
It must be remembered that more than farming of any capsicum or Jalapeños the real money is made out of producing and extracting, oil, sauce and dry powders from the chilies, all over the world. The same will be the case with Bhot Jalokia. On my return from USA recently , it was nice to read from a news paper report of my friend Ajit Patowari that some of the Indian entrepreneurs have already started marketing various products produced out of BHOT JALOKIA and even started EXPORTING. My congratulations to local entrepreneurship. But my humble suggestion is to patent the name of the product so that no one can use the same brand name. Perhaps all of us are aware that wine produce out of grapes cultivated in the Particular district of France can only be sold as CHAMPAGNE. No one else can use that brand name even their wine is produced from better grapes from California or Bangalore.
During my stay in California this summer I read in a magazine that the quality of capsicum Chinese has tremendous medicinal values. I was not aware of these qualities:
Alternative Medicine practitioners are realizing that healing herbs should be part of their arsenal against disease. The newest touted natural herb is Capsicum, found in cayenne pepper. It has many benefits whether taken internally or externally. When taken internally, capsicum is an antibacterial which will encourage healing and deflect infections while slowing the absorption of fat in the intestines to help fight obesity. Because this natural herbal remedy is a stimulant, it improves circulation. Capsicum will also stabilize blood pressure and lower cholesterol. Herbalists are finding capsicum is useful in fighting a variety of ailments. I am told our tribal population located in foothills of northeast Himalayas knew of the medicinal values. BHOT JOLOKIAS ARE USED for treatment of stomach ailment by Assamese people also.
My humble suggestion to local entrepreneurs is to have tie up with someone from GERMANY, ITALY OR MEXICO FOR PRODUCTION OF VARIOUS bye- PRODUCTS OUT OF BHOT JALOKIA AND BUILD UP LASTING RELATIONS FOR MARKETING. If properly marketed sauce produce out of Bhot jolokia would be as popular as Tabasco, Capsico AND chirocha hot sauce. MAY BE it would be much MORE popular for its MEDICINAL VALUES.
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Sunday, November 15, 2009
HUNGER ON THE HORIZON : IT IS TIME TO WAKE UP
It is now a fact that unless Public distribution system is revamped and strong measures are taken to augment agriculture sector, as per the strong signals now received, a famine like situation may develop and devastate the country. Assam would not be an exception to this scene. Till now though two neighboring states of Assam, were experiencing famine in the past, there was no record for Assam experiencing such a bleak situation. The time has changed. Assam has now negative growth rate in agriculture sector. It might trigger famine like situation unless government steps in. The world Food Programme, facing a fund shortage and UN has for the first time appeal to individual persons for cash donation for the first time of its existence. The Head of UN Food Body felt if one billion persons of developed world donate just RS. 69/- a week or one euro($1.50) it would be enough to end world’s hunger and famine. So WFP has issued internet appeal to all individual to contribute. If any one want to contribute contact WFP’S Delhi office.
Addressing WORLD ECONOMIC FORUM’ in New Delhi recently, Mr. Pranab Mukherjee admitted:
"There is a need of generating strong domestic demand until the robust recovery all over the world, particularly in the developed world takes place.”
Mukherjee repeated his pledge for massive investments in agriculture sector and infrastructure, and acknowledged that it would not be easy for Asia's third largest economy to compensate for the loss in exports through domestic demand. "It is not easy for us to diversify the market overnight and make up the loss so we shall have to wait for some time," he said.
The Food and Agriculture Organization (FAO) of United Nations has recently issued a report which reveals that currently there are 75 million (7.5 crore) people in the world are victim of famine and if the current crisis of price rise persists this count may reach the total of 920.25 million (92.25 crore )
India at present is facing the very harsh situations where poorest of the poor of our country have to go to bed hungry. But at this crucial time when the country expects some stringent steps from the government’s side, it is defending itself by saying that food crisis is a global problem. It is not interested in finding and disclosing the root cause of this havoc .
In such a situation it is a heartening to note the definite actions taken by Government of Assam to regulate farm products in the state.. In the time of scarcity it is not only production but supply system needs to be strengthened. THE SATE GOVERNMENT AT LEAST MADE SOME EFFORT to boost consumption, eliminating middle men from the market.
Indian government is of course desperate to stave off spiraling food price inflation atleast during this winter season.
Mr. Mukherjee during the meeting of world economic forum assured that none should be worried about the availability of food grains for the government would continue to import food items to meet any supply shortfall and scarcity food.
ASSAM GOVERNAMEN MUST ENSURE THAT PRICE of THREE THINGS must NOT HIT THE ROOF. It must endeavor to contain the price of rice, vegetable and fish. The fish lobby, in Assam, is very strong. THE GOVERNMENT MUST BREAK THE NEXUS BETWEEN SUPPLIERS – MIDDLEMEN AND RETAILERS. UNLESS MIDDLEMEN ARE CONTAINED NO USEFUL PURPOSE WOULD BE SERVED only BY FIXING UP THE RETAIL PRICE .Assam’s population survived famine like situation in the past mainly due to frugal food habits and due to non dependence on outside supplies. With the increase in population food habits have changed and dependence on outside supplies have increased. The government must strengthen public distribution system, crack nexus of middlemen in fish supplies and develop storage space for sufficient food grains and help small growers to produce green vegetables, rice and fish. THE ARRANGEMENT CAN Be MADE TO BRING IN FISH FROM Andhra government’s fishery department and distribute to retailers at pre determined price and also distribute through area wise Kiosk of Assam’s fishery department.
In spite of rising inflation and panic regarding food availability our government still believes that to sustain in world economy we need investment and support of corporate companies. The Economic Advisory Council to the Prime Minister advocates the role of corporate sector in agriculture and says that activities other than food grain production like commercial crops, horticulture etc. have contributed most to agricultural GDP. The council recommends removal of subsidies related to grain procurement and REVAMPING of Public Distribution System.
“The Unprecedented food scarcity is beginning to dictate the rules of a new political order where individual countries are scrambling to secure their own food supplies with little concern for the rest of the world, “says the founder of the Earth Policy Institute, LESTER Brown.
"We are in the midst of the most severe food crisis in the world’s history," Brown said. "This is not your mother’s food shortage... but a chronically tight food situation, a serious and long-term problem.’’
From Africa to Asia, countries are scrambling to buy or lease land overseas to grow crops and feed their people. China, which has to feed the world’s largest population, has taken the lead by contracting land in Tanzania, Laos, Kazakhstan, Brazil and others.
India has set its eyes on Uruguay and Paraguay, while South Korea is looking for farming deals in Sudan and Siberia. Libya and Egypt for their part have been negotiating deals to lease land in Ukraine.
The worry here, according to Brown, is that "the more influential countries would be able to secure food supplies, leaving a number of low-income, less influential countries with no food to import".
Addressing WORLD ECONOMIC FORUM’ in New Delhi recently, Mr. Pranab Mukherjee admitted:
"There is a need of generating strong domestic demand until the robust recovery all over the world, particularly in the developed world takes place.”
Mukherjee repeated his pledge for massive investments in agriculture sector and infrastructure, and acknowledged that it would not be easy for Asia's third largest economy to compensate for the loss in exports through domestic demand. "It is not easy for us to diversify the market overnight and make up the loss so we shall have to wait for some time," he said.
The Food and Agriculture Organization (FAO) of United Nations has recently issued a report which reveals that currently there are 75 million (7.5 crore) people in the world are victim of famine and if the current crisis of price rise persists this count may reach the total of 920.25 million (92.25 crore )
India at present is facing the very harsh situations where poorest of the poor of our country have to go to bed hungry. But at this crucial time when the country expects some stringent steps from the government’s side, it is defending itself by saying that food crisis is a global problem. It is not interested in finding and disclosing the root cause of this havoc .
In such a situation it is a heartening to note the definite actions taken by Government of Assam to regulate farm products in the state.. In the time of scarcity it is not only production but supply system needs to be strengthened. THE SATE GOVERNMENT AT LEAST MADE SOME EFFORT to boost consumption, eliminating middle men from the market.
Indian government is of course desperate to stave off spiraling food price inflation atleast during this winter season.
Mr. Mukherjee during the meeting of world economic forum assured that none should be worried about the availability of food grains for the government would continue to import food items to meet any supply shortfall and scarcity food.
ASSAM GOVERNAMEN MUST ENSURE THAT PRICE of THREE THINGS must NOT HIT THE ROOF. It must endeavor to contain the price of rice, vegetable and fish. The fish lobby, in Assam, is very strong. THE GOVERNMENT MUST BREAK THE NEXUS BETWEEN SUPPLIERS – MIDDLEMEN AND RETAILERS. UNLESS MIDDLEMEN ARE CONTAINED NO USEFUL PURPOSE WOULD BE SERVED only BY FIXING UP THE RETAIL PRICE .Assam’s population survived famine like situation in the past mainly due to frugal food habits and due to non dependence on outside supplies. With the increase in population food habits have changed and dependence on outside supplies have increased. The government must strengthen public distribution system, crack nexus of middlemen in fish supplies and develop storage space for sufficient food grains and help small growers to produce green vegetables, rice and fish. THE ARRANGEMENT CAN Be MADE TO BRING IN FISH FROM Andhra government’s fishery department and distribute to retailers at pre determined price and also distribute through area wise Kiosk of Assam’s fishery department.
In spite of rising inflation and panic regarding food availability our government still believes that to sustain in world economy we need investment and support of corporate companies. The Economic Advisory Council to the Prime Minister advocates the role of corporate sector in agriculture and says that activities other than food grain production like commercial crops, horticulture etc. have contributed most to agricultural GDP. The council recommends removal of subsidies related to grain procurement and REVAMPING of Public Distribution System.
“The Unprecedented food scarcity is beginning to dictate the rules of a new political order where individual countries are scrambling to secure their own food supplies with little concern for the rest of the world, “says the founder of the Earth Policy Institute, LESTER Brown.
"We are in the midst of the most severe food crisis in the world’s history," Brown said. "This is not your mother’s food shortage... but a chronically tight food situation, a serious and long-term problem.’’
From Africa to Asia, countries are scrambling to buy or lease land overseas to grow crops and feed their people. China, which has to feed the world’s largest population, has taken the lead by contracting land in Tanzania, Laos, Kazakhstan, Brazil and others.
India has set its eyes on Uruguay and Paraguay, while South Korea is looking for farming deals in Sudan and Siberia. Libya and Egypt for their part have been negotiating deals to lease land in Ukraine.
The worry here, according to Brown, is that "the more influential countries would be able to secure food supplies, leaving a number of low-income, less influential countries with no food to import".
Sunday, August 30, 2009
AMERICA'S NEW HEALTH CARE PROPOSAL
"Spiraling health care cost are bankrupting Americans, causing 14000 people to lose their health insurance everyday and will also bankrupt the nation", President Barak Obama said while defending his new Health care proposal for poor people of America.
The Health Insurance reform is the central to the theme of the rebuilding the crisis laden economy of the country stronger than before, he asserted.
In India helath insurance has not come up of the age.The health insurance in India is still vrerycostly and cannot be afforded by the senior citizen and poor people of the country. However India has medical system in place to healp the poor and rich alike through civilo hospitals but it doesnot work, properly.
In India health care is miserable yet we are not getting enough fund to take care of the humanity.The civil hospitals were set up during British Raj. The best of Doctors were deployed in the civil Hospitals and the Civil surgeon of the district was considered top Government official along with the District Magistrate, Police super and the Chief judicial Magistrate. These civil hospitals were serving humanity very well till the middle of twentieth century. Now a days the service of the most of the hospitals have deteriorated and in some case the condition is deplorable. Despite adopting socialistic pattern of society concept in our constitution the Health care institutions in our country have not improved, primarily due to lack of funds and secondarily due to bad management and lack of work and service culture of the society. The rate race of making money has blind folded the responsibility of service class of health care fraternity. Availability of Fund remains a problem even after sixty two years of independence. During my recent visit I found that America has almost fifty billion people who is deprived of proper health care facility. The Obama Administration has tried to rejuvinate this sector now. How ?
Depite the country is passing through worst even recesssion aprogramme to rejuviate the healkth care has taken up . This is for the first time in the history of America the congress is considering a bill which would virtually mean that robe the Peters to pay for the Paul. The bill under discussion would imposed an income surtax on wealthy american to pay for the more than 50 million citzens of America who are deprived of proper health care fascilities. This shows how capitalist America is turning towrds socialistic values of late. The most of the right of the middle path American donot like it. They never liked it when bank and auto giants were also helped. They feel that this kind of asistance by government would put their progonies under debt for many decade. This is not always true.
However the bill now proposed that he House bill would cost between $1 trillion and $1.2 trillion over the next decade, depending on changes to Medicare physician payments. It would impose a surtax on wealthy Americans, beginning with a 1 percent levy for couples earning $350,000 and rising to 5.4 percent on income above $1 million. A single tax payer now drawing income of more than $200.000 shal have to also pay surcharge. There are lots of professors, service holders, scientist and Mangers who draw a salary of $200 0000. Those persons would not like the imposition.
Business leaders issued several critiques of the House approach. Both the National Federation of Independent Business and the U.S. Chamber of Commerce weighed in forcefully against proposals requiring employers to contribute to the cost of health care.
About 1,000 insurance agents fanned out across Capitol Hill, lobbying against creation of a government-sponsored health plan that would compete with private firms.
"This scares the heck out of me," said Tom Minkler, president of the Clark Mortenson Agency, an insurance and financial services agency in Keene, N.H. On visits to congressional offices, he expressed fear that the so-called public plan would lead to a European-style, single-payer system.
Obama, acknowledging the enormity of the task, observed: "It's time for us to buck up."
But there are a few intelectural who have hailed the move. one such person is
Robert Reich, a professor of public policy at the University of California at Berkeley. He was the secretary of labor during the Clinton administration. He said recently
"I don't recall the last time Congress came up with such a direct redistribution. Occasionally Congress closes a few tax loopholes at the top and offers a refundable tax credit to workers at the bottom, or it creates a poor people's program like Medicaid, paid for out of general revenues from a progressive income tax. But to say out loud, as the House has just done, that those in our society who can most readily afford it should pay for the health insurance of those who cannot is, well, audacious."
I really agree with views of intellecturals here that it's the most blatant form of Robin Hood economics ever proposed. The universal healthcare bill reported by the House Tuesday pays for the health insurance of the 20 percent of Americans who need help affording it with a surtax on the richest 1 percent.Taking a tiny sliver of the incomes of the top 1 percent will reduce all that much of their ardor to invest, innovate and hire in the future. Yet if this tiny sliver means affordable healthcare for a far larger number of Americans, who will be able to get regular checkups and thereby stay healthy and productive, the positive effect on the American economy is likely to be far greater.
There several critic who pointed out that French Government once tried to do the same thing but failed. The French experiece resulted in a net loss of national income as high wealth families fled to tax havens in Luxembourg, Liechtenstein and Switzerland. No, if Obama really wants to make this work he has to royally stick it to the middle class. They can't leave the country.
It is foolish to think American businessman would leave the country for imposing 1% tax on them Where would they go? Mexico, Canda or Soth America? The level playing field of those countries would not make them comfortable there. People no forget that most of the American were paying much high tasxes two decades before. The health care bill would gnerate lots of criticism but according to some of us feel that this is an act which would combine the society and enriched the society much nmore gloriously.
----------------------
The Health Insurance reform is the central to the theme of the rebuilding the crisis laden economy of the country stronger than before, he asserted.
In India helath insurance has not come up of the age.The health insurance in India is still vrerycostly and cannot be afforded by the senior citizen and poor people of the country. However India has medical system in place to healp the poor and rich alike through civilo hospitals but it doesnot work, properly.
In India health care is miserable yet we are not getting enough fund to take care of the humanity.The civil hospitals were set up during British Raj. The best of Doctors were deployed in the civil Hospitals and the Civil surgeon of the district was considered top Government official along with the District Magistrate, Police super and the Chief judicial Magistrate. These civil hospitals were serving humanity very well till the middle of twentieth century. Now a days the service of the most of the hospitals have deteriorated and in some case the condition is deplorable. Despite adopting socialistic pattern of society concept in our constitution the Health care institutions in our country have not improved, primarily due to lack of funds and secondarily due to bad management and lack of work and service culture of the society. The rate race of making money has blind folded the responsibility of service class of health care fraternity. Availability of Fund remains a problem even after sixty two years of independence. During my recent visit I found that America has almost fifty billion people who is deprived of proper health care facility. The Obama Administration has tried to rejuvinate this sector now. How ?
Depite the country is passing through worst even recesssion aprogramme to rejuviate the healkth care has taken up . This is for the first time in the history of America the congress is considering a bill which would virtually mean that robe the Peters to pay for the Paul. The bill under discussion would imposed an income surtax on wealthy american to pay for the more than 50 million citzens of America who are deprived of proper health care fascilities. This shows how capitalist America is turning towrds socialistic values of late. The most of the right of the middle path American donot like it. They never liked it when bank and auto giants were also helped. They feel that this kind of asistance by government would put their progonies under debt for many decade. This is not always true.
However the bill now proposed that he House bill would cost between $1 trillion and $1.2 trillion over the next decade, depending on changes to Medicare physician payments. It would impose a surtax on wealthy Americans, beginning with a 1 percent levy for couples earning $350,000 and rising to 5.4 percent on income above $1 million. A single tax payer now drawing income of more than $200.000 shal have to also pay surcharge. There are lots of professors, service holders, scientist and Mangers who draw a salary of $200 0000. Those persons would not like the imposition.
Business leaders issued several critiques of the House approach. Both the National Federation of Independent Business and the U.S. Chamber of Commerce weighed in forcefully against proposals requiring employers to contribute to the cost of health care.
About 1,000 insurance agents fanned out across Capitol Hill, lobbying against creation of a government-sponsored health plan that would compete with private firms.
"This scares the heck out of me," said Tom Minkler, president of the Clark Mortenson Agency, an insurance and financial services agency in Keene, N.H. On visits to congressional offices, he expressed fear that the so-called public plan would lead to a European-style, single-payer system.
Obama, acknowledging the enormity of the task, observed: "It's time for us to buck up."
But there are a few intelectural who have hailed the move. one such person is
Robert Reich, a professor of public policy at the University of California at Berkeley. He was the secretary of labor during the Clinton administration. He said recently
"I don't recall the last time Congress came up with such a direct redistribution. Occasionally Congress closes a few tax loopholes at the top and offers a refundable tax credit to workers at the bottom, or it creates a poor people's program like Medicaid, paid for out of general revenues from a progressive income tax. But to say out loud, as the House has just done, that those in our society who can most readily afford it should pay for the health insurance of those who cannot is, well, audacious."
I really agree with views of intellecturals here that it's the most blatant form of Robin Hood economics ever proposed. The universal healthcare bill reported by the House Tuesday pays for the health insurance of the 20 percent of Americans who need help affording it with a surtax on the richest 1 percent.Taking a tiny sliver of the incomes of the top 1 percent will reduce all that much of their ardor to invest, innovate and hire in the future. Yet if this tiny sliver means affordable healthcare for a far larger number of Americans, who will be able to get regular checkups and thereby stay healthy and productive, the positive effect on the American economy is likely to be far greater.
There several critic who pointed out that French Government once tried to do the same thing but failed. The French experiece resulted in a net loss of national income as high wealth families fled to tax havens in Luxembourg, Liechtenstein and Switzerland. No, if Obama really wants to make this work he has to royally stick it to the middle class. They can't leave the country.
It is foolish to think American businessman would leave the country for imposing 1% tax on them Where would they go? Mexico, Canda or Soth America? The level playing field of those countries would not make them comfortable there. People no forget that most of the American were paying much high tasxes two decades before. The health care bill would gnerate lots of criticism but according to some of us feel that this is an act which would combine the society and enriched the society much nmore gloriously.
----------------------
THE CORPSES THAT TINGLES YOUR MIND
During my recent visit, during the months of August, to the Natural History Museum based at San Diego I was fascinated to see a show of human body that created sensation in my mind. I have never seen such an exhibition in my life . I had heard about the exhibition and felt indomitable desire to view it. It is an exhibition alright but that is not just an end of it. It is a beginning of a thought process which dominates your sensitivity and touches your soul. It forces you to think and question your mind. That is exactly what happened to me ! There were active corpses all around you but you do not have any bizarre feelings. Rather ,you feel fascinated. You get awestruck.
The exhibits of " Body world " are real corpses of human beings..These are real human bodies who were once alive and now dead but reborn as exhibits in real form with flesh and nerve. These are, of course, Skinless human bodies. The body has been kept alive, almost alive, through the process of plastination invented by a scientist : Gunther Von Hagens ..The exhibits created by him are the first public anatomical exhibitions of real human plastinates. They have been on display worldwide for ten years and so far, more than 28 million visitors have viewed the exhibits at venues in cities across Asia, Europe, the United States and Canada.
This exhibition has not been displayed in India, nay, in Asia- save Japan -so far. It is a rare technology invented by the German scientist which preserved the body. It is not mummified.
These are corpse in action. The body has been plasticined on the real human skeleton . It comes alive right in front of viewers eyes . The corpse looks at you on your face expressing tremendous beauty of physical prowess, strength of mind and philosophy of human misery and happiness. In a Mummy, the body is seen only in lying down pause as if in sleep. Here body stares at you. It does not evoke the sense of fear. The actions of corpses made me awestruck. The bodies bring out the sense of adventure and the secrets of human power through action of muscle and nerves.It was unimaginable for me how fascinating to view a humanl body without skin but full of muscles and veins. Oh really ! beautiful bodies that tingle your mind.
You could see a body's reaction of muscle when an exhibit was playing the base ball. Another body was laughing. You would be able to see the powerful face muscle when the exhibit laughed. There was a lady in reclining pause with her belly open with a baby in her womb. The growing baby in the womb head down was almost ready to be born. Viewing this kind of corpse in action provides you a sensation of your birth.
.
The satisfaction of the- would be mother - visibly appeared very real on her face muscle . The persona of a player, a mother ,a happy person makes you brood. It is not only technical marvel but also an exhibition of art as well as anatomical and physiological study of human being. You do not just see it . You marvel at it.
The exceptional success of the exhibits is to a great extent due to its educational value. They are structured in such a way that visitors experience it much as they would read a three-dimensional textbook: The anatomy as the foundation of the body is laid out in an educational and elucidating fashion. Visitors learn about the body’s functions; they also realize how highly sophisticated and beautiful, and yet how fragile the human body is. There are not much of femable bodies. Most bodies are male bodies complete with genitals with nerves. There are few femal body with their great glories.
Due to huge sucess of the body world exhibiton I am told that many plagiarists have sought to exploit the BODY WORLDS phenomena by appropriating the Plastination process invented and patented by Dr. Gunther von Hagens, and offering inferior imitations products. However, Dr. von Hagens believes that BODY WORLDS alone resonates with the public, "because it fills the longing for the authentic in a time of practically unlimited reproducibility."
I was told by the specialist guide at the exhibition Hall that Dr. Gunther von Hagens was the world’s leading anatomist, the inventor of Plastination (the method of specimen preservation that makes anatomical display possible), and the originator of BODY WORLDS or KOERPERWELTEN(its German title), the first of its kind anatomical exhibition. Dr. von Hagens invented Plastination at the University of Heidelberg in 1977, developed the use of plastinated specimens for medical education and preservation, and established the International Society for Plastination. More than 400 universities in 40 countries utilize Dr. Gunther von Hagens’ preservation technique in their curriculum. I am a humble student of Economics and did not understand the intricacy of the chemistry of plastination. But I felt the wonderful sensation the exhits conveyed. I surely recommend all my readers given a chance to view this exhibiton. It is modern marvel of scientifice exploration of human body and wolrk of art too. This particular exhibtion would continue till 2009 November in Natural History Museum of San Diego. Anyody visting USA can make an effort to visit the exhibiton. It should be noted that body recreated by the scientist were obtained through donation of body. The exhibiton stem from a unique Body Donation Program established in Heidelberg, Germany in 1983, later managed by the Institute for Plastination established in 1993. But ther many people who have not liked this marvel for they felt the after death body's place is in tomb or in insunator. The body has no role without vital breath or" Prana"and should be allowed to respectfully kept burried or burnt. The scientific world did not believe that and the result was beautiful body world that speak out with vengence!
Currently, the Institute for Plastination has a donor roster of 9,200 individuals which includes nearly 9000 Europeans and 800 North Americans. Since 1995, more than 25 million people worldwide have visited Gunther von Hagens’ BODY WORLDS’ exhibitions that are currently displayed here. I enquired the specialist guide as to what is plastination"?
He replied that the process plastination was Invented in 1977, Plastination is the groundbreaking method of halting decomposition and preserving anatomical specimens for scientific and medical education. Plastination is the process of extracting all bodily fluids and soluble fat from specimens, replacing them through vacuum forced impregnation with reactive resins and elastomers, and then curing them with light, heat, or certain gases, which give the specimens rigidity and permanence.
The corpses pause in action in the exhibition .These looks alive.
why were these corpses made to be in action? l The brief reply was that the pauses and actions of the plastinates have been carefully thought out and serve educational aims. Each plastinate is posed to illustrate different anatomical features. For instance, the athletic poses illustrate the use of muscle systems while playing sports. The pauses allow the visitors to relate the plastinate to his or her own body. The primary goal of the exhibiton is Health education. The exhibiton is targeted at lay audience to know their own body , how it function, where different organs are located and what are their function . Every individual is unique. Human being reveals their individuality not only through the visible extrerior, but also through the interior of their bodies. Each body is distinctly different from any other. The body's positon , size shape and structure of skelton, muscles nerv es and organes determines our " interior face", added the guide.
Can these information not be conveyed through models of clay?
Absolutely impossible, Guide replied.In that case it would be a simplified version of the real thing. The authenticity of the specifmen not only fascinates but enables the observer to experience the marvel of the real human body.
I returned back from San Diego exhibition hall with a tingling in my mind and marveled at the human ingenuity.Perhaps , I thought, that is why the exhibiton is dedicated to the "individual interior face". It is sad that no photgraphs are allowed to be taken in the exhibiton. May be a few can view these marvelous bodies in action in the internet, if possible.
----------------------------------------
The exhibits of " Body world " are real corpses of human beings..These are real human bodies who were once alive and now dead but reborn as exhibits in real form with flesh and nerve. These are, of course, Skinless human bodies. The body has been kept alive, almost alive, through the process of plastination invented by a scientist : Gunther Von Hagens ..The exhibits created by him are the first public anatomical exhibitions of real human plastinates. They have been on display worldwide for ten years and so far, more than 28 million visitors have viewed the exhibits at venues in cities across Asia, Europe, the United States and Canada.
This exhibition has not been displayed in India, nay, in Asia- save Japan -so far. It is a rare technology invented by the German scientist which preserved the body. It is not mummified.
These are corpse in action. The body has been plasticined on the real human skeleton . It comes alive right in front of viewers eyes . The corpse looks at you on your face expressing tremendous beauty of physical prowess, strength of mind and philosophy of human misery and happiness. In a Mummy, the body is seen only in lying down pause as if in sleep. Here body stares at you. It does not evoke the sense of fear. The actions of corpses made me awestruck. The bodies bring out the sense of adventure and the secrets of human power through action of muscle and nerves.It was unimaginable for me how fascinating to view a humanl body without skin but full of muscles and veins. Oh really ! beautiful bodies that tingle your mind.
You could see a body's reaction of muscle when an exhibit was playing the base ball. Another body was laughing. You would be able to see the powerful face muscle when the exhibit laughed. There was a lady in reclining pause with her belly open with a baby in her womb. The growing baby in the womb head down was almost ready to be born. Viewing this kind of corpse in action provides you a sensation of your birth.
.
The satisfaction of the- would be mother - visibly appeared very real on her face muscle . The persona of a player, a mother ,a happy person makes you brood. It is not only technical marvel but also an exhibition of art as well as anatomical and physiological study of human being. You do not just see it . You marvel at it.
The exceptional success of the exhibits is to a great extent due to its educational value. They are structured in such a way that visitors experience it much as they would read a three-dimensional textbook: The anatomy as the foundation of the body is laid out in an educational and elucidating fashion. Visitors learn about the body’s functions; they also realize how highly sophisticated and beautiful, and yet how fragile the human body is. There are not much of femable bodies. Most bodies are male bodies complete with genitals with nerves. There are few femal body with their great glories.
Due to huge sucess of the body world exhibiton I am told that many plagiarists have sought to exploit the BODY WORLDS phenomena by appropriating the Plastination process invented and patented by Dr. Gunther von Hagens, and offering inferior imitations products. However, Dr. von Hagens believes that BODY WORLDS alone resonates with the public, "because it fills the longing for the authentic in a time of practically unlimited reproducibility."
I was told by the specialist guide at the exhibition Hall that Dr. Gunther von Hagens was the world’s leading anatomist, the inventor of Plastination (the method of specimen preservation that makes anatomical display possible), and the originator of BODY WORLDS or KOERPERWELTEN(its German title), the first of its kind anatomical exhibition. Dr. von Hagens invented Plastination at the University of Heidelberg in 1977, developed the use of plastinated specimens for medical education and preservation, and established the International Society for Plastination. More than 400 universities in 40 countries utilize Dr. Gunther von Hagens’ preservation technique in their curriculum. I am a humble student of Economics and did not understand the intricacy of the chemistry of plastination. But I felt the wonderful sensation the exhits conveyed. I surely recommend all my readers given a chance to view this exhibiton. It is modern marvel of scientifice exploration of human body and wolrk of art too. This particular exhibtion would continue till 2009 November in Natural History Museum of San Diego. Anyody visting USA can make an effort to visit the exhibiton. It should be noted that body recreated by the scientist were obtained through donation of body. The exhibiton stem from a unique Body Donation Program established in Heidelberg, Germany in 1983, later managed by the Institute for Plastination established in 1993. But ther many people who have not liked this marvel for they felt the after death body's place is in tomb or in insunator. The body has no role without vital breath or" Prana"and should be allowed to respectfully kept burried or burnt. The scientific world did not believe that and the result was beautiful body world that speak out with vengence!
Currently, the Institute for Plastination has a donor roster of 9,200 individuals which includes nearly 9000 Europeans and 800 North Americans. Since 1995, more than 25 million people worldwide have visited Gunther von Hagens’ BODY WORLDS’ exhibitions that are currently displayed here. I enquired the specialist guide as to what is plastination"?
He replied that the process plastination was Invented in 1977, Plastination is the groundbreaking method of halting decomposition and preserving anatomical specimens for scientific and medical education. Plastination is the process of extracting all bodily fluids and soluble fat from specimens, replacing them through vacuum forced impregnation with reactive resins and elastomers, and then curing them with light, heat, or certain gases, which give the specimens rigidity and permanence.
The corpses pause in action in the exhibition .These looks alive.
why were these corpses made to be in action? l The brief reply was that the pauses and actions of the plastinates have been carefully thought out and serve educational aims. Each plastinate is posed to illustrate different anatomical features. For instance, the athletic poses illustrate the use of muscle systems while playing sports. The pauses allow the visitors to relate the plastinate to his or her own body. The primary goal of the exhibiton is Health education. The exhibiton is targeted at lay audience to know their own body , how it function, where different organs are located and what are their function . Every individual is unique. Human being reveals their individuality not only through the visible extrerior, but also through the interior of their bodies. Each body is distinctly different from any other. The body's positon , size shape and structure of skelton, muscles nerv es and organes determines our " interior face", added the guide.
Can these information not be conveyed through models of clay?
Absolutely impossible, Guide replied.In that case it would be a simplified version of the real thing. The authenticity of the specifmen not only fascinates but enables the observer to experience the marvel of the real human body.
I returned back from San Diego exhibition hall with a tingling in my mind and marveled at the human ingenuity.Perhaps , I thought, that is why the exhibiton is dedicated to the "individual interior face". It is sad that no photgraphs are allowed to be taken in the exhibiton. May be a few can view these marvelous bodies in action in the internet, if possible.
----------------------------------------
AMERICA'S EDUCATIONAL SYSTEM AND EFFECT OF RECESSION
Ever since my arrival at Los Angeles in July, I started meeting a few college teachers, in the neighborhood of Los Angeles county, a number of times.To my utter surprise I found that the economic recession has not spared even the education system of this great country. I was aware of the fact that recession created unemployment in industry and trade. But I had no idea that college education system could be also a victim of the recession.. Now a days in America most of the young graduates who joined the service , during last few years, have lost job in industry and trade. The shutters of many medium sized trading houses have been brought down. Till now ,I was under the impression that jobs in education and government sectors were recession proof. But I found here that even in Government sector employees have accepted pay cuts so that cost of running the government could be salvaged. Only grocery stores, seven to eleven stores and health clinics and pharmacy are doing moderate business and only the department of defense is still trying to recruit people offering extra fascilites.
California is the eighth biggest economies of the world. But recession and excessive spending by government has made it a sick state. The Governor of California Mr. Schwarzenegger publicly admitted that had the state of California would have been a corporation it would have been compelled to declare bankruptcy. It was a revelation for me that once such a strong Lion like economy can also be turned into a dormant rabbit. However Economist here greatly differ in their views and some of them felt that California has enough resilience to come back to life again. Perhaps those economist may be true in their conviction but presently the economy is surely under stress. None knows how to empower the economy immediately. Now any visiting person can feel the air of depression as well without being an expert..I was impossible to believe that a hotel room in a four star hotel at San Jose area of Silicon valley, which used to cost around $200 dollar a day, is now available for $ 56 dollar a day with breakfast and evening tea as complimentary deal. I was sadden at the turn of event. During the month of July Governor of California has increased the tuition fee of all school going student by 20% and budget allocation for the school education slashed forcing less numbers of teacher per school now.
I had visited California number of times in my life but never found people so depressed. A pound of clean fresh whole chicken is now available; in our neighbourhood of Castaic city, at Ralphs Grocery Store at 55 cent a pound. Translating it to Indian rupees and weight the cost stands at Rs 53 a KG ( the cost of chicken at Guwahati is much higher now). With the cost of product going down people should have been happy but they are not. Why? Because this is the sign of strong depression. The deflation now can set in at any time, they were afraid. We need to remember that if the strongest economy in the world can suffer, how vulnerable our country is against recession.So we need to save now and invest when opportune time knocks at our door. The share market is high now and surely it would come down .Invest money at that point of time to reap the benefit after a few years.
One of my friend Dr. Maria Borrowvitch,an adjunct professor of Sociology in CalState University. She told that she is convinced by now that after her present contract expire in August there would be no renewal of her assignment. She was teaching in the university continously for last fifteen years.
I also visited recently a neighborhood college , the "College of the Canyons". It is in the Santa Clarity Community College District. The community colleges are backbone of the American educational system. It is not a graduate college. It is an intermediate college offering "AB degrees"mostly offering vocational, technical and community demanded courses like security services, water Technology and Recreation services etc.". THESE COLLEGES ARE government aided. The Fall semester in USA begins from August and registration starts from July in these colleges. The Directors of studies replying to my question stated that "the State of California is experiencing a severe budget shortage. The College would get much lesser grants this year. This would require the change in number of courses offered..The class with low enrollment have a greater risk of being canceled, the tuition fee would be required to be upwardly revised." With strong possibilities of cancellation of classes either teachers shall have to be reduced or pay cuts would be inevitable.( Thank God at least in our poor country teachers are not loosing jobs or getting pay cuts due to recession). At first I thought this was the condition of community colleges only. But even the great institute like Harvard university is also facing the impact of recession.It is not just a mere gossip but it is a fact of life now.
During past February, President Drew Gilpin Faust of Harvard said : "We are a community of distinguished scholars, talented students, and dedicated staff-teachers and learners defined by our ideas and discoveries, not by our financial resources." That same month, Harvard announced its first cuts to cleaning and custodial staff at Harvard Medical School, and budget cuts resulting in custodial staff layoffs at Harvard Real Estate Properties and Peabody Terrace.
Many of those whose jobs have been targeted are among the most vulnerable in the community-the lowest paid, the immigrants, the marginalized staff. However .Harvard maintained that the cuts are justified as part of a university-wide response to an estimated thirty percent drop in the value of its endowment this year. Yet, Harvard , according to information given to me, remains the wealthiest university in US and one of the wealthiest non-profits in the world. President Faust declared that, "for Harvard, as for many other colleges and universities, our challenge is to confront the new economic realities and intelligently adapt ourselves to them."
Some economists felt contrary to the above statement. They felt" an institution as wealthy as Harvard can and should find more creative and equitable ways to make up the deficit than by laying off its lowest-paid workers". Since Harvard administration have not done enough to confront the issue many scholars and society leaders are criticising them today.But example that must be appreciated is that seniors , administrators and professers at the University have also taken pay cuts volunteerily. This is what we need to learn from them. Some Bank bosses did not do that and were forced to step back while taking their performance Bonus or return the stimulus package taken.
Harvard's peers are now exploring ways to prioritize jobs through shared responsibility. The president and top administrators of Stanford University have taken a voluntary 10% pay cut for the next two academic years. University of Tennessee Acting President Jan Simek and his executive staff will take a voluntary pay cut of 5%, while Mark S. Wrighton, chancellor of Washington University in St. Louis, will take a 10% pay cut for the next academic year.
In the Boston area, the faculty members have been asked to support a 1% pay cut to help retain employees who work in non-teaching positions at the school, while executives at Beth Israel Deaconess Medical Center recently took a salary cut to preserve several hundred positions.
In US unlike our country, univeristies are growth engine of the community. So depression in universities creates depression in their community.Communities are trying to help the university by endownments, donations and by accepting cuts in their salary and by accepting increase in their tax liabilites in municipal educational rates.
This would be impossible for us to imagine back home.. When lots of people from Assam are getting job loss, the government has dared to declare pay rise for government employees alone. Perhaps, people would have appreciated more if bold steps, to rejuvenate employment situation for youth of the state, would have been taken first before the income raise to the government employees were granted..
---------------------------------------------
California is the eighth biggest economies of the world. But recession and excessive spending by government has made it a sick state. The Governor of California Mr. Schwarzenegger publicly admitted that had the state of California would have been a corporation it would have been compelled to declare bankruptcy. It was a revelation for me that once such a strong Lion like economy can also be turned into a dormant rabbit. However Economist here greatly differ in their views and some of them felt that California has enough resilience to come back to life again. Perhaps those economist may be true in their conviction but presently the economy is surely under stress. None knows how to empower the economy immediately. Now any visiting person can feel the air of depression as well without being an expert..I was impossible to believe that a hotel room in a four star hotel at San Jose area of Silicon valley, which used to cost around $200 dollar a day, is now available for $ 56 dollar a day with breakfast and evening tea as complimentary deal. I was sadden at the turn of event. During the month of July Governor of California has increased the tuition fee of all school going student by 20% and budget allocation for the school education slashed forcing less numbers of teacher per school now.
I had visited California number of times in my life but never found people so depressed. A pound of clean fresh whole chicken is now available; in our neighbourhood of Castaic city, at Ralphs Grocery Store at 55 cent a pound. Translating it to Indian rupees and weight the cost stands at Rs 53 a KG ( the cost of chicken at Guwahati is much higher now). With the cost of product going down people should have been happy but they are not. Why? Because this is the sign of strong depression. The deflation now can set in at any time, they were afraid. We need to remember that if the strongest economy in the world can suffer, how vulnerable our country is against recession.So we need to save now and invest when opportune time knocks at our door. The share market is high now and surely it would come down .Invest money at that point of time to reap the benefit after a few years.
One of my friend Dr. Maria Borrowvitch,an adjunct professor of Sociology in CalState University. She told that she is convinced by now that after her present contract expire in August there would be no renewal of her assignment. She was teaching in the university continously for last fifteen years.
I also visited recently a neighborhood college , the "College of the Canyons". It is in the Santa Clarity Community College District. The community colleges are backbone of the American educational system. It is not a graduate college. It is an intermediate college offering "AB degrees"mostly offering vocational, technical and community demanded courses like security services, water Technology and Recreation services etc.". THESE COLLEGES ARE government aided. The Fall semester in USA begins from August and registration starts from July in these colleges. The Directors of studies replying to my question stated that "the State of California is experiencing a severe budget shortage. The College would get much lesser grants this year. This would require the change in number of courses offered..The class with low enrollment have a greater risk of being canceled, the tuition fee would be required to be upwardly revised." With strong possibilities of cancellation of classes either teachers shall have to be reduced or pay cuts would be inevitable.( Thank God at least in our poor country teachers are not loosing jobs or getting pay cuts due to recession). At first I thought this was the condition of community colleges only. But even the great institute like Harvard university is also facing the impact of recession.It is not just a mere gossip but it is a fact of life now.
During past February, President Drew Gilpin Faust of Harvard said : "We are a community of distinguished scholars, talented students, and dedicated staff-teachers and learners defined by our ideas and discoveries, not by our financial resources." That same month, Harvard announced its first cuts to cleaning and custodial staff at Harvard Medical School, and budget cuts resulting in custodial staff layoffs at Harvard Real Estate Properties and Peabody Terrace.
Many of those whose jobs have been targeted are among the most vulnerable in the community-the lowest paid, the immigrants, the marginalized staff. However .Harvard maintained that the cuts are justified as part of a university-wide response to an estimated thirty percent drop in the value of its endowment this year. Yet, Harvard , according to information given to me, remains the wealthiest university in US and one of the wealthiest non-profits in the world. President Faust declared that, "for Harvard, as for many other colleges and universities, our challenge is to confront the new economic realities and intelligently adapt ourselves to them."
Some economists felt contrary to the above statement. They felt" an institution as wealthy as Harvard can and should find more creative and equitable ways to make up the deficit than by laying off its lowest-paid workers". Since Harvard administration have not done enough to confront the issue many scholars and society leaders are criticising them today.But example that must be appreciated is that seniors , administrators and professers at the University have also taken pay cuts volunteerily. This is what we need to learn from them. Some Bank bosses did not do that and were forced to step back while taking their performance Bonus or return the stimulus package taken.
Harvard's peers are now exploring ways to prioritize jobs through shared responsibility. The president and top administrators of Stanford University have taken a voluntary 10% pay cut for the next two academic years. University of Tennessee Acting President Jan Simek and his executive staff will take a voluntary pay cut of 5%, while Mark S. Wrighton, chancellor of Washington University in St. Louis, will take a 10% pay cut for the next academic year.
In the Boston area, the faculty members have been asked to support a 1% pay cut to help retain employees who work in non-teaching positions at the school, while executives at Beth Israel Deaconess Medical Center recently took a salary cut to preserve several hundred positions.
In US unlike our country, univeristies are growth engine of the community. So depression in universities creates depression in their community.Communities are trying to help the university by endownments, donations and by accepting cuts in their salary and by accepting increase in their tax liabilites in municipal educational rates.
This would be impossible for us to imagine back home.. When lots of people from Assam are getting job loss, the government has dared to declare pay rise for government employees alone. Perhaps, people would have appreciated more if bold steps, to rejuvenate employment situation for youth of the state, would have been taken first before the income raise to the government employees were granted..
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Wednesday, June 3, 2009
MARKET VOLATILITY ENSURES BETTER RETURNS
During the Third week of May, after election results were announced, the share market has gone up. It is possible that market may come down soon. But that should not deter investor to stop buying equity. For the long run equity is the king and this is the time to invest as market goes down through systematic investment plan(SIP) in mutual fund.
According to an expert, volatility is the friend of astute investors. It is actually the volatility that would make you rich.
Prolonged bear phase is not welcome by new and uninformed investors. But astute investors always welcome volatility and bear phase in share market .According to Warren Buffet equity is the king in the long run. Why? Because, in the long term, the share market is bound to have fluctuations and volatility. The volatility ensures better return if invested with prudence. In case investors adhere to systematic investment plan and Systematic transfer plans he or she is sure to benefit. This is the point which most of the casual investors always ignore. For example, in case index would have remained static at 5900(from 2000 to 2004) none would have been able to make money. Since the sensex went down from 5900 to 2800(in 2002) and then again it climbed up to 5900 (in 2004) astute investors made lots of money. When market went down in 2002 people who continued to follow SIP route and kept on buying the units at lower cost they reaped great benefit. As market rebounded the investors were benefited because their cost of acquisition was much lower during the bear phase. So to be frank enough bear phase should not be looked down always. Investors of mutual fund must keep it in mind certain important points.
1 .Investors should not time the market always. Investment can be made at time .Only points to be remembered is buy in phased manner.
2. All the money at the disposal of investors should not be invested in equity. Depending on the age of investor and income of investor it should be invested proportionately in debt and equity.
3 The money required for day to day expenses should be invested in debt funds & bank fixed deposit.
4. The balance of investment in debt and equity should be changed as the years pass bye.
As investors advances in age more should money be allocated in fixed income and less should be earmarked in equity.
5. While share market recovers never invest lump sum money at one goes. It should be through SIP or through STP. My personal preference is STP. You can invest in lump sum only when you are sure bottom has been touched already. (This is very difficult to predict). Can you really predict the bottom? So avoid putting money all together.
Dhirendra Kumar , well known mutual fund expert recently said “Any investors who have followed the time honoured prudent advice would be sitting pretty today, largely unaffected by the current turmoil of 2008. He felt that the market value of your investments may be down today but since you do not need any of it for the years to come, it doesn’t really matter. Long before you will need the money it would have had a chance to grow again. (Personal Finance, The telegraphs, 3rd November).
The loss in front of the eyes of investor today is actually notional loss. This would be made good when market takes a turn for the Good. But where is the guarantee that market is going to rebound? In share market no body can predict the behavior of the market. There was no guarantee that market would touch the bottom similarly there is no
Guarantee that market would surely move up. But our experience reveals that market is going to go up sooner or later as there would be growth in the economy in the long term. If the world can recover from great depression in 1927 there is no reason why the turmoil of 2008 would not be able to be handled. No doubt time is difficult. Depression can be seen all around but efforts of all the authorities are also genuine to give a push for the growth of the economy.
I would like to quote the remark of Dhirendra kumar “Despite the crashes, equity is a far safer option over the long run. The real danger to your financial well being is not the market crash, but from the insidious effect of inflation’. Yes, equity is not really unsafe, what is really unsafe is our mentality and fear psychosis.
_______________________________
According to an expert, volatility is the friend of astute investors. It is actually the volatility that would make you rich.
Prolonged bear phase is not welcome by new and uninformed investors. But astute investors always welcome volatility and bear phase in share market .According to Warren Buffet equity is the king in the long run. Why? Because, in the long term, the share market is bound to have fluctuations and volatility. The volatility ensures better return if invested with prudence. In case investors adhere to systematic investment plan and Systematic transfer plans he or she is sure to benefit. This is the point which most of the casual investors always ignore. For example, in case index would have remained static at 5900(from 2000 to 2004) none would have been able to make money. Since the sensex went down from 5900 to 2800(in 2002) and then again it climbed up to 5900 (in 2004) astute investors made lots of money. When market went down in 2002 people who continued to follow SIP route and kept on buying the units at lower cost they reaped great benefit. As market rebounded the investors were benefited because their cost of acquisition was much lower during the bear phase. So to be frank enough bear phase should not be looked down always. Investors of mutual fund must keep it in mind certain important points.
1 .Investors should not time the market always. Investment can be made at time .Only points to be remembered is buy in phased manner.
2. All the money at the disposal of investors should not be invested in equity. Depending on the age of investor and income of investor it should be invested proportionately in debt and equity.
3 The money required for day to day expenses should be invested in debt funds & bank fixed deposit.
4. The balance of investment in debt and equity should be changed as the years pass bye.
As investors advances in age more should money be allocated in fixed income and less should be earmarked in equity.
5. While share market recovers never invest lump sum money at one goes. It should be through SIP or through STP. My personal preference is STP. You can invest in lump sum only when you are sure bottom has been touched already. (This is very difficult to predict). Can you really predict the bottom? So avoid putting money all together.
Dhirendra Kumar , well known mutual fund expert recently said “Any investors who have followed the time honoured prudent advice would be sitting pretty today, largely unaffected by the current turmoil of 2008. He felt that the market value of your investments may be down today but since you do not need any of it for the years to come, it doesn’t really matter. Long before you will need the money it would have had a chance to grow again. (Personal Finance, The telegraphs, 3rd November).
The loss in front of the eyes of investor today is actually notional loss. This would be made good when market takes a turn for the Good. But where is the guarantee that market is going to rebound? In share market no body can predict the behavior of the market. There was no guarantee that market would touch the bottom similarly there is no
Guarantee that market would surely move up. But our experience reveals that market is going to go up sooner or later as there would be growth in the economy in the long term. If the world can recover from great depression in 1927 there is no reason why the turmoil of 2008 would not be able to be handled. No doubt time is difficult. Depression can be seen all around but efforts of all the authorities are also genuine to give a push for the growth of the economy.
I would like to quote the remark of Dhirendra kumar “Despite the crashes, equity is a far safer option over the long run. The real danger to your financial well being is not the market crash, but from the insidious effect of inflation’. Yes, equity is not really unsafe, what is really unsafe is our mentality and fear psychosis.
_______________________________
Tuesday, April 7, 2009
GENERATE DEMAND FOR GOODS AND CREATE EMPLOYMENT
In today's recessionary circumstances it is imperative to create demand for goods and rebuild the infrastructure. This effort if proved successful, employments would be generated automatically and that in turn would generate income of people.
Sad news are hitting Indian society all the time since January 2008. In a period of recession worst affected areas are always industrial sector first. The secondary sector always becomes first to receive the social bullets during down turn. Since industrial enterprises, in the period of boom, create employment liberally it gets effected badly during the time of economic recession. In India the agriculture is the biggest employer. It is followed by textile segments. Due to bad export more than four lakh employees have lost job during the year. It would start cascading effect. The most employees are workmen. Up till now sophisticated urban boys were losing jobs. Now even skilled workers have started loosing jobs. This may create turmoil in the society. Should this trend continue a chaos may erupt resulting in arson and looting which was not seen in our society for economic depression. Even during Bengal famine no such major upheaval was noticed amongst the various economic segment of the society.
Barrack Obama, American president forewarned recent the youth of America recently that unless boys were prepared to compete with Chinese and Indian lads it would be an annihilation to them. Neither mediocrity would be tolerated nor survived. Young American boys need to pull up their socks in case they want to survive . These words of President Obama was meant for the boys of his country. But it is also true for our own country too. Our boys must develop skills, new skills for new job. Not only development of skill alone would resolve the problem. Indian boys shall have to understand the dignity of labour.
In a time of recession for most boys’ service sector might be the only answer. The service sector would need honest and dedicated employees. Over the years it is seen how transport sector have developed with private drivers giving excellent service coupled with watch and ward forces. Ten years back 12 hours dedicated service from employees was unthinkable. Now it has become the order of the day. Courier service is another example of dedicated service of the day.
During the recession it is health and food related segments which can provide some stability. In this respect Government can help providing for training facility for health
related machines and instruments. The medical facilities of the private sector enterprises can be utilized for the training purposes. These boys could be deployed after proper training to the villages to take care of health of the population.
Perhaps development of agriculture sector could be also savior. In Assam fertility of land is high but credit availability is low, supply of fertilizer and irrigational canal , except in few place are not sufficient. Can Government think of these areas for development? This is also the time for building up enough roads in the villages linking the district headquarters. Fisheries are other areas where development can be thought of.. Thesd are the areas where our boys also have to show interest. Otherwise money would be spent by Government but it would go to the new generation of workers across the border.
The Government must also start quasi medical facilities at the earliest. A host of engineering college has been opened. There would be lots of requirement for laboratory technicians, teachers, demonstrators etc. Our boys must also be prepared to accept training and get them selves retrained with Media related avenues. During this time
There is no chance to loose jobs in media sphere, educational institute, nursing and
NGO. More and more services are coming into the fore in NGO. The social welfare segments are also coming up pretty well. Young engineers instead of waiting endlessly for the job posting which they were promised during campus interview should prepare for All India civil service jobs. A lot of engineers are required in the defense forces. Young boys and girls can keep their eyes and ears open and apply for these job. In Assam even most of the educated boys do not like to sit in the Government of India jobs. Slowly this trend is changing and boys and girls are trying to compete for these post..
The most important thing during these periods is the support of the family. Family members must try to provide great deal of support to boys who have not been able to get jobs now or whose jobs have been laid off.
The unions of the state have also a roll to play. Instead of confront with the Management it is the time to cooperate with the management. Productivity must not be ignored. Lay off could be avoided at the cost of acceptance of lower salary if need be. One thing must be kept in mind that bad time will not continue for ever. It is bound to change. The bad days would change for good .Only thing workers must wait with positive outlook.
-----------------------------------------------
Sad news are hitting Indian society all the time since January 2008. In a period of recession worst affected areas are always industrial sector first. The secondary sector always becomes first to receive the social bullets during down turn. Since industrial enterprises, in the period of boom, create employment liberally it gets effected badly during the time of economic recession. In India the agriculture is the biggest employer. It is followed by textile segments. Due to bad export more than four lakh employees have lost job during the year. It would start cascading effect. The most employees are workmen. Up till now sophisticated urban boys were losing jobs. Now even skilled workers have started loosing jobs. This may create turmoil in the society. Should this trend continue a chaos may erupt resulting in arson and looting which was not seen in our society for economic depression. Even during Bengal famine no such major upheaval was noticed amongst the various economic segment of the society.
Barrack Obama, American president forewarned recent the youth of America recently that unless boys were prepared to compete with Chinese and Indian lads it would be an annihilation to them. Neither mediocrity would be tolerated nor survived. Young American boys need to pull up their socks in case they want to survive . These words of President Obama was meant for the boys of his country. But it is also true for our own country too. Our boys must develop skills, new skills for new job. Not only development of skill alone would resolve the problem. Indian boys shall have to understand the dignity of labour.
In a time of recession for most boys’ service sector might be the only answer. The service sector would need honest and dedicated employees. Over the years it is seen how transport sector have developed with private drivers giving excellent service coupled with watch and ward forces. Ten years back 12 hours dedicated service from employees was unthinkable. Now it has become the order of the day. Courier service is another example of dedicated service of the day.
During the recession it is health and food related segments which can provide some stability. In this respect Government can help providing for training facility for health
related machines and instruments. The medical facilities of the private sector enterprises can be utilized for the training purposes. These boys could be deployed after proper training to the villages to take care of health of the population.
Perhaps development of agriculture sector could be also savior. In Assam fertility of land is high but credit availability is low, supply of fertilizer and irrigational canal , except in few place are not sufficient. Can Government think of these areas for development? This is also the time for building up enough roads in the villages linking the district headquarters. Fisheries are other areas where development can be thought of.. Thesd are the areas where our boys also have to show interest. Otherwise money would be spent by Government but it would go to the new generation of workers across the border.
The Government must also start quasi medical facilities at the earliest. A host of engineering college has been opened. There would be lots of requirement for laboratory technicians, teachers, demonstrators etc. Our boys must also be prepared to accept training and get them selves retrained with Media related avenues. During this time
There is no chance to loose jobs in media sphere, educational institute, nursing and
NGO. More and more services are coming into the fore in NGO. The social welfare segments are also coming up pretty well. Young engineers instead of waiting endlessly for the job posting which they were promised during campus interview should prepare for All India civil service jobs. A lot of engineers are required in the defense forces. Young boys and girls can keep their eyes and ears open and apply for these job. In Assam even most of the educated boys do not like to sit in the Government of India jobs. Slowly this trend is changing and boys and girls are trying to compete for these post..
The most important thing during these periods is the support of the family. Family members must try to provide great deal of support to boys who have not been able to get jobs now or whose jobs have been laid off.
The unions of the state have also a roll to play. Instead of confront with the Management it is the time to cooperate with the management. Productivity must not be ignored. Lay off could be avoided at the cost of acceptance of lower salary if need be. One thing must be kept in mind that bad time will not continue for ever. It is bound to change. The bad days would change for good .Only thing workers must wait with positive outlook.
-----------------------------------------------
Monday, March 16, 2009
HOW TO TACKLE LAY OFF NOW ?
The Industries have started laying off employees now! Even CITU backed employees have accepted pay cuts in Hindustan Motors Limited, to avoid lay off. Today’s youths must realize that Lay off is not a personal failure. It is a requirement of the modern business system. Yes, lay off brings in personal pain but like all difficult situation this could be tackled with determination. Gone were the days when once a person was recruited he is retained for the life. Ten years back it was impossible to enforce lay off. Now, public undertakings are contemplating job cuts. The acquiring of fresh skills of the day is the only security.
Some readers enquired how to ensure security of jobs? Most of the engineering and arts graduates are facing dichotomy. Whether to join MBA course or accept a job with paltry salary for the time being. I wrote back to them that honest boys do not get pressurized rather they pressurize their mind to stabilize the emotion. The hard time don’t last long but hard mind do withstand calamities always. We need to realize that it was single minded devotion to develop fresh skill that would be only savior The present situation of uncertainty has brought in sufferings. Unfortunately our society has developed a culture where the designation and amount of money a person makes has become the signature of importance. Job has become essentially a self definition, not the value he upholds.
The young boys need to realize following points now::
• The companies are running a business, not a charity. Don't take it as a personal failure.
• Security does not come from the Job you are doing or the company you are working with. Security comes from the knowledge and skills you have developed. Keep upgrading your skills so that you are always employable, even in the worst time.
• Keep your eyes and ears open.
• Avoid knee-jerk reactions. If your company lays-off people, don't panic.
• Once you are laid-off, keep your expected salaries for potential recruiters at a reasonable level, to avoid the chance of interview.
Many people do not realize that all educated persons may not be “employment ready” and “ready to deploy” for the jobs. What are the meanings of” employment ready” and “Ready to deploy”? The “employment ready” persons are those who have basic skills in place and can be hired by the industry. The basic skills are problem-solving communication, interpersonal skills and working knowledge of the technical domain such as computer operation and programming for IT aspirants. The” ready to deploy” persons can start generating revenue for the company immediately. It is very difficult to sometime to get employment ready people as well as ready to deploy people. In good times, these investments were done by companies after hiring fresh candidates. However, in these tough times, companies are actively seeking resources that are pre-skilled. Hence, students need to make the investment in enhancing their skills themselves to meet the industry’s expectation. I believe that the key to the solutions is to make the academia work closely with institutions that can help them improve the skill set of students. Now Government can step in and provide much needed help in this regards by identifying institution to train jobless boys. Trauma of loosing job is painful indeed. Wives feels miserable to tell friends that husband is not going to job for sometime. Of course even now there are job which are recession free. They are Accounting, entertainment, energy, education, beside Government, health care, law enforcement, media, old age help, and priesthood, plumbers, electricians and service boys. If dignity of labour is believed let us try our hands here to survive.
We are again and again harping that lay off is not a personal failure. Employees must keep cool and parents need to develop a support system instead of bullying them, showing the example of others. All boys are unique in their own ways. We need to remember; Einstein failed to count his changes initially but resolved the mathematical puzzles of the universe, later. Let us cheers up the young people for getting them trained up.
---------------------------------------------------------------------------
Some readers enquired how to ensure security of jobs? Most of the engineering and arts graduates are facing dichotomy. Whether to join MBA course or accept a job with paltry salary for the time being. I wrote back to them that honest boys do not get pressurized rather they pressurize their mind to stabilize the emotion. The hard time don’t last long but hard mind do withstand calamities always. We need to realize that it was single minded devotion to develop fresh skill that would be only savior The present situation of uncertainty has brought in sufferings. Unfortunately our society has developed a culture where the designation and amount of money a person makes has become the signature of importance. Job has become essentially a self definition, not the value he upholds.
The young boys need to realize following points now::
• The companies are running a business, not a charity. Don't take it as a personal failure.
• Security does not come from the Job you are doing or the company you are working with. Security comes from the knowledge and skills you have developed. Keep upgrading your skills so that you are always employable, even in the worst time.
• Keep your eyes and ears open.
• Avoid knee-jerk reactions. If your company lays-off people, don't panic.
• Once you are laid-off, keep your expected salaries for potential recruiters at a reasonable level, to avoid the chance of interview.
Many people do not realize that all educated persons may not be “employment ready” and “ready to deploy” for the jobs. What are the meanings of” employment ready” and “Ready to deploy”? The “employment ready” persons are those who have basic skills in place and can be hired by the industry. The basic skills are problem-solving communication, interpersonal skills and working knowledge of the technical domain such as computer operation and programming for IT aspirants. The” ready to deploy” persons can start generating revenue for the company immediately. It is very difficult to sometime to get employment ready people as well as ready to deploy people. In good times, these investments were done by companies after hiring fresh candidates. However, in these tough times, companies are actively seeking resources that are pre-skilled. Hence, students need to make the investment in enhancing their skills themselves to meet the industry’s expectation. I believe that the key to the solutions is to make the academia work closely with institutions that can help them improve the skill set of students. Now Government can step in and provide much needed help in this regards by identifying institution to train jobless boys. Trauma of loosing job is painful indeed. Wives feels miserable to tell friends that husband is not going to job for sometime. Of course even now there are job which are recession free. They are Accounting, entertainment, energy, education, beside Government, health care, law enforcement, media, old age help, and priesthood, plumbers, electricians and service boys. If dignity of labour is believed let us try our hands here to survive.
We are again and again harping that lay off is not a personal failure. Employees must keep cool and parents need to develop a support system instead of bullying them, showing the example of others. All boys are unique in their own ways. We need to remember; Einstein failed to count his changes initially but resolved the mathematical puzzles of the universe, later. Let us cheers up the young people for getting them trained up.
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