Dear FM

Tough times, while crashing the heavens down, bring along the most needed commodity of our times: common sense. With the air filled with optimism over bouts of recovery from the financial crisis, the finance minister will understandably be reluctant towards radical reforms. However, unshackled by the Left, this is the perfect moment for FM to rev up the economy, with his feet anchored on the fundamentals. A simple study of the previous budgets over the decades reveals that the non plan expenditure of the government has been greater than the plan expenditure for the past forty years. Moreover, interest of past payments has been more than three times the fiscal deficit. FM should look at reducing the non plan expenditure while increasing the share of the plan expenditure.

The government would do well to bring in more accountability in the defence expenditure, which has seen massive collapse in the national security of the state after 26/11 attacks despite its lion share in the budget over the recent years. Defence public sector units must be spruced up to bring in more accountability in their operations. It is high time government sheds its inhibitions and encourages participation of private players. With more room for manoeuvre, FM should not hesitate to administer infrastructure industry with ample cash transfusion and remove procedural hurdles to expedite pending projects. As per a recent report, India needs an investment of $500 billion till 2012 to upgrade its infrastructure and sustain a 9 per cent average annual growth in the economy.

If government is serious about ‘aam admi’ and his woes, it needs to take concrete measures in agricultural sector instead of offering ‘waiver’ palliatives. E-choupal and other innovative schemes should be implemented across the breadth of the country with enhanced scope to provide access to foreign markets. Food processing industry should also be nurtured well to manage the produce. They need to rise from their cooperative system to professionally managed corporations by including farmers as stake holders. The after math of the US financial crisis has left the export sector crippled. In addition to the tax holidays for export-oriented units and SEZ units, govt. can also lay the road map for Health Care Special Economic Zones to cater to the increasing trend of medical outsourcing to India in terms of medical tourism.

These recommendations for various industries look mounting amidst the widespread panic regarding the fiscal deficit. It is pertinent to note that the slowdown in India has led to the shrinking of the total economic pie, thus making the fiscal deficit look more alarming than it actually is. Government need not worry about fiscal deficit as long as it strives to maintain the tax slabs and add reserves to its coffers through divestment of PSUs,3G spectrum auctions and opening up of FDIs in retail and aviation

Dear FM, carpe diem, for the entire nation awaits your budget with a smidgen of hope for better days ahead.

Outbound session - A travelogue!!

It was six in the morning. I was walking through the muddy construction lanes sloshed with dregs of sleep, thrusting my legs forward armed with heavy baggage for the trek. It began like those good old school excursions when teachers used to wear a white cap and walk around with a whistle dangling in their necks, calling out the names of the students boarding the buses. As soon as the engines revved up, so did our spirits in anticipation for the most eagerly awaited outbound session. We wallowed in nostalgia of our alma mater by playing all those childish anthakshari games in the bus. Faithful to those times, we were singing good ol’ numbers much to our own amusement. Within no time, we were at the gates of Shantivan resort where we were welcomed with great enthusiasm by avuncular retired service men of Indian Army. Much like those army traditions, we were soon put into various regiments ably guided by a leader. After settling down, we got ready for our dose of management games, replete with allegories and inspiring sermons. We found our modicum of inspiration and pearls of management in unlikeliest situations, ranging from those bizarre climaxes in David Dhawan movies to Indiana Jones’ adventure plots to silly games where we had to dance like Govinda (Do I have to explain further??). Apart from the funny moments, we had our share of interesting plots which let us break our inhibitions and place mortal faith in strangers whom we had barely acquainted. This faith gradually led to blossoming of friendship. The games also had a typical denouement scene where the plot is unraveled and the management sutra is revealed by the sagacious man.

By the end of the day, after the games session, we were drained out. However the excitement was too high to recharge us quickly for variety entertainment during bon fire. Despite limited time for planning, the plays were amazingly creative and outright funny, showcasing the Indian jugaad factor to be creative with whatever resources available. Most of the plays were miniature Indian movies, full of background songs and other Indian filmy elements which we grew up with. The air was filled with wild enthusiasm and most of them had energy left to shake a leg to weird play list of marathi and tamil songs. I decided to go back to my quarters to sleep amidst indecent mosquitoes and other snobbish nocturnal creatures destined to spoil a good night’s sleep. The air was however still suffused with excitement for the most interesting part of the outbound session which was due next day. As I woke up the next day, I found the glistening rays warming up my skin for the long arduous trek journey to Sinhagarh fort. As soon as I walked up near the base of the mountain, I could feel something rising within me. All of a sudden, from nowhere I could hear the inspiring blow of trumpets, raising my freckles, playing with DTS sound effects. Yes, it was the perfect filmy moment where I was ready to trudge the mountainous path and overcome the insurmountable obstacles and reach my Lakshya. Shankar Ehsaan Loy’s rousing sound track blending beautifully with the picturesque mountain surroundings ensured that I climbed up the hill in no time with less fatigue. Despite the delectable ambience, I couldn’t rush up to reach the pinnacle all by myself. Time for yet another management sutra. It is not enough that one climbs his way to the top all by himself. He also has to ensure that he doesn’t leave his team behind in his quest for the summit. In my case, I had to pull up my unwilling trek partner to the summit. I also realized that my journey to the summit was as joyful as it felt when I realized that I have conquered the summit.

Few truths in life, however clichéd they might sound, continue to have their profound influence in the course of our lives, whispering their truth silently in the humdrum routine of life. I had no choice but to admit the strong impact of those clichéd truths. By the time we returned to Shantivan, all the mortal faiths on our acquaintances were put into test by the most interesting game of all, “Win Win”. Pitting each group against each other, the game let us introspect our behavior towards our fellow team mates. The game, by its unique nature, reaffirmed our faiths in cooperating together, breaking the cocoon of mistrust which normally happens during such interactions. Everyone could really feel the strong presence of the most clichéd word of our times “Team Work”. The last management sutra turned out to be the perfect takeaway from our trekking session while we packed our bags to the campus. It suddenly dawned on me that my honey moon period is over and the mad, invigorating roller coaster ride of four semesters in my B-School with my new set of friends has just begun with a bang.