It’s rather ironical that all the important incidents and developments are not analysed from the perspective of their impact on the interests of our country, if any, but are viewed with a myopic lens. Let me cite three current events that are catching all the headlines.
Unprecedented crisis being faced by our neighbour- crisis of food, energy and likely default of international payment obligations- is a matter that’s strictly internal to that nation. If more than 250 of their rupees are required to buy 1 USD, obviously it needs a serious introspection by its economic think tank. India has had no role – neither in the current crisis being faced by that country or the efforts required by them to come out of this quagmire. It should only be treated as an eye opener for all of us, especially for an increasing propensity on part of a few of us to dole out freebies!
Hindenburg report on Adani group needs to be taken cognisance of by the bankers, regulator and the government and if certain course correction needs to be carried out, the same should be done promptly. By creating sensation and scare, no purpose will be achieved other than a temporary setback to India juggernaut that’s rolling fast post Covid recovery. In one of my earlier posts, I had suggested that such big conglomerates with borrowings in billions and trillions should be treated as systematically important borrowers on the lines of systematically important banks that are too large to be allowed to fail. These groups should necessarily follow certain more stringent debt equity, liquidity and asset cover ratios and there ought to be a stricter oversight on them collectively by the financing banks, regulator and other statutory authorities so that external reports like the one received on Adani group do not create any surprise or panic.
SRK’s Pathaan seems to be breaking box office records everywhere and the movie reaffirms SRK’s position as undisputed King of Bollywood. I think movies serve a limited purpose of entertaining us and this new trend of riling the image of the stars and building up frenzy on social media for their boycott is quite unnecessary and not in line with our spirit of accommodation and open mindedness. People should have choice as to what to wear, eat or watch and those having a different view can present their perspective sans any bulldozing.
While we all lament about the need for more balanced reporting and discussions on the issues that could be of general interest, I think we can stop lamenting and instead suitably moderate our reaction to such events. On the issue of national security and interest, we should all be together without exception. This will be a very proper celebration of the spirit of our Republic Day.
Arvind Arya blog 