Citizens' Issues
Govt seeks review of Supreme Court's verdict on homosexuality
The union government contended that the Supreme Court arrived at various conclusions which are contrary to well-established canons of law as laid down by this court
 
The Indian government on Friday moved the Supreme Court with a review petition seeking re-examination of its verdict on Section 377 of Indian Penal Code (IPC), reviving the penal provision making gay sex an offence punishable with life imprisonment.
 
The review petition contended that the 11th December judgement of the apex court setting aside the Delhi High Court verdict decriminalising sexual intercourse between same sex of consenting adults is unsustainable.
 
The Centre’s petition settled by Attorney General GE Vahavati sought that oral arguments be heard in an open court before disposing of its review petition.
 
The review petitions are generally decided in chamber hearing.
 
In the petition filed through advocate Devdutt Kamath, the Centre has taken 76 grounds to contend that the judgement passed by Justice GS Singhvi (since retired) and Justice SJ Mukhopadhaya 'suffers from errors apparent on the face of the record, and is contrary to well-established principles of law laid down by this court enunciating the width and ambit of Fundamental Rights under Articles 14, 15 and 21 of the Constitution'.
 
While setting aside the 2 July 2009 judgement of the Delhi High Court, the Supreme Court had held that Section 377 (unnatural sexual offences) of the IPC does not suffer from the vice of unconstitutionality and that the declaration made by the High Court is legally unsustainable.
 
The review petition filed by Ministry of Home Affairs said Section 377 of the IPC, insofar as it criminalises consensual sexual acts in private, falls foul on the principles of equality and liberty enshrined in the Constitution.
 
“It is further submitted that Section 377 which criminalises intercourse ‘against the order of nature’ is a reflection of outdated sodomy laws of the United Kingdom which were transplanted into India in 1860.
 
“They do not have any legal sanctity and in any case are unlawful in view of the constitutional mandate of Articles 14, 15 and 21 of the Constitution,” the petition said, adding this court has held that “a statute which was justified when enacted could, with the passage of time, become arbitrary and unreasonable.”
 
Further, the Centre contended that the apex court arrived at various conclusions which are contrary to well-established canons of law as laid down by this court.
 
“The Union of India, in the present review, will deal with each such conclusion to show errors apparent on the face of the record, being wholly contrary to well-established canons of law,” it said.
 
While assailing the verdict, that came under attack as being “medieval and regressive,” the review petition said the submissions of the Centre made during the hearing of the appeal that the high court’s judgement did not suffer from any legal infirmity were not at all considered by the apex court.
 
“The Union of India, through Ministry of Home, had taken a categorical stand at the time of hearing of the appeal before this court that there was no legal error in the judgement of the High Court dated July 2, 2009, and, therefore, no appeal was filed by the Union of India against the said judgement,” the review petition said.
 

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COMMENTS

Abhijit Gosavi

3 years ago

The LGBT community should have the same rights as straight people, and they should be able to lead dignified lives! This is 2013 --- not my grandfather's era. Indians need to open their minds.

ABHA CHAWLA MOHANTY

3 years ago

MEDIEVAL AND REGRESSIVE..?,ARE WE AS NATION OCCUPIED WITH "REPRESSIVE"... ALL TIME FREUDIAN RELEVANCE......!!

ABHA CHAWLA MOHANTY

3 years ago

MEDIEVAL AND REGRESSIVE..?,ARE WE AS NATION OCCUPIED WITH "REPRESSIVE"... ALL TIME FREUDIAN RELEVANCE......!!

RBI proposal reveals the magnitude of bulging NPAs

The forthcoming regime of corporate debt restructuring –CDR may be more lethal, and borrowers may only shudder at the prospects of their account having to be restructured

The RBI’s just-released discussion paper on  Early Recognition of Financial Distress, Prompt Steps for Resolution and Fair Recovery for Lenders: Framework for Revitalising Distressed Assets in the Economy is, right perceived, a frank admission of the mammoth problem that Indian banking industry is currently sitting on – the spectre of lots of actual and potential non-performing assets (NPAs). Actual NPAs may still be manageable, but the potential NPAs may be a huge problem.

 

The discussion paper was described as a carrot and stick, but on balance, it is more of a stick against the borrower, rather than any carrot. The forthcoming regime of restructuring of corporate debt may be more lethal, and borrowers may only shudder at the prospects of their account having to be restructured.

 

The following are main proposals of the RBI:

 

Special Mention Accounts

The Discussion Paper proposes that in addition to non-performing or substandard accounts, banks will identify a new category of Special Mention Accounts, called SMA. SMA itself is further classed into 3 classes – SMA-NF, SMA-1 and SMA-2. While classification into SMA-NF is based on non-financial information such as sales/operating profits dropping by 40% or more, return of three or more cheques over a period of 30 days, and so on, SMA-1 is based on principal/interest overdues of 31-60 days, and SMA-2 based on principal/interest overdues of 61-90 days.

 

The RBI will set up a Central Repository of Information on Large Credits (CRILC) – an entity to keep track of “large credits”. The RBI’s definition of “large credits” is not really large, as accounts with a fund and non-fund exposure of Rs5 crore, and current accounts with an outstanding balance of Rs1 crore will be covered by the CRILC system. Where an account reaches SMA-2 status, banks and larger NBFCs (systematically important NBFCs) will report the account to CRILC.


Joint Lender’s Forum

The reporting of an account to CRILC by more than one bank/NBFC will also trigger the formation of a Joint Lenders’ Forum, if the total fund-based and non-fund based exposure is of a size of Rs100 crore or above. Banks/NBFC do have the option of forming a JLF even for exposures of less than Rs100 crore. The JLF will work under a JLF agreement, either under the leadership of the consortium leader, or the lender having maximum exposure, and will try to work around ways to ensure that the borrower comes out of the stress.

 

Corrective action plan

The JLF will frame the corrective action plan (CAP). The CAP may include case-specific solution to the problem – rectification, recovery or restructuring. Rectification is the corrective action taken by the borrower, without either a restructuring or recovery action. If the JLF comes to a view that additional equity investment may have to be brought in to keep the account performing, the JLF may prevail upon the borrower to do so.

 

The next alternative is restructuring. This seems to be the replica of the existing CDR mechanism, and one of the downsides of the Discussion Paper is that duplicates the CDR mechanism with the JLF mechanism. Restructuring under the JLF works exactly on the same basis as in case of CDR – with an inter-creditor agreement, debtor-creditor agreement, recovery of sacrifice, non-disposal of assets by the promoters, and a stand-still clause whereby the lenders agree not to take any coercive recovery action during a certain period. Presumably, all lenders will anyway be a part of the JLF – hence, subjecting the restructuring to a decision by the CDR Cell seems to be further burdening the already-burdened CDR framework.

 

Not only has the Discussion Paper retained the overlapping roles of the JLF and the CDR cell, it has mandated an independent evaluation committee, called IEC, to assess the techno-economic viability of CDR proposals involving debts of Rs500 crore and above.

 

If restructuring fails, recovery follows. The JLF may decide upon the best and most effective recovery action. The recovery action is to be decided by a vote of creditors forming 75% in value, or 60% in number.

 

The JLF has a time-bound brief.  It has a maximum time frame of 60 days for finalising and signing off on the corrective action plan.

 

Sting attached to corporate debt restructuring

Corporate debt restructuring may, henceforth, not just be a breather to the company – it may come with coercive covenants such as transfer of promoters’ equity to the lenders, lenders causing issue of shares to themselves to the extent of their sacrifice, and so on. In essence, we may be back to the era of “convertibility clause” where lenders could cause their loans to be converted into equity and thus dilute the stakes of the promoters. The RBI sites the principle of skin-in-the-game to justify the forced sale or dilution of promoters’ equity – how would conversion of a loan or loan sacrifice into equity ensure any skin-in-the-game on the part of the promoter is not coming clear at all. On the contrary, when a loan is converted into equity, the very obligation to repay the loans gets erased.

 

Hang the auditor

The current regulatory mood of hanging the auditor, when things go wrong with a borrower, seems to prevail upon the RBI in the Discussion paper as well. The discussion paper says that banks must strictly adhere to RBI instructions about filing complaints against auditors where auditors seem to have engaged in falsification of accounts, stock statement or end-use statement etc. However, it does not seem to trust the disciplinary mechanism of the ICAI. It says, even while the disciplinary proceedings before ICAI are pending, the names of the CA firms against whom many complaints have been received from different banks may be flagged for information of all banks. Banks should consider this aspect before assigning any work to them. The names may also be shared with other regulators/MCA/CAG for information. In essence, the auditor is penalised by the banking system merely based on complaint, and not based on actual establishment of a case of breach of discipline by the auditor.

 

Strengthening the ARCs and the DRTs

The two of the legal institutions currently available to banks for coercive recovery action are – sale of NPAs to asset reconstruction companies (ARCs), or recovery action through debt recovery tribunals (DRTs). The discussion paper proposes several reforms of the current regulatory framework applicable to ARCs as well as DRTs.

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COMMENTS

nagesh kini

3 years ago

I entirely agree with Mr.Gopalakrishnan.
The RBI remedy is a shade worse than the ailment - it seeks to cut the head to cure a head ache!
The menace of NPAs is essentially man-made - all the wilfull defaulters are big ticket politically powerfull who are granted large limits based on fudged accounts and unattainable projections - they dio not contemplate repaying from day one. The branches know this for certain and it simply goes on and on. The CDR is another massive fraud to provide them with an extension by not classifing them bad by calling the exercise 'evergreening' the first step at back dooor write off.
The only solution is a massive shot gun treatment! Nothing short of it! Or less God help Indian Banking!

REPLY

Peter Armand Menon

In Reply to nagesh kini 3 years ago

Dear Mr. Nagesh Kini & Mr. Gopalakrishnan TV,

Pardon the trite idiom, but "it takes two hands to clap". In this case, the NPA is the result of
A. A Bank Officer who demonstrates (1) Carelessness (2) Due Diligence and
B. A Borrower who (1) Has dishonest intentions at the outset (2) Who is honest and diligent but the victim of difficult or impossible circumstances.

This leads to a vast variety of NPA Contexts and unless an Independent Agency examines the NPA genesis, no correct action can be taken.

The core issue is that when and if necessary, both the careless Bank Officer and the Dishonest Borrower must face some form of legal/punitive action.

Gopalakrishnan T V

In Reply to Peter Armand Menon 3 years ago

I request MR Menon to go through the book on Management of Non Performing Advances published by Indian Institute of bankers in the year 2004. The book based on a well appreciated thesis on a study of NPAs in public Sector banks carries a foreword by Dr Rangarajan,the presnt Chairman, PMEAC. The book carries a statistical model by way of a solution to discipline the banks and borrowers simultaneously without giving any scope for manipulation by the usual ttrade off between the Banks Board and Auditors.The solution if implemented will help the prevention of formation of NPAs through proper sanction, regulation , monitoring and supervision. Mr Menon can have a copy of the book from Indian Institute of Bankers, Mumbai.

Peter Armand Menon

In Reply to Gopalakrishnan T V 3 years ago

Mr. Gopalakrishnan,

My observations are not relating to the loan application and the process that leads to granting of the loan. What you advise will reduce the incidence of NPA's.

My observations relate to after the NPS has been created. What does the system do then ?

Dayananda Kamath k

In Reply to Gopalakrishnan T V 3 years ago

i would like to narrate a small episode of recovery at rural branch in kanataka during 1980s. the branch had a advances in irdp dir schemes the govt sponsored schemes.the manager used to give a small lecture to the borrower before the loan proceeds is disbursed to the borrowers. this a loan and not charity this has to be repaid. it is given out of the deposits from fellow villagers and if it is properly utilised and paid back everybody will benefit and he too can get higher loans. we used to keep track of borrowers through personal contacts as well as their friends. so if one instalment or interest is delayed every staff who evr meets him or his friends will remind him about repayment due. and we had a good recovery in these schemes also. when the due is small you persuade him to pay whatever he he can they will pay. but if you do not follow up and when the amount has become huge he will not be able to pay at one go. and he thinks already so many months they have not bothered and they may not bother for another two three months even if i dont pay. and bank as borrower will be the looser in this process. this personal touch is missing now. that is why npa andgovt too have contributed through its policies.

nagesh kini

In Reply to Peter Armand Menon 3 years ago

Mr. Menon you seem to have overlooked the chronic wilfull defaulters who use the top managements to pressurize the lower echelons to disburse the loan.

Peter Armand Menon

In Reply to nagesh kini 3 years ago

Agreed. That means there is one more possible culprit class to add to the culprit list. Thanks for pointing this out.

Gopalakrishnan T V

3 years ago

The present proposal of RBI to contain the menace of NPAs is expensive, cumbersome, time consuming and will prove to be a remedy worse than the disease. In fact the willful defaulters will welcome this as they will get more time to dodge and enjoy. Further, this remedy does not intend to discipline the banks in any way.NPAs are basically the creation of banks and they entertain such borrowers who have no creditworthiness, competence, character and the required credentials to run some business is a well known fact. Some of the NPAs are
ab -initio NPAs,approved by the Banks Board and they are eventually written off after some lapse of a reasonable period.The RBI should ensure that both the Banks and borrowers adhere to some discipline to have a healthy Credit portfolio and in case they violate and banks' economy's get affected by the poor performance of the borrowers, they deserve to be penalised. A self correcting mechanism under the supervision of RBI without expecting other stake holders of banks and economy is what is required and it should be possible by introducing a levy from banks and borrowers for their lapses in building up a very healthy credit portfolio. The present system of cross subsidisation of bad borrowers by depositors, good borrowers and tax payers should come to an end.Bad borrowers cannot be allowed to have banks money for their luxury and comforts.

REPLY

Dayananda Kamath k

In Reply to Gopalakrishnan T V 3 years ago

restructuring can be done on their own by the banks when they observe tends of npa.a bank entereda consortium at the request of the customer. other bank agreed because they thought their npa will be reduced. but the borrower used the money of both the banks. and he was in real trouble because of riots during indira gandhi murder and he is aumotive spare parts manufacturing company and most of his customers were sikh. when as an auditor when we visited his factory we discussed with the situation and his plans for repayment/ regularisation of the account.he said if his usance bills are allowed to be discounted which are drawn on his other firm which is acutally marketing his products and his entire production is sold through them. he can reduce the iablity gradually. his benefit is he will save on overdue interest of 2% on the loan. and 1% lesser interest on bill discount limit. even if the bill was not to be honoured on due date bank will not loose anything as the overdue bill will be debited back to loan account. but it is honoured you have recovered the amount he offered rs.2lks every month when proposal was put to higher authorities is it violates rbi norms of related concerns. but we emphsiised that since goods are sold diretly to the firm as since beginning it is a genuine transaction. and now our concern is reovery and we will allow it on trial basis. and they approved it. and you may not believe for six months the arrangment went well and rs. 12 lakhs recovered and the regional manager as wll as branch manager changed/transfered and new incubents discontinued it quoting rbi regulations of copanies of same groupe. and repayment stopped and finally bank wrote of a huge amount after 4 years. if you have the will you can recover.

Peter Armand Menon

3 years ago

Let us say that there has been a "System Failure" and all due processes have created a situation where there is an NPA. What then? What about the people who took the money and created an NPA?? Do they go scott free?? because that is what happens today. Might it be worth penalising borrowers who created NPA's with serious financial/criminal stringent punishments? How do we make the borrowers more responsible? After all, the banks are lending on "The borrower's demonstration of confidence in the productive use of the funds".

REPLY

Dayananda Kamath k

In Reply to Peter Armand Menon 3 years ago

today the maphsis is given in lending than recovering because lending will increase your balanse sheet size. and govt through various schemes of debt relief has made the borrowers recalstrient hoping they will get the relief.because in these schemes who pays promptly will be the looser. banks also grant reclessly to such schemes. only when regulator, govt is serious about these issues and book the guilty the system will improve.

Yerram Raju Behara

3 years ago

The suggestion of mr K. Venkataraman, an experienced banker himself deserves immediate consideration by the RBI and the Ministry of Finance who shed tears over the bleeding NPAs in the banking system. Second, there are various types of audits prevalent now: internal audit by the department officials within each institution, vigilance audit; concurrent audit; statutory audit and regular inspections and management audits among the larger banks. Why the CAs who annually audit alone should take the blame when the whole system of audits perpetrate it? How these NPAs originated deserves to be looked at for making corrections instead of making a wild goose chase. In fact banks' due diligence process took a beating with the arm chair and system based lending initiation. Banks would be well advised to go back to the basics to correct the malady instead of aping the western models of credit risk management.

REPLY

Dayananda Kamath k

In Reply to Yerram Raju Behara 3 years ago

when auditors are hounded and punished with active connivance of cvc, rbi, ministry of finance, primeministers office,presidents office who actually holds the equity in nationalied banks in trust on behalf of people of india for bringing out irregularities, and the karnatka high court uphelds and allows the bank to terminate the service for being stickler for rules.what you can expect in this country.

nagesh kini

In Reply to Yerram Raju Behara 3 years ago

Agreed Mr. Behara, the auditors after all conduct a post mortem pure and simple. The rot is more deep rooted - beginning to stink the moment the loan is processed under top level - incl.MOF pressures - without due dligigence on fudged accounts and projections and the same pressures preventing the banks to initiate action on defaults.

SuchindranathAiyerS

3 years ago

Six decades of Social and Capital Engineering has left its inevitable mark on this as every other field of Indian "endeavour". The rentiers of India's Neta-Babu, Quota-Corruption Raj continue to triumph over India's serfs as they loot, plunder and rape with remarkable persistence and consistency! India's inexorable and grotesque Constitution and laws that slice and dice "justice" by community, religion, caste, tribe, gender, station in life, distance from power and station in life may keep it so for all time. I resigned from State Bank of India in 1983 as Officer on Special Duty (Long Range Planning) when the depredations of the UPSC trade Union represented by the Pillai Committee and quotas for recruitment and promotions turned SBI into another Sarkar ki Sampathi PSU Latifundia and the piracy of the Khangress Party fomented by Indira Gandhi with storm troopers led by Janardhan Pujari began to destroy the vitals of the Banking in India.

REPLY

nagesh kini

In Reply to SuchindranathAiyerS 3 years ago

Read "Barons of Indian Banking" how SBI decline started withSanjay Gandhi interference.

venkataraman k

3 years ago

NPAs are the talks of the day. the institutions are carried away by the press reports who indirectly induce the lenders to part with the money. if you analyse the financials of these SPVs of large projects, the stake of the promoters are minimum. for example take telecom sector, look at the revenue generated by these companies. 40 crores mobiles users and just one call/mobile/day. 40x30x12? for the past 10 years.14400 crores, but these companies default. Just like TDS mechanisam if 10 paise is recovered per call there will not be any default. so in the HIGh WAY PROJECTS, the recovery for every toll collection along with service tax, there would not have mbeen any default. so with the powerm generation. consumers are not defaulters and it is only the service provider defaults. if the recovery mechanism is linked to the source of revenue, i think there will not default. As a banker i tried this with the loans given to small vendors and the recovery is made daily, recovery was to the extent of 90%. the default percentage is less than 1%. if the recovery is linked to the source of revenue which has the element of profit with which the repayments are made, then where will,be the default. as most of the business is cash and carry the procedure can be very well implemented. will the authorities have the guts to implement?
venkataraman k

nagesh kini

3 years ago

It is not just merely 'hang the auditor'. It is a fact that NPAs primarily arise out of fudged financial statements and feasibility studies or projections intentionally attested by the auditor, is a party to the fraudand ought to be issued a show cause along with the promoters. ICAI mechanism are long winded.

Peter Armand Menon

3 years ago

NOTE: There is absolutely no action defined with respect to the Directors or the Decision Makers who were responsible for creating the NPA. This is plain bad management. If the chap creating the problem does not get a serious rap across the knuckles or his sweet batooties - there is no question of reforming or remediating his/her actions. This sounds clearly like a Banking Bureaucrats notion of "Taking Action" :))))

Peter Armand Menon

3 years ago

NOTE: There is absolutely no action defined with respect to the Directors or the Decision Makers who were responsible for creating the NPA. This is plain bad management. If the chap creating the problem does not get a serious rap across the knuckles or his sweet batooties - there is no question of reforming or remediating his/her actions. This sounds clearly like a Banking Bureaucrats notion of "Taking Action" :))))

Dayananda Kamath k

3 years ago

it is measure to drive out genuine borowers from bank finance.when dhabol project zoom builders, diamond merchants accounts are managed npa by rbi itself by changing norms.what these additional measures will do except may be giving new products to be developed by it companies.when audit reports are ignored and brought to their notice if rbi is not acting then what is the use of such actions. it is only playing to the galery and nothing else.i have a complaint registered with disciplinaery authority of indian institute of chartered accounts and all the auditors who audit banks for their dreilection in duty. pending since last 8 years.

Uncertain gas production making us to depend on imports

For the time being, until the new wells start gushing out the gas, we have no alternative but to continue our dependence on imports

Although systems are in place for continuous exchange of information on

actual production of natural gas on a daily basis, the fall in production, and the lack of adequate action to drill new areas to discover oil & gas have been explained away as a geographical surprise. But there is more to the story.

 

Sashi Mukundan, regional president and country head, BP India, has mentioned that two significant discoveries had been made in the deep waters and exploration effort was underway to unlock the next major hub for development in the east coast. He expects that this new discovery should be able to get anything between 40 to 60 mmscmd of gas.

 

According to the Petroleum Ministry, the new gas discovery in the Krishna-Godavari (KG) basin is the "biggest ever" and it has been named as D-55, which was announced in May this year. At least $7 billion worth of investment by Reliance has been approved in these new fields, as stated by Minister Moily. He felt that this discovery will easily offset the falling output in KG-D6 block.

 

In the meantime, Reliance Industries Ltd (RIL) has also shown its willingness to give the bank guarantee to get higher gas price from April 2014. Currently, the supplies are being priced at $4.2, while from April 2014 this is likely to increase to $8.4 per mmscmd. The bank guarantee option will eliminate the prospect of litigation and will also help in selling the gas at the revised price, so that neither party loses by selling at a lower price.

 

In any case, an appropriate formula has to be worked out with regard to the outstanding supplies of the previous contract, when the new discoveries come into full production.

 

In the meantime, both Reliance and Cairn are also looking at the prospects of getting the relinquished blocks, though the Petroleum Ministry official Vivek Rao stated that for getting these blocks, both will have to make bids like any other operator. It is expected that through NELP X the government will hope to obtain investment commitments worth $5 billion.

 

All said and done, for the time being, until the new wells start gushing out the gas, we have no alternative but to continue our dependence on imports.

 

(AK Ramdas has worked with the Engineering Export Promotion Council of the ministry of commerce. He was also associated with various committees of the Council. His international career took him to places like Beirut, Kuwait and Dubai at a time when these were small trading outposts; and later to the US.)

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COMMENTS

Dr Anantha K Ramdas

3 years ago

In response to Mr Gosavi, I may mention that in Banglore, for example, where it is generally cold in the mornings, most houses have solar water heaters, and there is a price cone cession for actual electricity consumption, if you have one.

as for solar power to replace electricity as such, at the moment, the investment costs are high; you are right that it will take a few more years when solar power panels will be affordable by one and all.

In fact, if the Government truly wanted, they could instal solar panels on the top of all houses and form a solar grid; obtain the power and distribute it at cost. In many places, solar power is also used for electrifying street lamps. On the whole, for a country like India, this is a mammoth exercise that only a government with means can do and save millions, sorry, billions of dollars in replacing other forms of imported fuel consumption.

But the trouble is that we need some State government to start this on a war footing and create competition between all the political parties, so that
"aam aadmi" gets the benefit in the long run.... thanks for your concern.

REPLY

Abhijit Gosavi

In Reply to Dr Anantha K Ramdas 3 years ago

Thank you very much for this info., Dr. Ramdas! I didn't know about solar panels in Bangalore. It appears that internal parts of Maha, Rajasthan, MP and most of the South could also use these solar panels. And you are so right about the role of govt.! In Europe, a lot of power is generated via renewable means (non-fossil-fuel), and that's happened only because of government involvement.

Middle-class Indians use very little energy compared to their counterparts in the West, which makes the Indian energy crisis less acute than it is in the West. It is sad that so many live in great poverty surviving with very little energy, but as the nation progresses, many of the poor will enter the middle class, and the problem will need some sort of long-term planning.

shadi katyal

In Reply to Abhijit Gosavi 3 years ago

If the said Indian energy crisis is less than Europe than how come one finds generator are a common sight and wastage of Diesel and atmosphere is not being considered. What about some of the area.
s in the nation where they have no power in this century
We should try to make progress and not look for state of GOI for any help but let the entrepreneurs do it

Abhijit Gosavi

In Reply to shadi katyal 3 years ago

Entrepreneurs need some form of subsidies to embrace challenges of this magnitude. Those diesel generators are not as efficient as power plants, making them very expensive. You are right that there are parts where there is no electricity, and there is at least one state where they have power 24 hours a day. In that state, it is the govt. that has worked to ensure power 24 hrs a day. No prizes for guessing which state that is :)

shadi katyal

In Reply to Dr Anantha K Ramdas 3 years ago

My question is that why we need GOI or state Govts to be involved in it. Have not learned anything from all the PSU??
Like the solar power water heaters let some entrepreneur do this and be sure that he doesnot have to go through any kinds of Babus who will hold such a license.
Time to stand up against Permit Raj.

Dr Anantha K Ramdas

3 years ago

Thank you for your comments. I do not think that Reliance would do anything that stupid as hoarding; initial enthusiasm was probably carried too far and nobody wanted to really check into details.

No that they have discovered another great field in D-55, and the Govt has approved $ 7 billion in investment, let us hope for the best.

What we need to do is not to rest on one area of fossil fuel. Let it be Reliance, ONGC,
Cairn, GSPC or any other; these do exploration is definitively unknown areas. What we need to do is to seriously work on Coal exploration and development. Coal methane gas is simply "evaporating" and we need to obtain the technology to ensure that no more CBM is lost in inter-departmental rivalry and one-up-man ships. We need to investigate and correct our mistakes on "environmental clearances" and other "clearances" from various state bodies. These have to be brought under "one window". We have too many hurdles to cross in this fashion and this must stop if we want to make some headway.

REPLY

Abhijit Gosavi

In Reply to Dr Anantha K Ramdas 3 years ago

Has India made any serious investments in wind/solar energy? We keep hearing about solar panels in Gujarat, but I haven't seen a proper analysis of the proportion of energy derived from renewable sources there. It certainly is true that India has lots and lots of wind and sun. Further, I believe even middle class Indians don't consume as much energy per capita as their equivalents in most developed nations.

shadi katyal

In Reply to Abhijit Gosavi 3 years ago

India has no planning of any kind and talk is cheaper. Where is any new technology of any nature. Look at USA who now producing more oil and gas than imports.
China with industrial development and having trillions to spare has gone into Africa for gas, oil and other minerals but our corrupt bureaucracy has not done anything.
Reiance is holding gas for higher prices while nation suffers. who has the power to investigate as most are on company payroll. This is how business is done .

Abhijit Gosavi

In Reply to shadi katyal 3 years ago

If India burns fossil fuels at China's rate (China is not a good role model for ANY nation), we are soon going to lose all ice in the poles, and there's going to be havoc in the climate worldwide!

Two winters back when I went for an early morning jog in Pune, I could hardly breathe, and my white shorts had turned grey in just about one hour! Business as usual and burning more and more of those fossil fuels is not the solution --- just my thoughts.

shadi katyal

3 years ago

We must open up this exploration field to the world if we want to meet our requirements.
Reliance monopoly is similar to GOI and is it possible that Reliance is purposely holding the gas production to get higher prices and let the industry and nation suffer.
Why is nation being made a target of GOI and a single firm

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