Mirror, mirror on the wall; can you choose between the two at all?!

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Amidst a thunderous roar of applause and an assemblage of sirens from all across the country, there’s always a deserving dark horse who comes out trumps – the mistress of the glittering tiara! But when there happens to be more than just one powerful contender to possess that covetous crown, history is created… somewhat like one craft ed way back in 1994, when equal degrees of intelligence, poise, allure and confidence walked down the ramp; when the two mesmerising maidens stung glory with their elegance extraordinaire!

Grace knowing no bounds in our cultural ambassadors, the Scorpion duo of Sushmita Sen and Aishwarya Rai (November 19 and November 1 respectively) have landed many a conventionalist’s foot in the mouth who seconded “in youth and beauty, wisdom is but rare,” as remarked Alexander Pope. Where Ash stole away a million hearts and the Miss World crown at Suncity in 1994, looking the fl awless nymph that she is, the very dynamic Titu (as Sen is lovingly addressed) repeated the feat at Manila the same year, albeit for a different crown, and together redefined the eminence of beauty pageants for Indians altogether…

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Education and E-Governance

QUALITY DOES NOT MATTER...

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In September 2006, the global rating agency Fitch gave a red-alert to the Indian banking sector concerning the escalations in the total loans being extended. This warning was a general fall-out of the huge rise in retail lending. Looking at the wonderful opportunities in this particular sector and considering it to be the sunrise sector for the economy, one could perhaps dismiss this particular report as a false prophecy. But then that’s not the end of the story.

On October 22, 2006, domestic rating firm CRISIL published its report on the credit ratings of various sectors in the Indian economy, which asserted that pressure on credit quality (a measure of creditworthiness denoting a bond issuer’s capacity to pay back the amount) is only on the rise and may deteriorate in the coming 18 months. G. V. Mani, Director, Rating Criteria & Product Development, CRISIL endorses, “Going forward, increased input prices, high capital expenditure and higher interest rates, are likely to accentuate the credit quality pressures on this sector.” Also, the rising interest rates have minimal chances of easing out in the near term. While on one hand, the Indian economists are going gaga over the developments in the manufacturing sector, it is this sector that carries the lowest credit rating, representing the greatest danger. According to this report, the Modified Credit Ratio (MCR which numerically represents credit rating) has dropped to 1.0 during April-September 2006 as compared to 1.05 during the corresponding period of the previous year. Traditionally, it was the farm sector that was on the top of the defaulters list of Indian banks (much of which can be attributed to priority lending to the farm sector) and did the early damage in late 1990s, when Non-Performing Assets (NPAs) of Indian banks were 15.7% of loans. But the CRISIL rating is related directly to quality depreciation in corporate lending, which should necessarily serve as a wake-up call for the Indian banking sector.

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

Mis’management education!

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One anomaly relates to the risible move of the IIMs in involving a third party like NIIT. Critics point out that it wasn’t long ago when premier institutions like IITs offered distance learning certificate programmes through questionable and shady outfits like CEP (in IIT Kharagpur), FITT (in IIT Delhi), and marketed them through a worse external outfit called ElNet-3L, which eventually turned out to be a completely fraudulent company, duping thousands of students and going bust consequently, ensuring a massive loss of face to the IITs. No doubt, the 25-year old NIIT’s name is much respected; but wasn’t it only around a year back that the much-hyped NIIT University, after negative court rulings, had gone into a limbo, and started operating in January 2006 under the new name of TNI from a ‘transit campus’ in Lajpat Nagar, a middle class residential locality in New Delhi?

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Source : IIPM Editorial, 2006, Arindam Chaudhuri's Initiative

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Future doomed

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Faulty irrigation to blame
Though India has walked out from the humiliating PL-480 food credits of the 1950s, the food security of the country stands to be severely jeopardised if the elements of environment sustainability are not immediately incorporated into our agricultural practices. Faulty agricultural practices led by large scale canal irrigation is ruining the future of the country.

Large dams and canals were considered to be instrumental in bringing the Green revolution in the country. But Bhakhra Dam contributes only 12% and 15% of Punjab & Haryana’s agricultural productivity. Even that would have been satisfying but for the existence of about 449,000 hectares of waterlogged land and 687,000 hectares of salt-affected area in Punjab alone. If that was not enough, the unsustainable ground water mining has brought nearly the whole of Punjab under the danger zone. Researchers have argued that around 43-46 % of the total agricultural production for Punjab and 35% for Haryana, is based on unsustainably mined groundwater.

It is high time we realise that these socalled success stories have been sitting on brink of disaster. The sooner they switch to environmentally sustainable models, the better it would be.

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...the truth is out (of) there…

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False history gets made all day, any day; the truth of the new is never on the news, or so remarked Adrienne Rich, acclaimed American writer. And with the legendary John Le Carré’s latest offering, The Mission Song, come to light once again the unsightly elements of greed, power and conspiratorial voracity that have perennially characterised the countenance of international political climate.

The backdrop this time is the troubled lands of Africa, and Le Carré’s narrative has as its protagonist Bruno ‘Salvo’ Salvador, described by those around as, “the natural son of a bog Irish Roman Catholic missionary and a Congolese village woman whose name had vanished for ever in the ravages of war and time,” who finds himself endowed with a penchant for languages as a child in Congo.

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