Showing posts with label Finance Minister. Show all posts
Showing posts with label Finance Minister. Show all posts

Wednesday, March 10, 2010

What's in a name?



A few days ago a gaggle of kids from my class, (IHRM- Minor), approached me for permission, to leave early to meet for their finance club activity. Apparently the club is called Prometheus after the Greek God, who goes by the same name.
This set me thinking…………because here is what we know of Prometheus!

Prometheus was the son of Iapetus who was one of the Titans. He tricked the gods into eating bare bones instead of good meat. He stole the sacred fire from Zeus and the gods. Prometheus did not tell Zeus the prophecy that one of Zeus's sons will overthrow him. In punishment, Zeus commanded that Prometheus be chained for eternity in the Caucasus. There, an eagle (or, according to other sources, a vulture) would eat his liver, and each day the liver would be renewed. So the punishment was endless, until Heracles finally killed the bird.

Considering that finance managers are expected to be ‘watch dogs of industry’, I thought it was a rather strange name to choose for their club, considering that his main activity seems to have been thievery and scheming!

Talking about names…………………………I have a few experiences, to share-

First, from my school, harking back to my 2nd standard.
There is this young kid, hair shiny with oil, standing with his head bowed, tears overflowing & staining his pale face, eventually dropping in big splotches on to his trousers. His crime- he had colored the beak of a parrot blue & had the audacity to be named as ‘Vidya Sagar’( Ocean of knowledge ), or so thought our teacher, who made him the subject of ridicule, much to our amusement. (How cruel can we be?) Vidya Sagar was never the same again!

My Principal at school was called ‘Mercy’, which was even stranger, as she slashed, whipped and struck her way through my eleven years at school, hitting everything in sight with a short, thick leather belt. I can still see her bulging biceps & glistening brow, in my mind’s eye, though I’ve ceased to shudder……………………………………& I'm sure many of my buddies have not!

My Physical instructor at school was called ‘Chiranjeevi’ (immortal), but the good soul did not live up to his name and departed rather prematurely, at a young age.

However, I’ve saved the best for the last! When we docked at Kolkata Port, a frequent visitor was one ‘Kachara Seth’ ( never got to learn his true name )……………………,who came on board to dispose our garbage. The gent looked really pathetic and wore the weirdest of clothes, added to which his manner was irritating, to say the least! I generally held my peace with him, thinking of how poor he was till, I learnt that he owned a couple of shops, at the ‘Fancy Market’ off Kiddarpore & also had a couple of houses in Kolkata. He was rich!

So then, what’s in a name?

Saturday, February 27, 2010

Boom or Bust?



In his presentation of the budget for 2010-11, the FM made a passing reference to the Port Sector and development of new ports. An allocation of about 16000 Crores has been made to fuel this endeavour.( http://www.telegraphindia.com/1100227/jsp/business/story_12157959.jsp )

One of the areas that our arm chair planners are looking at, to set up a new port is at Sagar,just short of where the Ganga ( Hoogly ), eventually melts into the Bay of Bengal.Should this happen, the river Hoogly, would then have three ports on her banks, at Kolkata, Haldia and now Sagar.

Kolkata and Haldia are in deep ( pun intended ) trouble because of the lack of navigable depth, caused due to rapid silting of the river, preventing large ships from sailing up/down the Hoogly. River maintenance is costly and time consuming.

The port at Sagar could preclude, this problem, but are there other issues.........

1. Sagar is an open sea area & would have little or no protection from storms & Tsunamis.
2. What would be the fate of Kolkata & Haldia, considering that crores of rupees ( of tax payers money) has been spent in setting up these ports.
3. Sagar Island is location for the famed Kumbhmela & considered holy by many Hindus.........would this be reconciled in the name of development.
4. What would be the ecological damage of port development, at a new site.

One such ambitious project has drained immense funds but failed to see completion is the 'Sethu Samudram Project', where a shipping channel is being created between Sri Lanka and India. The situation has turned into a political cesspool with a stand off between politicians in Delhi, Tamil Nadu & the BJP, on how a bridge constructed by Lord Ram, could be destroyed......................while many experts cry out in frustration that the project per se is not technically feasible & even if it does go on stream would require huge annual maintenance expenditure.In other words, a collosal waste of scarce national resources!

I hope the Sagar port project does not meet a similar fate, considering the shortsightedness that politicians can display......after all its my money as a tax payer, you see.