India at London, 2012

India's all time olympic medal tally

Since India made its debut in the Olympics in Paris in 1900 it has only ever won a total of 20 medals, nine of them gold of which 8 came from Hockey while Abhinav Bindra won our first gold in Beijing 2008. 2 of the medals in Athletics were actually to a British national in 1900. The age old debate has always been on how we barely manage to get one medal in a country with popluation more than 1.2 billion people. 

Blame it on our budgets or on our mindsets or both in this case. Any kid aiming to become an ace tennis player is frowned upon. A kid considering boxing is a maverick and someone who wants to make swimming as a profession is an outright outcast. We could argue that the tropical climate is a key reason why we dont get medals in Athletics. What climate do the Ugandans and the Kenyans live in? In 2008, China was the first in medals tally with 51 Golds followed by USA at 36 Golds. India was on rank 50 with 1 Gold medal. The Chinese got their first ever medal in Olympics in 1984. That year, their total tally was G:15, S:8, B:9 and were at rank 4 worldwide. This was their 2nd ever appearence. Despite various efforts to increase participation and victory in olympics in India, we have largely been unsuccessful. We need to invest more in sports infrastructure and supporting athletes and look beyond our sacrosanct sport - Cricket! I shall not delve into something that I dont have too much idea of. As an average Indian, I am agonized to see us get so few medals with so many people.

This year, I am rooting for the most medals for India as compared to previous years. I look forward to some of our athletes bringing back honors this time around.

1. The usual suspects: Abhinav Bindra, Susheel kumar and Vijendra Kumar (Collected a Gold in Asian Games in Guangzhou last year and a bronze in commonwealth, Delhi)
2. The resurgents:Saina Nehwal (Rank 5 worldwide, Quarter in Beijing 2008 and Gold in Indonesian open earlier this year beating the 3rd ranker)
3. The rookies: Gagan Narang (Silver in Asian games, 4 golds in commonwealth), Mary Kom (Currently tied at Rank 3 in lightweight category) Shiva Thapa (fly weight category) Deepika Kumari (Current Rank 1 in Women's individual recurve and Gold, common wealth 2010)

This is a only a list of some of them from an 81 member strong contingent. Hoping for a double digit tally!

FDI in Retail

If I think of all the stake holders getting affected in this decision and take a call on how it is going to affect each one of them.. Here is how the picture looks to me.

1. Large Indian retail chains: These are the guys who will probably be most affected. They are the ones who might be forced to make their supply chains much more leaner and cost efficient. They are the ones who will take the biggest hit from this "competition"

2. Small retail shops: The small kirana shops, if you ask me are safe. The same furore was there when the Indian retail was opened to bigger, organised players with deep pockets. However, today everyone plays on their own strenghts and have evolved, adapted

3. Farmers, Suppliers: Better bargaining power, better market for their products and might as well get some guidance (A win win). I dont see the possibility of any exploitation from the "deep pockets"

4. Politicians: Congress - Good move (long pending); BJP - Have to take up a fight to oppose it (Thats what opposition is for - protest without judging the merits of the move)

5. Consumers: We actually are the ones who are most profited as Prof. DTR pointed out.  We will be spoilt for choice now. We will see many more companies competing to provide better service.

6. Macro Economy in general: Now from a marcro economic perspective, This will probably create jobs in sum total. True, there may be some firms that might go out of business. However, the overall economy will restructure itself and I believe that overall, many more jobs will be created.

Overall verdict: I dont see too many cons of this move. Time and again, we have studied that the main problem that India faced in the Nehruvian era was Competition, or lets say the lack of it.This will only enhance competition and hence result in better service overall .. hence..  A definte and emphatic Yes!

The Indian National Anthem

Every time I have heard the Indian National Anthem, I have felt a chill down my spine. It erupts from a sudden gush of pride, belonging, awakening and may be a lot more. How many of us can proudly claim that they know the anthem word to word? How many of us don't observe that hint of awkwardness to stand up when the national anthem is heard nearby.

I still believe that the current generation who are in their 20s and beyond are doing marginally better than the kids. Is the pride for the country realised by all? Do they understand the Tiranga, the national anthem and our national heroes? Do you? I was not even surprised when a 10 year old kid exclaimed that the actor from "Lage raho Munna Bhai" was on the Indian 100 Rs. note. This incident is not an exaggeration but an awakening. May be its time each of us reflect on what this means to the generations to come. If we don't follow and teach, then some things will be lost forever. Jana gana mana.. should not be among those!

Outcry

The day after Mumbai blasts.. India was in a state of shock! Again! Lots going on peoples mind! Here is some of it..

Everyone is asking the same question .. What can I do? I pesonally am in search of the answer

"80 ppl stopped breathing in 8 seconds in an 8 square mile radius ..... Is this the India we wanted ?!"

"Stop this charade"

"Watever!!"

"Cowards Strike again"

"We are resilient by force...not by Nature !!!!!!!!"

"Fuck!"

"Crisis in Mumbai: When will it all end??"

The Indian tale of oil subsidy

Here are some facts about India's oil consumption:

The Situation*:

• India is the sixth largest consumer of oil in the world, using 2.6 million barrels per day, or 3 per cent of global demand
• India imports more than 70 per cent of its oil and charges retail consumers of petrol and diesel less than half global market prices
• At current crude oil prices, India's total fuel subsidy this year will be around 17.5 billion dollars, or 2 per cent of gross domestic product

The Numbers: If we see the numbers from 2002, petrol prices have risen by 86.8% where as diesel rose by 116.6%. However crude rose from 20$ a barrel to a whopping 140$ which is a 600% increase. So where is all the excess coming from? Ans: Government subsidies. It amounts to about 77000 crores of subsidies which are partially redeemed by Govt and the rest as losses on the books of public sector oil companies.

The Consequence: Inflation and rocketing fuel prices are almost directly as a result of this. The prices have not been passed on to the consumer. Instead, on the facet of serving the public or call it the fear of loosing the "Seat", the government has decided to bear the burden along with public sector companies like ONGC, HPCL.

From an economic perspective, passing on the costs to the consumer could result in higher costs of travel and hence greater inflation. However, such a prolonged burden on the government has sent the oil prices sky high and resulted in inflation. Such low cost of oil products also deters efforts to develop alternative sources of energy.

The Irony: Picture this situation - A guy comes in his 100CC moped, shells out 56 bucks per liter and curses the government for exorbitant oil prices. A Merc rolls by shells out the same 56 bucks per liter and the only thing on his mind is the scratch he got on his car because of a "stupid" motor-bike. Why should someone who can afford the luxury of a Mercedes Benz or any car for that instance be subsidized? Why should a guy who goes around with a fuel economy of 70KMPL be paying the same as a guy who goes at 5KMPL? What logical sense does that make?

The Solution: Given a subsidized price, the government is not offering a reason for anyone to avoid personal transport and switch to mass transit. No subsidy should be offered to those who use cars. Company cabs can be an exception. Luxury segment bikes also may not need a subsidy. Ex. 150 CC and below could be entitled to a subsidy. Unless the government takes some serious steps towards this, inequality will and so will inflation.

The Formality: Disclaimer: I am solely responsible for any of the opinions expressed.
* Source: globeinvestor.com