Featured Articles
What Is To Be Done to revive the Indian Economy! Franc o - Frank
In spite of Public Sector Banks doing a yeomen services, disbursing direct benefit transfers, Insurance schemes, all Govt schemes and lost more than 1300 employees, NITI AAYOG is still talking of Privatisation which is going to lead to disaster. In the last 7 years of NDA, the NPA has gone up to Rs.1143354 Cr out of which major component is large loans.
What is needed now?
Ask Banks to increase branches and staff and lend more to poor and lower middle class at concessional rate of Interest. Loans below Rs.5 lakh will make a lot of difference.
Bear the Interest portion through interest subvention and reintroduce Interest subvention for Gold Loans.
Allow restructuring of existing Loans where it is needed. Except large loans above Rs.100 crores, all loans to be restructured case by case.
Launch special long term loans for Health infrastructure, Housing, MSMEs, Youth, Women and Farmers.
Announce that No Privatisation of Banks in near future and 5-day week for Bankers which will enthuse and energize them.
Introduce Super Rich Tax.
Reduce prices on Petrol, diesel & Gas helping people to spend on other things.
Provide Rs.7500 to those who are not taxpayers per month for 6 months.
Recruit more people in Govt, Public Sector undertakings and Banks.
Above all, accept mistakes and dismantle Aniti Ayog and introduce a Development Council with well-meaning people as done in Tamilnadu by the new Chief Minister.
Thomas Franco is former General Secretary of All India Bank Officers’ Confederation.
The WhatsApp move to sue the Indian government is a red herring
The WhatsApp move to sue the Indian government is a red herring https://www.moneycontrol.com/news/opinion/the-whatsapp-move-to-sue-the-indian-government-is-a-red-herring-6948131.html MONIKA KRISHAN MAY 27, 2021 While user actions are constantly being tracked, recorded , quantified and analysed, AI companies (eg: Amazon Web Services) remain notoriously secretive about the processes.. States push for rapid AI development across multiple domains of civilian and defense applications, the prospect of an AI-dominated world looms large. An AI-dominated world would essentially be an AI-Corporation-dominated world ..The use of cloud systems to store vast quantities of both civilian and defense data would make states even more vulnerable to corporate nudging...
If democratic states and indeed democracy is to survive it would do well for nations to: a) resist the temptation to place all their intellectual and economic eggs in the AI basket, b) renew their vows to uphold the principles of democracy so as to build deeper ties with their citizens based on mutual trust, and c) work together to encourage tech companies to adopt a more inclusive and evolved standard of engagement with customers
Comment: political institutions must address the threat that state power itself poses to the liberty and security of individuals..
To meet this threat constitutional government is the principal institutional instrument. Constitutional government is to be limited through a combination of public rules delineating the boundaries of legitimate state authority (rule of law), devices for fracturing state power to keep it from transgressing those boundaries (federalism, separation of powers), and arrangements for monitoring government conduct for possible transgressions (judicial review, legislative supremacy).(https://www.humansfuture.org/politics_power_abuse.htm )
Since Artificial Intelligence and Data Sovereignity is also power, there is need to seperation of powers between Corporates, Government and other democratic systems; due process and procedures. Most important the user or the citizen should be the primary focus of decision making. So while it is fair that the Platforms take a decision about content in their own platform, but when the platforms reach of position of power by becoming the vehicle of free speech, it should follow the basic principle that :justice must not only be done it should be seen to be done. Unfortunately, both State and Corporate prefer back-room dealings, so that each can serve their own power: the former - political and the latter commercial. Thus the third sector.. namely the "people sector" or civil society must have a bigger role in the new dispensation ( fact checking sites, algorithyms for example have become an important vehicle of civil power ) . Unfortunately here also we have seen, corporates, the media, as well as government conspiring to limit this empowerment. For example the recent closure of the Amnesty International in India has not shaken the democractic consciense of the judiciary as well.
The middle class and the media has cried hoarse about the "law of the land" forgetting the dictum the father of the nation gave us.. https://www.crf-usa.org/black-history-month/gandhi-and-civil-disobedience When the Boer legislature passed a law requiring that all Indians register with the police and be fingerprinted, Gandhi, along with many other Indians, refused to obey the law. He was arrested and put in jail, the first of many times he would be imprisoned for disobeying what he believed to be unjust laws.
While in jail, Gandhi read the essay “Civil Disobedience” by Henry David Thoreau, a 19th-century American writer. Gandhi adopted the term “civil disobedience” to describe his strategy of non-violently refusing to cooperate with injustice, but he preferred the Sanskrit word satyagraha (devotion to truth).
Page 45 of 46