Thursday, February 18, 2016

MUDRA, the Indelible Imprint

Modi's Mudra and the anti-national warped bureaucracy

Re: http://www.newindianexpress.com/columns/s_gurumurthy/Gurumurthys-Column-Indian-Economy-for-Dummies---I/2016/02/18/article3283431.ece
We have a vital piece of information and awareness generated by Gurumurthy in today's(18 February 2016) New Indian Express. 
Some extracts:
"Unfunded job rich sector
And where from then did the jobs and people’s livelihood come? The Credit Suisse study says that 90% of the total of 474 million jobs in India is generated by the non-corporate sector which contributes half the national GDP. The study labels this sector in global language as the informal sector. But it adds that unlike in the West, where the informal sector is largely an illegal sector, in India it is legal business which remains informal only because the government has been unable to reach out to it. The Economic Census [2013-14] says that some 57.7 million non-farming and non-construction businesses yield 128 million jobs.
The census classifies them as Own Account Enterprises (OAEs), implying it is self-employment.
The census finds that over 60% of OAEs are run by entrepreneurs belonging to Other Backward Castes, Scheduled Castes and Scheduled Tribes; more than half the OAEs and as much jobs provided by them are in rural areas; and nine out of 10 OAEs are unregistered. But this sector, which ensures both social justice and is rich in generating jobs, gets just 4% of its credit needs from the formal
banking system and the rest at usurious rates of interest. Here is a paradox. The banks fund corporates which add very little jobs. They are unable to fund the OAEs which generate ten times the jobs the corporates provide.

Mudra
"Mudra Financing Scheme for the Indian informal sector has devised an innovative method of associating existing large Non Banking Finance Companies providing finance to this sector as National and State Level Coordinators and the small ones as Last Mile Lenders. Without co-opting the existing non-formal finance players, the OAEs cannot be funded.

This innovative effort is being effectively thwarted by a warped bureaucracy —
Reserve Bank and the Department of Financial Services acting together. They are
effectively scuttling the new Mudra Law promised in the 2015-16 Budget to institute
the new financing model. Their objection is that if informal financing is formalised,
that would add to the systemic risk. Is allowing close to Rs 12 lakh crore sub-monetary cash economy sourced in black and illegal monies to operate and gain interest rates ranging from 24 to 360%, distorting formal savings, investment, and interest rates, not systemic risk? Will Raghuram Rajans and Department of Financial Services answer? Result, the Prime Minister’s Mudra finance scheme is being delayed, if not stymied by professionals who just want to keep their CV good for their career progress within the guild of economists."

So people within the Centre must wake up to the PM's efforts and implement the same NOW, a small step towards a normal way of life?


But the same PM is going ahead with nuclear energy programme which eats away into our energy production for the next thirty to forty years because of the energy that goes into the emergy and construction needs of the power system and thereafter 
the energy requirements for the storage of the nuclear wastes produced and then for decommissioning of the radioactive systems. The energy that is delivered to society outside the nuclear industry would be zero or even negative. This is an infinitely non-performing infinitely costly programme. Further the health effects are totally unacceptable. This therefore undoes all the efforts for Mudra and other efforts to build India. Modern civilization is causing its self destruction fully and cannot be justified. We should go over from a falsehood based modern civilization to a truth based normal civi;lization which respects nature.

See STOP NUCLEAR ENERGY PROGRAMMES: PROGRESSIVE DETERIORATION OF THE GENE POOL IN THE NUCLEAR AGE
http://plutoniumaradiumabillionpeoplehitdna.blogspot.in/2016/01/progressive-deterioration-of-gene-pool.html
And

Health Effects of Nuclear Power During Normal Operations


http://isisunveiledhenp.blogspot.in/2010/07/health-effects-of-nuclear-power-during.html 

The Bad Aibling train collision February 9 2016

Re:  https://en.wikipedia.org/wiki/Bad_Aibling_rail_accident

What is the equation between the consequences and the human error of this type? Since lives are irreplaceable after death the equation can never be satisfied. Thus having another safety level is imperative. It may be in the form of a locking system between two signalling operators who can operate the system. Simple.

Employment will be doubled and lives saved!
See also
http://self.gutenberg.org/articles/Indusi