Archive for July 20th, 2015

What future of Exim Bank of India?

July 20, 2015

The charter for US Exim Bank collapsed on 1 July 2015. It is now on the path to closure.  What remains of existing Exim Banks in other countries? For instance, India’s own Exim Bank?

Exim Bank India chief thinks it will get more business post closure of its US counterpart:

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Ease of doing Business in India: Seems more of hype as of now..

July 20, 2015

Jyotsna Narang, a young entrepreneur, narrates her story of trying to get a loan recently.

She was highly enthused over recent promises by govt to ease doing business. Though, it was just a wake-up call.

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IMF might actually be asking Europe to adopt more socialism!!

July 20, 2015

IMF is seen as this uber platform for pushing capitalism and free markets down its member’s throats. The even mention of the letter S (for Socialism) and C (for controls) in the corridors of Bretton Woods institution is enough to land one in trouble. Though, post crisis, IMF has accepted C (as in capital controls) in a real change of heart.

However, if one thinks of IMF’s role in crisis it is just the opposite. It usually wants a super strong government/technocratic team to push its ideas despite strong opposition from the public. This is actually not democratic capitalism which IMF wants to be seen as pushing but abject socialism. In socialism only we have seen super strong governments just pushing things at people’s throats irrespective of public opinion.

The same is happening in Europe as well. Ryan Mcmaken of Mises quotes from an article in NYT:

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Why India doesn’t need the sanitary napkin revolution? Myths and Reality

July 20, 2015

A fascinating article on how narratives are built to sell certain products. It is ironical that companies which sell products are actually not doing the same in their home countries. Sanitary napkins seem to be such an example.

Sinu Joseph, a hygiene counsellor, exposes many a  myth regarding this matter:

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16 deaths every hour: Indian roads claim the maximum number of lives in 2014

July 20, 2015

As India is still learning to build sustainable all weather roads, we are way off designing road safety measures. It is both amazing and horrific to see the callous approach of oiur authorities while building roads.

The end result is more and more road accidents and deaths:

Indian roads were at their deadliest in 2014 claiming more than 16 lives every hour on average. Over 1.41 lakh people died in crashes, 3% more than the number of fatalities in 2013. The numbers of crashes and of people left injured were also the highest levels since the recording of such data started in India—at 4.5 lakh and 4.8 lakh respectively.

According to the latest data released by the National Crime Records Bureau (NCRB), speeding and dangerous driving were the biggest reasons for road fatalities. Accidents involving two-wheelers and trucks & lorries accounted for nearly half of the lives lost in road crashes.

While 13,787 two-wheeler drivers were killed in crashes, 23,529 other people were killed in accidents involving these vehicles, while close to 1.4 lakh people were left injured in them. Over-speeding accounted for about 1.7 lakh crashes and nearly 49,000 deaths and dangerous/careless driving or overtaking claimed another 42,000-plus lives in 1.4 lakh crashes.

It is not that govt alone is responsible. People too are a part of the problem. Most who drive recklessly are overconfident of their driving abilities leading problems for both themselves and the other party in the accident.

Having said that, there is little doubt that road design can go a long way towards mitigating such accidents. Random roads come up from no where having no signs and instructions. Road maintenance is so so poor that people get killed trying to avoid some blackhole or the other.

Road accidents and deaths do not get the same negative publicity like other disasters. Only time road accidents are discussed is when there is a celebrity involved. But reality is roads kill far more people and happens at a fairly regular rate. They are actually increasing here. But somehow it continues to miss the attention it actually requires.


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