On September 6, 2008, India became the first nation of the world to get waiver from the NSG without singing the Non-Proliferation Treaty. Does it signify India’s victory? Or as said by the BJP leader, Yashwant Sinha, India has fallen into the trap set by the US? The answer may vary from person to person, based on the ideologies. The supporters of globalization can see it as an opportunity for India to become a part of the world’s nuclear group whereas hardliners can define it as another victory of the US to make India’s economy subservient to them. The Indian government had to wade through the hard waters on the issue, the Prime Minister even put his own chair on stake. Though the government sailed through it but what if it could not get home safely?Is this nuclear deal worth so much of risk? Will it truly make India a leader it longs to become? Or will we lose our freedom to go on the nuclear track as per our own wishes?

Indian Prime Minister Manmohan Singh’s Assam package has apparently put the greatest importance on developing education in the state. This northeastern state of India clearly needed a package like this. The package promises a world-class university, a petroleum technology institute and a national design institute for the state. The package also assures of the Central government’s support to the state in skill development among the youth of Assam. The plan includes setting up a model school in every development block of the state. In addition to these, the package pledges to help the state government to set up a science and technology university, a law school and a judicial academy.

            Now, a fast implementation of the projects is required to meet the objectives of the package.

The World Bank report released last Tuesday comes as a shock to Indians. The survey, based on the new benchmark of poverty line of a daily income of $1.25, claims that the number of poor people in India has gone up from 421 million in 1981 to 456 million in 2005. India, however, measures its poverty as per its national poverty line, which is $1.02 per day. Hence there is a difference between the two estimates. At the rate of $1 a day (as per 2005 prices) poverty has reduced from 42 per cent in 1981 to 24 percent in 2005. But, according to the World Bank report, percentage of people living below $1.25 a day dwindled from 60 in 1981 to 42 in 2005.

            The report has clearly stated that in order to achieve higher growth all inequalities in opportunities should be removed fast and the poor people should be involved in the growth process. It’s a wake-up call for all of us.

Indian IT major Infosys is set to acquire British consultancy Axon Group Plc. Infosys had been observed to be slow on acquisitions. The current acquisition is its third deal of the kind in three decades. But, with this deal it has been proved again that the IT majors of India are continuing to put a lot of emphasis on oversees acquisitions. TCS and Wipro are already on a similar spree. IT multinationals like IBM, Accenture and HP get an edge over their competitors because of their global delivery models. This helps in clinching major deals. So, an overseas acquisition generally helps an IT company to increase its consulting capability.

            The analysts feel that the Axon deal is “right-sized” and “right priced” for Infosys. They predict that the deal will strengthen the consulting business of Infosys, even amid global slowdown.

Dhoni and his boys made India proud again! The men in blue beat Sri Lanka by 33 runs to clinch a victory in the third ODI match of the five-match cricket series on Sunday at the Premadasa Stadium. With this win, India has secured a 2-1 lead in the series.

            Captain Dhoni led from the front, making 76 out of 80 balls. He won the man-of-the-match award. Suresh Raina (53) and  Rohit Sharma (32) supported him well. India scored 237 for 9 in 50 overs, while Sri Lanka was humbled at 204 in 49 overs. Zaheer Khan and Munaf Patel took three wickets each, while Praveen took two and Harbhajan and Yuvraj, one each. Jayawardene (94) was the highest scorer for Sri Lanka. Mendis took three wickets and Thusara and Kulasekara two each, for the team.

            This victory has added excitement to the Indian team’s tour of Sri Lanka. Now, the Indian team should make every effort to win the series, as it has already secured a lead.

The Sixth Central Pay Commission of India has assigned XLRI Jamshedpur to do a study titled “Estimating the Compensation Package for Government Employees and the Cost to the Government”. The object of the study is to compute in monetary terms all the benefits government employees get – both tangible and intangible.

            This certainly seems to be a good move, as very frequently the government employees are seen comparing their own salaries with the compensation package of private sector employees and pointing at variances. However, in private sector the overall package is calculated on a cost to company basis, where almost all benefits to the employees are taken into consideration. However, the government employees get a number of additional benefits which are generally not taken into consideration while drawing such a comparison. These may include pension, job security and other benefits.

            Hope, the XLRI study report will put to rest all such misconceptions.

After Abhinav Bindra, it’s Sushil Kumar and Vijender Kumar. India’s fireworks at the Beijing Olympics continue! Indians are probably making their biggest mark in the Olympics this time. Sushil Kumar’s bronze in the 66-kg freestyle wrestling and Vijender Kumar’s boxing medal at the quarter final of the 75-kg category ensured the continuation of India’s march of glory at the Olympics after Abhinav Bindra’s securing gold in air rifle shooting.

            It’s a moment of pride for every Indian. It also indicates how much the Indians are capable of achieving in the field of sports. The government should take measures to promote sports within the country in a bigger way and special attention should be given to hitherto neglected sports like boxing and wrestling.

This year almost 5.50 lakh visited Amarnath Shrine, the famed religious destination in Jammu & Kashmir, India. Dedicated to Lord Shiva, this cave temple is located at an altitude of 12500 feet. The number of tourists visiting this place has increased manifold-it was more than 4 lakhs in 2004. One has to traverse a 48 km long slippery road to offer prayers to the Shiva Linga made entirely from ice. The saddest part is that as many as 68 people died this year on way to the Amarnath shrine.

Recently, the shrine has come to the limelight on account of the Indian government’s refusal to return land belonging to the temple. Roads were blocked and train services disrupted by some of the major poliical parties to protest this act of the government. The Amarnath land row seems to have taken a nasty look, with people adopting violent ways to show their displeasure.

Inflation is the current threat for Indian economy and the country is feeling its heat severely. Inflation, after being controlled in the second half of 2007, has now returned with full vigor. Though the high inflow of capital, even in the middle of a slowed down US economy and the resultant financial turbulence all over the world, is beneficial in the long run, has posed an immediate threat to the economy which is expanding at a rate of about 8.5% every year.

            While the traders may experience a windfall gain as a result of inflation, the buyers generally have a tough time coping with the soaring prices of commodities. Since a time lag invariably exists between the production of a commodity and its sale, the shooting up of prices in the interval may open the opportunity of increased profit for the traders. However, for the buyers it is a development for which they are hardly prepared.

            The government needs to take immediate steps not only to contain inflation, but also to reduce the rising fiscal deficit. The sustained growth which the economy of India has been witnessing for the past few years coupled with its substantial foreign exchange reserve has placed it on a strong pedestal. The adoption of sound macroeconomic policies, recent reforms and possession of valuable human capital resources all indicate that India is in a position to contain the rising inflation without too much difficulty.

India is celebrating 62nd Independence day on 15th August 2008. On this occasion lets remember the words of Jawaharlal Nehru, India’s first Prime minister,s address to the constituent assembly in New Delhi at midnight on August 14, 1947. Nehru said.

“Long years ago we made a tryst with destiny, and now the time comes when we shall redeem our pledge, not wholly or in full measure, but very substantially.

At the stroke of midnight hour, when the world sleeps, India will awake to life and freedom. A moment comes which comes but rarely in history, when we step out from the old to the new, then an age ends, and when the soul of a nation, long suppressed, finds utterance. It is fitting that at this solemn moment we take the pledge of dedication to India and her people and to the still larger cause of humanity.

As one goes through these words, they just fit in place even now.

It is now more than 61 years of Indian Independence still we have miles to go.

We have achieved great strides in Information technology, Telecommunication, Industrialization, Quality of Higher education, Food processing etc.

But even today 20% of the population of India is not having 3 meals a day.  More than 40% of the population does not have basic education. We have good IITs and IIMs, but it is now becoming beyond the reach of lower strata of Indian society.

Agriculture even now is at the mercy of rain gods.

We need to innovate to use the technologies to our benefit.

The wish list is long, but as Rajarshi said in his blog  Independence day India Rocks on  if we have strong will, Nothing is impossible.