Well this was my presentation on public distribution system program in India. It is in support for paper written for International Public Affairs Association conference in SPEA. I will soon report the findings on this blog. Grad life is tough and maintaing a blog is tougher…so please bear with any delay.
If you arent waking up from coma, then you must probably be aware of the fact that this world is facing an economical meltdown, result of economical warming (when all eyes were set on global warming). Though Indian FM(ex) P.Chidambarm proudly says that all India is facing is slow down, not melt down, which means we are slowly tending towards meltdown, we arent there yet. Despite of his brave words, there is looming fear over me and lots of people like me, aspiring engineers who are galloped by IT industry of India which serves whole globe which is now melting (economically and climatically), so situation for my brethren and me is nothing but highly precarious. There is fear that this time many of us wont be that easily galloped as generations leading us are being puked out by companies, well this is not limited to IT but all the industries.
So after an year, the world outside the doors of industries will be filled by frehsers and puked out people. I can see light at the end of tunnel, though its looking like a dot, but then, we are running fast and will soon reach there. Still, problem isnt just on our side, even if we reach there, within a healthy time frame (which means, by the time I reach there, I am still having 2 time meals and breakfast), the other side is, will companies be able to shift their gears, and how will they manage to take their puke and new food (people like us – though stale). Few companies which are planning for dark days ahead will surely find it tough to take everything in, but I bet there must be few companies who are preparing for brighter and consolidated future ahead, and they will be ready to ingest the right mix.
While the mean time there are possibilities that I get into a company (electrical and related or IT and related) and just manage my spending and bank balance so that I emerge stronger at the end of tunnel. Then the other possibility is that I keep in this dark tunnel without a paycheck and still emerge out clean and healthy, on the same count I cant deny the fact that there are equal chances of me getting out of tunnel unhealthy and filthy. Then there is another option of entering into some post graduate course like management (which every second peer of mine it planning to go) and this situation will give me added two years where I will come out at the end of tunnel as my path will be slightly bypassed.
Of all these cases the last one is surely a good one, but there is still no economical future in all these years, which means, I will only be spending and not making money till this melt down solidifies and gives a new shape to this world economical order.
When Diwali can not solve market slump, then I know, there is a market slump. This is one of those market slumps, and incidentally one which might affect me in a big manner. Previous few, one the Asian free fall and other the Silicon Valley’s valley, were two which didnt affected me for two good reasons, one I was too young for them to affect them, second India as a nation was still developing, and now, I am at the verge of joining (within a 2 years) corporate sector, and at this very moment we have this slump, and India is in pre-developed state. So, settled on one thing that I have got this wonderful opportunity to learn, to have better and brighter future, while accepting the fact that things are going to get tough. But what took me off my foot is the speculative nature of this slump. Actually, as far as my wisdom goes, there is no particualr slump in Indian market yet, but due to media coverage of international happening we are just blinded by global facts which will affect us in different manner that they are affecting Western markets, but they way most of us are looking it as the slump is going to affect us in same manner, and thus we have self inflicted slump.
There is no major factor which could have affected our buying nature, but still it is different in bad way. People may say that inflation has ruffled our feathers in wrong way, but here again, it is stable at and around 11% and will certainly come down. What I forsee is inflation around 7% by march-april. But still if you ask that whether India is well placed or not, my answer would be no. Because two important parameters which could have certainly helped us arent there, agriculture is down and we do not have enought power. India is in dire need of a revolution in both the sectors, and it has to start now, yes in down slide. Because down slides consolidates market no other thing, and a consolidated market for agriculture is in way a benefit, you have less confusion, serious players which better insight, and strict regulations. With strict one must remember that I am not talking about closed economy, but an open strict economy. Same goes for power, but power is capital intensive industry, and since there is stringent fall in market liquidity and heavy speculation, solving our power woes will be tougher. On the other hand, solving out agricultural woes is also not easy as it will require mass movement and better technology and scientific application. But who said that solutions were going to easy.
Market is not liquid enough, so one positive thing…we wont catch cold, bad thing: we may die out of heavy water loss. As far as you diwali shopping is concered, go out and shop, slump is not for you but for Americans, and if you shop well, then slump wont touch you. This reminds me of a wonderfull saying, that more you let Lakshmi go, more it will come. So dont try and stop Lakshmi, let her go, she will surely come, and more importantly your nation needs Lakshmi more that you know. Just decide where she should go, and how much, just take measure of your bedsheet, and decide accordingly. Things are not that hot, only 3% of our total economy lies in share market, and mind you we are a big nation, let not Share market alone decide whether its Bear or Bull run, let this Diwali be Owls flight…when whole world is in darkness let India see the bright side with Owls eyes…
As a learner nothing could have been better than a down turn, because its only at down turn when you can see underpants.