Saturday 16 May 2020

Indian Agricultural Reforms

Indian Finance Minister Ms Nirmala S, came out with agricultural reforms on 14th May 2020. These reforms are under the response to Covid pandemic.

To understand the implication of the key reforms introduced, it is a must to watch Prof. Ashok Gulati (Infosys Chair Professor for Agriculture, Indian Council for Research on International Economic Relations (ICRIER)) interview.

They key take away's:

1. How farmers will benefit?
2. Corruption in APMC
3. How PDS system can be used in a better way
4. Impact of removal of Essential Commodities Act
5. Impact of reforming APMC
6. Role of Food Corporation of India



Thursday 14 May 2020

Importance of Law and an Upright Leader

“The law was made for one thing alone,for the exploitation of those who don't understand it, or are prevented by naked misery from obeying it. And anyone who wants a crumb of this exploitation for himself must obey the law strictly.”
Bertolt Brecht.

If one person is not to be exploited it is a must, according to Dr. Subramanian Swamy, to study law.

Interview of Dr. Subramanian Swamy in Words of Wisdom / Gyan Ganga on Law for Empowerment and Charan Singh is a must see.


The key takeaways from the interview is:

1. Importance of studying Law
2. Introduction of Law as an elective in College
3. How lawyers manipulate / harass people who are legally illiterate
4. Importance of common language in Court, especially in a country like India
5. Introduction of Mimamsa method in Court.
6. Greatness of Chaudhary Charan Singh (Former Prime Minister of India)

Thanks Dr. Swamy for sharing key traits of Chaudhary Charan Singh, especially youngsters, who have forgotten former Prime Minister of India.

Here, Dr. Swamy spoke about Justice Ganguly and Mimamsa Principles of Interpretation, I will share portion of that case judgement which appeared in The Hindu paper:

A Bench of Justice Markandey Katju and Justice A.K. Ganguly in its order said “MIP which were our traditional principles of interpretation for over 2,500 years, but which are unfortunately ignored in our Courts of law today. It is deeply regrettable that in our Courts of law, lawyers quote Maxwell and Craies but nobody refers to the MPI. Most lawyers would not have even heard of their existence. Today our so-called educated people are largely ignorant about the great intellectual achievements of our ancestors and the intellectual treasury which they have bequeathed us.”

The Bench said “the MPI is part of that great intellectual treasury, but it is distressing to note that apart from the reference to these principles in the judgment of Sir John Edge, the then Chief Justice of Allahabad High Court in Beni Prasad vs. Hardai Bibi, a hundred years ago and in some judgments of one of us [M. Katju, J.] there has been almost no utilisation of these principles even in our own country. Most of the Mimansa Principles are rational and scientific and can be utilized in the legal field.”


The interview is a must see for all Students of Law / Indian Political System.

Source: J Gopikrishnan

Wednesday 6 May 2020

Learning - Big Mistakes

Big Mistakes: The Best Investors and Their Worst Investments by Michael Batnick explains the failures of legendary investors.

Two of the individuals covered were phenomenal i.e. Mark Twain and John M Keynes. Mark Twain and his statements were hilarious covering the behavior of human beings and that of Keynes was intellectually stimulating. 

Heard new name Chris Sacca (Venture Capitalist) for first time.

Key takeaways from the book are reproduced below on as is basis:

What you learn in markets

In my nearly fifty years of experience in Wall Street I've found that I know less and less about what the stock market is going to do but I know more and more about what investors ought to do; and that's a pretty vital change in attitude. —Benjamin Graham

Who sets price and value

Graham taught his students and his readers that prices fluctuate more than value, because it is humans who set price, while businesses set value.

Mark Twain

The most famous author and his exploits in investing / business should be read in the book and reproducing select section from the books is a fool’s exploits. I don’t intend to. The words crafted by Twain is hilarious and unbelievably connected to all investors who lose. 

When IIT / IIM ‘s join investment banking

Michael Lewis, who began his career at Salomon Brothers, wrote in the New York Times, “Meriwether was like a gifted editor or a brilliant director: he had a nose for unusual people and the ability to persuade them to run with their talents…Meriwether had taken it upon himself to set up a sort of underground railroad that ran from the finest graduate finance and math programs directly onto the Salomon trading floor. Robert Merton, the economist who himself would later become a consultant to Salomon Brothers and, later still, a partner at Long-Term Capital, complained that Meriwether was stealing an entire generation of academic talent.”

LTCM Learning

Jim Cramer said, “In short, this was a seminal blowup. It struck at the heart of all of those on Wall Street who think that this racket is a science that can be measured, structured, derived and gamed.”

Key Statement

When I went to college, I was in over my head. I spent a lifetime going through the motions, so looking back, it's not surprising that I wasn't ready, because I did nothing to get ready. 

Tuesday 5 May 2020

Tracking - Lobbying in COVID times

Below is the list of activities which displayed lobbying in India during COVID times:

As on 06 May 2020

1. Liquor lobby

After spate of suicides, Kerala CM says people with prescription from doctors can get liquor.

2.  Builder / Construction lobby

Karnataka cancels special trains for migrants after CM meets builders.

3. Retail shops lobby

Hard lobbying by trade bodies shuts doors on ecommerce.