Citizens' Issues
Education, health costs rose more than retail inflation: Assocham
Costs of education and health services have risen much higher than the retail, or consumer price indexed (CPI) inflation for September, the Associated Chambers of Commerce and Industry of India (Assocham) said on Sunday.
"With severe shortages of education and health facilities in the public sector, the middle class has to depend on private sector schools, colleges and hospitals and their costs have become quite high," the industry chamber said in a statement here.
"While the annual increase in prices of these services may not show huge rise, the base price of such facilities is so high that it is becoming increasingly difficult for a large number of people in cities and small towns to afford them," said Assocham secretary general D.S.Rawat.
He also urged that public expenditure on health and education be raised significantly, both at the central and state levels.
The Assocham study showed that prices of goods and services consumed on a daily basis are growing beyond the comfort level for most Indians.
Other items of middle class consumption like meat, fish, milk and milk products, have also seen significant price increase of between 5 and 5.5 percent.
India's retail inflation for September increased to 4.41 percent, from 3.74 percent recorded for the previous month, on the back of higher food prices.
Overall food inflation was higher in September, at 3.88 percent compared to 2.2 percent in August.
Contributing most to food inflation in September were pulses, which were costlier by nearly 30 percent, followed by meat, fish, milk and milk products, the CPI rates for all of which were over 5 percent.
"While the RBI has in the last instance reduced the policy rate by 50 basis points, the average transmission is not above 30 bps despite so much of prodding by the government and the Reserve Bank of India," Assocham said.
Disclaimer: Information, facts or opinions expressed in this news article are presented as sourced from IANS and do not reflect views of Moneylife and hence Moneylife is not responsible or liable for the same. As a source and news provider, IANS is responsible for accuracy, completeness, suitability and validity of any information in this article.


Anil Agashe was never afraid to speak his mind…Rest in peace, Anil
Nothing was impossible for Agashe and a job meant doing things honestly and completely
Anil Agashe, my friend, go in peace. You beat us in the end game. You always said that it would be great to exit without bothering anyone and just push off to the afterlife. Well, you are truly blessed. You got your wish. But, you leave behind some very dear friends and family who are shocked at this untimely exit and shall mourn for you. I know you will not like us to shed tears, but the human mind and heart are frail. Time does not always heal everything.
I met Anil for the first time, sometime in 1985 or 1986. I was a financial intermediary and he had joined the finance team of a company which was our ‘bread and butter’ client. That company never had a ‘finance’ person and Anil went about his job professionally. In less than a year, he had reduced the company’s dependence on financial intermediaries and set the company on the path to self-reliance, in matters financial. That was Anil. Nothing was impossible and a job meant doing things honestly and completely. We never had a fight and we used to exchange notes on various complexities in leasing or hire purchase or banking.  
After 1989, I totally lost touch with him. Moneylife brought us in touch. I next met him in the offices of Moneylife, about the time the magazine was launched. We exchanged notes on our lives and since Pune was my regular haunt, we have stayed in touch.
Anil and I exchanged notes on life. A lot in common. Being born, just a few months apart, he had completed his milestones faster than I did and had left the corporate world more than a decade earlier than I did. Pune University was smart enough to have taken him on as a Professor and the students who tutored under him would have been lucky to get lessons from a professor who was not at all academic but used his learnings from corporate life to give the students a first-hand experience of what life would be after college.
Music was something that was also a common thread that held us together. He had a phenomenal collection of Hindustani music. Our common favourites included Kumar Gandharva, Kishori Amonkar, Bhimsen et al. Of course, the seventies, eighties, nineties were the big common span that we traversed. Life had taught us similar lessons and we ended up with very similar values.
Anil was a rationalist. Disturbed by all that we see happening around us. He was sceptic enough to doubt everything, but never letting the scepticism coming in the way of helping others. Like anyone else, we had our views on everything from a cricket match to the way the monetary policy is being administered. He was cogent enough to put things in to words and put it on a blog. Go through his blog and you will know his passions. From history, economics, politics, sociology to Marathi literature. Anil was also blunt. Not for him the diplomatic approach. Never afraid to speak his mind. 
He also found the time and energy to write a few books. Anil has written and co-authored books on ‘Capital markets and Financial services’, ‘Management Control System’ and ‘ India and International Trade’.  
I have been to his classes on a couple of occasions and could see the strong bond that he created between himself and the students. I am sure that his students passed out with realistic expectations from life rather than unadulterated dreams. 
Anil and I go back a long way. We have shared thoughts, meals, drinks and lots more. Happy and content with life, he gave back more than he got, through his interactions with students over so many years.  My visits to Pune over the last few years were often created to give me an excuse to meet with him. We always met at the Deccan Gymkhana, where he was a member. He never wanted to come to an outside restaurant. If the objective was to spend quality time together, why not do it with minimum spend? A clear reflection on the times we grew up in.
I had spoken to him about a week about First Leasing Company. He had spent some time in his career with them and we talked about the recent developments. We also talked about a current politician who is now surprising us, given his track record in corporate India. We shared some interesting times I am fortunate that our paths met at several points, in our lives.
Yes, we did talk about investments. But not enough. Both of us knew enough promoters to be sceptic about stock market investing. For us investing was totally risk free. We knew we were taking chances with our money. I do not think that we lose money. Trading in the markets was never a big thing. We were happy with our Cummins and Crisils and left the rest to the others. 
Anil, hated being idle. His blog, the social media et al has been his outlets to convey his views and for reaching out to people. His visits to his village or to a holiday place were never complete without his sharing an anecdote or some photographs. 
I did not have the privilege of being introduced to his family. I am sure that they will have lots more to say about him. I am sure that his family will miss his calm and composure in dealing with the things routine or out of the ordinary. 
Anil has been lucky to exit this life in the way he wanted to. Without pain, without suffering. He could have waited longer to have his wish fulfilment. While he got his wish there are his near and dear who would have wanted his company for a longer period. 
Anil, RIP. Wherever you are, I am sure you will be busy sharing your thoughts.



Dr-Anand Wadadekar

12 months ago

I still can't believe that Agashe Sir is no more with us.

I am one of the fortunate students of his, while in Symbiosis.

We used to discuss about the financial system and other topics. His tweets are gems in itself. His FB posts are nothing but full of life and energy.

Thank you Agashe Sir for all that you gave me directly and indirectly.

Miss you Sir! RIP... :(

Dr. Anand Wadadekar
Founder Director & CEO
Discovering Careers India

Sagar Dehankar

12 months ago

I was Fortunate enough to have Agashe sir as our professor at PUMBA. He made, whatever he taught, interesting by adding these spicy real life anecdotes which also showed us what real life corporate world looks like. I continued to follow him on FB & Twitter.There are a lot things I would miss...His blog posts, his Twitter posts, his novel recommendations etc.

I was also fortunate enough to have him as our Branch customer when I was working with HDFC bank back in 2007-09. It was always a pleasure meeting him.
His glimpses will continue to be seen through those of us trained by him, knowingly or unknowingly,for many years to come.

I am reminded of a rhyme from the movie Mr. Deeds which I would like to mention here

We never hung out and that makes me sad.
All the good times we could've had.
But when I die, Agashe Sir, you better say "Cheers".
Cause when me and you are hanging at the pearly gates,
I'll bring the beers.
I'll bring the beers.

Sagar Dehankar
PUMBA 2004-06

Sidhardha Katta

12 months ago

I am very fortunate to listen to Anil sir's lecture in Bangalore here in Wipro as a part of an Executive MBA program on 18/10/2015.

Although it was just half day lecture every word he spoke had an everlasting impact on me.

Sadden to here this as we as class are waiting for his next lecture.

Thanks SIU PUNE for the opportunity and WE MISS YOU SIR.



12 months ago

I was student of Agashe sir in PUMBA. I learnt to share thoughts and experiences from Agashe sir, so cud not resist myself sharing one of my experiences with him.

I just can not forget the presentation we did on the TOPIC "Denationalisation of banks in India."

I was trying hard to explain my point which he was not convinced with...but at the same time, i observed that he was very keen and curious to understand what i was trying to explain, and surprisingly he agreed on some of points.(class vs mass banking and all) Besides being a orator and mystic communicator, i realised that he was a great listener also. That day I learnt this great quality of being a good listner..which i am exersizing now in my corporate life...!
There are many things to share about him, his range of post right from Viren sahwag, to disinvestment, to his visits to places, to sharing thoughts on pune's very own "Appa chi khichdi" and many more...he had his own view on everything and he loved to share that on social and other media.

Now, this is a great loss for all of us...we will miss u sir

Sandeep kule
PUMBA 08-10

Calling Card Companies in US Fined $30M for Misleading Consumers
The Federal Communications Commission-FCC says advertised minutes had an impossible stipulation
For many immigrants, keeping in touch with family and friends in the old country is important. But there’s only so much you can say in a single phone call. 
The Federal Communications Commission (FCC) has fined six companies a total of $30 million for misleading consumers on the minutes their prepaid calling cards actually offer. According to the agency, the advertised time on the cards could only be fully used in the span of a single phone call. Multiple calls delivered “a small fraction” of the hundreds or thousands of minutes advertised.
The calling cards lined the shelves of newsstands and grocery and convenience stores and typically sold for $2, $3 and $5. The FCC said the companies, each of which was fined $5 million, also failed to adequately disclose all pertinent charges to consumers. The agency said they targeted ads to immigrants.
“Consumers should not have to comb through small print and contradictory disclosures to learn that the bold promises made in advertisements are false and misleading,” said Travis LeBlanc, chief of the FCC Enforcement Bureau, in a statement.
How much these companies profited at the expense of consumers is a mystery. Earnings are redacted in each companies’ forfeiture order and an FCC spokesman said the information is confidential. The fines go to the Treasury Department.
Find more of our coverage on scams that target immigrants here


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